‘SMEs should focus on future markets to expand’

Moot discusses innovation in local entrepreneurial system.

KARACHI: It is imperative for small and medium size enterprises (SME) wanting to grow into large-scale corporations to position themselves to the needs of the future markets while retaining and growing their current market share, said Dr Ishrat Husain, the dean and director of the Institute of Business Administration and the former governor of State Bank of Pakistan.

He was addressing a conference on Corporate Innovation and Entrepreneurship (CCIE 2010) themed “Fostering innovation in the Pakistani entrepreneurial eco-system” here on Saturday, organized by the MIT Enterprise Forum of Pakistan (MITEFP) in collaboration with The Organization of Pakistani Entrepreneurs of North America and TerraBiz Pakistan.

Emphasising the need for visionary and dynamic leadership that is able to cope with the challenges of growth, Husain said that it was incorrect to associate business success with a conservative approach, avoidance of risk and reliance on proven ways of doing things. Rather, innovation and incremental changes to meet future challenges was the key to business success, he stated.

Published in The Express Tribune, December 12^th, 2010.