Entrepreneurship Career Outlook

“Experiments are necessary for the experiences that create growth

and new opportunities.”

Careers in entrepreneurship can be found in all industries -- every business needs professionals
who can foster success and juggle multiple responsibilities.

Entrepreneurship – What, Why and How?

 Who is An Entrepreneur?
Entrepreneurs are the ones who creates a difference!

A person who sets up business on taking the financial risks in the hope of profit is termed
as “Entrepreneur”..

Entrepreneur is an innovative or independent-minded business person. An entrepreneur

creates products & services. They are job creators rather than job seekers.

 What is Entrepreneurship?
Entrepreneurship is the ability and readiness to develop, organize and run a business enterprise
along with any of its uncertainties in order to make a profit.
The entrepreneurial vision is defined by discovery and risk-taking and is an indispensable part
of a nation’s capacity to succeed in an ever-changing and more competitive global marketplace.

Top startups
From food startups to Elon musk’s Tesla we have so many examples of entrepreneurs in
various fields. Here are the few examples of successful startups in different domains.

Food startups Beauty & Clothing Start- E-commerce Start-ups Hospitality start-ups
ups
 Swiggy  Nykaa  Flipkart  Oyo
 Zomato  Skinkraft  Amazon  Trivago
 Food  Mama Earth  Myntra  Makemy trip
panda  Biba  Alibaba  AirBnb
 KFC  Lakme
 Dominnos
Air Bnb Example:
Airbnb implemented the mix-n-match entrepreneurial approach to build a network of all such
available rentals in a certain area and make it available to tourists. Without owning a single
property, their innovative business model offers a win-win situation for all parties. Airbnb
benefits from service charges for offering this buyer-seller marketplace model, controlling the
sales channel without owning a single property.

 Why Entrepreneurship?

Objective of taking Entrepreneurship as a subject

• To develop Entrepreneurial mindset

• Opt for self-employment as a viable option for earning dignified means of living

• To appreciate the dynamic changes happening in the economy

• To acquaint the students about the role of Entrepreneurship in the growth and economic
development of the nation.

Importance of Entrepreneurship:

Today, many visionary students aspire to run their own business, mainly because they seek
autonomy, financial security, and vocational flexibility. Indeed, some of these young adults will
inherit a family business, hoping to fortify and extend the legacy. By contrast, others will launch
a startup to meet an emerging need in the community. These individuals will benefit from
entrepreneurship courses that show them how to innovate, lead, collaborate, and persevere.

1. Creation of Employment

 Entrepreneurship generates employment. It provides an entry-level job, required for

gaining experience and training for unskilled workers.

2. Innovation

 It is the hub of innovation that provides new product ventures, market, technology and
quality of goods, etc., and increases the standard of living of people.

3. Impact on Society and Community Development-

 A society becomes greater if the employment base is large and diversified. It brings
about changes in society and promotes facilities like higher expenditure on education,
 better sanitation, fewer slums, a higher level of homeownership. Therefore,
entrepreneurship assists the organization towards a more stable and high quality of
community life.

4. Increase Standard of Living- 

Entrepreneurship helps to improve the standard of living of a person by increasing the

income. The standard of living means, increase in the consumption of various goods and
services by a household for a particular period.

5. Supports research and development

 New products and services need to be researched and tested before launching in the
market. Therefore, an entrepreneur also dispenses finance for research and
development with research institutions and universities. This promotes research, general
construction, and development in the economy.

Skills for Entrepreneurial Success

While being an entrepreneur can be a risky proposition, entrepreneurship degrees help students
prepare for challenging careers by providing insightful coursework taught by experienced .As
they progress, students build skills and competencies in business, finance, marketing, sales,
and strategic planning Not all entrepreneurs are successful; there are definite characteristics
that make entrepreneurship successful. A few of them are mentioned below:

 Ability to take a risk

 Starting any new venture involves a considerable amount of failure risk. Therefore, an
entrepreneur needs to be courageous and able to evaluate and take risks, which is an
essential part of being an entrepreneur.

 Innovation
 It should be highly innovative to generate new ideas, start a company and earn profits
out of it. Change can be the launching of a new product that is new to the market or a
process that does the same thing but in a more efficient and economical way.

 Visionary and Leadership quality- 

To be successful, the entrepreneur should have a clear vision of his new venture.
However, to turn the idea into reality, a lot of resources and employees are required.
Here, leadership quality is paramount because leaders impart and guide their employees
towards the right path of success.

 Open-Minded
  In a business, every circumstance can be an opportunity and used for the benefit of a
company. For example, Paytm recognized the gravity of demonetization and
acknowledged the need for online transactions would be more, so it utilized the situation
and expanded massively during this time.

 Flexible
 An entrepreneur should be flexible and open to change according to the situation. To be
on the top, a businessperson should be equipped to embrace change in a product and
service, as and when needed.

 Know your Product

A company owner should know the product offerings and also be aware of the latest
trend in the market. It is essential to know if the available product or service meets the
demands of the current market, or whether it is time to tweak it a little. Being able to be
accountable and then alter as needed is a vital part of entrepreneurship.

Scope of Entrepreneurship in India and Abroad

The field of entrepreneurship has a lot of scope. After graduating in this course, the students
can think of starting up their business. The scope of Entrepreneurship is not only tremendous in
India but also in Abroad.

Looking at our young generation, they are more focused on setting up their business than
working under someone. These new young minds have given a great rise to the new start-ups
we see now. They learn new skills and techniques about how to run a business.
Before starting their own business, they can even work in a company and gain experience about
how a company runs, its financial sources, its different departments and much more.

Top Colleges in India

A college degree opens up new opportunities for a person as it contributes to their social and
intellectual growth. The students get benefitted if they manage to go to reputed Universities as
it, later on, helps them in pitching for skilled jobs or higher studies. Here is the list of the top
colleges in India which provides degrees in various Entrepreneurship program.

College Course Admission Mode

 International Institute For  BBA in  Interview
Learning In Management Entrepreneurship
Business School, New Delhi
 All India Institute Of Technology  Bachelor of Business  Not Mentioned Yet
And Management, Chennai Administration in
Entrepreneurship

 G D Goenka University School  BBA – Entrepreneurship  GATA

of Management Gurgaon

 Manav Rachna University  BBA (Entrepreneurship &  Entrance Test

Family Business)

Careers through Entrepreneurship

 How to Start Your Career in Entrepreneurship?

Entrepreneurship as a profession gives a great sense of independence & remarkable amount of

job satisfaction. Today, more & more young people are adopting entrepreneurship as a career
option.
As an entrepreneur, you can start up your own business but if you are not ready to begin your
own business, there are also other options available to use your entrepreneurship degree.
You can work as a business consultant in various government and private companies. You can
also perform teaching jobs at colleges and universities

Here, are the few career options that you can practice after your Entrepreneurial degree.

 Business Owners
Entrepreneurship degree let you start your own Business. A business owner is the legal
proprietor of a business. An individual or group that owns the assets of a firm and profits from
them.

 Business Consultants
Business consultants are generally involved work in areas such as marketing, human
resources, management, finance and accounting. Business consultants are responsible for
improving companies' operations by assessing weaknesses and
recommending business solutions.
  Fundraisers and Development Officers

A fundraising manager is someone who holds a leadership position in the fundraising or

development department at a nonprofit organization.

Fundraising and development are related but differ slightly. Fundraising is raising money,
whereas development (also called fund development) is a more holistic approach that
emphasizes creating and nurturing long-term relationships with donors who support the
organization’s mission.

Development officers are in charge of funding- and donor-related activities for their

organization. They coordinate fundraising initiatives and collect current and prospective donor
information.

 Sales Managers

A sales manager is the person responsible for leading and coaching a team of salespeople. A
sales manager's tasks often include assigning sales territories, setting quotas, mentoring the
members of her sales team, assigning sales training, building a sales plan, and hiring and firing
salespeople.

 New Venture Developers

Business development entails tasks and processes to develop and implement growth
opportunities within and between organizations. It is a subset of the fields
of business, commerce and organizational theory. Business development is the creation of long-
term value for an organization from customers, markets, and relationships. Business
development can be taken to mean any activity by either a small or large organization, non-
profit or for-profit enterprise which serves the purpose of ‘developing’ the business in some way.

 Teaching/Faculty
With Entrepreneurship as subject you can even work as a teacher. The first step to becoming a
entrepreneurship teacher is usually to earn a degree in entrepreneurship. Prospective teachers
in this field typically enter a bachelor’s degree program with an emphasis in business &
entrepreneurship that includes a state-approved teacher preparation program.