The Entrepreneurial Itch: B-school Graduates Turning Entrepreneurs!
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The 9 to 5 culture is gradually giving way to a 24 x 7 work culture. This is leading to a compromise on the work-life balance and how many employees feel it is time to call it quits and venture on a new path.
So, let us now look at the 5 reasons why B-school graduates find entrepreneurship an exciting proposition:
1. Absence of Adequate Employment Opportunities
Interesting employment opportunities seem to be drying up in the market. India’s demographic dividend has also led to saturation in certain kind of jobs along with the absence of new job openings. There are not many openings for a postgraduate in management to become a management trainee and get exposed to all the functions within an organisation. Added to this is the fact that many students graduating from middle rung business schools lack the soft skills needed to succeed in a business environment. They lack the killer instinct mainly because the degree is earned without much effort and so the value of the program is lost on them. This is a vicious cycle – employers reject candidates and candidates reject offers.
2. Drive to be on One’s Own Feet
Many students are uncomfortable with deadlines imposed by businesses. Used to an easy campus lifestyle in business schools (where students are deified as customers and are mollycoddled) they struggle to meet sales targets and are at a loss to cope with such stressful situations. Some of them lose their jobs within no time and are thus forced to start on their own. Such a predicament forces them to stand on their own and to think on their feet to tap business opportunities. That they have a great degree of absorptive capacity for technology-enabled solutions works in their favour.
3. Vapid Job Descriptions and Mortifying Deadlines
Job descriptions and roles in many organisations are characterized by drudgery with little scope for creative thinking and use of one's abilities. Expectations of graduating students and those of their organisations are misaligned – sooner than later, the reality sinks and there is an acute sense of disillusionment with the establishment. Unable to cope anymore, such employees throw in the towel and when they realize that the situation is much the same everywhere, they start scouting for opportunities to create something on their own.
4. The Emerging Startup Culture in India
Massive advances in technology, the steps by the government to encourage entrepreneurship and the limitless opportunities attract business school graduates to try their luck in entrepreneurship. Many business schools support their alumni in such efforts by setting up incubation centres and organizing workshops. Some organisations play a role as accelerators to support fledgeling businesses. The Government’s efforts as part of “Skill India” are also encouraging people to explore uncharted territories with tremendous scope to generate revenue.
5. The Confidence That an MBA Program Entails
Whether it is a premium B-school or a middle rung B-school, the truth is that a postgraduate degree in management is considered priceless because it exhorts students to develop their soft skills and enhance their overall personality. Students graduating out of a business school become more confident and they are also aware of their limitations. There are scores of successful students who have made the transition from a painfully shy and reticent student to someone brimming with optimism, enthusiasm and boundless confidence in his/her abilities.
This trend of business school graduates turning to entrepreneurship is an encouraging sign for India’s economy. These entrepreneurs will create more job opportunities and contribute to the growth in GDP. They will also learn the ropes of business through a series of trials and tribulations. But they will emerge victorious after all the ordeals if they treat the challenges as part of the learning-cum-growing process.