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redefining entrepreneurship  |
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by Kumar Mangalam Birla, November-December 2009 |
Let me briefly dwell on the contradictions inherent in the way entrepreneurs function and thrive and the way large organizations function. Entrepreneurship is all about creativity, agility, speed of response, passion, flexibility, the willingness to take risks, and, above all, a sense of deep personal involvement and ownership. Organizations, on the other hand, are constrained in many ways—by structure, hierarchy, collective decision-making, well-defined and institutionalized systems and processes. These are the contradictions one has to resolve. I believe one can and must work out the right balance, one that blends the free form of entrepreneurship with the positive attributes of the organizational form. We have done quite a bit of thinking along these lines and I would like to put forward a few thoughts about how organizations can be infused with the entrepreneurial mindset.
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