«

»

Jan
23

Driving Entrepreneurial Mindset Among Students – The FIIB Way

Entrepreneurs or not, changing corporate lifestyle and changing business problems demand entrepreneurial skills like risk taking, ownership, analytical decision making in all the managers of today and tomorrow. At FIIB, we realize the importance of entrepreneurial ecosystem early, that is why we introduced  Meraki – FIIB’s B-Plan Competition which is turning 8 this year. We’ve also realized while Meraki discovers and encourages entrepreneurs across India and Pan-Asia, we as a B-School need to do more to inculcate the entrepreneurial mindset in MBA students. Read on to explore how we’re providing opportunities and resources for entrepreneurial minds. 

Why are entrepreneurial skills important?

Entrepreneurial skills help students who have the desire of starting their own businesses. Equally, they also teach those going into the established corporate world entrepreneurial skills, a strength for which recruiters of today are looking. Students often feel that entrepreneurship courses are not relevant to their career prospects if they are not inclined to pursue new venture creation in the near future. Little do they know the importance of having an entrepreneurial mind-set for growth and survival in today’s corporate sector.

What is the challenge?

There is a need for exposing students at an early stage in their education to  methodologies  that  make  them  aware  about  their entrepreneurial intentions before teaching them to systematically  validate  a  business  idea,  chisel  it  to  perfection  and take  it  to  market.  However  most institutions of higher education have courses which directly target  idea development, opportunity assessment, product development, value proposition, business plan preparation among other topics. There is negligible effort towards making students self-aware about their own entrepreneurial traits, attitudes and beliefs and their impact on ideation.

How can it be solved?

A  foundation  course  focusing  on developing  a  sync  between  the  Idea  and  the  Individual  by  making  students  self-aware  about  their entrepreneurial intentions (or lack of them), entrepreneurial and/or career aspirations and individual style preference while working in teams can set the tone right and sow the entrepreneurial traits early in a student’s journey. These three elements of the student’s personality will be synced to make the student aware of a synergy or dissonance so that corrective action as required can be taken.

The FIIB way of tackling the challenge:

Learning Through Theory – Courses

To address this gap, at FIIB, entrepreneurship is taught as required subject both in first and second term in the institute, inspired by the belief that entrepreneurship education is a viable tool for developing the entrepreneurial mindset. The foundation course focuses on entrepreneurial self-awareness and is titled Entrepreneurship Boot Camp. The feedback from the two batches has been extremely encouraging and students have been able to calibrate their aspirations , team style and intentions based on learnings from the course and accordingly work in the core course that follows and/or opt for an elective based on their interests. In the second semester students are taught a course titled Entrepreneurship and New Venture Creation (ENVC). The curriculum of the ENVC course is designed in  collaboration with the curriculum provided by National entrepreneurship Network (NEN) of Wadhwani foundation. In second year students have a choice of four elective courses on Entrepreneurship to choose from. These are courses are: 1. Entrepreneurship & Venture Capital 2. Social Entrepreneurship 3. Corporate Entrepreneurship 4. Entrepreneurship & Family Business.

A paper was presented by Dr. Deepak Pandit in the 20th Conference of Strategic Management Forum India on 25th Dec, 2017 at IIM Trichy showcasing this foundation course as an innovation in pedagogy in the area of Entrepreneurship education.

Learning Through Practice – Student Clubs

At FIIB, student clubs are another unique dimension where these learnings take shape into entrepreneurial traits. The 10 student clubs which cater to various domains and interests of the student like marketing, operations, english speaking etc., These clubs are student-driven and entrepreneurial in nature meaning the operations and management of the club are driven by student co-heads. In addition Student clubs are managed in the same way a business organization is. The co-heads act like the management to drive and plan for the annual events of the club with the help of their fellow club members. These are the signature events organized by each club every year:

 

Annual Event Description Student Club
Samavesh  Annual Cultural fest at FIIB where students learn about management through fun and cultural activities Cultural Club
Sustainability Summit The Sustainability summit provides a forum to deliberate on key issues to create Sustainability across all walks of life Jaagriti (Social Conscience Club)
Meraki Meraki is an annual Business Plan competition for students to showcase their talent for industry preparedness Udaan

(Entrepreneurship Club)

TEDxFIIB TEDXFIIB discusses ideas worth spreading through renowned speakers who have built a stage for themselves through their remarkable achievements. Cue (Public Speaking Club)
National HR Conclave Human Resource Conclave offer an interactive platform for meaningful discussion on the latest Trends in HR and its impact in the corporate workforce. Cynergy (HR Club)
National Marketing Conclave The National Marketing Conclave is an interactive forum to deliberate on contemporary Management practices and discuss the roadmap for future. Brand Rovers (Marketing Club)
OPex Conclave OPex Conclave is an initiative of FIIB Operation domain. The conclave deliberate on operational excellence and strategy for a sustainable Business Sigma Club(Operations and IB Club)
Finance Conclave Finance Conclave is an initiative of the FIIB finance domain. Eminent speakers deliberate on key issues related to the finance and Banking sector during the conclave. Fortune Stock Exchange (Finance Club)
Ranbhoomi Ranbhoomi is an annual sports event at FIIB. The students enthusiastically participate in the games and fun activities with spirit and pride. Sports Club

While organizing these events, each member is assigned a specific responsibility like planning, promotion, inviting speakers, volunteer coordination etc. These activities teach leadership skills, problem solving, and out of the box thinking which are also the top entrepreneurial qualities that people look for. This is how we help students practice what we teach at FIIB.