Teaching is better than Self-Learning:Role of Management Institutes in Developing Transnational Entrepreneurs

Transnational entrepreneurship has been in the spotlight as an emerging field during the last decade. After having been viewed previously from the perspectives of international entrepreneurship and ethnic entrepreneurship, transnational entrepreneurship has recently demarcated its own territory. A transnational entrepreneur has a specific community within which the immigrant is embedded. In general, it represents immigrants engaged in for different purposes. Historically, the common perception is that an entrepreneur commercializes an opportunity within a single institutional setting. However, many global factors, including but not limited to, reduced transportation and communication costs, free trade and diverse lifestyles, are playing a role in enhancing the entrepreneurs' abilities to conduct their businesses across national borders. Transnational entrepreneurs have the ability to generate a greater degree of and create a more efficient business than their counterparts who operate in a single country. Government of every country is taking efforts to develop transnational entrepreneurship to create self employment and increase standard of living. The education system must create new opportunities for students to develop entrepreneurial mindsets, behaviors and skills - abilities that will help them not only to create their own futures, but also to contribute to the economy and to India's standing in the world. The paper will focus on how management education is promoting transnational entrepreneurship by providing recommendations to management institutes about including entrepreneurship in the curricula for each area of academic study, which could in turn contribute to the overall development of individuals and enable them to seize and exploit opportunities. The paper also attempts to present the role of government assistance to management institutes for 'mainstreaming' enterprise and entrepreneurship education, with the objective of bringing Indian entrepreneurs at par with the rest of the world. The findings of this study will help give clarity to institutes and to aspiring entrepreneurs on how to develop the skill-sets and mindset towards enabling environments, stakeholders and entrepreneurial practices that could be synchronized into a framework for their development.