IMR JAN 2013 - Indira Institutes

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Unlocking Entrepreneurial CapabilitiesTraits/Characteristics Of EntrepreneursSelf Confidence ConfidenceIndependent, individualistic.OptimisticLeadership, DynamicOriginality Innovative, creative Resourceful Initiative Versatile, knowledgeablePeople Oriented Get along with others Flexible Responsive to suggestions/criticismsTask-Result Oriented Need for achievement Profit oriented Persistent,perseverance, determined Hard worker, drive, energyFuture Oriented Foresight PerceptiveRisk Taker Risk taking ability Likes challengesPRIMARY FOCUS OF ENTREPRENEURSHIP-TRAINING CURRICULA SHOULD BE TO-Teach basic entrepreneurial skills-Entrepreneurship education should focus on the training of entrepreneurial skills likecreativity, problem solving abilities, communication, conflict management and negotiation;development of soft skills, entrepreneurial motivation and opportunity recognition.Ensure that learners understand the real world of work and entrepreneurshipInteraction with entrepreneurs, business owners can be organized to foster students'entrepreneurial spirit. Working on real case studies from entrepreneurs and universityprojects/patents and working as interns with the start-ups and existing entrepreneurs shouldbe encouraged.88 Indira Management Review - Jan 2013
Unlocking Entrepreneurial CapabilitiesProvide opportunities to learn about theimportance of entrepreneurship to theeconomic system through classroom andpractical experienceo A business plan competition e.g. searchingfor an idea; creativity and innovation.Compiling a business plan and starting abusiness can be done.o Start-up support and support for nascentcompanies can be organized in co-operationwith the Chamber of Commerce andIndustry. Coaching and establishing contactswith other business support providers, firmsand financiers can be provided.o Prototyping entrepreneurship educationby encouraging multidisciplinary studentteams (design, media, business, computerscience etc.)o The institutions could also provideextensive industry linkages on differentaspects of business, law and finance.Elaborate models of profit-sharing andadvisory assistance can also be provided.Launch an in-campus businessEnterprise centers' in major educational andresearch institutions should provideinstitutional support for Entrepreneurship,on a larger scale and on a more systematicbasis. Special enterprise centers' focusing ontranslating innovation-driven ideas intoviable businesses would greatly enhanceEntrepreneurship. Currently, incubationcenters provide assistance to selected startups.Providing consultation and coachingservices for future entrepreneurs andfacilitation of contacts to external businessshould also be encouraged.e.g. achievement motivation; creativity;decision making; initiative; innovation; locusof control and risk taking.Entrepreneurial skills e.g. strategyformulation; leadership; planning and timemanagement and financial concepts;communication and negotiation skills; andself-knowledge.andEconomic education e.g. unemployment;economic growth; tax; personal financialmanagement; productivity and industryknowledge of the prospective entrepreneurshould be explored and accordinglyenhanced. Awareness creation activities topromote self-employment as a viable careerchoice should also be conducted.HYTTI MODEL OF ENTREPRENEURSHIPEDUCATION (HYTTI, 2002)In Hytti model (as shown in Figure ) thedifferent roles assigned to entrepreneurshipeducation are summarized.Explore learners' entrepreneurialqualities and teach educationeconomicallyEntrepreneurial qualitiesIndira Management Review - Jan 2013 89
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IMR JAN 2013 - Indira Institutes

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