Harnessing the Achievement Oriented Youth for Entrepreneurial Growth

Abstract

In spite of the increasing recognition of entrepreneurship as a source of job creation, empowerment and economic dynamism in a globalised world, only a few systematic attempts are made to understand it from perspective of youth. With India all set to reap the "demographic dividend", young entrepreneurs will be the backbone of economic growth. The focus of the paper is to study the motivations of the youth towards entrepreneurship. The key motivations are studied through a comprehensive literature review on what characterizes youth entrepreneurs followed by a primary research with MBA students as test units. The Key Conclusions are : a. 80% of the respondents aspired to take up entrepreneurship. Out of those 66.67% maintained that they have a high need for achievement. b. As per the study, there is no significant relation between gender and entrepreneurial desire. c. As per the study, there is no significant relation between educational background and entrepreneurial desire. d. As per the study, there is a significant relationship between a high need for achievement and entrepreneurial desire. The recommendations are Entrepreneurship was once the road, less travelled, due to host of external factors. But today, highly motivated youth pursuing MBA in India, do wish to take up entrepreneurship at some or the other time in their careers. Enterprise helps young women and men develop new skills and experiences that can be applied to many other challenges in life. For this, their education should equip them to take on the challenges and enhance their prospects to tread the new road.