Article Writing Competition- Asthra 2014

The Paper “Entrepreneurial Spirit and Socio-Economic Development” submitted by Nancy Sharma of PGDM 2012-14 to “Sparsh” Souvenir Article Writing Competition of Amrita School of Business, Kochi, organized as a part of National Level Business Fest 'Asthra 2014' during January 24 & 25, 2014 has won the First Place in the competition. The paper speaks about the ‘Entrepreneurs Spirit’ which was added to factors of production by J. B. Say. The author opines that absence of which may be a reason for underdeveloped societies. Further, the author says that entrepreneurial spirit and economic developments are highly correlated, which in turn related to social well-being. It is both the cause and effect of socio-economic activities of a nation. For a developing country like India, entrepreneurial spirit is the key resource and a critical element in socioeconomic development. Despite its abundance, especially in rural, we are developing with snail’s pace. The missing link here is the ‘skill’! It is our responsibility to nurture, implement and preserve entrepreneurial spirit and build native capabilities for the very purpose of global development. All we need to do is to create conducive environment and direct the energy in right direction.