Article : Creating Entrepreneurship – A Practical & Field Assignment Approach

Title

Creating Entrepreneurship – A Practical & Field Assignment Approach

Author

Vishal Thelkar

It an age-old debate in the business world: Is entrepreneurship a skill that can be taught? Research in the field of entrepreneurship has improved by leaps and bounds in recent years, so educators can do much more to help entrepreneurs avoid common problems and pitfalls. Starting and running a business requires skills that a person can only develop in the real world, not in a classroom, setting everything from dealing with many different types of people to handling the constant uncertainty that so often comes with a start-up company. The basic purview of this paper is to remove this belief form the mind of those who joins management education with a belief that a management education will help them in setting a new business or taking a business to the next level. The most favorite notations to avoid common Pitfalls given by Peter Drucker are discussed in the paper. Then there's the argument that failures and mistakes are an inevitable and, indeed, valuable part of an entrepreneur's education. That line of thinking ignores the fact that many types of failure are predictable and avoidable. The Practical & Field model for removing this barrier of understanding the risks are discussed in details. Converting an Idea into Opportunity using a 5Q model provides a practical approach and confidence to the students. Quick assessment by providing a back of the envelop model for testing the risk and thinking beyond the hidden wall and finally developing a sense of continuous evaluation by providing guidelines as close to heart model.

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