S Radha Prathi, February 3, 2016
The need for startups has slowly emerged after long periods of procrastination and hibernation. Though India has come miles from the time of acute unemployment, we still find the problem is still rampant because we find an indefinite number of educated people who are not usefully employed.
While a number of causes like over-population, under-employment, lack of infrastructure, inferior work skills and such other factors can be attributed to explain this situation, there are certain other factors that have to be taken into consideration.
For instance, a candidate who has completed his master degree in Business Administration from a reputed institution like Harvard, Yale or IIM, lands himself on velvet at the end of the course while his counterpart from a lesser known institution is usually treated as a lesser mortal in the job market. The secret of the successful candidate lies in the kind of training he receives besides hardcore academics.
This is one of the main reasons why the institution that offers these post graduate degrees should incorporate value-added courses along with the main one. Value-creation through informed entrepreneurship is aimed at helping potential entrepreneurs to explore their strengths and weaknesses long before they enter the market.
Colleges have been known to encourage students to put forth their business plan which are evaluated in earnest by the Moguls in the field in the hope of inspiring entrepreneurship among the enthusiastic students.
Besides, they have placement cells and entrepreneurial cells in the premises of their campuses in order to help their students to launch themselves into the big bad world on their own feet. Then there are internship programmes that expose the students to the realities of the serving as practical lessons.
Colleges regularly take students out on industrial visits, expose them to expert guest lectures and work on their corporate communication skills besides formal academic training.
The colleges have expert in-house corporate consultants who organise student internship with reputed companies, sketch business plans and even help the students to execute their plans if it is found feasible.
Students are helped to zoom up small businesses to international levels by actively interacting among themselves and also with their guides and guest faculty. There are also several instances of students who have networked with business hotspots abroad and have carved a niche for themselves in the world of business.
Hardcore academicians feel that too much exposure to the practical realities may distract students from the main purpose of gaining insight into the crux of the subject and moulding near ideal situations.
Yet the flipside of the matter validates the viewpoint that this step is necessary to bridge the gap between the academic cream and the dregs. It especially helps the students in the middle category to launch their businesses. This measure stands in partially for the government which cannot apparently provide jobs to all of them.
Moreover, if students were conversant with the market needs even as they were studying their chances of their impending success becomes more ascertained in a world riddled with rat races.
The measures taken by these institutions are playing a great role in channelising the young post graduates of management into rewarding. Most students studying in these colleges disclosed that the fees was certainly on the higher side but the perquisites they received from the college kind of compensated the price.
Some students from humble economic backgrounds choose to study in these expensive colleges only because they are assured jobs or will be given the due support to start their businesses. Perhaps it is this sense of anxiousness in the student community which has led to the mushrooming of a large range of on-campus placement and business cells in almost every private college.
Apparently, the need of the hour happens to be to motivate the budding business entrepreneurs into taking a plunge into the free market economy and emerge as winners by meeting the specific industry requirement. In the present day scenario, it has become the social responsibility of colleges to stretch their roles as career guides.
The business management courses have a greater responsibility to structure and pad in such a way that it steps up the desire to continue family businesses, start their own businesses and also enhance the employability quotient of students. This is the only way in which we can work towards economic up gradation and protect students from becoming pessimistic, desperate and demoralised by unemployment.