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Only 25pc entrepreneurs have defined second line of management: ASCENT-EY

New Delhi, Nov 27 (UNI) Only 25 per cent entrepreneurs have a defined second line of management, according to an ASCENT-EY report titled ‘How ready are entrepreneurs for the journey of scalable growth?’
The report was released at the first experiential learning conclave, themed ‘Growth, Disruption, Entrepreneur’, hosted by ASCENT, a peer-to-peer platform for entrepreneurs.
The report was unveiled by Harsh Mariwala, Chairman, Marico Ltd. and Founder, ASCENT, and Uday Kotak, Executive Vice Chairman and Managing Director, Kotak Mahindra Bank and Pinakiranjan Mishra, Partner and National Leader, Retail and Consumer Products, EY.
Commenting on the report, Mr Mariwala said, “We are proud to partner with EY and hope that entrepreneurs across India, as well as globally can gain valuable insights from the report. 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 aims to understand entrepreneurs’ readiness for scalable growth and the challenges they face in doing so across seven parameters – customer, leadership, people, operations, finance and transactions, risk management, and technology.
Pinakiranjan Mishra, Partner and National Leader, Retail and Consumer Products, EY added, “Entrepreneurs need to understand that achieving growth is not enough; it also needs to be scalable for long term sustainability and success. Amongst the seven drivers of the growth maturity model, they seem to be doing quite well in understanding customers and managing operations. Entrepreneurs will also need to focus on the other five drivers in order to be successful.”
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