Management Institutes in India: Management and Entrepreneurship Education Going Hand in Hand

Dr Sushmita Biswal Waraich

(PhD, Delhi University)

School of Management,

The NorthCap University, Gurgaon

“Entrepreneurship requires management”

…Eric Ries, adviser to start-ups, companies, and venture capital firms.

There was a time when “management” and “entrepreneurship” were considered exclusive of each other. However, increasingly, it’s felt that they need to go hand-in-hand. Students from across all faculties opt for management, in order to learn about the various functions which would make them better managers. Traditionally, there has been focus on areas like HR, Finance, Marketing, Operations etc. Whether it is then, now or in the future we cannot do away with these subjects. However, a lot more stress needs to be put on entrepreneurship too.

Apart from the initiatives of the government,the need is being felt that management and entrepreneurship ought to go together. Whether you join an organisation or start your own enterprise, when you are a good manager, it takes you miles ahead. Hence, it goes without saying that when an entrepreneur is an effective manager it shows while running his/her operations. Entrepreneurial qualities like challenging the status quo, risk taking ability, leadership and many more are also looked up to when you are seeking employment today. In many companies a failed entrepreneur is given preference over others. This failure is not looked upon as a taboo anymore. The amount of learning the individual brings in with that failure is immense for the current organisation. Not just becoming an entrepreneur is considered important,even when you join an organisation you are expected to be“intrapreneurial”.This is why MBA institutes in India should be pitching in the necessary knowledge, skills and entrepreneurial attitudes. Along with the management functions, enough of grooming/training is happening in entrepreneurship education. Students are given platforms to exhibit their entrepreneurial skills. They are encouraged to come up with their ideas related to business and if it looks lucrative it is nurtured and given shape. Thus, while some will take to be entrepreneurs; all i.e. those generating as well seeking employment, will be equipped to be effective and efficient managers.

The NorthCap University, ranked 17th amongst all the private universities in India, gives equal importance to management as well as entrepreneurship. These are core courses being offered by School of Management, including Open Electives, to the students of other branches. This opens up the horizon for the students, keeping up with the times. The E-Cell of the University is active in stimulating the young minds and “kindling the entrepreneur” in them. Moving ahead, the University is floating an Executive Program on Entrepreneurship and Technology. We believe in grooming our students to be business leaders with a strong appetite for creativity, innovation and entrepreneurship.