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Srinivas Narne

Student, VNR VJIET

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Does the world has enough number of entrepreneurs? Why? Should a parent encourage his/her child to be an entrepreneur? Why and how?

Entrepreneurs are the major foundation for the world economy. They are the one who design the financial status of the world and its inhabitants. Innovation is another major and useful by product of successful entrepreneurship. Entrepreneurs the major creators of the employment opportunities. They ofcourse play a huge role in shaping the world economy. There are many successful small and big entrepreneurs from different countries spread around the world. But do you think the world has enough entrepreneurs to innovate different fields and create enough opportunities to the world with a population of over 7 billion?
Back your statements with necessary reasons and support?

Should a parent encourage his/her child to be an entrepreneur? Why and how? If not what do you want your child to be and why?

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    Feb 22 2011: In America, most of the people in the top wealthiest 5% of the population are entrepreneurs. The real secret of entrepreneurial success is not just to work hard for yourself, but to get others to work hard for you too.
  • Jul 7 2011: Srinivas, I don't think it should ever be a question of "what do you want your child to be" but rather, "what does your child want to be". I'll give you an example. In the last couple of years I met a student who came to Canada from a south Asian country. This child adored music and was passionate about it. To hear him play the piano would bring tears to your eyes. But his mother wanted him to study business. He despised business and barely tolerated going to school. Of course, this brought a lot of discontent within himself, but there was little he could do about it. I do not know what eventually became of them after returning home.

    The point is, however, that they need to follow their passion - they have their own talents to be realised. If entrepreneurship can be incorporated - great and if entrepreneurship is their passion, go for it. Their inherent aptitudes are clues to their creative abilities.
  • Jul 7 2011: En trerpeneurs create products and serces which improve our way of life. Appreciate their contributions.
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    Feb 20 2011: If you take Friedman's "The World is Flat" concept to its next step, the new world economy will be comprised of many more entrepreneurs. The concept of larger companies with a constant static group of employees will diminish over the next decade. Fewer people work for the same company for life. Company pension plans have faded away. These are just the beginning signs of this shift. The people who will thrive will be those who have the skills of an entrepreneur. The ones looking for steady full time work will find it harder and harder. I intend to teach my children entrepreneurial skills.
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    Feb 17 2011: I'm not sure I agree with the statement that entrepreneurs are the major foundation of the world economy.
    Imagine a world where everybody is an entrepreneur. Do you think that would work ?
    The economy is like a complex clockwork with many cogs in it, small ones and big ones. Each of them is in some way important because just taking out one, makes the watch stop.
    The same is true for the economy. We need entrepreneurs as we need inventors, bankers, carpenters and any other profession which products and services we use in our daily life.
    Also, many people are entrepreneurs and don't even know it. You can be an employee in a company, but if you are proactive, taking initiative, assuming also the risk for your acts, then you already fit the definition of entrepreneur.