Reflective Record on Entrepreneurship and Business Management

INTRODUCTION

It was at the month of Sept'2010, when my regular classes for the course of M. Sc. in the component of entrepreneurship and business management were about to end. I have been asked to prepare a report about Outsourcing to understand how it is helpful the global organizations. Report which was supposed to give understanding about business plus they work to the concerned organizations in various respect including the evolution, meaning, range, benefits, risk involved, the various problems involved, implementation, major players, and the functional areas and many important issues which need to be taken treatment off. However, I have already been familiar with commercial entrepreneurship and had read it as a subject and various business and management generally, but while moving in business and preparing a written report one need to go for an considerable study and profound degree of knowledge and understanding for the topic. For proper understanding even you have to visit for numerous research paperwork, case studies and so many more stuff in order to get to the depth how it works in the corporate world. It was also expected that possessed to go through published records in magazines, portals and publication about corporate entrepreneurship and business management in a variety of organizations and even are the results in my own statement for ready guide. I had been also likely to draw inferences from different ventures and deals launched under commercial market by various organizations with the details. These conclusions are supposed to help consumer in deciding in planning, deciding and reducing risk so as to outsource the non-core functions and focus on the center business under corporate and business entrepreneurship programs. Success of all big multinationals is the result of this global outsourcing industry which provides every useful service and help the organizations to be more affordable and increased efficiency and hence, are growing at a fast development rate. Though its never not easy to collect literature and experiences of men and women and industry but I put done all what I possibly could and also have enriched with lots of knowledge in the global outsourcing industry and even will think for moving in as an entrepreneur was quite enthusiastic and sensed motivated to work on this issue as it appealed me a lot and is effective to me in case I opt to be an entrepreneur in some point of time in the near future.

Topic directed at me for dissertation is very much indeed relevant and important to emerging business scenario in today's world. The business enterprise world is very strong everywhere and in every aspect. Especially it is scientific developments, which can be happening at extremely fast pace. Changing politics environment, regulatory device, interpersonal changes and changing customer needs & tastes have necessitated that organizations keep on adapting to new group of business environment. But it is increased global competition and scientific advancements which are forcing organizations to look for innovative solutions. If organizations have to stay competitive and profitable with sustainability, they need to come up with progressive products, services and strategies which can be of great value for customers. But organizations, which already are running their procedures successfully, need not to disturb their container of successful products and could try some new product range. It isn't about bringing out new products only, but making major changes also, which might result in complete reshaping company insurance policies and set ups. Though each one of these practices has been around constant use across the world, however, not done scientifically, making results more unpredictable and ventures consisting higher amount of risk. Now attempts are being made to apply entrepreneurship to businesses in a big way, to improve competency and success.

RECOLLECTION OF EXPERIENCE

I started focusing on the dissertation in the end of July 2009. Though I have experience of working in entrepreneurial organizations and good amount of visibility, but working in the area of corporate businessman was comparatively new to me. I started out the duty by discussing commercial entrepreneurship with some mature level managers working in the field as well as looking for this in internet. Preliminary internet exercise helped in getting the basic idea about commercial entrepreneurship, its visible benefits, opportunity and status of its request in organizations. Once I acquired the theory about corporate and business entrepreneurship, I began looking for some practical idea about any of it and the degree to which it seems highly relevant to business executives. I got surprised to see that it is not only the independent entrepreneurship but the corporate and business entrepreneurship which is used in almost all the organizations to make it through, compete and develop in highly energetic market. It is observed during talks with professionals, that access of multinational companies, who are experiencing better quality products and services have given customers a new selection of options to select from. This is forcing staying companies to believe innovatively for creating products, services and looking for new market segments so they can maintain their potential to be competitive and continue to be profitable.

I have a friendly relationship with one lecturer, who is a power engineer, placed in electrical anatomist team of Pusa Polytechnic, doing research in management issues of commercial world in and around Delhi. He's very enthusiastic in doing work for the region of corporate issues. AS I discussed the issue with him, he not only let me insight of corporate and business entrepreneurial work and practices, widespread in industry. He got me in institute collection, where he shown me area meant for entrepreneurship. Sufficient material on the issue concerned was available there. It was not the availability of materials but his interest and eagerness which helped me a great deal in pursuing the dissertation work. In him, I found a friend, experienced and competent enough to go over some center issues of not only corporate entrepreneurship, but other real-time issues concerning to industry. He has not only theoretical understanding, but an extremely practical idea of events & issues happening around such as regulatory system, company laws, administration policy, law & order situation, staff issues, and other technological developments. It is being with him and speaking about various issues that we became aware the impact of scientific development not only on techniques followed in companies, but also on financial implications of computer. Besides that scientific improvements are also influencing customer needs and preferences a many ways. So effect of technology is not limited on company's interior procedures, but also on strategies it adopts in marketing. It had been most significant and crucial stage of growing my dissertation once i was with him as he helped me in indentifying various problems to be investigated and in developing a roadmap for future working. He also made me dealing with focused attitude.

When I came to Delhi and started looking for materials for dissertation, idea of heading to Indraprastha School situated in email city of Delhi. AFTER I went to college or university I found that we now have 12 faculty people representing each wide-ranging region of management. However when I tried to discover faculty member having interest in the field of corporate entrepreneurship, I possibly could not do well. Faculty customers were thinking about issues which are very conventional. Though problem of corporate entrepreneurship is very much indeed relevant and practiced by companies in India, but has escaped the attention of most of the academicians. I QUICKLY tried to consider material in catalogue but there also literature were available on basic subjects that are taught in classes in program. There was no material available on issues like commercial entrepreneurship.

Internet is also an important source of information now days. Lot of information is offered by internet, but one must be cautious about as what things to pick up and what not to grab. Though so you can get original idea on every topic, it serves the purpose. But authenticity, integrity and validity of information are few items, which need to be considered well before picking up information from internet. A lot of the research papers are available on paid websites, in support of few are available free. But these few available newspaper serves the reason good as they provide quite a good insight report about issues in worried area. But generally information available will come in piecemeal rather than complete in the concerned area. People and organizations upload the info only to minimal degree having purposes other than disseminating it. I also felt that the majority of the info which is on paid websites is quite costly.

I went to Indian Institute of Delhi seeking assist in preparing report. I found that faculty users were too busy and did not had any time for people coming from outside for any assistance. It could be said easily, that IIT has among the best library, where usage of almost all credible journals can be found. I collected most of the material from there only. However when tried to maintain touch with students in IIT, individuals were busy along with his own works. So I felt i was just alone, with no person to get help from. I went looking for collection, looking materials inside the catalogue, looking for place, where I can get materials photocopied. There was low degree of connection for network, if one attempts to use his lap top. Otherwise also when I met faculty customers in IIT Delhi, I believed that corporate and business entrepreneurship was not the topic, anybody being thinking about it. Though India is one country where corporate entrepreneurship has been practices automatically alone. It does not require management encouragement, but employees try it out whenever so as to boost their working style, culture and initiatives required to be put in the task assigned to the. Corporate and business entrepreneurship helps lower level employees in bettering their work life which automatically brings efficiency in their working. When these work are seen on organizational level, it is available that cumulative aftereffect of all employees putting in efforts lead to making business effective and efficient.

I also tried to get a picture on corporate entrepreneurship in various organizations with the help from my friends who are used in various organizations. I was up to date by almost every of my friend, that organizations, they are working for, are engaged in adding efforts towards corporate entrepreneurship on constant basis. It is almost necessary these organizations strive towards corporate entrepreneurship, as authorities of India regulations towards checking of Indian economy has given admittance to many international companies in India, who are doing extremely well on account of their technological superiority and financial muscles. These multinational organizations are offering better products, services and are useful in handling their structures. It has put Indian organizations on alert, who've been for quite some time worked in protected economy with smaller or negligent competition. But when I seen the working of my friends and asked them the real reason for this hard working, I came to comprehend the impact of scientific developments and access of multinational companies in Indian markets. It is no longer easy to get customer loyalty unless company really comes out with progressive products giving better value to customer for his money.

I have been given birth to and brought is Delhi. I have seen the grade of services of various utility companies such as energy supplying companies, cell phone service providing companies and even bankers, insurance companies, private hospitals etc. It had been all peaceful work culture in MTNL easily am in a position to recall rightly. Problem was rampant for any kind of service, there have been long queue of customers looking forward to new interconnection and higher functionaries almost inaccessible for any kind of work. There is hardly any kind of new products or services offered to customers for their changing needs. But with the admittance of private players in the field, companies have to consider new product so as to retain the clientele. Services offered like IPTV and 3G mobile telephony and a full selection of broadband services fitted to almost everybody's necessity, shows that corporate entrepreneurship is going on within the company. Totally new divisions has been shaped to take care of newer products, so as new business opportunities can be exploited fully without parent or guardian organizations philosophy to arrive just how. Similar initiatives have been also devote practice, in electricity supplying companies. In previous years all the functions, either technical or financial were dealt with by technical engineers only in company. Noticing that it is leading to problem, bureaucracy and inefficiency, company segregated commercial and complex divisions in definite terms. This resulted in drastic improvement in service quality and also verifying the fraud of electricity in most part of the city. Now company does far better fiscally as well as on other guidelines such as establishing brand value & leveraging it in other businesses.

GROUP DYNAMICS

AND

LEARNING FROM EXPERIENCE

Friends are of not of any help because they are not from management background. What so ever before friends are from management, they aren't in the area of entrepreneurship. Applied friends are preoccupied with too many personal and professional tasks other than this one. Otherwise also peer group remains occupied with other glaring subject areas all the time. Academic subject, that even from professional site will not interest fellows in peer group. Though I believed this issue is so interesting, that everybody practice it at individual level as well as in businesses, where ever they are. As an individual everybody try to put in nominal efforts, exactly in the right course to get best results out of it. Even while on work, people are seen thinking and acting in such a way, that minimizes input and maximizes end result. It may be on account of fewer opportunities of work as compared to the number of folks seeking these that once people land up in a few job, they make an effort to give best possible effort towards group. Generally people are also seen underemployed. Here as people are better skilled and skilled from what is actually had a need to perform some jobs, they keep on trying some impressive solutions often becoming successful at their end. When these attempts have emerged in totality for all the employees, we see business becomes a learning business. Attempts by all the employees at their end to boost efficiency and success of their actions result in making the organization efficient all together. This practice, of employees investing in initiatives to make their work life comfortable, is available to be methods in virtually all the small establishments, wherever I frequented and tried out to look directly into meticulously in employees working.

I went to one organization named 'GKB optical'. It really is a small group using approx 300 visitors to get a functional idea and views of mature management executives as what they think about commercial entrepreneurship in Indian business environment. I was surprised to observe that they were practicing both types of corporate and business entrepreneurship, without officially naming it officially. It

was organization wide corporate entrepreneurship as well as focused corporate entrepreneurship being methods. All of the employees were given freedom to are the way they felt, it will save time and energy. Though there have been broad recommendations for working such as time allotted for tasks and maintenance of the machines. But they were given freedom the way they would like to work on the machine and the sequence they want to follow. Hierarchal setup is also not so strict. People are encouraged to own communication with higher functionaries, if they have any idea which can add towards increasing performance and production. Also at the level of senior management, I came across them deliberating on the various issues in wine glass industry. Technological improvements, opportunities in international marketplaces and regulatory issues are few very important issues that have been discussed in great information. It is not the debate only on these issues, but appearing needs of customers also, that happen to be discussed and makes an attempt are made to discover new opportunities for business in these areas. It shows very plainly the sincerity shown and efforts made by Indian organizations, in adding corporate entrepreneurship efforts being put to stay competitive in the era of globalization and liberalization facilitating admittance of multinational companies in Indian business scenario resulting in increased degree of competition. It become rough to provide referencing for the useful material got through experience people. It is also relevant to get hand on experience people have at lower level in organizations. Because of shortage of time, questioner cannot be prepared.

LESSONS FOR FUTURE PROJECT

I made few important observations from my all attempts being put in this dissertation. Important observations can be summarized as below.

Internet is very effective tool in getting preliminary idea and wide ranging information about

Approach right from the beginning must be focused.

Unless you are part of an team of highly determined professionals, you do not get much intellectual inputs from your peer group, especially it people in group is actually young.

It is not all the educational and research organizations, which really devote attempts to keep themselves up to date. A lot of the institutions just continue to be occupied with regular teaching, examination and conventional topics of review. Even faculty members do not put efforts to upgrade themselves.

It is go for few institutes of higher learning, who have an environment of updating themselves combined with the industry. Even here it isn't all the faculty users, who take lively involvement in such activities. But regrettable facet of these institutions is the fact, their resources such as library, faculty and laboratories continue to be too much occupied. It leaves little range for just about any help from these corporations. It happens only when scholar himself is highly determined and enthusiastic and experienced in taking initiatives & controlling affairs that he may take out reasonable amount of help from here.

It is great if one can find out and web page link up with few energetic, enthusiastic, experienced and skilled professionals, who've exposure and upgrade to what is happening in the field of interest. That's of great help in doing dissertation work.

One need to be very systematic and organized in undertaking dissertation work. An in depth planning should be produced with list various possible resources of help & information. A definite roadmap as how and when different resources will be approached with specific objectivity associated atlanta divorce attorneys action being undertaken.

CONCLUSION

It has been sensed by me that whenever serious work are being put to build up concept and understanding of various issues in some particular site of business, it refines not only one's thinking, philosophy but also have a deep impact on personality. One results in and interacts with specialists in various walks of life, not only from academics and industry but other field also such as regulatory bodies etc. In addition, it makes someone to think really about the reason why and repercussions of varied incidences taking place in contemporary industrial scenario. It helped me in understanding the components of the process for gathering information from various sources. In last Personally i think that whole process, I experienced served the goal of making me understand the procedure of making academics inspection on some business issue and gave me more insight, confidence and coverage for this.

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