The buzz word Entrepreneur has quite a weight if you are a graduate from an IIM.The notion that venture capitalists or angel investors are ready to make investments and get their favorable returns is a misnomer.If we consider the legacy of the top 6 IIMs, There will be around close to 75000 people who graduated from these IIMs and just around 1% have taken a chance of an entrepreneurial stint. Of these there will be around 100 who have emerged successfully in their entrepreneurial voyage.
If we consider the parameters such as risk, return and degree of freedom, the risk associated with a high admission fees which costs around 15 lakhs for two years, mostly funded by a bank which charges compounded interest rate is high.There is hardly an incentive to take risk to follow one's dream.There will always be a doubt in the mind of the students who really want to do something for the better.This in effect builds the whole system of IIM's as placement agencies.The frustration of higher deviation in packages leads to race of grades, and flaunting of abilities and qualities.This in turn leads to a frame of mind of higher pays in the mind of MBA aspirants and everybody who wants to earn higher aspires to write Management entrances.All this constitutes a vicious cycle.
There seems to be a solution which might change the system for the better.If the fees of 15 lac for students is forgone, IIMs would have to fund 400 crore through Ministry of HRD.This might put them to a loss for the short term but in a longer term will surely bud entrepreneurs at a much higher rate. Presently , a maximum of around 20-25 opt out jobs every year to chase their dreams but when the pressure of paying back money is taken out, the student will be satisfied at a job which pays low and will look for doing something of his own which interests him.
I again intend to quote my favorite line from "Atlas shrugged".
"World lies in the hands of creators and they are responsible to move the society forward."
PS: Just an opinion, Which makes sense to me.
If we consider the parameters such as risk, return and degree of freedom, the risk associated with a high admission fees which costs around 15 lakhs for two years, mostly funded by a bank which charges compounded interest rate is high.There is hardly an incentive to take risk to follow one's dream.There will always be a doubt in the mind of the students who really want to do something for the better.This in effect builds the whole system of IIM's as placement agencies.The frustration of higher deviation in packages leads to race of grades, and flaunting of abilities and qualities.This in turn leads to a frame of mind of higher pays in the mind of MBA aspirants and everybody who wants to earn higher aspires to write Management entrances.All this constitutes a vicious cycle.
There seems to be a solution which might change the system for the better.If the fees of 15 lac for students is forgone, IIMs would have to fund 400 crore through Ministry of HRD.This might put them to a loss for the short term but in a longer term will surely bud entrepreneurs at a much higher rate. Presently , a maximum of around 20-25 opt out jobs every year to chase their dreams but when the pressure of paying back money is taken out, the student will be satisfied at a job which pays low and will look for doing something of his own which interests him.
I again intend to quote my favorite line from "Atlas shrugged".
"World lies in the hands of creators and they are responsible to move the society forward."
PS: Just an opinion, Which makes sense to me.
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