Over 600 MBA, BBA students and their faculties from the School of Management at SRM Institute of Science and Technology (SRMIST), Kattankulathur participated in the fifth edition of Dr. Paarivendhar Foundation Lecture Series that was held virtually.
The chief guest for the event was Mr. P. N. Vasudevan, Managing Director & CEO of Equitas Small Finance Bank Limited who enlightened students on 'Entrepreneurship with a social face'.
In his welcome address, Vice Chancellor i/c of SRMIST, Dr. C. Muthamizhchelvan said, "These lectures pave the way for debating and deep thinking. Conceptualized by our Founder Chancellor, Dr. T. R. Paarivendhar, who believes that such lectures are organised so that the greater knowledge is shared with the general audience."
"Everyone has the right to dream when it comes to business. To be successful you don't need great or unique ideas. You can copy but do it in an efficient and different manner," said P. N Vasudevan.
Addressing SRMIST students he said, "A few years back, only people born from industrial or business houses could think about starting a business because they had the financial situation to do so. But now this is not the situation as we have several environmental and financial support to back business and start-ups."
He urged students to have a dream that will have some contribution towards the society. "There are two components to business - entrepreneurship and social. Desire, dream, and value to make your business a success. First, have a clarity of purpose, honesty of intention and integrity of action to be successful."
He elaborated on the key features to become a success entrepreneur which is - passionate about the idea, ruthless on execution, ability to stretch capital, hunger for excellence and impatient on delivery.
On the social phase of entrepreneurship, he elaborated on the concept of social entrepreneurs (which is not new to India). “Many businesses have Corporate Social Responsibility (CSR) activities. Our government is also emphasizing on companies spending about 2% of their annual profit towards CSR programs.”
On taking up entrepreneurship as first-time employment he elaborated, "Getting into employment after your graduation does not mean it’s a bad thing. However, trying your hand in business is also hard, tricky and has its own risk. But opportunity raises itself in this society."
On being socially responsible entrepreneurs he said, "All of you are going to make money in life at some point or other. As you step-up in your career, it is important to think about people who are not lucky as we are."
In his concluding statement, he said, “There is no shame in making money. However, you need to keep looking at what you can do in your society."
Also present on the occasion were SRMIST's Dean (School of Management) Dr. V M Ponniah, Advisor to Chancellor Dr. B Raghavan, Deputy Dean (S&H) Dr. Sridhar Krishnaswamy, Faculty of SOM Dr. Nisha Ashokan, Dr. M.G. Bhaskar, faculties, and students.