Listen to this Businessgyan
If you are a final year post-graduate student of business administration in Bangalore, you have two options once you complete your course. Either you tread the tried and tested route of an MNC job or start your own business.
And if it is the latter option that appeals to you more, then become a member of the Businessgyan circuit. This is a unique network for potential entrepreneurs conceived by Businessgyan - a handbook for businessmen in Bangalore. This move is aimed at encouraging a larger percentage of MBA students to strike out on their own. It has been established that only 5 per cent of MBA students venture into entrepreneurship.
The decision also stemmed from the results of a recent survey brought out by IIM, Bangalore. According to a research project of the Global Entrepreneurship Monitor (GEM) of 2001, of which the IIM is a partner, India has reached a critical mass as far as necessity-based entrepreneurship is concerned. The focus has now shifted to opportunity-based entrepreneurship.
Further, the survey also revealed that the Indian mindset is psychologically conditioned against setting up a business because of a deep-rooted fear of failure. "Businessgyan has identified this need and positioned itself as a vehicle which gives an overall perspective of running a large scale operation. Out of this emerged an initiative called e-drive that helps fledgling businessmen," explains Jai Xavier Prabhu, editor at large, Businessgyan.
As part of this initiative, the organisation has targeted 15-20 management colleges where they plan to offer this programme. "We plan to hold a series of workshops spread over a three-month term where students will be exposed to the rudiments of setting up their own business. Classes will be held at the convenience of the college. Case studies of entrepreneurial ventures will be dissected and discussed. Successful entrepreneurs will also be invited for guest lectures and debates. We have currently targeted this programme towards MBA students because they already have a good grounding in management," adds Balaji Pasumarthy, an IIM-B alumnus and publisher of Businessgyan.
Top of the line management institutes train students with the prospect of preparing them for a mid-managerial post and hence indirectly discourage entrepreneurship. Ashwin, a final year student of St Joseph's College, is quite impressed with this concept. "It will gives us a better insight and foundation into learning the nitty-gritties of business," he says. Ajit, a management graduate, agrees: "Most management courses focus only ontheory and offer little help on the practical front."
The course which will cost Rs 300 for three months also includes a one-year subscription to Businessgyan. Xavier Prabhu is optimistic that with more and more financial institutions willing to offer support to entrepreneurs with a sound business plan, the risk-taking ability will percolate down our system as students are taught how to cope effectively with business pressures and potential pitfalls.
