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Importance Of Building Entrepreneur Skills In Management Students


Entrepreneurship has never gained so much importance and popularity like the present time. Today, Entrepreneurship is the newest and the hottest trend that is soaring to new heights. A great proportion of Indian management students have an inclination towards entrepreneurship. The management students are enterprising and possess the impulse to satisfy the growing needs and demands of the society and the country, on the whole. Building of entrepreneurial skills in management students is directly proportional to social and economic development.“The art of surviving and thriving” is what entrepreneur skills develop in management students. With that being said, here are a few reasons why B-schools focus on building entrepreneur skills in management students-

1. Helps in developing a new perspective:

By building entrepreneur skills in management students, a new way of thinking and a new approach towards problems, solutions and opportunities is developed in them. Students learn to think from different angles and come out with an effective solution for a problem.

2. Helps in identifying and seeing the bigger picture:

Inculcating entrepreneur skills in management students help in identifying the larger vision. The skills will help management students to see the big picture- to know how things operate, how you can contribute to the society and how the organization and you as an individual can grow.

3. Helps in taking a calculated risk:

In the ever changing, growing and competitive marketplace, it is necessary to take calculated risks in order to stand out among others. No business can survive without taking a risk and crossing the hurdles coming along the way. Entrepreneur skills in management students help to stand firm against the odds and succeed in the complex world. Entrepreneur skills develop the ability of taking risks, but a well-thought one, after outweighing the pros and cons of the same. It helps in figuring out which risk will give the highest reward.

4. Helps in establishing and expanding global network:

Building entrepreneur skills helps them to develop international network base. With entrepreneur skills, management students have an opportunity to interact with people across the world and learn about the market and the trends. Their network expands, which is beneficial in the long run- when you start your venture or go for a job or to ascend the corporate ladder.

5. Helps in decision-making:

Entrepreneur skills help students in effective and efficient decision-making. By inculcating these skills, a sense of attentiveness, leadership and decisiveness is instilled in students, which helps in achieving goals.

6. Helps is accepting and adapting to change:

As we all know “Change is inevitable”. Entrepreneur skills in help to embrace any kind of change smartly, and ensues stable outcomes.

7. Helps in putting forward the ideas/plans/points efficiently:

Building entrepreneur skills in management students’ help in ramping up their confidence and to face and put forward your idea or getting your point through in front of a huge crowd confidently.

8. Helps in learning management skills:

By building entrepreneur skills , management skills are automatically inculcated. These skills cover handling everyday tasks, decision-making, administration, finance, marketing, strategy and planning.

To sum up, every management student must develop skills, whether you want to be an entrepreneur or not. To thrive and succeed in different endeavors of life, the entrepreneur skills will help in every way.

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