Indian entrepreneurs are facing many problems in running enterprises and not in a position to utilize the entrepreneurial opportunities. What are the reasons? Why there is a gap between entrepreneurial aspirations and transformations? What is happening with entrepreneurial researches done by doctoral scholars? To what extent the entrepreneurial researches in India serving the aspirant entrepreneurs! This paper explores the true picture of Indian Entrepreneurship Researches, explaining why the entrepreneurship research is not delivering its expected result of making the India as a place of Best Entrepreneurs of the world and converting graduates and Management post graduates into entrepreneurs.
Keywords: Entrepreneurship, Entrepreneurship research, Management students, Graduates, Indian scenario.
Growing economy, over population, sufficient resources, government support, aids from international institutions, employment solution and so on. What not, all these are associated with the entrepreneurship in India. If it is the case India would attract the world through its entrepreneurial innovations and remarkable progress in industrial sector. Reality is different; with the advent of new economic policy in the year 1991 the total Indian economy witnessed a sea change in terms of emerging as world’s 7th largest economy. India economy completely changed its shape from closed economy to open and introduced many concepts like liberalization, privatization and globalization. Even after that policy also, the governments emphasized on promoting entrepreneurs from all the corners of the country. Attractive entrepreneurial promotion schemes, established new financial institutions and banks are also granting liberal loans to the entrepreneurs. Out of many ‘Make in India’ is a remarkable entrepreneurial development project from the government of India. The another side of the coin is ‘no changes in the mindset’ of the people, till now the entrepreneurship is regarded as a last option for many, majority of the surveys highlighted this and projected a normal transition in the entrepreneurship profession.
Role of Entrepreneurship Research in India:
Fortunately in India, for the last decade noticed many research works concerning entrepreneurship ideologies. These research works are carried by the Doctoral Scholars from Commerce and Management areas apart from Master’s and Undergraduate programs. Practically speaking all these researches should contribute enormously for the progress of entrepreneurship in India! But the fact is not so far. Many published and approved researches are becoming like a simple book, which is intended to place in book-shelfs or helps in getting the degree.
Time to Change:
It is the time to change. The researchers must go through with on-going issues. Entrepreneurial research is not about conducting a survey and presenting what is what! Change is the common phenomenon and it is applicable to all fields; as usually in the entrepreneurship research also.
What to Do?
Majority of the existing researches on entrepreneurship focused more on presenting entrepreneurial issues and limiting the scope with conventional implications. The upcoming researchers or currently who are working on it should consider the following aspects in the entrepreneurship research:
i. Creating local entrepreneurial groups and connecting them with aspirant student circles;
ii. Approach the entrepreneurs and discuss conditions prevailing for entrepreneurial opportunities at locale and communicate same to the students (every researcher should maintain connection with two or three academic institutions);
iii. Do research on exploring newer businesses opportunities in start-ups;
iv. Including the commerce and management students while conducting entrepreneurial surveys;
v. Doing pre-survey in the local area before commencing an entrepreneurial research;
vi. Do research on various government support schemes and constructively figure out to help various needy parties with entrepreneurial zeal;
vii. Keep on publishing the research thoughts which are controversial with the current research;
viii. Give contemporaneous ideas on converting traditional ventures with modern touch;
ix. Attend as a participant in entrepreneurial summits and conferences to gain and share latest knowledge;
x. Discuss the research topic with selective entrepreneurial aspirants to focus on students’ perspective;
xi. Entrepreneurial research should go beyond the traditional lines like exposing local issues and finding right match between local and global entrepreneurial requirements;
xii. Doing research on sick units and inefficient public sector units;
xiii. Demonstrate demographic based entrepreneurship models;
xiv. Research doesn’t mean dealing with new but useful, derive new executable strategies;
xv. Specifically emphasize on orphaned rural products and services;
xvi. Ensure every entrepreneurship research must integrated with the marketability of the business;
Maximize Research Utility:
Most importantly all the approved entrepreneurship research works must be available in graduate and post-graduate institutions (soft copies). Discussions must be carried out on the researches in class rooms. Research analysis may be used as an assignment or project work. Specifically there is need for designing management games on analyzing entrepreneurial research studies.
Entrepreneurship research has a greater scope in terms of national importance and individualized advancements. There is a great need for new researches in this arena which could certainly change the scenario of entrepreneurship profession and culture.
This paper is the result of conversations with academic intellectuals and industry professionals. We thank sincerely all these eminent personalities for exposing the reality and helped us in writing this paper apart from incorporating our own acumen.
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