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Entrepreneurship education theory
Importance of education in entrepreneurship
Advantages and disadvantages of entrepreneurship education
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Recommended: Entrepreneurship education theory
The name of project is the “Readiness for Entrepreneurship (RE)”. The RE program helps the targeted people who are unemployed, and are interested in starting a business at the local level (for cities or counties). Once applicants are selected by objective criterion, the admitted applicants are eligible to get education of specific skills for six months or one year. The period of training will be depending on the area of establishment. In addition, the applicants may have financial supports after the education and interviews. Also, there is a strict condition when they start a new business: they should open a business within their administrative boundary (at least within in the neighboring counties).
Several conditions will be considerable for selection.
Age
Schooling/education
Periods of unemployment
Experience in the previous workplace
Startup experience
2. What are benefits and costs of the project?
Obviously, selected applicants will benefit from the RE program. They will have an opportunity to have enough knowledge and skills before they have their own businesses. Moreover, if they are qualified to get financial support from the local government, it should be easier to start a business.
Meanwhile, local inhabitants who should pay tax may be dissatisfied. Since the local budget is limited, budget for supporting the unemployed can bring a budget cut in other public service areas. However, it might be possible to apply federal subsidies for local economic development.
3. Relevant articles and evidences
According to Acs (2006), there are two kinds of entrepreneurship: necessity entrepreneurship and opportunity entrepreneurship. Necessity entrepreneurship has no option, except to be an entrepreneur. Unemployme...
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...increase of efficiency as a whole economy.
In addition, this program is only for unemployed or dismissed people from previous workplace. Among the applicants, a priority of the program candidate is for people who lost their job. Even if there are young people who are unemployed after high school graduate in the U.S., it can be argued that young people need more job experience. Instead of staring a new business just after graduate a school, it might be recommendable having job experience first.
Lastly, the regulation of opening location might have a negative effect. It can be inferred that some industry where clusters are specialized, the administrative boundary can be differ from their living areas. In this case, it can play as regulative costs. Based on tradition wisdom, opening location can be flexible, but it should not be other states or too distant locations.
A majority of people believe that graduating from college will result in a well-paying job. Unfortunately, a degree will not secure a job for many graduates. In the U.S., the jobless rate for college graduates in 2012 was 7.7 percent, and has further increased in the past five years(Robinson). With such a large pool of unemployed citizens for employers to choose from, recent graduates are facing fewer opportunities for work due to little or no previous work experience(Robinson). Although many graduates are faced with unemployment, the majority do receive the opportunity to work. Sadly, many must work jobs they do not enjoy for salaries that make it difficult to make ends meet(Debate). Students are faced with mortgage-sized debts upon graduation, making it difficult for them to start businesses, buy cars or houses, or make other investments that would better the
If the federal government support the small business financially, this may result in more prospurity, and co9vergae of clinical shortage . It is important to assign deligates to persuave some banks to l begin accepting applications from financial institutions who are interested in becoming Community Advantage lenders. It is essential to lobby the government to join thousands of partnerships , and focus on health,, education and welfare. The role will be more effective if we expand the partnership globally. global funding. Global funding can be significant in building program targeting HIV/AIDS, malaria and tuberculosis that are high risk from these diseases. Our focus should be focused on human development and not on energy development.
The Disadvantaged Business Enterprise program is available at both federal and state level. Small businesses with a background or niche in transport are the best candidates for this program. The rewards are good since the department (state and federal) allocates a lot of money in transpiration budgets. In addition, small businesses have the option to provide their services or products to the state transportation department or to the larger federal government. Choosing either option is a great opportunity.
This training provides the unemployed youth workplace-related training in two separate blocks, equipping young people with interview skills and the opportunity to be involved in Industry Awareness Experiences to expand on
Decision-making is one of the most important aspects of human life. Primarily, there are many factors that determine our daily decisions, and failure to consider such decisions may set an individual or an organization on the wrong path. This is arguably true for any entity regardless of its size, geographical location or field of operation. It therefore follows that awareness of the internal and external environment, and a more service oriented rather than profit oriented approach is a critical determinant in the success of a business. Sometimes it may take experience in an area to learn what exactly is fit for the business. In this case, a lot of patience and persistence may be necessary if any considerable advancement is to be realized. It is not always the desire for profits and class that oblige individuals into business. Banco Compartamos is a micro finance commercial institution that has an interesting history, having slowly grown from scratch to be one of the most popular micro finance institutions in Latin America. The primary objective that the founders had in mind was to help the poor, rather than doing business.
As one young person was heard to remark, “You can’t get a job without experience, and you can’t get experience without a job.” That dilemma can be overcome, however, by starting work early in life and by accepting simpler jobs that have no minimum age limit and do not require experience.
One of the major problems Lewis and Zaidane’s argue in their piece is that fifty-three percent of graduates are unemployed (587). People are attending college, accumulating debt, and are not able to start careers. Recently, a student graduated with a degree in marketing and because of low unemployment rate he had to work as a bartender. More people will have degrees than jobs in the next ten years.
State and local governments may be required to contribute partially to programs stemming from nonfederal revenue. When local and state governments have to spend more on these programs less of their own revenue is spent on programs of their choose and
The product will be generated to help the use of every person aged from 7 years old and above. The product can be used by everyone who can generate their own income or supported by a legal guardian.
But a significant part of any successful entrepreneurial sector or locale is the dense set of relationships that help entrepreneurs tap expertise, resources, and support. For instance, in Kuala Lumpur, a student run incubator group called VentureSense performs surveys and experiments to support startup ideas so that they can be started with less risk and successfully run if they launch their project.
The success of a business is greatly dependent on its entrepreneur. An entrepreneur is someone who takes the financial risk of starting and managing a new business venture. In order to be a successful entrepreneur, one must be ready to take a risk and invest one’s own savings into a business. The job requires that the individual be ambitious and committed to working hard in order to achieve the set targets. A successful entrepreneur is able to multi-task and communicates effectively with people, possessing leadership qualities such as confidence and motivation. The individual must play the role of constant motivator and inspire employees to improve their work performance, whilst ensuring a comfortable environment for the employees to work in. According to Schumpeter (1982), an entrepreneur is more of a ‘heroic’ than an ‘economic’ figure; his motivation should not solely be monetary, rather stemming more from inspiration and ambition.
According to Deakins and Freel (1998), the literature on entrepreneurship process has attempted to dichotomies into two approaches, which is from the nature of entrepreneurs and their role in econo...
Many people dream of becoming entrepreneurs someday. But it made me realize that there other factors that needs to be taken into consideration. We need to ask ourselves are we ready to take the challenge to the outside world. Not everyone have the vision, innovation and creativity to become an entrepreneur. The individual must have a positive attitude and accept the responsibility, have discipline to meet their goals, and take action when the opportunity presents itself. Many prefer a job security and rely on a weekly paycheck, while entrepreneurs will take risks and doesn 't have that luxury to know the amount of their income.
This paper examines the myths associated with what it takes to be an entrepreneur, the profiles and the common characteristics among these successful entrepreneurs.
Risk-taking is one of the chief dimensions of entrepreneurship. Entrepreneurs are found to be more risk takers than the managers and salaried employees, such that, they are willing to put their homes on mortgage, jobless and can work for years without any earning (Burns, 2011; Masters & Meier, 1988). According to (Moore & Gergen, 1985), entrepreneurs always take calculate risk and always analyse the situation. Cognitive Psychology supports that the risk taking ability is just limited to their area of expertise (Sjöberg, 1978, Heath & Tversky, 1991). According to (Heath & Tversky, 1991), entrepreneurs take more risk in the area of their interest and expertise and not in those area, they have little knowledge about. But even then also, they take more risk than general population.