Abstract:
With the widening economic horizons, beginning from 1991 and open since 2005, there exist innumerable opportunities for entrepreneurship. The entrepreneurship is the process of wealth creation for the prosperity of the owners, growth opportunities for related parties and availability of new products or services for the consumers. In today’s world where quality, mass production, patents, innovative products and services, transnational corporations are the buzz words; the strategic handling of the enterprise has become a necessity. The through SWOT [Strength, Weakness, Opportunities and Threats Analysis] analysis of the business environment specially in context of open world economy, the ways of adaptability of value chain analysis in the business structure, developing lean and suitable organization structure with interwoven adjustability and necessity of innovative handling of the marketing in a strategic manner is the need of the hour. There is no dearth of entrepreneurship talent in India. The requirement is of marching in the right direction for survival, growth and overall development. There is a need to nurture the very beginning as well as the growth in a strategic manner to succeed in value creation for the enterprise. Also the tool of strategic management can be used for a vibrant turnover.
