1. Asia Pacific Journal of Research Vol: I Issue I, January 2014
ISSN: 2320-5504, E-ISSN-2347-4793
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IMPACT OF INDIAN MANAGEMENT EDUCATION IN DEVELOPING
ENTREPRENEURIAL ASPIRATIONS AND ATTITUDES AMONG MANAGEMENT
STUDENTS
Dr.B.Gangaiah, Assistant Professor, Department of Business Management,
Yogi Vemana University, Kadapa – 516003, Andhra Pradesh, India.
Juturu Viswanath, Research Scholar, Department of Business Management,
Yogi Vemana University, Kadapa – 516003, Andhra Pradesh, India.
ABSTRACT
The new industrial policy 1991 focused on the rapid industrial developments in India. This led to
the drastic economic transformations in India. The new terms called Liberalization,
Privatization and Globalization rightly coined with the background of Indian economic context.
Indian education system faced a typical phase of paradigm shift as per the global economy
demands. New courses were introduced as per the industry needs. During the same time
Management Education in India also gained huge demand and reputation. Indian Institute of
Management’s (IIM’s) number significantly increased from 1990’s to 2012. Indian industrial
and service sectors continuously registering a progressive growth rates, this is one side to a coin
and the other is talent crunch. It requires a micro level study on Indian management education.
The reach of IIM’s and B-Schools in India is another issue, typically Private Colleges (affiliated
to universities) or B-grade colleges are playing vital role in proving management education. In
short, there are many problems associated with the Indian management education in developing
and motivating the students to become entrepreneurs. Hence, this paper discusses all those
issues and concerns with an in-depth analysis.
Keywords: India, Global economy, IIM‟s, Affiliated colleges, Management education, Students.
Introduction:
With the mushroom growth of management colleges in India, the quantitative improvisations
gradually increased. The Indian management education contributions towards socio-economic
considerations are typically not up to the mark due to many reasons. Basic objective of
management education is to inculcate business knowledge both in terms of theoretical and

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practical, developing decision-making skills, developing entrepreneurial attitudes among
students, filling gap between the demand and supply of human resources i.e. management
professionals to the industries. The real picture of management education in India is quiet
different with the above said objectives. In this regard the role of university affiliated managed
colleges, faculty, students is decisive.
Qualitative aspects are least considered, simply sending the students out has become the prime
motto of the management colleges. The problem areas in this regard are clearly visible; all these
situations led to unmatched results of management education towards industry and society
requirements. Indian society needs the entrepreneurs than the workers. Basically entrepreneurial
attitude begins with the rightly tuned and directed aspirations. Indian government is ever ready to
encourage the entrepreneurs through providing initial and developmental assistance. Here the
user is not yet prepared! So, where is the problem lies here, it needs an in-depth thinking,
analysis and presenting practical recommendations.
Literature Review:
Management education in India formally began in 1953 at the Indian Institute of Social Welfare
and Business Management (IISWBM) –the first B-School established by Government of West
Bengal and Kolkata University. However, a few institutions like Tata Institute of Social Sciences
(1936) and Xavier Labour Research Institute (1949) had already started training programmes for
managers in personnel function well before the formal launch of first MBA programme at
IISWBM. IISWBM experiment of offering two-year, full-time MBA programme was followed
by Delhi University (1955), Madras University (1955), Bombay University (1955) and Andhra
University (1957). A few other institutions like Administrative Staff College of India Hyderabad
(1956), All India Management Association (1957), and National Productivity Council (1958)
were established to promote excellence in management practices, research and education. The
Government of India launched Indian Institutes of Management (IIMs) as centres of excellence
in Management education in early 1960s. The first Indian Institute of Management was set up in
Kolkata in 1961 and second in Ahmedabad in 1962. Elite club of IIMs added new members in
1973 (Bangalore), 1984 (Lucknow) and 1997-98 (Khozhikode and Indore). Currently there are
12 IIMs in the country. Over the years, IIMs have evolved as great brand in Management
education across the globe and an enviable benchmark for other institutions in terms of quality of
faculty, students, curriculum and placement.
Structure of Management Education in India:
There are presently six types of management education organizations. These are:
(1) Indian Institutes of Management (IIMs) set up by the Government of India.
(2) University departments of management studies.
(3) Colleges (government or private) affiliated to universities.
(4) Private or government institutes approved by the All India Council for Technical Education
(AICTE).
(5) Private colleges or institutes not affiliated to any universities nor approved by AICTE and
(6) Private colleges or institutes offering MBA courses in India in collaboration with foreign
universities, where degree/diploma/certificate is awarded by the foreign university.

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Table 1: Indian Management Colleges Statistics:
Sl.No Zones MBA PGDM
1. Western 419 50
2. Southern 395 06
3. South Central 945 27
4. South West 277 24
5. Northern 525 85
6. North West 472 37
7. Eastern 150 30
8. Central 373 29
Grand Total 3556 288
Source: AICTE, 2013.
The statistics of Management Colleges in India shows that there are number of sufficient
institutions which offering management education.
Table 2: Growth of AICTE approved Technical Institutions in last five years
Source: www.aicte.ernet.in
The growth of Management Colleges in India registered a progressive trend. From 1052 (2005-
06) to 1940 (2009-10). This indicates the growing demand for the management education in
India.
Table 3: Intake of students for admissions in MBA and Ph.D Courses
AICTE approved intake of students ( seats available for
admissions)
Program Level of Course 2011-12 2007-08 Five year
change
Five year
change (%)
Management Post Graduate 249,710 89,369 160,341 179%
Fellowship & PhD 178 90 88 98%
Source: AICTE *World Bank, CIA#NASSCOM adopted from: www.DrEducation.com
The Intake of students into MBA and Ph.D courses is increased at the rate of 179% i.e. 89,369
(during the period 2007-08 to 2011-12) for MBA Program at Post Graduation level, with the
98% growth rate in Ph.D programs (during the period 2007-08 to 2011-12).
Year Management
2005-2006 1052
2006-2007 1132
2007-2008 1149
2008-2009 1523
2009-2010 1940

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Entrepreneurship Development: Indian Context:
The word „entrepreneur‟ is originally taken from the French language where it originally means
an organizer of musical or other entertainments. The word has been in use since the 16th century,
where it was applied to those who were organized and engaged in military expeditions. In the
17th
century the word has been extended to cover architects and contractors engaged in civil
engineering activities such as construction, fortification and public works. The old oxford
dictionary coined the term entrepreneur as “the director or a manager of a public musical
institution, one who gets- up entertainment, especially musical performance”. It was only in the
beginning of 18th
century that the word was used to refer to economic aspects. Richard
Cantillion, an Irish man living in France was the first person introduced the term entrepreneur, in
the early 18th century to refer the word entrepreneur to economic aspects. Various experts in
their researches have given different meanings and views to the word entrepreneur.
Entrepreneurship has acquired a special significance in the context of economic growth and
industrial development in the rapidly changing socio economic and socio cultural climates both
in developed and developing countries. Small scale industry has emerged as the most dynamic
segment with 55 percent of overall values of industrial production. This sector provides 42
percent employment opportunity both for literate and illiterate. It is a state of healthy balance in
the country in which entrepreneurs make their respective contributions to achieve the economic
development of the nation. With the government policy of encouraging the entrepreneurs, a large
number of business enterprises were established in recent years.
Regulatory Body:
Regulation of Management education began in 1987 when All India Council for Technical
Education (AICTE) was formed and management education was taken as part of the technical
education. AICTE helped in regulating the B-Schools in terms of governance, accountability,
transparency in admission and program administration, infrastructure, students-faculty ratio,
curriculum, library, laboratories, grant-in-aid for organizing seminars, conferences, faculty
development programs, setting up of entrepreneurship development cell, institute-industry
interface cell etc.
National Knowledge Commission’s Report (2006) on Indian Management Education in Brief:
National Knowledge Commission‟s report on Management Education advocates a greater role of
industry in promoting research programs in B-schools as they are the major beneficiaries in
terms of steady supply of efficient manpower. Indeed, the industry can sponsor research
programs, set up dedicated research chair professorships in specific domains, grant fellowships
to doctoral candidates and open their gates for collaborative research projects. Besides, the
corporate houses may also encourage some of their senior professionals to participate in research
programs and pursue higher education. B-Schools are unlikely to handle the shortage of faculty
without active support from industry. The Government of India as well as state governments
should also strengthen doctoral research in Management by increasing intake of students in Ph D
programs in central as well as state universities and increasing the number of Junior Research
Fellowships besides increasing fellowship grants.
There are several challenges of management education, which require change in the character
and structure of management education and integration of management education with the
corporate sector. As the pasture of management is dynamic in nature, new tools and techniques
are always being introduced to improve the competence, efficiency and prosperity of any

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organization. So is the case with management education. Professional skills should be acquired
with practical knowledge, gradually making them experts in diagnosing the symptoms of
patients. Just by confining themselves to textbooks, students may not understand business
situations as each situation is unique and requires exceptional solutions. Management education
in India is not very old; it has taken its practical shape during early sixties with establishment of
Indian Institute of Management to train the people with management concepts. After that many
institutions, universities have also come forward to provide management education to cater the
increasing demand of entrepreneurs and managers. The term „attitude‟ means mentally prepared
state for any known subject. It is a subjective consciousness and that is affected by the
environment. The attitude is a kind of lasting inclination. It can be an idiosyncrasy that could be
shaped or changed via experience or study. The attitude toward entrepreneurship is an
individual's concept about entrepreneurship, assessment and inclination towards entrepreneurial
behavior or self-employment. If the individual has a strong attitude for starting a new venture the
relationship between attitude and behavior is strong. This individual has a strong inclination
towards entrepreneurship.
Significance of the Study:
Quality of human resource plays a vital role in the nation‟s development. Sound educational
system definitely improves the quality of human resources; in this regard the management
education demands a great consideration towards socio-economic development of the country in
form of developing entrepreneurs i.e. transformation from student to entrepreneur. But in reality
this transformations are not effectively delivered. Hence, this situation demands a study
regarding assessing the impact of management education in developing entrepreneurial attitudes
through identifying the reasons for this gap and to devise various measures to develop and
sustain the entrepreneurial aspirations and attitudes among the management students.
Objectives of the Study:
The following are the objectives for the study:
1. To uncover various factors affecting the entrepreneurial aspirations and attitudes among
management students.
2. To assess the influence of current management education on motivating management
students towards entrepreneurial considerations and
3. To ascertain the impact of management education in managing entrepreneurial
aspirations among management students.
Methodology:
Non Probability Convenience Sampling method was adopted to collect the sample. Both primary
and secondary data used for the study. Secondary data is collected from various websites and
published articles in various national and international journals. Primary data is collected through
questionnaire, which is specifically designed with an intention of getting responses towards
entrepreneurial attitudes among management students. The sample is collected from the
Rayalaseema Region consists of 4 districts namely Anantapur, Chittoor, Kadapa and Kurnool
from Andhra Pradesh State. 25 Management Colleges are considered for the study and the
sample includes both teaching fraternity and course pursuing students. The size of the sample is

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180 equally chosen from the four cities i.e. 45X4, includes 120 students and 60 faculty members.
The tabulated data is analyzed through simple percentages and correlation coefficient.
Data Analysis:
Table 4: Respondents Perception towards Factors affecting the Entrepreneurial aspirations and
attitudes among management students with reference to Indian Management Education:
S.No. Factor Impact
Yes No
1. Family and Social Groups 123(68.33) 57 (31.66 )
2. School and College Environments 148 (82.22 ) 32 ( 17.77)
3. Self-Confidence (being independent, self-reliance, sincere) 162 (90 ) 18 (10 )
4. Situations 133 ( 73.88) 47 (26.11 )
5. Frequent Industrial Visits and Interactions with upcoming
entrepreneurs
164 (91.11 ) 16 ( 8.88)
6. Inspirational Teaching concerns on entrepreneurship
ideologies development
159 ( 88.33) 21 (11.66 )
7. Cultural Influences 138 ( 76.66) 42 (23.33 )
8. Entrepreneurial Development Programs 166 (92.22 ) 14 (7.77 )
9. Social Media 157 (87.22 ) 23 (12.77 )
10. Risk-taking Propensity 165 (91.66 ) 15 ( 8.33)
Source: Field Survey (figures in the parenthesis indicates percentages)
Table 4 shows the perception of respondents towards entrepreneurial aspirations and attitudes
with regard to management education. All the above mentioned factors possess high impact on
developing entrepreneurial aspirations and attitudes among management students here the high
influencing factor is entrepreneurial development programs (92.22%).
Table 5: Influence of Management Education on motivating Management Students in
developing Entrepreneurial Aspirations and Attitudes:
S.No. Aspect
Responses
Faculty (60) Course Pursuing Students
(120)
Yes No Yes No
1. Industrial Visits 43 (71.66 ) 17 ( 28.33) 98 (81.66 ) 22 (18.33)
2. Curriculum 55 (91.66 ) 05 (8.33 ) 95 (79.16 ) 25 (20.83)
3. Management Games 58 ( 96.66) 02 ( 3.33) 85 ( 70.83) 35 (29.16 )
4. Assignments 42 ( 70) 16 (26.66 ) 89 ( 74.16) 31 (25.83 )
5. Learning Aspect 51 ( 85) 09 ( 15) 93 ( 77.5) 27 (22.5 )
6. EDP-Wing in the College 46 ( 76.66) 14 ( 23.33) 101( 84.16) 19 ( 15.83)
7. Local Industry Connectivity 45 (75 ) 15 ( 25) 91 ( 75.83) 29 (24.16 )
8. Interactions with Successful Entrepreneurs 52 (86.66 ) 08 ( 13.33) 106(88.33 ) 14 (11.66 )
9. Project Management 56 ( 93.33) 04 (6.66 ) 94 ( 78.33) 26 (21.66 )
10. Case-Method of Learning 49 ( 81.66) 11 ( 18.33) 81 ( 67.5) 39 ( 32.5)
Source: Field Survey

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Table 5 presents the motivating facets of management education on developing entrepreneurial
aspirations and attitudes among students. Both faculty and students responded positively towards
various key elements of management curriculum, in fact stresses the need for imparting quality
concerns in the education system.
Table 6: Impact of Management Education in Managing the Entrepreneurial Aspirations and
Attitudes among Management Students:
S.No. Teaching Fraternity Responses Yes No
1. Majority of the students are interested to take-up
entrepreneurial activities.
12 (20 ) 48 ( 80)
2. Current academic curriculum is matching with industry
needs.
09 ( 15) 51 ( 85)
3. The student quality is up to the mark. 24 ( 40) 36 ( 60)
4. Active participations in self development programs. 14 ( 23.33) 46 ( 76.66)
5. Institutions are cooperating in establishing and
maintaining EDP-cells.
06 (10 ) 54 ( 90)
6. There are no any problems with the teaching and
learning factors.
17 ( 28.33) 43 ( 71.66)
7. Risk-taking orientation is considered as key element for
entrepreneurial transformations.
42 (70 ) 18 ( 30)
8. Students possess higher degree of Social – Learning –
Adjustment
15 ( 25) 45 ( 75)
9. Industrial visits are perfectly designed. 19 (31.66 ) 41( 68.33)
10. Most of the academic assignments are intended to
develop entrepreneurial aspirations among students.
11 ( 18.33) 49( 81.66)
11. Students are well connected with e-social networking
sites and internet usage.
32 ( 53.33) 28( 46.66)
12. Student‟s entrepreneurial aspirations are identified and
managed.
18 ( 30) 42( 70)
13. Sessions are specially designed for developing and
guiding entrepreneurial ideas among students.
08 ( 13.33) 52( 86.66)
14. Present management education system is helping the
students in recognizing need and developing
entrepreneurial attitudes.
16 ( 26.66) 44(73.33 )
15. Existing management education system assisting us to
perform our role as a mentor for the students towards
entrepreneurial activities engagement.
23 (38.33 ) 37( 61.66)
Source: Field Survey
Table 6 shows the teaching fraternity responses towards the role of management education in
developing entrepreneurial attitudes and aspirations. In reality there are many problems exists
with the present management education. They expressed to have special attention and assessment
on these issues.

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Table 7: Correlation Coefficient between the Respondents Response between the Management
Education and Entrepreneurial Aspirations and Attitudes:
Respondents Teaching Fraternity Students (120)
Males Females
No. of Respondents 60 78 42
Impact of Management
Education on Developing and
Sustaining Entrepreneurial
Aspirations and Attitudes
45 59 33
Correlation Coefficient 0.999015
Source: Field Survey
Table 7 shows the close relationship between the management education impact and developing
and sustaining entrepreneurial attitudes among management students. All the respondents
positively reacted towards the role of management education in developing entrepreneurial
attitudes among students.
Findings:
Majority of the respondents accepted (with higher degree of significance) the influence of factors
like family and social groups, school and college environments, self-confidence, situations,
frequent industrial visits, interactions with upcoming entrepreneurs, inspirational teaching,
culture, entrepreneurial development programs, social media, risk-taking nature on developing
entrepreneurial aspirations and attitudes among management students with regard to Indian
management education (Table 4). The high influential facets which influences the students
towards developing entrepreneurial aspirations and attitudes are industrial visits, well designed
curriculum, participation in management games, effective assignments, learning aspect of the
faculty and students, Entrepreneurship Development Program wing existing in the college,
connectivity with local industries, interactions with successful entrepreneurs, project course work
and case method of learning (Table 5).
Most of the students are not interested to take up entrepreneurial activities after the completion
of the course. Present academic curriculum unmatched with the industry needs, more over the
quality of the student is not up to the mark. Majority of the respondents are not actively
participating in the self development programs like attending seminars, conferences etc. Even the
institutions are not taking initiation towards establishing EDP cell in the colleges. There are
problems with the teaching and learning aspects. Risk-taking orientation considered as key step
towards transformations of entrepreneurial aspirations into a reality. The students don‟t possess
the social-learning-adjustment degree. Industrial visits are not effectively designed.
Entrepreneurship attitude development element is least preferred in the academic assignments.
Respondents are aware of usage of internet towards knowledge gathering. Teaching fraternity is
unable to identify and manage student entrepreneurial aspirations and attitudes. No special
attention on conducting sessions on entrepreneurial ideas development among the students.
Existing management education system is not giving much scope for recognizing the need and
developing the entrepreneurial interests among the young managers and not in a position to

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perform their role as a mentor (Table 6). Correlation coefficient (0.999015) shows a positive
relationship between management education and entrepreneurial aspirations and attitudes
developing and sustaining (Table 7).
Practical Implications and Conclusions:
The present globalized business environment is peculiarly constant with dynamic changes. The
role of management education is quiet vital in providing quality human resources with adequate
business acumen. Beyond all these identifying, developing and sustaining entrepreneurial zeal
among the management students is highly required. There are many challenges and issues in
front of the management teaching fraternity and students towards adopting this dynamics.
Therefore, with reference to above findings the following suggestions are recommended towards
maximizing impact of management education system on entrepreneurial training and effective
transformations from a student to entrepreneur:
Curriculum should be revised continuously with the changing business needs. The regulatory
bodies like University Grants Commission (UGC) and Universities must involve continuously in
designing new programs for entrepreneurship development. New specializations are needed to be
implemented in the area of entrepreneurship development. Assessing the student ideologies on
the entrepreneurial activities through focused assignments. Frequent Organizing of
entrepreneurship games for developing entrepreneurial aspirations among management students.
Planning and arranging sessions for entrepreneurial idea generation among the students through
discussions and addressing rightly the concerned issues. Taking the assistance of successful and
young (upcoming) entrepreneurs for organize those sessions.
Adopting change management strategies are required to manage the entrepreneurial attitudes of
the students. The faculty should act as a change agent in understanding, assessing and directing
the entrepreneurial aspirations among the management students. Developing Entrepreneurship
Development Program (EDP) cell in the institution; coordinating with the district industrial
centers and local enterprises. Taking steps towards creating a committee consisting of members
from local entrepreneurs, faculty and course director; aiming counseling, guiding and managing
the students towards understanding the significance and making ready to take up
entrepreneurship as a career. Designing effective industrial visits on continual basis intended to
promote entrepreneurial attitudes among students.
Proper usage of social networking sites to develop entrepreneurial ideas. The management
teachers have to change themselves as mentors to guide students. Analyzing the cultural-
situational influences on the students; taking initiatives to convert highly negative influencers
into positive. Project work period should be efficiently used through taking enterprising drafting,
dream venture materialization, finalizing a proposed venture documentation etc. Entrepreneurial
aspirations and attitudes should be considered in a socio-economic perspective of the nation.
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Dr.B.Gangaiah& Juturu Viswanath