Impact of Entrepreneurial Characteristics among Business Management Students on their Propensity to Build Self Reliant India (AatmanNirbhar Bharat)
Dr. Rupali Arora
Professor,
University School of Business,
Chandigarh University, Mohali, India.
Dr. Bhanupriya Khattri
Associate Professor,
University School of Business,
Chandigarh University, Mohali, India.
Dr. Charu Saxena
Assistant Professor,
University School of Business,
Chandigarh University, Mohali, India.
Abstarct
The present article is an attempt to analyze the entrepreneurial characteristics among business management studentsandimpact of entrepreneurial characteristics among business management students on their propensity to build Self- Reliant India. For the purpose of the study, the data was collected from 380 graduate and post-graduate business management students using a structured questionnaire. Smart PLS 3.0 was employed to analyze the data and the results revealed that Internal Locus of Control (β= 0.1147, p <0.05), Risk taking propensity (β= 0.532, p <0.01), Creativity / Innovation (β= 0.1479, p <0.05), Initiatives (β= 0.1739, p <0.05), Need for achievement (β= 0.0574, p <0.05) have a significant positive effect on Entrepreneurial Intention; with t-values greater than 1.96. Further, Entrepreneurial Intention (β= 0.738, p <0.05), has a strong relationship with the Propensity to Self Reliant India. Therefore, it can be concluded that, entrepreneurship plays an important role in improving the innovative capabilities, enhancing job openings and also promoting competitive environment. To survive in this competitive environment, entrepreneurial intentions need to be developed among the students.
Keywords: Entrepreneurial Intentions, Self Reliant India, AatmaNirbhar Bharat
Introduction:
The concept of entrepreneurship has started achieving more attention from scholars and is emerged as most effective approach for economic development (Keat et al., 2011), as entrepreneurs help the nation in gaining a competitive advantage due to the innovative measures. Therefore, imparting entrepreneurial education to the students may have a direct impact on the decision-making abilities at managerial levels with low risk and more benefits (Hong et al., 2012). Entrepreneurship is important economic activity not only for individual but for providing employment opportunities to others also. Among youth it is becoming more interesting opportunity for their career and employment. Apart from this entrepreneurship also play a great role in the development of economy and economic growth. In addition to the development of innovative business start-ups, entrepreneurs have also developed skills and behavior to perform their societal roles (Inegbenobor, 2006). Such businesses helps in creating new job opportunities which will positively contribute to the economy. The developmental role of entrepreneurship is more important in developing countries as compared to developed countries (Nishantha, 2008). Moreover for the developing countries like India it is a need of hour as because to make India self-reliant and strong from economy point of view, entrepreneurship should be encouraged as much as possible.
Various educational institutes all over the world have also initiated entrepreneurship programmes to develop a knowledgeable skill sets and entrepreneurial careers to the students. Today’s competitive and challenging world needs managers who are highly innovative, dynamic, determined or entrepreneurial (Ayalew&Zeleke, 2018). According to Krueger et al. (2000) and Molaei et al. (2014), entrepreneurial intention is the main and strong predictor of entrepreneurial behavior. The focus of the research has been shifted to highlight the active involvement of entrepreneurs in the development of economy and meet market demands in this changing environment (Mamun et al., 2017).
Due to the Covid pandemic and economic instability in India, the Prime Minister has launched AatmaNirbhar Bharat Yojna in May, 2020. Mission of this scheme is to make India Atmanirbhar Bharat which doesn’t mean cutting the relations from rest of the world or isolating from other countries. But to make India resurrect economy through various measures like fiscal measures and other government schemes. This scheme will be beneficial for poor, farmers and also middle class people. The major focus of this relief package is on empowering poor people from both organized and unorganized sectors. The investments and business promotion systems will be transformed to maintain the economic stability of the country.
To support the entrepreneurship culture in India government also provide assistance to young entrepreneur for their support and success. Various schemes are established by the Indian government and state governments to support entrepreneurs. For the assistance of students as entrepreneurs educational institutions are also provide financial and other help so that people can get benefit and contribute to the economy. The Prime Minister also urged people to be ‘vocal for local’ to make self- reliant India. Such activities will help to create more employment opportunities in the country and will also have a positive impact on the economy.
Therefore, entrepreneurship acts as a significant contributor and a driving force in improving the economy by increasing innovative activities, creating job opportunities and also promoting competitive environment. Entrepreneurial activities can be enhanced by promoting entrepreneurial intentions and behavior among the students. There is a need to support entrepreneurial activities due to increasing competitiveness and changing environment. To support this fact, various developing countries are supporting potential entrepreneurs to create business at different stages. Entrepreneurship not only helps in generating employment but also provide various economic benefits to the nation. In developing nations like India, young entrepreneurs plays an important role. It is the need of hour to promote entrepreneurial activities and highlighting the factors that helps in the entrepreneurial development.
Review of Literature
Entrepreneurship is a procedure of improvement and of comprehending values for entrepreneurs (Morris & Jones, 1999). Salamzadeh et al (2013) found that various college learners are aware of the thought of entrepreneurship. Thou-gh the considerate about entrepreneurship was originate to be greater among learners who have taken entrepreneurship as a course. There was certain misperception about social entrepreneurship and only reasonably less consciousness of countrywide social entrepreneurs. Assumptions pinched propose that there is a condition to improve social entrepreneurship teaching and learning.
Entrepreneurship is a multifaceted procedure that deficiencies linearity of business sophisticated and entrepreneurship scholars requisite to dominant ambiguous surroundings (Neck and Greene 2011). Majumdar and Varadarajan (2013) have established that the propensity to be developed as an entrepreneur is not inclined by the subject of gender but be contingent on additional influences like creativeness, enthusiasm and attentiveness.
Research confirmations that entrepreneurs outline financial fortune of countries by generating prosperity and jobs, creating products and making taxes for Government for the reason that of which entrepreneurship has thoroughly connected to financial development of a republic (KumariIndra, 2014). Solomon et al. (2002) recommended that the optimistic role of teaching entrepreneurial and small business handling abilities for novel venture creation and achievement.
Education related to entrepreneurship should be laid prominence on the work to get better brilliance entrepreneurs in the impending projections (Jaafar and Aziz, 2008). All 21st century students are professed ‘not only to be job- searchers, but also and above all to be job- makers’ (Miclea, 2004). How individuals consider and act entrepreneurially has established a noteworthy interrogation for investigators, educationalists, and strategy creators looking for to upkeep business conducting happenings either presumed self-sufficiently by people or within management. (Hisrich, Langan-Fox & Grant, 2007).
As per an article in Aatmanirbhar Bharat Abhiyaan support Indian economy in fight against COVID-19(2020), The Five Pillars of Atmanirbhar Bharat focus on: Economy, Infrastructure, System, Vibrant Demography and Demand. Ians (2020) highlighted that Prime Minister Narendra Modi has launched the Digital India AatmaNirbhar Bharat Innovate Challenge to recognise the pre-eminent apps for India, by now being used by people and have the prospective to give value in future too. They will constantly work for the advancement of current apps and development of new apps. According to Mishra and Lalumière (2011) research has established that such personality qualities as impulsivity, sensation-seeking, and low self-discipline are associated with risk-taking.
It ought to be no astonishment then to find a profusion of assertions like “entrepreneurship is the foremost vehicle of economic progress” (Anokhin, Grichnik, &Hisrich, 2008). Audretsch (2007) has suggested that by encouraging entrepreneurship, we can expect for huge accomplishment. In emerging nations, entrepreneurship can deal enormous upkeep but there is a requirement to improve an optimistic viewpoint in the direction of this notion and convey it on head as a job choice. Hamidi et al (2008) talk about intention for entrepreneurship on a wide-ranging noteworthy thing as a person’s approach toward the arena of entrepreneurship, beside with the societal standards which are dominant and also a person’s standards of self-efficacy.
Entrepreneurship has continually been connected with risk compelling. Research outcomes deliver indication that persons with a better risk reception had high heights of entrepreneurial purpose (Hmieleski and Corbett 2006). Kasseanet. al., 2015 suggested that the emphasis of entrepreneurship learning is not on the allocation of theoretic information in the colleges but on the foundation of achievement to develop entrepreneurial expert expertise.
Research exploration conclusions point to that self-efficacy aids lecturers to smear advanced instruction approaches, involve learners in perplexing knowledge chances, persist in the aspect of difficulties, and develop scholars’ perseverance to compact with the difficulties and complications of knowledge procedure (Deemer, 2004; Tschannen-Moran et al., 1998). Torimiro and Dionco-Adetayo, 2005 concluded that this rising attention in entrepreneurship education is due to the fact that it has been originate to central to scholars and new persons fostering a long-lasting attention for entrepreneurship.
Research Gap and Motivation of the Research
Due to Covid-19 and disturbances with China, Government of India is compelling numerous phases to confirm that India is finely primed to look the encounters and pressures. The impulse specified by the Respected PM to practice this exasperating period to turn out to be self-reliant has been very thriving expected to allow the renaissance of the Indian economy. Lot of studies and literature is available on entrepreneurial characteristics but no research has been found on recent phenomena i.e. Self-reliant India. The motivation behind the research was to check whether management students are ready or not for building self-reliant India by showcasing their entrepreneurial characteristics.
Objective of the Study
Research Methodology
“The data are collected through a structured questionnaire five-point Likert scales, obtaining responses of 380 university graduates and under-graduate business management students. An online version of the questionnaire was used, accompanied by a cover letter. At first, the online link of the questionnaire was sent to all students who were part of the sample.”After the period of two weeks, it was again resend to the non-respondents and collected the responses of 400 students.From the collected responses 20 uncompleted/blank responses were deleted. For understanding the relationship between ‘Entrepreneurialcharacteristics’, ‘Enterpreneurial Intention’ and ‘Propensity to Build Self Reliant India,’ a conceptual model framework is proposed The list of latent constructs and indicators used are shown in table 1, along with their factor loadings. In order to analyze the data, SmartPLS 3.0 is used, developed by Ringle et al., in 2005.
Hypotheses of the Study
“Personalities with internal locus of control have faith in that they themselves are in responsibility of their own exists and happenings while taking their results dependent upon their identifiable individual results (Flory, 2006). Individuals with an internal locus are more likely to become entrepreneurs (Caliendo et al. 2014). Persons who have a high locus of control can have entrepreneurial intention and choice to develop as entrepreneurs (Karabulut, 2016).” Grounded on the explanation above, investigators projected that:
“H1: There is positive relationship between internal locus of control and entrepreneurial intention.”
Douglas and Shepherd (2002) have established that those with a sophisticated entrepreneurial intent are linked with a “more positive” approach to threat and liberation. “Barbosa, Gerhardt and Kickul (2007) originated that persons with a great risk inclination have greater stages of entrepreneurial meanings, are further opportunity-seeking and have sophisticated points of self- efficiency. As per Wiklund and Shepherd (2005), risk-taking mentions to the propensity to take courageous activities such as expressing into indefinite novel marketplaces and obligating a huge percentage of means to schemes with indeterminate consequences. Consequently, the following hypothesis is formulated:”
“H2: There is positive relationship between risk taking propensity and entrepreneurial intention.”
“A modification in the economy has been recognised in recent times, moving from knowledge-based actions to imagination, modernisation, entrepreneurship and imagination (Van den Broeck et al., 2008)”. Creativity leading to pioneering novel products is risky and non-linear process that is antithetical to the sophisticated logical competences of technological area specialists (Pinard&Allio, 2005). Accordingly, the subsequent hypothesis is prepared:
H3: There is positive relationship between creativity/ innovation and entrepreneurial intention.
“Entrepreneurship is about activities relatively than ordinary intentions, and how entrepreneurial intention transforms into accomplishment be contingent on a person’s individual initiative (Frese& Fay, 2001; Gielnik et al., 2015). Developing optimistic attitude towards entrepreneurship is in elevation on the policy and schemes of numerous nations and behaviour is a purpose of entrepreneurial initiative (Sasi&Sendil, 2000). Entrepreneurs are habitually initiative by perceiving opportunities in the situation and by means of their creativeness to convey around innovation. Thus, initiative is a significant characteristic for an entrepreneur (Russell & Faulkner, 2004). Subsequently, the hypotheses designed is as under:”
H4: There is positive relationship between initiatives and entrepreneurial intention
“Studies indicated a dynamic substantial connection/correlation amongst the need for achievement and the intentions that are required to boost the business activities in entrepreneurial business setups (Langowitz&Minniti, 2007). The need for achievement was measured the greatest shared consequence on entrepreneurial intentions since it increases the entrepreneurs to indulge in commercial work professionally and magnificently (Zeffane, 2013). Persons with traits like need for achievement, ability to take risk and locus of control have been pragmatic to be more agreeable to entrepreneurship instruction consequences like augmented entrepreneurship purpose associated to those who display fewer of those features (Hansemark, 2003). Hence, constructed on the directly above evaluation, this research work also hypothesizes that:”
“H5: There is positive relationship between Need for achievement and entrepreneurial intention.”
Entrepreneurship has been well-thought-out as a locomotive development for economic expansion in the advanced, emergent, and evolving nations. Effective start-ups necessitate a number of administrative, well-organized and organized commercial activities. Akpan, Effiong, and Ele (2012) noted the goal of accepting entrepreneurship tutoring in the colleges is to make students to be independent and to attain better financial progress in the nation. Audretsch (2007) has preached that by recommending entrepreneurship, we can anticipate for huge achievement. In developing nations, entrepreneurship can propose enormous care but there is a necessity to advance an optimistic viewpoint in the direction of this thought and take it on head as a professional choice. Garzón (2010) planned that a person’s business competence has a significant and element role in the early stages of opening a venture. Shane et al (2003) have strained that the development in the student’s entrepreneurial efficacy has twisted out to be a restorative which allows them struggle for and to put additional energies that too for a extended time along with an improved capability to look the encounters. Accordingly, this research assumes sixth hypothesis as:
H6: There is positive relationship between Entrepreneurial intention and propensity to build self-reliant India.
Figure: Hypothesized Proposed Model
Data Analysis and Discussion
Demographic Profile of Respondents
Based on the demographic information in Table 1, 55.7 % of students are male and the rest of the 44.2 % students are females. Among the total respondents, 32.9 percent students have a family business and the parents’ occupation of the rest of the students is servicemen (44.7 %), professional/self-employed (13.2 %) and retired (32.9 %). 76.3 percent of students of being from post-graduate courses and 23.7 % students are from undergraduate courses. Maximum number of students have one sibling (48.7 %) and the rest of the students have either zero (9.2%), two (27.6%) or more than two (14%) siblings.
Table 1 Demographic Profile of Learners
|
Category |
Frequency |
Percentage |
|
|
Gender |
Male |
212 |
55.7 |
|
Female |
168 |
44.2 |
|
|
Parents’ Occupation |
Service |
170 |
44.7 |
|
Professional/Self-Employed |
50 |
13.2 |
|
|
Business |
125 |
32.9 |
|
|
Retired |
35 |
9.2 |
|
|
Level of Education |
UG |
90 |
23.7 |
|
PG |
290 |
76.3 |
|
|
Annual Household Income |
Upto 2 lakh |
135 |
35.5 |
|
2-5 lakh |
130 |
34.2 |
|
|
5-8 lakh |
100 |
26.3 |
|
|
8 lakh or above |
15 |
3.9 |
|
|
Number of Siblings |
0 |
35 |
9.2 |
|
|
1 |
185 |
48.7 |
|
|
2 |
105 |
27.6 |
|
|
More than 3 |
55 |
14 |
Measurement Model Assessments
In order to analyze the research data structural equation modeling technique is used towards assessingthe measurement model and testing the structural model.The list of indicators used in the conceptual model are shown in table 2 along with their factor loadings. “All the values of factor loadings except ‘Economy 1’, ‘VD3’, ‘Demand 1’ and ‘Demand’ 3 were meeting the minimum criteria of 0.7 (Hair et al., 2019).” These items were deleted for further investigation.
Table 2 Construct Validity and Factor loadings
|
Construct Source |
Indicator |
Survey Questions |
Factor loadings |
|
Internal Locus of Control
Douglas and Shepherd, 2002 Wiklund and Shepherd, 2005 |
ILC1 |
My life is determined by my own actions. |
0.834 |
|
ILC2 |
I want to control my time and energy. |
0.838 |
|
|
ILC3 |
I can start new business even if I will not get support from family and friends. |
0.871 |
|
|
Risk taking propensity
Pinard&Allio, 2005 Van den Broeck et al., 2008
|
RTP1 |
I can handle the uncertainties very well. |
0.818 |
|
RTP2 |
I enjoy the challenge of situations that may consider the risk. |
0.859 |
|
|
RTP3 |
I like to extend the boundaries. |
0.908 |
|
|
Creativity / Innovation
Sasi&Sendil, 2000 Russell & Faulkner, 2004
|
REL1 |
I have so many new and creative ideas.
|
0.792 |
|
REL2 |
I find new ways of thinking to solve problems.
|
0.868 |
|
|
REL3 |
I am imaginative person and motivated by ongoing imagination.
|
0.889 |
|
|
Initiatives
Hansemark, Zeffane, 2013
|
RESP1 |
I want to take initiatives for new and better changes. |
0.827 |
|
RESP2 |
I think if I have good idea in my mind, then finance is not at all a problem. |
0.862 |
|
|
RESP3 |
If I am frightened about something, I try to conquer it. |
0.880 |
|
|
Entrepreneurial Intention
Shane et al, 2003 Audretsch, 2007
|
LER1 |
I want to be my own boss. |
0.884 |
|
LER2 |
I want to make more money by doing business |
0.840 |
|
|
LER3 |
I like independence in my work. |
0.912 |
|
|
Need for achievement
|
WEB1 |
I want to achieve higher position in society. |
0.896
|
|
WEB2 |
I want to gain recognition. |
0.878 |
|
|
WEB3 |
I want to make more money than I would otherwise make. |
0.869
|
|
|
Economy
|
Economy 1 |
I can contribute something for recovery of Indian economy after COVID outbreak. |
0.52* |
|
Economy 2 |
I can start-up new business or I will suggest innovative ideas in my job. |
0.785 |
|
|
Economy 3 |
I can take initiatives to promote “be vocal for local” for development of my Indian economy. |
0.803 |
|
|
Infrastructure
|
INF 1 |
As a citizen, I can work for the betterment of social infrastructure like health, sanitization, drinking water, education, training etc. |
0.874 |
|
INF 2 |
I am interested in research and development activities for providing ideas for overall development of the infrastructure of my nation. |
0.843 |
|
|
INF 3 |
I am responsible for infrastructure asset management of my country. |
0.695 |
|
|
System
|
System1 |
“I can give innovative ideas for Aatmanirbhar Bharat app for promotion of existing apps and development of new apps.” |
0.691 |
|
System2 |
I have huge respect towards Corona Warriors. |
0.780 |
|
|
System3 |
I can put volunteer services for hunger, loneliness, homelessness, violence and domestic abuse. |
0.752 |
|
|
Vibrant Demography
|
VD1 |
I believe that providing education and freedom to women can promote self-reliant India. |
0.815 |
|
VD2 |
I believe that young generation can definitely put some efforts for self-reliant India. |
0.790 |
|
|
VD3 |
I think social distancing will not be a problem for Self-Reliant India. |
0.539* |
|
|
Demand
|
Demand 1 |
I will purchase only Indian products. |
0.654* |
|
Demand 2
|
I will create awareness among my friends and family members to purchase only Indian products and use Indian technology/apps. |
0.782 |
|
|
Demand 3 |
I can pay more money for Indian products. |
0.66* |
*Indicators removed for further analysis
“To check the convergent validity of data, the Average variance extracted (AVE) are calculated and all the values are greater than the required cutoff of 0.5 (Hair et al., 2019;, as shown in Table 3. The composite reliability of each construct are greater than 0.8, indicating the overall scale reliability(Henseler et al., 2016). As depicted in R-square value of our structural model which is 0.9042 for ‘Enterpreneurial Intention,’ indicates that the proposed conceptual model have higher explanatory significance.Also the value of R-square is 0.5454 for ‘Propensity to Self Reliant India,’ which indicates the adequate impact of Entrepreneurial Itention on propensity to self reliantInida, among the students.”
Table 3 AVE, Composite Reliability and R-Square
|
Latent Constructs |
AVE |
Composite Reliability |
R Square |
|
Creativity |
0.7295 |
0.8897 |
|
|
Entrepreneurial Intention |
0.7283 |
0.8891 |
0.9042 |
|
Initiatives |
0.7343 |
0.8923 |
|
|
ILC |
0.73 |
0.8902 |
|
|
Need for achievement |
0.7762 |
0.9123 |
|
|
Propensity to Self Reliant India |
0.5838 |
0.9386 |
0.5454 |
|
Risk taking propensity |
0.7438 |
0.8969 |
Source: Author‟s Calculations
Further, the Fornell-Lackermeasure is used to gauge the discriminant validity. This techniquematches the square root of the AVE with the correlation of latent constructs (Hair et al 2019). The values in bold in table 3 show that the variance of the latent constructs for its own indicator is higher than that of other latent constructs (Fornell, 1994).
Table 3: Fornell-Lacker criterion Results
|
CRE |
EI |
INI |
ILC |
NFA |
RTP |
CRE |
EI |
PSR |
|
|
CRE |
0.892 |
|
|||||||
|
EI |
0.105 |
0.813 |
|
||||||
|
INI |
0.085 |
0.396 |
0.839 |
|
|||||
|
ILC |
-0.003 |
0.264 |
0.314 |
0.882 |
|
||||
|
NFA |
0.019 |
0.499 |
0.318 |
0.181 |
0.805 |
|
|||
|
RTP |
0.050 |
0.625 |
0.369 |
0.233 |
0.276 |
0.852 |
|
||
|
CRE |
0.069 |
0.531 |
0.478 |
0.227 |
0.360 |
0.582 |
0.909 |
|
|
|
EI |
0.034 |
0.393 |
0.172 |
0.065 |
0.269 |
0.236 |
0.208 |
0.798 |
|
|
PSR |
-0.106 |
0.186 |
0.238 |
0.290 |
0.160 |
0.077 |
0.093 |
0.102 |
0.905 |
Source: Author‟s Calculations
Note: CRE- Creativity, EI- Entrepreneurial Intention, INI- Initiatives, “ILC- Internal Locus of Control, NFA- Need for achievement, RTP- Risk taking propensity, CRE - Creativity, EI- Entrepreneurial Intention”, PSR- Propensity to Self Reliant India
The discriminant validity of reflective measurement model is also verified by evaluating all cross-loading whose values are above the acceptable minimum level.“In addition to it,the Variance Inflation Factor (VIF) values are found to be below 5, which shows no collinearity issues among the predictor constructs (Mason and Perreault 1991; Becker et al. 2015).
Estimated relationship
The standardized beta values (β) of path coefficients are calculated by applying the PLS algorithm technique called bootstrapping (Hair et. al., 2019) in SmartPLS 3.0. Internal Locus of Control (β= 0.1147, p <0.05), Risk taking propensity (β= 0.532, p <0.01), Creativity / Innovation (β= 0.1479, p <0.05), Initiatives (β= 0.1739, p <0.05), Need for achievement (β= 0.0574, p <0.05) have a significant positive effect on Entrepreneurial Intention; with t-values greater than 1.96. Further, Entrepreneurial Intention (β= 0.738, p <0.05), has a strong relationship with the Propensity to Self Reliant India as shown in the table 5.”Therefore, Hypothesis H1, H2, H3, H4, H5 and H6 are supported.
Table 5 Path Coefficients
|
Hypothesis |
Path |
Standardized Beta |
T Statistics |
Result |
|
H1 |
Internal Locus of Control -> Entrepreneurial Intention |
0.1147 |
2.6965* |
Supported |
|
H2 |
Risk taking propensity -> Entrepreneurial Intention |
0.5325 |
7.257* |
Supported |
|
H3 |
Creativity / Innovation -> Entrepreneurial Intention |
0.1479 |
3.416* |
Supported |
|
H4 |
Initiatives -> Entrepreneurial Intention |
0.1739 |
2.7532* |
Supported |
|
H5 |
Need for achievement -> Entrepreneurial Intention |
0.0574 |
2.2123* |
Supported |
|
H6 |
Entrepreneurial Intention -> Propensity to Self Reliant India |
0.7385 |
26.4607* |
Supported |
Source: Author‟s Calculations *Significant at 5% level of significance
Figure 2. Structural Model Assessment
Construct Crossvalidated Redundancy:
The predictive relevance of the data is checked through the construct cross validated redundancy of the latent variables using Q² value, given by Stone and Geisser, 1974. For this purpose, blindfolding technique is applied and the value of Q² is found to be 0.65 which shows high predictive relevance of the data, Hair et.al. (2017).
Goodness of Fit (GoF):
“On the basis of the results of the analysis it is concluded that both measurement model and structural model are validated. Also, the results exhibit that proposed conceptual model used has significant predictive relevance and explanatory power. The standardized root mean square residual SRMR is equal to 0.053 which is less than 0.08, with Chi-square as 1066.166 and NFIas 0.618 which proves a good fit as proposed by Henseler et al. (2014) and Henseler et al., (2016).”
Conclusion
The present article is an attempt to analyze the impact of “entrepreneurial characteristics among business management students on their propensity to build Self- Reliant India. The results have found that internal locus of control, risk taking propensity, innovation, initiatives and need for achievement have a positive relationship with entrepreneurial intention.” Further a positive relationship was also found between entrepreneurial intention and propensity to make self-reliant India. In this competitive environment, identifying a career option could be one of the most important decision one have to make in their lives (Ayalew et al., 2018), therefore, doing a job of own interest will ensure better success (Gibson et al., 2011). Lack of job opportunities is one of the major problems in highly populated countries like India, therefore, promoting the concept of entrepreneurship at educational level will not only help the students to think innovatively but will also increase the start-ups in the economy. In such a situation, the job vacancies will also increase which will help in reducing the unemployment issues. As, entrepreneurship education will enhance certain abilities, skills and attitude among the youth to self-reliant India. Government should also make policies to promote such activities to an extent so that the students can confidently opt for a career as per their interest.
Limitations and Future Scope of the Study
The present study has some limitations also, that needs to be addressed in future studies. The sample size of the study is limited to the under-graduate and post-graduate management students from Punjab, therefore, the results may not be generalizable to the students of other branches. Moreover, the sample size of the study is also limited to 380. Therefore, future studies can be conducted with a larger sample size and including students of other branches and universities to have a comparative understanding of the concept of entrepreneurship. Further research can be extended to a different geographical location or a comparative study can also be conducted between public and private universities to make the results more generalizable. The present research focuses on the relationship of selected dimensions with entrepreneurial intentions, further studies can be conducted considering the relationship of other dimensions with entrepreneurial intentions.
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Web References:
https://www.indeed.com/career-advice/finding-a-job/entrepreneur-characteristics
https://en.wikipedia.org/wiki/Atmanirbhar_Bharat
https://www.orfonline.org/research/the-dynamics-of-self-reliant-india-69132/
https://www.thehindu.com/opinion/op-ed/how-india-can-become-self-reliant/article31681288.ece
https://www.eletimes.com/self-reliant-india-movement-opportunity-in-the-time-of-crisis
https://www.prsindia.org/report-summaries/summary-announcements-aatma-nirbhar-bharat-abhiyaan
https://www.elearnmarkets.com/blog/all-that-you-need-to-know-about-atma-nirbhar-bharat-abhiyan/
