An Entrepreneur is interested to create businesses, and usually thinks he has a good gut feel. Many entrepreneurs I know spurn formal business management practices, like creating a budget or even a business plan. ‘We’ll get to solve it when it happens’ is a normal strategy. They dislike the idea of business plans as too restricting.

Numerous references were made that one way to create entrepreneurship is holding business plans competition. This is Read the rest of this entry »

Warren Buffet on his decision on giving the bulk of his wealth to philanthrophy instead of to his children- “A Rich verson should leave his kids enough to do anything but not enough to do nothing.”

A recent article in Fortune Magazine “The Imagination Economy” contends that the standard of living in the US ( if you look at US as a big company, and what applies to countries applies to companies on a smaller scale) will rise but the value creator will not be technology, but ingenuity and innovation. To a certain extent, I think so, but that does not mean focusing on science and technology is fighting the last war. I always thought that creativity and imagination is important but should be grounded on proper foundation of knowledge proper grounding of logic and theory.