Entrepreneurship

Entrepreneurship is the Buzz word among all top B schools across the world. All organizations talk about hiting people with entrepreneurial abilities. Such skills are no longer limited to running one's own venture and has lead to coining of words such as intrepreneurship
So what is entrepreneurship and what are the traits of an entrepreneur
I'll try and explain using an entrepreneurship model which I call ALIVE

A- Adapt
L- Lead
I- Innovate
V- Visionary
E- Energize

Adapt- Charles Darwin once talked about the survival of the fittest. The concept, no matter how old, continues to be of relevance. Most companies wish to be of going concern and in such a long run environment kepps changing. Therefore, the ability to adapt becomes very important. Even in the short run this skill is of utmost importance. Business environment has become very dynamic and therefore an entrepreneur must keep adapting to the changing demands of this environment

Lead- An entrepreneur must strategize. The difference between strategy and operations is the path travelled. To strategize an entrepreneur must walk on unknown territories since we talk about a new way of doing something or a new domain to be present in. This is where the ability to lead becomes important. An entrepreneur must be able to lead his team, with motivation and direction, which is often unsure to tread on unknown paths.

Innovate- Getting a competitive edge is essential in today's environment. With the fast flow of information and technology a sustainable competitive edge is not possible without innovation. Stever Jobs is a name that comes to mind when we talk about innovation and his commitment towards innovation has created a separate league for Apple altogether.

Visionary- Dhirubhai Ambani is a man who has been considered one of the greatest leaders of all time. He kept doing what many others considered a mistake. This ability to see oneself at a position beyond what others can see is what is called vision. That position is like a lighthouse in a rough see. An entrepreneur must have the ability to see the light.

Energize- People are the biggest. Asset for an organization. An entrepreneur must be able to get work done from others. Many a times people do not have the will to keep moving towards the organization goal and at these times an entrepreneur must be able to energize his people to achieve those goals.