Entrepreneurial Development VOLUME 1 The Entrepreneur, by VASANT DESAI

By VASANT DESAI

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Extra resources for Entrepreneurial Development VOLUME 1 The Entrepreneur, Entrepreneurship and Development Principles, Programmes and Policies

Sample text

Professional Manager A person can become a profeSSional manager by the acquisition of knowledge. Knowledge can be gained through formal education. An owner-manager can achieve success due to his personal and cultural traits. Many great entrepreneurs are self-made, for they were not handicapped by their lack of formal education but came out as successful entrepreneurs due to their skill and intelligence. One can easily iden tify such an entrepreneur manager in any profeSSion, may it be bidi or agarbatti manufacturing, polishing or grinding, retailing or wholesaling.

1980: Karl Vesper: entrepreneur seen differently by economists, psychologists, business persons, and politicians. 1983: Gifford Pinchot: intrapreneur is an entrepreneur within an already established organization. 1985: Robert Hisrich: entrepreneur is the process of creating something different with value by devoting the necessary time and effort, assuming the accompanying financial, psycholOgical, and social risks and receiving the results - rewards of monetary and personal satisfaction. 38 1990: Vasant Desai: The Entrepreneur, Entrepreneurship and Development The entrepreneur brings in overall change through innovation for the maximum social good.

To breathe life into his dream, he set about to create steel, electric power and scientific-cum-technical education the vital ingredients of economic growth. Today, the Tata organisation covers a bright landscape in Indian economy. To this day, Jamsetji Tata's industrial philosophy, including his firm belief in the principle of trusteeship, his insistence on absolute standards of integrity, and realisation that to survive and prosper, free enterprise must serve the needs of society, were all remarkably in tune with modern thinking and the ethical and social standards of the most advanced societies of to-day.

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