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ENTREPRENEURSHIP EDUCATION TO PREPARE NOVICE ENTREPRENEURS.

Byline: DR. IRSHAD HUSSAIN and PROF. DR. SHAHIDA SAJJAD

Abstract

Entrepreneurship education develops and promotes entrepreneurial skills and attitudes among graduates so as to make them able to take initiatives and start their new business. Generally saying, entrepreneurship education nurtures human capital through investment on human -their schooling as well as follow-up training on the job. It cultivates attitudes and aspirations among graduates to establish a new firm or a company. Entrepreneurship education seems to be associated with entrepreneurial self-efficacy to enhance entrepreneurial intentions among graduates. Seemingly, entrepreneurship education promotes awareness among graduates about an alternative career path to employment. It offers courses about or on business planning and starting a new business. It would promote employment canvas and tendency to take risks among the graduates.

The graduates equipped with entrepreneurial knowledge and skills are more confident to start new business and become independent economically. They also facilitate others by extending employment opportunities. Therefore, entrepreneurship education can play a significant role in economic development of an individual, society and the country.

Keywords: Entrepreneurship, Entrepreneurship Education, Entrepreneurs, Business, Entrepreneurial Intentions, Self-competence, Risk Taking

Introduction

Being self-sufficient and economically independent is the wish of every individual. Apparently, all think but a few do so. The individual who struggle to become self-sufficient seems to be creative, innovative, and confident. They have the ability to take risks and initiatives in setting up their new business to raise income. Such individuals may be termed as entrepreneurs and the phenomenon as entrepreneurship. The term entrepreneurship is business related phenomenon which explains the activities necessary to start and maintain ones' business to raise ones' income by enhancing opportunities of/ and employment. It consists of all activities which are related to business and enhance one's income -establishing a firm or a company, buying and selling things, public relations, understanding market dynamics, and marketing etc. Whereas, entrepreneurship education inculcates entrepreneurial skills and abilities among graduates.

Fayolle, Gailly, and Lassas-Clerc (2006) defined entrepreneurship education as "any pedagogical [program] or process of education for entrepreneurial attitudes and skills" (p. 702) to promote among learners or would be entrepreneurs. However, Johansen and Schanke (2012) put forward an elaborative concept of entrepreneurship education and said that it is the promotion of different entrepreneurial capabilities, personal qualities of students and their attitude towards innovation, creativity, enthusiasm to overcome risk, and develop self-competence and social skills. The concept embraces taking initiatives in starting a business and making innovation in the existing one. The educational concept of entrepreneurship incorporates such subjects and activities into curricula which develop basic skills to become self- dependent, self-sufficient and self-employed.

Entrepreneurship education consists academic programmes and courses designed to offer to potential entrepreneurs under the supervision of an institute or department through innovative pedagogical techniques and strategies -constructivism, experiential learning etc. These are skill oriented programs and employ such methods and techniques which suit best the needs of learners/ potential entrepreneurs according to the content.

According to Jamieson, (1984) there are three different types of entrepreneurship education; education for awareness; preparing aspiring entrepreneurs; and training of the existing entrepreneurs to address the needs of different graduates. Whereas, Linan (2004) presented four types of entrepreneurship education which consist of education for awareness, education to start-ups, entrepreneurial dynamism, and continuing education for existing entrepreneurs. The most basic of all these is the education for awareness which is imparted to those who want to become entrepreneurs and allows them develop such skills which help them in selecting a proper career or profession in their lives. In this regard, Garavan and O'Cinneide (1994) were of the view that usually, most of the universities offer education for entrepreneurship awareness aiming at enhancing such awareness among their graduates and work for preparing potential entrepreneurs.

Such type of courses or programs promote greater awareness among those graduates who have not already decided to take up a profession or career or who have no experience of running a business.

Usually, two terms i.e. entrepreneurship education and entrepreneurial intensions are used to discuss entrepreneurial matters in broader context. Bae, Qian, Chao Miao, and Fiet, (2014) differentiated between the two by describing that entrepreneurship education refers to the education which is imparted for developing entrepreneurial attitudes and skills among graduates; whereas, entrepreneurial intentions are the desires and aspirations of the graduates [individuals] to start or own a business. Hence, entrepreneurship education prepares graduates by equipping them with necessary skills and attitudes to become entrepreneurs in their lives. It also motivates them to own or start a business through conducive incubation training and internship. Therefore, entrepreneurship education also develops and sustains motivation among the graduates to become successful entrepreneurs.

Bae, Qian, Chao Miao, and Fiet, (2014) further identified positive relationship of entrepreneurship education to entrepreneurial intentions on the basis of Becker 's (1975) theory of human capital and entrepreneurial self-efficacy which was put forward by Chen, Greene, and Crick (1998).

In real sense, the entrepreneurship education cultivates human capital by helping graduates learn the skills and knowledge through investment on their schooling and on-the-job training (Davidsson and Honig, 2003; Unger, Rauch, Frese, and Rosenbusch, 2011). According to Linan (2008) an entrepreneurship education appears to cultivate the attitudes and aspirations among graduates to set up a new firm or a company. A significant relationship between entrepreneurship education and human capital outcomes - knowledge and skills, recognizing entrepreneurship, and intentions was found by Martin, McNally, and Kay (2013). Entrepreneurship education plays a catalyzing role in prompting graduates start some profit-based economic activity. According to Wilson, Kickul, and Marlino, (2007) association of entrepreneurship education with entrepreneurial self-efficacy appears to enhance entrepreneurial intentions which are necessary for successful entrepreneurs.

Successful entrepreneurs are those who start their new business in such a way that it grows with the passage of time. They become role models and success stories for the others. It gives them an alternate career path in professional life making them become employers rather searching for a job.

Imparting or offering entrepreneurship education usually seems to heighten awareness among graduates about an alternative career path to employment (Slavtchev, Laspita, and Patzelt, 2012). They think in a pragmatic way and choose business as profession. It not only accommodates themselves but necessitates others also. According to Linan, (2008) entrepreneurship education offers courses about or on business planning and starting a new business. It would promote employment canvas and tendency to take risks among the graduates. They become aware of how to start a business, how to maintain it, and how to expand to facilitate the community.

It is clear from the above discussion that entrepreneurship education enables graduates to set up new business by risk taking with firm intentions. It make them capable of becoming successful entrepreneurs and employers instead of searching a job and being employee. When young graduates establish their own business and promote and provide employment opportunities to others, actually they support others. They play their active role in community development by empowering individuals through employment. They become independent self- sufficient and self-reliant. Their lifestyles and living standards are raised and their social conditions are changed as a result of it.

Pedagogy of Entrepreneurship Education

There are different pedagogical strategies and techniques to impart entrepreneurship education including business planning and venture creation (Kuratko, 2005) methods. The students are involved in activities at the campus and during internship or incubation period. They get hands-on practice and training which leads them towards becoming entrepreneurs. According to Honig, (2004) majority of the courses and programs consist of business planning; and Youndt, Subramaniam, and Snell (2004) viewed it to strengthening the skills of graduates regarding formulation of a business plan according to their entrepreneurial intentions. But Lee, Chang, and Lim (2005) asserted that majority of the universities offer their courses on venture creation through their entrepreneurship education. These courses make graduates able create ventures practically even they create a mini company. Both business planning and venture creation develop an urge and passion of business among graduates.

Business training needs innovative pedagogical strategies. Therefore, Brown, Collins, and Duguid (1989) emphasized on hands-on practice and apprenticeship training to make young entrepreneurs independent initiators. It develops entrepreneurial skills like managing individual and others which are direly needed by entrepreneurs. Learning by doing and involving learners in learning process ensures effective learning. It ensures maximum retention of learning. Hussain and Sultan (2010) asserted that learning by doing involves learners actively and suits best in developing skills among adults; and Minniti and Bygrave (2001) endorsed it by describing that it enhances confidence of entrepreneurs in taking initiatives and important actions in critical situations. Learning by-doing enriches practical experience of the learners -the young entrepreneurs leading to venture creation as well.

Pakistan is a developing country having unskilled manpower. Therefore, it is dire need of the country and society that entrepreneurship education may be revolutionized. The young entrepreneurs should be trained to start small and medium size enterprises. Universities and colleges should offer diploma and degree level courses and programs to cater the entrepreneurial needs of the young aspirants. Successful incubators at the Lahore University of Management Sciences (LUMS), National University of Science and Technology (NUST), Institute of Business Administration (IBA) Karachi and Sukkar and many other departments and institutions offering entrepreneurial education in public or private sector should be replicated at newer departments and institute. Entrepreneurship education should be encouraged through incentives and continuous facilitation by the government and the masses.

Tax rebates may be granted to the young and new entrepreneurs, particularly, to those who set up their enterprises in remote and under developed areas of the country. Mark-up free loaning schemes may also be useful to attract novice entrepreneurs.

Similarly, short skill development courses and locally need based courses should be offered according to the need of different geographical areas of the country. For example courses on fisheries and sea foods may offered in Karachi and other universities or colleges near coastal areas for the respective people. Likewise, agriculture is a big industry in Pakistan. Therefore, agriculture-based entrepreneurship courses and programs need to be offered across the country. On the same lines, technical and vocational courses and programs should be offered to convert unskilled manpower into skilled technicians who later on would start their own business and become entrepreneurs. In nutshell, entrepreneurship education is an emerging phenomenon to contribute a lot in socio-economic development of the nation and the country.

Conclusion

It is obvious from the above discussion that entrepreneurship education equips young potential entrepreneurs with necessary skills which are needed to be successful entrepreneurs. It prompts them to start a new business or run the exiting one with some innovative strategies and styles. It flourishes and promotes human capital even starting from school level and going up to the university education. It is something which believes in investing on education and training of young entrepreneurs to make them capable of producing opportunities of employment instead of being employees. It promotes attitudes and aspirations among graduates to establish a new firm or a company. Apparently, it is associated with entrepreneurial self-efficacy to enhance entrepreneurial intentions among the graduates. It disseminates awareness among the graduates about an alternative career path to employment.

Usually, courses on business planning and establishing a new business or firm(s) are offered. The graduates have extended opportunities of employment with a large canvas of alternatives by nourishing risk taking tendency among them. Such graduates are more confident psychologically, independent economically and useful socially. They can participate in community development by extending and providing employment (opportunities) to others. Therefore, entrepreneurship education is necessary for economic development of an individual, society and the country. Keeping in view the significance of entrepreneurship education, it seems necessary that it should be included in curricula of all levels of education starting from the secondary education in Pakistan. It would make graduates to become independent and less dependent on jobs either in public or private sector.

References

Bae, T., J., Qian, S., Chao Miao, C., and James O. Fiet, J. O. (2014). The relationship between entrepreneurship education and entrepreneurial intentions: A meta-analytic review. Baylor University

Becker, G.S. (1975). Human capital (2nd ed.). Chicago: University of Chicago Press.

Chen, C.C., Greene, P.G., and Crick, A. (1998). Does entrepreneurial self-efficacy distinguish entrepreneurs from managers? Journal of Business Venturing, 13(4), 295-316.

Brown, J.S., Collins, A., and Duguid, P. (1989). Situated cognition and the culture of learning. Educational Researcher, 18(1), 32-42.

Davidsson, P. and Honig, B. (2003). The role of social and human capital among nascent entrepreneurs. Journal of Business Venturing, 18(3), 301-331.

Fayolle, A., Gailly, B., and Lassas-Clerc, N. (2006b). Assessing the impact of entrepreneurship education programmes: A new methodology. Journal of European Industrial Training, 30(9), 701-720.

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Hussain, I., and Sultan, S. (2010). Learning by Doing: Learning by Doing: Outcomes of Teaching a Research Course through Group Activities; in Proceedings of the Annual International Conference on Computer Science Education: Innovation and Technology (CSEIT) 2010. Published and Organized by the Global Science and Technology Forum (GSTF) Singapore -December 6-7, 2010.

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