Entrepreneurship revolution underway
THE world stands where it is right now as a result of a series of revolutions that took place and such progression is not stopping any time soon. We passed through the agricultural, industrial and technological revolutions. It is now time that we glide into the entrepreneurship revolution.
Producing all that was required for consumption and national growth used to be a game for large businesses. However, the gears are fast shifting to having small global entrepreneurial businesses taking centre stage, leading the entrepreneurship revolution.
One might ask what an entrepreneurship revolution is. It is also proper to have everyone understand it now as it is going to be the buzzword throughout the year 2023 and beyond.
We have all known an entrepreneur as a person who identifies market opportunities and converts them into unique businesses by innovatively configuring resources at their disposal and coming up with solutions to the market in the form of products or services, bearing all the risk and rewards therein.
A revolution, on the other hand, is a sudden, radical and complete change. It can be defined as an activity, process or movement designed to effect fundamental changes in the socioeconomic sphere. Therefore, the entrepreneurship revolution is a radical departure from the big corporates’ way of running business, where decision- making is centralised, red tape is rampant and you need that large industrial setup to produce goods. The entrepreneurship revolution promotes production through entrepreneur-led small global businesses that are more efficient, innovative and productive.
Worldwide production and productivity have since shifted from large corporates to small and medium enterprises. Statistics point to over 70 percent contribution to the gross domestic product of most developing nations coming from these small, micro-managed organisations. Promotion of such a sector will lead to a massive boost in economic activities and national product.
Where do we start from?
The revolution has already started but in a more disorderly fashion. On entrepreneurship, there is every need to be deliberate in decision-making, and strategic action and intention. I have received several calls from high school learners inspired by these weekly entrepreneurship articles. They are really passionate about entrepreneurship and want to be initiated into it and start their journey from there.
We have men and women who call themselves entrepreneurs out there. However, they are mere businesspeople for they fall short of the traits and experience of real entrepreneurs.
◆ Dr Kudzanai Vere is an entrepreneur, author of four books, and award-winning entrepreneurship and business coach.
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