India is one of the fastest growing economies in the
world which has highest demographic dividend (population of youths are
maximum). In this context, if, we are not focusing on entrepreneurial
activities then generating employment and contribution in rapid economic growth
will not be justified. In this way, every stakeholders in the Indian economic
system need to think upon strategies and ways which can stimulate a solid
growth of entrepreneurial ecosystem.
Schumpeter who is popular author in the field of
entrepreneurship placed a strong emphasis on the function of the entrepreneur
as an innovator who introduces new products or new production techniques to
bring about change in an economy. According to Schumpeterian theory, an
entrepreneur can cause significant disruptions in an economy (Entrepreneurship
- Econlib, 2018).
Imperatives for Management Students :
Management education is getting prominence in Indian
education system due to huge demand from Industry. Both undergraduates and Post
graduates programs like BBAs, MBAs are getting recognition in terms of
employment opportunities in various sectors of the Indian economy. Even, an MBA
program is widely popular for entrepreneurial orientation among the students. In
this way, as per my observation and related analysis, the focus of curriculum
of such management courses must be linked towards entrepreneurship development.
Even, there must be a proper cell which can encourage students to get proper
support in starting their venture. Attending the sessions related to startups
and their success story can be a motivating factor for management graduates who
wish to become entrepreneur. Students need to be vigilant in terms of getting
such information, knowledge and support system if they aspire to become
successful owner of any entrepreneurial venture.
Ø
Note:
Thoughts are personal to the author which is purely academic.
Bibliography:
Ø Entrepreneurship
- Econlib. (2018, September 6). Econlib. https://www.econlib.org/library/Enc/Entrepreneurship.html#:~:text=Schumpeter%20stressed%20the%20role%20of,disruptive%20force%20in%20an%20economy.
Ø
Veena. (2024, June 14). What is entrepreneurship?
| Stanford Online. Stanford Online. https://online.stanford.edu/what-is-entrepreneurship
