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Management Concepts & Organisational Behaviour - Creativity And Innovation

Entrepreneurship vs. Managership - Creativity And Innovation

   Posted On :  19.05.2018 11:23 pm

Entrepreneurship involves initiating changes. Doing things in an innovative way.

Entrepreneurship vs. Managership
 
Entrepreneurship involves initiating changes. Doing things in an innovative way. It refers to creation of a new organization. Management, on the other hand, refers to the ongoing coordination of the production process, which can be visualized as a continued combing of the factors of production. It involves managing an existing business. Consequent to the liberalization polices pursued by the government, Indian industry is exposed to stiff, sometimes, even cut-throat competition, not only from other enterprises within the country but also from outside. As a result, the axiomatic truth survival of the fittest’ has become the reality in the Indian corporate sector too. Failure of managements to respond appropriately to changing realities would cost them dearly. In the wake of profound changes in the various segments of the environment – technologists, economic, socio-cultural and political – Indian industry has to unlearn its older practices and prepare itself to meet the challenges. To quote Peter Drucker, “in turbulent times, an enterprise has to be managed both to withstand sudden blows and to avail itself of sudden unexpected opportunities”. As such the need for entrepreneurial managers with innovative outlook who always search for change, respond to it, and exploit it as an opportunity is now greater than ever before. They are the ones who make a difference, while ordinary managers are effective only in managing stable, routine and cost-effective business.

 

Tags : Management Concepts & Organisational Behaviour - Creativity And Innovation
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