On 9th December 2014, Dr. Ramakrishna Velamuri shared some of his views on entrepreneurship. He teaches Entrepreneurship and Negotiation in the MBA, EMBA and executive development programs at the China Europe International Business School (CEIBS). He has taught as a Visiting Professor at the Indian School of Business (ISB) since 2004. He set the framework of entrepreneurship as the attractiveness of opportunities. An idea should fit with our personal goals, values and risk appetite. He gave the example of the very famous vada pav chain Goli Vada Pav as a business which suited the risk appetite of its ownersas they gave the informal vada pav industry an organised feel. He noted a team’s ability to execute plan as a very important factor in excelling in a business. Teams must be complementary more than friends so that they can deliver on key success factors. He said that the present scenario is the best time to be an entrepreneur due to the market attractiveness. Post the liberalisation the market has been conducive to the entrepreneur. But starting a business with a novel idea must compliment with the good execution.
He stressed on the fact that entrepreneurship makes life easier for the people. Problem solving with cost effectiveness results in a good venture. Major priority must what is the value proposition for the customers and how good is the solution which we give. An idea to be converted to a business also depends on its investibility. Such business must also have the mileage to grow.
Vishnu Arvind Pradip
PGDM 2014-16 BATCH