Management Education in India and Entrepreneurship Development M ATIN  R AJE
Outline <ul><li>Entrepreneurship defined </li></ul><ul><li>The MBA environment in India </li></ul><ul><li>Critical Areas a...
Entrepreneurship Defined <ul><li>“ Entrepreneurship  is the practice of  starting new  organizations , particularly new  b...
Successful Entrepreneurs <ul><li>Driving force  of an enterprise  </li></ul><ul><li>Enthusiastic vision , promoted with pa...
The “entrepreneurial” MBA environment in India <ul><li>“ Opens your mind”  - broad, strategic, out of the box thinking </l...
What to watch out for <ul><li>“ Analysis paralysis” </li></ul><ul><li>Perfect or perfect enough? </li></ul><ul><li>Over em...
The MBA Advantage  <ul><li>Leadership Development and Organizations </li></ul><ul><li>Accounting – Managerial & Financial ...
Example: Finance and Accounting <ul><li>Basics extremely important on running a company </li></ul><ul><ul><li>Income state...
The MBA cohort experience <ul><li>Principal benefit is your peer group </li></ul><ul><ul><li>Encourages discussion and iss...
Entrepreneurship education in India <ul><li>Entrepreneurship   training centres </li></ul><ul><li>Entrepreneurship  educat...
Critical Factors <ul><li>Faculty Availability </li></ul><ul><ul><ul><li>Expertise and need for capacity building </li></ul...
Problems faced <ul><li>Absence of faculty awareness, opportunities, and interest </li></ul><ul><li>Lack of skills and know...
Lessons Learned <ul><li>Can entrepreneurship be taught? </li></ul><ul><li>Successful entrepreneurs are driven, passionate ...
Lessons Learned <ul><li>Major problems faced in India are </li></ul><ul><li>Faculty availability and their  expertise leve...
THANKS <ul><li>Real question to ask is not  </li></ul><ul><li>“ Is an MBA needed to become an entrepreneur ? </li></ul><ul...
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Management education in india and entrepreneurship development

  1. 1. Management Education in India and Entrepreneurship Development M ATIN R AJE
  2. 2. Outline <ul><li>Entrepreneurship defined </li></ul><ul><li>The MBA environment in India </li></ul><ul><li>Critical Areas and Problems </li></ul><ul><li>Lessons Learned </li></ul>
  3. 3. Entrepreneurship Defined <ul><li>“ Entrepreneurship is the practice of starting new organizations , particularly new businesses generally in response to identified opportunities” </li></ul><ul><li>“ Willingness to take the risks involved in starting and managing a business” </li></ul><ul><li>“ The entrepreneur recognizes and acts upon market opportunities” </li></ul>
  4. 4. Successful Entrepreneurs <ul><li>Driving force of an enterprise </li></ul><ul><li>Enthusiastic vision , promoted with passion </li></ul><ul><li>Recognize path to vision is flexible, fluid and will continually evolve </li></ul><ul><li>Prudent risk takers </li></ul><ul><li>Persuade and inspire others to buy into the vision </li></ul><ul><li>Usually positive thinkers and strong decision makers </li></ul><ul><li>See the big picture and connect dots in ways that others can’t/don’t </li></ul><ul><li>Open to feedback – no such thing as “bad feedback” </li></ul><ul><li>Thrive on opportunities and threats </li></ul>
  5. 5. The “entrepreneurial” MBA environment in India <ul><li>“ Opens your mind” - broad, strategic, out of the box thinking </li></ul><ul><li>Rigor - question everything, accept nothing, probe deeply </li></ul><ul><li>Global mindset and connections </li></ul><ul><li>Importance of networking </li></ul><ul><li>Teamwork </li></ul><ul><li>Leadership </li></ul><ul><li>Step outside your “comfort zone” - continuous change </li></ul><ul><li>Dealing with pressure </li></ul><ul><li>Surrounded by highly driven, ambitious people </li></ul>
  6. 6. What to watch out for <ul><li>“ Analysis paralysis” </li></ul><ul><li>Perfect or perfect enough? </li></ul><ul><li>Over emphasis on branding and prestige </li></ul><ul><li>Herd mentality </li></ul><ul><li>Realistic or unrealistic expectations? </li></ul><ul><li>Are you doing an MBA for the right reasons </li></ul><ul><li>Applying just enough or too much structure and rigor? </li></ul><ul><li>Can entrepreneurship be taught ? </li></ul>
  7. 7. The MBA Advantage <ul><li>Leadership Development and Organizations </li></ul><ul><li>Accounting – Managerial & Financial </li></ul><ul><li>Finance & Capital Markets </li></ul><ul><li>Operations </li></ul><ul><li>Microeconomics </li></ul><ul><li>Decision Models </li></ul><ul><li>Statistics </li></ul><ul><li>Marketing </li></ul><ul><li>Strategy </li></ul><ul><li>International Economies & Macroeconomics </li></ul>
  8. 8. Example: Finance and Accounting <ul><li>Basics extremely important on running a company </li></ul><ul><ul><li>Income statement, balance sheet, cash-flow </li></ul></ul><ul><li>How different types of financing can be used to your strategic advantage </li></ul><ul><ul><li>Debt / equity ratios etc. </li></ul></ul><ul><ul><li>High leverage – high risk / Low leverage – low risk </li></ul></ul><ul><ul><li>Valuations! </li></ul></ul>
  9. 9. The MBA cohort experience <ul><li>Principal benefit is your peer group </li></ul><ul><ul><li>Encourages discussion and issues in entrepreneurship </li></ul></ul><ul><ul><li>Culture of risk-taking </li></ul></ul><ul><ul><li>Someone who you can look to for advice (perhaps for the rest of your career / life) </li></ul></ul><ul><li>Top schools have excellent faculty to act as mentors </li></ul><ul><li>Several top schools want to encourage entrepreneurship – have venture funds of their own </li></ul>
  10. 10. Entrepreneurship education in India <ul><li>Entrepreneurship training centres </li></ul><ul><li>Entrepreneurship education in management and technical institutions </li></ul><ul><li>Pedagogical Choices </li></ul><ul><ul><li>Case Studies </li></ul></ul><ul><ul><li>Business Plans </li></ul></ul><ul><ul><li>Mentoring </li></ul></ul><ul><ul><li>Entrepreneur lectures </li></ul></ul><ul><ul><li>Projects </li></ul></ul><ul><ul><li>Conceptual Lectures </li></ul></ul><ul><ul><li>Incubator Cells, Student Clubs and Promotional Activities </li></ul></ul>
  11. 11. Critical Factors <ul><li>Faculty Availability </li></ul><ul><ul><ul><li>Expertise and need for capacity building </li></ul></ul></ul><ul><ul><ul><li>Risk taking and Forward thinking capability of students </li></ul></ul></ul><ul><ul><ul><li>Conducive Environment – Financial, Political, Economical and Social </li></ul></ul></ul>
  12. 12. Problems faced <ul><li>Absence of faculty awareness, opportunities, and interest </li></ul><ul><li>Lack of skills and knowledge in interested faculty </li></ul><ul><li>Need for an effort to create interest in faculty and to develop the skills and knowledge needed to teach entrepreneurship </li></ul>
  13. 13. Lessons Learned <ul><li>Can entrepreneurship be taught? </li></ul><ul><li>Successful entrepreneurs are driven, passionate and committed to begin with – however, the MBA can help them raise their game even higher, if applied correctly </li></ul><ul><li>MBA environments can nurture risk taking </li></ul><ul><li>(It is the last time you can afford to take a risk and “ fail safely”) </li></ul><ul><li>Strongest contributions of Management Education </li></ul><ul><ul><li>Core business skills </li></ul></ul><ul><ul><li>Leadership </li></ul></ul><ul><ul><li>Teamwork </li></ul></ul><ul><ul><li>Ability to connect the dots (“go where the puck is going to be”) </li></ul></ul><ul><ul><li>Networks </li></ul></ul>
  14. 14. Lessons Learned <ul><li>Major problems faced in India are </li></ul><ul><li>Faculty availability and their expertise level </li></ul><ul><li>Genuine interest on the part of Students </li></ul><ul><li>Environmental factors </li></ul>
  15. 15. THANKS <ul><li>Real question to ask is not </li></ul><ul><li>“ Is an MBA needed to become an entrepreneur ? </li></ul><ul><li>(No), </li></ul><ul><li>but </li></ul><ul><li>“ can the MBA help you become a better entrepreneur ? </li></ul><ul><li>(Yes, absolutely) </li></ul>

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