Venture Creation Case Study

The intention to create, knowledge of what is to be created and the confidence in creating and setting up a new venture, are the three basic requirements for successful venture creation. Creating ventures without relevant knowledge can be considered as reckless even when there exist a strong inclination and intention for venture creation. Thus, appropriate entrepreneurship education is a precondition for acquiring the right exposure, knowledge and intention about entrepreneurship (Shane & Venkataraman, 2000). The following attributes operationally define venture creation:

Creation Intention:

The concept of venture creation intention reflects the potential entrepreneur or individual’s intent and desire to start a new enterprise or business. It precedes the identification of opportunities and is often based on a strong sense of self-reliance and self-determination as well as a need for fulfilment. The intention is as a result of a mind-set of consciousness that precedes action but is focused on the

Recent studies however tend to tie entrepreneurship to thought and behavioural patterns which is relevant to every societal and economic facet, and such a perception of entrepreneurship currently requires a different approach to skill development. Entrepreneurial education today is aimed at developing the individuals’ mind-set, attitude, capabilities and behavioural tendencies; characteristics which can successfully be applied to the creation and addition of value to a wide range of frameworks and contextual settings from the public sector, charities, tertiary institutions and social enterprises to corporate organisations and new venture creations (Shane, 2000; Akpa, 2007; Holt,