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.
ABSTRACT
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.
KEY WORDS
Entrepreneurship,
Competency, Career, Innovative, Management students.
INTRODUCTION
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.
DEFINITION
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
Primary
Objectives
Ø To study the
competencies and career intention towards Entrepreneurship among Management
students in Madurai city.
Secondary
Objectives
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.
RESEARCH
DESIGN
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.
SAMPLING
DESIGN
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.
SAMPLING
TECHNIQUE
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.
DATA COLLECTION
Primary data
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
FINDINGS
Percentage
Analysis
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.
Mann-Whitney
U-Test
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.
Kruskal-Wallis H-Test
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.
Friedman
Test
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.
SUGGESTIONS
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.
CONCLUSION
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.
REFERENCES