Creation of Entrepreneurial Awareness by Ranked and non-Ranked Business Schools – A Comparative Study

Abstract

The concept of Entrepreneurship originated in the middle ages. However, it was only during the 1980s, entrepreneurship became popular and attracted the attention of policy makers, researchers, economists, academicians, and consultants. The first step in the promotion of any field needs the creation of awareness and entrepreneurship is not an exception to this process. The entrepreneurship education boom in the 1980s in North America, especially USA, brought many changes in the interests and preferences of those involved in entrepreneurship development. Academicians, researchers, and policy makers have tried a variety of methods to promote individual entrepreneurship by conducting entrepreneurship awareness camps, business plan contests, etc. Although these activities have been useful to a large extent in the Indian context, a major issue has not been resolved, which comprises of the identification of prospective individuals who can be educated and trained to achieve great success in individual entrepreneurship. With the 1980s, start-up became fashionable and the success stories of entrepreneurs, especially in the context of USA, have attracted the attention of academicians and researchers. Students and professionals in many parts of the world including India started evincing interest in individual entrepreneurship. Researchers started emphasising the importance of creating an awareness among various groups of individuals, especially students. One of the major sources for creating awareness about entrepreneurship has been the establishment of entrepreneurship development cell (EDC) and technology business incubator (TBI). Entrepreneurial propensity is a function of three factors, each associated with one of the relationships: (1) One's perceived level of entrepreneurial education, knowledge, and competence concerning new venture operation, (2) One's beliefs concerning entrepreneurial opportunities in the economy (i.e., financial rewards, employment, etc.), and (3) one's confidence in one's ability to access the available opportunities (i.e., self employment, risk, etc.).