04
Fostering the culture of entrepreneurship
Posted by Haris Hassan | Posted in Careers | Posted on 04-08-2010
Entrepreneurship is one word you may be hearing too frequently in recent days. With the financial gloom yet to clear out, most of the people are still trying their best to get back to a 9 to 6 role. Some of them will eventually succeed while some may choose other options depending upon their career priorities.
Unfortunately, people of our society usually narrow down their options. Despite of all this media and technological explosions, people here in the land of the pure are yet to wear their thinking cap and think out of the box. Meet any college pass out and you would eventually end up seeing 98% wannabe engineers and doctors. Those who do not end up in these professions do not do so by choice but by force (poor academic record etc). The rest 2% are bold enough to follow their dreams and pursue their passion.
The role of universities is also too much to be desired. They are still running on old systems and not being bold enough to update their curriculum and mode of operations according to changing times. Final year projects can be a great source of fostering the spirit of entrepreneurship amongst students but we are yet to see any student group come up with something innovative. I think we have had enough of projects like automatic car parking, robotic arm, PLC based controlling systems. No doubt all these are good projects but it’s high time that we move on from such stuff. I don’t think students should be blamed for this because at the end of the day they will not get good grades if they try to make something fancy. The reason for blaming universities is because entrepreneurship is often a difficult undertaking, as a vast majority of new projects fail, but if the universities can entice students to be bold enough and not care so much on end results a change in paradigm is expected.
It is perhaps the best time for people to venture into entrepreneurship. With slim opportunities everywhere, people on their own should create value not only for themselves but also for others. Starting off part time with a solo project and then moving into full fledge ventures is not a bad idea.
By promoting the spirit of entrepreneurial thinking we can not only foster entrepreneurial spirit but also potential economic support plan in these tough times.
Some of the steps that can be taken include:
1. Integrating entrepreneurship into education systems.
2. Encourage students to take risks with their projects.
3. Have campaigns similar to Enterprise Week launched by UK in 2004.
4. Hiring managers in MNCs should give preference to students having entrepreneurial projects.
All sorts of criticism, feedback and suggestions are welcomed
P.S: You might be interested in watching how entrepreneurs can actually change this world.

