IIMA has done it again. First the Laloo Yadav's class and now this. One more innovative process has come from the IIMA stable. This time, India's most admired B-school has declared placement holiday for 2 years. What it means is that a graduate passing out in 2007 may opt out of the placement process in 2007 and instead, participate in the placement process in 2008 or 2009. This is done mainly to promote entrepreneurship among it's students. This has mitigated the risk associated with entrepreneurship and as a consequence, more and more no. of students may and will decide to go solo. This is really good and I hope other B-schools (and even IITs) follow this example.
Why this is so good? Just supposing if noone ever bothered to take risk in the Silicon Valley, then there'll be no Google, Hewlett-Packard, Microsoft, etc. Again, ask why the American software companies are product companies and why Indian software companies are services companies? Right, the answer is entrepreneurship. But why in America and not in India? It's not because they're more intelligent than us or they're more resourceful. These parameters are same. It's because they're not averse to risk taking like we Indians do. But why are they not averse to risk taking? Because of the prevailing atmosphere out there. First, sociological factor... America has a very high standard of living, so they can take more risk. In India, this is not so. If you want to start ur own business in India, the major opposition will be from ur well-wishers (family, friends, etc.) Because a person without a secured job in India is considered to have a very high liability. Second, it is the support that they receive - from the faculty, industry, etc... I don't really know but I don't think that's the scenario in India, what with all the Red Tapism, skepticisms and all.
But things are changing in India. India is in an unprecedent path of growth. Never before has the condition more favorable for entrepreneurship in India. Every sector is booming in the Indian economy, so there's a high probability that a very good idea will succeed now than before. And IIMA has taken that initiative to provide the support to it's young entrepreneurs. Kudos to IIMA.
On the flip side (everything has a flip side), some people may argue that this step will make the young entrepreneurs take things lightly and not concentrate enough in their venture, and so, their ventures will more likely fail. I say this is bullshit. Noone will throw away 2 yr's package (will amount to about Rs. 20 lakhs, going by their average salary) if they're not serious. If they somehow fail in their venture, they can always fall back on their old alma mater. In fact this removes the fear from their mind and they can work with more positive attitudes, and belieive me, I wouldn't be surprised if none of the students who decided to go solo this year come back for placement the next year and the year after.
Time to wind up. First time, I've written on a serious note. Must be the cycle of the moon, after all, I'm a Cancerian. Finishing with this beautiful quote...
"If you want to feed a person for a day, give him a fish but if you want to feed him for the rest of his life, teach him how to fish. If you don't know how to fish but wants him to learn how to fish on his own, send him to IIMA."
Au Revoir,
Bij Chabs
Why this is so good? Just supposing if noone ever bothered to take risk in the Silicon Valley, then there'll be no Google, Hewlett-Packard, Microsoft, etc. Again, ask why the American software companies are product companies and why Indian software companies are services companies? Right, the answer is entrepreneurship. But why in America and not in India? It's not because they're more intelligent than us or they're more resourceful. These parameters are same. It's because they're not averse to risk taking like we Indians do. But why are they not averse to risk taking? Because of the prevailing atmosphere out there. First, sociological factor... America has a very high standard of living, so they can take more risk. In India, this is not so. If you want to start ur own business in India, the major opposition will be from ur well-wishers (family, friends, etc.) Because a person without a secured job in India is considered to have a very high liability. Second, it is the support that they receive - from the faculty, industry, etc... I don't really know but I don't think that's the scenario in India, what with all the Red Tapism, skepticisms and all.
But things are changing in India. India is in an unprecedent path of growth. Never before has the condition more favorable for entrepreneurship in India. Every sector is booming in the Indian economy, so there's a high probability that a very good idea will succeed now than before. And IIMA has taken that initiative to provide the support to it's young entrepreneurs. Kudos to IIMA.
On the flip side (everything has a flip side), some people may argue that this step will make the young entrepreneurs take things lightly and not concentrate enough in their venture, and so, their ventures will more likely fail. I say this is bullshit. Noone will throw away 2 yr's package (will amount to about Rs. 20 lakhs, going by their average salary) if they're not serious. If they somehow fail in their venture, they can always fall back on their old alma mater. In fact this removes the fear from their mind and they can work with more positive attitudes, and belieive me, I wouldn't be surprised if none of the students who decided to go solo this year come back for placement the next year and the year after.
Time to wind up. First time, I've written on a serious note. Must be the cycle of the moon, after all, I'm a Cancerian. Finishing with this beautiful quote...
"If you want to feed a person for a day, give him a fish but if you want to feed him for the rest of his life, teach him how to fish. If you don't know how to fish but wants him to learn how to fish on his own, send him to IIMA."
Au Revoir,
Bij Chabs
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