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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