Developing entrepreneurial skills

Updated on: Monday, November 02, 2009

The words like “entrepreneur” and “entrepreneurship” have been considerably debated in recent years among managers, policy makers and bureaucrats with the academic circles and institutions being no exception. Management schools lay special emphasis on various activities that serve to foster this creative spirit among the young aspirants.

An entrepreneurship development cell (EDC) was started at the Gudlavalleru Engineering College, Gudlavalleru, with the approval of the All India Council of Technical Education, Ministry of Human Resource Development.

The expert speakers dwelt on various aspects of entrepreneurship and why it is all the more relevant in the present day scenario where individuals have plenty of opportunities.

Y. Harish Chandra Prasad, chairman of the Confederation of Indian Industry AP chapter, Efftronics managing director D. Ramakrishna and other industrialists were present at the inaugural of the EDC. They referred to the latest thrust being given to the new methods of production and marketing, which keep evolving with entrepreneurial skills of the people involved.

The opening of EDCs at academic institutions points to the recognition accorded to the human factor in the production process. As a concept, entrepreneurship has become like a hat, which has lost its shape because everyone uses and does it in his or her own peculiar fashion. To introduce students to this dynamic concept, the institutes are making them to experience it practically though in a small way.

To involve B.Tech. and management students deeply in this, entrepreneurship awareness camps and entrepreneurship adventure for youth (one-day program) are being organised with active support of the college managements.

The mission of Entrepreneurship Development Cells is stated to augment the supply of industrial entrepreneurs through education and training, to produce multiplier effect on opportunities for self-employment, to improve the managerial capabilities of small scale industries and so on.

The speakers said that in 1755, Richard Cantillon used the word “entrepreneurship” for the first time to refer to the dealers who buy the wares to sell them again wholesale and retail at an uncertain price. The concept slowly evolved into a full-fledged one over the decades till it came to signify a person’s spirit in engaging in various aspects of production, marketing and industry. It has come to stand for the development of a new method of production or new way of handling a commodity commercially and the opening of a new market.

The EDP’s current scenario is very encouraging, as the importance of small and medium-scale enterprises is recognised very well for economic growth, industrial development and employment generation at a relatively low capital cost. This is seen as particularly relevant in developing countries like India.

In a small enterprise, the central figure is “entrepreneur”, who catalyses resources, risks and manages them so as to establish a viable, sustained employment generating entity.

Developing entrepreneurial skills

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