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Pawan Goenka's advice to gen-next: Becoming an entrepreneur is no longer a choice

The Mahindra & Mahindra MD said that an entrepreneurial mindset is a must if you want to succeed.

, ET Bureau|
Updated: Sep 11, 2017, 09.43 AM IST
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"Five years ago, who would have imagined that driverless cars from Google and Apple would pose a challenge to traditional OEMs (original equipment manufacturers) like Toyota, General Motors and Ford."
"Five years ago, who would have imagined that driverless cars from Google and Apple would pose a challenge to traditional OEMs (original equipment manufacturers) like Toyota, General Motors and Ford."
Sometime back, Mahindra & Mahindra MD Pawan Goenka addressed the students of IIT Madras in his capacity as its chairman of the board of governors. The occasion was the institute's 54th convocation ceremony. He shared a very important insight with the students: "Becoming an entrepreneur is no longer a choice." No matter what one decided to do, to succeed he or she will need to build an entrepreneurial mindset.

"Every five-year time frame reveals drastic changes in the business landscape. Startups and non-traditional competition are aggressively broadening the landscape and redefining the game. This market dynamic and evolving customer needs are driving every player to push the boundaries by adopting next gen technology, disrupting business models and thinking like an entrepreneur," Goenka said. He used examples from his own industry, the automotive sector to drive home the point.

"Five years ago, who would have imagined that driverless cars from Google and Apple would pose a challenge to traditional OEMs (original equipment manufacturers) like Toyota, General Motors and Ford. Five years ago, who would have imagined that a startup like Tesla, founded as late as 2003, specialising only in electric vehicles, could reach a market capitalisation of $51 billion, matching or even exceeding 100-year old companies like General Motors and Ford," he added.
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