A Study of Higher Education In Promoting Entrepreneurship In Madhya Pradesh
Examining the Role of Higher Education in Fostering Entrepreneurship in Madhya Pradesh
by Mr. Arpan Soni*, Dr. Rameshwar Soni,
- Published in Journal of Advances and Scholarly Researches in Allied Education, E-ISSN: 2230-7540
Volume 11, Issue No. 21, Apr 2016, Pages 0 - 0 (0)
Published by: Ignited Minds Journals
ABSTRACT
Entrepreneurship is increasingly becoming avery relevant instrument in promoting economic growth in a country. Thus therole of higher education in promoting entrepreneurship in Madhya Pradesh isanalyzed in this context and its initiatives tend to explain a greater fall inunemployment levels as the nation gears up to invest more resources to turnMadhya Pradesh into an education hub. As entrepreneurs have the potential tocontribute much to society, researchers have tried to analyze entrepreneurs’personalities, skills and attitudes as well as the conditions that fosterentrepreneurship. The growing concern is how should the education institutions,particularly the higher education institutions, impart essentialentrepreneurial knowledge in the syllabus to equip future entrepreneurs withthe necessary skills – the so called “entrepreneurship education”.
KEYWORD
entrepreneurship, higher education, promoting, Madhya Pradesh, unemployment levels, education hub, entrepreneurial knowledge, syllabus, future entrepreneurs, entrepreneurship education
INTRODUCTION
This paper looks at the entrepreneurship education in Madhya Pradesh as the Indian government has taken great effort to transform the economy into the knowledge-based economy (Abdullah, 1999). In this regard, “entrepreneur” has been identified as one of the key elements to the development of the knowledge economy. Thus, this paper attempts to study the development of entrepreneurship education in Madhya Pradesh and to investigate the effectiveness of the entrepreneur education in Madhya Pradesh (Alberta, Gray, 2000). The importance of entrepreneurship education is derived from the importance of the entrepreneurs to the economic system.
REVIEW OF LITERATURE:
Furthermore, entrepreneurship education is essential in equipping the graduates with a variety of skills and knowledge in order to produce successful entrepreneurs who are not only competitive locally but also globally (Hisrich, 1996). Various measures have been undertaken by the government with the aim to achieve the goal of complementing and exposing graduates to the world of entrepreneurship. Among the measures that have been implemented by the Indian government is the inclusion of the entrepreneurial subjects or courses related to entrepreneurship from primary school level to tertiary level (Megginson, 1997). The introduction of entrepreneurial studies is part of the strategy initiated by the government to change the mindset of graduates from being salaried workers to becoming self-employed. Argument arises on how the education institutions, particularly the tertiary education institutions, should impart essential entrepreneurial knowledge in the syllabus to equip future entrepreneurs with the necessary skills – the so called “entrepreneurship education”?
Is Entrepreneurship a Necessity in Today’s Economy? Why?:
Entrepreneurial education is recognized worldwide as being critical in facilitating economic growth which in turn is essential for addressing unemployment. Investing in entrepreneurial development can create jobs and stimulate productivity (Schumpeter, 1934). Entrepreneurial education requires investing time and capital. Postulate that there is widespread recognition that entrepreneurship is the engine that drives the economy of most nations. Therefore learning institutions at all levels are under increasing pressure from government agencies, the public and even students to develop a model at entrepreneurial education that will provide students with adequate entrepreneurial skills and enhance the development and promotion of small businesses.
Can Higher Education Cultivate Entrepreneurship?
Entrepreneurship education can also increase the interest of the students to choose entrepreneurship
entrepreneurship education can be useful in opening up the minds and interests of potential entrepreneurs have been brought (Vesper, Gartner, 1997). They stressed on the reality and hands-on approach in the business world because students need to be exposed early to this real situation for better understanding and to build up their self-confidence in business. Smart partnership between institutions and the business sector also been suggested which students can also spend some time in firms as part of the training or practicum programme so as to introduce them into the business culture. The purpose of teaching entrepreneurship is to give the students an exposure towards a better understanding of the concept of entrepreneurship and to nurture interest and awareness in business and to help them discover possibilities of various opportunities out there in the business world.
CONCLUSION:
Entrepreneurship education is in a period of rapid development. Entrepreneurship education at the college level has evolved from courses in small business management to full-scale curriculums at many schools. While these programs are struggling to shed their traditional orientations, progress has been made in creating courses that are more relevant and designed to appeal to students who may not be in traditional business school programs. At the entrepreneurship education began in the vocational schools and is now beginning to take hold throughout the school curriculum. Much more needs to be done to recognize that entrepreneurship can and should be an integral part of courses in government, business, sociology, and history. At the elementary level, entrepreneurship education can be a way of freeing the creative instincts of young students.
REFERENCES:
Abdullah, M. A. (1999), “Small and medium enterprises in Malaysia”, Ashgate, Brookfield,USA. Alberta C, Gray D (2000), Libecap, Insghts: A Kauffman Research Series, Kauffman Center for Entrepreneurial Leadership. Hisrich PS (1996). Entrepreneurship, sixth edition. 19, 20, 21: pp 64-65 Megginson WL (1997), small Business Management, second edition. 24. Schumpeter, J. A. (1934), The Theory of Economic Development. Cambridge: Harvard University Press.
