Summary
A sound education base along with an introduction to entrepreneurial skills at the college or university level can bring the best out of students in their professional lives later
HEIs must be able to produce ‘job producers’ rather than ‘job seekers, and this approach will also help in solving the unemployment problem to a great extent.
Entrepreneurial skills are needed now more than ever before, irrespective of education or professional fields. As new problems arise, and the world becomes globalized, new opportunities are also up for grabs. According to The Global Entrepreneurship Monitor (GEM) 2021/2022 report, India is among the top five easiest places to start a new business. The entrepreneurship activity that was hit by the Covid-19 pandemic is back on track with steady year-on-year growth. This is a positive sign for future entrepreneurs who want to be game changers in their respective fields, and therefore makes the teaching of entrepreneurial skills a must at Higher Education Institutions (HEIs).
A sound education base along with an introduction to entrepreneurial skills at the college or university level can bring the best out of students in their professional lives later. India has a healthy business ecosystem and now the Government is also supporting budding entrepreneurs in terms of incubation centers and Smart India Hackathons.
In this article, we will find out why basic entrepreneurship skills should be taught at HEIs and how it can help students in their respective fields in developing important life skills that will serve them beyond the walls of the school.
Before that, let us explore what is entrepreneurship education.
Nowadays, students are required to develop the abilities of an entrepreneur to solve complex problems creatively, while gracefully traversing uncertainties of business or market. In that direction, entrepreneurship education teaches students important life skills, such as
- Using curiosity and creativity to find an innovative approach to difficult problems.
- Learn the art of collaborating and working with a team
- Become adept at communication skills, such as speaking in public and preparing an effective presentation
- Know how to collect, analyze and use data
- Through such education, students learn why it is important to develop a quality product or service and what it takes to do it. These skills help them develop their own unique business proposals and give multiple pitch presentations
Another misconception is that entrepreneurship education just benefits those entering the fields of science, technology, and business. It is also relevant to those interested in the arts, social sciences, and similar fields so that they can also develop their imagination and learn how to apply creative thinking skills to address real-world problems.
Benefits of teaching basic entrepreneurial skills to students
Preparing for an uncertain future
One key lesson that the Covid-19 pandemic taught all of us was that our lives can change dramatically or drastically at any time. Teaching entrepreneurship skills to students can help them handle real-life situations and be ready for a Plan B. Such students can easily welcome and adopt changes happening in technology, business, and society in general. These skills include learning to accept failure as a part of the growth process, problem-solving, empathy, and teamwork.
Learning how to identify and recognize problems in the ‘real world’
In the ‘real world’ that is beyond textbooks and theories, students should learn how to address real-life problems. However, it is crucial to identify problems before learning how to solve them. A particular skill set that is used to solve problems cannot necessarily be used to identify them. In the real world, problems can only be solved when they have been properly identified and described. Entrepreneurship education helps students learn how to identify problems they have never dealt with before.
Encouraging students to make the world a better place
All successful business has one thing in common: They have successfully been able to identify a big problem and made life easier or more enjoyable for their customers. These problems can be from several fields such as education, environment, health, business, communication, transportation, etc. For instance, teachers at engineering schools or business schools can encourage students to be motivated by a desire to help people with a product or service.
Helping students develop their creativity and collaboration skills
Creativity, innovation, and collaboration are some must-have essentials that students can learn from an education program teaching entrepreneurship skills. These skills are highly valued by most businesses in the world and are therefore a must-have for students. If an aspiring entrepreneur wants to create products and services that seem new and different, then he/she must choose a college, institution, or program that also focuses on teaching entrepreneurship skills.
In addition to the above-discussed benefits, entrepreneurship skills help students become resilient, and the ‘grit’ factor is often a predictor of an entrepreneur’s success in the future. Along with the Government’s support to encourage young entrepreneurs, the National Education Policy (NEP-2020) also offers a lot of flexibility in terms of multi-entry multi-exit, tailor-made programs, dual degrees, and multidisciplinary courses. This puts a huge responsibility on the shoulders of education institutes to properly utilize these flexibilities to transform innovation into enterprise. In a nutshell, our HEIs must be able to produce ‘job producers’ rather than ‘job seekers, and this approach will also help in solving the unemployment problem to a great extent.
Last updated on 23 Dec 2022
