Entrepreneurship can be described as a process of idealizing, designing, conceptualizing, launching and running a new business. These businesses offer products, processes or services for sale or hire and are commonly known as start-ups. Start-ups are crucial for a country’s economic growth, especially for a developing country like India, where there is a dearth of employment opportunities. Start-ups don’t just add to the country’s GDP but also contribute to creating up to 75% of new employment opportunities in the country every year.
India is home to some of the most innovative minds in the world. All over the world, Indians have made their mark in various industries as strong, dedicated and intellectual businessmen and businesswomen. To encourage people to start new businesses, the Government of Indiahas come up with more than 50 schemes that provide help and guidance to new entrepreneurs from different industries. Starting a business on your own is quite a tough task though, but obtaining essential guidance and knowledge can prove advantageous.
The 21st century is the century of start-ups; no other century has seen so many people starting their own businesses. Starting a business is not easy, an entrepreneur has to focus on every single aspect that could make or break the whole business. One cannot excuse himself/herself from the responsibility by giving an excuse for insufficient knowledge.If you take the plunge into starting your own business venture, it is necessary that you possess a strong backing, not only in terms of finances but also knowledge. This is where an educational program in entrepreneurship gains significance in the business world.
A degree in entrepreneurship provides the students with the valuable know-how of important subjects like accounting, Information technology, marketing, ethics, management, economics, finance and other topics, which form the foundation of any business. Students are also taught interpersonal skills necessary for building and maintaining relationships in various facets of a business.
Some of the key benefits of attaining a degree in entrepreneurship are:
- Validated Skills: A degree in entrepreneurship validates your knowledge of intricacies of a business. A person with such a degree can be relied upon for possessingknowledge on various aspects ofrunning a business. This is especially helpful when you approach potential investors for funding for a business idea or in a meeting with customers, as the degree helps enhance your credibility as well as knowledge base. The investors will trust in a person who has a degree to prove his competency than a person who doesn’t.
- Personality Development: A degree in entrepreneurship focuses on overall development of studentsenabling their transformation from students to industry-ready professionals. Communication skills and personality development are integrated into the course structure to prepare students to be ready for great opportunities when they graduate. Entrepreneurs have to deal with clients, customers, business partners, employees, and staff members every day. As such, having a good, confident personality and exceptional communication skills are very important while dealing with people and putting your ideasacross.
- Opportunity to Get Mentored: Once you are in the corporate world, you will rarely find people who take time to mentor those junior to them. Everyone is worried about their own responsibilities. But a degree in Entrepreneurship offers an opportunity to students toapproach to the qualified mentorsfor assistance and help, who can guide them at every single step of the way and make them learn from their own knowledge and experience. Students can talk to their mentors and get expert advice on projects and ideas.
- Learning: Students are exposed to case studies, group discussions, problem-solving techniques, team projects, and effective business communication methods during the course of their education, which they are not exposed to anywhere else. Students also learn to analyze the market conditions, establish a management team, make legal strategies, evaluate risks and contingencies, and much more, which turn to be immensely helpful in the long run.Students pursuing an entrepreneurial degree don’t just learn how to build their businesses or start their careers but also to move ahead and succeed in their chosen field.
- Connections: The connections you build in your college days stay with you for your lifetime. Students studying entrepreneurship tend to form relationships with others in the same course who in the future are equally likely to start their own business. Such connections and contacts can be of huge help in the future.
We, at the J.K. Lakshmipat University, offer an industry-vetted B. Com (Hons.) Degree in Entrepreneurship, which is a holistic program aimed at providing the students with the necessary theoretical knowledge along with the essential practical experience necessary to succeed in the corporate world. Staying true to its values and principals, JKLU emphasizes on ‘learning with understanding’. The university integrates practical learning into the curriculum to help students learn more than just theory.
- With a 2-month compulsory industry internship, J.K. Lakshmipat University gives the students an opportunity to work with real professionals and get the feel of the actual work environment in the industry. Internships help students to attain the vital on-the-job experience and hands-on learning. J.K Lakshmipat University has great relationships with well-known companies and industry leaders. Internships also give students a chance to prove themselves at work and be called back to join the organization after completing the degree.
- The University invites successful entrepreneurs and other industry experts to coach the students on what it takes to be an entrepreneur. Visiting faculty and full-time faculty at the University work as mentors and not just teachers, sharing their real-life experience and guiding students towards their chosen career path.Students learn from success stories and mistakes of these professionals and use these learnings in the future.
- The university conducts annual industrial visits to bring students closer to the realities of the workplace. These visits are a step closer to the goal of making students industry ready.
Hence, whether you want to start your own business or operate in some capacity the business of another organization,a degree in Entrepreneurship can be of great advantage to you. And when your entrepreneurial education is backed with a strong support of the reputed and renowned J.K. Lakshmipat University, success will certainly be on your side.