I have been looking for a job since last 6 months, no success yet. HR Managers are not entertaining FRESHERS in their company. Aren't these lines familiar?
Oh yes they are since 2008, when every day a new software or BPO company were opening their offices in India and every pass out from engineering, MBA college would land up with a JOB.
Today the economics of demand and supply have upset the equation; job creation is almost constant in our country but the labor supply is creating new records every year. Thanks to the hundreds of new engineering colleges mushrooming every day.
I simply fail to understand why the above situation is negative for the market? Why is labor supply a negative for the economy?
I see the prospective in a very different way, labor abundance means they would be available cheap which means the cost of production would be less and the margins would be high. To summarize the market is very favorable for business.
Well I know you have already guessed where I am coming to, yes Entrepreneurship!
If am a FRESHER and trying entrepreneurship, I have access to technocrats, management guys. In short the abundant labor supply of the land and a vast flourishing economy of the country would mean a perfect recipe for my today’s start-up and tomorrow’s success story.
The Big question
For an idea to flourish and succeed, above questions needs to be answered even before you start.
I will try to answer all of the above questions and present case studies in my subsequent articles for you to run the enterprising path.
Stay tuned for more GYAN….
Have questions, don't forget to comment.