Saturday, November 1, 2008

Encouraging Entrepreneurship

While looking for an Asian Sports Company for my Asian Business Systems paper here at AIM, Manila I chanced upon this website It's not surprising to see TATA at the forefront of such a contest. Apparently it's the first peoples choice type of contest. Brings to my mind the fact that today everybody wants to participate. Even if you look at the type of shows that people enjoy, it's mainly vicarious enjoyment through reality shows and game shows wherein people have to send in their vote. People's choice matters. Although I do think that currently since we're at the start of this participative trend, there might be a herd mentality. Very soon that should be replaced with informative participation and that is when companies are going to need to be more synchronous with their primary stakeholders i.e. their consumers.
Coming back to this website, some of these business ideas are really great and the internet allows these to be exhibited to a large mass. I honestly feel they should include courses in business schools on how to juice out as much as you can through Web 2.0 offerings.
Another thing that came to mind was a question that are more people looking to set up their own ventures in the face of lots of standardization and boredom with regular jobs? Have they realized that maximum value will come from occupying niche long tails?

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