Thursday, 13 August 2015

Worldview on the Issue of Entrepreneurship and Higher Education

Research on successful unsuccessful new and young growing enterprise can aid understanding of growth processes and barriers to growth. Research on how the growth of new enterprise can be better supported. Particularly through education at colleges and universities also would be useful.

Hence, all over the world increasing attention is being paid to the potential of university education to facilitate high growth enterprise. For example, research has demonstrated that high growth entrepreneurs in Europe are better educated than other entrepreneurs and the general population. In Europe, most founders of technology based enterprises have a university degree. Research carried out in Germany has shown that enterprise started by individuals with university degrees tend to grow faster than enterprises founded by non-academics.
The strength of entrepreneurship education however, is to influence people’s attitudes towards entrepreneurship and the prospects and feasibility of becoming a growth entrepreneur. Entrepreneurial activities of university students and secondary school depends to a large extent on perceived barriers to and support for new venture creation. A perceived lack of relevant experience and a lack of self-confidence are two reasons often cited by students and new graduates for not engaging in entrepreneurship after graduating. (European commissions, 2008, also see the recent empirical studies by Linan 2008). The perception of graduates as to whether founding one’s own business is desirable personally and socially also impacts entrepreneurial activity (Krueger, 2000).
Generally, it is necessary to sensitize students to entrepreneurial thinking and taking action in the right direction. One focus can be to sensitive students that creating a new venture can be an alternative to employment. It is important to raise awareness and generate motivation for the discipline of entrepreneurship. Strategically, two target groups may be addressed; first entrepreneurship education in “a wider sense” and entrepreneurship education in “a narrower sense” (Koch, 2003).
The former entails offering courses to students who will be involved in catalyzing entrepreneurship in their future employment. Raising the awareness and understanding of the specific needs of country and being able to step up to it profitably in different sectors (for example, venture capital and market acceptance of product innovation) will be the essential catalyst. Here entrepreneurship education in the narrower sense follows a direct approach developing students’ competences and entrepreneurial intentions towards starting a business as a career option. In particular interested qualifying in different entrepreneurial fields of competence in order to deepen their knowledge in the further course of their studies.
With this in view, it is essential to train student in the skills they will need to develop the entrepreneurial ability of creating business ideas, identifying and recognizing opportunities, setting up a business and managing its growth. Students must be prepared “for a life world of much greater uncertainty and complexity involving frequent occupational job and contract status changes, working in a world of fluid organizational structures, greater probability of self employment and wide-responsibilities in family and social life” (Gibb, Hannon 2006).

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