In India there are many universities from which a number of graduates pass out every

year in all streams of education. All students perusing their education hope to get a good

job in the flourishing economy. Most of the students may be getting jobs of their choice

and the rest of students then think for other activities of earning money. The other

activities could be various kinds of business activities. The percentage of these people is

again very less compared to those who give preference to paid/salaried job. The basic

reason behind this is our education system which does not concentrates on development

of entrepreneurship. At present Indian economy is growing on an average nine to ten

percent every year which creating ample scope for all kind of business activities.

The purpose of this article is to explore different themes within entrepreneurship

education via the use of a systematic literature review (SLR). Systematic literature

reviews are recognized methods for conducting evidence-based policy. The particular

approach to the SLR used in this study is explained and the article explores the findings

outlining a thematic framework drawn from narrative coding. The findings support the

conclusion that entrepreneurship education has had an impact on student propensity and

intentionality. What is unclear is the extent to which such education impacts on the level

of graduate entrepreneurship or whether it enables graduates to become more effective

entrepreneurs. The findings also highlight a lack of consensus on what entrepreneurship

or enterprise education actually ‘is’ when implemented in practice.

KEYWORDS: education; entrepreneurial learning; entrepreneurship education;

Entrepreneurs shape economic destiny of nations by creating wealth and employment,

offering products and services, and generating taxes for governments. That is why

entrepreneurship has closely been linked to economic growth in the literature on the

subject. Entrepreneurs convert ideas into economic opportunities through innovations

which are considered to be major source of competitiveness in an increasingly

globalizing world Economy. Therefore, most governments in the world strive to augment

supply of competent and globally competitive entrepreneurs in their respective countries.

While developed nations have a reasonably good pace of entrepreneurial supply, most

developing countries suffer from dearth of such entrepreneurs. This is one of the reasons

for the poverty in developing countries, despite their rich resource endowments.

India has been growing at a relatively high rate in the last few years, and is likely to be

the largest economy in the world by 2050. Unlike most of the developed economies,

India is a young country with about 63 per cent population currently being in the working

age group of15 to 59 years. This is a plus factor in its favor as studies have found that

nascent entrepreneurship prevalence rates are highest in the 25-34 age groups. But, this

demographic dividend could prove to be its albatross if we are not able to engage our

youth in creative pursuits through developing appropriate skills, including

entrepreneurship skills.

As of now, only about 5-6 per cent youth have access to some kind of skills. The Indian

society, by and large, has a distinct preference for service/decent job, that

Provides economic security and access to power that be. Youth get exposure to this kind

of pro-service culture since childhood. They grow up with a job-oriented mind-set, and

seldom think of entrepreneurship as a career. Our educational system also rarely exposes

the students to entrepreneurship; prepares them for a job instead. Even if someone with a

high entrepreneurial aptitude wants to set up a business, she/he is discouraged by a host

of adverse factors: lack of adequate access to information on setting up and operating a

business, procedural hurdles, lack of start-up funds, lack of adequate networks and

mentoring support, difficult access to technology, lack of a supportive system,

operational difficulties, and the nightmare about the consequences of failure. These

factors loom large

India’s strength is availability of Intellect manpower, keeping our growing global

aspirations in view. The relationship with the rest of the world can be expanded by a host

of strategic issues like energy, access to market, technology and security. We can connect

these aspirations by providing the Management Education with a focus to grow

entrepreneurs. Business Schools should provide training to MBA Aspirants through

entrepreneurial education to foster economic development. Imbibing entrepreneurial

skills in business management students will develop an entrepreneurial culture in country,

which will lead to balanced economy.

Considering this issue, through a primary study the extent of percolation of

entrepreneurship development in overall management education is analyzed. The growth

of management education generally and entrepreneurship education specifically, is

needed as a core activity for academic investigation and as practical activity in the private

and public sectors. The issues pertaining to entrepreneurship, management, stakeholders,

customer, personal and corporate governance will be taken up for analysis and also the

pivotal role of business in environment, local cultures and society as a whole is

examined. The study reveals a gap between trained business graduates and the

requirement of the modern and globalized need of economy with respect to

entrepreneurship development in our country.

Keywords: Management Education, Entrepreneurship Development

This article describes how a management institute was transformed from knowledge

Disseminator into an institutional entrepreneur. For the first 20 years of its existence the

Institute, based in Geneva, offered a one-year management development program for

groups of 25 to 30 participants at early post-experience level. The Institute was subsided

for about80% of its budget. Given the small number and junior level of participants, the

impact of the Institute on the companies employing its graduates was limited. In the next

twenty years thanks to ‘fortunate discoveries’ the Institute was transformed into an

institutional intellectual entrepreneur. It had some 1200 people going through various

programs per year, had a visible impact on some of its 50 Business Associate companies

in all continents. The second part describes how, using the experience of Geneva

Institute, a concept was developed on how a country in transition could complete its

economic transformation through management education. This would be done by

educating, for a critical number of companies, board members, chief executives plus

selected upper level executives, to create a critical massif people within each company

with common management language, shared concepts, purposes and complementary

knowledge. This would enhance greatly the effectiveness of selected corporations, which

would also act as role models and create a pull effect on many other enterprises.