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30-5-2009

Entrepreneurship is the first career choice of MBA students in Ludhiana, reveals study


“Entrepreneurship has become the first choice of majority of MBA students in Ludhiana. The most important factors which encourage the respondents to become entrepreneurs are professional & technical education of the respondents, desire to be self employed, desire for more money followed by family background, desire for taking personal responsibilities, Self Achievement & Dignity and success stories of existing entrepreneurs” revealed study conducted by Ms. Ramandeep Kaur Kailey, MBA final year student of Punjab College of Technical Education (PCTE) under the guidance of Mr. Sandhir Sharma, Sr. Faculty recently. The study was exploratory in nature and limited to Ludhiana city. The study included 100 MBA final year students as respondents studying at various institutes in Ludhiana city.

“It is very encouraging to know that youth of India after getting their professional degrees are now inclined more towards Entrepreneurship. Entrepreneurship is the best choice for young professionals especially when there is global recession” remarked Dr. K.N.S.Kang, Director General, PCTE Institutes while congratulating the student for undertaking relevant topic in the current environment.

The study found that majoriy i.e. 34% of the respondents joined MBA degree for better job opportunities and acquiring management skills. 15% of the respondents revealed that they chose to undertake MBA degree under the Influence of family and friends. The study also found that majority of students i.e. 83% did not had any prior work experience while joining MBA. As per the study, 83% of the respondents were influenced by professional and technical education they have attained and their family background as major socio economic factors forcing them to be entrepreneurs. Desire for taking personal responsibility and need for self achievement were the major psychological factors influencing young minds to be an entrepreneurs. Besides above, the study found that making money, securing self employment and gaining social prestige and dissatisfaction from the job were some other compelling factors to be an entrepreneur. The study found that risk taking quality, innovativeness, technical knowledge, ability to marshall resources and other management skills are major qualities required by someone for becoming successful entrepreneurs. As per the study, majority of the students opted retailer and Services for their level of Operations followed by manufacturing, then trading and very few have opted wholesale, dealer and others for their level of Operations. Majority of the students have opted retail (FMCG) as a field in which they would like to be an entrepreneur followed by Textile, Iron & Steel and then Education.

As per the study 43% of the respondents declined their wish to be an entrepreneur. The major contributing reasons were lack of seed capital, lack of market knowledge and lack of self confidence. 67% of the respondents were of the opinion that management institutes are not motivating and educating them to become entrepreneurs. As per the study, the respondents suggested that the management institutions of the city should start with incubation centers for entrepreneurship, short courses on entrepreneurship skills and consultancy services. The respondents further suggested that the institutes should encourage the students by imparting practical knowledge and creating encouraging atmosphere for students to become entrepreneurs. As per the study, majority of the respondents were not aware about the entrepreneurial facilities offered by various govt. and private bodies.