Pearl School of Business (PSB) is a unit of the Little People Education Society (LPES) which is promoted by the House of Pearl as a part of its Corporate Social Responsibility initiatives. The House of Pearl is an entrepreneurial venture born out of the vision of the Chairman of PSB Management Board, Mr. Deepak Seth. Started in 1987, it has grown on the strength of its entrepreneurial vision into a global enterprise. Today it comprises manufacturing facilities in India, China, Indonesia and Bangladesh and business operations in Hong Kong, UK, USA, and Germany. Its turnover exceeds US$350 million and services all aspects of the fashion and apparel business. The House of Pearl stands today posed for significant growth with high level of client and investor confidence reflected in the success of its recently majority oversubscribed IPO.
The House of Pearl start the Pearl Academy of Fashion (PAF) in 1993 in Delhi. It reflected a synergistic extension to its line of business and its corporate social responsibility programmed under LPES of spreading education. This outlook stems out of a deep rooted belief that investment in education is the pathway to self reliance and progress. LPES started with a school Little Pearls in 1992. Now besides PAF, it is setting up PSB which focused on entrepreneurship, reflects the ethos of the Pearl Group of spreading the entrepreneurial mindset, as it deeply committed to unleashing the potential of entrepreneurial talent to further economic and social growth through the setting up of creative ventures.
In the world of business education we have nurtured a conflict. Business and Entrepreneurship - we have always thought of innovation and creativity, ability to pursue an idea, a dream, with steadfast commitment and dedication, to surmount resource obstacles for success. Management on the other hand is projected as an assortment of tools and techniques to facilitate decision making under varied conditions of uncertainty and constraints aimed at optimizing. The genesis of the conflict lies here.
Business School graduates entering multinational corporate or family businesses, encounter expectations bordering the impossible - euphemistically termed stretch - where problem solving or decision making processes hit a road block. The expectation at that time is, "Think of the company as if it is yours and your personal survival depends on it". Thus the young professional is expected to demonstrate innovation, creativity and an entrepreneurial mindset. Competition is making this need more acute and hence our corporate managers are expected to be entrepreneurial in their outlook as well. Conventional wisdom dilutes this to just a leadership issue and pretend to be building entrepreneurship by exposing students to courses on leadership and creativity. The art and craft of entrepreneurship is missed out.
The pain, tribulations and joy of enterprise creation need to be integrated into management education in the programme itself, irrespective of how the career of the management graduate unfolds. It is incorrect to confine entrepreneurial learning to only those looking out to start a new enterprise, but widen it to even those who want to build a career as professional managers. With the changing dynamics of business, large corporations and family run enterprises are looking for professional managers who combine strategic thinking with business acumen. The entrepreneurial mindset consists of an intense desire to capture opportunities by leveraging strengths, a high degree of ownership of action and ability to generate choices which are not located in resource constraints but are driven by opportunities. Total involvement implies an intense awareness of internal realities of the organization with the opportunities offered by the world. This involvement is essential irrespective of whether he is a corporate manager, part of the family business or a start-up entrepreneur.
Pearl School of Business has set about to develop business leaders who are professional managers with an entrepreneurial mindset. The unique Curriculum is specially designed in collaboration with Babson College, USA with this objective. The programmes provide an opportunity to students to experience and understand the behavioural anchors of running a business.