How Entrepreneurs are Reimagining India's Economy
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
According to Webster's Dictionary, an entrepreneur "is a person who orga nizes and manages any enterprise, especially a business enterprise, usu ally at considerable risk and initiative". As a management consultant I have guided many business leaders with the disci plines of systems think ing and systems acting to navigate through VUCA (volatility, uncer tainty, complexity, and ambiguity), and ways to create innovations in their enterprises. Twenty years ago, my interest shifted from the world of business entrepreneurs to the broader world of social entrepreneurs. I participated in a meeting on "Business as an Agent of World Benefit", between the UN Global Compact, of whom I was a senior adviser, and the Academy of Management in Cleveland in 2006.
The UN Global Compact is an international organiza tion of business corpora tions that have volun teered to conduct their businesses in a way that will improve society and save the environment. The Academy of Man agement is the largest organization of business management teachers in the world. Over three days, thousands of persons from around the world participated in the meeting online and in person. A survey of 2,100 students in 87 business schools found that 87 per cent believed that cor porations should work towards societal goals, but only 18 per cent believed they were. Two statements by students were compelling. One was: 'The key business role should be to develop society, not profits'. The other: 'Profitability is easy: changing the world is hard'. Business entrepre neurs and social entre preneurs live in very different worlds.
The measure of the success of a business entrepreneur is how wealthy, and how quickly, he or she becomes. The value of an enterprise to the country cannot be measured by the value it creates in stock markets. The measure of success of a social entrepre neur is how many poor people's dignities and lives are improved by the enterprise, sustainably. The caring of business entrepreneurs for society cannot be measured by how much of their wealth they give in philanthropy, which is usually a tiny fraction, or by a corporation's expenditure on CSR, the norm for which is only 2 per cent of profits. Their contributions to the improvement of the condition of their societ ies must be measured by how they produced their wealth and profits.
What impacts do their products and services have on the lives of the poorest people? How many people were engaged in the produc tion and delivery of the products and service? Were they paid well, and provided with adequate social security? How was the environment destroyed in the process of extracting value for their business? Indian entrepreneurs must reimagine their contribution to India through the lens Ma hatma Gandhi provided. He gave a talisman to en trepreneurs and leaders, in business and govern ment: Anantodya. When ever you take a decision, think of how it will improve the life of the poorest person in your community. Or, as Lord Krishna said to Arjuna in the Gita. You have a right only to the work, not the fruits thereof. The fruits of your work must be the improvement of the lives of the poorer people of India, not the increase of your wealth and fame.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
21 minutes ago
- Forbes
Harnessing Artificial Intelligence For IT Operations
In today's fast-paced tech world, IT decision-makers have their hands full managing increasingly complex infrastructures. This is where Artificial Intelligence for IT Operations, or AIOps, steps in, offering a game-changing approach to managing IT infrastructure. Let's dive into how AIOps can help and how you can get started. Complexity Is Driving AIOps Adoption As IT environments get more complicated, the need for a solid, adaptable, and reliable infrastructure goes up. AIOps uses artificial intelligence and machine learning to automate management processes, making everything run smoother, more reliably, and at a lower cost. Forrester found that companies using AIOps cut downtime by 50% and reduced the meantime to repair by 40%.1 Gartner also notes that AIOps can slash IT operational costs by up to 30% by automating repetitive tasks and catching issues before they become big problems.2 The Full-stack Observability Imperative To stay ahead of potential issues, you need a clear view of the entire tech stack. Full-stack observability (FSO) uses AI-driven insights to detect anomalies and predict problems before they occur. Modern AIOps platforms, such as those from Gigamon, ScienceLogic, HPE OpsRamp, and Cisco's Splunk and AppDynamics, integrate the best tools to provide comprehensive visibility and actionable insights. Preparing for AIOps Implementation Starting with AIOps can seem daunting but taking it step by step helps. Begin with a thorough audit of your current setup to spot areas where AIOps can make an immediate difference. Then, test the waters with a pilot program on less critical operations to smooth out the process and get your team up to speed. Collaboration is key. Make sure everyone—from IT to Security—is on board and that your AIOps solution can gather data from all sources to provide a full picture. Training and workflow tweaks are essential to keep disruptions to a minimum. Additional Automation Technologies Other technologies, such as intent-based networking (IBN), Infrastructure as Code (IaC), and process automation are also transforming IT management. IBN allows networks to self-adjust to meet defined goals, IaC lets you manage infrastructure with code, and process automation partners with AIOps to handle routine tasks and complex issues like anomaly detection. These tools create a dynamic, responsive, and scalable environment, which is crucial for supporting digital transformation efforts. AIOps Capabilities Wish List When shopping for AIOps solutions, look for these critical capabilities: AIOps is a game-changer for IT infrastructure management, offering significant benefits in terms of operational efficiency, cost savings, and reliability. By taking a phased approach to implementation and leveraging additional automation technologies, IT leaders can ensure a smooth transition and get the most out of AIOps. Ready to unlock the future of AIOps? Discover how Connection's modern infrastructure and AI solutions and services, including Helix Center for Applied AI and Robotics, can revolutionize your infrastructure.
CBS News
21 minutes ago
- CBS News
Want to qualify for credit card debt forgiveness this August? Don't do this.
It's understandable if the idea of having a large portion of your credit card debt forgiven sounds too good to be true. After all, in today's still sticky inflationary climate in which the rate rose in the last two months and in which elevated interest rates are making borrowing cost-prohibitive, it may feel like there are few viable options for regaining your financial health. But if you're stuck with high-rate credit card debt, forgiveness may be the solution you desperately need now. For qualified borrowers, a credit card debt forgiveness program (also known as debt settlement) can help reduce your balance by 30% to 50%. That's real relief that can be the difference between financial independence and remaining mired in high-rate debt indefinitely. But if you want to qualify for a credit card debt forgiveness program, it's important to start by understanding eligibility. This may require making some select moves now, especially if you're looking to be approved to start the plan this August. And it may require avoiding some missteps, too. In other words, if you're looking to qualify for credit card debt forgiveness this August, it's equally important to know what not to do. Below, we'll break down what you need to know now, this July, that can help you qualify before August 31. See how much of your credit card debt could be forgiven with a program here today. While the following list is not exhaustive, by avoiding these three seemingly innocent (but costly) mistakes, borrowers can improve their chances of being approved for a debt settlement program. It may seem counterintuitive to stop making payments on your credit cards when trying to get debt relief support. But that's what will be required if you're looking to qualify for forgiveness. Consider halting your payments, then, whether they be automated minimum ones made each month or those you make independently. By making your payments, even if they're doing little to reduce your overall debt, you're demonstrating an ability to pay to the credit card company. Sure, this may take months, years or even more than a decade to pay off what you owe in full, but making payments implies an ability to make some sort of progress, thus reducing your likelihood of being approved for forgiveness. And, yes, halting payments will damage your credit score, but if you need the help credit card debt forgiveness offers, the majority of that damage may have already taken place. Learn more about the credit card debt relief options available to you now. One of the key ways to qualify for credit card debt forgiveness involves demonstrating an inability to pay. If you have a medical issue that's hurt your ability to earn an income, a job loss that has left you without a viable income stream or something else entirely, you'll need to prove it to qualify for help. So don't throw away your medical bills, proof of job loss or anything else that clearly illustrates your current financial circumstances. Sure, you may be able to request copies of the paperwork needed here, but that could take weeks or even months to secure, delaying your forgiveness approval comfortably past August and potentially well into the fall. You'll typically need $7,500 to $10,000 worth of credit card debt to be approved for a forgiveness plan. But if you don't have that much, increasing your debt load to meet that threshold isn't the right move. Remember, forgiveness will only cover 30% to 50% of what you owe, so you'll just be causing your debt load to increase unnecessarily. Additionally, with alternatives like debt management programs, credit counseling and debt consolidation loans (among others), there are multiple debt relief alternatives available and worth exploring if you don't have enough debt to qualify for forgiveness. This is a good problem to have as it means your debt situation is more manageable than others, so use that to your advantage and avoid racking up additional debt to meet the forgiveness threshold requirements. This summer could be the smart time to start the delayed work of getting out of high-rate credit card debt and regaining your financial independence. If you're focused on qualifying for a forgiveness program, however, avoiding these mistakes can help you become a more attractive candidate for debt relief companies. The key here, however, regardless of whether it's via a forgiveness program or some other debt relief service, is to be proactive and to take action. It likely took a long time to build up your balance, and it will take time, effort and due diligence to dig out of that financial hole, so starting that process as soon as possible makes the most sense now.
Forbes
21 minutes ago
- Forbes
Freelance or Full-Time? How to Choose Your Next Career Move
Should You Go Freelance Or Hold Out for Full-Time? I was recently laid off with some severance, which gave me some cushion in the job search. I know the job market is a slog though, so I wanted to make sure my skills are kept sharp not just for my next job but really in the long run. I am considering setting up an editorial and content strategy consultancy, so that at least I have recent projects that can continue to be valuable to potential employers. Would setting up a whole new business get in the way of actually seeking a job? Is that dividing my attentions/efforts into competing buckets? In a perfect world, if I knew I could not fail, I would set up my own consultancy offering fractional editorial leadership, from content strategy to execution, but I also don't know if I have what it takes to be a solo entrepreneur. – Experienced Journalist The best next career move is not a one-size-fits-all. It depends on your interests and priorities, as well as your runway for how long you can hold out for what you want (e.g., money you have to support yourself, emotional capacity to live in the uncertainty). It also depends on opportunities available to you – if you're an AI expert and getting multi-million dollar offers, you may want to ride that wave. This journalist asks about launching a business or looking for a job. When you're unemployed, that is your first fork in the road. Do you hedge your bets and try both? Or go all-in on one option? Why You Should Focus On One Option – Either Freelance Or Full-Time A big part of landing your next opportunity will come down to networking -- whether you're establishing a business and pitching your first clients or interviewing for jobs and pitching prospective employers. If you're pursuing both, you risk sounding undecided and therefore less attractive to either clients or employers. Even friendly networking contacts may be hesitant to refer you or just get confused about what you want help with (i.e., new business or job leads?). In addition to networking confusion, your branding may seem unfocused if you're speaking to clients and employers at the same time. Your LinkedIn profile plays a prominent role in your next move, and you have only one public profile. Your resume, networking pitch, and even professional references also need to be tailored to a next step. Why You Don't Have To Choose And Should Pursue Both Freelance And Job Search That said, there are professionals at different levels, in different roles and across industries who have managed to hold a traditional job and build a side hustle at the same time. The potential networking and branding hurdles are not insurmountable. You will need to show that you can perform as both a consultant and in-house and that you're genuinely interested in both. A big benefit to you of pulling that off and pursuing both business launch and traditional job search is that you broaden your chances for finding your next thing. If you're like this journalist who is not 100% sold on entrepreneurship, pursuing both is a way of experimenting before having to decide. Another big benefit is a speedier route to getting hired. Your next business client as a freelancer or next employer as a full-timer might be the same organization, so making yourself available to both a consulting assignment and traditional job can make it easier for that organization to say Yes. It gives them options, in case their budget is for outside vendors or for a permanent headcount. It gives the organization a try-before-you-buy option, as they can bring you in for a limited time or single project and then convert from temp to permanent, full-time. It also gives you a try-before-you-buy option, and you might decide to stick to consulting or hold out for another employer. How To Maximize Your Career Potential In Today's Job Market Today's job market has been linked to chaos, competition and uncertainty (yikes!). This gives the edge to Team Both – pursue freelance and look for a job. For each opportunity you consider, make your pitch less about the mechanics of consulting versus in-house and all about the best way to solve the problem your client/ employer is facing. Preview your solution, and emphasize your expertise – whether you come in as a freelancer or full-time employee is secondary to the fact that you will help them. In your networking and branding, keep the focus on your results – how you get paid is secondary to getting results. As you build up your business, you may find that landing a job is something you can layer on top of your existing business. In an uncertain market, having options is critical for moving forward. In a chaotic market, multiple sources of income is the foundation of career security.
