The Need For Entrepreneurship Education in India

Having knowledgeable business school professors as guides in their learning journey is an experience that is difficult to duplicate outside the college environment

What is Entrepreneurship?

Entrepreneurship could be viewed as one of the key reasons for the progress of the human race. The creation of things we use everyday, like our smartphones, tablets and cars have all been due to the efforts of entrepreneurs. However, it is important to note that entrepreneurship is not limited to the owners of small or large companies. Even self-employed individuals or the local paanwallah can embody the spirit of entrepreneurship. Anybody who wants to use their business acumen, perseverance and risk taking ability to build a figment of their imagination into something that benefits society can be considered a true entrepreneur.

This brings up the question; can the capabilities needed to be an entrepreneur be taught?

The Need For Entrepreneurship Education

There are conflicting views on the contribution that formal education can make for an entrepreneur who wants to build a successful company.

Some believe that a structured program of business education from a reputed institute would be invaluable for building the entrepreneur’s mindset, skills and knowledge. Reading the appropriate textbooks and having discussions within a classroom environment would be critical for enabling them to discover how the disciplines of marketing, finance, human resources and operations can be applied in a business. Additionally, having knowledgeable business school professors as guides in their learning journey is an experience that is difficult to duplicate outside the college environment. Those budding entrepreneurs who cannot take out time for a full time business program, can always avail of the many part time business courses offered in major cities around India.

However, others use the examples of famous entrepreneurs who did not finish college like Bill Gates, Richard Branson and Dhirubhai Ambani, to take the view that formal business education is not needed. They believe that entrepreneurship can be learned through the day-to-day running of a startup business supported by reading business books or getting advice from peers.

One thing that is common in both the above views is the importance of continuous learning as entrepreneurs start and scale their business. It is difficult for any entrepreneur to succeed if they close themselves to the various opportunities offered to enhance their personal competence.

The Options For Entrepreneurship Education

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