SME Times is powered by   
Search News
Just in:   • Facebook launches 'bot makeover contest' for SMEs  • Serial entrepreneur acquires Canada-based Pulsus  • India needs over $200 bn of investment in renewable infra  • Moody's upgrade: Thumbs up to reforms  • Equity indices close higher, healthcare stocks boost sentiments 
Last updated: 28 Nov, 2016  

Industry.9.4.Thmb.jpg 'Entrepreneurs with second line of management get more revenue'

India Industry SME Flag
   Top Stories
» Convey GST benefits to consumers to boost domestic demand: Govt
» Use alternative dispute resolution mechanism: Commerce Minister
» Logistics sector gets infrastructure status
» NSE's IISL launches SME Emerge index
» GST still have some teething troubles: EPCES
SME Times News Bureau | 28 Nov, 2016
Only 25 percent entrepreneurs, who have set up a strong second line of management, have 3.5 times higher average revenue size compared to companies who do not, said a report released on Saturday.

The report, prepared by ASCENT-EY, aimed at understanding entrepreneurs' readiness for scalable growth, and also tried to find out the challenges they face in doing so across seven parameters - customer, leadership, people, operations, finance and transactions, risk management and technology.

The report, titled "How ready are entrepreneurs for the journey of scalable growth?", found that people who invest in these seven drivers see a higher financial success as compared to others.

Commenting on the report, ASCENT's founder and Marico Ltd's Chairman Harsh Mariwala said: "For me, the biggest and most interesting take away is the fact that investment in different processes which support customer centricity, leadership planning and operational efficiency, has a multiplier effect on the business and provides disproportionately higher returns to the entrepreneur."

The report also indicated that companies who have a total rewards mechanism have 15 percent higher employee productivity when compared to companies who do not have total rewards.

Similarly, companies who used technology to drive growth have registered three times higher average revenue size compared to companies that do not use technology, the report pointed out.

"Entrepreneurs need to understand that achieving growth is not enough; it also needs to be scalable for long term sustainability and success," said Pinakiranjan Mishra, Partner and National Leader - Retail and Consumer Products, EY.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 21 Nov, 2017
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» GST: Course correction(14)
» Starting an import export business: Basic guide for beginners(13)
» GST Council removes 178 items from 28% slab, only 50 left(6)
» SC asks Unitech to deposit Rs 750 cr by December end(1)
» Economic growth not possible without manufacturing: NITI Aayog CEO(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter