Case Study – The Entrepreneurial Mindset for Unleashing Rural Economies

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Pallavi Kapooria, Saurabh Singh, Jia Khatwani

Abstract

Unleashing rural markets through entrepreneurial mindset involves identifying and leveraging opportunities that not only drive business growth but also contribute positively to the well-being of rural communities and the environment. Entrepreneurial mindset can facilitate to create a win-win situation where companies prosper, consumers benefit, and society as a whole is improved. has become one of the differentiators in the success of any organisation. It’s not only about being responsible to the needs of the consumers but also of all the stakeholders including the producers. In rural context, identifying the untapped potential in terms of supply end, the entrepreneurs can penetrate into the rural markets and explore the avenues to connect the local population to commercial platforms. Strategizing an appropriate marketing mix for these products will leverage a win-win situation for all. The present case intends to highlight how public-private collaboration can open up avenues for unleashing the rural economies and may have an enormous impact on the economic and social life of the communities concerned. The case strongly recommends the role of a catalyst, who may initiate or contribute such a movement which spurs into regional development. An apt catalyst may be the natives of such rural areas who are now residing in urban set ups and wish to payback to their ancestral places. It highlights the commendable initiative by a premium B-School of the country to invigorate the rural population and to enable the local people to be proud of their localities. It talks about how the B-School Director, who is a native of a small village of the state of Uttar Pradesh, has been a true catalyst for the upliftment of his village and has partnered with the State government to boost the ODOP scheme and induce a movement for exploring and developing products which can be a symbol of locality, of which residents can be proud, and which can be competitive on the national and global levels. The B-School has also initiated avenues for online marketing and state-wide exhibition platforms for these products to maximize growth and profit. Local rural residents will surely be stimulated by a clear, feasible goal and driven by a vision of a bright future which lies ahead.

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How to Cite
Pallavi Kapooria, Saurabh Singh, Jia Khatwani. (2023). Case Study – The Entrepreneurial Mindset for Unleashing Rural Economies . European Economic Letters (EEL), 13(4), 1053–1059. https://doi.org/10.52783/eel.v13i4.702
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