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Business grads wanna be 'entrepreneurs'

Indian MBA students are willing to forego fat salaries and overseas postings in pursuit of entrepreneurial dreams. Keep employees motivated

, TNN|
Nov 22, 2007, 11.35 AM IST
NEW DELHI: Inspired by the Narayana Murthys and LN Mittals, Indian MBA students are willing to forego fat salaries and overseas postings in pursuit of entrepreneurial dreams. An overwhelming, 82% of B-school students of the final year batch, are considering to turn entrepreneur sooner or later. Only 14% amongst them don’t have entrepreneurship on their minds. Little surprise then, most students in the campuses see self-made business tycoons like Murthy and Mittal as their top business icons.

In a first-ever study of career aspirations of the country’s elite MBA commissioned by Teamlease-MBAUniverse.com, 34% students voted Infosys co-founder, Murthy as their No. 1 icon followed by Ratan Tata and LN Mittal with 24% and 16% votes, respectively. Reliance Industries’ Mukesh Ambani, Pepsico’s Indra Nooyi and Wipro’s Azim Premji were others that found ardent admirers in Indian B-schools. Industry sees this attitudinal change as a big milestone.

With the age old business constraints such as financing overridden by aggressive venture capitalist and private equity groups, the changed business environment is driving entrepreneurial temper, says Teamlease VP Sampath Shetty. “The Indian economy growth story has all the ingredients to stimulate youth entrepreneurship.”

And entrepreneurial ambitions as a characteristics of a more basic trend of wealth generation, has become an underlying theme in the economy. “There’s a greater appetite for risk taking and a belief that there are significant career gains even from a venture that doesn’t turn out as planned,” says NIIT executive vice-president Uday Singh.

“Options within the corporate world will always be open.” That is giving youngsters some comfort level to think different. Contrary to the popular perception that sees these bright youngsters look for a lucrative overseas posting, most MBAs see India as their karambhoomi, the study says. Interestingly, 74% of MBA students preferred India as their priority job location.

US came a poor second with just 11% choosing it, and Europe was the third option with 7%. Singapore is the preferred location of 4% MBA graduates. The study, recently conducted by global research company Synovate, covered 392 MBA second-year students at the top 20 B-schools across India. These included IIMs, XLRI, MDI Gurgaon, Jamnalal Bajaj Institute of Management and IIT School of Management amongst others.
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