Tuesday, November 13, 2007

Business: A bad word?

There was a time when business was a bad word. Though you earned money and fame, it was still not looked highly of. That was till a decade ago. A plum job with a good designation and a stable paycheck at the end of the month was considered acceptable and ideal matchmakers choice. If someone had his own business it was assumed that he was a failure with his academics.

But things have evolved. Business may still elicit that negative connotation, but today 'entrepreneurship' has replaced the word 'business'. And nothing today is more glamorous than this new word. I have written time and again about the booming sensex. the changing face of the nation and country surging ahead with its strong economic fundamentals. All in all a thriving ecosystem that is being cooked, malinated and served hot for the youth to scamper in and join the bandwagon.

I am a fond watcher of Young Turks, a series on CNBC TV 18, which focuses on today's young achievers(within 35 yrs of age) who are poised to become tomorrow's leaders. Each week it interviews young entrepreneurs who have begun their journey from scratch and show a potential to make it big.

Finance minister in his annual speech exhorted that for India to continue its growth in the range of 9% it would have to do two things aggresively:
1)Acquire companies abroad and increase
2)Generate more entrpreneurs and in turn more jobs

A lot is being done for the first step like the rupee becoming fully convertible, which will enable indian companies to acquire assets abroad.

Advancements are also being made on the second front too. Incubation centers are being formed to encourage the young breed into entrepreneurship. All the IIMs have their set ups made and thriving. NS Raghavan Center of Entrepreneurial Learning(NSRCEL) from IIM Bangalore, Society for Innovation & Entrepreneurship(SINE), IIT Bombay, Wadhwani Center for Entrepreneurship Development (WCED) at ISB etc.

What all this goes to show is the changing face of business in India, where business is no more a prerogative of the Marwadis and the Baniyas. Business is run more proffesionally and ideally. Today business is marked with an aura that can bring in social upliftment, generate jobs, generate wealth. And the youth of today are foraying into these untested waters with unflinching faith and belief, ably supported by an encouraging ecosystem around them.
Only time would tell how far does this Entreprenuerial honeymoon would last.


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