by Admin | Mar 25, 2020 | IITBOMBAY-WU
Entrepreneurship has been one of the most compelling economic forces in the world and in India for the past few decades. From starting a new enterprise, to establishing the domestic market, to overseas acquisitions, these are no longer just dreams but everyday realities. Providing Indian entrepreneurs with advocacy and assistance have been the mainstay of our Government and many non-profit organizations that have been working towards creating a favourable environment for them.
But entrepreneurial competency, I believe, is an on-going process and that it rests firmly on the back of contextual and relevant education. I further believe that the word ‘education’ here falls into 3 distinct domains – knowledge, skill and attitude.
Knowledge is at the core of this competency and includes the basics of entrepreneurship, value creation, idea generation, opportunities, accounting, finance, technology, marketing, risk and other fundamental concepts. Entrepreneurial skill consists of resources, innovation & opportunity, creativity, interpersonal, learning and strategic skills that are extremely useful in the entrepreneurial process. And attitude consists of passion, belief, inspiration, identity, value and ethics.
Where did all this begin? It began with entrepreneurial intention that is defined as a personal orientation of an individual to start a business, to become self-employed or lead venture creations. While entrepreneurial intention in India is as old as the Indian mercantile history, universal entrepreneurship is a fairly recent phenomenon. And hence developing and sustaining a good educational ecosystem for our entrepreneurs to be able to stay in and ahead of the game is a prerequisite.
Entrepreneurs are our country’s national assets and entrepreneurial India is an entire nation’s responsibility. It will always remain the Government and the academia’s combined obligation to ensure that entrepreneurial intentions, competence, confidence and optimism are at their best during every individual business life-cycle.