Entrepreneurship in a globalising economy: Discussion

Abstract

Globalisation of economies is generally attributed to the policies of economic liberalisation, deregulation and privatisation adopted\ by governments in various countries. However, the Information Technology revolution and the global business opportunities created by innovative entrepreneurs using the capabilities of the new technology, have also had an important role to play. Further, the relationship between globalisation and new technology-based entrepreneurship is mutual. In India too, several aspects of entrepreneurial activity have been influenced by globalisation effecting changes in the nature of businesses, the type and level of technology, the profile of the Indian entrepreneur, sources of finance, location and nature of customers, partners and suppliers, the legal structure, organisation and HR practices, operational and growth strategies, and so on. In the context of these wide-ranging changes, the IIMB Management Review Round Table on Entrepreneurship in a Globalising Economy debated the issues relating to venture creation in a globalising economy. The issues discussed included the challenges of entrepreneurship education, the developments in research in the field, the issues confronting the new economy entrepreneur, the complexities of technology transfer, entrepreneurial finance — particularly the considerations of funding small enterprises, and the relationship of entrepreneurs with venture capitalists and angel investors.