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Entrepreneurship education theory
What is the benefit of learning about entrepreneurship and small business management
Importance of education in entrepreneurship
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Abstract
There has been a phenomenal growth in the number of institutions offering entrepreneurship programmes because of the rising awareness of the significance of entrepreneurship education from public authorities. Although, the number of entrepreneurship education is increasing, the rate at which the programme is assessed with respect to teaching methods, contents, and its harmonisation towards the desired objectives of the programmes is minimal. In order to empirically ascertain the state of the module, it becomes prudent to examine the effectiveness of the module from the perspective of the students. A case study approach was adopted using students of Cape Coast Polytechnic, Ghana. Purposive sampling was used and questionnaires were administered
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The growth can be seen as indicative of widespread governmental belief in the positive impact that entrepreneurship can have on the socio-economic and political infrastructure of a nation (Matlay, 2008). Public policy makers recognise the importance of entrepreneurship as determinant of economic development and hence support instruments like entrepreneurship education to increase entrepreneurial activity (Fayolle et al., 2006). The value of, and the need for entrepreneurship education, which explains its phenomenal growth can be summed up in a report by the Global Education Institute (GEI) of the World Economic Forum (2009) which stated that while education is one of the most important foundations for economic development, entrepreneurship is a major driver of innovation and economic growth. Entrepreneurship education plays an essential role in shaping attitudes, skills and culture- from primary level up. In other words, entrepreneurial skills, attitudes, and behaviours can be learned, and that exposure to entrepreneurship education throughout an individual’s learning path, starting from youth and continuing through adulthood into higher education- as well as reaching out to those economically or socially excluded is …show more content…
Timmons and Spinelli (2007) looking at entrepreneurship see it as a way of thinking, reasoning and acting that is opportunity obsessed, holistic in approach and leadership. Rayne (1982) argues that entrepreneurship consists of the process of creating a business venture in order to exploit a new process, product, service or market. As with defining entrepreneurship, many entrepreneurship scholars have given different conceptual definitions of the entrepreneur (Kirby, 2004; Ireland & Webb, 2007). According to Kuratko and Hodgetts (2007), entrepreneurs are individuals who see opportunities where others see chaos and confusion. Scarborough and Zimmerer (2006), see entrepreneurs as people who exist for the purpose of achieving profit and growth by identifying opportunities and assembling the requisite resources to exploit these identified opportunities. Given the above definitions, entrepreneurship can be seen as a complex discipline and many scholars from diverse disciplines of study have attempted to define it from their own perspective of
The world is filled with many ambitious people looking to make a product to help the world and make a living for themselves and their families. These people are known as entrepreneurs. An entrepreneur is someone who organizes and operates a business or businesses while running the risk of losing everything to make money. One might ask why there is a risk ...
Hisrich, R.D. and Peters, M.P., (2004) Entrepreneurship, Fifth Edition – International Edition, McGraw-Hill Higher Education
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-
There has been a large amount of attention paid to the subject of entrepreneurship in the last few years; mainly because most people have chosen to go from working for somebody else, to be their own bosses and work for their dreams. Nevertheless, many still wonder what is entrepreneurship and what is that sets entrepreneurs apart from other regular business owners. At first, it seems both concepts do not differ much from each other since they both start up and run businesses and assume risks to pursue opportunities; however, there are certain traits that difference them.
Joseph Schumpeter, an American economist, renowned for his term ‘creative destruction,’ defined ‘entrepreneurs as individuals who exploit market opportunity through technical and/ or organisational innovation.’ Entrepreneur is derived from the French verb ‘entreprendre,’ meaning to undertake and consequently entrepreneurship is the ability and will to develop and manage a business scheme; accompanied by any of its risks with the intention of making turnover. Conversely, innovation is the process of transforming a creation into a product or service that generates value; ‘the commercially successful exploitation of ideas.’ It is integral to any developing economy, particularly in those where prevailing business models have become outmoded. Entrepreneurship
Driven by an intense commitment and determined perseverance, entrepreneurs work very hard at what they do. They excel and want to win. Entrepreneurs are amazing people with a high respect of character. They use their mistakes as something to learn from rather than a failure. No matter the outcome, they believe in themselves and have an extreme confidence not only in themselves, but also in what they do.
There in an increasing demand for entrepreneurs, our school entrepreneurship program help teach learners as they grow to be entrepreneurs. entrepreneurship is ...
Yet because of the very nature of entrepreneurship, top down policies may well facilitate enterprise; but are less able to promote the individual skills, knowledge and attitudes that characterise successful enterprise (Dodd and Anderson, 2001). (176), Increasing the number of small businesses is important, more is better because having more businesses increases the number of all innovations. Yet innovation involves more than merely managing, it encompasses attitudes, values as well as practices (Pyysia¨inen et al., 2006). To be an innovator in a competitive environment requires not only a growth strategy (Anderson and Atkins, 2001) but skilled practitioners. I consider how universities can capitalise on there own unique capabilities of knowledge creation and knowledge dissemination to better enable these nascent entrepreneurs. Entrepreneurship’s current popularity as an economic solution is matched by the variety in how it is conceived. (177), At a national economic level, the sum of successful innovation represents a competitive advantage of that country. (178), So promoting more new business seems a good thing to do; more new firms are more likely to develop products or services that “fit” the rapidly changing environment. But as well as the shifting environment (Anderson et al., 2011b), the entrepreneurial evolutionary model also needs to take account the skills and abilities of the entrepreneurs to adapt (Irvine and Anderson, 2004). Harbi and Anderson (2010) show how different environment produce different types of entrepreneurial outcomes, but a key point is that entrepreneurs can challenge and even change institutions and environments (Anderson and Warren, 2011). Necessity
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).
Entrepreneurship can be defined as the process of buiding ,creating,sustaining and initiating a venture from pratically nothing, in the sense of uncertainty and risk ,and having the ability to succeed against all difficulties. Entrpreneurship is essentially important to the economic and social development of south Africa .Entrepreneurs use innovation to create new, competitive markets and job creation by establishing businesses, which as a result have a positive effect on the economy (First National Bank, n.d.).South Africa stands against a evolving and culturally diverse enterpreneurial growth but it still lags behind many other comparabe countries.Unemployment and poverty has massively increased and shows no sign of slowing down.These increasing levels can be affectively sustained through the advancement of entrepreneusrship.However,to achive enterpreneurial growth,committed change in public perception and culture need to be obtained,whereby,self employment is a way of ending long trem unemployment.
Entrepreneurship is an important aspect of social, economic and community life. It can be viewed as a critical factor to economic growth as well as a way of addressing unemployment (Nolan, 2003).Entrepreneurs are people who are persistently focused on identifying opportunities, they seek to create something worthwhile while taking into account foreseeable risk and rewards associated with the efforts (Nolan, 2003). Furthermore, entrepreneurs are frequently understood to be individuals who discover market needs and establish new business to meet those identified opportunities. The following assignment will firstly discuss the types of entrepreneurship, secondly it will discuss the reasons people become entrepreneurs, and thirdly it will discuss the importance of entrepreneurship.
The entrepreneur is defined differently across many platforms they all share some commonality (Davison, 2008). This commonality consists of certain traits such as risk taking, innovative thinking, and an opportunity-seeking mindset to create, improve or expand a business (Davison, 2008). The entrepreneur functions as a promoter to the generation of wealth (Davison, 2008). The entrepreneur is important for the movement of the market and constant challenge to the status quo, indirectly improving all related business involved.
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.
As an aspiring entrepreneur, I realize that businesses face many issues and challenges. Where there are issues and challenges, there are risks. With this being a small business management class I’d like to put a twist on this essay and view the challenges and risks from an entrepreneurial perspective. As a 26 year old woman, I struggle with the fear of not being successful in the long run. I am slowly replacing the fear that I have with courage, perseverance, and ambition. I decided to go back to school for my Master’s degree to increase my chances of being successful. Along my journey thus far, I’ve learned that in the end, the Master’s degree will not define me, I will define the Master’s degree. I do not believe that there is an existing position that fits the mold for what I want to become. Henceforth, I’ve recently been