Entrepreneurship is the biggest economic leveller in any country
The spirit of entrepreneurship should be promoted right from schooling
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How can educational institutions and other stakeholders encourage more young people to pursue entrepreneurship in India?
-Rajeev Ravulapati, Founder, Sites60.com
Entrepreneurship is the biggest economic leveller in any country. It not just adds economic value through buying and selling but also generates much needed jobs at different socio-economic levels.
The spirit of entrepreneurship should be promoted right from schooling. However, there should not be social pressure to force entrepreneurship on young people, as the choices must be left open for them to choose.
Governments, financial & educational institutions must take the initiative to educate, skill and provide an enabling ecosystem for entrepreneurship to flourish in India.
Considering the current market trends, to what extent do you think innovation plays a role in a successful startup?
- Rishitha Marasani
I don't think 'Innovation' is a trend. It is an essential factor for survival for businesses in highly competitive environments. Startups have to manage many challenges- limited resources like capital, capable human resource and competition. Startups must incorporate the culture of innovation and initiatives right from the beginning.
Innovation builds operational efficiencies and impacts both top and bottom-line of an enterprise. Effective innovation can create niche markets for startups to grow with less competition.
What core principles should a startup embed in its organisational strategy to promote agility and adaptability?
- Ananya Dubey
The best way forward for a startup is to focus on building organizational culture right from the beginning. Many startups don't allocate time and resources to this part of organization building.
If your teams are not agile and adaptable, how would they build salable products and services? How would they cope with challenges in the marketplace? How would the enterprise reorganise itself with the customer feedback to better service deliver?
Not just agility and adaptability, a startup essentially needs well defined core-values to enable teams across the organisation to access value-guidance for successfully executing their business strategies.
Byjus is a classic case of lack of effective core values and well-designed organizational culture, which led to dismal enterprise failure.
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