ENTREPRENEURSHIP EDUCATION

DR.SHAMSHIR SINGH
“Building a culture of entrepreneurship requires a fundamental
rethinking of educational systems, both formal and informal, as
well as the way in which lecturers or educators are trained, how
examination systems function and the way in which rewards,
recognition and incentives are given”

Source: World Economic Forum, Educating the Next Wave of Entrepreneurs, Executive Summary, A Report of the Global
Education Initiative, pg 9
Educational Realities – A Classroom World

• Traditional classroom delivery is • Low spirit of enterprise and

predominately theoretical knowledge. entrepreneurship among students and
educators.
• Current curriculums often doesn’t
• Talk and chalk teaching style.
include much entrepreneurial training.

• Little or no exposure to • Performance is based on

entrepreneurship experiential learning.
assessments and marks driven and
not innovation.
 How can we address the Entrepreneurship
Challenge

• Introduction of Entrepreneurship Education starting in Schools and carried through into our Tertiary Educations.

• Establish strong Industry partnerships to foster these and importantly to support these financially.

• Train educators, educators are not always good entrepreneurs and often do not understand the process or principles.

• Educators must be relevant – in terms of understanding the current technologies used in Industry as well as how to transfer this knowledge in this
new context.

• Use of Research Centres as Entrepreneur development incubators.

How do we attain a dynamic culture of entrepreneurship?
• Introduce entrepreneurship education across all learning areas.

• Adopt 21st century methods and tools to develop appropriate learning environment for encouraging
creativity, innovation and ability to ‘think out of the box’ to solve problems.

• Curriculum-aligned materials with innovative teaching and learning techniques/tools.

• Develop entrepreneurial skills and mind-sets in educators as well as learners/students.

 Educational Impact

Traditional “Classroom” Delivery Entrepreneurship Culture in the “Classroom”

VS
Learner develops
life skill to navigate
and change current
market realities
 Importance of Entrepreneurship Education
• Entrepreneurship is a key driver of our economy.

• Wealth and a high majority of jobs are created by small

businesses started by entrepreneurially minded individuals,
many of whom go on to create big businesses.

• People exposed to entrepreneurship frequently express that

they have more opportunity to exercise creative freedoms,
higher self esteem, and an overall greater sense of control over
their own lives.

• As a result, many experienced business people political leaders,

economists, and educators believe that fostering a robust
entrepreneurial culture will maximize individual and collective
economic and social success on a local, national, and global
scale.

• It is with this in mind Entrepreneurship Education were

developed by I.N.D.I.A. TRUST to prepare youth and adults to
succeed in an entrepreneurial economy.
 Importance of Entrepreneurship Education
• Entrepreneurship education is a lifelong learning process,
starting as early as elementary school and progressing
through all levels of education, including adult education.

• The Standards and their supporting Performance Indicators

are a framework for teachers to use in building appropriate
objectives, learning activities, and assessments for their target
audience.

• Usingthis framework, students will have:

- progressively more challenging educational activities;
experiences that will enable them to develop the insight
needed to discover and create entrepreneurial opportunities; -
and the expertise to successfully start and manage their own
businesses to take advantage of these opportunities.
Benefits of Entrepreneurship Education
• The Consortium for Entrepreneurship Education
-sponsored Think Tank recently worked on group
consensus about the different outcomes for
entrepreneurship programs at various levels of
education.

• TheThink Tank is a voluntary "future thinking" group

composed of a wide selection of educators who are
practitioners in a variety of settings, educational
levels, and locations throughout the US and beyond.
While the results are not based on formal scientific
research, they are provided here for the purposes of
discussion and orientation to the concepts underlying
the National Content Standards for Entrepreneurship
Education.
Benefits to Elementary Students
• Increased attendance
• Higher academic achievement
o Standardized Tests
o Pre & Post Tests
o Portfolio
• Fewer discipline referrals
• Increased sense of "locus of control"
• Awareness of career and entrepreneurial options
• Acquire basic economic understanding
• Acquire basic financial concepts
• Define entrepreneurs' contribution to society
• Use opportunity recognition/ problem solving skills
• Explore ethics issues
• Consider steps in business startup
 Benefits to Middle School Students

• Continue on to high school • Develop workplace literacy

• Improved academic skills - 4 Rs • Understand entrepreneurship
process/ business plan
• Experience entrepreneurship across
the curriculum • Become an educated, empowered
consumer
• Increased self-esteem and respect
• Learn about opportunity cost
• Increased number of students
identifying entrepreneurship as a • Embrace diversity/ socialization skills
career choice • Demonstrate conflict resolution/
• Heightened awareness of the role negotiation/ sales-marketing/
of entrepreneurs persuasion skills
• Encourage risk-taking & learning • Learn how entrepreneurs give back
from failure • Learn how to make money
• Learn to identify and recognize
opportunities
• Recognize the contributions of
entrepreneurs (they started small)
• Decrease in teen pregnancies and
substance abuse
• Foster and value idea generation
• Improved economic literacy and
understanding of capitalism
• Improved financial literacy
 Benefits to High School Students

• Creation of entrepreneurial • Identify legitimate sources of

thinkers who also have the capital
skills and tools to start their • Evaluateownership
own businesses. structures
• Write a business plan • Translate
problems into
• Apply economic principles opportunities
• Determineindividual • Apply principles of human
entrepreneurial interests relations management
• Apply basic marketing skills • Speak "business" &
• Usestrategies for idea "entrepreneurship"
generation • Apply basic accounting
• Assess feasibility of ideas principles
• Engage in ethical business
• Manage risk
practices
• Demonstrate financial
management
Benefits to Post-Secondary and Adult Students

• Demonstrate skills in business startup

• Demonstrate skills in maintaining business
longevity
• Demonstrate knowledge of business closings
versus failure
• Ability to find next level of training or access
other resources and services
• Demonstrate business management/ operation
skills
• Use components of a business plan
• Determine impact on unemployment
• Changed attitude toward entrepreneurship as a
means of making a living
Benefits to Post-Secondary and Adult Students

• Changes in personal and career attitudes

including
oSelf-worth
oAbilityto control one's own life
oSelf awareness
oSelf management/ personality responsibility
oTransfer of learning
oMotivation
oTeamwork
oInterpersonal communications
oProblem solving
oCreativity