A Qualitative Analysis of the Success of Entrepreneurship Development Programs Based on Segment Studies

Development Programs Based on Segment Studies Sarita Solanki Rana, S. K. Jain, Rajbir Singh & Bhupender Kumar Som 1 Research Scholar, DCRUST, New Delhi-85, India 2 Vice Chancellor Shri Mata Vaishno Devi University & DMS-IITD, India 3 Professor DCRUST, Murthal, Haryana, India 4 Associate Professor, Jagan Institute of Management Studies, Sector-5, India * Bhupender Kumar Som, E-mail: bksoam@live.com

the greater the commitment to, and formalization of academic programs, the more will be the institutional resources committed, the higher will be the financial aid, and the greater will be the number of extracurricular organizations (clubs, societies) available. Friedrich, Glaub, Gramberg and Frese (2006) have assessed the impact of entrepreneurship education oriented programs on entrepreneurial intentions of participant's next entrepreneurship courses at six Iranian universities.
Results concluded that entrepreneurship oriented programs significantly influence perceived behavioural outcome in term of entrepreneurship field. However, no support was found for the effects of entrepreneurship oriented programs on attitudes toward entrepreneurship and intention. Fayolle (2000) investigated student and faculty attitudes toward entrepreneurship and entrepreneurship education programs. The authors examined students' level of interest in entrepreneurial education, perceptions of motivations and barriers to start-up businesses, and occupational aspirations. Student and faculty respondents represented a variety of disciplines in and outside colleges of business. Key findings stated that interest among non-business students suggests a significant opportunity to formally expand entrepreneurship-related education beyond the business school. Chrisman, McMullanb and Hall (2005) have evaluated the performance of Entrepreneurial Development Programmes from the stance of the banks, to study the factors influencing the attitude of the entrepreneurs towards the Entrepreneurship Development Programmes. The result stated that there is no relationship between the age group of the prospective entrepreneurs and their attitude towards the training program. Also, there no relationship was found between the educational background and the level of attitude and it is proved that educational background does not influence the attitude of the respondents towards the training program. It was also concluded that the family background of the respondents influences the attitude of the respondents towards the training program. Bosma and Levie (2010) have stated that individuals who perceive the existence of business opportunities and other benefits (e.g., access to capital, availability of business information) are more likely to make the decision to start a new business. On the other hand, if the individuals have negative perception regarding the environment of the business, they may not decide to start their own business. Clark, Davis and Harnish (1984) have empirically applied theory of planned behaviour to students' entrepreneurial intentions and assessed the impacts of entrepreneurship education oriented programs on the perceived behavioural and found no support for the effects of the entrepreneurship education oriented programs on attitudes toward entrepreneurship and entrepreneurial intention. A possible explanation for this conclusion was also provided, that the students had positive attitude towards entrepreneurship and high entrepreneurial intention at the beginning of the program and therefore there was less scope for changing their attitudes and intention. Syal and Dhameja (2003) have emphasized that in addition to personality traits, several individual difference variables have also been found to predict entrepreneurial behaviours. This paper has analyzed that those with prior experience in entrepreneurial activities, like business background have higher entrepreneurial intention compared to those with no prior experience. Hussain, Bakar and Bhuiyan (2014) has found that entrepreneurial processes were important in the successful entrepreneur's development from an extremely unpromising and constrained from an extremely unpromising and constrained environment. Rose, Kumar and Yen (2006) have found the relationship between the dependent variable Venture Growth and fourteen other independent variables. Oosterbeek, van Praag and Ijsselstein (2010) described factors whose intervention is more effective and for whom and for which outcomes? Zhao, Seibert and Hills (2005) has found that Community based enterprises that have been successful have www.scholink.org/ojs/index.php/jbtp Journal of Business Theory and Practice Vol. 5, No. 3, 2017 238 Published by SCHOLINK INC.
been generally underpinned by embedding culture and their community in their business operations have access to finance, and they conduct their businesses on the basis of sound governance, business advice and networks. Cho and Honorati (2013) has addressed which interventions and combinations of programs are more effective in enabling the poor to operate their own business, which types of skills (business, technical, "soft skills") and capital (cash, in kind, credits) are more relevant? Von Graevenitz, Harhoff and Weber (2010) has found that Internal and external factors are crucial for the success of small business as perceived by rural entrepreneurs.

Methodology Used for the Analysis
The primary criterion for the effectiveness of the Entrepreneurship Development Program can be measured from the viewing of the change in the perceived and the actual opinion after attending the EDP.

Parameter Used in Measuring Performance
The survey conducted by us consisted of wide range of questions aimed to directly measure the response of the workshop. The primary parameters used in the survey consisted of: i) Perceived benefits before attending the EDP.
ii) Actual benefits after attending the EDP.
The Perceived benefits represent the opinion of the people about the program prior to attending the program. This opinion about the programis of prime importance as it tells us about the reputation of the organizing institute and the view held by people about them.
The Actual benefits will tell us the real nature of the program.
The Difference between them tells us about the change in opinion. All the readings are taken on a Scale of 1 to 5. One representing the lowest and the worst rating and five representing the highest rating and the best. The problem with viewing the simple change is that suppose the perceived rating for a particular parameter is five that is maximum it cannot increase but it can remain same or decrease. If it remains same there would be zero change and if it decreases it will represent negative change. In both situation, there will be confusion regarding the nature of the opinion if we go through just the change so we need all possible permutation scenario of the changes in the parameter rating. One such rating table is designed by us to study the nature of change in the opinion. It is as follows:

To Study Actual Benefits Delivered
Apart from studying EDP delivery meeting expectation we also study the gap between importance of perceived output and actual output by comparison of mean and variances. Therefore, subsequently analyzing importance of expectations we collected responses on same parameters after completion of entrepreneurship development program. A five-point scale for meeting the expectations is used to quantify the gap for all ten parameters in following manner.

1) Didn't meet expectations at all;
2) Didn't meet expectations; 3) Met expectations; 4) Moderately met expectations; 5) Higher than expected. Now we find out whether there is difference amongst parameters when it comes to level of meeting expectations from actual output. In order to do that we first compile means scores along with variance.
Following table shows the sample output. All parameters meet the expectation equally on completion of EDP or And is not true.
From Table 4 analysis of variance, it can be observed that F-statistics is above F-critical hence we reject null hypothesis that all parameters equally met the expectations. Therefore, the difference of means (i.e., difference amongst meeting the level of expectations from EDP) is statistically significant.
The description of mean values in Table 4 clearly indicated the most met and least met expected parameters.

Conclusion
In segmentation based analysis, we are trying to find out the attitude of the various segments towards the Entrepreneurship Development Program. Our first segmentation is based on the criteria that distinguishes between the people who hold a new venture setup at the time of EDP vs those who do not own a new venture at time of EDP. We find that a greater percentage of people who attended the workshop hold a new venture at the time of EDP.
The ownership status be it in graduates or post graduate shows that more people are interested in partnership rather than being in complete ownership. The reason for major segments being inclined towards partners is because the uniqueness, knowledge and experience that partners might add to the business.
At Parameter Risk taking we found that among all the four groups the new venture owners who are graduates and have partners consisted of majority 45% members who rated the EDP poor in the risk taking factor and another 16% from the same group just found the EDP satisfactory while most of the graduates who were complete owner with a majority of 56% rated the EDP as Good and another 18% found it satisfactory we can clearly see the contrast that a majority in graduates with complete ownership found the EDP Program in risk taking as good at the same time the graduates with partners found it unsatisfactory. The response of the majority in post graduates tends to the view that the EDP was good.
From the analysis, we can clearly see that the new venture owner who are graduates and complete owner were most satisfied at parameter Business opportunity identification with only 25% people being not satisfied whereas in all other parameter close to 40% people were dissatisfied with this parameter. All the segments are concordant about the decision the EDP was not successful in Fostering Leadership skills. This parameter need immediate attention by organizers of EDP as for any venture to succeed we need the entrepreneur to be great leaders who can motivate and lead his employees. This gives us the opinion that most people around 45% found that they had satisfactory knowledge. Only 4% of the People in postgraduate level that too who had partners had very good knowledge. None of the person who attended EDP had exceptional knowledge. A major portion of people believed they had poor knowledge after they attended the EDP.
The new venture owners who were graduates and had partners, over 50% of them found that the EDP was worse at confidence building. Similar results were shown by postgraduates with partners whereas 44% of graduates with complete ownership found that the EDP was good in confidence building and 64% of them found EDP more than satisfactory and similar result was shown by post graduate who were complete owners. Overall 60% complete owners were satisfied with this parameter of EDP whereas around 60% people with partners were dissatisfied. Post Graduates with partners involved consisted of 70% majority who were most satisfied with Management skills imparted to them in the EDP whereas in all other sections majority of the people were dissatisfied with graduates with complete ownership www.scholink.org/ojs/index.php/jbtp Journal of Business Theory and Practice Vol. 5, No. 3, 2017 265 Published by SCHOLINK INC.
topping the chart with a majority of 60% people rating the Management skills imparted to them equal to or less than 2 points out of 5. The post graduates with 56% majority rated the EDP good at Network Building. In all the other segment around 60% people rated the EDP above satisfactory level.
Graduates were having majority 40% people who were dissatisfied in Network building parameter.
Overall EDP can be considered successful as more than 60% people regarded it as satisfactory.
35% of those who did not own a new venture at the time of EDP thought of setting up an enterprise and another 20% were thinking moderately to set up an enterprise these numbers indicate that the EDP was not a complete success but it does have potential to improve its program and convince at least half of the people to strongly think about setting up their enterprise.

Scope for Future Work
Since we focused on the segregation based studies to study the qualitative effectiveness of the EDP we have not analyzed as to why any parameter which lacked to garner effective response from the audience as to why it failed. The reasons why any of these parameters failed would be crucial to improve the effectiveness of the program these reasons shall be further investigated both quantitatively and qualitatively by us in the future.