Entry Barriers and Curriculum Development.pptx

Entry barrier

1. Entry Barriers and Curriculum Development

2. Research Study ‘Entry Barriers to Entrepreneurship: As perceived by youth’

3. Entry Barriers to Entrepreneurship Objectives: To understand perception of youth towards entrepreneurship as career option; To identify barriers to entry; & To evolve a policy framework and strategy to create enabling environment for entrepreneurship

4. Methodology Sample States: Four States of India, i.e. Gujarat, Karnataka, Orissa, U.P. Sample: Two segments: Final year Students (972), Employees from public, private and cooperative sectors (653), Total 1625 Female representation 25%

5. Major Findings Career Plans: For Business: 19.2% (Students 14.4, Employees 26.3) Not for Business: 80.8%

6. What Keeps today’s youth away from Entrepreneurship?... 1) No Interest in Business/Distinct preference for service Job offers secured income & access to power Satisfaction with current job Lack of achievement motivation

7. …What Keeps them away 2) Desire to wait for some more time To gain experience To arrange financial resources To try for a good job first

8. …What Keeps them away 3) Lack of Confidence in Business Lack of knowledge of business opportunity Lack of ability to take risk Lack of managerial skill Lack of knowledge of procedure & formalities

9. …What Keeps them away 4) Disapproval of Family/Friends No risk bearing capacity of the family No affiliation to business community Family pressure to earn money through job

10. Reconsidering Business Career? 58.3% of those (80.8%) who had no business plans were ready for entrepreneurship, if helped for: Finance Project Idea, & Training for business and management

11. Critical Needs of those planning for entrepreneurship Timely and adequate finance Knowledge and skill training Encouragement by family

12. Minimising the Barriers: A Suggestive Framework Entry Barriers Reasons The Need Attitudinal – No Interest in a business career or a distinct preference for employment Intolerance for uncertainty/ insecurity Lack of entrepreneurial motive Lack of business aptitude Accessibility to power in job Inculcating entrepreneurial values Motivation development Skill training/ counselling Decentralisation Desire to wait for some more time To gain experience To arrange for finance To secure a job first Vocational/ skill training Ensuring timely access to finance/capital Changing the mind set

13. Minimising the Barriers: A Suggestive Framework (Contd.) Entry Barriers Reasons The Need Lack of confidence and ignorance about information related to launching and managing a business Lack of knowledge of business opportunity Low risk taking Lack of knowledge about start up formalities Lack of managerial skills Lack of finance Business opportunity guidance Behavioural training Information & procedures, sources of assistance Managerial training Ensuring access to timely & adequate credit Disapproval of family, friends and relatives No risk bearing capacity in family Not from business community Pressure to earn money through job Counselling Cases of successful 1 st generation entrepreneurs Provision for social security, fellowships

14. Suggested Interventions Objective Focus Interventions Who can do? Entrepreneurship/ self-employment awareness; capability development Potential entrepreneur Education, Camps, EDP/OLPE; guidance centre for VRS employees Education/ ED Institutions/ Extension Centres Sensitising the support system, creating environment Financial institutions/ banks, government agencies Bankers work-shops, hassle free finance & support; BDC Industry Departments, associations ED institutions Creating need and awareness about entrepreneurship as a better career option than job Society/ Family Awareness thru print and electronic media; Counselling & guidance Industry Departments/ ED Institutions, Media

15. Entrepreneurship Curricula in Institutions of Higher Learning Objectives To understand the content and nature of academic inputs in entrepreneurship courses

16. Sample Institutions & Size Universities/Agriculture Universities, Engineering Colleges, B-Schools, and ED Cells from All regions Analysis based on UG/PG/short duration course details of 39 institutions

17. Analysis of the Curricula Content analysis and classification of academic inputs into broader categories of inputs: INFORMATION- SSI sector, schemes, incentives etc. MOTIVATION- confidence building, attitude development MANAGERIAL- general, functional managerial skills BUSINESS OPPORTUNITY IDENTIFICATION- opp. Guidance PROJECT REPORT- feasibility analysis GENERAL- theories, models, history etc. STRATEGY/ECONOMIC POLICY- business environment INTRAPRENEURSHIP- entrepreneurship within

18. Highlights of the Results INFORMATION Inputs: Range Very High (5-70%) Differences More Among Management Institutions Than EDCs and Agri. Univ. 2. MOTIVATION Inputs: (10- 20%) While Institutions Consider Such Inputs Necessary, Emphasis Is Less

19. …Highlights of the Results MANAGERIAL Inputs: Range Very High (5-60%) Differences more in S&T Institutions Than Management Less emphasis on Such inputs by Management Institutions BUSINESS OPPORTUNITY IDENTIFICATION Inputs: Relatively Lesser by Most (Range From 5-25%) Most Institutions offer around 10%.

20. Emphasis in PROJECT REPORT Differs. Barring few exceptions, most S&T Institutions Give 20-25% of such inputs. Engineering Colleges with EDCs Give more emphasis to PR inputs. General Inputs Less Emphasized BUSINESS STRATEGY/ ECO. POLICY by Selective Institutions Only (e.g. IIMA, 20% in LEM Course) Some S&T Institutions also offer such inputs but Agricultural Universities Rarely Have. …Highlights of the Results

21. INTRAPRENEURSHIP Inputs Are Again By Selected Institutions (IIMA 25%, Corporate Entrepreneurship & Organizational Innovations) Other institutions have little inputs on creativity and innovation. …Highlights of the Results

22. Babson College Curriculum for Course on Entrepreneurship & New Ventures INFORMATION - 10% MOTIVATION - 5% MANAGERIAL - 10% BOI - 30% BUSINESS PLAN/ PROJECT - 20% GENREAL - 10% STRATEGY / ECO. POLICY - 10% INTRAPRENEURSHIP - 5%

23. Indian & HBS, Babson Curricula More Information & Managerial Inputs Some Motivation Inputs Limited Choices For Students - Either New Enterprise Creation Or Entrepreneurial MGT. Etc. Less Inputs On Creativity/ Innovation Approach Usually Theoritical , Less Applied More BOI & Business Plan Related ‘No’ Or Very Little Liberal Choices, Electives ON FBM, VC, Corporate Strategies etc. More Such Inputs. Also Orgn . Leadership Team Building etc. More Applied, Opportunities For Consulting. Teaching More Through ‘Cases’ INDIAN INSTITUTIONS HBS & BC

24. Inputs to Remove Constraints Faced by Potential Entrepreneurs   Constraints Development Inputs 1 Low Motivation/Confidence Behavioural/Psychological/Motivation Training 2 Which business to set up? Opportunity Counselling 3 How To Collect Market Data and Get Loan Market Survey Training & Project Plan Guidance 4 How can I run the Unit? Managerial Inputs 5 How to go about it? Who can help for What? Formalities? Procedures? Information on Organizations Procedures, Sources of Assistance 6 Can i do it? Am I the one to do it? Confidence and Competence Development

25. Thanks