Emerging Trends in Entrepreneurship

4557 Words Aug 3rd, 2010 19 Pages
EMERGING TRENDS IN ENTREPRENEURSHIP

Introduction

We all know that entrepreneurship is about attempting to assemble resources including innovations, finance and business acumen in an effort to transform innovations into economic goods. This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity. The most obvious form of entrepreneurship is that of starting new business; however, in recent years, the term has been extended to include social and political forms of entrepreneurial activity. Entrepreneurship ranges in scale from solo projects to major undertakings creating many job opportunities. Many kinds of organizations now exist to support would-be entrepreneurs
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More importantly, the small scale sector has helped widen the entrepreneurial base by giving rise to a new class of entrepreneurs from the ranks of employees, business executive, technicians and professionals. Thus was broken the earlier myth that entrepreneurship is an exclusive domain of the socially conservative, traditional trading communities. In fact, in this 1960 study of small entrepreneurs in the then State of Madras, James Bean observed that entrepreneurs could emerge from a wide range of social and economical backgrounds.

Contribution of the NEN and other organizations

There are various associations, tie-ups and NGOs who are doing a yeoman service to the cause of entrepreneurship both abroad and in India. Notable among these are Evan Carmichael, TIE and our very own NEN (National Entrepreneurship Network) founded by Mr Romesh Wadhwani, an NRI entrepreneur who is the owner of Symhony Corporation in Silicon Valley. The aim of NEN which is a non profit organization is to foster the spirit of Entrepreneurship among the youth in India’s educational Institutions and assist them in running successful businesses.

The need for networking in entrepreneurship

Neither entrepreneurship nor the phenomenon of innovation at the intersection of business and natural…