In the last couple of years, adding to the technology driven disruption, the world is witnessing a massive COVID-led transformation. As reported in the The Financial Time, countries across the globe have reported a boom in stratups against the backdrop of the ongoing pandemic, a surge partially attributed to the massive layoffs and uncertainty therein. There is a tremendous shift in the requirements for a formal sector job, and entrepreneurship, with its focus on creativity, initiative and critical thinking, is the burning need of the hour for equipping the budding managers of today to confidently maneuver the volatile and competitive work environment of tomorrow.
However, there is a catch in this opportunity, unless an individual is equipped with the right mindset and skills, entrepreneurship can turn out to be a bumpy road. Inculcating an entrepreneurial spirit in the youth of today thus becomes one of the fundamental responsibilities of the educational institutions of the contemporary times.
Whom do we think of is an entrepreneur? Perhaps, universally, the instant picture that strikes the mind is of a smart, suit clad youngster, with impeccable communication in a high rise steel and glass building, all set to pitch in his unique idea to investors. But, can we say that a countryside farmer making use of new technology and indigenous ideas for increasing the crop yield is any less than an entrepreneur? More often than not, we are caught up in appearances rather than the essence of entrepreneurial spirit.
Entrepreneurial spirit is a way of thinking, a mindset, an attitude to be on an active look out for change rather than passively adapting once things change. It is an approach that embraces innovation; critical questioning; problem recognition and utilization of knowledge to find a viable solution. It is about visualizing the big picture, being alert and agile, seeking out novel opportunities while shaking off the cloak of complacency without being satiated with past laurels. It is the hunger of taking calculated risks, sometimes rising and sometimes failing. Agile organizations are on a constant hunt for inquisitive employees exhibiting an entrepreneurial spirit, who dream for the stars and simultaneously have the courage and tenacity to realize their dreams.
A young country like India having almost 60 percent of its population in the working age group is in urgent need of enthusiastic and innovative entrepreneurs. But the advantage of having a young workforce will not be able to yield rich dividends if the youth of India is lacking the necessary entrepreneurial skills and spirit. Unfortunately, the prevailing education system in the country is churning out individuals who are job seekers rather than being job creators.
At IMS Ghaziabad, the focus of the legacy of 32 years has always been to equip the young minds with the skills of the 21st century imperative to successfully navigate the tough challenges of the current business environment. Multiple support systems are available in the institute for enabling the students to carry forward their unique ideas.
An array of innovative initiatives is in full swing to foster the culture of innovation. One such initiative is the Center of Innovation and Entrepreneurship (CIE) which is envisioned with the belief that that entrepreneurship can unleash the prospective inventive potential of India. With this belief, IMS Ghaziabad targets to help in the development of India’s entrepreneurial ecosystem by enabling easy and efficient interaction between its major components spanning students, working professionals, aspiring and existing entrepreneurs, mentors, angel investors, venture capital firms and corporate through interactive sessions, competitions, conferences etc. Having representation from students, faculty and experts, the mission of CIE at IMS Ghaziabad is to promote, sustain and practice the spirit of entrepreneurship and innovation among individuals by providing them a platform to convert their ideas into successful business. An incubation centre to help budding entrepreneurs work on their startups for developing into scalable, profitable and sustainable business is in pipeline.
Corporate Development and Excellence Center (CDEC) is the flagship training and consulting vertical of IMS Ghaziabad with an intent to provide world class training and consulting services to the organizations by providing bespoke offerings. We have recently kick started ‘Peer to Peer Mentoring’ sessions in collaboration with a reputed institute of Delhi University wherein students of IMS Ghaziabad will be coaching their fellow learners. The cumulative wisdom thus generated will give a further boost to creativity and learning for students of both the participating institutes.
At IMS Ghaziabad, numerous opportunities are provided to the students for advancing their skills in business development, competitive analysis and sustainability. A series of Guest Lectures, Seminars, Panel Discussions, Workshops, Surveys and Research activities are regularly organized to provide a holistic platform for interacting and networking with entrepreneurs, venture capitalists and others experts from the corporate world, thus acquiring capabilities in the process of developing creative products and services.
Higher educational institutions must make conscious efforts to depart from the conventional memory based learning and adopt a system that is more robust to foster independent thinking, creativity and innovation. With a cognitive transformation towards lifelong learning ability, IMS Ghaziabad is committed to nurture new age entrepreneurs and leaders, who are braced with the power of visualization and dreaming big while simultaneously exhibiting the virtues of empathy, gratitude and humility.