Master or Slave...

Are management graduates meant to be corporate servants or corporate masters? As a responsible member of the student community, what steps would you take to promote entrepreneurship among B-school students? Suggest implementable solutions.

The word is "Excellence". One should try to achieve excellence in any sphere of his professional life, be it as an employee or as an entrepreneur. The aim is to achieve super normal economic profit, and one should put himself to use where such a feat can be achieved whether by being in the organization or by starting something of my own.

Another word is "Ownership". Do I feel the ownership in what I do? Am I joint owner of the work in which I am contributing? This ownership will bring out the zeal to tackle the problems in the path. There will always be obstacles on the way, both for an employee and for an entrepreneur. The problems one faces in both situations will be different but then overcoming them with conviction and zeal is needed.

We should aim at "Fit and Flat" organizations. There should be a Fit between the employee and an organization. So, eventually when the goals of the employee are met, the goals of an organization are also met. It should be flat to enable joint ownership of task. There should be both Ownership and Excellence. Further, the traditional definition of corporate servant is anyways blurring. The strict boss-employee relationship makes sense only where job definition is weak; where discipline defines your job more than creativity.

In today's ever dynamic environment it calls for more than just a static response. A management graduate has to look beyond what meets the eye and envisage the future. He has to be prepared for challenges, respond in the most creative manner, using his skills and motivating his team all along…. And once again be it in an organization or as an entrepreneur.

The fact is that the power to decide and command comes through hierarchy but that it is achieved through meritocracy. Also being a corporate master doesn't mean that you create an entrepreneurial venture for once and all. Corporate mastery is about cultivating leadership on a sustainable basis.
We should take examples of Apple, Google, and Microsoft; where innovation leads its way to management. The people who started the organization have taken a back seat and given the reins of organization into the hands of someone who knows how to run it better.

Finally, the argument shouldn't be viewed as a tiff between master and slave but that of people taking different choices. The ones with new ideas choosing to foster them while the ones with similar ideas and characters of a firm choosing to join it.

Although there are times when management graduate face hindrance in their dream for being an entrepreneur. Some obvious ones…
1. I got an idea… breakeven sales are pretty high… cant attain that with my little start-up
2. There is so much uncertainty here… rather be happy in tried and tested job scenario
3. It is an abyss… don't want to go on that path alone
4. I don't even have an idea of the issues that I will face… Any crashers or tutorials??

Most of the management graduates in India are from middle class families with a basic risk averse nature. We need to tell them that grass is equally green on the other side. They have the capability and ability, more than anyone else, to plunge in those unknown territories. There are a few ways in which we can overcome these inhibitions, or at least reduce the impact of perceived hindrances.

1. Placement holidays:
This model has been successfully implemented at IIMA, and I believe more campuses across India should begin such programs where a student can come back for campus placement after they have tasted the fruits of entrepreneurship.

2. Seed funding:
Globally, many venture funds look for ideas that have the potential to make it big one day. There should be an E-Cell (Entrepreneurship Cell) which will act as a single point of contact between the Venture funds and various initiatives taking place on campus. This will enable a venture fund to evaluate various proposals and also provide students with seed funds for their venture.

3. Sponsored mentorship program:
The question of how to do, what to do, when to do should be addressed in such a program. While one is working on a project, there should be a point of contact from industry (a venture capitalist or some industry expert or someone who started his firm not so long ago) to whom all such questions can be directed. An umbrella organization, like E-Cell or a colloquia cell, with a single motive to arrange for such interactions should be formed.

4. Courses:
The simulated classroom learning at B schools is designed with the objective of training the students for a world class corporate scenario. It is therefore essential to have a plethora of courses dealing with macro and micro aspects of managing new ventures. Ideally, the courses should be incorporated in the curriculum right from the beginning to foster the spirit of entrepreneurship so that at least every management graduate gives it a thought and tries to give this thought a concrete shape as well.

5. Meet thy Senior:
Initiative should be taken to arrange interactions with seniors, who have taken part in such an initiative. This will motivate students because they will be able to relate more and speak out their mind. This will help them clarify their doubts on a much informal level and sooth their nerves to some extent. This initiative can come under the purview of Colloquia cell, where they organize both formal and informal interactions