From special sessions on supply chain management to accounting frauds, SRCC does everything to produce a good businessman
Shri Ram College of Commerce continues to lead with a focus on hands-on experience and a fresher perspective on education.
Abhay Kumar, an assistant professor at the Shri Ram College of Commerce (SRCC), Delhi, laughs as he talks about a student who has missed many classes but runs a successful start up. "His start-up has grown very big, I don't think he will clear the exams," says Kumar. It is this challenge of fuelling entrepreneurial ambitions while also keeping the focus on academics that SRCC has managed to balance.
Several students at SRCC, while pursuing degrees, are also nurturing their businesses. And according to Kumar, most of the businesses are doing well. The aspirations of young India have changed phenomenally, it is no longer just about a fat salary or a big company, it is more about finding fulfilment, which could mean different things for different people. SRCC, with its 30-odd societies, exchange programmes, events is hoping to provide students with a nurturing environment which gives them enough interface with the real world.
This year, for its annual Business Conclave, completely organised by the students, three Indian business leaders-Adi Godrej, Sunil Bharti Mittal and G.M. Rao came and shared their insights on setting up successful businesses. "It was conceived, run and managed entirely by the students, right from contacting the speakers to getting sponsorship," says Rajendra Prasad Rustagi, acting principal.
It was this all-inclusive approach that brought Anant Mohta to SRCC from Bengaluru. "At SRCC, the experience I get is far more practical. The syllabus is the same as other DU colleges but I wouldn't have got the practical experience I am getting here," says Mohta, a first year BCom Honours student. He is also part of an SRCC organisation called Enactus which works on building businesses for poor people and is quite active in the debating circuit. A debate a week is the norm. The range of societies students can opt for is fairly extensive, from fashion, music, dance, photography to financial investment and Dalal Street.
There is also a robust international student exchange programme wherein students get the opportunity to spend a few months in a reputed college abroad.
This year, students will be headed to Amsterdam University. SRCC was host to students from Penn State University (USA) in January this year.
Reacting to the changing dynamics of the Indian economy, the college has also started special sessions on supply chain management and accounting frauds. Recently, Ernst & Young came and held a three-day workshop for students on accounting. Of the total 700 students who graduated from SRCC this year, over 300 were placed (the rest were not looking for placement opportunities).
In an unprecedented move, the college set its cut-off at 100 per cent for the first list of BCom (Hons) about two years ago (subsequently it came down to 96.25 per cent).
Is it any wonder then that Google CEO Sundar Pichai confessed at a college event here that he wouldn't have been able to meet the cut-off criteria at SRCC.
Follow the writer on Twitter @shwetapunj
EXPERT COMMENT
Creating jobs vs seeking jobs
Ever since I was a teenager, I always dreamt of setting up a business of my own. At the age of 17, I decided to skip college education in favour of starting my own company. I don't underestimate the strengths and benefits that come with formal education. Besides accelerating the process of learning, it provides opportunities to network, and also enhances aspects of your personality. But it was never a choice for me. I was brimming with ideas and enthusiasm, and didn't want to be hindered by academic goals.
My early idea was a hotel-aggregation platform-but once I travelled and stayed in over a 100 hotels and B&Bs to understand customer problems better, I realised that the real issue is not the discoverability of these hotels but the (lack of) predictability of experience. There was no set minimum standard of quality and service at non-branded hotels, and the degree of distrust among customers was high. I saw a potential opportunity, started worked towards solving this problem in India's hospitality market and launched OYO, which has today become India's largest network of branded hotels. As I started on my journey, I realised I needed more than just my enthusiasm and personal inspiration to convert my idea into a real business. Today, we have some of the brightest minds of the country partnering with me to solve problems that have plagued the Indian budget hospitality sector for ages.
India offers a huge opportunity to entrepreneurs who want to solve a problem in a meaningful way. A growing number of people are leaving their 9-to-5 jobs to start businesses that make a real difference in the lives of people. This helps the economy in more ways than one-while the entrepreneur can use his acumen to create a product or solve an existing problem, thereby earning a livelihood, many a time they are also able to generate significant employment for other members of the community
One doesn't have to build a multi-million dollar company to be successful or to help the economy grow, in fact, small businesses act as the employment engine of the economy. As for the job-creating capacity of a company, the size of the business doesn't matter as much as its vintage. New and young companies are the primary wellspring of jobs.
The growing penetration of smartphones in the interior parts of India, and investment from retailers are contributing to the rapid growth of mobile-commerce in the country. Over 50 per cent of OYO's bookings come through our mobile app. By creating jobs, we can uplift and empower the less-privileged sections of society and transform India. Creating the right jobs is also equally important for a robust, secure and healthy economy. The non-branded hospitality sector suffers a huge training void. In order to fill this, we are working with the Tourism and Hospitality Skill Council (THSC) to train and certify hospitality staff across the country and deliver skilled manpower to the industry. As a part of this Skill India initiative, we aim to train approximately 3 lakh workers across 150 cities in the next three years.
It takes a lot of courage to leave a stable, well-paying job and enter the uncertain world of entrepreneurship. But the rewards are not just personal-when you are able to provide options to customers and job-seekers, have a transformational effect on the lives of others, and contribute to the overall ecosystem, you feel it is a higher calling-one that you correctly heeded!
By Ritesh Agarwal, Founder and CEO of Oyo rooms