Running an enterprise is not a distant dream anymore. Digitisation has spurred many family-run businesses to become technically resilient. Services and consultancies are growing more niche leaving the cookie-cutter approach of traditional family business practice far behind. Connecting these thoughts were eminent speakers at the master class for family-managed entrepreneurs and start-up founders by SP Mandali’s Prin LN Welingkar Institute of Management Development & Research (WeSchool) in collaboration with Rotary District 3141.
While sharing his thoughts on this collaborative effort, Uday Salunkhe, Group Director, WeSchool, said, “According to a recent survey, almost 79 per cent of early-stage Indian entrepreneurs were motivated to start a venture by some business opportunities, which is the highest amongst BRICS economies. Correspondingly, only 19 per cent of the early-stage Indian entrepreneurs were forced into entrepreneurship due to a lack of other alternatives and 34 per cent of the adult population was improvement-driven entrepreneurs. Taking cues from this, WeSchool has designed the PGP-Entrepreneurship Programme, which focuses on the practical application of theory that helps entrepreneurs to acquire, apply and assimilate the latest management concepts in the business environment.”
Rotarian Praful Sharma, District Governor of Rotary International, in his opening remarks, highlighted the contribution of the business community in the growth of a city like Mumbai, not only through innovative ventures but also by finding windows to channelise their resources for the benefit of the society through the Rotary network.
Other noted speakers from the industry brought into discussion the true meaning of entrepreneurship and lessons for businesspersons in a competitive age of business. Sanjay Verma, Vice-President, Head - Learning and Development for Petrochemical Business, Reliance Industries, shared the mantra of how to stay relevant in today’s business scenario while international wellness and fitness guru, Mickey Mehta, spoke about the Indian concept of prakruti and parush , and elaborated on how the integration of these two elements brings about business evolution. "Be aspirational, not ambitious. Learn to earn money not make money. Make your business evolve, focus on the evolution plan, not just the growth plan," he advised the young entrepreneurs.
WeSchool alumnus Chetan Sood, Founder-Director, Olej Energy Private Ltd, shared the lessons in reinvention as he narrated his transformative journey from being the scion of a business family to management student and passionate entrepreneur. “Failure is the foundation of success. Entrepreneurs need to keep relearning and unlearning to stay relevant in business. Going back to formal learning helps gain a refreshed perspective about the business ecosystem, widens the circle of influence and inculcates a disruptive mindset,” he said.
The event culminated with Yashraj Akashi, Senior Ambassador and curator, TEDx, sharing his thoughts on finding a purpose in whatever you do.
WeSchool’s PGP-Entrepreneurship Programme is an 11-month, first-of-its-kind programme especially for young scions; business people who own small and medium enterprises, and budding entrepreneurs.