IMR JAN 2013 - Indira Institutes

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