Entrepreneurial Education : The Education System ( Gibb & Price, 2014 ) Essay

Entrepreneurship is a term that has reentered the public vernacular over the last few years, many times in reference to what is wrong with America but what it means is rarely defined. Furthermore, it is generally agreed that more Entrepreneurship is a desirable trait but how to go about encouraging it is again a point of contention. This paper will address a specific facet of entrepreneurship and attempt to discover what are the key drivers to foster an entrepreneurial spirit from childhood.

Have you ever wondered who thought about the idea of creating a multinational retail corporation here in America called Wal-Mart? Sam Walton - founder of Wal-Mart was behind that idea. Sam Walton is an example of great entrepreneur who wanted to make his business successful. An entrepreneur needs a variety of skills but does not need to have a formal education. Being an entrepreneur is challenging even if an individual is well educated on the field or has no education at all. There is always the risk conducting business because of the competition with other companies. However, what does an entrepreneur do? Do you have what it takes to be on top the business world and compete ? An entrepreneur must have is a guide to start and run a business even if it is a big or small business.

Learning is the process of gaining knowledge about various issues that affects our lives and wellbeing. The learning takes place each and every day of our lives at any place and time. There are two ways in which learning takes place. There is the formal learning and informal learning. In most cases, the formal learning is got from various learning institutions which indeed have set rules and regulations on how the running takes place. Various tests are set to help in gauging whether the student is ready for the next learning sequence or not. Institutions therefore has a bigger influence on formal learning and development of these students. On the account of the informal learning, this takes place within our social context. This form of learning is based on the societal norms and beliefs of various communities across the world. The teaching of the culture and norms that any society holds dear are indeed made possible through informal learning. Here, there is no need for a classroom which would mean that they can be done any place either a house, under a tree or as people interact in the societal setting. This paper looks into the impacts that the societal and institution constraints have on learning processes of various individuals. It gives much attention to the factual connotations of how these two sets of learning have impacted on the growth and development of various students across the world. Notably, this research uses the connotations from two articles that dwells on

Scott Adams shares with us the ideal framework for an entrepreneurial curriculum. In his article How to Get a Real Education, he reinforces the fact that the whole is far greater than the sum of these parts, especially in the context of an entrepreneur. Adams tells us of a couple stories from when he was in college and how he used the skills of an entrepreneur to become successful. He saw opportunities, sometimes embedded within problems, and worked them to his favor. This is what he referred to when speaking of the learned skill of transforming “nothing into something”, which is a skill that obviously applies to business. His basic idea is that much academic-oriented education is wasted on many

The following questions were presented to prove/disapprove whether or not the Rust College business department is adequately preparing its students to be entrepreneurs. The results were determined by conducting a widespread research. In order to address the following questions, statistical data was gathered from a survey conducted on its current students.

secretary of education states that “high-quality education" that encourages "creativity, imagination, and ingenuity’”. It is true that thirty percentage of startup business failure reasons of “unbalanced Experience or Lack of Managerial Experience”, followed by “lack of Experiences in line of goods or services” is about eleven percentage. Interestingly, company competence occupied the highest rate of failure of 46% (Statistic Verification, Entrepreneur Weekly, Small Business Development Center, Bradley University, university of Tennessee Research). In addition, successful entrepreneur usually possess “highly motivated and willingness to take initiative to execute duties” and have appropriately responsible to their activities, decision, and company’s outcomes.

Instead, an endless number of issues, whether they be personal issues such as pride and hyper-ambition, financial issues like the rising cost of rents, or administrative issues such as disorganization and miscommunication, can be identified as the root of this widespread problem. In order to better the situation and help our economy, an effective approach must be developed and implemented in every start-up nation-wide. I believe that an effective approach towards solving this problem would include education and training; as research findings suggest a strong and direct correlation between education and entrepreneurial success. Even simple courses in areas such as business management and business administration, or accounting might serve to strengthen the weaknesses in businesses, thereby potentially increasing revenue. Education would clarify the work needed to operate a successful company, and in doing so would help aspiring entrepreneurs and would be failures set realistic goals for themselves and their firms. A firm understanding of what is attainable would lower the expectations of the “dissatisfied lord”, and the “megalomaniac”. Executive training and team-building are not a novel concept, most people understand their effectiveness in achieving cooperation and camaraderie, but in order to maximize efficiency and productivity, greater efforts must be made to

Learning is as important as breathing, and drinking. It helps us to interact with people, and is essential to being social. We as people are social beings, being able to communicate, understand each other all come from learning. Formal education has high value because there’s structure, experts teaching you, however it is not essential to success since formal education can provide a different aura which both forms empowers the self. Alexander Nazaryan gives us an insight on the experience of formal education.

This school sees strategy formation as a visionary process and is fell under the descriptive school of strategic management. The chief architect of the strategy is the CEO of a company. This school took formal leadership seriously and CEO is responsible for strategy formulation. It stressed on mental state and processes such as instinctive knowledge, belief, wisdom, experience and insight of a single leader. The leader should be visionary in formulating strategy. The entrepreneurial school promotes strategy as a process which has a clear image and sense of direction which can be termed as a vision. Entrepreneurial strategy often occurs in startup companies and organizations in trouble and needing a

In today’s globalized, competitive society entrepreneurial culture is becoming more and more popular. (Ollila and Williams). Today, there are about 17 action based venture creation programs with venture launch experience where students are supposed to go through problem based learning and learning by doing experience. (Karen , press) Many venture creation programs apply a narrow definition of entrepreneurship focusing on how to become an entrepreneur. Consequently, their education curriculum on entrepreneurship is based on opportunity identification, business development, self-employment, venture creation and growth. However, fewer venture creation programs apply a broader definition with focus on becoming entrepreneurial. So such venture creation curriculum besides every thing else provide education on personal development, creativity, self reliance, action orientation and initiative taking. (Karen, press)

Formal education is instruction given in school. It is often called schooling. In most countries, people enter a system of formal education during their early childhood. In this type of education, the people in charge of a school decide what to teach, and learners then study those things under the direction of teachers. Learners are expected to come to school regularly and on time., to work at about the same speed as their classmates, and to pass tests

Bill Gates has rightly said, “Its fine to celebrate success but it is more important to heed the lessons of failure.” I have been trying to understand the true meaning of entrepreneurship in due course of my Under Graduate Course in Business Administration. While studying the subject “Entrepreneurship Development”, I recognized my deep interest in entrepreneurship and innovation. I believe that every person has the ability to innovate; all they need is a motivating factor, direction and support which a Masters Programme at an esteemed university of your stature will provide me and help me to be a successful entrepreneur.

Veesam Chandra Reddy (2016), Who Can Be an Effective Mentor For Entrepreneurship Development Programs? Many initiatives like ‘Start-up India-Stand up India’, ‘Make in India’, ‘National Policy for Skill Development and Entrepreneurship’, ‘Digital India’ are being undertaken by the Government of India to foster the entrepreneurial spirit in the nation. Many educational and other institutes are designing and providing entrepreneurship development programs to cultivate entrepreneurship culture in students and individuals. But many of these programs do not understand the basic differences between entrepreneurship education and a typical business education. As an effect of this, many of the programs are failing to showcase the

The researcher believes that education play important role for promoting young entrepreneurship in the country. Therefore, the researcher recommends Indonesia to create awareness among society to promote entrepreneurship by providing early access on entrepreneurship education. This recommendation could be achieved by advise formal institutions to provide early entrepreneurship courses at school; and encourage business accelerators and incubator to involve on giving training,

The emergence and development of entrepreneurship is not a spontaneous one but a dependent phenomenon of economic, social, political, psychological factors often nomenclature as supporting conditions for entrepreneurship development. These conditions may have both positive and negative influences on the emergence of entrepreneurship. Positive influences constitute facilitative and conductive conditions for the emergence of entrepreneurship, whereas negative influences create inhibiting milieu to the emergence of entrepreneurship.