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Educating the Next Wave of Entrepreneurs: Unlocking Entrepreneurial Capabilities to Meet the Global Challenges of the 21st Century

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The World Economic Forum’s Global Education Initiative (GEI) report, Educating the Next Wave of Entrepreneurs provides specific recommendations for the academic, public, private and non-profit sectors to collaborate in supporting the development of entrepreneurship ecosystems, in which education is a key driver. The report highlights the importance of entrepreneurship education for developing the skills, attitudes and behaviours necessary to create jobs, generate economic growth, advance human welfare and stimulate innovation to address global challenges. The report provides a landscape of entrepreneurship education practices across the globe covering youth (with a focus on disadvantaged youth), higher education (focusing on high growth entrepreneurship) and social inclusion (with a focus on marginalized communities). This is the first time entrepreneurship education has been considered in such a comprehensive manner.
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... Entrepreneurship education and training programs can be classified under two related but distinct categories: Education programs and training programs (Valerio et al., 2014). Academic entrepreneurship education programs tend to focus on developing knowledge and skills about and for the purpose of entrepreneurship, while entrepreneurship training programs tend to focus on knowledge and skills in preparation for setting up and/or running an enterprise (Volkmann, et al., 2009). Although these two categories are conceptually different, it should be acknowledged that in practice there are cases where both the programs are integrated into one single program (GEM, 2010). ...
... These programs primarily target secondary education students and higher education students-both graduate and undergraduate studentsenrolled in formal degree-granting programs (Volkmann, et al., 2009). These programs include integrating subjects related to entrepreneurship into educational curricula, and building teachers' capacity to properly teach the subjects (ILO, 2001). ...
... Entrepreneurship training programs: These programs target potential and practicing entrepreneurs who are not part of formal degree-granting programs (Volkmann, et al., 2009). ...
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The problem of youth unemployment in Afghanistan is a persistent phenomenon and is one of the biggest threats to the country's political and social stability, and economic progress. This research aims to explore and propose applicable solutions to this problem in the country. The study utilized a Mixed (Quantitative and Qualitative) research method that employed primary and secondary data and is based on a case study of Nangarhar province. The approach of this research is based on the supply and demand-side analysis of young labor in the Afghan labor market. It is found that youth unemployment is mainly caused by low qualifications (poor education and low skills) of young labor and insufficient jobs in the labor market. Thus, the study argues that the problem must be addressed from both the labor supply and demand, in order to increase the qualifications of as well as create more jobs for young labor. Labor supply-side solutions are found very useful in enhancing the quality or the qualifications of young labor and making it meet the labor market needs. They include fostering general education, education-to-work programs, restructuring the TVET system, promoting youth entrepreneurship, and programs aimed at uneducated youth. Labor-demand side solutions are found advantageous in creating more employment opportunities for young job seekers and comprise agriculture-led job creation, private sector and industrial development, and subsidized employment programs. This research concludes that investing in young people pays off with positive impacts on employment. The study recommends that the Afghan government and policymakers should place employment creation at the center of macroeconomic policy.
... Similarly, Gana (2001) showed that capital accessibility and entrepreneurial potential are the key factors motivating young people (graduates) into business. Other researchers suggested that of the scarcity of businesses developed by graduates in developing countries is due to the lack of funds (Kuratko, 2003;Gibb, 2002;Schramm, 2016;Klaper and Leger-jarniou, 2006;Wilson et al. et al., 2009). Wang and Wong (2004) contested this view and asserted that the availability of Brixy et al. (2012) stated that an analysis of the process of becoming an entrepreneur helps to identify and understand thresholds and gaps that could hinder new and promising entrepreneurs from starting a business. ...
... It added to the available prevailing knowledge on some of the driving forces of graduate entrepreneurship since most researchers agreed that capital availability is a determinant for graduate entrepreneurial set-ups (cf. Fourati and Affes, 2013;Kuratko, 2003;Gibb, 2002;Schramm, 2016;Klaper and Leger-jarniou, 2006;Wilson et al. et al., 2009). Due to the lack of access to capital, the number of enterprises created by students in developing countries is dwindling. ...
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Purpose: Many graduates want to become entrepreneurs and set up their own companies to provide employment and future security for them. However, most graduates face limited capital accessibility that could facilitate their entrepreneurial desires. This study was conducted to assess the implications of capital availability and accessibility on graduates’ propensity towards their entrepreneurship development. Methodology: A quantitative strategy and deductive reasoning were adopted to analyze primary data obtained from structured and close-ended questionnaires. The population constituted graduates in Ghana and since the number is infinite and difficult to determine, Cochran’s formula was used to obtain a sufficient sample size of 384.384 questionnaires were therefore distributed using a convenience sampling technique. 342 questionnaires (representing over 89% response rate) were retrieved for analyses. Correlation, Mean score and relative importance index were employed in analyzing the data. Findings: Findings reveal that the availability of funding is a catalyst for graduates to venture into entrepreneurship as capital investment made graduates focused and motivated and therefore, able to succeed in business. More than 70% of graduates agree that capital availability was their deciding factor in starting their own businesses. The study established that capital accessibility is needed to help graduates: acquire skills; pursue entrepreneurship as a career option; and bring about wider innovation and renewed growth within Ghana’s economy. Practical Implications The implications are in the areas of policy and reformations that could create a positive graduate proclivity towards entrepreneurship. Originality: This paper constitutes a modern appraisal of the effect of capital availability and accessibility on graduate’s propensity towards entrepreneurship.
... Recent studies shows that entrepreneurship can be imparted and developed through entrepreneurship education and training (Petridou et al.,2009). Entrepreneurship education evolved a century ago, with organizations such as Junior Achievement (Volkmann et al., 2009). Harvard University introduced one of the initial programs in entrepreneurship in the year 1945 to invigorate the United States economy followed by an MBA entitled 'Management of new enterprises' that started in 1947 (see Martina & Iucub, 2013). ...
Preprint
Entrepreneurship teaching and training is an imperative educational domain for business and economy. An additional insight into the teaching and learning process in Entrepreneurship related courses will enable better policy making and better pedagogy. With a focus on learning in entrepreneurial courses, the primary objective of the research is to understand the impact of faculty traits on learning in the context of three moderator variables (age, gender, educational qualification). The study highlights that three faculty traits are significant to entrepreneurship learning and should be considered in the teaching-learning process. These traits are gender, diversity in educational background and real life work experience. The study is based on a sample (204 respondents) from the Egyptian population and uses the regression techniques to draw inferences.
... The ability to think and reason rationally to solve complicated and openended problems is referred to as modern literacy, and it involves a set of abilities contributing directly to perform active and effective information searches by utilizing digital devices, tools, and application (Boyles, 2012, p. 45). While multiple literacies and in particular, IL (Boyles, 2012), and DL (Sariwulan et al., 2020), are regarded as crucial individual's capacity in an information-based economy, these concepts are often overlooked in entrepreneurship research (Ghafar, 2020;Nikou et al., 2020;Obschonka, 2014;Saptono, 2018;Wilson et al., 2009;Wise, 2013). Regarding competencies and development needed in the digital context, Neumeyer and Liu (2021) provide a comprehensive framework on technology and digital literacy. ...
... These entrepreneurial enterprises are often innovative and question the status quo, which makes them particularly suitable to occasional societal change. This feature warrants recent calls by supranational policy-makers like the EU or the OECD to implement entrepreneurship education into the school and university curricula (Wilson et al. 2009). The project presented in this paper is aimed at the development and validation of a course to foster the entrepreneurial mindset and skills of high school and university students. ...
Conference Paper
Nascent entrepreneurs face ambiguous demands and unique challenges. They require novel and specific skills to address the continuously changing environment successfully. Mindfulness can serve as a means to enhance self-leadership skills, and thereafter, entrepreneurial skills. This study is occupied with the development of a training program manual designed to improve the entrepreneurial mindset and skills of high school and university students via the use of mindfulness-based self-leadership methods. The manual will be tested with the focus groups of enrolled students and pupils in Albania, Croatia, Finland, and Liechtenstein. Based on the results, a digital course will be constructed. The first module of the course covers self-awareness; the second module focuses on goal setting; and during the third module, a business plan is constructed. The third module also provides exercises to address obstacles such as intrusive thoughts or impedimental emotions. The fourth module teaches revision and reflection of accomplishments as well as forming habits to reach goals and implementing systems to manage tasks. The final module covers understanding others, their opinions, and different ways of thinking to empower students to build relationships and connections. Thus, a path from self-awareness to leadership is established. The training manual resulting from the project's implementation will enable access to specialized education and knowledge to a wide audience.
... In this sense, the Global Education Initiative, in the document created for the World Economic Forum in 2009 [56], appealed to changes in the world educational systems to help develop entrepreneurial spirit and with that support the improvement of the global economy. In this document, the institution recommended adopting 21st-century methods and tools, such as multidisciplinary approaches and interactive teaching methods to boost creativity, innovation, critical thinking, opportunity recognition, and social awareness. ...
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Having identified the need to conduct research on the intersection between entrepreneur- ship education (EE) and public policies, we carried out a systematic literature review on decision- making processes regarding the implementation of education for entrepreneurship programs in schools and the introduction of this topic in the policy-making process. This SLR followed every process inherent to its well-established protocol. The research undertaken confirmed that the un- derstanding of decision processes associated with the implementation of EE programs is not only a “missing link” in the discussions about the way in which countries manage situations related to EE, but also a gap in academic knowledge. Indeed, the SLR process included only nine articles in the final review (obtained through a methodology based on an algorithm)—which is a clear sign that further scientific research around this specific topic is needed. The articles included in the final review suggest that: (i) entrepreneurship is fundamental to the progress and evolution of countries and their regions, (ii) there is evidence that EE is central to a more entrepreneurial youth, and (iii) the successful implementation of recommendations from regulatory institutions is based on political commitment and implementation capacities.
... Entrepreneurship education is also important in the ever changing global and uncertain business environment, as it is becoming a necessary skill for all the people in the organizations (Gibb, 2002) and can act as an instrument for job creation and to drive economies forward (Wonget al. 2005).It can act as a means to empowerment and can create social value for public goods (Stevenson et al. 2006;Volkmann et al. 2009). Other than the economic development aspect, entrepreneurship education can increase an individual's relevance, motivation and engagement in work life (Amabile & Kramer, 2011). ...
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The field of entrepreneurship education is gaining lot of recognition in higher education in India. Also it is envisaged that the entrepreneurship education would develop the entrepreneurial intentions among female students. To this end, the study aims to identify the impact of entrepreneurship education on entrepreneurial intentions of female students in India. To determine this, sample of 388 female students studying at university level was taken. Three components of entrepreneurial education (Teaching, Practice Based Teaching and Perceived Teacher Support) are taken for the study. Structural equation modelling technique is used to identify the relation between the components of entrepreneurship education and entrepreneurial intentions. The findings suggest that all the components have significant relation with entrepreneurial intentions but the effect of Perceived teacher support were found to be low. This study adds to the current literature and also gives an understanding of practical implications and factors to be considered for developing economies like India.
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