Starting, owning and managing a start-up business by optimum utilization of local resources for the development of a rural population is what rural entrepreneurship means.
We have seen an influx of rural migration into the cities in search of employment, resulting in overpopulation in the urban areas. To prevent such a situation and to minimize migration owing to unemployment, we need to create situations that create opportunities of employment in the rural areas itself. Value addition to rural resources in rural areas, engaging rural human resources is Rural Entrepreneurship in its truest form.
In countries like India, the need for rural entrepreneurship is very strong and the reasons are, employment generation, income generation, rural development and making villages self-sufficient. Doing so will invariably prompt the villagers to earn and live where they belong rather than moving to bigger towns and cities thus curbing rural to urban migration. An ideal situation would be when citizens from cities and towns find it worthwhile to shift themselves to rural areas looking at the vast possibilities and opportunities that are waiting to be tapped.
Young people with a creative and positive perspective, who aim to work towards the development of rural areas using rightly channelized efforts will be the ones to bring about a drastic change in the situation we see today. These dynamic rural entrepreneurs shall be successful in solving many such chronic problems within a short time span and make a mark in the industry while doubling their profits.
The rapid growth in population and an even faster rate of urbanization creates an increase in demands which are challenging for the traditional small-scale businesses who cannot cope up with the demand and supply cycle. This is where new and innovative solutions of an entrepreneur come in. Bringing in all-new global concepts, business strategies, information technology and a highly efficient infrastructure, the entrepreneur would have all the right tools in hand to chisel out one of the finest masterpiece in rural entrepreneurship.
Most of the industries in the rural sector are small-scale and cottage industries with a huge potential for growth. While being quick yielding they also provide large employment opportunities, which indirectly means, a smaller gestation period and cheaper labour as compared to the urban industries, ultimately resulting in better profit margins.
A host of opportunities are open for rural entrepreneurs and the categories they relate to are Food processing and Agro products, textile industry, cottage and handicraft industry, mineral based industry, engineering related and service industry.
Those who aspire to make it big in the world of rural entrepreneurship need to decide on the type of entrepreneurship suitable for their business and may choose from the following:
Individual entrepreneurship, which is a proprietary concern and a single ownership of an enterprise.
Group entrepreneurship is a partnership and can also be a public or private limited company.
Cluster formation relates to associations consisting of a group of individuals sharing the same interest, religion, caste or occupation etc. which are known as Non-Governmental Organizations (NGOs), Voluntary Organization (VOs), Self-Help Groups (SHGs), Community-Based Organizations (CBOs) and networking of all these.
Co-operatives are autonomous associations of persons united voluntarily for a common purpose.
It is not necessary that those who prefer rural entrepreneurship need to be from rural areas themselves. Enterprising urban citizens who are earnest and sincere enough to ensure and manage rural development must take up innovative projects and also promote the benefits of rural entrepreneurship to others.
The Entrepreneurship Development Institute of India was set up in 1983 in Ahmedabad, Gujarat. It is a not-for-profit institute and currently offers various management programmes including the PGDM-DS to encourage entrepreneurship development and development studies in the country. This is course is way ahead of the MHRM (Masters in Human Resource Management) courses run by various universities as it equips students with the skills and techniques required to work in various development works.
The PGDM- DS or Post Graduate Diploma in Management – Development Studies is one of the flagship programmes of the Entrepreneurship Development Institute of India (EDII). It is a multi-disciplinary programme that has been specially designed in order to provide conceptual and analytical skills along with the knowledge required for economic and social development. The main aim of this programme is to provide students with opportunities to develop entrepreneurial solutions to poverty and low level of livelihood, to think of new initiatives for corporate social responsibility and to help build up the economy through entrepreneurship.
Eligibility for This Programme
All graduate students with 50% and above in graduation and who have the required CAT/XAT/CMAT/MAT/ATMA scores are eligible to apply for this course.
Careers and Options
Through this PGDM-DS programme, the EDII is trying to encourage students to specialise in diverse fields like micro finance, social entrepreneurship, fund raising, development research, micro enterprise development, gender studies, urban and rural livelihoods and corporate social responsibility.
The academic curriculum is intellectually invigorating and through its innovative methods of teaching, specialist faculty and unique training and development programmes, the EDII has been enabling students to venture into rewarding professions with various organisations. Some of them are playing a big role in Corporate Social Responsibility wings of multi-national corporations, United Nation organisations efforts involved in urban and rural development, grant making organisations and various Not-for-profit organisations.
EDII has an excellent placement record due to its contacts in the industry and students are given opportunities to work with top companies and have meaningful and intellectually stimulating careers. We have placed students in top national and international organisations like:
• Azim Premji Foundation
• HDFC Bank
• World Bank
• IDBI Ltd
• Aga Khan Rural Support Programme
Graduates from our PGDM-DS programme are in demand due to their specialized knowledge of development studies and how to create social initiatives that will help the urban and rural poor.
Why PGDM-DS is better than an MHRM programme?
PGDM – Development Studies is a programme which is classified under the category of social sciences. It is ranked amongst the most popular management programmes because many regions of the world require specialists in development studies. It focuses on training students to work in the political, social and economic sectors. Part of the curriculum of this programme is studying development policies that have shaped the society we live in. Once a student graduates from the PGDM-DS programme, he or she will have a unique awareness and understanding of the society as it is today.
An MHRM or Masters in Human Resource Management degree will only provide you with the skills to pursue a career in Human Resource management. It will not equip you with a valuable entry path into national and international development work. The PGDM-DS programme is a value added course which will provide you with technical knowledge, skills and hands-on field experience.[Top]