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GROUP DISCUSSION AT URPERCENTILE : “WE NEED MORE ENTREPRENEURS THAN MANAGERS"
T.Chaturvedi, N.Khurana and Ritesh clear the GD.
www.UrPercentile.com: The Topic of the GD is : “ We need more Entrepreneurs than Managers"
N.Khurana: I agree with the topic that we need more Entrepreneurs than managers because focus from most if the developed countries we soon transfer to countries like India and china and moreover it is said India will be third largest economy in the world by 2050 ,
T.Chaturvedi: Entrepreneurs and managers are two sides of a coin in the economy. The former establish businesses of their own and then manage them while the latter are only involved in managing. I think that entrepreneurs are very much required in our economy today because Indians still are extremely risk averse and this causes them to undermine their potential for performance sometimes. On the other hand the need for managers cannot be stressed more because they are pivotal to the running of our booming economy. An entrepreneur may not necessarily be self sufficient and may need managers because he may not be able to simultaneously look after all his concerns in his startup.
Ritesh: Let us first start by defining who an entrepreneur is. An entrepreneur is a person who takes risks, puts in effort & perseveres to achieve the end result. At the end he may be rewarded for his effort. He sets examples and shows other people that a certain thing can be achieved by being an example himself. A manager by virtue of his profession is normally assigned a particular task & assigned some resources. He has to complete the assignment with the constraints imposed on him.
Khushi13: Entrepreneurs creates lot of employment in the society. He is the one who undertakes the organization and management of an enterprise involving independence and risk as well as the opportunity for profit. In business there are four main core competence roles that we see. These are the Entrepreneur, Businessman, Investor and Manager.
Antony Thomas: The topic is an interesting one and I do agree with it. Entrepreneurs are the heroes in the whole drama of economic development. Economic development needs investment and capital accumulation and these can be done by efficiently by entrepreneurs. Indian economy needs to develop rapidly and there is no better way than starting up new enterprises, businesses and industries.
Ritesh: Any person who takes initiatives & generates innovative ideas can be termed as an entrepreneur. These are the people who add value to the organization by making significant contributions.
Aditya Ahuja: An entrepreneur is a person with ideas and most of all implementation of these ideas
T.Chaturvedi: An entrepreneur is a face of capitalism as he sets up his venture for profit. Profit can come only when he manages his venture properly. I think these roles cannot be dichotomized. This is because merely setting up a concern will not set the cash registers ringing. At each stage, be it financing the project or trying to set an identity or even managing the logistics, all are a part of managing. To make it, a second choice in preference sue to admiration of a entrepreneurship is not always wise.
Rohit Gupta: Yes true said Tuhin, Managers and Entrepreneur are two side of same coin. But one may be or may be not related to each other
Ritesh: khushi13, I think you are mistaken by what an entrepreneur means. It doesn’t only mean a person who starts his own company, it refers to people who take initiatives & take them to fulfillment
Ankit Gandhi: If you are taking country like India, yes we need more entrepreneur to employ other people who are anyways unemployed
T.Chaturvedi: On the contrary,Mr.Rohit, I think they have to be related. An entrepreneur must be able to manage or else he will be doomed.
Yogesh Srihari: I don’t think entrepreneurs have an edge over the managers but managers are the one who manages the productions of a particular but entrepreneurs create a brand out of managed product. As somebody said they take the risk of satisfying the consumer. Effective marketing & sustainability not only requires good product but it also needs good communication which should reach the customer.
Ritesh: An entrepreneur should be a good manager to manage his team & his resources. Managerial skills are essential for an entrepreneur to succeed.
Rohit Gupta: A manager can be built with the degree only when an Entrepreneur can be making by experience and he can make as many managers under it which may again can become an entrepreneur.
T.Chaturvedi: A person may start as an entrepreneur but may develop into a manager. This is because once his venture is setup, he need not have to struggle as he did but just manage his business excellently.
Rajesh Patra: Well. Today in India the unemployment is around 25%. Our new generation people after education don’t feel comfortable to get back to farming. So they look for job. And if they don’t get job, they ultimately get into anti-social activities. As known "An empty mind is the house of Devil". So we need to address this problem of employment.
Khushi13: That’s what I am saying he is the one who takes the initiative to start the business and creating employment.
Aditya Ahuja: It differs from person to person, some entrepreneurs can be able managers. In India we can find entrepreneurship at every corner even a roadside peddler is an entrepreneur.
Jainisree: In a country like India, entrepreneurs are more needed than managers. But an entrepreneur definitely should be a good manager himself, to be successful
T.Chaturvedi: I think management is a concept which may well outlast entrepreneurship principles in the long term. Let's look at venture capital .An entrepreneur has to be cogent to a VC and make him invest in his business. That’s because it is still in a fledgling condition and has no credibility. This can be done by anyone as long as his focus is clear. But investment in established business usually involves private equity which is a strategic move and requires sound managerial concepts. Moreover as a business grows up, it needs more of management skills. But the entrepreneurial drive also sets in especially when a new product may be formed due to innovation.
Ritesh: Entrepreneurs can also be said as true leaders. They set examples to the rest and lead by example. We have large number of examples in Dhirubhai Ambani, Narayanamurthy, Kiran mazumdar etc.
N.Khurana: By saying it two side of the same coin is not right, by this I get a feeling that these qualities is hold by the same person and he can switch roles but as per my interpretation a Entrepreneur is a person who is willing to take risk and not only manage the resources he have , more over being an entrepreneur is far more risky then being a manger , moreover at the same time even if you are good manager it is hard to deal with the ever changing environment.
Rohit Gupta: Sorry to say you Rajesh: Unemployment in India is around 4.5% according to Economic Survey of Dec 2006. So please correct your information because as we know that employment is not the main concern of our topic. So let back to topic.
Antony Thomas: But we should keep in mind the fact that not all people are talented enough to be entrepreneurs. It takes certain innate skills to make a good entrepreneur. This is evident from the fact that not many people who start their own businesses end up making it successful.
N.Khurana: Just to add that one of the biggest cause of India being a developing country despite having some of the best talent and is far less when compared to country like china , is not the presence of write people in the political structure , if we have more Entrepreneurs they being built there wealth might compete for the best post and get into the government , which might effect the policies and lead to growth and have respect politically
Aditya Ahuja: An entrepreneur is the one with the idea and the manager is the person who paves the way for this idea.
T.Chaturvedi: I think an entrepreneur has to manage as well as take risks which may have more bearing on his venture than a manager who may only affect a local area of an organization.
Rohit Gupta: An entrepreneur makes as many Managers he/she wants. A Manager can work under an Entrepreneur with limited freedom to his/her job and he has not get full right to do decision regarding the organization
Ankit Gandhi: If you see Dhirubhai Ambani he was the entrepreneur who turned in to management with due experience he got from entrepreneurship
N.Khurana: Just to begin with the distinction would be Entrepreneur can be manager ,but not every manager can be a Entrepreneur
Yogesh Srihari: Exactly as Ahuja said entrepreneur create enterprises which should be managed by managers. Nothing is a substitute for experience but our managers are trained by these people having entrepreneur experience.
T.Chaturvedi: Just to add to Mr. Ritesh, the risks taken by a manager may only affect his job if adversity strikes, whereas an entrepreneur may end up losing his venture totally.
Antony Thomas: Excuse me, but exactly how is distinguishing between a manager and an entrepreneur really helping our topic? Let’s talk about why we need more or less of why we need them and not their differences.
Aditya Ahuja: Infact every new proposal or venture needs managerial assistance which can be provided by the managers.
Ritesh: Companies need innovative ideas and solutions to beat the competition. Hence there is a necessity in people who think big & have a vision into the future. Mere management skills won’t help as management normally concentrates in managing the problem at hand rather than generating innovative ideas.
Rohit Gupta: Can anyone give the answer why now days people are more interested in Entrepreneurs and not Managers? As we have seen recently that IIMA product refuse to join to the company and want to make their own company.
T.Chaturvedi: I think entrepreneurs and managers could well be interdependent in some cases. Entrepreneurial agents may be the brain behind a move while the managers and give shape to the strategy to it.
N.Khurana: Just to bring the focus back to the topic we are not here to discuss which one is better but which one will actually help in the development of the country like India, which I feel an Entrepreneur would do a nice job because of the ever changing environment and that is some thing India would need to compete with rest of the world.
Khushi13: Ritesh, can you please clarify that do you agree with the topic or disagree.
Aditya Ahuja: But Mr Rohit only those with a vision become an entrepreneur not everybody becomes an entrepreneur.
T.Chaturvedi: I agree with Mr.Ahuja that IIM A grad may have had a brilliant vision and also a plan to go about it.
Yogesh Srihari: Bill gates was a drop from school, Experience of Entrepreneur can make a great manager.
Rohit Gupta: Yes, you are right Ahuja but an Entrepreneur should be there to make any managers.
Jainisree: A good entrepreneur is the one who selects right business opportunity and source business opportunities and job opportunities to others. So entrepreneurship demands more skills than the skills needed for a manager proper planning about financial aspects, location, technical aspects etc. Also about the market data and government policy, etc.
Ankit Gandhi: If you take Delhi in to account, for every twelve household there is one entrepreneur ready to serve the customer which clarifies the importance and the popularity of entrepreneur.
Rohit Gupta: And this is why we need more entrepreneur than mangers to create more and more jobs to boost our economy.
Ritesh: Entrepreneurial spirit can be nurtured in the employees & they can be given the freedom to try different ideas . Someday such an idea can bring a lot of revenue to the company. For example, Google India is dedicating 20% of the employee's time for their pet projects where they can innovate & become entrepreneurs. "Orkut" & "Google finance" are some of the entrepreneurial ventures born out of the Google labs.
N.Khurana: Moreover I also like to point that it is these Entrepreneur who first built there wealth , contribute to the society and then even can change the political structure of the country which would effect the policies of a country to compete in the future and moreover have respect for there policies.
Aditya Ahuja: An entrepreneur is always ready to take risks and this gives him the edge over a manager.
Rohit Gupta: An entrepreneur can handle all the managers. A manager is specialised in a particular field and this is the job of an entrepreneur to assemble all the jobs to make the objective of the organization to be fulfill.
Antony Thomas: An entrepreneur is one who starts a business. This is a very good thing for the economy as it provides employment, or education or health care facilities and like India needs to increase its rate of economic growth which is currently around 8%. For this we need more industries, output, jobs, incomes better standards of living etc all of which contribute to the development of the economy as a whole. A manager is definitely indispensable. A huge organization cannot be run by an individual alone. It is here that managers come into play.
Ankit Gandhi: Management is a subset of entrepreneurship get more exposure as an entrepreneur to face challenges than management.
Ritesh: What is the percentage of MBA graduates from premier B-schools who are trying to become entrepreneurs after graduation in India ?
T.Chaturvedi: Let's look at it this way. An entrepreneur has a general idea and a little domain specific area. He may not be able to handle all specializations of his venture as he may not be a specialist. For these internal specializations, he needs managerial positions. And managers may not have a general picture.
Rohit Gupta: A managers with the specialized in Marketing, Finance, HR and many mores. But an entrepreneur makes all the things on an equal platform to run an organization.
N.Khurana: I strongly disagree that the management of the company can be trained to became an Entrepreneur but feel that is something which within an individual and it just require an Opportunity not just feedback.
Aditya Ahuja: Entrepreneurship is something that comes in naturally and with experience. For example a person cannot be trained to take risks.
www.UrPercentile.com: Thanks everyone, requests everyone to give a concluding statement.
Rohit Gupta: We talked all the difference between an Entrepreneur and Managers. We also found this that without any one of the two it’s not possible to run any organization . Whether it is entrepreneur or manager they must have experience to handle the situation.
Ritesh: Managers manage a company , but entrepreneurs add value by generating path breaking ideas & nurturing them to become innovative products. An entrepreneur is definitely a better value add to a company than a mere manager. Having said, I also feel that a manager can also be an entrepreneur & contribute to the growth of the company.
Aditya Ahuja: Entrepreneurship is the first step to build an organization while managing it is the next.
Antony Thomas: Orion, the percentage is small because the factors that guide us are not the development of our country or patriotism but personal gain. Also, there is a huge factor called risk involved in entrepreneurship. This is definitely a drag on the would be entrepreneurial mind.
Jainisree: Entrepreneurs need innovative ideas, continuous planning, one must ensure progress and get on with the start up problems. It is risky but definitely fruitful when one succeeds. In a country like India where population is vast there is need for entrepreneurs as they create opportunities for the unemployed and government is also encouraging thru many development camps etc.
N.Khurana: my conclusion would be that yes more Entrepreneur should be encouraged to take this job, in this regard some kind of opportunity should be provided and let them go after it, it is the risk taking feature which makes the distinction from a manager, and I believe this people are the only one which can achieve double digit GDP for India and maintain 6 percent growth rate.
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