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Published in:

Volume 8 Issue 2
February-2021
eISSN: 2349-5162

Unique Identifier

JETIR2102197

Page Number

1644-1652

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Title

Strategizing the sustained growth by micro entrepreneurs - An empirical study of wellness entrepreneurs in Mysore City.

ISSN

2349-5162

Cite This Article

"Strategizing the sustained growth by micro entrepreneurs - An empirical study of wellness entrepreneurs in Mysore City.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 2, page no.1644-1652, February-2021, Available :http://www.jetir.org/papers/JETIR2102197.pdf

Abstract

Micro, Small and medium scale enterprises play a major role in generating employment, embarking innovations, mobilising capital, accelerating constant change in the economy and developing the nation. Majority of the manufacturing and services sectors units are dominated by the MSMEs which act as an auxiliary support process of economic growth. The study is focused on the importance and implementation of strategic entrepreneurship by Micro Entrepreneurs while succeeding their business and contributing to sustainability of the wellness industry. Corporate strategic management practices guarantee the returns and stake holder satisfaction. Adoption of these practices in micro entrepreneurship would also ensure the same. The study highlights the various strategic management practices to be adopted by the wellness entrepreneurs for the survival and success of the business and contributing to the sustainability of the industry. Twenty major strategic practices were identified through literature review and studied perceptions from the players of Wellness Industry. This study provided insight on the benefits from applying of corporate strategic practices in wellness industry. The study was conducted in the Mysore city and the respondents were micro entrepreneurs of wellness industry that includes yoga trainers, dance form of exercises, psychological counsellors, rejuvenation centres, spiritual centres, AYUSH centres, alternative medicine practioners and other wellness oriented units. Researchers conducted survey by administering pilot tested structured questionnaire to 77 micro entrepreneurs of wellness industry. The findings revealed the vitality of strategic management practices in the success and growth of micro enterprise. Majority respondents highlighted the drawbacks of being micro entrepreneurs due to lack of investment, huge competition, low entry barriers, poor management practices, entrepreneurial knowledge and apathy of government agencies. find difficult to plan big and in corporate style.

Key Words

Key Words: - Micro entrepreneurship, Strategic management practices, wellness services and Wellness Industry.

Cite This Article

"Strategizing the sustained growth by micro entrepreneurs - An empirical study of wellness entrepreneurs in Mysore City.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 2, page no. pp1644-1652, February-2021, Available at : http://www.jetir.org/papers/JETIR2102197.pdf

Publication Details

Published Paper ID: JETIR2102197
Registration ID: 306308
Published In: Volume 8 | Issue 2 | Year February-2021
DOI (Digital Object Identifier):
Page No: 1644-1652
ISSN Number: 2349-5162

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Cite This Article

"Strategizing the sustained growth by micro entrepreneurs - An empirical study of wellness entrepreneurs in Mysore City.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 2, page no. pp1644-1652, February-2021, Available at : http://www.jetir.org/papers/JETIR2102197.pdf




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