Entrepreneurship is defined as the process of designing and launching a new business. Initially, the business opened is small but it grows as it attracts customers and yields profits. Young entrepreneurs begin their new and small businesses with a hope to expand or collaborate with someone in future. Business, be it big or small requires investment. Therefore, to start with a new business people need to invest.
Entrepreneurship helps the students in enhancing and developing their skills so that they can predict future threats and uncertainties towards their business. They are taught problem-solving techniques, empathy, teamwork, leadership qualities and much more. Young entrepreneurs are also taught to accept criticism and failure in a positive way. There is a theoretical framework of a student’s attitude towards entrepreneurship. According to this framework, a student’s attitude towards entrepreneurship is checked along with certain parameters. This is explained below with the help of a figure:
There are certain factors that influence the attitude of an entrepreneur.
You need to have a positive mindset to be an entrepreneur. An entrepreneur takes failure, success and criticism the same way. So to begin a business you need to be positive in nature.
An entrepreneur has excellent communication skills. He/She can tell their subordinates how a particular task has to be carried out. To expand the business you need to have good communication skills.
An entrepreneur has to make his goodwill in order to expand his/her business. Other reputed businessmen and traders rely on entrepreneurs for the material that has to be provided. Dependability is one important trait that an entrepreneur must possess.
An entrepreneur helps his juniors and subordinates in various tasks in order to ensure the smooth running of the business. He/She is the go-to person for all the problems. An entrepreneur must be resourceful and help in finding solutions for the problems.
Entrepreneurship is important as it helps people in upgrading their standards of living. People can not only expand their businesses and yield profits but also can collaborate with other rich businessmen. Entrepreneurs can also help in changing the conventional mindset of people by innovating various improved products. They not only help in business development but also make the economy strong. There is a scope of a student’s attitude towards entrepreneurship. But there are certain points which will help you in understanding the student’s attitude towards entrepreneurship.
- People have a neutral attitude regarding entrepreneurship. Some students think it’s good while some think it’s not.
- Most students feel that the present education system does not focus on entrepreneurship. Therefore, they want an education system which will help them in developing the entrepreneurial qualities.
- Most people who wish to begin new businesses do not have the required capital and labour. Therefore, people have this negative perception regarding entrepreneurship.
- Most people do not have the required sources to begin a new business.
- People should be made more aware about entrepreneurship programs and the education system must inculcate entrepreneurship qualities among students.
Student’s attitude towards entrepreneurship needs to be changed if it’s negative. For this, certain things need to be changed like the education system. There should be awareness programs regarding entrepreneurship development among students. This will help the students in getting a better understanding of entrepreneurship.
Attitude of Management Students regarding Entrepreneurship
Management courses focus on the main aim of providing potential to the people in setting up their own businesses. Management students get a good training in entrepreneurship related programs and courses. After completing their MBA, people set up their own businesses. These entrepreneurs help in economic development. Therefore, Entrepreneurship is a good career option for the ones who wish to become businessmen.
According to Global Entrepreneurship Monitor (GEM), there has been a constant growth of entrepreneurial activities in India. Students develop certain skills and qualities regarding entrepreneurship but do not know where to begin. Therefore, certain awareness programs are organised for the students to have a better understanding of entrepreneurship. In this management plays a vital role in inculcating such qualities. In order to begin a new start-up, people must arrange capital and labour first. And then move on to the other aspects like material, workers etc.
Entrepreneurship helps people in building their goodwill and expanding their businesses. People get enrolled in courses like BBA and MBA to have a better understanding of the same. Student’s attitude towards entrepreneurship varies depending upon certain factors. Some people find it difficult in starting a new business because they do not have the required sources. On the other hand, others can begin a start-up company with a huge amount of investment in capital and labour. Therefore, these courses help students in having a fair view about entrepreneurship and also help in knowing where to invest and where not to.