Transforming India through innovation driven entrepreneurs

Q. Can an individual be trained to be an entrepreneur? If yes, then how? 10 marks

4 thoughts on “Transforming India through innovation driven entrepreneurs”

  1. Entrepreneurs are those who run a business by taking a decent amount of risk. Entrepreneurs have certain recognisable traits like- high optimism, charisma , high on achievement motivation, leadership qualities, professional know-how,etc.

    Entrepreneurs can be trained using a combination of many techniques. Some of them entail-
    1. Training for achievement motivation, where individuals are trained to expect more and not settle for ‘peanuts’.(McClelland)
    2. Vicarious learning using role models.Ex: one can learn to overcome failures form the founder of Alibaba(Jack MA) who overcame extreme failures.
    3. Assertiveness training to withstand pressures of hard times.
    4. Skill development and vocational training is needed for the person to be a good manager. A manager has to familiar with the job of the lowest personnel to maintain the efficiency of the firm.
    5. Sensitivity training, for managing people for diverse backgrounds.

    Finally, experience is the key to success.An entreprenuer has to constant ups and downs in business and personal life. And first hand experience will propel one towards glory as no one is a born-entrepreneur.

  2. Individual differences in people make some people venture into entrepreneurship while others don’t. The environmental factors can be definitely worked upon to encourage a person to be an entrepreneur.

    The differences in values in child rearing practice is a major factor for this behaviour. Value motivates, eg Materialism as in protestant ethics. McClelland and Max Weber studies support it.

    It is said that dreamers are achievers.This value can be internalised in early childhood through values. Kakinada case study which was based upon giving training to set a goal for achievement drive showed that it led to significant difference. Further fantasy training can be given ie, visualise and then actualize- images acting as motivator. People can be helped out to set a goal, analyse the resources and then mobilise the resources to achieve the goal. Once the goal is clear, a path to achieve it can be penned down(goal and path consistency).Performance goal should be set rather than outcome goal. Further people can be trained to believe in internal locus of control and the bar for extension motivation can be raised through more friendly government intiatives as more growth scope will be seen and more people will be attracted towards entrepreneurship.

  3. Entrepreneurship is neither a science,nor an art.It is a practice.So, it is very much acquirable by proper training.
    As we know practice makes a man perfect we can also be a good entrepreneur by inculcating goal oriented and cognitive based thinking through some achievement motivation training like-
    * by setting a achievable goal based on available resources and competency helps a person continuously striving for it.
    *feedback hepls in maintaining consistency in efforts(McClleland)
    *the attitude of risk taking i.e entrepreneurship results best when your motive has congruence with –
    -demands of reality
    -stronger self image
    -cultural values
    E.g-with the help of religious text like Bhagvad Gita says “Do thy duty without concerning about results.”
    *”Dreamers are achievers” . A person who can imagine something must have that thing.few steps need to be followed for this
    -conceptualize your motives/goals
    With the help of your own evaluation of TAT scores
    -convert your goals into action
    By initiating work on project or collecting information etc
    -apply motives in real life
    Startups can be a good example of it.
    By learning from others experiances and case studies like story of vijay shekhar sharma founder of paytym.

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