The 8 Panelists along with the Moderator, Prof. Ishwar Haritas, shared their thoughts on the topic “Corporate Entrepreneurship”.
Prof. Sushil, Chair Strategic Management Group, DOMS, IIT Delhi
Prof. Sushil said that Corporate Entrepreneurship is an ambiguous area. He took the analogy of Alice in Wonderland and students going to industrial wonderland. He believes that to be an individual entrepreneur or be it in corporate entrepreneurship, most important aspect is to have a vision as to where to reach. He further stated that corporate entrepreneurship contributes only to certain areas for competitiveness and took Indian illustrations such as HCL, Kinetic, and ITC. He concluded with the mantra “To give a LIFE (Learning, Innovation, Flexibility, and Entrepreneurship) to your organization”
Mr. T V Ganesh, CEO, Indiaproperty.com
Mr. Ganesh stated that the fundamental problem running a company or encouraging innovation is-How to let people think within a frame of mind with nothing to lose. He continued that there is an absence of structured framework where employees would be allowed to make mistakes, helping encourage a culture of risk-taking and innovation. He quoted that “Challenge today is to set up an environment to encourage such risk-taking.”
Mr. Srinivas Prasad, Head, Gravitas Advisory
Mr. Srinivas Prasad stated that not all entrepreneurship comes internally, but might also come externally like in the case of CISCO, Intel and Google capital. He added that large companies are looking at accelerators to come up with new ideas for business which help them to stay in touch with disruptions.
Mr. Rohit Rao, Director, Grant Thorton
Mr. Rohit Rao started off by stating that corporate entrepreneurship depends on the kind of organization you are from and the onus is on the company to constantly innovate. He defined the values to be CLEAR- Collaboration, Leadership, Egility, Ability, and Respect. He also commented that the bigger a company gets, more the probability of lethargy to creep in. He believes it is important to foster right talent in terms of encouraging entrepreneurship.
Mr. Vaitheeswaran, Speaker, Angel Investor, Mentor
Mr. Vaitheeswaran said that Corporate entrepreneurship is the fashion in the fag, it will follow a similar trajectory like the start-ups. There is a need to corporates to venture into entrepreneurship to keep up with the competitiveness. He even mentioned that the biggest challenge is the unwillingness of corporates to invest their funds in innovative ideas due to the risks. He believes that the culture of an organization makes a difference in the success of corporate entrepreneurship.
Mr. Darshan Doshi, Head Program Reliance Jio GenNext Hub
Mr. Darshan Doshi believes that the technology front and talent pool play the main role in corporate entrepreneurship. One should be willing to take ownership and adapt new technologies to grow in the market. The purpose of every entrepreneur within and outside an organization is to find the market need. He said that we need to identify and solve the problem. He concluded by saying that an organization’s returns should be exponential after executing an action plan.
Mr. Manish Harodia, Co-founder, and Head of Marketing & Sales, DreamWallets
Mr. Manish started the discussion by stating that the learning in one month of entrepreneurship is equal to the two years spent in a B- School case study methodology. According to him, entrepreneurship is a multiplier of an idea, product, team, and execution. The success of any business depends on the timing of the market. It is the deciding factor for the success of any idea. He shared his thoughts on how demonetization gave rise to many whacky ideas. Individuals with such ideas are influencing big enterprises to change the way organizations are working. He emphasized on idea generation and implementation.
Mr. Saumyajit Guha, Co-Principal, Jaarvis Accelerator
Mr. Saumyajit Guha started the discussion by citing examples in solving problems innovatively in the corporate world. According to him, the manner in which a problem is solved leads to corporate innovation. He said that an entrepreneur is comparatively more free to take risks and launch a new product or service unlike the corporate. This is because of the accountability and ownership factor which is lacking in the corporate. The challenge in the corporate is the job mentalities of the employees, which plays a major role in the execution of successful operations.