Business Management Skills for Entrepreneurship Growth

On 28.03.2023 Entrepreneurship Development Cell and IIC in association with the Department of MBA organized a session on "Business Management Skills for Entrepreneurship Growth”. The session was handled by Dr.S.B.Jeshurun, Associate Professor, MBA, Francis Xavier Engineering College from 9.30AM - 12.30 PM. 50 students from first year MBA and and 1 faculty of MBA department participated in the program. The program was coordinated by Mr. P. Selvakumar, EDC Coordinator, Assistant professor - MBA, Francis Xavier Engineering College.

The guest speaker briefed about the importance of adapting management skills for the real time growth for an entrepreneur. Entrepreneurship training worthy of its name must also incorporate real-life situations for future entrepreneurs to appreciate and prepare for the difficulties of entrepreneurship. In his speech he also stated that causes of failure are part of the management of any small and medium-sized enterprises (SME). Business owners can’t just sit in a corner and wait for opportunities to come to them. Entrepreneurs have to think strategically and be proactive. They have to show initiative, research trends, and always put themselves and the business in the optimum position for growth. He also said that Entrepreneurs should aim to build a sustainable business that prioritizes customer needs. This involves learning to create products and services that solve customer problems.

Through collecting customer feedback, business owners can anticipate what customers will need, how to improve customer support, and how to stand out from competitors. He also said that the entrepreneurs who are persistent are able to watch their ideas grow from nothing to the business they always envisioned. Entrepreneurship is not an easy route and it is one that requires a tremendous amount of patients to be able to see any results. Patience and persistence are important keys to success for any entrepreneur, as well as learning how to view failures as important learning moments. Students gained lot of insights about management skills which are needed for starting a business.