Source: E-mail dt. 15.6.2014
A Study on Competencies and Career Intention towards Entrepreneurship among Management students in Madurai city of Tamilnadu, India
Mr. V. Nallamuthu B.com (Corporate Secretaryship)., MBA
Former Student of Dept. of Management Studies,
NPR College of Engineering & Technology, Natham, Tamilnadu.
Entrepreneurship is very often associated with adventurism, risk bearing, innovating, creativity and many other characteristics. Many fresh Management graduates do possess the knowledge and skill that are important for starting-up own business, however, only a tiny percentage of students choose to be self-employed immediately after graduating. The main objective of the project is to study the competencies and career intention towards Entrepreneurship among Management Students in Madurai city. The Descriptive Research design is used to carry the research and Convenient Sampling Technique is used to select the samples for the study. The sample size is about 300 management students and the data is collected through Self-administrated questionnaire.
Various statistical tools such as percentage analysis, Kruskal-Wallis test, Mann-Whitney Test, Friedman test, are used to analyze the collected data. This study will help to motivate the Management students to bring out Innovative and societal contribution projects in the Future. As anyone of the management student taking one step ahead and to create a new enterprise, it is hoped that this initiative will bridge the gap and change the mindset of management graduates from job seekers to job creators.
Entrepreneurship, Competency, Career, Innovative, Management students.
Entrepreneurship is the purposeful activity of an individual or a group of associated individuals, undertaken to initiate maintain or aggrandize profit by production, or distribution of economic goods and services. Entrepreneurship is very often associated with adventurism, risk bearing, innovating creativity etc. It is concerned with making dynamic changes in the process of production, innovation in production, new usage for materials etc. It is a mental attitude to take calculated risks with a view to attain certain objectives. It also means doing something in a new and better manner.
According to A.H. Cole “Entrepreneurship is the purposeful activity of an individual or a group of associated individuals, undertaken to initiate, maintain or aggrandize profit by production or distribution of economic goods and services”.
Entrepreneurial competencies are defined as “underlying characteristics possessed by a person which result in new venture creation, survival, and/or growth” (Bird, 1995).
FACTORS AFFECTING ENTREPRENEURIAL COMPETENCY AND CAREER INTENTIONS
Lack of adequate overhead facilities: Profitable innovations require basic facilities like transportation, communication power supply etc. They reduce cost of production and increase profit.
Non availability of capital: Inventions are capital oriented. In less developed countries most capital equipment have to be imported which involves foreign exchange which acts as a difficult problem.
Great risk: Risk is high in case of less developed countries as there is lack of reliable information, markets for goods and services is small etc.
Personality: In less developed countries the entrepreneur is looked upon with suspicion. Public opinion in the less developed nations sees in the entrepreneur only a profit maker and exploited.
Motivation: Motivation is the act of stimulating someone or oneself to get a desired course of action, to push the right button to get the desired results.
Religious, Social and Cultural Factors: Religious, social and cultural factors also influence the individual taking up an entrepreneurial career, in some countries there is religious and cultural belief that high profit is unethical. This type of belief inhibits growth of entrepreneurship.
Political: The political and also the political stability of country influence the growth of entrepreneurship. The political system, which promotes free market, individual freedom and private enterprise, will promote entrepreneurship.
Educational System: Talented young men were prepared to take white collared jobs or join government or professional services. Many were attracted towards politics. The result was that very few young men got attracted towards becoming efficient, industrialists, technicians, managers etc..,
Colonial Rules: The British rulers adopted discriminatory policy rich Indian businessman had special connection with foreign rulers and both satisfied their self interest. Even the little insurance and banking service scattered to the needs of some rich Indian businessman, British people in India did also not encourage Industrialization.
Joint Family System: Younger members of the family always depended on the head who never gave any kind of independence or encouraged units other than family business ones. A number of Young men were discouraged from diversifying from family business and doing something new and different.
Mindset: The mindset of the average Indian was never entrepreneurial. Our religious literature and epics told us to have patience and to keep on working without expecting the fruits of labor. This also killed the drive and desire to get into entrepreneurial activities.
Recognition by the society: In earlier days, the heroes India were the social reformers and the politicians. Now it is the era of sportsmen, models and film stars. It is sad that successful or the struggling entrepreneurs have never been recognized as heroes. Entrepreneurial activity did not get due importance in the India society.
The Following are the some of the List of Institution’s which promotes the Entrepreneurial Activity in India. They are as Follows:-
Ø Entrepreneurship Development Institute of India (EDII), Ahmedabad.
Ø Entrepreneurship Development Institute (EDI), Chennai.
Ø Centre for Entrepreneurship Development (CED) Madurai, Tamilnadu.
Ø National Institute for Micro, Small & Medium Enterprise (NI-MSME), Hyderabad.
Ø Indian Institute of Entrepreneurship (IIE), Guwahati.
Ø Centre for Entrepreneurship Development, Hyderabad.
Ø Centre for Entrepreneurship Development, Karnataka.
Ø Centre for Entrepreneurship Development (CEDMAP), Bhopal.
Ø Maharashtra Centre for Entrepreneurship Development (MCED), Aurangabad.
Ø Entrepreneurship and Management Development Institute (EMI), Rajasthan.
Ø Enterprise Development Institute (EDI), Kolkata.
Ø J&K Entrepreneurship Development Institute (J&K- EDI), Kashmir.
Ø Institute for Entrepreneurship Development (IEDUP), Lucknow .
Ø National Institute for Entrepreneurship & Small Business Development (NIESBUD), NOIDA.
Ø Kerala Institute for Entrepreneurship Development (KIED), Cochin.
STATEMENT OF THE PROBLEM
For the unemployment issues among management graduates, serious concern has been raised by policy makers and academicians. In curbing the issue, these graduates can choose to be self-employed. Many fresh graduates do possess the knowledge and skill that are important for starting-up own business, however, only a tiny percentage of students choose to be self-employed immediately after graduating. It may be due to lack of self-confidence or lack of encouragement or reassurance. There may also be others who are potential entrepreneurs but are not properly aware of the career options that are open to them. As becoming entrepreneur can be one of the options; their intention on becoming self-employed had prompted researchers to investigate particularly on the influence of entrepreneurial characteristics and entrepreneurial intention among management graduates towards entrepreneurial activities.
OBJECTIVES OF THE STUDY
Ø To study the competencies and career intention towards Entrepreneurship among Management students in Madurai city.
Ø To find out the reason why management students prefer Job Seeking.
Ø To identify Entrepreneurial characteristics among Management students.
Ø To find out the career intention of management students after graduation.
LIMITATION OF THE STUDY
Ø The study is based only on Management Students.
Ø Announcement of Parliamentary Election date.
Ø Most of the final year management students are gone for their MBA projects.
Ø The study is based on assumption.
Ø Most of the respondents are reluctant to participate in my Research.
Ø Data may be biased; probably the respondents hide their inner characteristics.
A research design will typically include how data is to be collected, what instruments will be employed, how the instruments will be used and the intended means for analyzing data collected. The research design is descriptive. A descriptive study provides the description of the present situation.
It refers to the number of items to be selected from the universe to constitute a sample. Here 300 management students are considered as sample in my Research.
The first step in developing any sample is clearly defining the set of objectives, technically called the universe, to be studied. Here the universe is the Management students in Madurai city. Non-Probability convenience sampling method has been including in this study.
PERIOD OF STUDY
The period of study was conducted from on the date of 02/January/2014 to 31/May/2014.
The data which are collected as fresh for the first time and thus happen to be original in character is called primary data.
Ø Data Collection Method - Survey method
Ø Data Collection Tool - Self-Administrated Questionnaire
DATA ANALYSIS TOOLS
The test is carried out using SPSS tool where the variables that are to be tested for independence is entered and results are identified. The various tests are done by using SPSS are percentage analysis,
Ø Mann-Whitney U Test
Ø Kruskal-Wallis H Test
Ø Friedman Test
Ø It is establish that the gender of the respondents of the Management students is 64% of male students, 36% of female students.
Ø It is create that the Creativity of the respondents of the Management students is 4% of students Disagree, 40% of students Neutral, 33% of students agree, and 23% of students strongly agree.
Ø It is institute that the Problem Solver of the respondents of the Management students is 60% of students Neutral, 25% of students agree, and 15% of students strongly agree.
Ø It is create that to become entrepreneur of the respondents of the Management students is 4% of students Disagree, 70% of students Neutral, 16% of students Agree and 10% of students strongly agree.
Ø It is create that there is an impact of Gender towards Taking Lead.
Ø It is found that there is an impact of Family owned business towards Risk Taking.
Ø It is initiate that the career intention influences desire to become an Entrepreneur.
Ø It is bring into being that the residential areas influence Entrepreneurs bringing positive transformation in the society.
Ø It is establish that there is an association between Family owned business, First Graduate, India’s future in the Hands of Entrepreneur and Entrepreneurs are Influential people.
Ø It is set up that there is an association between Proper Planning, Problem solving, committed to work and self confidence.
Ø Students should Identify and Recognize their existing competencies and developing the new competencies needed.
Ø Students should assess their-self on weekly basis through SWOT analysis and developing the competency mapping.
Ø Students should improve their Problem-solving skills.
Ø After completion of graduation most of the students seek for job because of their family situation, after stabilizing family situation they may go for start their own enterprises.
Ø Students should be aware of the governments subsides and schemes towards entrepreneurship for Initiating a new enterprises.
Ø Government and Educational Institutions needs to create suitable awareness to promote entrepreneurship, especially in rural areas.
Ø Educational Institutions need to instruct their students to prepare business plans and bring DIC (District Industries Centre) officers and any other venture capitalist to facilitate creating a new venture rather than bringing companies in their campus for Placement.
As a researcher of this study, I conclude that entrepreneurship competencies impacts positively on the career intentions of management students. The entrepreneurial competency leads to increase the superior level of entrepreneurial process but it depends on their intentions towards entrepreneurship. As anyone of the management student taking one step ahead and to create a new enterprise, it is hoped that this initiative will bridge the gap and change the mindset of management graduates from job seekers to job creators.