The Economic survey in 2019-20 using World Bank’s data on entrepreneurship stated that India ranks third in the number of new firms created. However, India ranks significantly lower in terms of intensity when compared with countries like UK and US. Between 2006 and 2016, the mean number of new firms registered per year per 1000 workers was 0.10 whereas it…
Emotional intelligence, in a nutshell, is the skill of detecting and understanding emotions in others as well as oneself. Emotional intelligent people are generally good at managing their own emotions and helping others manage theirs. Emotionally intelligent people are good at putting themselves in someone else’s shoes and seeing challenges from different perspectives, which can also help them solve problems…
Even though entrepreneurial skills are not taught from the early stages of education, entrepreneurship is growing as the choice of the youth and people belonging to the age group 35-45 years. While being an entrepreneur seems exciting and easy in one’s head, this article tells you that it is a lot more than that. Entrepreneurship programmes, curricular or non-curricular, make…
Longstanding family conflict can bring a family business to its knees. It saps energy and happiness and holds back the business from functioning optimally. The first step in resolving longstanding conflict is recognizing that the consequences of avoiding an issue are worse than the emotional discomfort of discussing it. Let us look at an example of a family that succeeded…
Female entrepreneurs are continuously making their space in the world of business by accepting new challenges each day and are achieving great success. As per the non-profit corporation Catalyst, females hold at most 6 percent of CEO posts in the S&P 500. However, that percentage bounces considerably when we look at eCommerce, as Amazon data firm Jungle Scout reports that 32 percent of the sellers are females.…
Family businesses are not only “the backbone of the Indian economy,” but also tend to perform better than nonfamily companies during economic crises. But what happens when the founders decide to retire and hand over the reins to a new generation? For many family businesses, that involves one of the most complex processes and generates the most challenges. The following…
Starting a business is a great achievement for all entrepreneurs, but sustaining one is the bigger challenge. There are a number of standard challenges each business faces, regardless of their size. These comprise of things like employing the right people, developing a client base, building a brand, etc. However, there are a few which are strictly small and medium sized business…
To thrive, all businesses require a certain range of skills. There will be many different responsibilities upon you if you are an owner of a small business. You will realize that eventually you are better and worse at some roles than others. At some point in time in your business, these skills must be refurbished and improved. It is quite…
When negotiation conditions are unambiguous and clear, recent research discloses some gender differences in the possibilities of initiating a negotiation. For instance, one might not expect men to be more probable than women to start a negotiation for a supplier agreement or a customer contract. However, when the aptness of negotiating is not so clear—as is mostly the case for negotiating visibility,…
Combining the PoSH Act with a company’s framework and rules for abidance is only half of the work done to produce a more protected workplace for females. Taking actions to ensure and implement women’s safety in the workplace is the real and constructive solution. Furnishing infrastructural amenities such as upgraded surveillance for security, female cab drivers, late-night shuttle service, are…