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New entrepreneurs have emerged as a bigger source of employment than the formal sector and are likely to continue to do so, according to Gopal Srinivasan, Chairman and Managing Director, TVS Capital Funds Ltd.
New age entrepreneurs are likely to create millions of jobs in the future. It is such entrepreneurs, who were never heard of in the past, who have actually created many jobs in the last one decade, more than the formal sector, which has slowed down in job creation, he said. The automotive sector, for instance, may have cut their workforce by half. They may have outsourced more or taken people on a contract basis. But new age entrepreneurs Dusters Hospitality Services, which created 27,000 jobs, JustDial 8000, Dominos 20,000, Flipkart 10,000, and others such as Café Coffee Day, Naukri and TeamLease have driven up job creation, he said while speaking at the in his address at the 13th Madras Management Association Awards for Managerial Excellence-2014.
“All of us should join in this entrepreneurial movement. No company can be built with just capital. It is built with capital and capability,” he said.
Srinivasan urged managers to think about an entrepreneurial career. It does not mean you have to be an entrepreneur. One can join an entrepreneur as a professional. “My appeal to you is to support this strident entrepreneurship,” he said.
India has got amazing management excellence. The combination of entrepreneurship, managerial excellence and capital can really make for a new India.
R Chandrasekaran, Vice-Chairman, Cognizant, and Chairman of software industry body Nasscom, said companies need to have an entrepreneurial system within their enterprise. This will spurt the entrepreneurial spirit among managers.
“The command and control days are over. As a manager, you cannot just dictate your terms and get things done. Nobody will listen to you,” he said.
“You need to nurture innovation and let employees be on their own so that you bring the best out of them,” he said. This year awards for managerial excellence were presented to companies in different categories: Wabco India Services, iGate Global Services, Vaishnavi Biotech, Secunderabad Educational Institution and National Institute of Technology, Tiruchi.
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