Entrepreneurship : Need of the hour
A developing country like India where around 10% is the unemployment rate, more then half of its population is below poverty line (BPL) as per ADB BPL of 2$ a day; employability has been a cause of concern for government. Proper and efficient technical education and the opportunities thereafter are lacking. Beyond IITs, IIMs and some top technology and management institutions; the quality of education has been not very satisfactory. Despite producing quality professionals, Institutions put their attention to the pomp and show. Industry- academia linkages is lacking and due to what the graduates are not able to find a satisfactory job after the completion of such professional courses like B. Tech, B.E, MBA etc. There is a huge mismatch with the industrial standards of hiring a professional and the raw graduates prepared by these institutions. The practical knowhow and attitude of today’s graduates are a cause of concern for the industry as well as the economy. According to a study, Engineers in India does not match with the international standards and their productivity is one third of an engineer from USA or UK. In this ever increasing competition, decreasing focus of government on unemployed literate youth is a major cause of concern.
Academic institutions should pay more attention towards the industry demands. Through proper communication and interactions with the industry they should not only design the course but also they should increase more practical on job trainings in curriculum in terms of internships.Time has gone when only the lectures, attending classes and attaining qualifications were more than enough for a graduate to satisfy the role profile of any company. Graduates need to be more practical, efficient and productive in the complex business environment these days.
Employment practices
Today, a peon in a government organization is paid much better than a person who is an MBA/ MA/ B.Tech etc. Unemployment and thus poverty is pushing our highly qualified graduates’ steps back and they feel very frustrated and unable to perform and sometimes they are involved in different bad and criminal activities. They have studied hard, took up all the savings of his family and what is the result, he is still standing far from getting a job. He is begging here and there to give some jobs. He queues in long line where for one post, there are more than hundred people. The tremendous pressure from family and society makes them to earn at any cost. Sometimes, some of these strugglers defeat with the situation and the surroundings and he takes the extreme step i.e. suicide. If he is able to find a job still he is not paid as per his qualification. He is exploited maximum and the job pressure takes away all his happiness and personal and social space. He becomes alone again with having a job. As per the international labour law; around 35 hours a week on an average is the criteria of working hours; but in India we work 50 hours a week usually. This is the height of the unethical and unsustainable practices in the Indian job market. Is this what one has studied and spent huge amount of money for? Those money could have been spent in some other ventures like in setting up own ventures, enterprises etc. Instead of working for others they could have worked in the sectors which suits and interests him. But now after spending so much on his education he is not able to face his family and beg for some more money.
Need of entrepreneurship environment
The societal environment needs to be more practical and entrepreneurial. Instead of finding a job an Engineer or an MBA can use his/her expertise to open up his venture, which not only provides him/her mental satisfaction but also the reward in terms of better economic gains. They would be able to generate more economic contribution to the society and also the jobs, which will enhance the inclusive growth and development of society at large. We are not able to make a bankable and feasible business plans after getting these higher studies. Then what is the utilization of the studies they have done. Instead of producing job seekers, governments, institutions should take up a stand towards making graduates job makers. Through the use of business incubators at institutions, they can also enhance their salability in the market.
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