Entrepreneurship and corporate governance: Holding the helm steady

economictimes.indiatimes.com:

entrepreneurship goes beyond mere innovation. At its core lie two fundamental values: honesty and responsibility. These principles not only govern the dynamic between entrepreneurs and their investors but also serve as a guiding force behind successful ventures.

Just like in any strained relationship, the delicate balance between founders and investors can teeter due to a deficiency in either of these values. The meteoric rise in the number of startups, with nearly 100,000 being recognized as of July 2023, highlights the significance of corporate governance within the entrepreneurial ecosystem. While government initiatives and policies have certainly provided a structure, these are only as effective as the stakeholders who implement them.

The real test of entrepreneurship, infused with the principles of honesty and responsibility, manifests in the day-to-day operations and decisions made by both entrepreneurs and their backers. Over the past year, the Indian entrepreneurial landscape has been rife with tales of inflated revenues, fund misappropriations, and questionable decisions. While the investor community has very casually let the founders take the fall for everything, is it really that simple? Instead of falling into the blame game, it's vital to diagnose the root causes leading to these governance mishaps.Navigating the Challenging Waters of EntrepreneurshipEvery entrepreneur embarks on a journey filled with challenges and pressures.