With countries across the world facing economic challenges, it is important that governments incorporate and encourage entrepreneurial activity to a greater extent. As there is a direct correlation between entrepreneurial activity in the country and its economic development, the industrial world, along with the governments, have started recognizing the impact of new businesses on social and economic growth as well as the employment levels. Moreover, entrepreneurs and businesses play a vital role in fostering financial and human resources in the society. As a result, more and more successful young entrepreneurs are needed for a developing country like India to meet the growing demands of the economy. Nurturing strong entrepreneurship skills in students, right from their higher education, can give them the inevitable power to think and create innovative ideas to emerge as entrepreneurs of tomorrow.
Entrepreneurship is the capability and willingness to develop and manage a new business venture profitably, identifying the risks and opportunities. In today’s economic scenario, it is necessary for students to develop strong entrepreneurial thinking and skills to do things with courage and confidence and ditch the corporate rat race to become a successful entrepreneur. It is the responsibility of the education system to provide a conducive environment for acquisition of entrepreneurship skills and motivate young aspirants to become successful entrepreneurs.
Why are entrepreneur skills important?
When it comes to succeeding the complex business world of today, entrepreneurship skills becomes a crucial component. Students should be inculcated with strong entrepreneurship skills as a part of education to help them think out of the box to establish startups and bring their innovative ideas to life.
Entrepreneurship skills, perhaps, enhance the value of knowledge, by providing the ability to integrate the academic know-hows with real-life business situations. Some of the key entrepreneurship skills include taking the initiative, problem-solving, flexibility, adaptability, self-awareness, and resilience. Many universities have started recognizing the need for these skills and are creating opportunities for students to attend events, courses, workshops, and training that facilitate the development of these entrepreneurship skills.
Acquisition of entrepreneurship skills at the earlier stage of education will help students in mastering it. The more frequently they are exposed to these entrepreneurship skills, the more entrepreneurial they will become in later years of life.
Building Entrepreneurial Skills
Entrepreneurial skills, as a part of life skills, can be inculcated from various dimensions but the best way is through educational institutions. Educators and faculty members can help motivate students to grow with an enterprising spirit so that they can accept new challenges, find opportunities, develop management capability, and overcome external/internal barriers within the business environment.
Building entrepreneurship skills include imparting a mix of technical skills, management skills, and personal maturity skills – such as self-awareness, accountability, creativity and emotional stability – all of which equips students with the ability to take risks, and become innovative, change-oriented, and persistent individuals. Developing the right set of entrepreneurship skills help students recognize the social and economic opportunities and act upon them, thus maximizing their chance for experiential learning.
Developing entrepreneurship skills means exposing students to real-life business situations and risks and teaching them to analyze them.
- By encouraging participation in case studies, workshops and industry projects, students can be equipped with the knowledge to relate theoretical concepts and content with real business challenges.
- Guest lectures from industry experts and professionals can help students have an engaging industry-oriented session and add practical insight into the course content.
- Educational institutions can aid students in business/product launches by working in tandem with aspiring graduates and helping them get funds and research to build their business ideas.
- Also, international exchange programs at educational institutions expose students to varied cultures and professional backgrounds, allowing them to understand business operations from a global perspective.
So, the role of universities and their courses in building entrepreneurship skills is inevitable. The fact is that if you are committed to launching a successful enterprise with your business idea, a degree in entrepreneurship can certainly help embarking on a business easier. Indeed, a college/university environment can provide you with all the resources and research information to bring your ideas to life and most importantly can give access to experts in a variety of fields.
In that direction, J.K. Lakshmipat University, a renowned educational arm of the J.K. Group, provides students the cutting-edge of holistic learning to develop entrepreneurs of tomorrow with globally relevant and actionable intelligence.
Entrepreneurship Program at JKLU
Knowing the endless career opportunities in the business world, J.K. Lakshmipat University has designed the B.Com (Hons.) in Entrepreneurship program for graduates to develop career-specific skills and intangible traits that let them stand ahead of the curve.
Entrepreneurship programs at JKLU offer a contemporary curriculum that bridges the gap between theory and practice. A commerce degree with a specialization in entrepreneurship gets students not only the information that pertains to launching a business but also grounding in all those subjects necessary to keep the business up and running.
The B.Com (Hons.) in Entrepreneurship at JKLU provides emphasis on quantitative analysis and accounting skills to prepare future ready accounts & finance managers who can run a business efficiently. The program also offers a two months industry internship for students to learn about the nitty-gritty of the specific business field. In order to develop appropriate entrepreneurship skills and traits, students are encouraged to have active participation in seminars, conferences, and workshops. Furthermore, guest lectures by industry experts and academicians of repute enable students to stay abreast with the industry basics/developments and make informed decisions in the future. Overall, the entrepreneurship program aims at developing entrepreneurship skills along with business knowledge, allowing students to build commercial awareness and learn beyond classrooms for a real-world experience.
Thus, it is necessary that each and every graduate has to develop strong entrepreneurial skills within, so that they can contribute to the business environment and succeed in all endeavors of life. J.K. Lakshmipat University is committed to preparing individuals into employable professionals and entrepreneurs of tomorrow with a proper mix of dynamic faculty, cutting-edge curriculum, and infrastructure that helps promote holistic development and nurtures entrepreneurship.