Entrepreneurs are risk-taking individuals or a group of individuals who come forward to make money while creating job opportunities for mass. The need for entrepreneurs is because of the greater mismanagement by managers in an enterprise.Why we need more entrepreneurs than managers because they have risk taking ability.
Now coming to managerial philanthropies, they are worthless unless they are invested for some enterprises. Jim Koch, founder of Samuel Adams (Boston Beer Company) reflected on his traditional managerial philanthropies as very uninspiring. Instead of giving money to non-profitable organizations they started making small business loans to small food, beverages, and hospitality business in South Boston. Koch believes that he has created job opportunities as well as having developed the long term socio-economic status of the people of S.Boston. Koch isn’t the only example but many other such entrepreneurs have embraced business as an alternative to non-profits for social investment.
Now when question arises as how to encourage entrepreneurship over managers then FDI is the best opportunity. Even the central government of India feels the thrust of enterprises. Undoubtedly FDI will bring in ample opportunities for Indians to trade with the foreign investment.
The only conflict with entrepreneurs is that they are less organized compared to managers. Even if an entrepreneur is very strong and innovative, the entire organization rests in the arms of the board of managers. A faulty board can out rule the entrepreneur.
This emerges as strength for managers. Therefore in the long run to bring success and development to the individuals in particular and the country in general, entrepreneurs should attain some managerial skills which will add feather to their cap.