Difference between Indian old school businessmen and new-age entrepreneurs.
Indian economy didn’t develop by mind-blowing entrepreneurship ideas. When India got freedom, then the businessmen in India were facing issues. That was how they can sell the goods to the customers or import the goods to foreign countries. Because that time India had no money. Many people were jobless, students couldn’t get a proper education and there were so many other issues. Even TATA was running on debt and loans. Days passed and so much water flowed in the Ganga river. It is the new era of make in India and the era of the leadership of Narendra Modiji. This is not the time of old school business.
Causing a lack of education Indian businessmen can’t grow. Basic knowledge is very important but most of the time either extra knowledge and education blows their mind or less idea put them into the failure list. If someone went to the MBA school to get proper business knowledge, they are always demotivated by the faculties or the faculties provide them with wrong ideas. Even their surrounding personalities always put pressure not to do the proper channelised work. Even an entrepreneur fails most of the time at the beginning of the start-up period. In India, if they fail to achieve the goal for the first time all the surrounding people and even the family members started to pull the guy back.
This is the time of ultra-modern startups and entrepreneurship. It is a common assumption that businessmen and entrepreneurs are the same, but both words refer to a different individual possessing a distinct approach to business. to put it in other words, a businessman follows a set path engraved by some other person with an unoriginal idea, whereas an entrepreneur thinks and believes in making his own path with new ideas. In the future, an entrepreneur can become a businessman. However, between businessman and entrepreneur, there is a thin line difference businessman is a market player, whereas, the entrepreneur is a market leader. A businessman is an individual who operates or starts a business with the same old business idea. The businessman chooses to do business that is high in demand or give him maximum profits in return.
The firm faces stiff competition because many companies already exist in the market having the same business ideas. However, the risk factor is very less as the concept has been tried and tested by other existing companies, so the chance of failure is low. An entrepreneur is an individual who has an exclusive idea to initiate and establish a new venture and bring a change in the world. An entrepreneur is highly creative and innovative, takes a risk and endures the unpredictability of business. The business started by entrepreneurs with a new concept for the first time is known as Start-up. The entrepreneur is an integral part of the operation and builds and deploys the other functions of the operations like labour, land, and capital. Later in the future, the entrepreneur becomes a businessman.