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More IIM grads turning into entrepreneurs

Created by : Veena Gupta, Analyst, Blackstone Group  | 02 16 2010 11:56:10 +0000
Industry : Management & Strategy ConsultingFunctional Area : Getting Started(Entrepreneurship)
Keywords : entrepreneurs iim
Activity:  224 views;  last activity : 07 06 2010 20:18:09 +0000

These days, students from the prestigious Indian Institutes of Management are started their own ventures. These students are involved in unconventional business like recycling household waste, selling scented candles, or making solar lamps.

These students are also involved in starting different small scale business in their own campuses like "Tea outlets", angel investments, collecting and disposal of solid wastes and recycling it through a venture, making smoke free candles from wax collected from bees, vegetables and soyabeans and many more. Students are considering to be an entrepreneur to be more lucrative.

So users, do you think the approach of this kind of unconventional business styles is good for IIM students or should they go for conventional way of business style?

  
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We need to have more institutions like IIT's and IIM's. The development of any country depends upon its innovotiveness and the quest for research and development. It is very clear when we look at the developed countries. Developed countries give so much importance to education, research and development. The IIM and IIT system of education proves the point that the development is in education and innovotiveness.
By V.Durga Rao, Private Attorney/Lawyer, V.DURGA RAO  | 02 16 2010 12:30:27 +0000
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Its good that they are starting with unconventional business styles. In this way, they will have more self confidence that they can run their own business and future thrives on unconventional way of business like how one can tap the market to the fullest and in that regard unconventional business format will be really helpful than conventional business which still runs on age old business ethics which will not do good in the current context of times.
By Veena Gupta, Analyst, Blackstone Group  | 02 16 2010 11:58:58 +0000
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Entrepreneurship is beyond an IIM degree. There are several Indian entrepreneurs who have never been to IIMs! In my understanding what IIMs provide unlike majority of other institutions is provide a solid platform for networking with right people and connections. This certainly helps the proponents of new ideas to validate their approaches, thoughts and also obtain support both intellectually and financially.

In my mind, one can learn true spirit of entreprenurship from innumerable small retailers, hawkers, auto drivers, taxi owners we have across the breadth and length of our country. These are individuals often without basic education and financial resources undertake ventures at times, several notches higher than their normal risk taking capability and pursue their goals relentlessly. It is amazing that these individuals still lead a contented life!!
By Ameet Ranjan, Regional HR - North India, Maclellan Integrated Services India Pvt Ltd  | 02 16 2010 12:38:10 +0000
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I think than unconventional its best to go for the tried and tested method which our elders have followed for a very long time and still its very successful today, even the Ambani's did the same and now they are entering into other unconventional streams of business, so to start and to have a good base it is better to go for conventional business than burning hands with unconventional business of which we don't know whether it will be successful or not.
By Sonam Kapoor, Software Developer, IBM  | 02 16 2010 12:02:18 +0000
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