Curated by the Knowledge Team of ICS Career GPS
Education
How entrepreneurial education can shape a generation
Excerpts from article by Kawthar Bin Sulayem published in entrepreneur.com
The way we do business continues to rapidly change over the course of time. Technology is revolutionizing how we work, how we communicate, and how we obtain knowledge. International barriers are being torn down and economies are becoming increasingly globalized. The gig economy is rising at a newly increased pace, while traditional means of work are shifting.
One thing seems to remain the same, the education system.
COVID-19 has certainly helped to expedite the exponential change in our professional and personal lives and remote learning has impacted the delivery of educational classes. However, we appear to be stuck in an antiquated system.
Students are often placed in a learning environment where memorisation and ‘knowing how’ is rewarded more than ‘showing how’. The introduction of more hands-on, practical tasks within education at a grassroots level will be a catalyst for the change we need to see.
Teachers embracing tech but lessons are still linear
For there to be a seismic change in our attitudes towards entrepreneurship, we need an educational system in which it is as valid to say, “I want to be an entrepreneur”, as it is to say, “I want to be a doctor” or “lawyer” and so on.
Many teachers are embracing technology and adapting to the sudden change triggered by the pandemic. However, the lesson structure is still linear and rigid.
This highlights the need for educational reform. In educational institutes, there are limited lessons on practical matters, such as personal finance, mortgages, loans or investments, but rather more focus is put towards the details of Keynesian economics principles.
Career as an entrepreneur is very much achievable
Further, there is usually limited opportunity for students to gain practical or theoretical insight into the business-world, and the word “entrepreneur” is often associated with the likes of Jeff Bezos, Steve Jobs and Bill Gates, which in turn may disenfranchise young people due to the “unattainable heights” of entrepreneurship.
In reality, a career as an entrepreneur is very much achievable and that is what we must teach and support from the grassroots level on up. Schools are efficient at equipping students with skills to use in exams, but they are frequently left without real-world skills.
What is the solution?
- Entrepreneurial education at a grassroot level will be the key driver in empowering our youth. We should consider familiarising students with the concept of understanding ideation, showcasing startup culture, introducing finances for SMEs, at very least at a basic level.
- We should ingrain the idea of understanding business models and strategies through critical thinking.
- We should be teaching the art of negotiation and promoting social skills so students can communicate effectively from an early age.
- We should be teaching the youth how to evaluate profit and loss, how to calculate a return on investment, understanding gross and net profit, and differentiating between assets, equity and liabilities.
Once you formulate this base knowledge, you set a trajectory of positive growth in a student’s understanding.
Career
Remote working is starting to show tears
Excerpts from article by Scott F. Latham and Beth Humberd, published in The Print
Over eight months ago, with haste and necessity, workers and organisations across the globe were thrown into the “great remote work experiment”. What was arguably an adequate short-term solution is now showing signs of wear and tear: Remote workers are burning out, organisational cultures are under threat, and leaders are fretting about the loss of creativity and collaboration.
While some companies are beginning to forge ahead with longer-term plans – like proclaiming that remote work will go on indefinitely or bringing at least some employees back to the office in a COVID-19-safe way – most organisations remain in a holding pattern: intent on returning to the physical office in some capacity, but repeatedly kicking the can down the road.
This is understandable, given the amount of uncertainty about the pandemic. Even with the news of the vaccine, health officials are warning of a grim winter.
This doesn’t mean the only solution is an immediate return to the office. Based on research in our field and lessons we’ve learned from our work with companies during the pandemic, we believe there’s a way to make the best of a tough situation. It requires acknowledging the real costs of the remote work experiment – and charting a path forward.
1. Employee burnout
The remote work experiment seemed to offer an initial boost in productivity. But sustaining such productivity has been difficult, in part because the home wasn’t designed for work and the consequences of “Zoom” fatigue are real.
Poor communication from company leaders is also a key cause of burnout. Without some sense of direction, burned out employees simply can’t be reengaged via another virtual happy hour.
2. Weakened cultures
Another downside of the lack of interaction with colleagues is the impact on organisational culture which research shows is a key contributor to job satisfaction and performance.
Initial hopes of strengthened cultures as employees navigated the unprecedented shift together are dwindling as time wears on. What’s worse, corporate policies meant to monitor and control employee behaviour risk eroding worker trust and undermining cultural norms.
Thus, it is very important for companies to think carefully about the lasting impact and strategies for dealing with COVID-19.
3. Interrupted innovation
A third major cost of this sustained remote period of work is the lack of collaboration and its disruptive impact on innovation.
Sure, some collaborations and idea generation can take place via Zoom meetings, but innovation still largely happens in physical spaces: at lab benches, alongside a 3D printer or in unintended office interactions that spark interdisciplinary collaborations. These initial steps become the source of intellectual property, new startups, future commercialisation and ultimately consumer value.
4. A purpose-driven plan
Though the pandemic is still with us, organisations and workers need a plan now.
This isn’t simply about logistics, such as deciding whether, when and how to return to the office, but addressing the downsides of this sustained remote work experiment by reengaging workers around a sense of organisational purpose.
It’s about creating a shared sense of purpose to lead workers through one of the toughest periods in world history.
(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.)
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