BUSINESS MANDATE
fountainhead of excellence
1 MAY 2022
BUSINESS MANDATE
fountainhead of excellence
53 MAY 2022
MMA in association with Madurai Management Association and Konrad‐Adenauer‐Stiftung ﴾KAS﴿ alongwith the support of like‐minded organisations organised an offline conclave on the theme, ‘The Making of a Successful Entrepreneur,’ at Hotel Taj, Madurai on 19 March 2022.
M
r
Shanmugasundaram,
Circular economy will help India
venture capitalists, PE fund owners
Madurai
to the tune of 40 Lakh crores by
and others are ready to fund them
Management Association
2030, he said. India is estimated to
now, but during the previous era,
delivered the welcome address. Mr
reach a net zero economy by 2070
funding was very restricted in view
Pankaj Madan, Deputy Head-India
by which time 50 million jobs are
of the risks involved in a starting an
Office and Head Programmes, KAS
going to be created. By 2030, there
enterprise, he noted.
delivered the opening remarks in
will be economic opportunities
which
worth 1 Tn $, he explained, quoting
President
he
highlighted
activities organised
of
and by
various
programmes KAS
worldwide
including the political dialogue programmes
and
programmes
organised in India. He requested the entrepreneurs to add a ‘Green Tag’ when looking at business plans and made a strong case for sustainable business
practices,
including
practising of ‘circular approach to production.’ 54
MAY 2022
from published reports.
&
about
announced
various in
the
promote
startup
ecosystem,
Magistrate,
especially in Tier 2 cities. Three
Madurai, delivered a special address
startup hubs are planned in Erode,
on
‘Startup
Madurai and Tirunelveli, he said. He
Opportunities in Madurai and the
noted that the startup incubator cell
Support of Tamilnadu Government.’
in Thiagarajar Engineering College
Startups were there even during
is doing a good job and hoped that
earlier decades but now it has
investors will support startups
gained much importance. There are
coming up in Madurai.
the
District
measures
spoke
Tamilnadu government budget to
Dr S Aneesh Sekhar IAS, District Collector
He
theme,
many startup owners now, because BUSINESS MANDATE
fountainhead of excellence
Dr Asit K Barma, Director, Bharathidasan
Institute
Management
spoke
on
c) Leveraging existing natural
of
resources in the State and doing
the
value addition in Tamilnadu itself.
convention theme. He spoke about the massive shift from individual company-focussed business models to platform based models and about
d) Focussing on developing the ecosystem and skilling, upskilling, reskilling the State’s youth.
The trade‐off between values and valuation is an important factor. More than mere valuation, the values that companies provide will ultimately matter.
how Amazons, Olas and Ubers and
Mr Peter Rimmele, Resident
Tech companies like Google share
Representative to India, KAS spoke
the
market
on ‘Entrepreneurial Ecosystem in
capitalization and how they have
Germany.’ He pointed out that
Thiagarajar Mills Pvt Ltd, the Chief
created
themselves.
German entrepreneurial ecosystem
Guest stated in his address that as
According to him, for India, to reach
has a huge impact on the European
the bank interest rates have come
1Tn$ economy by 2030 is a tall
entrepreneurial ecosystem.
down throughout the world post-
major
pie
values
of
for
order and to achieve this, we have to
grow
in
a
non-linear
way.
Traditional companies always were creating value using their internal resources whereas the Amazons create value by orchestrating their external
resources,
he
said.
Companies today must aim for Scale, Scope and Speed (3S) to achieve exponential growth, he argued.
Mr Peter Rimmele stated that there are six pillars that hold this entrepreneurial ecosystem, namely: the policies of the government / companies;
financial
system;
culture; the support system; the human capital and the market situation. These pillars are unique to each country and therefore, they cannot be copied, he remarked. He touched on the social projects
He predicted that today’s cold
undertaken by the companies in
war will be centered on data. For
Germany, which is slightly different
getting higher productivity from
from the CSR concept in India. He
existing
in
opined that in India, the system is
Tamilnadu, he suggested the below:
overregulated and under-governed.
factories,
especially
a) Marrying economic engine to ecological engine and making ESG a part of the organisation’s culture. b) Converting existing IT parks into digital parks
~ Mr K Hari Thigarajan
Covid, many investors try to put their funds in startups but this situation may soon change and the startup ecosystem may not be as hot as it was during the recent times. The trade-off between values and valuation is an important factor, he said. More than mere valuation, the values that companies provide will ultimately matter, he argued. Constant innovation, use of e-commerce and digital technology, conducting SWOT analysis and constant re-strategising are very important in this VUCA world, he said.
He pleaded that companies should
He explained many of the best
not just look at how much profits
practices followed by the founder of
they can make but also on how
Thiagarajar Mills. He talked about
much they can contribute to the
how he brought down the cash-to-
common good of the society.
cash cycle time, even without
Mr
K
Hari
Thigarajan,
BUSINESS MANDATE
fountainhead of excellence
ED,
knowing about such concepts or studying MBA. 55 MAY 2022