Encountering the difficulties of Entrepreneurship: Lesson from Ramayana

Abstract

Scholars could not come to unanimity on definition of entrepreneurship but agreement exist that an entrepreneur should be a natural leader having thorough understanding of the business and visualize the changes and take calculated risk. Skills and abilities required for entrepreneurship are so great and numerous that it is difficult to find persons having entrepreneurship trailts. Most of the entrepreneurs either fail at early stages or unable to expand the business beyond a small shop. A successful entrepreneur in addition to being a visionary and possessing qualities like innovativeness, resilience, perseverance etc. should have the honest belief in self and unflinching faith in 'Karma' like 'Rama of Ramayana' so that he can face the challenges and pursue the goal with limited resources.

Religious philosophy helps the people in developing traits useful in life. Holy books like the Ramayana not just deals with spirituality but management principles hidden in it help an individual to develop entrepreneurship skills and role effectiveness. Primarily, Ramayana is a story and pursuit of the Ramayana does not automatically get translated into entrepreneurship qualities as background was quite different than today's business scenario. However, Rama, a role-model of Gyan-yog and Karm-yog, can be compared with an entrepreneur who started from scraps like entrepreneur but by linking of his goals with social values and following highest standard of ethics, he could make strategic alliances with Sugriva and Vibheeshana and created Ram & Company and inducted less skilled, less equipped but well dedicated Vanar in army and fought against Ravana (the greatest demon) having well equipped army, to make the earth free from devils and liberate Sita and save the dignity of women (social cause). Principles hidden in the Ramayana show holistic vision and, if followed, by an entrepreneur will help him to establish a successful business model.
This article is a modest attempt of exploring attributes of Ram and principles/ methodology adopted by him in his fight against Ravana understood through interpretation of stanzas/ verses mentioned in Ramcharit Manas and correlate them with formation of strategy, goal orientation, strategic alliance, change management etc. ideally required by entrepreneurs to establish and grow his business in modern day competitive scenario.