An entrepreneur is that economic actor who breaks the statics to push the economy toward development.
-- Joseph Schumpeter
Creative destruction, as theorized by Joseph Schumpeter in 1942, is at the core of capitalism. The incumbent, most often inefficient, goods, production processes and organizations are replaced by efficient ones – a process known as innovation. This process results in business cycles, pushing the envelope of economic development with every cycle of replacement. And at the heart of this process is an entrepreneur.
Horse carriages were replaced by cars; pigeons were replaced by wires; wires were replaced by handheld devices; paper was replaced by computers and human labour is being quickly by robots. These ‘gales of creative destruction’ that altered the life of human beings are the results of entrepreneurial zeal. At every stage a certain entrepreneur has been the harbinger.
Entrepreneurs create new business, with the help of technology that increase productivity and thus contribute to economic development, followed by economic growth. Entrepreneurship converts factors of production into wealth by value addition. Thus, industrialization of a society (by extension a country) depends on the quality of entrepreneurs. Entrepreneurs contribute towards the development of a country by optimum utilization of resources.
Humans beings have turned entrepreneurs as early as 17,000 BC. The first entrepreneurs were traders and merchants, practicing the classing method of selling salt in forests and honey on shores. In India, the earliest traces of entrepreneurship are in the Vedic ages. In that era, entrepreneurship mostly created artisans and craftsmen. India becomes an attractive hub for the new ventures in the recent times due to high economic growth. As Indian start-up ecosystem is booming, students are looking for ways to explore into this new career option.
BBA (Entrepreneurship) focuses on to develop an entrepreneurial mindset among the start-up aspirants. Regular conversation with entrepreneurs, case studies and the internship will help the students to evaluate the situation and identify the feasible business opportunity in their interest area. The bouquet of subjects is offered for the holistic development of the student. It includes courses like Creativity and Innovations, Technological Entrepreneurship and Corporate Entrepreneurship which helps the one to develop creative thinking and manage team in difficult times. Courses like, Business Modelling and Business Plan, Group Entrepreneurship and Self Help Groups, Lean Startup helps the one to grow sustainable business plan. Marketing Strategies for Entrepreneurs, Funding for Entrepreneurs and Risk Management in Entrepreneurship provides knowledge on business practices to start a business.
This programme best suits the students with creative thinking, innovation skill and business acumen. The BBA Entrepreneurship prepares one to start a new venture or professionalize the family business. Additionally, graduate gets opportunities to work as a business consultant, new venture developer, management analyst and Franchise Managers etc.