Impressions of Entrepreneurial Attitude on Entrepreneurial Progression


Scientific Study, 2016

44 Pages, Grade: Awarded


Excerpt

Table of contents

ACKNOWLEDGEMENTS

1. Prologue
1. a. Entrepreneurship in India
1. b. Management Education Issues & Concerns
1. c. Management Education - Present Scenario
1. d. Significance of Entrepreneurship Education as Subject of Study
1. e. Role of Management Education Vs Attitude Orientation
1. f. Attitude

2. Research Methodology
2. a. Statement of the Problem
2. b. Need for the Study
2. c. Objectives of the study
2. d. Type of Research
2. e. Research Setting
2. f. Population of the study
2. g. Sample size determination
2. h. Sampling Technique
2. i. Sampling Procedure
2. j. Sampling Criteria
2. k. Period of the Study
2. l. Research Instrument
2. m. Data Collection
2. n. Data Collection Procedure
2. o. Scope of the Study
2. p. Limitations of the Study
2. q. Pre Testing of Questionnaire
2. r. Validity Testing of Questionnaire
2. s. Reliability Testing of Questionnaire

3. Discussion of Results
3. a. Impact of Management Education on Students Entrepreneurial Attitude Orientation
3. b. Impact of Faculty role on Students Entrepreneurial Attitude Orientation
3. c. Impact of Entrepreneurial Attitude Orientation on the Management Student’s Attitude towards Entrepreneurship
3. d. Influence of ‘Attitude towards Entrepreneurship’ factor on Management Students
3. e. Impact of Demographic Factors on Entrepreneurial Attitude
3. e.1. Analysis of Entrepreneurial Attitude Orientation based on Respondents Gender
3. e.2. Analysis of Entrepreneurial Attitude Orientation based on Respondents Age
3. e.3. Analysis of Entrepreneurial Attitude Orientation based on Respondents Marital Status
3. e.4. Analysis of Entrepreneurial Attitude Orientation based on Respondents Parents Employment Status
3. e.5. Analysis of Entrepreneurial Attitude Orientation based on Respondents Family Annual Income
3. e.6. Analysis of Entrepreneurial Attitude Orientation based on Respondents Level of Study
3. e.7. Analysis of Entrepreneurial Attitude Orientation based on Respondents Residential Status
3. f. Impact of Demographics on students Attitude towards Entrepreneurship
3. f.1. Analysis of Attitude towards Entrepreneurship based on Respondents Gender
3. f.2. Analysis of Attitude towards Entrepreneurship based on Respondents Age
3. f.3. Analysis of Attitude towards Entrepreneurship based on Respondents Marital Status
3. f.4. Analysis of Attitude towards Entrepreneurship based on Respondents Parents Employment Status
3. f.5. Analysis of Attitude towards Entrepreneurship based on Respondents Family Annual Income
3 .f.6. Analysis of Attitude towards Entrepreneurship based on Respondents Level of Study
3. f.7. Analysis of Attitude towards Entrepreneurship based on Respondents Residential Status

4. Findings, Recommendations & Conclusion
4.1. Findings of the Study
4.2. Recommendations
4.3. Conclusion

5. Research Contribution

6. Scope for Further Research

References

ACKNOWLEDGEMENTS

Though only my name appears on the cover of this dissertation, a great many people have contributed to its production. I owe my gratitude to all those people who have made this dissertation possible and because of whom my graduate experience has been one that I will cherish forever.

My deepest gratitude is to my Research Supervisor Dr. B.Gangaiah, I have been amazingly fortunate to have an advisor who gave me the freedom to explore on my own and at the same time the guidance to recover when my steps faltered. Your advice on both research as well as on my career have been priceless. I must thank you for the incessant inspiration, expert guidance, invaluable suggestions, and all your moral support.

I would especially like to thank Prof. B.Syama Sundar, Vice-Chancellor and Prof. T.Sreenivas, Chairman, BOS of Yogi Vemana University, Kadapa for their valuable support and encouragement.

I would also like to thank all of my friends particularly G.V.Chandra Mouli who supported me to strive towards my goal. His support and care helped me to overcome setbacks and stay focused on my research study. I greatly value his friendship and I deeply appreciate his belief in me.

A special thanks to my family. Words cannot express how grateful I am to my Father, Sri.J.C. Subbarayudu and Mother, Smt.J.Lakshmi Devi for all of the sacrifices that you’ve made on my behalf and for your love and support throughout my life. Your prayer for me was what sustained me thus far.

I would like to thank my wife Juturu Sujana, for bearing with me and always staying by my side through all the ups and downs. You are the best partnership I've had in my life. I could not leave this page without thanking my Diamonds Juturu Saanvi and Juturu Hanish for making me cheerful with their presence.

Juturu Viswanath

1. Prologue

Entrepreneurship is considered as one of the most powerful driving force to any nation’s growth and development. In fact the Entrepreneurship should be viewed as an opportunity to support the self and the country; simply it can be called as ‘develop to develop’. The entrepreneurial activities are aimed at creating wealth, addressing various socio-economic issues and promoting the nation’s status in a globalized scenario.

Since Independence, India’s prime and unsolved problem is Unemployment. India with huge population ranked second after China, named for severe economic problems. The Government of India (GOI) is taking many steps towards eradication of Unemployment through generating employment opportunities. But these initiatives are not enough to deal with this concern. Even private sector support in this regard is very limited. Entrepreneurship development is the best pill to tackle the issues related to the unemployment. The other economic problems like illiteracy, regional imbalances and excessive dependence on highly uncertain agriculture sector can be rightly handled through these entrepreneurial allied activities. Thus, Entrepreneurship is a potent contrivance to transform negatives into positives i.e. from problems to progress.

Here the role of Management Education in promoting entrepreneurship is obviously imperative. The scope and objectives of the management course is to encourage, assist, develop and sustain the entrepreneurial attitudes and intentions. Looking at the world scenario of management education, the contributions of this course in India is low towards converting the students into entrepreneurs. The causes may be many and different. The level of Students perception, attitude and engagement decides the entrepreneurial transformations.

The part played by the Management faculty is noticeable in promoting entrepreneurial attitude and intentions among the students. The level of involvement displayed by the teaching faculty in developing entrepreneurial attitudes among management students decides the degree of entrepreneurial transformations. Entrepreneurial learning may begins at any stage of human life but while pursuing the business management course those are shaped in the classrooms only. Here the teachers are compared as change agents. If they are keenly interested in promoting entrepreneurial activities then the same kind of reflections can be found from the students. Management students spend their most of time in the classrooms along with the faculty. Thus, there is a liaison between management faculty and entrepreneurial attitudes of management students.

Entrepreneurial Attitudes possess a dynamic affect on individual’s choice of career. The origin of entrepreneurial attitudes improvises the entrepreneurial behavioral intentions and generates a tendency on the way to entrepreneurial transformations. These entrepreneurial attitudes are developed under different conditions exists in the individual environment. The environmental forces may be positive or negative. Optimistic environment encourages the entrepreneurship development whereas pessimistic environment disturbs and creates ambiguity. Availability of opportunities and flourishing markets attracts the individuals towards equipping knowledge, skills and abilities of an entrepreneur.

The entrepreneurial attitudes are linked with entrepreneurial intentions, particularly in perceived venture feasibility and desirability. But they may vary from individual to individual based on individual characteristics and situations. Thus, the entrepreneurial attitudes play a significant role in understanding the Student’s Attitude towards entrepreneurship.

1. a. Entrepreneurship in India

Entrepreneurship development in India reached the pinnacle in terms of Total Entrepreneurship Activity level which is close to the world average. Entrepreneurship in India is viewed as necessity cum opportunity based. Technological factors pushed the entrepreneurial growth in India. Indian society is risk averse; people usually seek secure and long-term employment. The under developed infrastructure, social attitudes, insufficient capital and lack of government support are the major factors of hindrance for entrepreneurial development in India. Being third largest GDP in the entire continent of Asia, second largest among emerging nations, still suffering from many problems in correlating with entrepreneurship development.

The Historical insights of the Indian Entrepreneurship started with an initiation of nurturing business people (ruling principle) by the Kaniskha Empire in the 1st century followed by King Rajendra Cholan, who travelled across the Indian Ocean in search of new business opportunities. Later he associated with the Pallava, Kings of Sumatra to have commercial relations with china. During 1600 A.D., India strengthened its trade relations with Roman Empire. Later Portuguese and English people entered India to do trade. India had the peak level of business opportunities and utilization in the pre colonial times. Indians began to move to many other parts of South East Asia, whereby their existence has become a historical milestone. Indians reached in Singapore during the 18th and 19th century as textile traders and spice merchants; even today there is a place called ‘Little India’, group of Indian origin entrepreneurs running businesses. Being subcontinent, India notified with its commercial and cultural treasure for much of its long past. The post-independence period witnessed an enormous shift in the Entrepreneurial philosophy. After independence 1947, India consistently performed in the entrepreneurial transition phase. Added to this 1991, new industrial policy pushed-up the entrepreneurialism moment in India. India considered as a fastest growing economy, one of the largest country in terms of foreign exchange reserves and purchasing power. Since 1991, the country has moved toward market-driven forces. Indian entrepreneurship concept has been moving by the factors like government incentives and support, effective legal framework and social legacy of doing business etc.

Unemployment rate in India is increasing at alarming rates. Under this context the Government of India (GOI), initiated many schemes and programs for entrepreneurship development. The advantage of India is its youth population. Typically the problems like lack of skilled resources and brain drain exists in India. This tendency created many new issues and challenges before the economic stability and progress concerns. Under utilization of economic resources led the situation worse. In India the entrepreneurs in most of the cases are having business family background. The first half of the 19th century witnessed a persistent change in entrepreneurial scenario of the nation. The reasons may be like new industrial policy 1991, existence of talent human capital, true diversity sense, activated venture capital functioning, increasing the number of challenge seekers, entry of global competitors, technology advancements, flexible market system, customer needs, focus on entrepreneurship education, infrastructure development etc.

The late sixties and early seventies witnesses a few transformational attempts to create entrepreneurs from nontraditional communities with a view to breaking the monopoly of the dominant groups and diversifying the entrepreneurial base in the country. During 1965-68, more than two thirds of institutional loans were for diversifications and expansion of existing enterprises. In 1968, the government came-up with attractive and unconventional credit schemes to encourage entrepreneurs. In the year 1970, the GOI emphasized more on entrepreneurship development programs with well designed inputs for motivating, informing and skilled entrepreneurial individuals. The total scene was changed after the announcement of 1991 new industrial policy. In the recent times entrepreneurs are enjoying the advantage of latest facilities like internet and mobile to advertise and managing customer relationships. Modern entrepreneurs are working on the base formulae “delighted customer” as the blood of the business.

Global Entrepreneurship Monitor(GEM), an international agency recognized India in the following categories of entrepreneurial scaling like Total Entrepreneurship Activity, continuous improvement in entrepreneurial activities, involvement in enhancing the entrepreneurial commitment and advantage of starting new business through attracting opportunities. Indian entrepreneurs started understanding the significance of global market entry and competing. The entrepreneurship concept is transformed into social entrepreneurship; which is focusing on rural development orientation, supporting self-employment and largely assisting the national growth and progress.

India and China have followed opposing strategies for entrepreneurship development. China’s growth has been fueled by unrestricted FDI’s , India has followed a much systemized way of treating FDI’s through supporting private enterprise by building strong internal environment. Indian legal system operates with greater efficiency and transparency than China. Indian government supports entrepreneurship by providing training and also the facilities to succeed. Innovations are entertained. Raised disposable incomes form middle class are directed correctly and entrepreneurs make the best of this by catering to various demands.

India, with its abundant supply of talent in IT, management, and R&D, has become the hot bed of outsourcing of services from all parts of the globe where companies can reduce their costs, but not their quality (If the foreign company chooses the right Indian partner). The key players in developing entrepreneurial allied activities are Venture Capitalists and Angel Investors. Government also continued its support through reducing the administrative burden on entrepreneurs and coordinating though various agencies to ensure proper distribution of resources. Indian society is implementing a more risk friendly environment when compared to china.

1. b. Management Education Issues & Concerns

Till date there are many committees which are exclusively appointed for the development of management education but the results are not so effective. The issues in management education are goes on increasing. Some of them are: Dearth of quality teachers, neglected research activities, less priority for student development programs, non-availability of course literature which is emphasized on Indian context, academia-industry gap, imbalanced accreditation and rating standards, lack of institutional transparent governing mechanisms, age old specializations, failure in developing global mindset and disparity in globalizing Indian management education.

Besides the above there are other problems such as using communication technologies in teaching methods, strengthening governing bodies at the institutions, developing student testing services, widening the perspective, inculcating business values and learning from reality etc.

1. c. Management Education - Present Scenario

The present Indian markets are looking for proactive managers. But it is all about imparting quality in management education and developing intellectual capital at large. Setting superior standards in Indian management education restores its life and soundly supports the economic and social development. At present there are 19 IIMs, 46 Central Universities, 342 State Universities and 125 Deemed Universities are operating and playing key role in management education progression. When it comes to matter of collaborations with foreign universities, few universities are materializing and supporting exchange programs with limited-time studies abroad. The 2008-09 period is considered as a golden period for the management education where the number of management colleges increased at exceptional rate. At undergraduate level BBA course is offered. The management courses are available at different modes such as residential, full-time and distance. The highly recognized specializations in MBA course are finance, marketing, human resource management and information technology management.

Management course extensively concentrates on providing knowledge on the areas such as business law, ethics, managerial economics and quantitative methods. Ready- made materials are available on all these subjects for the students to go in-detail and programmable kits are there for practicing. Every management graduate has to undertake a seven-eight weeks summer internship which is known as ‘project work’. Admissions into the course are done through various competitive tests like CAT, MAT, ATMA, XAT and ICET and tests conducted by respective universities. Along with all these short-term courses such as diploma and certification programs are available for those who are unable to access the regular degree programmes. New specializations are introduced along with conventional areas in management like operations, international business, logistics and supply chain management, retail, hospital and hospitality management etc.

Getting employment with alone graduation degree is not possible in the current market dynamics. This force is compelling the students to continue their studies by joining in post-graduation. Even the Multi National Companies are also encouraging the graduates, who are already employed in extending their educational qualifications and preferring of doing management course at PG level. Most of the companies are strictly set their entry-level qualification as Post-Graduation with specialization in management. The strong belief of the corporate world about management education i.e. which provides a right platform in developing industry oriented skills are enhancing the opportunity span of management education in India.

1. d. Significance of Entrepreneurship Education as Subject of Study

The recent times the entrepreneurship education witnessed a phenomenal progress particularly in industrialized nations. The progress indicates a positive belief on entrepreneurship education which promises the stable socio-economic and political infrastructure of the country. Governments identified the prominence of entrepreneurship in promoting economic development and needed their assistance in all the ways. This panorama enhanced the portion of entrepreneurial activities via entrepreneurship education. For example European Commission in the year 2008 officially stated the primary purpose of entrepreneurship education to ensure entrepreneurial capacity building and developing entrepreneurial mind-set among students at higher education level. It also strongly recommended the role of universities in strengthening the entrepreneurial education. The European Commission Expert Group for Entrepreneurship Education stressed the significant role of entrepreneurship education in developing sustaining entrepreneurial attitudes and behaviors. This scenario also showed the path for conventional wisdom in education sector. Entrepreneurship education programs intended to make entrepreneurs and learning, doing researches, being up to date and deciding the level of contribution to various concerns of the nation. Pittaway & Cope (2007) discussed the link between entrepreneurship education and outcomes to the nation; but highlighted the importance continuing research in the same field through integrating it to nation’s advancements. There should be continuous effort from the education experts to expand entrepreneurship education program offerings. Past studies stressed the need for doing in-depth studies in the area of entrepreneurial behavioral intentions due to ambiguous results regarding the impact of entrepreneurship education. So the present work will deal with the impact of entrepreneurial attitudes of the management students and research questions are formulated accordingly.

1. e. Role of Management Education Vs Attitude Orientation

Management education extremely concentrates on the bringing changes in the attitudinal orientation of its students. Even the classroom environment stresses the prominence of having managerial attitudes along with the learning. This education teaches the students to develop the social awareness. In simple, it speaks about serving individuals, organizations and society at large.

1. f. Attitude

The term Attitude derived from the latin word ‘aptus’ means a subjective or mental preparation for action. Attitude means a pattern of thinking or feeling about something. It indicates the inner beliefs of an individual towards environment. Attitude also reflects the outward and visible human beliefs. Attitudes decide the individual way of observing, receiving, thinking and doing towards particular phenomenon. Attitude may have a tendency to respond positively or negatively to an object say person or group or environment etc. These are learned predisposition to respond in a consistently favorable or unfavorable manner. Attitudes are learnt, they are dynamic with experience of the stimulus objects. Attitude influences the behaviors of the individuals, in fact they affects action more than knowledge. Positive attitudes specifically place an enthusiastic environment and it makes the individuals to work efficiently and to tackle the things in a right spirit. Negative attitudes create disinterest and may cause for the major destructions in the individual’s environment. Attitudes are not inherent characteristics, because they appear due to a person’s degree of adoption through social interaction. Attitudes can be used to understand and judge the person’s behavior at different situations. Attitude is an inner part of individual feelings and emotions. Individual actions are guided and directed by this attitude. Attitude has two basic features namely one is valance (it can be positive or negative representing favorable of unfavorable) and another is intensity (strength and weakness depending upon variance from high to low degree). Attitude is typical term which has no single meaning justification and definition to explain its complete nature. However, Encyclopedia Britannica defined the term ‘Attitude’ as does not have any precise technical meaning when used to describe human beings psychologically.

2. Research Methodology

This research is aimed to study the Entrepreneurial Attitude of the management students, scope of management education and teaching faculty in transforming the student’s attitude effectively towards entrepreneurship. The present research raises and attempts to address various critical issues involved in the scenario of transforming the management students into entrepreneurs which carries a national importance in terms of economic prosperity and sustenance, and socio-economic prominence of entrepreneurship with respect to Management education system and career-employment opportunities.

2. a. Statement of the Problem

Attitude towards entrepreneurial activities are decisive in terms of accepting issues and challenges prevailed in entrepreneurship profession. This couldn’t be taken as micro issue. Basically the individual attitudes result in behavioral outcomes. So, there is optimum level of impact on becoming entrepreneurs by these attitudes. Observing, understanding, assessing and managing those entrepreneurial attitudes probably gives positive results. There are many factors such as management education system, mentors approaches, faculty sensitiveness towards entrepreneurship development, student’s socio-economic background, entrepreneur’s level of involvement and behavioral tendencies etc in the process of transforming a student into an entrepreneur.

Therefore, the student attitude formation process rests with all those influencers. Management students face a typical phase with the attitude towards entrepreneurship during the course study. In such a point of time they may take decisions positively or negatively which are purely based on tendencies. If it is negative, then these effects country’s progression at many levels like increased unemployment rate, under utilization of human resources, uncontrollable poverty levels and regional disparities etc. Student’s attitude towards entrepreneurship determines the degree of becoming an entrepreneur. The entrepreneurial advancements rely on developing a positive concern with regard to entrepreneurial allied activities. Entrepreneurship is considered inheritance trait of a management graduate. All these may become possible through only understanding and adapting positive entrepreneurial attitudes.

This panorama presents many questions such as to what extent the entrepreneurial orientation affects attitudes of the students? How the present management education is addressing critical entrepreneurial issues? Does teaching faculty effectively contributing towards student’s entrepreneurial transformations? How demographics matters in developing and sustaining entrepreneurial attitude among management students? Hence, it is crucial to study all these dynamics in tackling the entrepreneurial attitude conception. In particular, Y.S.R district of Andhra Pradesh is one of the backward districts in Rayalaseema region having almost all the socio-economic problems. So, this study is considered to address all these mentioned concerns with a broader perspective of entrepreneurial attitude orientation.

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Excerpt out of 44 pages

Details

Title
Impressions of Entrepreneurial Attitude on Entrepreneurial Progression
College
Yogi Vemana University  (Yogi Vemana University)
Course
Ph.D
Grade
Awarded
Author
Year
2016
Pages
44
Catalog Number
V432588
ISBN (eBook)
9783668763227
ISBN (Book)
9783668763234
File size
778 KB
Language
English
Notes
The prime interest of the research is to add knowledge in the field of ‘entrepreneurship development’ along with highlighting various informative findings, implementable suggestions, assisting students towards taking entrepreneurial activities by managing entrepreneurial attitudes and to remain the study as a starting for further investigations in this arena. Hence, the present work is mainly focused on understanding and measuring the entrepreneurial attitude of management students.
Tags
Entrepreneurship, Attitudes, Management Education, Management Teaching Fraternity, Entrepreneurial Attitude Orientation
Quote paper
Dr Viswanath Juturu (Author), 2016, Impressions of Entrepreneurial Attitude on Entrepreneurial Progression, Munich, GRIN Verlag, https://www.grin.com/document/432588

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