CASE STUDY 8

VENTURE EAST: TWO LINES OF SIGHT, SCANNING NEW VENTURES

Among the factors of production, land was the predominant one in the agricultural economy, before the era of industrial revolution. Industrial revolution that started with the discovery of steam engine and the capability of mass production shifted emphasis to ‘capital’ as the predominant factor of production among land, labour, and capital. The management revolution that started with Taylor’s principles of management added ‘management’ as the fourth factor of production. Knowledge revolution of 1990s with IT brought ‘knowledge’ to the fore as the fifth factor of production. A stage has come, when any person who has a brilliant business idea can start a venture and flourish with ...

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