Impact of Entrepreneurship Education on Society

The assignment discusses the importance of entrepreneurship education in today's society. It highlights how entrepreneurship courses can improve students' entrepreneurial intentions and provide them with essential skills for starting a successful business. The document also reviews relevant literature on the topic, including articles and books that examine the effectiveness of entrepreneurship education. A summary of key points is provided at the end.

Entrepreneurship
can/cannot be taught

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
In this contemporary circumstances, entrepreneurship is a term which is often heard by an
individual numerous times in a day. It refers to constructing a business relying on creativity and
innovation (Haase and Lautenschläger, 2011). The economy of United Kingdom carries a
popular trend when it comes to entrepreneurial ventures. The country is experiencing an
unprecedented incline and now ranked to be the first when it comes to entrepreneurial ventures.
The prime reason of promoting entrepreneurship is that they promote growth and development of
economy. . This assignment aims to thoroughly analyse the concept of entrepreneurs and tries to
ascertain whether it can be taught to an individual or not.
MAIN BODY
Entrepreneurship is mentioned as an act of introducing a new business to the market. The
efforts in context of entrepreneurship are carried out to gain a financial stability and to achieve
profits from the same. The concept of entrepreneurship is not necessarily aimed to resolve the
problems of society but it aims to carry out operations in a distinct manner which have not been
experienced by the market. This constitutes as the most important component of economy as it
enhances living standard of people along with raising employment in nation. It is an action in
which people pursue their dreams and passion as well as lead their life in the way they want to.
The person who is leading the charge is known to be an entrepreneur. They wish to improve the
lifestyle of people and intends to make world a better place.
A person who undertakes such venture is mentioned as an entrepreneur. He is an
individual who sets up a business and runs it in the market to achieve favourable financial
outcomes. An entrepreneur works hard to ensure the venture is able to turn it into a business his
hard and soul into developing a business which is sustainable and provides full time employment
to people. The scope of entrepreneur is not confined to providing employment as they carry a
potential to transform the world into a better place. The examples of such individuals are Elon
Musk, Steve Jobs and Bill gates. They have the vision to identify opportunities which lies in the
market and capitalise on the same which a normal person fails to identify.
It has been a debatable issue whether entrepreneurship can or cannot be taught to an
individual. An entrepreneurship is a concept which encompasses through various sub-segments
such as intellect, vision, passion, drive, risk taker and communication skills. Out of the above
mentioned capabilities, an entrepreneur is born with most of these skills whereas skill-set such as
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interpersonal capacity and high intellect can be taught to an individual (.Entrepreneurship can be
learnt and should be taught, 2017).
However, the trend of entrepreneurship in the country have led to rise in the
entrepreneurial education which is being imparted to students in colleges and universities. There
are numerous entrepreneurs who have dropped off college and have been able to achieve success
in the market. Whereas, on the other hand, some say that they have been benefited by the
educational programme to a significant amount. There have been evidence which states that
entrepreneurship can be taught to students.
But there have been a theoretical side of entrepreneurship which is utilised to teach
students and facilitate a better understanding on the fundamentals of the same. This concept
however can be related more to the practical aspect where a student can learn by practical
application of theoretical concepts. Referring to the business venture, theory is mentioned and
exclusive way of informing to the student and anticipating future of a business. It is stated that
success of entrepreneurship relies heavily on the luck and intuition of an individual.
According to James O fiet, favours with the fact that entrepreneurship can be taught to an
individual. This is done with the help of theories which provides highest degree of practicality
which is being offered to students. The emphasis is on preparing an ideal and suitable syllabi and
imparting it to students so that there are minimum chances of accidents and failures
(Entrepreneurship Can Be Learned, 2016).
The common instance which shows that entrepreneurship can be flourished with the help
of teaching is that Kevin Systrom and Mike Krieger are founders of Instagram (Social
networking platform) met each other during entrepreneurship classes. Though there are some
leaders who are driven and does not possess any entrepreneurial coaching and classes and are
doing extraordinary in the market. Father of management Peter Drucker stated that,
entrepreneurship have nothing to do with genes of a person and it's a discipline which can be
taught to students. There are some skills which can be nurtured of an individual with quality
education are problem-solving, interpersonal trait, capacity of a person to build a product or
service and lastly ability to motivate supporters to launch a product. It has been observed
overtime that recognising an opportunities and en-cashing the same requires quality structured
learning (Does Entrepreneurship Education Make People Better Entrepreneurs?, 2017).
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The development of entrepreneurial education can be traced back to the year 1971. It has
been there but educational systems have started emphasizing in the last decade with the rise of
entrepreneurial trend in the country. According to Garavan and O'Cinneide (1994), A
entrepreneurial training is provided with a broader view which differentiated training and
education for smaller businesses. The emphasis was on the providing a chance to the individual
to understand condition of the market and circumstances which favours launching of a new
product to the market. They also provided with theories that facilitate character building of an
entrepreneur. The education and training system was categorised on the secondary level,
specialist education and training to smaller enterprises. The development of theories aimed to
uplift knowledge and capacities of an upcoming entrepreneur.
There are various aspects which can be taught to an individual are as follows:
Market Analysis: The first and most important aspect which is taught by entrepreneurial
training is that it assists in better analysis of the market and help in opportunity assessment. This
is done to identify whether the idea will be of relevance to the market. This helps an individual to
launch a product or a service which carry potential of turning into a successful business.
Skills and capability enhancement: Entrepreneurial education helps in nurturing skills
and capabilities of an individual which are essential in an entrepreneur. The quality education in
the entrepreneurial segment ensures that skills and capabilities of carrying out a task is enhanced
by a teaching.
Transformation of attitude: There have been a shift in the attitude and perception of
people about entrepreneurship through quality of education. The nation when hit by recession
relied on such ventures to ensure sustenance of the economy.
Promotion of start-up: The most important task which is to be carried out by
entrepreneurial programme is that it promotes economic opportunity in the market. This leads to
uplifting of economy in an innovative manner leading to social justice. Entrepreneurial instinct in
an individual is developed so to help a person become a successful business owner.
It is seen that people have changed their perception in risk taking and creativity. The
formal education provided since secondary schools helps in manifesting creativity and
innovation among individuals. The education system which encompasses entrepreneurial
theories and practical approaches to overcome challenges of society (Henry and Treanor, 2012).
It has been identified that risk has been an integral part of innovation and complex societies. It
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refers to step into a uncertain future which possessing insecurity. Risk taking is crucial for a
society as it helps in resolution of challenges and obstacles in an unprecedented manner. It has its
own importance for employers, economy and society. The entrepreneurial system of the country
have realised its importance and emphasized on taking risks which results in ideal decision
formulation along with enhancing participation in areas which affect them.
Entrepreneurial education have been accepted on a national scale. This education is
preferred by various segments looking to make their mark in the entrepreneurial domain of the
country and achieve substantial results. In context of the country, it has been widely recognised
irrespective of the segment. The education system provides a set of recommendation which are
emphasized in this context. The government has given its consent to run entrepreneurship
programme in the country.
The most prioritized segment for entrepreneurship education are students. They are
provided with enterprise training at the secondary level of education in schools. A well
structured and qualitative support system can help in stimulation of entrepreneurial education
and mindset among students (Can Entrepreneurship Be Taught, Or Are You Born That Way?,
2014). This universities and colleges around the world have offered entrepreneurship coarse to
students. British Universities have listed education of entrepreneurship as one of their top four
goals in context of strategic education provided to students. The European region have come this
far and are successful in promoting innovative ventures in the economy. There have been six
crucial elements which are to be identified in an individual such as achievement, locus of
control, risk taking, innovativeness, self confidence and ambiguity. They play a crucial role in
determining entrepreneurial behaviour in an individual. It is essential to deal with this particular
segment in an ideal manner as they determine future economic performance of the country (Neck
and Greene, 2011). The offering of entrepreneurial education helps students in better assessment
of opportunities relies in the market to pursue their passion.
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(Source: Entrepreneurship education and training, 2017)
The another segmentation which is to be emphasized is people with entrepreneurial spirit.
Education is defined to another most common way through which this spirit can be uplifted. This
type of education can be fostered into individual through vocational programme, target groups
and specialised courses. Universities such as MIT and Cambridge provide coaching to people
who wishes to venture into market with their new products and service. It is essential to
channelise their efforts in the right manner so that there are minimum chances of errors.
Entrepreneurial education is termed as one of the most preferred and tested way to influence
people's attitude,skills and culture.
The enterprise education is not confined to students an existing entrepreneur can access
from the educational activity and make sure that better outcomes are derived from existing
venture. A existing entrepreneur can face certain problems mainly because of lack of knowledge
or a skill which needs nurturing (Chen and et al., 2015). The difficulty in operating a venture can
be overcome by sharpening of skills of an entrepreneur. For instance: An entrepreneur is not able
to effectively communicate with its supporters which ascertains needs for sharpening of
interpersonal skills of a person. The education system will help in enhancing interpersonal skills
so that he is able to effectively communicate with its colleagues and derive best results out of his
venture. In addition to the schools and colleges there are various organisation working
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Illustration 1: Entrepreneurship education and training

independently aims to influence and stimulate entrepreneurship in an individual. The
entrepreneurship training programme help budding entrepreneurs in financial projections and
business planning. To develop an economy to ideal level it is essential to embed
entrepreneurship into various sections of the society. The opting for diversified educational tools
will help various segments strengthen their skills and capabilities so that their passion is pursued
and ideal results are attained from the venture (Henry, Hill and Leitch, 2005).
CONCLUSION
It can be concluded from the above report that, Entrepreneurship is a discipline which can
be taught and learned by individuals. These refers to the endeavours undertaken by individuals
known as entrepreneurs. The government have ensured that entrepreneurship in the country is
promoted and selected by the major segment of population. It can be facilitated among individual
through various measure such as teaching in schools, colleges, universities, support and training
programme. Entrepreneurial education is the only means through which people's skills, attitude
and preferences can be influenced and stimulated toward entrepreneurship. According to a data
released it was depicted that 80 companies are born every hour in the United Kingdom. Around
3,42,927 businesses have been added in the entrepreneurial category in the year 2016 which
determines the amount of change have been brought by entrepreneurship education for the
people in the country. They are now more motivate and are willing to take risks to start
something of their own.
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REFERENCES
Books and Journal
Haase, H. and Lautenschläger, A., 2011. The ‘teachability dilemma’of entrepreneurship.
International Entrepreneurship and Management Journal. 7(2), pp.145-162.
Henry, C. and Treanor, L., 2012. Exploring entrepreneurship education within veterinary
medicine: can it be taught?. Journal of Small Business and Enterprise Development.
19(3), pp.484-499.
Neck, H. M. and Greene, P. G., 2011. Entrepreneurship education: known worlds and new
frontiers. Journal of Small Business Management. 49(1), pp.55-70.
Chen, S.C. and et al., 2015. Can the entrepreneurship course improve the entrepreneurial
intentions of students?. International Entrepreneurship and Management Journal.11(3),
pp.557-569.
Fiet, J. O. (2001) The theoretical side of teaching entrepreneurship. Journal of Business
Venturing 16(1): 1-24.
Garavan, T. and O'Cinneide, B. (1994) Entrepreneurship Education and Training Programmes: A
Review and Evaluation - Part 1. Journal of European Industrial Training 18(8): 3-12.
Gürol, Y. and Atsan, N. (2006). Entrepreneurial characteristics amongst university students:
Some insights for entrepreneurship education and training in Turkey. Education +
Training 48(1): 25-38.
Henry, C., Hill, F. and Leitch, C. (2005). Entrepreneurship education and training: can
entrepreneurship be taught? Part I. Education + Training 47(2): 98-111.
Kuratko, D. (2005) The Emergence of Entrepreneurship Education: Development, Trends,and
Challenges. Entrepreneurship, Theory & Practice, 29(5): 577- 598.
Online
Can Entrepreneurship Be Taught, Or Are You Born That Way?. 2014. [Online]. Available
through: <https://www.forbes.com/sites/georgedeeb/2014/06/19/can-entrepreneurship-
be-taught-or-are-you-born-that-way/#70b8181b34ab>.
Does Entrepreneurship Education Make People Better Entrepreneurs?. 2017 [Online].
Available through: <https://smallbiztrends.com/2010/09/does-entrepreneurship-
education-make-people-better-entrepreneurs-2.html>.
Entrepreneurship Can Be Learned. 2016. [Online]. Available through:
<https://ecorner.stanford.edu/article/entrepreneurship-can-be-learned/>.
Entrepreneurship can be learnt and should be taught. 2017. [Online]. Available through:
<https://yourstory.com/2016/04/teaching-entrepreneurship-ronnie-screwvala/>.
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