Entrepreneurship means setting up a business and running it uniquely. It involves seeking profits while undertaking risks. Anyone willing to take risks after making some investment can be a businessman. Being successful or not is altogether a different story.
But, it is believed that some skills like leadership, communication skills, confidence, etc. should be mastered to be an entrepreneur.
According to Peter Drucker, an American-Austrian consultant, "Entrepreneurship is not magic, it’s not mysterious, and it has nothing to do with genes. It’s a discipline, and like any discipline, it can be learned.”
Still, there are many conflicts on whether entrepreneurship can be learned or taught. According to some people, entrepreneurship can be conducted at higher education institutions and high schools, and even many institutions have launched entrepreneurship programs in the academic sessions. Others believe that entrepreneurship can be taught only by entrepreneurs who have gained practical experience in the field. And some people believe that entrepreneurship can not be learned or taught by someone. This is something that people learn only by doing it.
Some evidence proves that learning entrepreneurship reflects the impact of entrepreneurship on the economy and society it has been identified on the basis of three core skills and aptitudes that make a successful entrepreneur – persistence, ability to evaluate risk, and adaptability.
Running a business is hard, learning entrepreneurship to be at the level of an effective entrepreneur is like mastering any new skill. You must have knowledge about how to improve entrepreneurship education best by doing, and you must be willing to put things into practice with consistency and focus. But many mistakes which cause nine out of ten startups to go bust can be avoided with just the proper business training.
With the changing scenario and lack of job opportunities, people choose to be financially independent and start their businesses. Just ask yourself a simple question: can you learn to be an entrepreneur, or can entrepreneurship be taught in the classroom? And you will get a clear answer. We can indeed learn about it, its process, how it works, and various other points by sitting in a classroom listening to a lecture or by the typical case-study method used in business programs. But it is more of an experiential subject that requires “learning by doing”—that is, action and interaction in the real world to find product/market fit.
Of course, being a successful entrepreneur mistakes you wish to avoid while being an entrepreneur can not be taught in institutions. There will be ten different perspectives and decisions of 10 other people over the same topic who have learned the same thing from the same institution. In the entrepreneurship world, your choices and risk-taking ability decide your success or failure. However, not to ignore the fact that the business school does teach some fundamental skills necessary to run a business, generate revenue, establish a partnership, manage people and generally avoid financial or legal issues.
Having a corporate vision and selling that vision is not enough to build a successful company. True success, especially for a small company, requires particular and defined skills — from operations to coding, accounting, and taxes.
Tools to organize and analyze their thoughts
Methodologies that encourage them to move beyond their intuition and original ideas to listen more closely to what the market is telling them
Community support and feedback as a result of working in peer groups and with other entrepreneurs or advisors
General business knowledge and support, such as marketing and finance fundamentals, to help them build components of their growing business on an as-needed basis
Although we can’t create entrepreneurs, we can offer the tools, information, networks, and support to help entrepreneurs build successful business models.
A degree program in learning entrepreneurship can teach necessary skills — and perhaps help graduates achieve their goals more quickly through internships and networking opportunities. But the essential passion, drive, and creativity of an entrepreneur cannot be measured or taught.
We can settle this by agreeing that some people learn all by themselves via the real world (which is the best way for them). Others learn by a mixed model that may include understanding the fundamentals in a formal educational setting and learning by doing.
Read more about the topic:
In general, Larsen says entrepreneurship, like any skill or field of study, is taught. While some people are autodidacts, Read More.
Running a business is hard, but many of the mistakes which cause nine out of ten startups to go bust can be avoided with the proper business training. Read More.
If people were born with entrepreneurial skills, then why should one pay for college? This is often a topic of debate. Read More.
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Contributor: Jyotshana Rani
Jyotshana is very keen to express her views on new topics and wants readers to remember her through her writing. She is passionate about reading and believes that words wield the power of changing the scenario, and she uses them to encourage people to the best of her knowledge.
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