Tarun Khanna, Jorge Paulo Lemann Professor at Harvard Business School, and Director of The Lakshmi Mittal and Family South Asia Institute, Harvard University, was in Bengaluru for a fireside chat about his new book. He was joined by Manish Sabharwal, o-founder and Executive Chairman, TeamLease for this conversation. This event was organised by the Harvard Business School India Research Centre and the HBS Club of India, in collaboration with TiE Bangalore and The Mittal Institute. The event was sponsored by the Brigade Group.
In his new book, ‘TRUST – Creating the Foundations of Entrepreneurship in Developing Countries’, Khanna looks at case studies, including the case of contaminated milk in China, the Alibaba success story, a non-profit in Bangladesh, as well as microfinance firms in Mexico, Peru, India and Indonesia. “If one needs to scale up, then one of the components needed is trust” he says. Talking about his previous book, he said: “I study entrepreneurship in developing countries. Close to 6-7 million people are eliminated from the mainstream. My idea was to get them connected to the mainstream. That was my thought behind writing my earlier book ‘Billions of Entrepreneurs’ a decade ago.”
Khanna and Sabharwal discussed many aspects of entrepreneurship, from altering mindsets to working in collaboration with the government, data versus building trust, and a comparison between the role of the state in India and China. The conversation was also opened out to the audience who shared comments and questions focused on scalability of entrepreneurial ventures, credibility of businesses, and the timeline for entrepreneurs in a developing country as compared to those in developed nations.