By Palin Publisher: Time Rays Language: English Format: eBook Pages: 13 First Published: 2004 Re-publishing Year: 2011

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Copyright Notice All rights reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, without the prior written permission of the publisher. Disclaimer All the material contained in this book is provided for educational and informational purposes only. No responsibility can be taken for any results or outcomes resulting from the use of this material. While every attempt has been made to provide information that is both accurate and effective, the author does not assume any responsibility for the accuracy or use/misuse of this information.

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Table of Contents Entrepreneurship is not Divine Objectives and Opportunities Threats Besetting

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Entrepreneurship is not divine

The close proximity with which modern entrepreneurship runs with risk is appalling and under unusual disguise. The mystique behind it conforming both opportunity and threat. It appears to be a complete conundrum for the larger populace who explore strange myths that culminate in total contention. So far, so meager, very few had really understood the objectives, grabbed the opportunities and accomplished the goals. Such unprecedented heights have lured the but perplexed masses once again. Debates; seminars; press releases; every day we hear the new call, curtain raisers and expert advice. But none has come forward and proclaimed the universal truth Entrepreneurship is not divine. As one puts is it, the

Entrepreneurship

ability and willingness to undertake the organization and making decisions, associated functions of management usual it is with of production. As well as business often the

innovating

and bearing risks. Neither an Art nor a Science, it is the liberty of subsistence that is tantamount to household management.

After budget estimates, the finance is counted. If the budget exceeds resources,

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the funds are generated or borrowed. Then at risk it is invested in one's progeny envisaging the profits in terms of their bright future. For minimal risk savings are made and the obvious, expected results are sought after. Such long-term planning forms the fundamental of entrepreneurship and government policies. But modern entrepreneurship holds a distinction and demands instantaneous results. The scenario has drastically changed with the stupendous developments all around which again are the outcome of modern entrepreneurship today. Fifty years ago, the typical entrepreneur was relatively homogeneous and static, owning a main street shop or a local manufacturing unit. Now, with mobilization and diverse attitudes of same job, service businesses have come into picture that suit personal lifestyles. This has paved a way for Global Industries with higher values and better quality and efficiency. Still under disguise, innumerable opportunities have emanated from this.

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Objectives and Opportunities

The motherhood of opportunities owes its thankfulness to the objectives of the modern entrepreneurship today. Impregnated with newer ideas and zeal, the market enjoys an all time high. To dash the obscurity covering vast opportunities, the present objectives of modern entrepreneurship beg to be comprehended indispensably. The main objective underlying Being: Less investment more profit. The very first thing looked after is profit or, to be more social, it is economic gain which holds a pivotal position in rather parallel economy. The ever expanding market otherwise never revolves around a center. With tight economy and constraint budget, the transformation of the objectives is but obvious. The interpretation remains there, only pronunciation has shifted to decency. It holds now Doing more with less, that means exploiting the most from the least available, including human resources. Ignore the unavailable as if of no use is the new market mantra and furthermore, presentation of availability as if nothing beyond this. Of late, the shift has been taken toward quality now. Quality is not the thing to be compromised with, even if it involves more finance. One has to establish in the market by beating the heat which competition has generated today. Therefore, quality has evolved into the prime objective of entrepreneurship in today's fast emerging new markets. But quality is not the only criterion. Value added services are the objectives after the initial aims are met. After sale services and repairs are integral with quality and reputation of the company. All this remains still an effect without unveiling the cause. To unravel the real objective of modern entrepreneurship the significance and profoundness of elucidation of fundamental objectives from where it has emerged needs not any mention.

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Winning customers or vendors faith in the company is the real objective. Customer satisfaction is the keyword in the market today. Even the small-scale units know the price they have to pay if they lag behind in this field. Small business development being fundamental to helping economy, the economy cannot let loose the chain. These contributors include tailoring units, grocery shops, cycle repairing units and many more, to name a few. These fetch jobs and wealth for the nation and opportunities for youth employment and women emancipation. Here lies real entrepreneurship, having made objectives clear and attainable horizons, one can take a calculated risk to grab genuine opportunities. Today opportunity itself connotes threat. Unable to remain abreast with changing tastes of customers, private enterprises find themselves at the risk of losing their market. In order to break the nut, first they end up in holding a bane what at the prima facie seems to be an opportunity. Vast market invites depths; good investment vests liability and huge demand hampers growth considering quality

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aspect. Cheap raw material adds to its accumulation materialistically and in terms of storage costs. Optimistic economy, good governance, flexible policies and tax reforms have never shown inertia, fickle enough depending upon social and political milieu. Relying on boom in any sector is never a trait of a good entrepreneur. For short term goals, it looks glaring; but in long run it is deceiving and inexpedient enough to serve the purposes of the company's economy in general and national economy in particular. Developing nations like India provide least accommodation for research and development. Nevertheless, investing in these countries in research and development may acquire political acclaim and growth and plaudits on paper but in terms of cash it may taste sour. If you sell today what you sold yesterday, you will be out of business by tomorrow. Improving technology has made it mandatory for every company, whether small scale or a large enterprise, to update itself from time to time. Thus, every new day fresh investment is required and with it is ever accumulating depths. With high soaring interest rates on the floor, debt repayment has owned itself top priority. Technologies such as internet and biosciences have created tremendous opportunities which in turn have fostered the growth of large number of small businesses. The sole objective of these units is their rapid growth. Thus, new partnerships have emerged and amalgamation of these small businesses into a big one has followed. The gap between piracy and originality has been reduced by the incorporation of small sector into the larger one towards the optimistic mode. Pleasing shareholders by offering the buyback schemes of its shares are some innovative methods that big enterprise implements. This provides not only share holder security but also economic independence.

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Threats Besetting
The major threats to modern entrepreneurship are entrepreneurs themselves. Engaging in ego wars on price tags, they cut their own roots with their own axe. Ego clashes are more often today. No doubt, the customer gets the benefit but the reputation and common social consensus of the company suffers a lot. Moreover the infrastructural and power problems also hamper the growth of economy. Discontinuities of electricity and national transportation system are to name a few. Political bottlenecks and bureaucratic dead locks are hard to overcome easily. Red-tapes of the administration cause the enterprise to shake hands with corruption which seduces the otherwise celibate objectives. Modern entrepreneurship shares a good rapport with governance making inroads into their vested interests. Political parties foster any biased demand of some enterprises for generation of their party funds meant to redress their languishing wear on.

The funding gap in the early stages also deters the growth of set objectives.

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Lower investments at the very outset de-motivate juvenile enterprises and lowers down the morale. Another challenge to be faced is the rapidly changing applications of information technology which demands more improvement and further update. Also challenges lie in. terms of work force, organizational structure and management upholding and tax reforms. The threats emerge even more frequently than opportunities. False propaganda by some corporates in order to boost their businesses poses more serious threat. Such things develop unrestrained race among these corporates of same production and marketing fraternity. With more and more opportunities coming forth, fresh objectives evolve out of stubborn economy. Prophecy about market at present is like optimism without rationalism. The ambiguity with which the economy runs pleads to be plausible but the face of most investors is still under par. At one time the economy of many developing nations including India and even of developed nations had reached at the point of complete cessation. But now a pristine euphoria is arising again vindicating the investment of small sector groups. Today with these fresh objectives an alarming increase in threats can be seen. Each new opportunity brings with it inevitable threats as if being two aspects of the same coin. The only remedy is doing the best at this moment in order to place oneself in the best position in this unpredictable market because: change happens in the moment not in the future.

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