Entrepreneurship education has the mandate to equip the youth with the functional knowledge and skills to build their character, attitude and vision. It prepares people to be responsible and enterprising individuals. It helps students develop the skills, knowledge, and attitudes necessary to achieve the goals they set out for themselves. Evidence also shows that people with entrepreneurial education are more employable.
Today students are very dynamic and have the capability to think out-of-the-box. Many futuristic schools have implemented the teaching of entrepreneurship in their classrooms. Several students around the world have successfully launched their business and are getting support from venture capitalists and angel investors.
Following are some of the ways in which entrepreneurship skills can be introduced in schools or classrooms.
Business idea class: Once a month, public speaking class can be organised for the students, where they are required to come up with business ideas along with their project report. At the speaking event, students are required to give details of the business, such as capital required, raw material and machinery, skilled and unskilled labor. Such activities in classrooms can boost the morale of students and can instill confidence. This entrepreneurship skill is imperative for students as it teaches them to critically analyse the solution.
Remedial measures: After understanding the problem, all the students of the classroom can give an individual solution to the problem, by writing their names on the paper, along with the solution. This procedure will help the students to think constructively. This will not only enhance their confidence, but will also give them a sense of achievement and will therefore, develop a healthy relationship amongst the students.
Competition at the school and inter-school level: Entrepreneurship competitions can be organised at the school itself, where the students from different houses can participate and can bring their business ideas with the help of their teachers. Depending on the success of such inter-house programmes,the same can be done at the inter school level, where different schools can participate in the competition and can come up with business ideas. The winner's idea can be partially financed by the sponsors. This will motivate the students and will prepare them for the future challenges and complex questions.
Guide groups: Commerce teachers from various schools can take up an initiative to create a group on Whatsapp or social media platforms in order to discuss and promote the ideas presented by the students. This will prove to be beneficial for the students and teachers can also contribute to the development of the society by encouraging upcoming entrepreneurs in the society.
Introspection: No business or idea can be successful until the idea is properly scrutinised. This can be done by a team of experts with the relevant experience such as angel investors or venture capitalists. Once they clear approve the business idea, it can be directly executed.
Business skills or an idea might look very simple, but it requires a huge amount of hard work, dedication and focus. But with a positive mind-set and a few tried and tested methods and tools, teachers can help the students to develop entrepreneurship skills.
Authored by Sandeep Dutta, HOD, Business Studies, Tula's International School.