Bhutan which is a small developing country, over the years have made significant development both politically and socially and has seen its economy grow to some extent over the period of time. With the growth in the country’s economy as well as improvement in technologies and facilities, more and more employment opportunities are available. Although with the positive and steady pace of its development, increasing number of graduates has flooded the job market making it hard to find employment in both public and private sectors. This has led to students take up entrepreneurship after graduation to create their own source of livelihood. Entrepreneurship was in the past a less preferred option of line of work and most of the graduates looked …show more content…
The challenges most of the entrepreneurs face in Bhutan are the lack of resources available in the country. The resources to manufacture products are scarce in the country and it hence hinders the productivity and capabilities of the entrepreneurs. The other challenges the entrepreneurs face are the unavailability of advanced technologies and machineries. Advanced technologies and machineries are expensive and not available in the country and hence the entrepreneurs have to settle with low end equipment and technologies which disrupts the quality of the products. Better technologies have to be imported and are far more expensive for purchase. Another challenge the entrepreneurs or the ones wanting to become entrepreneurs face are getting approval to start their business and for the banks and financial institutions to grant them loans. Lack of financial aid causes different entrepreneurs not to set their business plan into reality. Lastly most of the people are hesitant in taking up entrepreneurship due to high chances of failure to make profits, criticism from various organizations and individuals and the hard work and perseverance needed in this …show more content…
There should be more number of entrepreneurs in Bhutan as these private organizations are more likely to generate employment opportunities. With the job market flooded with graduates and post graduates, entrepreneurs can help reduce or even solve unemployment in the country. Entrepreneurs can also introduce advanced technologies and equipment which can help in the country’s development. Private organizations are more innovative and with the increase in the number of entrepreneurs, more new innovations can take place in the country. Another reason why more number of entrepreneurs should be encouraged is due to new business ideas, the society and the country is greatly benefited. Business such as waste management can not only help the entrepreneurs in making fair amount of profit but they can as well benefit the society by helping them keep the environment
Most graduates choose to go into the workforce to find ways to utilize their degrees and
If more people went to college, and less went the vocational route, jobs will take a momentous hit. Today, companies will not even touch an application that does not include a Bachelor’s Degree; even if the Bachelor’s Degree has nothing to do with the job being applied for. Attention is not given to whether the hopeful applicant qualifies for the job; all that matters is that the applicant has a Bachelor’s degree. Murray best sums up the American job market when he says, “Employers do not value what the student learned, just that the student has a degree” (Murray). However, if less people obtain a Bachelor’s Degree, employers will be forced to base applicants on their skills, and abilities. Furthermore, important vocational jobs that lie vacant will be filled. Good electricians, carpenters, and construction workers will always be in
Entrepreneurship is a valuable skill that every person should acquire and use in their lifetime,
Graduating can be a very exciting moment in life, but it can be difficult to find jobs after graduating. The loss of jobs has increased since the Great Depression and the
For most people who want to pursue and can afford higher education, and also is ready to suffer from debt; the option is always available. Whether it’s to continue on achieving a bachelor’s degree, after gaining a high school diploma, or from a master’s to a PhD; when entering the job market with these degrees, which states that these graduates are certified to work in a specific field; they’ve majored in at a university, college and technical school; the graduates are now looking to be employed at a job that will provide a good salary; this will allow them to make a living for themselves and/or family. Additionally, this new founded job will help them pay off their college debt. Everyone has their own personal meaning to what they believe,
But this still does not give them any satisfaction. And most the time, during holiday because of poverty, student have to sells in the street in order to be be able to help their parents to pay for school tuitions, and sometimes most of them have to create a small business to be able to gain money to help their family, brother and sister schools. The government introduced entrepreneurship programs to promote and enhance skills acquisition, the spirit of creativity, self-reliance and self-independence. In other to examined the determinants of entrepreneurial intention amongst university students in Cameroon, the motivations and obstacles, to entrepreneurship among university students in Cameroon, and whether there is any significant difference between entrepreneurial intention and selected demographic variables (gender, entrepreneurship education, and family background). This could be an example to be carried out by other sub-Saharan countries, to reduce the rate of unemployment. The training and support of more qualified teachers is also something not to be disregarded in the improvement of youth unemployment in sub-Saharan Africa. The capacity of having good and well-
One of the major problems Lewis and Zaidane’s argue in their piece is that fifty-three percent of graduates are unemployed (587). People are attending college, accumulating debt, and are not able to start careers. Recently, a student graduated with a degree in marketing and because of low unemployment rate he had to work as a bartender. More people will have degrees than jobs in the next ten years.
Corporate Entrepreneurship can be seen as the process whereby an individual or a group creates a new venture within an existing organization, revitalizes and renews an organization ,or innovates. Zahra’s(1986) definition of corporate entrepreneurship suggests a formal or informal activity aimed at creating new businesses in established firms through product and process innovations and market developments,whereas sathe(1985) defines corporate entrepreneurship as a process of organizational renewal. Corporate Entrepreneurship has emerged as a much needed ingredient contributing towards the growth of any organization under a changing business environment.
Entrepreneurship incorporates unconstrained imagination and a readiness to settle on choices without strong information. The entrepreneur may be driven by a need to make something new or assemble something unmistakable. As new ventures have low achievement rates, the business person should have impressive tirelessness. Because of this, the entrepreneur may have the best risk of achievement by concentrating on a business sector corner either too little or too new to have been commanded by built up organizations.
Nowadays, entrepreneurship becomes most popular career, where our government encourages our graduated student to involve in business so that unemployment will not happen in our country. Policymakers, academics, and researcher agree that entrepreneurship is a vital route to economic advancement for both developed and developing economics (Zelealem et al., 2004). Entrepreneurship has many types for example small business and others. Today small business, particularly the new ones, is the main vehicle for entrepreneurship, contributing not just to employment, social and political stability, but also to innovation and competitive power (Thurik & Wennekers, 2004).
It can be concluded that entrepreneurship cannot exist in the absence of innovation. Innovative entrepreneurship is the key to a successful business leading to economic development. Entrepreneurs are very prominent figures of society and therefore their actions and decisions have a significant impact on the welfare of stakeholder groups. Sustainability plays a vital role in this relationship in that it provides a solid foundation upon which a business can expand with more temerity and assuredness.
Many people dream of becoming entrepreneurs someday. But it made me realize that there other factors that needs to be taken into consideration. We need to ask ourselves are we ready to take the challenge to the outside world. Not everyone have the vision, innovation and creativity to become an entrepreneur. The individual must have a positive attitude and accept the responsibility, have discipline to meet their goals, and take action when the opportunity presents itself. Many prefer a job security and rely on a weekly paycheck, while entrepreneurs will take risks and doesn 't have that luxury to know the amount of their income.
Entrepreneurship is a key driver of our economy, wealth and the majority of jobs are created through entrepreneurship, and it also helps and educates people in terms of growth and realizing opportunities (Nolan, 2003). Entrepreneurship is also seen as one of the important contributing factor to local development (Nolan, 2003).
Business involved by two or more members of the family and is owned within the family is the simplest way to define family business. In this type of business the positions in the company is filled according the family blood. The founder of the business is usually the skull of the company, the rest of the positions are taken place by the family member which are usually higher positions where else other positions are filled by non family members.