Social and Sustainable Entrepreneurship
Topic: - Establishing shared value in Education sector by targeting the Bottom of pyramid in Andhra Pradesh.
Problem and Vision Statement: - To provide affordable and reliable coaching for the BOP students at their local village. The current scenario is like the coaching institutes are based only in cities and the price range is too high for students especially from villages to use this product and service offered by many education firms.
The main theme of the paper is about analyzing and finding out the feasibility about the sustainable and social entrepreneurship in the education sector targeting specifically to the BOP ...view middle of the document...
The total population in India is around 1.2 billion and 68.8% of this amount is the rural population. In terms of Literacy the average Indian literacy rate is 74% with the state of Kerala (94%) being the highest and Bihar state (63%) being the lowest. The analysis done in the paper is to increase this as high as possible. As a first step the analysis in the paper is done for the state of Andhra Pradesh which has 67.66% literacy rate and ranks 5th from the bottom. This state ranks 10th in the list of population and has around 50 million people and 1/5th of it are the people from the age 15-20 years and majority of them live in the rural areas of the state. This is the specific target segment this paper’s analysis is focussed on.
Education a problem and a market:
Education is one of the most essential needs for human development after the basic necessities in life. India is a country that ranks high in the list of corrupt countries and poverty. Having a proper education will dramatically reduce the problems and also will enable people to lead a better life by providing them with wonderful job and economic opportunities. Rural communities will develop leading to a more educated and sustainable India in the near future.
Triumphant Institute of management Education (TIME) is the leading provider for coaching services to various Indian exams and also international exams for various universities and disciplines. They are the market leaders in this segment for quite a long time. They are led by an excellent management team and their staffs are equally talented and dedicated. They have their own resource centre where all the materials get printed and these materials are up to date in terms of any changes in the exams structure or changes to the inclusion or exclusion of literatures and topics. Time has offices all over India and in every state. So there are around 35 offices in the state of Andhra Pradesh a southern state where this paper focuses on and they have one office each in the districts of Visakhapatnam and Vizianagaram (Pilot Program targeted cities).
Andhariki Chaduvu: (Translates to Education for all)
This will be my start up with 3 of my friends and hopefully all goes well. Apart from 4 of us there will be one other person from TIME who will help us with scheduling of the classes and responsible for the timely delivery of the materials. All our resources are outsourced from TIME and the local community schools. Unlike TIME we are focussed only on the two main entrance exams in the state/country for Engineering and Medicine (Engineering and medicine common entrance test- EAMCET). These are the two areas of hot interests in Indian students. More details of our plans and actions are explained in details in the sections below.
How our sustainable and social model is trying to solve the two main factors contributing to the issue of lack of standardized coaching for students.(Based on paper...