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Faculties Feedback: Four Essential Ingredients in Higher Education Institutions

Prof.LAKSHMI.T Mobile No: 09448841323 Teacher Fellow, e-mail: mrs.lakshmi_t@rediffmail.com Department of Commerce, Bangalore University, Central college campus, Bangalore-560001 JAYATHEERTHA .A Mobile No: 09449149115 Lecturer, Dept.of Commerce and Mgt e-mail:jayatheertha21@rediffmail.com Kamala College of Management and Science, 450. O.T.C.Road, Cotton pet, Bangalore-560053 THIRUMALA.M 3 Semester M.Com, Dept.of Commerce Central College, Bangalore University, Bangalore-560001 Mobile No: 09845672570

ABSTRACT
In developing country like India, there are four ingredients supporting for professionalize quality education. The recent time a lot of unprecedented changes noticed in higher education. Because of globalization and consumer movement have made the higher education institutions to consider the support of market force.Altough the topics of general areas for improvement, Learning-education-assessment, Quality circles and Bench-marking practices is an abstract concepts, liable to change from time to time and has traditionally proved to be difficult to assess especially in education, with prolonged deliberation it can certainly with respect to sound measurement in higher education. There are numerous criteria on which the ingredients are gauged. Feed back given by the faculty members, who were form the largest group of stakeholders, become an

important ingredients of professionalize Indian higher education system for quality education. It is on the part of faculty members, the process of feedback needs to be made scientific. This paper is based on survey that was taken at few reputed colleges at Bangalore. This made faculties not only more forthcoming but made the exercise more objective. It includes recommendations of faculties for different ingredients. KEY WORDS Higher Educations,Institutions,Faculty Members, General Improvement, quality Circles, Bench Marking Practices and Learning-Teaching-Assessment.

Faculties Feedback: Four Essential Ingredients in Higher Education Institutions

INTRODUCTION
The Higher Education in India is experiencing a constant change in every dimension. Yet the growth achieved is far below the requirements of our country. Assuming the present rate of growth to continue, we will never be able to achieve the estimated educational requirements. Indian higher education system has to enhance access and ensure quality and at the same time promote general areas of improvement, Teaching-Learning-Assessment, quality circle and Bench marking practices. The Higher Education institutions in India are in improving state. The emerging of globalization process has forced them to prepare for the competations.The changes that are taking place in the institutional environment have created huge expectations on the part of various stakeholders who are discussing with the various institutions faculty members. In the competition environment in which the institution have to survive and grow and the increasing opportunities for institutions to grow enable the institutions to

adopt to the changing environment and also to exploit opportunities for growth and development.

Higher Education
Our university system is, in many parts, in a state of disrepair...In almost half the districts in the country, higher education enrollments are abysmally low, almost two-third of our universities and 90 per cent of our colleges are rated as below average on quality parameters... I am concerned that in many states university appointments, including that of vice-chancellors, have been politicized and have become subject to caste and communal considerations, there are complaints of favoritism and corruption. Prime Minister Manmohan Singh in 2007

STATEMENT OF THE PROBLEM

The faculty members being the main part of the institutions they require to be identified as a most important resource and accordingly find what factors are essential to make their work more challengingly to improve about quality education. Also to analyze various factors like general areas of continues improvement.TeachningLearning-Assessment, Quality circle and Bench marking practices which will enable them to work better and which could improve there higher education institution. Hence the study is all about Critical analysis on faculty members opinion over Business education at cross roads..

OBJECTIVE OF THE STUDY

To understand the areas which are mainly focused on quality education. To understand what measures should be taken while implementing higher education quality. To identify the factors that improves the constantly.

To determine the level of satisfaction Learning-Teaching-Assessment area. To identify the faculties perception over quality circles. To understand the factors supporting for bench marking practices.

SCOPE OF THE STUDY.

The relevance of this study stems from the fact that faculty members are the commodity that requires very close supervision and control. The fact is that faculty members today are seen not as a commodity but as asset of the institution. Institution today believes that every individual faculty has potential and strengthens and that human capabilities can be sharpened developed and utilized better. Faculty members opinion about four essential ingredients in higher education institutions are what the researcher has tried prove and what all the strategies to be implement to improve the higher education institutions.

LIMITATION
Any study cannot be a full proof study and some limitation or the other creeps in, in spite of advance planning and careful implementation. This study is no different and also suffers from limitations which are. Same of the responses to the questionnaires were biased and vague, thus an accurate analysis could not be done. Time constrain on the part of the respondents to fill up the questionnaire. Faculties were hesitant to give the complete information due to which the study could not be made accurate. Concept being new the researcher found difficult in the initial process: Sample details are not accurate. Sample areas are picked up from in and around of Bangalore, geographic spread is not so wider.

REVIEW OF RELATED LITERATURE

The researcher persuaded the available literature toughly understand the theoretical concepts, and the scientific principles underlying the research. This review of literature gives a glance on over all connected literature in form of books, research reports. Concept of higher education and quality education has been referred from internet and the research methodology book by Cooper and Scindler and C.K.Kothari is used for survey and questionnaire analysis. Beyond this the researcher has also persuaded various websites relevant to the topic of the study.

METHODOLOGY 1. RESEARCH DESIGN OF THE STUDY

The research methodology used is based on cluster sampling as the researcher had divided the total population into clusters or groups and there by randomly selected from the group of samples based on convince.

2. SOURCES OF GATHERING OF DATA

The primary data is gathered by direct interaction with the people of the organization by the means of questionnaires and verbal discussion. The secondary data sources are the company manuals, previous reports and company websites.

3. SAMPLING PLAN
Another step in planning the research is to identify the target population and select the sample.

The sample institution for the purpose of the study will be units, which have linked their for ingredients. Sample firms will be picked up using judgmental sampling effectiveness.

Population size
763 numbers including faculties of commerce and management, Para medical, Engineering College and nursing colleges.

Sampling frame
Faculty members of various institutions. Commerce & management Engineerin Nursin Para medical g g Total 253 165 315 30 763 28 33.16 21 21.62 39 41.29 12 3.93 100 100

Particulars Total sample No. Of respondent % of Respondents

Sampling Unit
In and around of Bangalore

Sampling size
100 faculties selected randomly.

Sampling method
Cluster sampling

Locale of the Study

Study will be conducted in Bangalore, Karnataka. The study is selected in higher educational institutions.

Duration of the Study

Study will conduct for 3 weeks.

Research Method
The proposed research study will be the analytical and empirical one. It is also based on survey method in as much as well structured questionnaires will be prepared to different

segments of the sample respondents and administered to them for the purpose of gathering primary data on the topic. To elicit further information of the topic personal interviewing of the respondents will be resorted to. For the purpose of secondary data by way of books, articles, Survey reports, magazines, journals, internet, on the topic will be considered.

Geographical Area to be covered

It is an institution specific study the area to be covered is the institution itself.

Plan of Analysis
The collected data will be analyzed with the help of statistical tools and techniques. The Para metric and non-parametric techniques will be used to analyze both quantitative and qualitative data. Average Percentage ratios dispersion, correlation, regression and the like will be utilized for the analysis purpose wherever necessary to present the data in an effective manner by use of Z test.

Hypothesis Testing:
GENERAL AREAS OF IMPROVEMENT-QUESTIONS. PLEASE STATE YOUR OPINION
1) HIGHLY ACTIVE 2) FAIRLY ACTIVE 3) MODERATELY ACTIVE 4) SLIGHTLY ACTIVE 5) NOT ACTIVE 1. Implementation of policy and strategic guidelines for curriculum

development by NAAC is.. 2. Placement facility in your institution is . 3. HR Development technique involved in your institution is. 4. The long term relationships with external customers are. 5. Staff benefits in your institution are.

6. Effectively dealing with student complaints is .

ANALYSIS PART OF THE GENERAL AREAS OF IMPROVEMENT QUESTIONS

Variable 1 2 3 4 5 6

Mean Std. Deviation Z calc Sig( 2 tailed) 2.9232 0.51345 -1.521 0.129 0.5129 0.49694 -1.352 0.181 3.0301 0.54013 0.555 0.58 3.0825 0.425 1.911 0.059 0.92 0.30748 13.659 0.001 0.7779 0.41786 6.621 0.002

TEACHINING-LEARNING-ASSESSMENT.QUESTIONS PLEASE STATE YOUR OPINION

1) STRONGLY AGREE 2) DISAGREE 3) UNDECIDED 4) AGREE 5) STRONGLY AGREE 1. Bridge courses are implemented to bridge the gap. 2. An evaluation blue print are prepared and distributed among faculties. 3. Academic planner are prepared and communicated in proper way. 4. The institutions are arranged any interaction courses and functions. 5. Budget provisions for research are provided. 6. The institution support for fresh faculties for improvement.

ANALYSIS PART OF TEACHING-LEARNING-ASSESSMENT QUESTIONS

Variable 1 2 3 4 5 6 Mean Std. Deviation Z calc Sig( 2 tailed) 0.6393 0.43215 4.143 0 0.407 0.47671 1.521 0.179 3.2121 0.42121 1.921 0.071 3.2323 0.47125 5.519 0.005 0.5918 0.49403 -1.84 0.069 0.9286 0.25886 16.389 0.001

QUALITY CIRCLE-QUESTIONS TICK SUITABLE ANSWER

1) VERY GOOD 2) GOOD 3) NEUTRAL 4) BAD 5) VERY BAD 1. Problem solving technique in your institution is... 2. The top management must be committed to provide the entire necessary infrastructure for QC activities are 3. Arranging training facilities on QC for faculties are .. 4. Head of departments should meet voluntarily about problems of the institution is.. 5. The institution undertakes case studies and research activities pertaining to educational management are..

6.

The faculties of your institutions receive the opportunity for communicating with other professionals is ..

ANALYSIS PART OF THE QUALITY CIRCLE QUESTIONS

Variable 1 2 3 4 5 6 Mean Std. Deviation Z calc Sig( 2 tailed) 3.2121 0.54054 0.558 0.58 3.9121 0.53126 1.911 0.059 2.7172 0.52831 -1.512 0.131 3.3223 0.42131 0.494 0.063 0.9286 0.41311 -1.392 0.169 0.9021 0.48672 1.671 0.172

BENCH MARK QUESTIONS TICK SUITABLE ANSWER

1) VERY GOOD 2) GOOD 3) NEUTRAL 4) BAD 5) VERY BAD 1. Bench marking is the search for best practices that will lead to superior Performance 2. Support for higher education is.. 3. Support for innovative type of training is 4. Strategic bench marking in your institution is.. 5. Centralized media facility in your institution is.. 6. Bench mark support for strength and weakness of the institution is .

ANALYSIS PART OF THE BENCH MARK PRACTICES QUESTIONS

Variable Mean
1 2 3 4 5 6 3.9201 0.7779 2.4949 0.5913 2.4175 0.6939

Std. Deviation
0.30749 0.41791 0.49681 0.46376 0.39212 0.45365

Z calc
6.614 4.143 -1.01 1.84 -1.23 16.389

Sig( 2 tailed)
0 0.001 0.121 0.68 0.192 0.671

RESULTS AND DISCUSSIONS

The unit analysis for this study was the institutions. Therefore, researchers looks at the data which was gathered from random selected faculty members of different institutions through the survey being conducted. An open ended question was developed to gather information about four essential ingredients of institutions. The each essential ingredient consists of six questions. The response of each department is recorded separately and then all four responses are compiled together and made one.

SUMMARY OF FINDINGS
Majority of institutions are not introduced NAAC policy fully. Majority institutions are not having proper placement facility.

HR development techniques involved in the institution are good. Staff benefits in institutions are very moderate. Dealing with student complaints is good. Bridge courses are implemented in few institutions only. Evaluation process in the institution is low. Academic planner and its communication are good. The majority of the faculties express that interaction courses and its functions are not good. The institution support for fresh faculties for improvements. Budget provisions for research are very low. Problem solving technique in the institution is good. The necessary infrastructure for QC provided by the top management is neutral. Organizing the training facilities on QC for faculties is not good. Some of the institutions undertake case studies and research activities pertaining to education management. HOD should not meet voluntarily about the problems of institutions. No faculties of the institutions receive the opportunity for communicating with other professionals. There is a support for higher education. Bench marking is good Innovative type of training is not good. Strategic bench marking in the institutions are neutral. Centralized media facility in the institution are not their.

CONCLUSIONS:
The emerging changes and challenges in the field of higher education can no longer be dealt within isolation. It is, thus, necessary adopt Strategic approach through proper management functions of various categories of administrative and field functionaries with prior importance to Essentials of ingredients. As a result, educators are being challenged to come up with new strategies of instructions, which a deeper insight into how people learn, especially in this digital age. This paper has thrown light on the new ways of learning theories with the integration of all the factors to bring out active learning.

SUGGESTIONS AND RECOMMENDATIONS

RECOMMENDATIONS AREAS FOR IMPROVEMENT
1) Job Security must be ensured to the faculty and its supporting staff. 2) Effective salary /reward and other management should be implemented. 3) Effective performance measurement systems for the faculty, staff and students should be adopted.( Maintain of health competition among the customers) 4) Minimizing of personal factors like stress, fear, anger, ego and conflicts etc. 5) Maintain practical oriented teaching method along with theoretical method. 6) Semester duration should be increased.

RECOMMENDATIONS TEACHING-LEARNING-ASSESSMENT
1) Every faculty must be trained to use modern method of teaching.

2) Head of the institution to motivate the faculty to avail the benefits of the various types of research grants. 3) Collaboration with NGO, government, UGC, etc helps in the improvement of higher education. 4) Organizing seminars and conference which helps in interact with eminent personalities. 5) The institution should implement a regular evaluation of the teachers by students. It supports for improvement of teaching process. 6) Point out slow as well as advance learner. Develop and implement new techniques for facilitating these variant learners.

RECOMMENDATIONS QUALITY CIRCLES

1) Impressing upon the employees /faculties on the need of the launching QC activities to their own benefits, which would eventually improve quality. 2) The head of institution must be involve to provide all the support, motivate and necessary infrastructure for QC activities. 3) HOD should meet voluntarily, discuss the problems of their respective departments, exchange of opinions inform the views and consider the view of their respective staff and redirect it to top management for decisions. 4) To strengthen educational data base for decentralized planning and management. 5) Undertake case study and research activities pertaining to educational management for education if and when necessary.

RECOMMENDATIONS BENCH MARKING-PRACTICES

1) Highlights academic and career orientation program to faculties. 2) Guidance for entrance examination.

3) Method of teaching and learning plans need be prepared. 4) Proper training provided for innovative type of teaching. 5) Provide library facilities for the faculties for self learning method through books, journals, internet and e-resources.

Mazumdar Committee Report (2005). Report of the Committee on National Common Minimum Programmes Commitment of Six Per Cent of GDP to Education. National Institute of Educational Planning and Administration (NIEPA), New Delhi. Macarthur, J. W. and Sachs, J. D. (2002). The Growth Competitiveness Index: Measuring Technological Advancement and the Stages of Development. In: The Global Competitiveness Report, 2002. World Economic Forum. Mehta, Pratap Bhanu. (2006). Will India ever have a Buffet? Open-Ed Page. The Indian Express. June 29, 2006. MHRD. (2006). Annual Report. Ministry of Human Resource Development, Department Of Secondary and Higher education. Government of India. New Delhi. Moore, R. M. (2004). The rising tide: "Branding" and the academic marketplace., Change, . May-June 2004. NASSCOM. (2005a). The IT Industry in India: Strategic Review 2005. NASSCOM, New Delhi. NASSCOM. (2005b). Extending Indias Leadership of the Global IT and BPO Industries. NASSCOM-Mckinsey Report 2005. NIEPA (2006). Report of the National seminar on Privatization and commercialization of Higher education on May 2, 2006. National Institute of Educational Planning and Administration. New Delhi.

NO-2
Dr. Shuvasri Das Lecturer SEMCOM College, Vallabh Vidyanagar E-mail id: sdas@semcom.ac.in Cell No.: 9898038325 Dr. Preethi Menon Lecturer

SEMCOM College, Vallabh Vidyanagar E-mail id: priti.menon1@gmail.com Cell No.: 9879787370 Entrepreneurship Education to Business Students - The Value Chain Approach Abstract Today there are enormous social, economic and educational benefits of entrepreneurship. As a result, entrepreneurship education programs are one of the most sought after areas of study among collegiate business students. Graduates of this program are not only increasing in number, they are reshaping our understanding of markets, technology and management leadership. Bent on realizing their own perceived opportunities they continue to define their standard for business innovation and by doing so alter the competitive landscape for future enterprise. Whereas 15 years ago only a handful of colleges offered courses on entrepreneurship, today more than 1500 colleges and Universities in India offer some or the other form of entrepreneurship training. Despite the growing number of new and expanding educational programs in this area, many are still questioning whether entrepreneurship is worth the investment, whether entrepreneurship training enhances the students abilities to compete in todays job market and whether entrepreneurship students make stronger and more successful business leaders. Based on the above background, the paper attempts to explore the need for entrepreneurship education and its current situation in India.. A part of the paper traces out the level of success of entrepreneurship education from the students perspective. For this purpose, primary data has been collected from management students of graduate and post graduate level of various business schools through the structured questionnaire. The study identifies the various challenges of entrepreneurship education in India today. The paper concludes by developing a Value Chain Approach to strategize entrepreneurship education in India.

Entrepreneurship Education to Business Students The Value Chain Approach

Need for entrepreneurship education A country's competitiveness starts not on the factory floor or in the engineering lab. It starts in the classroom.

(Henry Ford) Entrepreneurship is a creative human act involving the mobilization of resources from one level of productive use to higher level of use. It is the process by which the individuals perceive opportunities without regard to resources currently controlled. In the closing decades of the 20th century entrepreneurship gained increased recognition among economists as a significant driver of improvements in societal welfare. Across the globe, governments have acknowledged the importance of their roles in motivating individuals, businesses and related stakeholders to perceive and develop new opportunities that can promote positive change and create economic growth in their societies. This entrepreneurial spirit is now seen as the main source of innovation in the nearly all industries, leading to the birth of new enterprises and the growth and renewal of established organizations. The importance of entrepreneurship education and training was stressed in a recent (2009 Report by the Global Education Initiative (GEI) of the World Economic Forum (WEF) : while education is one of the most important foundations for the economic development , entrepreneurship is a major driver of innovation and economic growth. Entreprenuership education plays an important role in shaping attitudes, skills and culture The requirements of entrepreneurship education and requirements are different among the different economies of the world depending upon their levels of economic development. There are three sets of economic framework conditions on the basis of which countries may be classified as : Factor Driven Efficiency Driven Innovation Driven

In Factor driven countries there is focus on enhancing the basic requirements of economic development such as stable Government, primary healthcare and education and other basic infrastructures. As the economy develops and turns into efficiency driven

Government starts to pay more attention to the quality and quantity of entrepreneurship and innovation which becomes the source of national competitive advantage. These nations need to compete in ways that are more creative. The primary entrepreneur framework depends on the nature and level of entrepreneurship education and training. Thus entrepreneur education training increases as a country develops economically. In the innovation driven countries it was commonly thought that entrepreneurship could not be taught. Many still believe that education and training are not necessarily for starting business. People like Bill Gates and Steve Jobs, both dropping out after a few years of college made for big business leaders. It became apparent , however that they did not represent typical entrepreneurs, particularly for businesses with knowledge based products and services. Many governments in innovation driven economies have since declared their commitment to entrepreneurship education identifying it as a key priority. Although entrepreneurship education has reached maturity in the advanced economies like UK and USA entrepreneurship education is a relatively new practice in India. Since, entrepreneurship education is an emerging concept it has a significant role to play in India which is passing through the transitional phase from factor driven to efficiency and innovation driven. Indias higher education system generates a large number of graduates every year. However, its economy is not in a position to absorb the graduates passing out, leading to an increase in the educated unemployed. Does entrepreneurship education make a difference? There is an extensive literature on entrepreneurship education and training but greater understanding is needed about how programmes and learning strategies help develop skills that lead to the formation of new ventures. The WEF Global Education Initiatives Report argued that there is strong evidence that entrepreneurship can boost economic growth. A recent study for the Small Business Administration Office of Advocacy (Summit Consulting 2009) found that University Graduates who have taken entrepreneurship courses are more likely to select the careers in the entrepreneurship, work in small business and develop patented inventions or innovative processes, services or products.

Researchers have suggested that education and training for entrepreneurs should positively influence the actions by enhancing the skills to start and grow a venture. For eg. education and training can enhance once cognitive ability for managing the complex process of opportunity recognition and assessment. Classes that provide the role model and example of the entrepreneurship process can equip individuals with the ability to recognize access and shape opportunities. The State of Entrepreneurship Education and Training in India Between 1950 and 1980 i.e, in the period of 30 years there were only 118 management Institutions and between 1980 and the year 2000, 626 new management Institutions were set up which proves the commercialization of management education. Although there were openings for business students because of shift in the economic policy of the Government, but it also resulted in birth of vendors of management degrees. Today there are around 1500 Private and Public Institutes offering Management and Entrepreneur Education which have become commercial establishments. Inspite of the fact there is a proliferation of management institutes, it has resulted in decline in quality education. Only a few of them such as IITs and IIMs produce graduates who are sought world over but our business schools also produce thousands of management graduates who are neither unemployable nor do they have the business acumen to start up a business of their own.

Chart 1. Gap Analysis of different Business Institutes

LOW
Achievement Motivation Opportunity Identification

FOCUS
Support Servic es Business Plan & Feasibility Other S kills Development

HIGH

Output System of Education

Outcome

Universities (Govt.-Aided)
Colleges/Institutions (UG/PG)-all streams

State Govts. (Tech Edu Deptt)

Vocati onal Trai ning/ Pol ytec hnics

Autonomous Institutions

Govt. Initiative

IIMs / IITs

EDI / CEDs LOW

HIGH

REACH ( Students Density ) Systemic Weakness

Lesser Flexibility Lac k of Res ources Marks-driven ( Mar ksist) Lower Moti vation

At present, if we look at the system of entrepreneursip education, it is rendered by Universities (Government aided), Technical Education Department (State Government), Autonomous Institutions like IIMs and IITs and various Government initiatives like the EDI. We find that although the number of students enrolled in the Central and State sponsored institutes are higher but the focus of education in theses institutes are lower. Similarly although the capacity of the premier institutes in management is low but the focus on developing entrepreneurs in various sectors is very high. The accessibility of the students pertaining to entrepreneurship and management is higher in Central and State Government aided institutes as well as the innumerable private institutes due to their easy enrollment, comparatively larger intake, and easy selection procedure. This has resulted in thousands of students graduating every year with degrees but the ratio of management students opting for entrepreneurship is very low in numbers. This is because in most of Management Institutes the focus is broad based and the knowledge is theoretical. Very few top Ranking Institutes focus on creating entrepreneurial attitudes and help students recognize opportunities and think creatively and enable them to build leadership skills and confidence.

According to a survey conducted by Marketing and Development Research associates MDRA in 2010, management and entrepreneurship institutes have been listed from all over India on the basis of various parameters such as selection process, academic excellence, personality development, infrastructure, facilities and placements. Table 1. Top 10 Government B-Schools Rank Name of Institute 1 IIM-A 2 IIM-B 3 IIM-C 4 FMS 5 IIM-K 6 IIM-I 7 IIFT 8 NITIE 9 S.J. Mehta School, IIT Bombay 10 MANAGE Table 2. Top 10 Private B-Schools Rank Name of Institute 1 XLRI 2 MDI 3 S.P Jain Instiute Management 4 IMT 5 NMIMS 7 MICA 8 XIM 9 IMI 10 IMI City Ahmedabad Bangalore Kolkata New Delhi Kozhikode Indore New Delhi Mumbai Mumbai Hyderabad

City Jamshedpur Gurgaon of Mumbai Ghaziabad Mumbai Ahmedabad Bhubaneshwar New Delhi New Delhi

The survey also reveals that from the recruiters perspective there are some areas where improvement is needed in fresh B- school graduates.

Trained Business Students and their perspective towards entrepreneurship education A Case Study of Anand and V.V. Nagar. A survey was conducted among 500 final year business students at graduate and post graduate levels in various colleges and University in and around Anand and Vallabh Vidyanagar with the help of a structured questionnaire. The purpose of the study was to find out the outcome of entrepreneur education from students perspective. Table 1. Preferences of Students for opting different career options
Entrepreneurs Total Male Female UG PG 41% 45% 33% 52% 32% Managers 59% 55% 67% 48% 68%

Table 1 reveals that out of the 500 trained business students from various institutes, 41 percent want to be self employed while 59 % would not want to take the risk but prefer being employed as managers. According to them, an assessment of opportunity costs makes being employed are safer option especially in India where employment opportunities are sparse and entrepreneurial activities not very rewarding. The gender wise comparison shows that the male students are more inclined towards entrepreneurship (45 percent) compared to female students (33%). On conducting a comparative study of UG and PG students opting for job or self employment, the data reflects that a higher number of UG students would prefer being entrepreneurs. The reason behind this is that most of them have family owned business which they want to carry forward. Table 2. Gestation period between study and self employment After Study After Experience > 2 Total Male Female UG 20% 03% 63% 32% 80% 97% 37% 68%

PG

10%

90%

Table 2 shows that while 80% of the students want to wait for minimum 2 years to gain experience before starting an enterprise only 20 percent want to start their business immediately after completing their studies. Female students are more eager to start their enterprise immediately after the study since they perceive that at an early age the family responsibilities and expectations are lesser and risk taking capacity is higher. Table 3. Which of the two is more status giving from students perspective ? Top Manager Total Male Female UG PG 46% 42% 56% 48% 45% Entrepreneur 54% 58% 44% 52% 55%

Table 3 indicates that 54% students feel that owning a business more status giving to them, although it entails a risk. While females find managerial role more status giving male students find entrepreneurship to be more aspiring. Table 4. Ranking of reasons for becoming entrepreneurs Rank Reason % 1 2 3 4 To be a Leader in Business & Industry 41% To do something Unique in Life 32%

To help society & create Employment 14% To earn lots of money 13%

Challenges of Entrepreneurship Education in India Cultural barriers Entrepreneurship can develop only in a society in which cultural norms permit variability in the choice of paths of life. Unfortunately, the Indian culture consists of a network of benefits that in many ways run counter to entrepreneurship . For example, Indians believe that being passive and content with the status quo is healthier for the inner soul than striving to improve ones situation. They believe that peace of mind can be achieved from spiritual calm rather than from materialism. People in India are more sensitive to emotional affinity in the workplace than to work and productivity. Moreover, the caste system has impeded class mobility for centuries. The caste system and its series of obligations reinforce the practice of following a family occupation rather than launching a new venture. An entrepreneur needs to work around the clock and this has kept some people away from their own start-ups. After all, compared with other countries, family life in India is more important. People, even today, think that taking up a job is much better than taking a risk and starting a venture. If a job is taken up after college, the person will soon have a comfortable existence. The other scenario could be starting a venture after working for four to five years. This requires a lot of commitment and courage to leave the present job. As time passes by, the risk-taking capacity goes down. Difficulties towards Start-ups

Starting a business in India is costly in terms of the time required and the cost involved. While it takes just five days to start a business in the United States and just two days in Australia, in India it takes as long as 89 days. What really hurts is that even in neighbors Pakistan, Nepal, and Bangladesh, it takes just 24, 21, and 35 days respectively to do so. The reason for such delay is bureaucratic--too many rules and regulations, and too much paperwork (Ashish Gupta, 2004). On average, it would cost an entrepreneur nearly half of his/her total income (49.5% of the gross national income per capita) to set up a business, which is 100 times more than what is needed to set up a business in the United States. Again poorer cousins Bhutan, Pakistan, and Sri Lanka are better off. Doing business in India is an extremely difficult proposition (Ashish Gupta, 2004). The absence of an appropriate entrepreneurial climate, the lack of required infrastructure facilities, and the lack of access to relevant technology hinder rapid industrial development. Most of the time, the Indian entrepreneurs have to tackle electricity, transportation, water, and licensing problems. Incomplete Entrepreneurship Education A survey done by the Entrepreneurship Development Institute, India (EDII) in 2003 shows that young people are afraid to start their own business because they are not confident, not capable, and lack knowledge in starting a business. Many people have the opportunity to change jobs or become an entrepreneur if they are properly trained. The students in India are not satisfied with the hands-on support of their university in the founding process. The EE in the higher education system should, therefore, satisfy the need for entrepreneurship by: selecting + motivating + training + supporting. Unfortunately, the present EE in India just concentrates on related courses. Moreover, the so-called entrepreneurship courses are similar to the general business courses. But general business management education has no significant influence on entrepreneurial propensity. The findings of a survey on business owners in India suggest that management education is not an important driver of entrepreneurial attitudes (Gupta 1992). There is a demand for education programs specifically designed to expand students knowledge and experience in entrepreneurship. The contents and teaching methods have to be differentiated between entrepreneurship and traditional business courses.

Besides offering the courses in entrepreneurship, some educational institutions also organize entrepreneurship related activities. But these activities are not much different from each other and are not supportive of their educational programs. For example, almost every IIM has its own incubator, but those incubators are mainly designed for outside entrepreneurs. The Value Chain Approach The Value Chain Approach is one of the most popular and effective framework to represent the sequential approach for strategising entrepreneurship education.

Value Chain
1. GOVERNMENT ROLE Resource Allocation Facilitation Encouraging Institutions 1 1 4. START UP/GROWTH/EXPANSION SUPPORT Business Training Centers Incubators 2. ENTREPRENUERIAL CULTURE Franchising Attitude Enterprise Forums & Clubs Aspirations Entrepreneurship Activities Mentoring Programs

3. STRUCTURE OF BUSINESS EDUCATION Flexible Curriculum Core skills Corporate Academic Partnership 3

Life Long Learning 3

5. PROFESSIONAL RECOGNITION Accreditation Global Linkages

1.Government Role

Feedback & Analysis

The activities of the entire Value chain start from the role of the Government and Business Leaders who need to invest in entrepreneurship educational institutes and support their initiatives. The government financial support for business education is required to compete internationally. Although government should ensure funding it should allow greater autonomy to educational institutes by de-bureaucratising the system. Entrepreneurship and Management institutes should be run by professionals not politicians. For instance, premier institutes like IIT (Mumbai) and IIM (Ahmedabad) have persons like Rahul Bajaj and N R Narayana Murthy as chairmen of their governing bodies. The Eleventh Five Year Plan (2007-2012) having recognized the need for more management and technical institutes has proposed 8 new IITs, 20 new NITs, 20 IITs, 7 IIMs and 2 SPAs. It has also provision to increase the intake capacity by about 54 percent in such institutes. 2. Entrepreneurial Culture There is a very important role of entrepreneurship in economic development while business entrepreneur drive and shape innovation, they speed up structural changes in the economy and they introduce the new competition thereby contributing to the productivity. Social entrepreneurs perform a similar function in the social economy, filling gaps in social needs that are left unfilled or poorly addressed by both business and

government. Therefore to develop business entrepreneurs or social entrepreneurs the attitude must be developed among the business students of the nation. Entrepreneurial attitudes are important because they express the general feelings of the population towards entrepreneurs and entrepreneurship. It raises the status of entrepreneurship in the nation and builds positive attitude and willingness to bear the risk. It improves the individual perception and knowledge in business creation. As people see more and more successful entrepreneurs in their area, this may enhance their perception of their capabilities. This effect is stronger when the economic climate is favourable such as economic growth and a liberal national entrepreneurship policy. 3. Structure of Education Education in business schools should be imparted such that the different programs and learning strategies help develop skills that lead to the formation of a new venture. In other words such education and training should impact the entrepreneurial orientation. There needs to strike a proper balance between didactic training and skill. Every learner should be equipped with a set of core skills that can be retuned and amplified to enable adaptation to emerging opportunities in the rapidly changing world. The core skills constitute quantitative and analytical thinking, language, communication and networking, accessing and managing and imbibing the spirit of competition and innovation. These attributes are essential for employment, entrepreneurship, knowledge and wealth creation. The course content, instructional objectives, methodology and evaluation system should facilitate the learners of the business schools to equip them with the necessary skills as required by the Industry and for this purpose the Executives of the Industry should join hands with the Institutions in designing the suitable curriculum and standing by them and implementing the curriculum. There needs to be intellectual resource sharing through Institutional faculty Industrial expertise exchange Internship of students in a Company Participation of the industry in conferences, seminars and workshops organized by the Institutions.

Collaborative research Consultancy services of the Institutions to the Industry

Entrepreneurship is inherently multidisciplinary in nature therefore most of the learning takes place outside the business schools. Due to the global competitiveness and the dynamic business environment with fast growing technological changes, there needs is life long learning for adaptability to change. 4. Start Up/ Growth/Expansion Support Business Training Centers A number of transitional economies have already developed networks of business training centers (BTCs). The BTCs have a variety of functions such as business training, consulting, and serving as an information resource or library for business people. They might be organized as semi-public non-profit companies or as private companies. They might be financed by local governments, by consulting fees and user charges, or even by international donors. They might be stand-alone organizations or part of a larger network or franchise system. Usually the difficult transition is from government-funded to selffinanced training which involves developing the local demand for business training services. BTCs are not unique to developed economies. For instance, in the United States the Small Business Administration (SBA) was a Federal agency that supported many Small Business Development Centers often associated with universities. For the agricultural sector (thinking of farms as small businesses), the Agricultural Extension Service, usually associated with an agricultural college, provided information and consulting advice on best practices to farmers all across the country. Incubators Business incubators provide some of the standard infrastructure (space, communications, and support services) for new startups so that the entrepreneurs can focus on what is unique to their businesses. Some incubators also provide consulting services and advice. The internal incubator (as, for instance, developed by the company InIn in Slovenia) is an incubator inside of a large company that needs to downsize by spinning off some workers in small businesses. These could be new businesses or part of the old company to be

spun off as a separate operation. socialist economies. Franchising

The internal incubator should be a particularly

important tool in the restructuring of the large uneconomic enterprises in the post-

A business franchise is a pre-packaged slice of relatively successful entrepreneurship which saves the franchisee the trouble of "reinventing the wheel." While the concept should be very useful in the transitional economies that are currently lacking in strong entrepreneurial traditions, there are several reasons why the uptake may be slow. Firstly, many of the western franchises can only with great difficulty be transplanted into the transitional economies. The supply networks may be absent, the tastes may be quite different, and the niches may not be the same. Some foreign franchises may only work for awhile due to the pent-up demand for foreign products. Eventually domestic master franchisers will be developed, and only then can the potential of franchising be realized. The second problem that needs to be addressed is that of intellectual property rights. In an economy with lax enforcement of trademarks and franchises, so many imitators and pirates would free-load off the brand recognition and reputation of the franchise that it would soon be uneconomic for the master franchiser to continue. Enterprise Forums and Clubs On the model of the MIT Enterprise Forum, an entrepreneur presents a business plan to a panel of experts, financiers, and experienced entrepreneurs before a public audience. The presenter will learn much about the problems in his plan which can be rectified before it is presented to the real financiers. Future entrepreneurs in the audience learn first-hand about business plans and their presentation, and about the whole culture of entrepreneurship. An enterprise forum might be associated with an entrepreneurs' club which could sponsor other public activities and social gathering. In addition to supporting the culture of entrepreneurship, these clubs provide a central meeting place to allow entrepreneurial team members and financiers to find each other. Clubs might be associated with BTCs, incubators, chambers of commerce, colleges, or schools. Entrepreneur Mentoring Programs

It is a commonplace that much of "entrepreneurship" cannot be captured and transferred in textbooks. Thus, to be successful, business cultures need to develop ways in which entrepreneurial skills in their "embodied form" (i.e., in successful entrepreneurs) can be socially transmitted, propagated, or "recycled" to aspiring young and mid-career people. 5. Professional Recognition Accreditations The challenge for business schools is to solidify their role through accreditation of quality world-wide. Through national and international accreditation, there would be increased public knowledge and confidence on the institute and the institute could serve as a model to the society This would also increase their accountability to the public. Global Linkages As we move up the value chain international collaboration among business schools hold great potential to overcome the challenges of increasingly dynamic business environment characterized by accelerating change, intensifying global competition, shifting strategic foundations and evolving managerial skill sets. This needs business schools to stay abreast of the changes and react quickly and innovatively. Corporate Universities Large number of MNCs have entered into partnership with higher education institutes (HEIs) to bridge the gap between knowledge and skill, to inculcate corporates work culture and also make the presence of these institutes felt in the country. The Motorola University in the United States, Barclays University in the United Kingdom are few examples of corporate universities. In India Infosys has set up the Infosys Training Centre at Mysore costing Rs. 260 crore spread over 270 acres of land is the biggest corporate training facility in the world. There also needs to be cross border partnerships since internationalization of education not only promotes quality but also brings with it professional recognition. The worth of the qualification is determined by the reputation of the providers.

Feedback and Analysis

The successful business students from various institutions finally start a venture of their own. Therefore there needs to be a feedback from the new entrepreneurs about their perspective regarding the effectiveness of the curriculum and contribution of the institute in shaping their careers. There should further be an analysis on the factors where the institutes are lagging in meeting their expectations and should work on fulfilling the linkage gaps. Conclusion Never before in history has innovations offered promise of so much to so many in such a short time. Bill Gates We live in an era dominated by innovations and the key drivers of innovation are the entrepreneurs. Realising this, in the last two decades there has been an exponential growth of business schools. Nevertheless most of the business schools in our country lay stress on creating managers rather than fostering entrepreneurship. In our country we observe that whatever little enterprise that perpetuates is for self employment which does not help in creating employment for the teeming millions in need of a livelihood. Family businesses in India are more prevalent and first generation entrepreneurs are very few. Business students do not have the courage to take bold initiatives and innovative enterprises. The global meltdown further reduced the number of students who thought had good opportunities to start a business in India and other parts of the world. The main bottleneck in the attempt to foster entrepreneurship are the entrepreneurship education institutes which are unable to create the entrepreneurial spirit among the students. There is a gap between knowledge and skill which can only be reduced through an interface between Institutes and Industries. Its high time that Indian entrepreneurship education take a jump start and take a lead in creation of hi-tech enterprises for which world class business incubators, entrepreneurial research park, venture capital fund institutions etc. need to continuosly emerge and expand.

Therefore there needs to be a Quality Revolution in Entrepreneurship education through the Value Chain Approach where there has to be the highest possible quality at each step of the development process. The Value Chain presents an effective strategy of imparting multidisciplinary business content and experiential approaches along with mentorship and training from the Corporates and Industries during start-ups. Institutes ought to expand and look beyond conventional horizons to what their counterparts in the world are doing. The role and responsibility of the Government, Industry and Educators in a combined manner is vital.

Selected References
1) Sarswat R.C, Tripathi K.C (2009), Analysis of emerging Environment and Quality Challenges in Indian Higher Education : A Value Chain Approach, University News, Vol No 47, Jan 2009. 2) Verma H.L, Management Education in New Economy Some Emerging Issues, University News, Vol No 47, July 2009. 3) Subaiah A, Jayakumar S. Recent Trends in Management Education, University News, Vol No 47, June 2009. 4) Bholeapur M.R Building Institution Industry Relationship : Indian experience University News, Vol No 47, April 2008. 5) Be Creators, Entrepreneurs & Innovators, Speech by Mr. Goverdhan Mehta Padmashree Chairman, National Assessment & Accrediation Council & Former Director, Indian Institute of Science, Bangalore. 6) Global Entrepreneurship Monitor Special Report, 2010 7) Global Entrepreneurship Monitor 2009, Global Report , Niels Bosma & Jonathan Levie 8) Kumar & Das, Emerging Challenges of Higher Education System in India, University News, Vol No 37, September 2009 9) Can India Manage? Y/N,Sunit Arora, Outlook, September 2010 10) Best B- Schools: Theory & Practice,, Outlook, September 2009

11)

Porter, Michael and Klaus Schwab, 2008. The Global competitiveness Report

2008-09. Geneva, Switzerland: World Economic Forum 12) Fiet, James, 2000. The Pedagogical Side of Entrepreneurship Theory, Journal

of Business Venturing, Vol. 16, pp. 101-117.

Submitted By 1.Dr. Preethi Menon Lecturer (Accountancy and Management) SEMCOM College Vallabh Vidyanagar Cell No. 9879787370 E-mail id : priti.menon1@yahoo.com 2. Dr. Shuvasri Das Lecturer (Economics) SEMCOM College Vallabh Vidyanagar Cell No. 9898038325 E-mail id : shu_vasri@rediffmail.com