Before coming on the topic, ‘who do we need more- entrepreneurs or managers?’ let me tell you who exactly are entrepreneurs and managers. Entrepreneurs are the ones who initiate their own business. The risk of all the losses is on the shoulders o f entrepreneurs. They are the ones who assign managers. The main task of managers is to manage. They are assigned tasks which they have to complete in the scheduled time.
Now coming on the topic, undoubtedly, we need more entrepreneurs than managers. The main reason behind this is that past shows that an economy can grow faster only if it has more emphasis on tertiary sector rather than primary and secondary sector. This is because when there are more entrepreneurs in an economy, they generate jobs not only for themselves but for many other people of different classes. This reduces unemployment in an economy. Consequently, the burden on the government for creating more and more jobs for masses reduces and it can concentrate on other issues of importance.
According to the statistics available, in America, the economic giant of today’s world, only about 3% of the labor force is engaged in primary sector activity today, while more than 80% of the workers belong to tertiary sector. Not only this, as per the survey conducted in 2003, in India, while just 25% of the GDP comes from primary sector, 55% of the GDP comes from tertiary sector. This shows, how significant is the tertiary sector for the growth of an economy. Because of the contribution of this tertiary sector only India, today, is moving towards becoming the third largest economy of the world.
Also, if we talk about, particularly, India, today, almost every other student is dragging himself or herself towards management courses
. Whether it’s an MBA college in Delhi, Greater Noida
or any other part of the country, there is a huge rush of students towards management. But there is one thing to be always kept in mind and that is, managers and entrepreneurs are interdependent on each other. Thus, with this huge rush of MBAs, there is certainly a need for more entrepreneurs too.
Also, on a broad basis, there is generally a tendency of Indians o f being averse to taking risks. Perhaps, due to this aversion, not many Indians try for their own businesses and rather prefer comfortable jobs of 6 to 9. However, this attitude restricts them of their progress and restricts them of showing their complete capability. Thus, leaving this attitude behind, more and more Indians should go for entrepreneurship as it is a much faster way of success of an individual and economy as a whole.
To conclude, there is no doubt in the fact that certainly, we need more entrepreneurs rather than managers. The main reason for this is that an economy can grow faster only if there is more emphasis on tertiary sector rather than primary or secondary sector as seen in the past. Also, we must not forget that mangers and entrepreneurs are interdependent on each other and to meet the huge rush of MBAs we need more entrepreneurs in India.