CHPATER-VII

CHAPTER VII

Summary Findings, Conclusions And Suggestions

I n this final chapter, an attempt iq made to summarise the

findings, draw conclusions and state suggestions for promoting

entrepreneurship through education,

Significance of the Study:

No country can ignore the development of entrepreneurs as i ts

economic development invariably depends upon the quantity and

quality of entrepreneurs emerging in its economy. The plans for the

development of entrepreneurs are to be devised not only on the basis

of a thorough understanding of concept, sources, characteristics and

factors influencing successful entrepreneurship but also through

understanding of supply of potential entrepreneurs.

From various researches, it is clear that the key factors that

define entrepreneurship are innovation, risk taking, &ordination and

profit making. Entrepreneurs emerge from individuals with atavistic

will to power (Schumpeter), with high n-achievement (McClelland),

model personality shaped by society's cultural values, role

expectations and social sanctions (Cocharan), and from those who are

influenced by SOC~O-psychol~gical factors, entrepreneurship training

and market opportunities (Kilby). Entrepreneurs are deviants by social

structure, economic rewards and availability of opportunities (Kunkel).

The views as such suggest that entrepreneurs are not only born but

also made. Another argument is that groups are the main sources of

entrepreneurship. Society influenced by protestant ethics and culture

(Weber), distinctive groups experiencing status withdrawal (Hagen),

relative subgroups experiencing deviant views (Young), groups

performing entrepreneurial activities (Harbison) and culturally

marginal groups (Hoselitz) become the sources of entrepreneurship.

The personality characteristics of entrepreneurs include n-

achievement (McCelland), innovativeness (McCelland, Cochran),

responsibility (Du Wors), decision making ability (Harbison,Hoselitz),

ambition (Forbes, Barlett), tough-mindedness, confidence, flexible,

tactical and strategic (Baty), determination and concentration(Barlett),

Creative(Hagen), foresight( Kirzner), and capacity to withstand social

rejection (Schumpeter).

Profit is a motive of entrepreneurship (Adam Smith, Mill, Knight,

kilby, Marshall). However other motives like, the will to found a private

kingdom (Schumpeter), the need for achievement (McClelland), social

expectations (Adam Smith, Kilby), religious expectations, social

interest a t large, solidarity with group (Weber) and self-view of

expectations (Cochran) are also identified.

It is also established that entrepreneurs are a special category of

persons who are not only born but also shaped by various factors

other than genetic l ike culture, religious, social, economic and political

which are dynamic, Obviously, influenced by these viewpoints,

entrepreneurship development has become a major aspect of national

development plans in several countries. India is one among them.

Faced with problems of limited supply of entrepreneurs, the

Government of India took measures to increase the supply of

entrepreneurs. The measures include- enunciation of various policies

t o promote industrial development, setting up of support

oraganisations and creation of entrepreneurship development

organisations. Of late, the view that entrepreneurship should be

promoted through education is gaining ground.

Research Questions:

I n l ight of the emerging view of generating entrepreneurship

through the process of education, the following questions arise.

(i). I n India, who are becoming entrepreneurs and when?

(ii). What are the experiences of EDPs i n India?

(iii). Can education play a key role in developing

entrepreneurship?

(iv). To what extent the present education system is contributing

to the promotion of entrepreneurship?

(v). What kind of new educational interventions are necessary?

At what level?

Indian Experience:

Who are becoming entrepreneurs and when? From various

studies in India, it is evident that the sources of entrepreneurs were

first l imited to trading communities like Parsis (Larnb,Guha),

Gujaraties (Lamb,Pandit), Nattukotai Chetteiars (Shoji), Bengalies

(Kling ) etc., families/groups affected by changes in social

structure(James 8erna) and individuals with high n-achievement. The

entrepreneurs are initiating their enterprises at the age between 26

years to 30 years (Murthy, Madhu Murthy).

What are their personality characteristics? From the various

research studies in India, the important characteristics of

entrepreneurship are confidence, perseverance/determination, energy,

resourcefulness, need to achieve, flexibility, creativity, diligence and

ability to take calculated risks (IIM-A, IIM-8, Akhouri, Christopher,

Gaikwad and Singh).

Are entrepreneurs a special class of people? Comparative studies

in India have also established that entrepreneurs are :- special class of

people compared to men in general; they are higher on scales in need

for achievement, independence and leadership (Hernady and Aboud).

Entry into enterprises requires a set of skills, motives and social

background while entrepreneurial competence requires another set

(Owen and Nandy).

What are the influencing factors for the choice and development

of entrepreneurship? Earlier studies have identified some factors

influencing entrepreneurship development. They are categorized into

motivating factors, compelling factors and facilitating factors (Murthy,

Chandra Sekhar and Gangadhara Kao). Motivating factors are business

connections (Lamb, Shoji, Sing h),desire to lead an independent career

(Sharma, Christopher, Ashis Gupta, Madhumurthy), Status given to

business (Pandit, kling, Deshpande, Madhu Murthy), motivated by

family members/friends/relatives (Deshpande, Singh, Pannalal,

Murthy, Madhu Murthy), making money (Gaikwad and Tripathy,

Madhu Murthy). The compelling reasons leading to entrepreneurship

are making use of technical or professional skills (Milton Singer,

Sharrna, Deshpande, Christopher, Murthy, Madhu Murthy),

unemployment (Guha, Murthy and Madhu Murthy), make use of ideal

funds (Milton Singer, Gaikwad, Deshpande, Nafziger). Facilitating

factors leading entrepreneurship are control over managing agencies

(Lamb, Murthy). Previous experience (Milton Singer, Sharma,

Christopher, Lakshman Rao, Sukpal Singh), success stories of

entrepreneurs (Murthy, Gangadhar Rao, Chandra Sekhar), EDPs

(Akhouri,Singh,Asthana,Patel,Zutshi,Pathak) and support systems

(Patel ,Desingu Setty, Ajit Kanitkar).

What are the experiences from EDPs i n India? The experiences

reveal the need for designing selection methods of entrepreneurs to

assess social background, personal qualities and technical abilities of

individuals (Ashari Mohinuddin), need for developing enterprising

indexes (Vinayshil Guatham), understanding cultural values (Prayag

Mehta), personality characteristics, goals and ambitions t o choose

Persons and design programmes for their development (Udai Pareek

and ~andkarn i ) . It is observed that training is necessary for not only

potential entrepreneurs (Gnana Kannan) but also for others associated

in promoting entrepreneurship and enterprises. The EDP should be an

integrated one including skill development, person development and

project development ( Patel, Zutshi, Shah and Venkatesawra Rao).

They are to be adjusted to the milieu of society (Chattopadhaya).

The problems i n entrepreneurship development are classified as

individual, group and institutional (Desingu Setty). Poor involvement

of trainers and institutions (Patel, Ajit Kanitkar), faulty selection of the

place and people (Patel), and improper inputs and insensitive human

components in support systems are factors responsible of failures o f

EDPs. Careful selection of trainees, individual specific counseling and

coordination of support orgainsations is essential (Patel). Obviously,

EDPs are playing only a part role in entrepreneurship promotion.

Can education play a key role in developing entrepreneurs?

Economists have long been aware of the importance of education i n

the development of human resources (Adam Smith, Simon Kuznets).

Edward McMullan emphasized that entrepreneurship education

positively enhances entrepreneur's degree of success,

The Committee on Development of Small and Medium

Entrepreneurs (1975) observed,. "Education is not for 'relief' but for

'release' of potential resourcefulness in man. Education is not to make

people wealthy bu t productive, to make people an asset and not a

liability. As such i n developing economy with egalitarian objectives, the

environment for entrepreneurship should not depend upon hereditary

factors. The educational system should give the necessary base in

order t o equip child to benefit from entrepreneurial opportunities i n his

career".

Efforts in the direction of introducing entrepreneurship

education began way back in 1954. Eugen Staley introduced i n 1954

success stories of entrepreneurs in school curriculum. Further thinking

on this continued i n the lines of introducing entrepreneurial education.

E.G Parameswaran: (1980) advocated three types of approaches t o

education for entrepreneurship: (1). Individual approach, (2). Social

approach, and (3). Group approach. According to him, individual

approach integrates entrepreneurial education with the general

education, while the social approach is directed at stirnulatory

campaigns i n the society at large, and the group approach underlines

support and training to target groups. He opined that, though the

three approaches may have to run parallel for some t ime to come,

they should be integrated into a planned movement for

entrepreneurial education. Robert E. Nelson and Robert G.Nguiru8

(1987)~ discussing entrepreneurship education, suggested that

entrepreneurship programmes, though initially started at the collegiate

level, mus t eventually be integrated into all educational programmes

at all education levels. Umesh C.Patnaika (1994) reported that i n

Canada t he ideas of business and entrepreneurship are instilled even

in the minds of kids of kindergarten.

In t he l ight of the EDP experiences and the emergent view

emphasising need for education interventions, the focus of the

attention of the researchers, policy makers and entrepreneurial

agencies is on the need for finding differences between entrepreneurs

and potential entrepreneurs and structuring educational interventions.

In this context, it is observed by many that college students can be

developed into potential entrepreneurs with proper awareness and

motives. This emphasises the need for grooming entrepreneurial

Personalities of the students during the different stages of education.

Research Problem: What are the differences between the students

and entrepreneurs? HOW can students be developed into potential

entrepreneurs by means of educational interventions?

Objectives:

The objectives of the study are:

( i ) . To identify the demographic profile, life-style, personality traits,

influencing factors i n the choice of occupation of students and

entrepreneurs.

(ii). To compare the above profiles of students with those of

entrepreneurs and analyze the differences.

(iii). To examine the role of educational interventions in the process of

promoting entrepreneurial spirit and awareness among students.

(iv). To suggest measures to be taken by educational institutions in

orienting students towards entrepreneurship.

Hypotheses Of The Study:

H I : The perceptions of Arts, Science and Technology students are

different with regard to life style orientation, personality traits,

choice of occupation and factors influencing the choice of

occupation.

142: The perceptions of students preferring entrepreneurial occupation

are different t o those preferring jobs with regard to life-style,

personality traits and factors influencing the choice of occupation.

H3: There are significant differences between students and

entrepreneurs wi th regard to life style, personality traits and

factors influencing the choice of occupation.

Figure VII.1 shows the analytical model used for carrying

out t he study.

Findings Related to Students:

The students have a mix of various life-style dimensions. The

major ones are adventurous, achievement-oriented and home-

oriented. They work on an average, in a day for 10.99 hours. Their

leisure t ime is spent mostly in watching T.V or social family movies

and listening to radio, reading political and sports news. 'To acquire

social position' and 'to l ive as I l ike ' are their important goals i n life.

Their secret ambitions are 'to get prestigious job' and 'to enjoy happy

married life'. They present a personality of several factcr-s mix -

spiritualistic, progressive, assertive, humanistic, and material istic.

The factors promoting entrepreneurship are: success stories of

entrepreneurs, desire to gain high social status, contacts with business

people, and influence of EDPs. The inhibiting factors are: difficulties in

managing enterprises, risk involved, time demanding and financial

resources required. Elaborate findings are presented in Table VII. 1.

III. 1 : Summary Findi aspect

Socio-Econom ic Profile

Life-style

Time utilization Pattern Leisure time activity

Reading habits

Entertainment preferences

2s Related to All Studen& Findings

Many are males, forward castes, Hindus having a family of 4 members and belong to middle income group with their fathers mostly in employment. In their occupational preferences for job and entrepreneurship, the students are almost equalfy divided. The main life-style dimensions are: adventurous, achievement oriented and home oriented. The other factors are risk oriented, conservative, frustration, innovative and hame oriented. Allocation of time For work is 10.99 hours, for leisure is 5.28 hours and for steep 7.97 hours. About 59.80% spend their leisure time in entertainment activities like watching TV and movies, and listening to radio. About 40.58 % of students prefer literary activities like reading and writing and 20.77% of the students spend the leisure time in clubs, visiting friends etc. For 13.53 % of the respondents the leisure time activities are playing cards, chess, tennis and swimming. Only 7.25% respondents spend their leisure time in painting, singing and dancing. Most of the students read political news and sports news. Most of the respondent students prefer social and family movies and very few prefer crime, mythological, political and folklore movies in that order. -

Goals

Am bitions

Personality Traits

Influencing factors to seek entrepreneurship.

Factors influencing to seek job

'To acquire social position? and 'to live as I tike' are the important goals of respondent students. Other goals are 'to get rich', and 'to work for society'. The secret ambition in life of the students is 'to get prestigious jobf. 'To enjoy happy married life' is also an important ambition. 'To be a successful businessperson' is the ambition of very few students. The personality traits of the respondent students are -found to be spiritualistic, progressive, assertive, humanistic and materialistic. The proportion of each is in the . .

range of 64O/0 to 70%. Internal factom tike 'desire to lead an independent life and freedom to take independent decision', 'desire to utilize creative talents; and 'desire to earn money' and 'life ambition' are the influencing factors to seek entrepreneurship. The external factors influencing entrepreneurship are 'success stories of entrepreneurs', 'desire to gain higher statusr, 'contacts with business people' and influence of entrepreneurial devetopment programmes'. The single mast influential factor to entrepreneurship is 'skill'. Next one is 'to earn money', 'Earning money with good performance' and

'working within a stipulated timingsr are the influencing factors to take up a job. Further the difficulties in entrepreneurship, 'like managing enterprise is difficult'and 'risky', 'it demands more work time, high facilities and lot of finandal resources' are among the other influencing factors to take up job. The singte most influencing factor to prefer jobs is 'security'. 'Self interest' and 'financial problems' are the other ones in case of some students.

Differences between Arts, Science and Technology Students:

Table VII.2 presents the differences among Arts, Science and

~echnology students. The Hypothesis that examines the differences

among Arts, Science, and Technology students is as follows.

HZ r The perceptions of Ants, Science and

Technology students are difterent with regard

to life-style orientation, personality traits, Choice of

occupation and factors influencing the choke of

occupation.

Between A&s, Science and TeeChnoalogy Students

1. I Socio-Economic

;: 1 Life-style dimensions Time utilization

I pattern

Findinas Males are dominating in Technology respondents. The occupation of the fathers of Science students is business. More of the Science students belong to lower income group . More of the Arts students preferred entrepreneurship where as more of the Science students preferred job. Technology students are almost equally divided between job and entrepreneurship. Arts students are more 'innovative' than Science and Technology students. Arts students work longer than Science and Technology students. Leisure time and sleep hours are more in case of Technology students. No differences

Most of the Arts students read business news, where as Science and Technology students read political news. Most af the Science students like to read stories and camics. Relatively more of Science and Technology students read sports news than Arts students. Relatively most of the Technology students prefer mythological and crime movies besides social and family movies, when compared to Arts and Science students. Arts and Science students than to Technology students prefer political movies. Arts and Science students prefer folklore movies to Technology students. 'To acquire social position' is an important goal ta more of the Arts students than Science and Technology students. 'To live as f like', is an important goal for Science and Technology students. Arts and Technology students are showing more interest in 'working for society' than

: Science Students. The secret ambition of the Arts students is 'to be successful business persons' along with ' to hold prestigious job'. 'To enjoy happy married life' is the secret ambition for the Technology and Science students along with ' to hold prestigious job'.

, No differences. Rank correlation indicates similar rank ordering by

Arts, Science and Technology students. However mean differences exist in respect of certain items. Arts students when compared to Science students have higher influence by factors like - 'success stories of entrepreneurs'. When compared to Technology students, relatively higher score is found in case of 'desire to utilise creative talents'. Only two items wield more influence on Technology students than Science students. They are 'success stories of entrepreneurs' and 'contacts with business people'.

The single must influencing factor of Arts students is 'ambition', and of science students is 'skill', for Technology students i t is a 'desire to lead an independent life'.

5. ~eading habits

6. Entertainment preferences

7.

8.

9. 10.

Goals

Ambitions

Personality traits Factors influencing to seek entrepreneurship

Life-style:

The differences in the mean scores among Arts, Science and

Technology students are tested with the help of Z - statistic. Arts

students differed with Science and Technology students in case of

innovative factor. They are more innovative than the other two groups.

But in case of all other factors, statistically there are no significant

differences. Between Science and Technology students the differences

are very less. They are statistically not significant.

Personality Traits:

Out of the 25 factors, on only one trait the perceptions of Arts

and Science students are different. The differences in mean scores are

statistically significant at 0.05 level.

Science students are influenced more than Arts students by the factors like 'iot of competition to perform entrepreneurship', 'entrepreneurship won't permit to spend with family', 'I like to work within stipulated timings', 'don't find a good opportunities and avenues to start business'. Between Science and Technology students there a re no differences. Differences exist between Arts and Technology students. Factors having more influence on Technology students are: ' I like to work within a stipulated times', 'lack of confidence to start business', 'don't Find good opportunity and avenues to start business'. The single most influencing factor is 'security' for Arts and Science students and 'self interest' for Technology students,

1 . Factors influencing to seek job

Arts students are more sympathetic than Science students.

Between Arts and Technology students, differences are statistically

significant for six traits out of the 25. Arts students are achievement

oriented, sociable, sympathetic, and talkative and wealth oriented,

with more init iative than Technology students. The perceived

personality traits of Science and Technology students are t he same.

None of the mean score differences are statistically significant a t 0.05

level.

Factor analysis of personality traits has yielded five factors. The

examination of the differences in the means of personality factors

reveals that there are no significant differences among Arts, Science

and Technology students.

Choice of Occupation:

The occupational choices of Arts, Science and Technology

students are statistically significant. More of the Arts students

preferred entrepreneurship where as more of the Science students

preferred job, Technology students are equally distributed between job

and entrepreneurship.

Factors influencing choice of occupation:

Entrepreneurship:

Arts and Science students differ in respect of 4 fabors, Science

and Technology students differ in case of 2 factors and Arts and

Technology students in case of 3 factors. Compared to Science

students, Arts students are more influenced by 4 factors viz.,

1 .Success stories of entrepreneurs,

2.Contacts with business people,

3. Desire to utilize creative talents, and

4.Desire to lead an independent life and freedom to take decision.

When compared to Technology students, it is found that the Arts

students are more influenced by three factors Viz.,

1. Desire to utilize creative talent,

2.Life ambition, and

3,Desire to lead an independent life and freedom to take decision.

I n comparison to Science students, the Technology students are

more influenced by

1.Success stories of entrepreneurs, and

2.Contacts with Business people.

The rank correlation coefficients are 0.86,0.88 and 0.64 for (Arts

and Science), (Arts and Technology) and (Science and ~echnology)

students respectively. From this, it can be said that the rank ordering

is same for all the students.

Job:

Differences between Arts and Science students exist in case of

four factors and between Arts and Technology students i n case of two

factors. There are no differences between Science and Technology

students.

The four factors which have more influence on Science students

than Arts students are:

1.Lot of competition to perform entrepreneurship,

2.Entrepreneruship won't permit me to spend with family,

3.1 like to work within stipulated timings, and

4. Don't find good opportunities and avenues to start business.

The two factors, which have more influence on Technology

students than Arts students are

1.1 like to work within stipulated timings and

3. Lack of confidence to start business.

The lack of major differences in the perceptions regarding factors

influencing choice of job of Arts, Science and Technology students is

corroborated by rank correlation. The coefficients are 0.79, 0.93 and

0.87 for (Arts and Science), (Arts and Technology) and (Science and

Technology) students respectively.

From the above presentation, it can be said that, there are

certain differences in the choice of occupation and the factors

influencing it. Some differences are evident in case of personality

traits. As such, the hypothesis-Hl of the study cannot be rejected.

Differences Between Students seeking Job and Students

seeking Entrepreneurship:

The differences among students Seeking entrepreneurship

and students seeking job are shown i n the Table VII.3. The hypothesis

that examines the differences between students seeking

entrepreneurship and students seeking job is as follows.

H2: The perceptions of the students preferring

Entrepreneurial occupation is different to those

Preferring jobs with regard to life-style orientation,

Personality traits and factors influencing choice of

occupatjons.

profile entrepreneurship seekers are in em ployrnent and business. Most of the job seekers are from Science; where as most of the entrepreneunhip seekers are from Arts. Technology students prefer equally entrepreneurship and job. In all other factors entrepreneurship seekers and job seekers are showinq the same pattern.

Life-style Entrepreneurship seekers are significantly differing to job seekers in the factors 'achievement orientation' and 'adventurous'. Their means scores for the above factors are higher.

Time utilization Entrepreneurship seekers are allocating more time pattern for work than lob seekers.

/ 4, 1 Leisure time I No differences. 1

* Ambitions

5.

6.

seekers like political movies., No differences. For most of the students preferring

activity Reading habits

entrepreneurship 'to be a successful business person' is their ambition. For most of the students preferring job 'to enjoy happy married life' is the

More of the Entrepreneurship seekers like 'sports news' and 'business news' than job seekers.

am bition. Entrepreneurship seekers are more spiritualistic than job seekers. When individual traits are considered on 13 traits entrepreneurship seekers are significantly different at 0.05 level from job seekers. As such it can be said that entrepreneurship seekers possess more of the following traits - co-operation, fame orientation, firmness, optimism, love for peace, religious, faith, self-confidence, self-expression, sentiment, sincerity, sociability, sympathy and talkativeness.

Entertainment preference

Relative to job seekers, entrepreneurship seekers like mythologicat, crime and folklore movies. Most of the job seekers compared to entrepreneurship

Life-style:

The life-style factors of the students seeking entrepreneurship

and job are anaiysed. It can be observed that entrepreneurship

seekers are more achievement oriented and adventurous than job

seekers. The differences in the mean scores are statistically significant

at 0.05 level. I n all other factors, the mean score differences are not

significant.

Personality Traits:

The mean differences of 25 personality traits of respondent

students are tested. There are statistically significant differences

between job seekers and entrepreneurship seekers in respect of 13

traits. The factor analysis yielded 5 factors of personality. The

perceived personality of job seekers to entrepreneurship seekers is

compared. Entrepreneurship seekers are more spiritualistic than job

seekers. I n resped of other factors, their perceptions are similar. As

such, there exist differences in the perceived personality of the two

different student groups,

Entrepreneurship seekers are more influenced by 'contacts with business people', 'owing to lack of job opportunity'. 'Desire to lead an independent life and freedom ta take decision' has more influence on job seekers. 'I can earn more money with good performance' is having more influence on job seekers than

10

11.

choice 1 entrepreneurship seekers.

Factors influencing to entrepreneurship choice

Factors influencing to job

Factors Influencina Choice of Occupation:

Differences exist on three factors out of the 12 factors. "Owing

to lack of job" and "Contacts with business people" are the factors,

which have more influence on the entrepreneurship seekers than job

seekers. "Desire to lead an independent life and freedom to take

decision" is the factor, which has more influence on job seekers,

compared to the entrepreneurship seekers.

I n case of factors influencing preferences to job, difference

exists in case of only one factor. "I can earn more money with good

performance" has more influence on the job seekers. The mean score

difference is significant a t 0.05 level.

From the above discussion, it is clear that there are differences

between job seekers and entrepreneurship seekers in case of

personality traits and factors influencing occupational choices. Hence

the hypothesis- HZ of the study cannot be rejected.

Findings Related to Entrepreneurs:

Most of the respondent entrepreneurs are males, aged between

25 to 40 years. They are forward caste, Hindus, urbanities and sons of

businessmen. Their family size is 4 and annual income is above

RS one lakh per annum. They are educated in Science and Technology

disciplines. By life-style, they are adventurous, and achievement

oriented. They spend 12.38 hours for work 4.68 hours for leisure and

6.94 hours for sleep on an average in a day. Most of them prefer

watching TV and social and family movies. They mostly read political

news.

The life goals of most of the entrepreneurs are 'to acquire

social status' and 'to get rich'. Their ambition is 'to be a successful

business person'. By personality, entrepreneurs are progressive,

assertive, spiritualistic and humanistic. They have become

entrepreneurs influenced by "life ambition", "contacts with business

people", "desire to utilise creative talents", "desire to gain higher social

status", "desire to earn money" and influence of EDPs. The summary

findings related to entrepreneurs are given in the Table VI1.4.

S.No Aspect findings 1. Socio-economic Most of the entrepreneurs are males, aged

profile between 25 to 40 years, forward castes, Hindus, urbanites and sons of businessmen. Their family size is 4. They belong to income strata of abcrve RS. One lakh per annum. They are educated in Science and Technology disciplines.

2. Life-style Entrepreneurs are more adventurous, achievement orientated, risk oriented and home oriented. -

Time utilization Entrepreneurs spend f 2.38 hours for work 4.68 pattern hours for leisure and 6.94 ~ Q U E for sleep.

Most of the entrepreneurs prefer entertainment activities like watching TV and movies etc. Some of the entrepreneurs spend their leisure time in literary and recreation activities. Very few of the entrepreneurs prefer arts and social activities in leisure time, Most of the entrepreneurs read political news. Few of the entrepreneurs show interest in business news and sports news. Most of the entrepreneurs like social and family movies, Some of them like political movies. Very few like mythological and crime movies,

4.

5.

6.

Leisure time activity

Reading habits

Entertainment preferences

7.

8.

-

9.

10.

Goals

Ambition

Personality traits

Factors f nfluencing Entrepreneursh- ip choice

The life goals of the entrepreneurs are 'to acquire social status' and t o get rich'. Very few entrepreneurs reported 'to live as I like' and 'to work for society' as their goats in fife. The primary ambition of entrepreneurs is 'to be a successfu'ul business person'. The next one is 'to enjoy happy married lifef. Personality of entrepreneurs is defined by spiritualistic, humanistic and progressive- assertive.

The most important influencing factors as perceived by the entrepreneurs are 'life ambition', 'contacts with business people', 'desire to utilize creative talents', 'desire to gain higher social status', 'desire to earn money: 'success stories of the entrepreneurs' and 'influence of the entrepreneurial development programmes'.

The single most influencing factor for occupational choice as reported by entrepreneurs is 'to get social status'. For some of the entrepreneurs 'to get money* and 'to get self satisfaction' are the influencing factors in their occupation.

Differences between Students and Entrepreneurs:

The summary findings are presented in the following Table VII.5.

Hypothesis -111, which tests these differences, is given as follows.

H3 - "There are significant

differences between the students and

entrepreneurs with regard to life-sfyle

orientation, personality traits and factors

influencing the choice of entrepreneurship as

the occupation ". "able VII, 5. Difierewces Between Students and Entrepreneurs

S.No

1

2.

3.

Asped

Socio

economic

profife

Life-style

Time

utilization

pattern

Findings

Most of the entrepreneurs are from business families and possess higher income status relative to students.

The other socio- economic aspects are same.

There is no significant difference at 0.05 level in the

life-style of entrepreneurs and students. The same is found to be true in case of comparison of entrepreneurs

with the student's discipline - wise and entrepreneurs

with students occupation chaice- wise, except in Arts

students. Arts students are more InnovatEve than

entrepreneurs.

Entrepreneurs are spendtng more time than students

for work. Students are spending more time far sleep

when compared to entrepreneurs. Time allocated for

leisure is same in case of entrepreneurs and students.

The perceived importance in the pattern of leisure time-

a a i v i t ~ is differing with respect to literary and social

activities. More Students prefer literary and social

activities compared to entrepreneurs.

Entrepreneurs do not read stories and comics which

students do. The other reading habits are same for

entrepreneurs and students.

4.

5.

compared to entrepreneurs.

get rich 'are important goals, where as 'to acquire social

position' and 'to live as I tike' are important goals for the

students. Relatively more students have reported 'to

entrepreneurs. Where as 'To enjoy happy married lifef is

the ambition of many students. 'To be a successful

entrepreneurs and students with respect to personality

traits. When entrepreneurs and students discipline-wise

are compared only one difference is f ~ ~ n d .

Entrepreneurs are more 'spiritualistic' than

Technology students.

Students seeking entrepreneurship possess

personality traits of entrepreneurs. But students seeking

job are significantly different in case of personality trait:

'progressive', 'spiritualistic' and 'assertive'.

Leisure time

activity

Reading

habits

Differences are found in respect of five factors out of =actors

nfluencing

:hoke of

fntrepreneur-

Ship

twelve, Entrepreneurs are more infiuenced by fa&ors like

1. Contacts with business people, and

2. Life am bition,

Students are more influenced by factors like

1. Owing to lack of job opportunity,

2. Ambition of family members, and

3. Failure in competitive examination to get a job.

Technology students differed by two factors, and

Science students by five factors, Arts students differed

by four factoi-s from entrepreneurs.

Entrepreneurs are more influenced compared to

Technology student by

1, Desire to gain high social status, and

2. Life ambition.

Compare to Science students, entrepreneurs are more

influenced by

I. Contacts with business people,

2. Desire to utitize creative talents, and

3. Life ambition.

And less influenced by

1. Owing to lack of job opportunity.

2. Failure in competitive examination to get job.

In comparison to Arts students, entrepreneurs are

more influenced by

1, Contacts with business people,

And less influenced by

1.5wing to the lack of job opportunit~,

2. Ambition of family members, and

3. Inspiration of relatives and friends.

Compared to entrepreneurship seekers,

1. Contact with business people.

2. Desire to earn more money.

3. Desire to utilize creative talents.

4. Life ambition., and

5. Desire to lead an independent life and freedom to

And less influenced by

1. Owing to the lack of job opportunity.

2. Am bition of Family members, and

3. Failure in competitive examination to get a job

When job seekers are compared with

entrepreneurs, entrepreneurs are more influenced by

I. Contacts with business,

2. Ambition of family members,

3. Desire to gain higher social status.

4. Desire to utilize creative tatents, and

5. Life ambition.

And less influenced by

1. Owing to the lack of job opportunity and

Life-stvle:

The mean score of the eight life-style factors and the results of

test of differences in the mean values are tested. I t is found that there

are no significant difference between the students and entrepreneurs

at 5% level.

personality traits:

The five factors derived by factor analysis of 25 personality traits

and their mean scores. The Z statistics indicate that there are no

significant differences between students and entrepreneurs.

Influencina factors:

The mean scores of students and entrepreneurs have been

compared for each of the 12 factors that have influence on choice of

entrepreneurship as an occupation. Out of 12 factors, on 5 factors Z

test has revealed statistical difference at 5% level of significance. I n all

other factors there are no significant differences.

From the above discussion, it can be said that with regard t o life-

style and personality traits the stated hypothesis- H3 of the study is

rejected.. However, differences are observed in case o f factors

influencing entrepreneurship choice. It can therefore be concluded that

with respect to factors influencing choice of occupation, the hypothesis

- H3 stated is accepted.

Existing System of Education and Entrepreneurship:

The role of existing system of education is examined with

reference of the following questions.

Are there courses on entrepreneurship in the selected

educational programmes at PG level? What is the content of these

courses? I s it adequate to promote entrepreneurial spirit, knowledge

and skills?

Among the selected post graduate programmes the following

have entrepreneurship courses M.B.A., M.Sc (Home science) and

B.Tech. Other courses viz., M .Corn, M.A.(Economics), M.Sc

(Computers), M.C.A. and B.Phramacy do not have such courses.

The extent to which course is contributing to the promotion of spirit,

skills and knowledge of entrepreneurship is anlaysed in Table VII.6.

Obviously, the course content in M.B.A., B.Tech of S.V.U., M.Sc (Home

science) of S.P.M.V.V is contributing much to the development of

spirit, skills and knowledge. Comparatively the course in B.Tech has

less practical orientation in developing entrepreneurial spirit and skill.

MBA SPMVV

Management 6.Agro Industrial 1 -

I J

M.Sc (Home science) SPMVV B.Tech, SVU

J

and Small Business

Entrepreneurship J 3

Development

As, there can be gap between intention of the systems

established and outcomes obtained; students are contacted t o know

the entrepreneurship awareness. The following are the findings:

(i). Very few students have obtained awareness by curriculum at

Degree and PG Degree level. They did not have awareness at school

(ii). Very few students are stated that they have got awareness

outside curriculum from teachers through seminars, conferences

etc.

(ii) Very few students are benefited by library a t only Degree and

PG Degree level.

E x p e ~ s are contacted to know their views on effectiveness of

present education and entrepreneurship training programmes and the

improvement necessary in both. Their views are summarized and

stated below. Table VII.7 presents these views in brief.

1.There are good prospects for students desirous of becoming

entrepreneurs only if they are really interested.

2. Entrepreneurial orientation is very less among Degree and PG

Degree students.

3. I t is necessary to bring over all approach to bring in complete

awareness of entrepreneurship. It requires two pronged approach. One

is teaching entrepreneurship as a part of curriculum and second is

training through EACs and EDPs.

4.EACs and EDPs are partly successful because of the participants. The

reasons are lack of real willingness to pursue entrepreneurial career,

lack of proper business idea, dependency for business idea, passive

participation and poor feedback.

5.The general suggestions for improving the climate of

entrepreneurship are: Government agencies supportive of

entrepreneurship should function like corporations. They should

evaluate and the monitor projects properly.

6.0rganisations conducting EACs and EDPs are offered the following

suggestions.

(i). Focus should be self-analyses and hands-on-

experience.

(ii). Supplement formal training with informal orientation.

(iii). Developing list of innovative projects to present to the

participants.

(iv) Conduct awareness camps before EDP.

(v) Establish rapport with support organizations.

(vi)Monitor programmes by getting feedback from

participants.

7.Education system should change orientation from job to

entrepreneurship. Entrepreneurship education can start a t home and

then at pre-school.

"r;;bgk? 'vJTJ ,7: Susnrnar Aspect

1, Entrepreneurs career prospects 2,Entrepreneurial orientation among students 3. Effectiveness of EACs and EDPs 4. Present education as promoter of entrepreneurship 5.Level and pattern of education suggested (i). Level

(ii) Pattern

! jjiehq~s st E;lpesSa Prof. ARK

Yes

Low

Partial

Less effective

Elementary school level

Provide scope for innovation; focus on experimentation or exptoratian of the new things.

Pmf. KC Yes

tow

Partial

Less effective

At home

Tales of entrepreneurship to children at school level.

Prof. Murthy Yes

tow

Partial

Less effective

Elementary school level

1 .Biographies of entrepreneurs at elementary school level.

2 .Achievement orientation at school level and t 2 level. 3. Enterprise

setting and operation at degree level.

is cuss ion and Conclusions

For having better view of the above findings, an attempt is made

to examine the findings related to entrepreneurs and to identify the

key differences between entrepreneurs and entrepreneurship seekers,

entrepreneurship seekers and job seekers, entrepreneurs and

students. The implications of such differences are also raised.

Entrepreneurs

Findings related to entrepreneurs are discussed with reference to

earlier researches.

(i) Father's occupation:

It is found that the occupation of fathers of entrepreneurs is

business. The earlier works of Nafziger, Pannalal and Deshpande

corroborates this finding.

( i i ) Ambition:

The ambition of many entrepreneurs in this study is 'to be a

successful business person'. Christopher in his study identified the

same ambition.

iii) Goals:

'To acquire social position ' and 'to get rich' are the goals of

entrepreneurs. Further they are influenced by ' the desire for

independent life'. While the economic goal is found by several studies,

the status goal is brought into l ight by the works of Pandit, Sharma

and others.

(iv) Time utilization pattern:

Entrepreneurs work hard for a longer t ime in a day. This is an

established finding in several of the earlier researches.

(v) Life-style and Personality:

It is found that, by life-style, entrepreneurs are adventurous,

achievement oriented, risk oriented and home oriented. Personality

traits include progressive-assertive characteristics in combination with

spiritualistic and humanistic properties. Similar characteristics are

identified by researchers l ike Sharma , Sukhpal Singh ,Madhu Murthy,

IIM-8, Christopher, I IM-A, Gai kwad and Akhouri. The findings are

indicative of a 'spiritualistic entrepreneur who combined achievement

and affiliation needs and the social goal 'to acquire a social status ',

with economic goal 'to get rich'. It is an attempt to depart from the

traditional desire of 'security' to 'adventure'. McClelland identified that

Indians are more affiliation oriented and less achievement oriented.

However, with the progressive changes in society, there is a shift in

attitudes. I n this study, it is found that as many as 45% of the

students are desirous of becoming entrepreneurs. This shows the

growth potential of supply of entrepreneurs.

(vi).Influences:

The factors influencing choice of entrepreneurship

occupation found in the study are similar to those identified by earlier

research works. They are: 'life ambition' (Christopher); 'business

connections' (Lamb,Shoji,Singh); 'desire to utilize creative talents'

(Murthy, Madhu Murthy, Singer, Sharma,

Deshpande,Christopher);'desire to gain higher social status'

(Pandit,KI ing,Deshpande,Madhu Murthy);'desire to earn money'

(Gaikwad,Tripathy and Madhu Murthy);'success stories of

entrepreneurs' (Murthy, Gangadhara Rao and Chandrasekar);

'influence of EDPs' (~khouri,~ingh,~sthana,Patel,Zutshi,Pathak); and

'previous experience' (Singer, Sharma, Christopher, Lakshmana Rae,

Sukpal Sing h). One interesting observation is, Deshpande and Madhu

Murthy stated 'ambition of family members' is an important influencing

factor for entrepreneurs according to Madhu Murthy and Deshpande.

But in the present study students are more infhenced by this factor

than entrepreneurs.

Entrepreneurs and Entrepreneurship seekers

Entrepreneurship seekers and entrepreneurs differ in the

following aspects.

(a). Family

Fathers o f some of the entrepreneurship seekers are in

employment.

(b). Life-style and Personality

No differences.

@#Goal

No differences.

(d). Ambition

"To be a successful business person" is the goal of

entrepreneurs. It is found in less number of entrepreneurship seekers.

"To hold a prestigious job" is the ambition of relatively more number of

entrepreneurship seekers.

@).Time utilization pattern

No differences. Entrepreneurship seekers read 'business and

sports' topics, which are less preferred by entrepreneurs.

(f) Influences

Entrepreneurship seekers are more influenced by :'owing to lack

of job opportunity', 'ambition of family members' and 'failure in

competitive examination to get a job'.

From the above differences, i t appears that while some o f the

entrepreneurship seekers are motivated to be entrepreneurs, some

others are forced to cherish the ambition of entrepreneurship. Their

secret ambition is to hold a job. This may be due to their father's

occupation (employment). However, during personal interviews some

of them have stated that job is necessary for experience to become a

successful entrepreneur, This leads to the conclusion that:

Some are genuinely interested in entrepreneurship and

some others are not.

Some are interested in holding job first and then

becoming entrepreneurs.

The questions that arise here are:

(i). kiow to make students prefer whole-hearted1 y

entrepreneurship?

(ii). How t o provide a 'substitute' for the desired

experience, so that students can straight away become

entrepreneurs?

The measures involve attitudinal changes and competency

development.

Entrepreneurship seekers and job seekers

Among the students, entrepreneurship seekers differ from job

seekers in the following aspects.

(a). Family:

Fathers of, relatively more number of entrepreneurship seekers

are in employment and business.

(b). Life-style and Personality:

Entrepreneurship seekers are more spiritualistic. They possess

more the traits like fame orientation, firmness, optimism, self-

confidence, self-expression, cooperation, sociability, sympathy,

talkativeness, sentiment, peace loving and religious faith.

(c ).Goal:

While "to acquire social position" is the common goal, "to get

rich" is the goal of more of the entrepreneurship seekers.

(d). Ambitions:

More of the entrepreneurship seekers have the ambitions:

"holding the prestigious job" and "to be a successful business person".

However, among them the second goal is found relatively i n less

number of students.

(e). Time utl isation factor:

Entrepreneurship seekers work more, read business related

topics, and see mythological, crime and folklore cinemas.

(g). Influences:

"owing to lack of job" and "contacts with business people"

have influence on entrepreneurship seekers.

From the above, it can be stated that entrepreneurship seekers

have mixed ambitions for job and business with a goal "to acquire

social position and t o get rich", influenced by their fathers who are in

job or business and other factors like "owing to lack of job" and

"contacts with business people". It implies that "father's occupation"

and "contacts with business people" have decisively influenced

students i n their choice of occupation.

The questions that arise are:

(i). How to make sons or daughters of employees decisively

interested in entrepreneurship?

(ii). How to provide opportunities for students to develop

contacts with business people?

Entrepreneurs and Students:

1.In very few but significant aspects students differ with

entrepreneurs

(a) m: Father's occupation is business for many of the

entrepreneurs but it is employment for many students.

(b). Life-style and personality:

No differences.

(c ).Goal:

"To get rich" is the valued goal for entrepreneurs but not

for students.

(d). Ambition:

"To be a successful business person" is the ambition of

entrepreneurs but not of students,

(e). Time utilisation ~ a l t e r n :

Students work less number of hours and spend more for

literary and social activities. They like mythological movies

whereas entrepreneurs like political movies.

(f) .Influences:

Entrepreneurs are influenced positively by factors like

"contacts with business people and life ambitionrJ. Students are

influenced by factors viz., "am bition of family members", "owing

to lack of job opportunity" and "failure in competitive

examinations to get a job". Hence it can be said that

entrepreneurs are influenced by positive factors where as

students are influenced by negative factors. One should take

cognizance of the positive influence of the family ambition here.

2 The role of fathers as a promoter of entrepreneurial spirit appears to

be limited. Father's occupation is business for many of the

entrepreneurs but i t is employment for many students. As such,

there is a need to find a substitute force.

3. Present education is partly successful in promoting awareness spirit,

skill and knowledge of entrepreneurs.

(i) Very few PG level programmes have entrepreneurship

courses

(ii) Entrepreneurship courses are offered to MBAs (Arts),

M.Sc. (Home science) and B.Tech. They exhibited more

awareness than others, M.A (Economics), M.Corn,

M .Sc.(Computers), M ,C.A, and B.Phrarnacy students

showed poor awareness.

(iii) Arts students have more innovativeness than others.

(iv) More of the Arts students and 50% of Technology

students have preference to entrepreneurship in their

choice of occupation.

4. Neither the outside curriculum activities nor library could provoke

entrepreneurial thoughts in the mind of students.

5 According to local experts, the EACs and EDPs are partly successful

because majority participants lacked business ideas and interest.

The above conclusions highlight that the important input

factor of entrepreneurship, the individual is not properly groomed to

be an entrepreneur. The questions that arise here are:

(i).How to create entrepreneurial aptitude in the absence of a

business parent i n the family?

(ii). How to make students have the ambition of "to be a

successful business person" and prefer the goal "to become

rich"?

(iii).How to make them prefer hard work and understand

realities of life?

(iv). How to make students evince interest in EACs and EDPs

and take part in them actively?

(v). How to promote opportunities for students to develop

'connections with business people"?

I n the l ight of above discussion, it can be finally concluded that

steps are necessary to promote entrepreneurship, which is latent and

ambivalent in students. Figure VII.2 shows the identified tasks i n this

direction. They can be stated as follows.

1) Creating occupational interest

Creating aptitude and flair for entrepreneurship, in general and

specifically i n those who are seeking entreprene~rshi~,as a c o * ~ u l s o ~

choice. As a part of it, favourable attitudes towards hard work are t o

be created.

2) Developing occupational knowledge

Knowledge of business and skills of managing it are t o be

developed. While carrying out this, through practical approach,

connections with business people are to be promoted. I t is observed

that a two-pronged approach is necessary to carry out these tasks.

( i ) . Teaching entrepreneurship as a part of curriculum

and

(ii). Training through EACs and EDPs.

Suggestions:

The following suggestions are made to promote entrepreneurship

orientation, skills and knowledge among students.

To the Designers of Educational Programmes:

The administrators of educational systems should envisage

measures that can promote entrepreneurship through curriculum and

outside curriculum . The focus should be not only individual but also

family.

l).Educational system should be changed from job orientation to

entrepreneurship promotion. The following model may be adopted.

Level - Content Result Elementary school Biographies of Spirit

entrepreneurs

Secondary school Modules on Awareness and and +2 level achievement, risk interest

taking and need for independence

Degree/PG Degree Core courses and Desire and elective courses on competencies. entrepreneurship.

While the Promotion o f entrepreneurship through

education from the school level is a strategic move, tactical measures

to encourage entrepreneurship among the present students who could

not have such beneficial education are necessary. Steps in this

direction include:

(i).Setting up of Career Guidance Cells:

A t t 2 level, the career guidance cells should be setup in

college and school. They should provide awareness among the

students that enterepreneurship is another prospective career path

after pursing their degree. This would help them to choose the

right kind of courses/prograrnrnes.

The career guidance cells should also counsel the parents,

so that the parents do not discourage their children from becoming

entrepreneurs.

ii) Traininq Teachers:

Prospects of entrepreneurship career are t o be informed

through seminars, workshops and conferences to the teachers.

They can in turn, help students through their out-side curriculum

activity.

(iii). Oraanis in~ Junior Achievement Programmes:

Junior Achievement Programmes, have been working in

USA, for many years as an educational activity, through which boys

and girls are engaged in making and selling products as an after

school activity. With the help of local business units as sponsors, a

group of students generally about a dozen, form themselves into a

company and then select their own officers and board of directors.

Since the company will operate for only a year, the products are

selected usually easily made such as, perfume, jewellery, toys or

Christmas decorations. Each member will raise the money required

for operations by selling stock to adults in the community, who are

interested i n the experiments, but a dividend is declared if the

venture succeeds. The students buy their raw materials,

manufacture, and sell their products in the open market. At the end

of the year a share holder's report is prepared and the company

dissolves itself.

To the Organisers of EACs and EDPs:

ED cells are to be started i n every college. These cells

should have network with the cells of other colleges. The cells should

plan their entrepreneurial development activities (EACs ,EDPs etc.,) in

cooperation with local business units. To make EACs and EDPs t o be

successful, the following suggestions will be helpful.

(1) Focus should be on self-analysis and hands on experience.

(2) Supplement formal training with informal orientation.

(3) Develop list of innovative projects to present to participants.

(4) Conduct awareness camps before EDP.

(5) Establish rapport with support organisations.

(6) Monitor programmes by getting feedback from participants.

To the Government:

Family ambition is found t o have influence on the choice of

entrepreneurship. As such, entrepreneurship should become an

attractive career option in society. For that, Government should take

positive steps. To promote conducive climate for entrepreneurship, the

following points may be considered.

(1) Government agencies supportive of entrepreneurship should give

up their bureaucratic style and function like corporations. They

should formulate streamlined procedure to avoid delays.

(2) Government agencies should also contribute to the course of

entrepreneurship education at college level by adopting interactive

approach with academic institutions.