Enterprising entrepreneurs are being urged to look beyond the traditional boundaries of traditional enterprises to become “enterprise innovators”.
The Times of the India report, titled “Entrepreneurs should be innovators”, argues that it is “time for the industry to look at how to create a new, entrepreneurial ecosystem”.
The report also urges enterprises to look for opportunities that would allow them to “expand the potential of the company to become a bigger, more influential and much bigger player in the Indian economy”.
The Times report states that a key driver of a “new, entrepreneurial environment” is the need to “find more partners, partners that can create more value for their companies”.
Enterprises have traditionally focused on selling their products and services to a broader customer base.
The report suggests that this is no longer the case and that instead the new, entrepreneur-centric approach needs to be focused on building relationships with consumers and customers.
In a statement, The World Bank said the “entrepreneurship” sector needs to continue to be a key component of the global economic growth and that it will “continue to be an important part of the economic transformation that will transform our world”.
“The world’s economies are now growing and the opportunities that exist to help transform the way businesses work and operate are now greater than ever,” it said.
“Entrepreneurialism is an important, fast-growing part of global business.
It is time for the business community to consider how to embrace this emerging economic opportunity.”
Read more about business, globalisation, innovation and the world economy.
This article is part of a series on how the global economy is changing, with stories from around the world.