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Ernst & Young to study entrepreneur awards programme 

HUMA SIDDIQUI  
As part of its commitment to advancing entrepreneurship globally, consultant firm Ernst & Young is conducting research into the Entrepreneur of the Year programme. The Entrepreneur of the Year programme seeks to provide a platform to budding entrepreneurs worldwide. Ernst & Young has roped in the American Kauffman Center for Entrepreneurial Leadership to help them with the research project. India has been part of the Entrepreneur of the Year programme since 1999 and it is one of the 15 countries participating in the research programme. Ernst & Young India is conducting the India part of the research, again with the Kauffman Center's help.

"The purpose of the research is to discover how outstanding entrepreneurs and their companies are able to excel in an increasingly crowded and competitive global environment," says Mr V V Ranganathan, director, Ernst & Young India. "The objective of the survey is to produce a substantial information base for entrepreneurs, consultants, policy makers and educators worldwide. This survey will give perspectives on the entrepreneurs,'' adds Mr Ranganathan.

Basically, Kauffman will collect information from all over the world to give an insight into today's breed of entrepreneurs.

"What we in India are looking for are people who are creating the tide," says Mr Ranganathan. The nomination forms are both pertinent and participative, and attempts are made at creating awareness amongst those who contribute to the country, he explains. "In the Indian context, entrepreneurship is recognised as a factor of production. There is no dearth of entrepreneurial skills in this country and their role in the country's economy is very critical." The India part of the survey entails interviews with all of last year's Entrepreneurs of the Year, both the finalists and semi-finalists. The survey has six sections: q Company background:

Information about the business with questions ranging from when the company was founded, the industry sector, whether the company's shares are public traded, financial performance, etc.

q Strategic content: Pertinent questions regarding overall mission, growth and operational strategies, products/services, e-commerce, employee compensations, etc.

  • Strategic process: The strategic planning process.Internationalisation: Aspects like total export sales, invested capital and employees located overseas.
  • Entrepreneurial posture: Questions related to management philosophy and management approach.
  • Environment: The nature of the company's competition.

    According to Mr Ranganathan, "There is no ideal profile for successful entrepreneurs. They can be gregarious individuals who are simply daring and intuitive. The characteristics that set them apart as successful entrepreneurs are many." "Plans are afoot to create a separate category for women entrepreneurs in the country," says Mr Ranganathan. However, there is another school that feels that women may not like to be put into a special category.

    The first step in the programme is the nomination process. A nominee must be an owner/manager primarily responsible for the recent performance of a company that is at least two years old. Once the applications come in, they are scrutinised by very senior business journalists who help in substantiating the nominations based on their understanding of Indian business, explains Mr Ranganathan. Winners are selected from amongst all nominations by a distinguished panel of independent judges.

    Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.

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