Dimapur, October 8 (MExN): The ICFAI University Nagaland conducted its 12th NJY Memorial Lecture in memory of the founder of the ICFAI Society on October 6.
An introduction about the founder late NJ Yasaswy was delivered by Rupanka Bhuyan, Registrar. A press release received here stated that Bhuyan spoke about the philosophy of the great personality and his initiatives particularly in promoting professional education through the 37 ICFAI institutions which include Law Schools, Technical Schools, Business Schools and universities in the country.
The speaker of the memorial lecture, Dr S Borbora, Vice Chancellor ICFAI University Nagaland spoke on the topic ‘Entrepreneurship and Innovation: Understanding Institution Environment.’
Dr S Borbora mentioned in his paper that various studies were conducted to highlight the individual attributes and capabilities of entrepreneurs like risk bearing attitude and discovering new opportunities. Entrepreneurs need a favorable institution and conducive environment in which they can implement their ideas.
He also indicated that the second best link for measuring entrepreneurship is Micro Small and Medium Enterprises. The institution plays a role in shaping and administering the interactions of human beings by providing a help in having a prior knowledge of what other people will do. The concept of entrepreneurship comprises numerous dimensions like unique traits, risk taking, opportunity recognition, coordination, recombination, motivation and innovation.
The paper also highlighted that the formal, informal and the enforcement mechanism of the institution are to create order in the society and to reduce uncertainty in exchanges. The policy makers should focus on improving institutions, rather than trying to frame policies such as increasing the quantity of subsidies for education, technology, and venture capital.
The event was chaired by Dr Kevizonuo Kuolie, Associate Dean.
