Curated by the Knowledge Team of ICS Career GPS
Education
Here’s why schools should include entrepreneurship skills in their classrooms
Excerpts from article by Anup Pai, published in India Today
Entrepreneurship education and networks are considered as one of the most influential forces that improve the health of the start-up economy. We also need “ready to launch” business platforms through which aspiring entrepreneurs can get access to knowledge, technologies, networks, and capital to start their journey. An example is eSamudaay, a first of its kind decentralised local e-Commerce platform for India.
How schools can introduce entrepreneurship skills
We also need to inculcate the innovation spirit at the grassroots level and reboot our education system to create entrepreneurs as against just preparing students for jobs. Educational institutions can play an especially important role by building a strong foundation of innovation and entrepreneurship to empower aspiring entrepreneurs to create successfully high-impact ventures. This can be very effective especially for a country like India.
To make the students aware of the possible benefits of being an entrepreneur, a basic entrepreneurship programme should be incorporated into the regular curriculum as an optional subject. The future belongs to the innovators and leaders. Education is an important factor in determining the entrepreneurial orientation in individuals. Formal education is positively correlated with entrepreneurship.
Incubators and entrepreneurship cells
Universities in India have begun to respond by creating incubators and entrepreneurship cells where students get access to the right resources and guidance from faculty as well as mentors from the business world. Education is no longer confined to just school- and college-going students but expanding to include learners of all ages, who must update their capabilities to stay relevant in a dynamic world.
A number of initiatives have been undertaken by the government in recent years to develop entrepreneurial skills which have been included in India’s new National Education Policy.
Efforts like Villgro, Unltd India, and Bharat Inclusion Initiative have supported grassroots- level entrepreneurship to solve issues in sectors like agriculture, health, the environment, and rural supply chains. In the post-Covid economy, value creation is a continuous process of ever-expanding co-operating social networks, tacit knowledge, and entrepreneurial capital combining to drive rapid societal impact.
Startups are one of the strongest engines for wealth creation, employment, and economic growth. Startups can act as a vehicle to achieve the next level of economic growth and social development. India has begun its journey to becoming one of the fastest-growing startup hubs in the world, and today, it is the third-largest in technology-driven product start-ups, after the US and the UK.
The Global Entrepreneurship Monitor estimates some 20% of Indians (aged between 18 and 64 years) intend to start a business in the next three years, while more than 11% are first-time entrepreneurs. Since June 2020, there has been a tremendous increase in the number of new companies being incorporated, and this trend is expected to continue. But volumes alone are not enough.
The sobering fact is that 45 to 50% of the companies do not make it past the first one year
Therefore, the need of the hour is to improve the success ratio. Entrepreneurship is not a sprint or even a marathon. It is like training for a marathon. If we can find a way to increase focus on core business fundamentals like cash-flow and profitability for these new companies and develop the founders’ grit to keep improving, India’s goal of a USD 5Tn economy by 2024 will be realised.
Career
5 Steps to Take Charge of Your Career
Excerpts from article by Sarah Danzl, published in Entrepreneur India
Building a career is a difficult task. The ups and downs are inevitable, as they are influenced by the economy, employers, and the decisions we make along the way. Through deliberate and thoughtful choices, you can (and should) take charge of your own career in the most meaningful and impactful ways. When you do, you are more likely to be in control of your own future. For that, you must focus on five aspects:
1. Think long-term: accept imperfect opportunities
Like most, I have had several employers and have worked in different positions. I love my current job, but finding and landing this dream job didn’t just happen. For one thing, I had to envision myself in a role like this long before I thought it was achievable.
At the beginning of my career, I had the dilemma about what I felt, at that moment, it was a big change in my career. The opportunity was in a new field, at a lower level of the scale, in the corporate sector. But then something happened that put my dilemma in context that instantly clarified everything for me. My dad asked me how the job I was considering would contribute to my ability to land my next work and, finally, “the job of my dreams”. Rightly, I began to view good but imperfect opportunities as valuable stepping stones.
2. Keep learning and developing skills – embrace advancement
Developing your knowledge is one of the biggest keys to success. It is not only smart, but also necessary. The good news is, it’s easier than ever to keep up with the skills you need to be successful, no matter what your career goals are. More and more employers are offering employees online learning opportunities. Identify the skills you have and the ones you need and then dive into them!
Never shy away from learning new skills and not just exploring. And if your employer offers you these or other development opportunities, don’t hesitate to come forward and take advantage of them. Be proactive and participate in new projects and with diverse fields. Every step you take to learn and develop prepares you for your next big career move.
3. Control your social behavior: create “your personal brand”
The way you choose to show yourself professionally is very personal. It can also depend heavily on your line of work. It’s important now to refine your presence on social media.
The reality is this: chances are a potential employer will try to see what you posted. Choose images and words that are consistent with your professional goals. And if you insist on publishing content that could be harmful, verify that your settings are secure and that your accounts have the maximum possible privacy. Remember that there is no guarantee that this will save you.
LinkedIn is another story. Its main purpose is to act as a professional network, so there really is no excuse to go the extra mile and post content outside of what is acceptable within your chosen industry. Your brand also exists offline in the way you conduct yourself with your peers and leaders. Go ahead and make key plays.
4. Create a network of people: it’s about getting in touch
The word “networking” can have a negative connotation if it conjures up images of sycophantic opportunists lurking at professional events, trying to get in touch with all the “right” people. Of course, it is important to meet people who can help you get ahead. But networking involves much more than greeting half the world at social events.
Done right, networking is as much about helping others as it is about helping yourself. LinkedIn is a great place to start connecting with others. You can, and should, also network in your current workplace. By doing so, you will establish key contacts with people who can help you take the next steps in your career.
5. Be realistic, patient and persistent
I don’t know who needs to hear this, but you most likely won’t be vice president in your second job after college. Most likely, you will not get a millionaire salary within two years of joining a company. But that doesn’t mean you shouldn’t dream big. And you need to take smart and firm steps towards each goal. Don’t limit yourself, especially when the going gets tough. You are going to receive negative comments.
Lastly, don’t feel “too important” for certain tasks. Sometimes you have to work in the trenches first to earn the medals. And I would say that it does us good both physically and mentally. Don’t underestimate yourself. You won’t know what’s possible until you try. And if you fail, don’t feel like it will always be this way in the future. Keep being positive and learning, never give up.
(Disclaimer: The opinions expressed in the article mentioned above are those of the author(s). They do not purport to reflect the opinions or views of ICS Career GPS or its staff.)
Like this post? For more such helpful articles, click on the button below and subscribe FREE to our blog.
Download our mobile app, ICS Career GPS, a one-stop career guidance platform.
