Role of B-Schools in Nurturing and Grooming of Future Entrepreneurs
Conference proceedings, 4th National Conference, Al-Barkaat Institute of Management Studies, Aligarh, 13th March, 2010.
12 Pages Posted: 28 Apr 2017
Date Written: April 27, 2017
Entrepreneurship is a multi-faceted phenomenon. In simple words, we define an entrepreneur as “an individual who establishes and manages a business for profit and growth.” Entrepreneurs do entrepreneurship. Entrepreneurship is more than the mere creation of business. It is a dynamic process of vision, change, and creation. It requires an application of energy and passion towards the creation and implementation of new ideas and creative solutions.
During liberalization, which started in India in 1991, India exerted greater effort to promote and nurture entrepreneurship. Attempts at various levels have taken place to directly or indirectly promote entrepreneurship. During the recent past there has been a growing debate about how well educational systems specially B-schools prepare young management graduates for Entrepreneurship. In present scenario this debate becomes large. Should B-Schools lay special emphasis on entrepreneur education in their curriculum? If yes than what is scope of this education and what opportunity will raises?
Education is an important factor in determining the entrepreneurial orientation in individuals. Formal education is positively correlated with entrepreneurship. It has been reported that entrepreneurs of healthy units, on an average, had a higher level of education compared to those who own sick units. Education can help in increasing knowledge base, by identifying opportunities, and by pointing out ways to overcome barriers imposed by ones environment. Hence, education and training can have definite role in enhancing entrepreneurship in the context of a developing country by enlarging the pool of entrepreneurs in society.
In order to catch up with the pace of developed countries, India needs many entrepreneurs willing to make their businesses bigger. If the management graduates with high entrepreneurial potentials get proper training, they will have the best prospects for becoming “real” entrepreneurs. Courses in entrepreneurship in B-schools should cover the legal and managerial aspects of entrepreneurship along with the motivational aspect since it creates an aspiration and improves confidence levels.
Challenges for Entrepreneurship education in India :
(i) Cultural barriers due to conservative mindset of Indian society (ii) Difficulties towards Start-ups of new business (iii) Incomplete Entrepreneurship Education
The Entrepreneurship education in the B-schools should, therefore, satisfy the need for entrepreneurship by: selecting motivating training supporting. Unfortunately, the present Entrepreneurship education in India just concentrates on related courses. Moreover, the so called entrepreneurship courses are similar to the general business courses. But general business management education has no significant influence on entrepreneurial propensity. The findings of a survey on business owners in India suggest that management education is not an important driver of entrepreneurial attitudes. There is a demand for education programs specifically designed to expand students’ knowledge and experience in entrepreneurship. The contents and teaching methods have to be differentiated between entrepreneurship and traditional business courses.
This paper attempts to find out the scope and role of B-schools in shaping and nurturing of future Entrepreneurs in India. It also discusses whether the current curriculum taught in B-schools meets the requirements of budding Entrepreneurs. Moreover, this paper discusses the steps that should be taken by B-schools towards Entrepreneurship education.
Keywords: Innovation; moderated risk-taking; desire for independence, personal value orientation, Cultural barriers, incubation assistance
JEL Classification: M13, L26
Suggested Citation: Suggested Citation