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PGDM in Entrepreneurship vs. Innovation Management: Crafting Your Future

25 March 2024

The pursuit of post post-graduation diploma in management for entrepreneurship and innovation management opens a large door of possibilities for young, and creative business enthusiasts.
Entrepreneurship as a discipline for PGDM equips students with backing knowledge and skills that are mandatory to ideate and develop a venture for oneself. The innovation management programme is mainly structured with theories and practices that are required to foster organisational growth and competitiveness through strategic innovations and creative problem-solving skills. The subject relevance and market demands have further led to the increased outreach of both specialisations. Here is everything you need to know before enrolling for either of the courses.

PGDM in Entrepreneurship vs. Innovation Management: Course Duration and Eligibility

The postgraduate diploma in marketing for entrepreneurship and innovation management has been structured for 2 years. In these two years, students are introduced to various theoretical papers along with practical and internship exposure.

The eligibility criteria for pursuing a PGDM in Entrepreneurship and Innovation Management are having completed a bachelor’s degree with an overall aggregate accepted by the university. Prior knowledge in the commerce field is a plus upon considering the course structure and syllabus.

PGDM in Entrepreneurship vs. Innovation Management: Course Curriculum

The course curriculum for PGDM in Entrepreneurship and PGDM in Innovation Management was drafted after researching the industry requirements and career possibilities.

Subjects included in PGDM Entrepreneurship: Management Foundations, Business Environment, Basic Mathematics and Statistical Techniques, Computers in Management, Introduction to Family Business Management, Polity and Society, Behavioural Science and Quantitative Techniques for Management.

Subjects included in PGDM Innovation Management: Impact of Globalisation, Technology Concepts,  Innovation Strategies, Creative Thinking and Reasoning, Product Analysis, Conceptual Design, Idea Visualisation, Design Research, Value Creation
Design and Manufacturing Management.

PGDM in Entrepreneurship vs. Innovation Management: Career Opportunities

Entrepreneurship and Innovation Management are unavoidable fields of study and business in the world economy and jobs are available in ample amounts.

Career Options for Students Opting for Entrepreneurship:

  1. IT Companies: Entrepreneurs can ideate and create a technology that is useful to the industrial world and initiate the establishment as a startup. Further, the dynamic benefits of the technology created can be used as a marketing strategy for signing investors and venture capitalists.
  2. Agriculture Sector: Entrepreneurs can come up with innovative ideas and scientific findings to boost the yield of crop production, followed by the selling of the products.
  3. Small and Medium Entreprises: Entrepreneurs have the liberty to start any initiative at both small and medium scales after understanding the market needs and resources available.
  4. Consultancy: Provides valuable suggestions and advice after deeply understanding the business project and method of operations.
  5. Marketing Strategist: Engaged in identifying and guiding the right marketing strategy for the client’s business.

Career Options for Students Opting for Innovation Management:

  1. Innovations Manager: Engaged in ideating and developing new products with marketing selling potential.
  2. Marketing Head: Oversees the marketing team by monitoring the strategies and taking up responsibilities while representing the company to external stakeholders.
  3. Business Analyst: Involved in cross-examining data and identifying areas and scopes of improvement for increased revenue generation.
  4. Finance Analyst: Cross-examines the financial transactions and works on strategies to expand company assets.
  5. Human Resources Manager: Co-ordinates and directs the administrative functions of an organisation.
  6. Operations Manager: Engaged with the overall functioning of the product/ service generation, which means from production to distribution, customer-relationship and more.

In Short

PGDM programmes of entrepreneurship and innovation management further educate about the interplay between the two discussed business fields in terms of creation, transformation and sustainable growth. With business models, functioning tactics and creative problem-solving strategies, these PGDM programmes make the students industry-ready. Students wishing to opt for either of these are advised to have a thorough look at the course structure and career possibilities for accomplishing a rewarding and satisfying career.

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