Transforming Youth's Perception in Entrepreneurship


Mr. Ranjan Upadhyaya
Faculty of Management Science
Banasthali Vidyapith

The dimension of the entrepreneurship is changing not from its perceptive form today environment but also from its origin. The lusts of entrepreneurship in rural and urban areas are different. The think tank has to continuously surrogate the aim of the entrepreneurship. The entrepreneurship is taking its toll not only from the customers' side or from the desi companies or from the unemployed youth, or from the nation but also from the lack of resources and skill and from the brain drain. The government and the non-government organizations and academicians are in favor to enhance the skill and the quality of the entreprenssurship in our country. The solutions to this problem can be easily made if positive attitude and the tilt for entrepreneurship from us can be enchanted. Acknowledgement of the entrepreneurial work has to be lauded form the surroundings and the family and the organization where they work and should be allowed to perform the sil of the innovation and creation in entrepreneurship.

The true colors of Entrepreneurship are here:

* Capture and share best practices (77.7%)
* Provide training, corporate learning (62.4%)
* Manage customer relationships (58.0%)
* Deliver competitive intelligence (55.7%)
* Provide project workspace (31.4%)
* Manage legal, intellectual property (31.4%)
* Enhance supply chain management (20.1%)
* Other (5.5%)

When we compare ourselves with China we find that China progressed more than we did though which they cumulate on the following grounds:

* Population (2002): China 1.28 billion; India 1.05 billion
* Population Growth Rate percent (2002): China 0.87; India 1.51
* Infant Mortality per 1,000 live births (2002): China 27; India 61
* Average Annual Real GDP Growth Rate percent (1990-2000): China 9.6: India 5.5
* Foreign Direct Investment (2001): China $44.2 billion; India  $3.4 billion
* Population in Poverty (2002): China 10 percent; India 25 percent
* Labor Force (1999): China 706 million; India 406 million
* Fixed Lines and Mobile Phones per 1,000 people (2001): China 247.7; India 43.8
* Size of Diaspora: China 55 million; India 20 million
(Sources: CIA World Fact book 2002; )

There has been a sizzling opportunity in the corporate with very lucrative perquisite which is being driven away in case of the youth not opting for Entrepreneurship. So what are those entry barriers in Entrepreneurship which are becoming the bottleneck in root cause of Entrepreneurship development?

* Perception of youth towards Entrepreneurship as career option;
* Lack of policy framework and strategy to create enabling environment for Entrepreneurship
* Lack of financial help and moral suasion.

Now the big question is that how the 16 millions youth can be diverted to the entrepereneurship is a herculean and challenging task which everyone has to think of and perform some duties.

Major Recommendations

* The first requirement is to change the mindset of the youth.
* Entrepreneurship to be introduced in education from the primary stage of education.
 Need for resource material and handbooks.
* Entrepreneurship and Business Development Cell (EBDC) to be established on campuses in all the universities and colleges in our country.
* Faculty Development Programmes should be made compulsory in Entrepreneurship. Counseling & guidance cells for VRS employees.
* Fellowships/ leave with half pay for young employees having feasible Entrepreneurship plans.
* Special incentives, hassle-free credit to be given to increase female participation in Entrepreneurship.
* Industry- academia linkage to be strengthened.

The glorifying corporate has portrayed that they have progressed in last fifteen years after the new industrial policy of 1991 because of the Entrepreneurship and the conducive Entrepreneurship environment in India. We can be an entrepreneurial nation because we have many reasons for it

* Freedom of speech and willingness to disagree foster creative solutions
* Very high caliber human capital
* Diversity in the true sense of the term, the key to stimulate intellectual discourse
* Functioning capital market and venture capital sector to find new ideas
* Young population is more rebellious and wants to challenge the rules of the game
* Entry of global competitors into India threatens the status quo
* Lack of legacy technologies which offer leapfrogging possibilities
* Unique market structure, customer needs and affordability
* Excellent institutional infrastructure like Banasthali Vidyapith
* Stress on Entrepreneurship, Science and technology education.

So at last we can conclude that if India has to achieve its projected 10 % growth rate she has to pursue and inculcate the youth perception in Entrepreneurship as the youth is the nation builder and going to form the next league of the enterprise icons in our nation. The lust for Entrepreneurship is limitless and engulfing and the act has to be enlightened so that its fruit can be reaped as early as possible. The think tank and the panchyati raj cannot survive in our country if no livelihood through entrepreneurship can be provided to the entire population of our country. The fate and development ladder is the Entrepreneurship which today needs a new look and a good framework as well a vibrant policy for its survival and long life. Today, youth is more courageous and hardworking and carrier oriented, and can be easily transformed if proper training and knowledge in Entrepreneurship can be provided. The cultivation of the new breed is in our hands and we have to surrogate their requirements with their skill and Entrepreneurship orientation and perception enhancement for better India. Entrepreneurship in India can be more lauded if we can capitulate the transformation process of the youth which had started in our nation and could live long and continue if more doors can be opened in their favor because they are going to be Entrepreneurial citizens of tomorrow.

Mr. Ranjan Upadhyaya
Faculty of Management Science
Banasthali Vidyapith

Source: E-mail July 31, 2006


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