Gone are the days when entrepreneurship was considered an inherited quality or confined to certain communities or groups. Modern-day thinking and facilities have ensured that entrepreneurs can be created by proper training and orientation. But our higher educational institutes are yet to focus on this point and come up with full-fledged and innovative courses in entrepreneurship. However, of late, entrepreneurship is gradually making way into academics with reputed educational institutes showing interest in launching innovative courses with a window into the vast potential in the field.
For instance, a new full-fledged 18-month Post-Graduate Programme in Entrepreneurship (PGPE) launched by the KLES Institute of Management Studies and Research (IMSR), Hubli, is expected to help future entrepreneurs acquire the necessary skills.
The course aims at developing an entrepreneurial attitude among students. The objective is to create persons who will create jobs rather than hunt for jobs, said Pratap B. Roodagi, Director, KLES IMSR.
Success rate
Though India had produced acclaimed entrepreneurs over the years, the present condition is not encouraging. Recent surveys suggest that the success rate of second generation entrepreneurs was hardly 12-15 per cent. Even in engineering entrepreneurship, which is a thriving field across the globe, the growth rate remains at two-three per cent.
The reason is lack of orientation, training and inputs which are required under the changes circumstances. If we fail to take a serious note of this trend and initiate corrective measures, it would be a great loss for our economy and the society as well, said Prof. Roodagi.
“We have subjects on entrepreneurial development in courses like BBA and MBA, but they won’t serve the purpose as students learn them only for the sake of passing examinations. Hence, the number of these graduates venturing to tap their potential in the field of entrepreneurship has remained minimal,” he said.
About the PGPE, Mr. Roodagi said this course was exclusively for those having a strong determination to emerge as entrepreneurs but are in need of skills and knowledge to give shape to their ideas. Young graduates often have their own creative ideas and plans, but they lack direction and guidance to convert their ideas into a successful career.
This lowers their confidence level and motivation to work independently. In such a situation, this new course offers them an opportunity to plan their own business ventures confidently. Thus, the main objective behind starting this course is to offer opportunities to graduates to be entrepreneurs of tomorrow, he said.
For whom?
Admission for the course is open for graduates from any discipline. But it will be of more help to B.Com, BBM and engineering graduates. Moreover, it is also well suited for graduates who belong to a business family and wish to manage their family business and expand it further, and for graduates who wish to work in any organisation for less than three years and then start their own enterprise.
The course will have three semesters each of six months. The first two semesters are to teach different subjects relevant to entrepreneurship development in an experiential learning atmosphere. Here the students will also have the opportunity for detailed interaction with practitioners.
In the third semester graduates will have the option to choose an area of specialisation of their choice along with which they can test their idea in an incubation centre, Prof. Roodagi said.
Specialisation
The specialisation tracks of the course are Small Business, Family Business, Entrepreneurial Manager, and Micro Business. The Small Business Track will focus on starting a small business venture. Here, the learners will be trained to give shape to their creative business ideas which can be success stories of tomorrow.
Entrepreneurial Manager Track will emphasise on building decision-making skills among graduates. They will be trained to be independent and ready to take charge and exhibit corporate responsibility. This specialisation is for those graduates who wish to work with an organisation for one-two years to get the required experience to start their own venture.
Family Business Track will provide necessary inputs to graduates who belong to business families. They will be working on ways of improving the performance of the family business and identify new areas for expansion and growth.
Micro Business Track focuses on converting small and innovative business ideas into successful businesses by operating from one’s own home. Once the business picks up, they can plan for full-scale operations for future growth.
