Entrepreneurship is set of activities that are taken by a person to draw together numerous resources and ideas and syndicate them into a commercially conventional product. In its simple understanding, entrepreneurship is the process of changing the individuals ideas into a viable business venture. While some people argue that entrepreneurship is inborn, there is a very strong relationship that exists between entrepreneurial activity and education levels that may lead to the success or failure of a business venture (Lichtenstein and Lyons, 2001)). In this regard, the entrepreneurship education should be invigorated as far as from primary level as learners self-assurance about their aptitude to begin a business later in their life is built on education (Jesselyn and Mitchell, 2006). Notably, the higher educational organizations play imperative roles in the growth of entrepreneurial proficiencies through innumerable courses, development, and training programs. Particularly, these institutions offer a platform for people to cultivate their innovativeness and creativity that has a paramount role both in technical and financial assistance to the persons through mentors, guides, and consultants.
Higher education is very mandatory in producing a whole round entrepreneur due to the programs and case studies that are accessed in such institutions. Notably, entrepreneurship is driven by the need for the accomplishment of a person and such institutions assist the people with motivational training (Smith, 2007). As such, people are advised by the course structure and activity based by the universities to locate, grow and perfect their competencies and skills (Jesselyn and Mitchell, 2006). Particularly, the case studies of dissimilar efficacious entrepreneurs assist them to recognize the potholes and processes in their entrepreneurial path so that they can formulate and learn certain strategies based on them. Additionally, case studies made by the universities assist the individuals to connect themselves and advised by the role models that give positive motivations.
Higher institution gives individuals ability to recognize various opportunities. One of the aspects tutors teach in entrepreneurship education and provide acquaintance is the opportunity recognition. Notably, some individuals go through the life and do not actually see the opportunities that should be utilized. According to Smith (2007), once people begin to observe the globe through a marginally diverse lens, they start to identify the potential opportunities. On the other hand, Kwiek (2008) says that opportunities have to be identified, created, and utilized. Conversely, it is through education that most people can identify such chances. However, it is not obvious that they will act on them but the bottom line is that there are more chances of utilizing such opportunities once they have been identified.
Tertiary institutions and universities have tremendous effects on Entrepreneurial development and innovation. Notably, universities serve as imperative networking function that connects potential innovators globally through their technology parks and incubators. According to Kwiek (2008), the emergence of technology calls for technological innovations that can be found in the school. Remarkably, in the developed countries, most students begin their companies while they are in school due to the fact that they have access to the materials needed for such innovations (Smith, 2007). Moreover, most universities have organized their research competencies and hosted new entrepreneurship courses to be more approachable to local industries that set up specified research units, interdisciplinary projects, and joint cooperative ventures that create a comfortable environment to transform new ideas into real actions. In the United States, some of the universities that have been on record on catalytic role of entrepreneurship include Harvard University, University of Texas, and the University of North Carolina.
Lastly, there is overbearing of melodramatically scaling up the quality and quantity of higher education across diverse disciplines and determined to be world class. In this regard and in addition to the sectors of engineering and science, entrepreneurship should be encouraged through education (Mitchelmore and Rowley, 2010). Particularly, the several tools of entrepreneurial education consist of hovering awareness of the concepts of entrepreneurship by educating students on entrepreneurs and personal experiences (Kwiek, 2008). A wider view of entrepreneurial education consists of boosting the qualities of effective entrepreneurs by furnishing students with the skills to initiate a fruitful business. The other tool relates to the formation of new schemes to assist learners to get the entrepreneurial skills needed to run a profitable business (Jesselyn and Mitchell, 2006). Thus, tertiary institutions have the abilities not only to educate people about entrepreneurship but also nurture the characteristics of entrepreneurship.
Following the discussion furthered herein, it is evidenced that although some people may be innovative and possess inborn aptitudes of entrepreneurial skills, education that is found from the tertiary institution is very mandatory for effective running of the business. Through higher education, certain programs and case studies can be accessed which adds entrepreneurial skills to particular individuals. Further, tertiary institutions offer a networking platform that connects innovators across the regions. Moreover, the higher institution gives individuals ability to recognize various opportunities. In this regard, tertiary institutions have an important role in creating successful entrepreneurs.
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Kwiek, M. (2008) Accessibility and Equity, Market Forces, and Entrepreneurship. Available at: http://www.oecd-ilibrary.org/education/accessibility-and-equity-market-forces-and-entrepreneurship_hemp-v20-art5-en (Accessed: 26 October 2015).
Lichtenstein, G. A., & Lyons, T. S. (2001). The entrepreneurial development system: Transforming business talent and community economies. Economic Development Quarterly, 15(1), 3-20.
Mitchelmore, S., & Rowley, J. (2010). Entrepreneurial competencies: a literature review and development agenda. International journal of entrepreneurial Behavior & Research, 16(2), 92-111.Russell, R., Atchison, M. and Brooks, R. (2008) Business plan competitions in tertiary institutions: encouraging entrepreneurship education, Journal of Higher Education Policy and Management, 30(2), pp. 123138. doi: 10.1080/13600800801938739.
Smith, H. L. (2007). Universities, innovation, and territorial development: a review of the evidence. Environment and Planning C, 25(1), 98.
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