Enterprise, Entrepreneurship and Entrepreneur

Madhusudan Jhunjhunwala, Founder Gauri Shanker Business Services Pvt. Limited (GSBS), Secunderabad

Background I have been asked to contribute an article for the Souvenir of Gitanjali Devashray. I have been advised that I should write on a theme of my choice. I could treat this (choice) a privilege, or a responsibility, or both. I would assume that this (choice) is both, a privilege as well as a responsibility, for me. This is so, since it affords me an opportunity to share my views with readers on a subject (Enterprise, Entrepreneurship and Entrepreneur) I am fascinated with and, at the same time, it would also give our children some food for thought, engaging them in an exploration of entrepreneurship as a possible pursuit in future. Children represent creativity, honesty, confidence and future. Each one of them is unique and special, but not more so that others. Each one of them is capable of excellence in his/her chosen area of competence. We need to remember that excellence is incomparable. If at all, an excellence can only compare and compete with itself. We excel when we are given freedom to choose; we dont when choices are either restricted or are forced on us. Our children need to learn the concepts of enterprise, entrepreneurship and entrepreneur and why they are vital to a society. They ought to learn about the creative challenges and rewards associated with the pursuit of entrepreneurship. Enterprise and its genesis An enterprise is, truly speaking, an ultimate culmination of five basic individual personality traits. They are: 1. 2. 3. 4. 5. Ones passion in ones own belief, Ones belief in ones own self, Ones unrelenting determination to shape ones own destiny, Ones own ability to innovate and Ones ability to not get mellowed down by environmental factors (beyond ones control)

Once these traits come together, undeterred by other environmental or any other factors, an entrepreneur is born who then lays down the foundation of an enterprise. An entrepreneur does not start an enterprise because he is motivated by philanthropic aspirations; he starts an enterprise because he is compelled to create and preserve his own identity. It is another matter that once having achieved his own private goal, he is inclined towards philanthropic motives. An entrepreneur is always ahead of his time and so is the enterprise that he builds and leads. The spirit of creation and service to society (by using our unique talents in the fields of our choice) is entrepreneurship. As it appears, an enterprise is an individual initiative whose sole purpose is progress for the self. Preservation and promotion of ones own material, emotional and self-esteem needs are at the core of every entrepreneurial endeavor. However, there is rarely an endeavor or objective that can be singly achieved even though the inspiration behind that endeavor is the aspirations of just one individual. This individual actually becomes a rallying

Enterprise, Entrepreneurship and Entrepreneur

point for all the necessary factors needed for the attainment of the objective. Till such time these factors remain in hibernation and the initiative of the entrepreneur motivates them to come out of hibernation. It is thus that what is apparently an individual-centric exercise starts turning into a collective endeavor called enterprise. With the man was born the need. The primitive man felt the need for fulfilling his biological urges of hunger, shelter, clothes and sex much before he felt those of religion and politics. The manner in which he set out to fulfill these needs gave birth to the concepts of consumer, surplus, innovation, technology, knowledge and entrepreneur. The earliest man himself was the first entrepreneur. All these concepts were later organized together in the form of an institution called enterprise. Evolution of Enterprise It has made a journey from the cave age to the information age and is set to enter the age of innovation. These innovations will focus on two things: 1. Exploration of the unknown and beyond and 2. Battling the complexities of today to make them simple. Simplicity in human life is going to be as important in the next age as it was in the cave age or at the dawn of human civilization. The mankind will require enormous strength and energy to be devoted in pursuit of unknown frontiers of this universe in order to find solutions to its pressing problems on this planet. This exercise will be as novel as have been the inventions of steam engine or computer or discoveries of various disciplines of science. Nothing in this world has ever been devoid of emotions and contradictions and it will never be so. Evolution is a universal law. Emotions and contradictions are the forces behind the progress and development achieved by mankind. They are also the forces behind the evolution of all that man has created. These forces are intrinsic to human nature and their imprints are unmistakably visible in all that one creates. These imprints are greeted by more emotional responses from others, thereby providing a fertile ground for further contradictions. The world will come to a standstill if emotions and contradictions disappear from our lives. Entrepreneur and a professional manager An entrepreneur must hand over his enterprise to professionals in the manner parents hand over the responsibility of grooming their children to professional gurus after laying the foundations of values, vision and goal for future. There is no dichotomy between an entrepreneur and a professional. The fact is that the later is an extension of the former. As has been mentioned earlier, induction of professionals was an entrepreneurial necessity. The two roles got separated for reasons of clarity and effectiveness within the enterprise. If the size and operations of an enterprise is not very complex, it is possible for one to perform both the roles. However, it requires one to develop and master two contrasting qualities entrepreneurial attachment and professional detachment. Further, having developed these skills, it is still more challenging to develop yet another skill ability to balance the two during actual practice. Frankly, it is one of the rare feats achieved by very few accomplished in the whole world of enterprise and management. Entrepreneurial challenges

Enterprise, Entrepreneurship and Entrepreneur

An enterprise is always born in the times of acute adversity and crisis because it is during these periods that human intellect compressed from all sides works at its best. Behind the growth and sustainability of every enterprise lies the will to win against all odds. Enterprises in their relentless march into the future continue to leave behind them an enormous wealth of knowledge and experience which are leveraged by potential entrepreneurs who in turn utilize this wealth against the same enterprises who create them. Some ingenuous minds even surpass them and leave them behind in the same march into future. This leads to the birth of an increasing number of enterprise, entrepreneurs and professionals, each vying to be more creative and value-generating than the other. Thus an entrepreneurial culture starts taking shape in a society. Tomorrow is an enterprises biggest opportunity and yet its biggest weakness. It is an opportunity in that it gives a reality and recognition to our creativity, imagination and initiatives. It is a weakness when we fall into the lethargic trap of tomorrow. It is a weakness if we are not able to peep into it and see it with clarity. Many organizations have fallen in this trap. Some came out while the rest didnt. But very few could regain lost glories of hey days. The only way to escape this trap is to remain alert, agile, nimble, proactive and aggressive. The only power that can see the enterprise through its challenging phases is the power of NOW. But practicing it is easier said than done. Conclusion Globalization and technology have created, and continue to create, abundant avenues where our children can apply their unique talents in entrepreneurial pursuits creating infinite wealth for and eradicating poverty from society. True entrepreneurship is about creation of value, and is broad-based. It helps a society build its character and confidence. It fortifies the foundations of democracy, creativity and meritocracy based on hard work. The Western societies, particularly North America and Western Europe, have encouraged entrepreneurship in comparison to those in the East. As a result, democratic values, innovation, meritocracy and hard work a form major constituents of their character. An entrepreneurial society is place of celebration, since it competes with self. It celebrates its own excellence and excellence of others; it celebrates victory, whether own or opponents. In this there is no place for mediocrity; there is no place for defeat; because this excels and helps others excel; because it wins and help others win. We need to remember that the world is big enough to accommodate as many successes as we can create. If everybody in a society seeks a job, who will create one?