Building Entrepreneurship Skills in Students
With many countries facing economic challenges across the globe, it has become important that greater entrepreneurial activity be incorporated by the governments. There is a direct relation between entrepreneurial activity and economic development. Governments across the globe are highly recognizing the positive impact of new businesses on the employment levels and other social and economic growth. Entrepreneurs and businesses form an essential part of the society. Entrepreneurs play an important role in bringing up the society in terms of financial and human resources. India being a developing country requires more and more successful young entrepreneurs to meet the growing needs of the country.
Young students have the inevitable power of doing things with great courage and they look out to ditch the corporate rat race. The students of the present generation look out to become their own bosses and aspire to invent new things.It is the responsibility of the education system and the parents to motivate young aspirants to become entrepreneurs. Entrepreneurship must be made a part of education just as science, mathematics, technology and language form a part of education .Entrepreneurship is a way of thinking and it is an approach that identifies new opportunities and solves problems. It is not constrained by the present and finds applicability in the future. It is vital for students to develop entrepreneurial thinking skills right from their schools.
There are 3 important reasons to inculcate entrepreneurship thinking skills in students.
- Entrepreneurship skills form the basics like reading and writing, when it comes to succeeding in the complex world.
- Entrepreneurship thinking skills enhances the value of knowledge obtained from the Science, Technology, Engineering, Arts and Math (STEAM) disciplines. It brings out solutions to complex problems by integrating the knowledge gained in the STEAM disciplines. It transforms knowledge into value.
- Entrepreneurship thinking skills is acquirable, and doing this at the earlier stage will help in mastering it. The more frequently we expose the students to these skills, the more entrepreneurial they become.
Efforts to build entrepreneurial skills in students
Entrepreneurial skills are to be inculcated from various dimensions and one way is to build it as pa rt of the education system. Entrepreneurship skills should be developed as life skills rather than an economic activity.Motivating the child to grow with an enterprising spirit, accepting new challenges and finding new opportunities, developing management capability through live projects, motivating and teaching students to overcome the external and internal barriers of entrepreneurship and maximizing the opportunity for experiential learning.
Knowing that entrepreneurship skills are to be inculcated in students, for the betterment of the individual and the society, the next question that rises is, "What are the entrepreneurship skills that needs to be built in students?"
There are four categories of entrepreneurship skills sets:
- Entrepreneurship skills: Entrepreneurship skills help us to recognize the economic opportunities and act upon them. This includes inner discipline, ability to take risk, being innovative, change-oriented and persistence.
- Technical skills: Technical skills help in producing a successful business product or service. The technical skills that are to be backed up for a successful entrepreneur includes operations specific to industry, communications, design, research and development, environmental observation.
- Management skills: Management skills are the ones that help in administering the company and helps in day-to-day management of the company. The management skills that are required are planning, decision making, motivation, marketing, finance and selling.
- Personal maturity skills: These include self-awareness, accountability, creativity and emotional skills.
To conclude, it does not mean that every individual is to turn into an entrepreneur, but it is essential that each and every individual develops the entrepreneurial skills within, in order to succeed in the various endeavors of life. Thus it is vital to build entrepreneurship thinking skills in students from their school age.