UNIVERSITY STUDENTS’ ATTITUDE TOWARDS ENTREPRENEURSHIP

CHAPTER 1
INTRODUCTION

Entrepreneurship is the name given to the factor of production which performs the
functions of Enterprise. In economics, Land, Labour, Capital, Organization and Enterprise
are the five factors which are thought to be the basis of all the production activities.
Entrepreneurship in a broader sense can be considered as a process of action undertaken by
an entrepreneur (person) to establish his enterprise. It is a creative and innovative response
to the environment.

Entrepreneurship can be described as a creative and innovative response to the

environment. Such responses may take place in any field of social endeavor may be
business, agriculture, social work and education etc. For the entrepreneur it is important to
have knowledge about the economic and political environment, more particularly about the
economic policies of the government and the financial as well as commercial institutions.
Thus, a simple definition of entrepreneurship is doing new things or doing things which are
already being done in a new way.

It may be concluded that entrepreneurship is a composite skill, the resultant of many

qualities and traits. These include, imagination ready to take risk, ability to bring together
and utilize other factors of production such as capital, land and labor along with intangible
factors such as capability to mobilize scientific and technological developments.
Entrepreneurship hence involves taking risk and making essential investments under
conditions of uncertainty. At the same time, it is connected with innovation, planning and
taking decisions so as to increase productivity in industry, business and agriculture etc.
Therefore, it plays a key role in the process of economic development.

DEPARTMENT OF TRAVEL AND TOURISM

 UNIVERSITY STUDENTS’ ATTITUDE TOWARDS ENTREPRENEURSHIP

Definition of entrepreneurship

“Entrepreneurship” can be defined as a process undertaken by entrepreneur to augment his

business interests. It is an exercise involving innovation and creativity that will go towards
establishing his/her enterprise.

According to Higgins, “Entrepreneurship” is meant for the function of seeing

investment and production opportunity, organizing in enterprise to undertake a new
production process, raising capital, hiring labor, arranging the supply of raw materials,
finding site, introducing new techniques and commodities, discovering new sources of raw
materials and selecting top managers for day-to-day operation of the enterprise.

Advantages of Entrepreneurship

Life as a business owner may not always be easy, but entrepreneurs do enjoy
numerous benefits. Here are some of the advantages that often come along with starting your
own business:

 A flexible schedule
 Autonomy
 Chance to build a career that aligns with your beliefs
 Continued growth and development
 Enhanced managerial abilities
 Economic development
 Improving the standard of living
 Meeting like-minded people
 Unexpected and thrilling experience
 Freedom to choose the people you work with
 Reap full rewards
 Potential profits can be more than salaries

DEPARTMENT OF TRAVEL AND TOURISM

 UNIVERSITY STUDENTS’ ATTITUDE TOWARDS ENTREPRENEURSHIP

Disadvantages of Entrepreneurship

Entrepreneurs do face a few challenges. However, each of these can be overcome

and even turned into an opportunity through careful planning and a positive mindset. Here
are a few examples:

 Uncertain income
 Demands on your time
 Possibility of a failed business
 Building a customer base
 Risk of future financial instability
 Attracting startup investors
 Increased responsibility
 High stress level

1.1 Significance

Entrepreneurship education can provide students with technical skills and managerial
skills, but most importantly should cultivate entrepreneurial intent among them, which
ultimately increases their tendency to start their own enterprise. Entrepreneurs are assets to
many nations as they contribute towards innovation, job creation, and enhanced standard of
living and the best way to promote entrepreneurship is to make people aware of it by
educating them.

1.2 Statement of problem

The awareness of entrepreneurship among the universities may not be of the interest
of the students. They may be got influenced by their parents or friends but some won’t have
the same interest as everyone. This study is conducted to analyze the attitude of university
students towards entrepreneurship.

DEPARTMENT OF TRAVEL AND TOURISM

 UNIVERSITY STUDENTS’ ATTITUDE TOWARDS ENTREPRENEURSHIP

1.3 Objectives

 To understand the desirability, feasibility and intention to create a new firm.

 To identify if there is relationship between the student’s gender and the
desirability, feasibility and intention to create a new firm.
 To understand if parent’s occupation in relation to the interest of students to
pursue entrepreneurship.

1.4 Scope

This study will be conducted on the basis of samples collected from students from
different universities of Kerala mainly from Mahatma Gandhi University (MGU), University
of Kerala and Calicut University.

1.5 Research methodology

Population : This study covered the geographical

boundary of Kerala
Sample Size : 50

Sampling Method : Convenience Sampling

Data Collection Method : Primary data is used for data collection

with the help of questionnaire

Tools For Analysis : Percentage Method

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 UNIVERSITY STUDENTS’ ATTITUDE TOWARDS ENTREPRENEURSHIP

1.6 Limitation of study

 Most of the primary data required for the present have been collected from selected
respondents through the survey methods and therefore subjected to the normal error
inherent to the social survey due on the reporting of data by the respondents.
 Even though all measures have been taken to verify the reliability of data possibility of
such error cannot be completely avoided. The present study is limited to the analysis.
 The study was conducted within a time period of two months.

1.7 Chapterisation

1. Introduction
2. Review of literature
3. Conceptual theory
4. Data collection and interpretation
5. Finding conclusion and suggestions

Conclusion

Bibliography

Appendix

DEPARTMENT OF TRAVEL AND TOURISM