This UKTI report, written by The Economist Intelligence Unit, looks at how to foster an entrepreneurial mindset both through education systems and business experience, and what makes entrepreneurs thrive. Read more>>http://bit.ly/16vlYCB
Article on 10 steps to improve entrepreneurship educationmitecenter
The document outlines 10 steps to improve entrepreneurship education based on lessons learned at MIT and other institutions. It argues that entrepreneurship is very important for job creation and economic prosperity, and that academic institutions can play a central role in developing entrepreneurs. The 10 steps are meant to build an educational experience that produces more successful entrepreneurs, and include making a strong case for the importance of entrepreneurship, exposing students to real-world entrepreneurs, integrating entrepreneurship concepts across disciplines, and providing funding and mentoring support for student ventures.
This document discusses the challenge of youth unemployment globally. It notes that youth unemployment increased dramatically during the recent economic crisis and remains high. Young people face unemployment at higher rates than adults for several reasons, including a lack of work experience, skills relevant to employers' needs, and connections to help find jobs. The document argues that addressing youth unemployment requires business investment in improving young people's access to skills training, work experience opportunities, career information and entry-level jobs.
Attracting and retaining the next generation of talentJennifer Falzon
It is clear that the dynamics and demographics of the Canadian workforce are changing. Currently, more than 50 per cent of the Canadian workforce is comprised of Millennials, those roughly born between 1980 and 2000. This is a staggering and important change for all industries in Canada.
The report aims to provide organizations with new approaches and opportunities to attract, engage and most importantly, retain these workplace game-changers. With high levels of student debt and a youth unemployment rate twice the national average, the next two generations of talent have new needs, expectations and are hungry for experience.
Learn how your organization can build a desirable employer brand by connecting and investing in students, foster talent despite the risk of mobility and create a nurturing environment for the next two generations of employees. There will be a direct correlation between the success and growth of your organization and its ability to attract and engage Gen Y & Z.
yconic owns and operates the largest youth market research panel in Canada. Over 550,000 youth between the ages of 13 and 30 have opted in to participate in our consumer surveys. We help our partners gain key insights into the youth demographic, leading to better marketing and product decisions for the teen and young adult market. For more information, visit we.are.yconic.com.
Across employers and industries, we have heard stories about the value young people bring to the workplace. Employers in manufacturing cited the need for serious hand-eye coordination and reported positive experiences with young people filling these roles. Others cited the benefit of having youth in their companies who can use evolving technologies. For others, especially firms that need a lot of entry-level employees, young workers are their lifeblood.
Youth Hold the Key: Building Your Workforce Today and in the Future focuses on the role that youth can play in helping employers meet some of their current and looming workforce challenges, and how companies can improve how they hire and retain youth. The findings are based on a recent survey of 350 employers, more than 80 interviews with employers and workforce experts conducted during 2014 by The Bridgespan Group and Bain & Company, as well as a review of published literature. Much of this work focused on the potential of the millions of young people—referred to here as "opportunity youth"—who are disconnected from both work and school, and lack a college degree, to address the needs of employers.
Bentley University's PreparedU Project on Millennial PreparednessBentley University
The survey found both agreement and discrepancies among stakeholders on issues of workforce preparedness. There was consensus that recent college graduates lack preparation, with stakeholders giving graduates an average grade of a C or lower. However, definitions of preparedness differed, with students less likely to include traits like work ethic. While most saw value in a college degree, students viewed it more as practical while businesses saw broader benefits. Students also had inflated views of their own preparedness compared to parental assessments. Overall, stakeholders recognized unprepared graduates harmed the economy and businesses. The survey revealed stakeholders were accountable and self-aware, especially graduates who largely blamed themselves for their lack of readiness.
For more information go to: http://www.bentley.edu/prepared They're about to be the largest workforce in US history, but are they ready for the 21st century workplace? And is it ready for them? In our ongoing PreparedU Project, Bentley university looks into the mind of the millennial to find inspiration and opportunity.
This document discusses challenges related to youth employment and proposes potential solutions. It notes that youth unemployment has risen significantly globally and many youth work but live in extreme poverty. Common challenges youth face include lack of work experience, inability to compete with skilled workers, mismatch between education and job requirements, and institutional/regulatory barriers. It proposes several solutions like improving vocational training to match market needs, providing youth work experiences through public works programs, helping youth start cooperatives and small businesses, and ensuring equal opportunities for women and vulnerable groups through targeted skills training and jobs programs. Overall it emphasizes the need for India to urgently reform its education and training systems to boost youth employability for financial, economic and overall development.
Article on 10 steps to improve entrepreneurship educationmitecenter
The document outlines 10 steps to improve entrepreneurship education based on lessons learned at MIT and other institutions. It argues that entrepreneurship is very important for job creation and economic prosperity, and that academic institutions can play a central role in developing entrepreneurs. The 10 steps are meant to build an educational experience that produces more successful entrepreneurs, and include making a strong case for the importance of entrepreneurship, exposing students to real-world entrepreneurs, integrating entrepreneurship concepts across disciplines, and providing funding and mentoring support for student ventures.
This document discusses the challenge of youth unemployment globally. It notes that youth unemployment increased dramatically during the recent economic crisis and remains high. Young people face unemployment at higher rates than adults for several reasons, including a lack of work experience, skills relevant to employers' needs, and connections to help find jobs. The document argues that addressing youth unemployment requires business investment in improving young people's access to skills training, work experience opportunities, career information and entry-level jobs.
Attracting and retaining the next generation of talentJennifer Falzon
It is clear that the dynamics and demographics of the Canadian workforce are changing. Currently, more than 50 per cent of the Canadian workforce is comprised of Millennials, those roughly born between 1980 and 2000. This is a staggering and important change for all industries in Canada.
The report aims to provide organizations with new approaches and opportunities to attract, engage and most importantly, retain these workplace game-changers. With high levels of student debt and a youth unemployment rate twice the national average, the next two generations of talent have new needs, expectations and are hungry for experience.
Learn how your organization can build a desirable employer brand by connecting and investing in students, foster talent despite the risk of mobility and create a nurturing environment for the next two generations of employees. There will be a direct correlation between the success and growth of your organization and its ability to attract and engage Gen Y & Z.
yconic owns and operates the largest youth market research panel in Canada. Over 550,000 youth between the ages of 13 and 30 have opted in to participate in our consumer surveys. We help our partners gain key insights into the youth demographic, leading to better marketing and product decisions for the teen and young adult market. For more information, visit we.are.yconic.com.
Across employers and industries, we have heard stories about the value young people bring to the workplace. Employers in manufacturing cited the need for serious hand-eye coordination and reported positive experiences with young people filling these roles. Others cited the benefit of having youth in their companies who can use evolving technologies. For others, especially firms that need a lot of entry-level employees, young workers are their lifeblood.
Youth Hold the Key: Building Your Workforce Today and in the Future focuses on the role that youth can play in helping employers meet some of their current and looming workforce challenges, and how companies can improve how they hire and retain youth. The findings are based on a recent survey of 350 employers, more than 80 interviews with employers and workforce experts conducted during 2014 by The Bridgespan Group and Bain & Company, as well as a review of published literature. Much of this work focused on the potential of the millions of young people—referred to here as "opportunity youth"—who are disconnected from both work and school, and lack a college degree, to address the needs of employers.
Bentley University's PreparedU Project on Millennial PreparednessBentley University
The survey found both agreement and discrepancies among stakeholders on issues of workforce preparedness. There was consensus that recent college graduates lack preparation, with stakeholders giving graduates an average grade of a C or lower. However, definitions of preparedness differed, with students less likely to include traits like work ethic. While most saw value in a college degree, students viewed it more as practical while businesses saw broader benefits. Students also had inflated views of their own preparedness compared to parental assessments. Overall, stakeholders recognized unprepared graduates harmed the economy and businesses. The survey revealed stakeholders were accountable and self-aware, especially graduates who largely blamed themselves for their lack of readiness.
For more information go to: http://www.bentley.edu/prepared They're about to be the largest workforce in US history, but are they ready for the 21st century workplace? And is it ready for them? In our ongoing PreparedU Project, Bentley university looks into the mind of the millennial to find inspiration and opportunity.
This document discusses challenges related to youth employment and proposes potential solutions. It notes that youth unemployment has risen significantly globally and many youth work but live in extreme poverty. Common challenges youth face include lack of work experience, inability to compete with skilled workers, mismatch between education and job requirements, and institutional/regulatory barriers. It proposes several solutions like improving vocational training to match market needs, providing youth work experiences through public works programs, helping youth start cooperatives and small businesses, and ensuring equal opportunities for women and vulnerable groups through targeted skills training and jobs programs. Overall it emphasizes the need for India to urgently reform its education and training systems to boost youth employability for financial, economic and overall development.
Preparing the Poor and Vulnerable for Digital Jobs: Lessons from Eight Promis...The Rockefeller Foundation
This report profiles successful demand-driven training programs from across the globe. These programs intentionally configure curriculum and other design elements to meet the needs of potential employers. Demand-driven training programs are a key pillar of our strategy for Digital Jobs Africa Initiative because they help ensure that the skills people learn are right for the job they are seeking. The report includes key lessons from the profiled models that can be used as a guide to successful demand-driven training programs.
Bentley University PreparedU Project: Millennial Women in the WorkplaceBentley University
The document summarizes findings from the Bentley University Preparedness Survey regarding perceptions of career preparedness and opportunities for millennial women compared to millennial men. The survey found that while respondents believe women are better prepared for their first jobs after college, men are perceived to be better prepared for long-term career success and better suited to succeed in today's business climate. However, the survey also found that respondents view women as having skills like communication and organization that are highly valued by business leaders. The document discusses potential solutions such as mentorship programs and helping women understand work-life balance to help address gender biases and barriers that women face.
The document provides reflections on findings from the CIPD's 2008 learning and development survey. It contains four short essays by learning and development experts.
The first essay examines future UK skill needs and divides stakeholders into four "camps" - cynics, dinosaurs, spectators, and players. It calls for more cooperation between education, business, and government to equip young people with skills.
The second essay discusses how the learning and development role has changed from top-down training to "support and challenge" through influence. It emphasizes working through others to drive change.
The third essay looks at continued interest in e-learning and whether it has lived up to expectations. It questions if the profession itself is changing.
Deloitte India : 2019 Deloitte Global Human Capital Trendsaakash malhotra
Deloitte’s Human Capital professionals leverage research, analytics, and industry insights to help design and execute the HR, talent, leadership and change programs that enable business performance through people performance. See More : https://www2.deloitte.com/in/en.html
Today, Asia-Pacific—and in particular the fast-emerging
nations in its midst—is once again taking centrestage in
the worldwide marketplace. This is the Asian century, and the region’s organisations—
as well as the talented individuals that lead them—
are going to need to adapt, fast.
This document discusses women in leadership and what established businesses can learn from women-owned businesses. It finds that women are increasingly leaving corporate jobs to start their own businesses. Women-owned businesses are succeeding and account for significant economic output. However, established businesses are still failing to get more women into senior leadership roles, despite evidence that mixed gender leadership benefits business performance. Through interviews with over 35 senior women, the document identifies some key lessons for established businesses. These include the need to change organizational culture and structures to be more flexible, collaborative and accommodating of women's leadership styles and lives outside of work in order to retain female talent.
Havas People Onboarding Whitepaper Sept 2015Fiona Morris
This document discusses onboarding Generation Z employees. It notes that onboarding is important for employers, new employees, and society. Generation Z differs from previous generations in that they have grown up with social media, are entrepreneurial, have a more casual relationship with employers, and want meaningful work. However, the education system does not adequately prepare them for the workforce and careers advice is lacking. Employers are also unprepared for Generation Z. Effective onboarding of Generation Z will need to address their skills gaps and expectations for flexible, socially-connected work that makes a positive impact.
In 2013, in response to the opportunities presented by Africa’s rapidly growing youth population and the ubiquity of information and communications technologies across the continent, The Rockefeller Foundation launched its Digital Jobs Africa initiative. The initiative aims to enable young people to access jobs by providing them with in-demand technology-related and other employability skills. Now just past its two-year mark, the Foundation is taking stock of the rich learning that has emerged from the initiative.
The document outlines several key drivers of corporate e-learning adoption. It states that the global economy has shifted to become knowledge-based, placing greater emphasis on continuous learning. Additionally, advances in technology have increased work complexity and the pace of change, requiring more frequent skills updates. There is also a growing gap between the skills workers possess and the needs of knowledge-based industries, driving the need for reform in education and training. E-learning helps address these issues by providing a flexible, cost-effective means of delivering just-in-time, ongoing training to geographically dispersed workforces.
This document summarizes the key findings of a survey of nearly 4,500 job seekers in 5 countries conducted by ManpowerGroup Solutions. Some of the main trends found include:
- Candidates see "type of work" as equally or more important than compensation when making career decisions.
- Candidates increasingly do their own online research and apply directly instead of relying solely on recruiters.
- Company brand reputation is important, especially for younger candidates.
- Over 1/3 of candidates see themselves as "continuous candidates" who are always looking for next opportunities.
The document discusses strategies for engaging multigenerational workforces, with a focus on millennials. It notes barriers like negative stereotypes between older and younger workers, as well as differences in communication styles and values. Millennials seek opportunities for career growth, meaningful work, flexibility, and a sense of purpose. They prioritize work-life balance, learning and development opportunities, and non-traditional rewards like travel and wellness benefits. Engaging millennials requires developing these skills and providing continuous feedback, learning experiences, and a millennial-friendly culture that leverages technology.
The document summarizes the findings of a survey conducted by Education For Employment, Bayt.com, and YouGov that compared the perceptions of young female job seekers, recently employed young women, and hiring professionals in the Middle East and North Africa region. The survey aimed to understand barriers preventing young women from entering the workforce by examining expectations around recruitment, desirable job attributes, the role of networking, employer attitudes towards hiring women, available benefits, and other factors. Key findings indicate mismatches between what young women want from employers versus what is offered, as well as a lack of awareness of available support programs. The analysis seeks to identify approaches to reduce employment barriers and inform future research on the topic.
First Jobs for Young Women in the Middle East and North Africa [WHITE PAPER]Bayt.com
"First Jobs for Young Women in the Middle East and North Africa: Expectations and Reality" is a research initiative from Education For Employment (EFE), Bayt.com and YouGov that provides insight into factors that inhibit or discourage young women from securing a first job. The recommendations are based on a survey of over 2,300 young women and employers across the Middle East and North Africa region (MENA) and complement existing research on women’s labor force participation in the region.
In your pursuit of positioning the workforce to sky-high leadership profiles & laying the groundwork to fight the uncertainties in the technological & economic environments, this wisely written whitepaper should prove to be your rock-solid support.
Etude PwC sur les femmes de la génération Y (mars 2015)PwC France
http://bit.ly/PwC-Female-Millennial A l’occasion de la Journée internationale de la femme le 8 mars prochain, le cabinet d’audit et de conseil PwC publie son étude « The female millennial : A new era of talent » qui chasse les idées reçues sur les femmes au travail. PwC a interrogé 8 756 femmes et 1 349 hommes appartenant à la génération Y (nés entre 1980 et 1995), issus de 75 pays, afin de révéler leur perception du monde du travail en général et de leur carrière en particulier.
The document discusses two global crises - high youth unemployment and a shortage of skilled workers. It analyzes data from surveys of over 8,000 youth, education providers, and employers across nine countries to understand the problems in moving young people from education to employment. The findings reveal significant disconnects between these stakeholders' views, a lack of effective communication between employers and education providers, and that youth are often poorly informed about career options and the skills needed for available jobs.
This report suggests that the number of young entrepreneurs in the UK could rise significantly. It finds that 30% of young people believe they will be self-employed in the future, and 25% expect to be their own boss within five years. While only 5% of young people are currently self-employed, many see it as an alternative in a tough job market. Barriers include lack of funding and support, but new technologies are making it easier to start online businesses with minimal costs. The report concludes that with the right support from organizations like The Prince's Trust, more young people may overcome challenges to become entrepreneurs and help boost the UK economy.
Education to employment getting europes youth into workFranco Ferrario
Youth unemployment in Europe remains high, with over 5.6 million young people unemployed across the EU. While young people want to work, over half say they cannot find jobs, and businesses struggle to find applicants with the right skills. The authors conducted research in 8 European countries and identified 3 main hurdles young people face: 1) the cost of education, lack of information on options, and bias against vocational education; 2) not learning sufficient general skills; and 3) difficulty transitioning to work after education. Only 10% of youth have successful pathways from education to employment, while 79% lack support and are unhappy with their prospects. Employers also face challenges, with less than half satisfied with workforce skills levels.
The Rockefeller Foundation's Digital Jobs Africa initiative aims to impact 1 million lives in six African countries by 2023. It will create sustainable digital employment opportunities for youth through impact sourcing, leveraging demand from companies for digital work, and exploring new digital jobs. The initiative will train youth in skills like data entry and digital literacy to prepare them for these jobs. It will also work to coordinate governments and businesses to continue supporting digital jobs beyond the initiative. The goal is for youth to gain skills and stable employment, improving their lives and communities through greater social and economic participation and resilience.
How can airlines improve the customer experience, revive brand loyalty and undo the effects of years of cost-cutting?
Read more and watch videos>> http://bit.ly/FoAT
The global economy is a complex web of business relationships that no company can navigate alone. Whether it is through outsourcing, partnership or simple supplier-customer interactions, all businesses are reliant on the relationships they have with their peers.
It stands to reason, then, that perfecting collaboration with one’s trading partners is a key success factor in business. But how can companies maximise the value of their trading partner relationships, and how can they mitigate the risks?
A survey released by The Economist Intelligence Unit (EIU) shows that 90% of business leaders believe they can help prepare cities for the effects of climate change, with 51% saying that investing in climate change resilience gives them a competitive edge.
The dovetailing of potentially devastating climate change impacts and urbanization by mid-century is of great concern to municipal leaders. The portion of the world living in cities is slated to rise to two-thirds of the global population (or 6.4 billion), up from 54% today, according to the United Nations. In tandem, the frequency and severity of floods, storms and drought as a result of climate change are expected to rise significantly in the coming decades, particularly in coastal areas, where many large cities are located. Forging preparative responses for these changes has thus taken on a new sense of urgency for government officials, non-governmental organizations and business leaders.
For business, the executive survey, supported by the Rockefeller Foundation, finds that the biggest perceived market and operational risk from climate change is the disruption of energy supplies, which could severely impact on a company’s ability to operate.
Preparing the Poor and Vulnerable for Digital Jobs: Lessons from Eight Promis...The Rockefeller Foundation
This report profiles successful demand-driven training programs from across the globe. These programs intentionally configure curriculum and other design elements to meet the needs of potential employers. Demand-driven training programs are a key pillar of our strategy for Digital Jobs Africa Initiative because they help ensure that the skills people learn are right for the job they are seeking. The report includes key lessons from the profiled models that can be used as a guide to successful demand-driven training programs.
Bentley University PreparedU Project: Millennial Women in the WorkplaceBentley University
The document summarizes findings from the Bentley University Preparedness Survey regarding perceptions of career preparedness and opportunities for millennial women compared to millennial men. The survey found that while respondents believe women are better prepared for their first jobs after college, men are perceived to be better prepared for long-term career success and better suited to succeed in today's business climate. However, the survey also found that respondents view women as having skills like communication and organization that are highly valued by business leaders. The document discusses potential solutions such as mentorship programs and helping women understand work-life balance to help address gender biases and barriers that women face.
The document provides reflections on findings from the CIPD's 2008 learning and development survey. It contains four short essays by learning and development experts.
The first essay examines future UK skill needs and divides stakeholders into four "camps" - cynics, dinosaurs, spectators, and players. It calls for more cooperation between education, business, and government to equip young people with skills.
The second essay discusses how the learning and development role has changed from top-down training to "support and challenge" through influence. It emphasizes working through others to drive change.
The third essay looks at continued interest in e-learning and whether it has lived up to expectations. It questions if the profession itself is changing.
Deloitte India : 2019 Deloitte Global Human Capital Trendsaakash malhotra
Deloitte’s Human Capital professionals leverage research, analytics, and industry insights to help design and execute the HR, talent, leadership and change programs that enable business performance through people performance. See More : https://www2.deloitte.com/in/en.html
Today, Asia-Pacific—and in particular the fast-emerging
nations in its midst—is once again taking centrestage in
the worldwide marketplace. This is the Asian century, and the region’s organisations—
as well as the talented individuals that lead them—
are going to need to adapt, fast.
This document discusses women in leadership and what established businesses can learn from women-owned businesses. It finds that women are increasingly leaving corporate jobs to start their own businesses. Women-owned businesses are succeeding and account for significant economic output. However, established businesses are still failing to get more women into senior leadership roles, despite evidence that mixed gender leadership benefits business performance. Through interviews with over 35 senior women, the document identifies some key lessons for established businesses. These include the need to change organizational culture and structures to be more flexible, collaborative and accommodating of women's leadership styles and lives outside of work in order to retain female talent.
Havas People Onboarding Whitepaper Sept 2015Fiona Morris
This document discusses onboarding Generation Z employees. It notes that onboarding is important for employers, new employees, and society. Generation Z differs from previous generations in that they have grown up with social media, are entrepreneurial, have a more casual relationship with employers, and want meaningful work. However, the education system does not adequately prepare them for the workforce and careers advice is lacking. Employers are also unprepared for Generation Z. Effective onboarding of Generation Z will need to address their skills gaps and expectations for flexible, socially-connected work that makes a positive impact.
In 2013, in response to the opportunities presented by Africa’s rapidly growing youth population and the ubiquity of information and communications technologies across the continent, The Rockefeller Foundation launched its Digital Jobs Africa initiative. The initiative aims to enable young people to access jobs by providing them with in-demand technology-related and other employability skills. Now just past its two-year mark, the Foundation is taking stock of the rich learning that has emerged from the initiative.
The document outlines several key drivers of corporate e-learning adoption. It states that the global economy has shifted to become knowledge-based, placing greater emphasis on continuous learning. Additionally, advances in technology have increased work complexity and the pace of change, requiring more frequent skills updates. There is also a growing gap between the skills workers possess and the needs of knowledge-based industries, driving the need for reform in education and training. E-learning helps address these issues by providing a flexible, cost-effective means of delivering just-in-time, ongoing training to geographically dispersed workforces.
This document summarizes the key findings of a survey of nearly 4,500 job seekers in 5 countries conducted by ManpowerGroup Solutions. Some of the main trends found include:
- Candidates see "type of work" as equally or more important than compensation when making career decisions.
- Candidates increasingly do their own online research and apply directly instead of relying solely on recruiters.
- Company brand reputation is important, especially for younger candidates.
- Over 1/3 of candidates see themselves as "continuous candidates" who are always looking for next opportunities.
The document discusses strategies for engaging multigenerational workforces, with a focus on millennials. It notes barriers like negative stereotypes between older and younger workers, as well as differences in communication styles and values. Millennials seek opportunities for career growth, meaningful work, flexibility, and a sense of purpose. They prioritize work-life balance, learning and development opportunities, and non-traditional rewards like travel and wellness benefits. Engaging millennials requires developing these skills and providing continuous feedback, learning experiences, and a millennial-friendly culture that leverages technology.
The document summarizes the findings of a survey conducted by Education For Employment, Bayt.com, and YouGov that compared the perceptions of young female job seekers, recently employed young women, and hiring professionals in the Middle East and North Africa region. The survey aimed to understand barriers preventing young women from entering the workforce by examining expectations around recruitment, desirable job attributes, the role of networking, employer attitudes towards hiring women, available benefits, and other factors. Key findings indicate mismatches between what young women want from employers versus what is offered, as well as a lack of awareness of available support programs. The analysis seeks to identify approaches to reduce employment barriers and inform future research on the topic.
First Jobs for Young Women in the Middle East and North Africa [WHITE PAPER]Bayt.com
"First Jobs for Young Women in the Middle East and North Africa: Expectations and Reality" is a research initiative from Education For Employment (EFE), Bayt.com and YouGov that provides insight into factors that inhibit or discourage young women from securing a first job. The recommendations are based on a survey of over 2,300 young women and employers across the Middle East and North Africa region (MENA) and complement existing research on women’s labor force participation in the region.
In your pursuit of positioning the workforce to sky-high leadership profiles & laying the groundwork to fight the uncertainties in the technological & economic environments, this wisely written whitepaper should prove to be your rock-solid support.
Etude PwC sur les femmes de la génération Y (mars 2015)PwC France
http://bit.ly/PwC-Female-Millennial A l’occasion de la Journée internationale de la femme le 8 mars prochain, le cabinet d’audit et de conseil PwC publie son étude « The female millennial : A new era of talent » qui chasse les idées reçues sur les femmes au travail. PwC a interrogé 8 756 femmes et 1 349 hommes appartenant à la génération Y (nés entre 1980 et 1995), issus de 75 pays, afin de révéler leur perception du monde du travail en général et de leur carrière en particulier.
The document discusses two global crises - high youth unemployment and a shortage of skilled workers. It analyzes data from surveys of over 8,000 youth, education providers, and employers across nine countries to understand the problems in moving young people from education to employment. The findings reveal significant disconnects between these stakeholders' views, a lack of effective communication between employers and education providers, and that youth are often poorly informed about career options and the skills needed for available jobs.
This report suggests that the number of young entrepreneurs in the UK could rise significantly. It finds that 30% of young people believe they will be self-employed in the future, and 25% expect to be their own boss within five years. While only 5% of young people are currently self-employed, many see it as an alternative in a tough job market. Barriers include lack of funding and support, but new technologies are making it easier to start online businesses with minimal costs. The report concludes that with the right support from organizations like The Prince's Trust, more young people may overcome challenges to become entrepreneurs and help boost the UK economy.
Education to employment getting europes youth into workFranco Ferrario
Youth unemployment in Europe remains high, with over 5.6 million young people unemployed across the EU. While young people want to work, over half say they cannot find jobs, and businesses struggle to find applicants with the right skills. The authors conducted research in 8 European countries and identified 3 main hurdles young people face: 1) the cost of education, lack of information on options, and bias against vocational education; 2) not learning sufficient general skills; and 3) difficulty transitioning to work after education. Only 10% of youth have successful pathways from education to employment, while 79% lack support and are unhappy with their prospects. Employers also face challenges, with less than half satisfied with workforce skills levels.
The Rockefeller Foundation's Digital Jobs Africa initiative aims to impact 1 million lives in six African countries by 2023. It will create sustainable digital employment opportunities for youth through impact sourcing, leveraging demand from companies for digital work, and exploring new digital jobs. The initiative will train youth in skills like data entry and digital literacy to prepare them for these jobs. It will also work to coordinate governments and businesses to continue supporting digital jobs beyond the initiative. The goal is for youth to gain skills and stable employment, improving their lives and communities through greater social and economic participation and resilience.
How can airlines improve the customer experience, revive brand loyalty and undo the effects of years of cost-cutting?
Read more and watch videos>> http://bit.ly/FoAT
The global economy is a complex web of business relationships that no company can navigate alone. Whether it is through outsourcing, partnership or simple supplier-customer interactions, all businesses are reliant on the relationships they have with their peers.
It stands to reason, then, that perfecting collaboration with one’s trading partners is a key success factor in business. But how can companies maximise the value of their trading partner relationships, and how can they mitigate the risks?
A survey released by The Economist Intelligence Unit (EIU) shows that 90% of business leaders believe they can help prepare cities for the effects of climate change, with 51% saying that investing in climate change resilience gives them a competitive edge.
The dovetailing of potentially devastating climate change impacts and urbanization by mid-century is of great concern to municipal leaders. The portion of the world living in cities is slated to rise to two-thirds of the global population (or 6.4 billion), up from 54% today, according to the United Nations. In tandem, the frequency and severity of floods, storms and drought as a result of climate change are expected to rise significantly in the coming decades, particularly in coastal areas, where many large cities are located. Forging preparative responses for these changes has thus taken on a new sense of urgency for government officials, non-governmental organizations and business leaders.
For business, the executive survey, supported by the Rockefeller Foundation, finds that the biggest perceived market and operational risk from climate change is the disruption of energy supplies, which could severely impact on a company’s ability to operate.
Why manufacturing robots are getting smarter. This infographic explores the market forces creating demand for more agile robots and asks what this means for human beings...
In July 2014, experts from public, private and research sectors met at the Rockefeller Foundation's "Planetary Health" summit to explore ways to better value ecosystems today to ensure their healthy existence tomorrow.
The document provides an economic forecast summary for May 2012 from a global forecasting service. It raises its forecast for 2012 US GDP growth to 2.2% from 1.9% due to reasonably strong economic figures, though job growth slowed in March. The eurozone debt crisis returned as ECB liquidity injections faded, sending bond yields soaring in Spain and Italy. The forecast expects eurozone GDP to contract by 0.7% in 2012, with Germany faring best and Greece, Portugal, and Spain faring worst.
Institutional investors have varied views on China’s financial liberalisation, but nowhere are opinions more sharply divided than between those headquartered in mainland China and those based elsewhere. This Economist Intelligence Unit report seeks to examine these differences and the effect on how people expect liberalisation to proceed.
This document summarizes research on inspiring youth enterprise. It profiles three young entrepreneurs - Jason Gibbs who founded a university comparison website, Irina Alionte who started fitness events in nightclubs, and Emma Agese who created a natural hair product line. The entrepreneurs overcame challenges through determination, mentors, and tapping resources like start-up loans. Youth face barriers to entrepreneurship like lack of business knowledge and fear of failure. The report advocates for enterprise education that teaches practical skills over theory and spotlights real businesses. It concludes with recommendations to support young entrepreneurs.
Youth Entrepreneurship: Opportunities and Challenges in Indiaiosrjce
This paper focuses and provides an insight into the current scenario of today’s engineering
graduates; the careers opted by various engineering students, either jobs or higher education. The role of these
young and dynamic students with potential in entrepreneurship is been focused and given a broader aspect.
Attention is also given on the current challenges that are faced by the young entrepreneurs and what
opportunities lay for them in entrepreneurship. Some suggestions on possible roles of government, educational
and financial institutes are also listed. Along with this, a case study on Aspiring Young Entrepreneurs is
discussed where undergraduate students of Walchand College of Engineering, Sangli mutually endeavor to gain
entrepreneurial skills collectively.
The document provides information about the Business Education & Entrepreneurial Skills Training (BEST) program run by Save the Children in Mongolia. The BEST program aims to empower Mongolian youth through hands-on business and entrepreneurship education. It will introduce an innovative after-school program teaching these skills to 14-17 year olds. The program seeks to address Mongolia's lack of entrepreneurship education and high youth unemployment by developing students' business mindsets and helping them explore career options. It plans to partner with schools, universities, donors and businesses to establish this comprehensive training initiative.
Power of the knowledge of management techniques on productivity among indigen...Alexander Decker
This document summarizes a study on the power of knowledge of management techniques on productivity among indigenous entrepreneurs in Nigeria. It begins by providing background on the importance of management techniques and productivity for business success. It then states the problem as many Nigerian entrepreneurs lacking knowledge of basic managerial concepts and focusing too much on self-employment. The study aimed to determine the effect of management knowledge on productivity, surveying 300 entrepreneurs in Aba, Nigeria. It hypothesized that management techniques significantly affect productivity. The literature review discussed factors influencing managerial effectiveness and productivity. The document concludes that understanding management techniques is crucial for enterprise success in today's business environment.
Successful young entrepreneurial innovators have achieved something akin to rockstar status. They grace magazine covers and keynote global conferences, inspiring burgeoning
start-ups and Fortune 50 companies alike.
Collectively, young entrepreneurs are innovative by nature and their thinking is an important source of growth and job creation across the world. Today, with digital tools in hand, leaders are better positioned to expand their businesses across borders, seize niche opportunities and shape the global economic future.
Yet, most of today’s young entrepreneurs want more than status and a global corporate footprint. Their ideas of success arise from powerful social, political and economic convictions.
To find out what really makes young innovators tick, The Economist Intelligence Unit, sponsored by FedEx, surveyed more than 500 of these young entrepreneurs around the globe about their motivations, ideals and priorities. Our survey respondents were between 25 and 50 years of age and all founders, owners or partners of firms with fewer than 500 employees. They are living in North America, Europe, Middle
East, India and Africa, Asia-Pacific, and Latin America. We surveyed them on matters of globalization, technology and social values.
We then compared their views with a similar survey of the general public in the same regions. Side by side, these surveys enabled us to differentiate the outlooks of today’s young and innovative entrepreneurs.
Our surveys identified four key mindsets that guide young entrepreneurs: leading with passion; thinking globally; embracing social responsibility; and banking on connectivity. This report explores the similarities and divergences of today’s young entrepreneurs and the general public. It seeks insights into the elements of the business environment that matter most to entrepreneurs, as well as their views on a variety of issues including free trade and social responsibility.
The purpose of this research is to find out the contribution of Public relations to a
successful startup business. The main objective of this research paper is to explore how the startup
entrepreneurs in the UAE has identified the opportunities using public relations (PR) communication, to
promote positive attitudes and behaviors towards the business. The study also attempts to create awareness
among entrepreneurs in using the PR tools to build the business's reputation as an essential ingredient for the
success of the business.
THE SMARTEST INVESTMENT: A FRAMEWORK FOR BUSINESS ENGAGEMENT IN EDUCATIONUNICEF Education
The document provides a framework for business engagement in education developed by UNESCO, UNICEF, the UN Global Compact and the UN Special Envoy for Global Education. It outlines a three-part process for businesses to engage in education in a way that benefits both education goals and business objectives. The process involves making a business case for engagement, identifying suitable engagement activities, and applying best practices to ensure responsible and effective engagement. The document provides examples of business drivers for engagement and potential engagement activities that address issues like innovation, risks, reputation, employees and future workforce development.
This study assessed the entrepreneurial propensity of Nigerian university students by examining their involvement in and interest towards entrepreneurship. The researchers surveyed penultimate and final year undergraduates at the University of Ibadan using a questionnaire. The results showed that 90.8% of students were interested in starting their own business, with one in five already involved in a business while in school. Students' current entrepreneurial involvement was correlated with their marital status, father's income, having taken an entrepreneurship course, and concern for risk. Their interest in future entrepreneurship was correlated with having a close relative who was an entrepreneur and taking an entrepreneurship course. The researchers concluded that entrepreneurship training could stimulate students' interest, but actual
The smartest investment: a framework for business engagement in educationSustainable Brands
This document introduces a framework for business engagement in education created by UNESCO, UNICEF, the UN Global Compact, and the UN Special Envoy for Global Education. The framework provides guidance for companies to develop education activities that benefit both society and business. It outlines a three-part process for engagement: 1) Make a business case for how education activities align with business goals, 2) Identify specific activities, and 3) Ensure activities are implemented responsibly according to best practices. Some key recommendations include respecting education as a human right, promoting equity, partnering with experts, having measurable goals, aligning with government priorities, and designing sustainable programs. The framework aims to increase collaboration between businesses and education to accelerate
The document discusses challenges faced by family businesses in transitioning from one generation to the next. It summarizes findings from PwC surveys on this topic. There is often a significant "generation gap" between current leadership and the next generation taking over, made worse by today's rapid pace of change. While many next generations have ambitions to change and grow the business, they face credibility gaps in proving themselves. The survey highlights gaps in communication, succession planning, and preparing the next generation for leadership roles.
Operation KEYS provides financial literacy and entrepreneurship education resources to help at-risk youth. Their curriculum teaches money management, business, and leadership skills through hands-on lessons and activities. This aims to increase students' economic literacy, self-esteem, and academic performance while reducing risky behaviors. Operation KEYS also seeks mentors to support students and offers multi-week programs on topics like money skills, entrepreneurship, and management training to inspire and prepare youth for future success.
This document summarizes the key findings of a study on workforce preparedness among millennials commissioned by Bentley University. The study surveyed over 3,100 people from various stakeholder groups. It found both agreement and discrepancies in how preparedness is defined. While most see a college degree as valuable, there are misperceptions about its guarantee of success. Recent college graduates demonstrate self-awareness by grading their own preparedness critically. While stakeholders generally grade recent graduates' preparedness poorly, parents view their own children more positively. The lack of preparedness is seen as a real problem impacting individuals, businesses, and the economy.
The document discusses financial literacy and workplace education. It notes that while many employers offer investment advice to employees, utilization rates are low at less than 10% of eligible participants. Employees need and want financial education, with fewer than 1 in 3 Americans confident about their financial knowledge. Recent studies show that financial education classes can make a significant difference by changing employee behaviors like increasing savings rates and investing in stocks. These improved behaviors benefit employers through less absenteeism, higher productivity and other factors.
This document discusses research conducted by PwC on female millennials. Some of the key findings include:
- Female millennials, born between 1980-1995, make up a large portion of the current and future workforce. They are more educated than previous generations and entering the workforce in larger numbers.
- Female millennials are more confident in their career progression than previous generations of women. However, a confidence gap still exists compared to male millennials.
- Opportunities for career progression is the most attractive employer trait and top reason female millennials have left employers.
- Flexible work arrangements and work-life balance are very important to female millennials. Employers will need to adapt practices to attract and
The female millennial: A new era of talentPlanimedia
This report aims to provide some insight
into the minds of female millennials and
how to position your organisation and
talent strategies towards the attraction,
retention, engagement and development
of this significant talent pool.
The female-millenial-a-new-era-of-talentPwC España
Las mujeres millennials, entre los 20 y los 30 años, creen que, todavía, las oportunidades que les ofrecen las empresas no son las mismas que para los hombres de su generación
This document discusses a study on millennials (born between 1980-2000) entering the workforce. Some key findings:
- Millennials will make up half the global workforce by 2020 and attracting them is critical for businesses.
- Millennials have high expectations for career progression, work-life balance, flexibility, and development opportunities that differ from previous generations.
- Many millennials feel they compromised to get their current jobs and nearly half are open to new opportunities, suggesting lower loyalty than previous cohorts.
SEI Report 2019 - School of Entrepreneurship and Innovation ItalyAndrea Griva
Facts, programmes and learnings from the first full year of activity of the School of Entrepreneurship and Innovation (Turin, Italy).
The School is a non-profit organization whose aim is to give everyone the opportunity to be an entrepreneur in Italy. SEI was started in March 2018 as a joint initiative of Agnelli Foundation with several partners such as Chamber of Commerce of Turin, Collège des Ingénieurs Italia, Club degli Investitori, Politecnico of Turin, UniCredit, Gruppo Giovani Imprenditori dell’Unione Industriale di Torino and University of Turin.
SEI runs four entrepreneurship programs for university and high school students who have the potential to become entrepreneurs. The students are pushed to explore their entrepreneurial aptitude through action learning activities aimed at generating business ideas. We implement our programs with the support of a qualified network of international mentors, entrepreneurs and companies from all sectors
This report examines methods for developing young workers aged 16-24 in the workplace. It explores what skills they have when entering the workforce and the most effective development approaches. The CIPD studied 5 case organizations that offer programs for young people like apprenticeships and graduate schemes. The research aims to help organizations understand how to develop their future workforce and drive business performance through training investment. It provides examples of effective practices and addresses common challenges.
The document discusses identifying opportunities through observing trends in the external environment. It identifies the main trends as economic forces, social forces, technological advances, and political/regulatory changes. These trends suggest gaps in the market where new business opportunities may exist. Examples of trends discussed include the aging population and focus on health/wellness creating opportunities in healthcare, and busy lifestyles fueling demand for fast food and services that save time. Entrepreneurs are advised to monitor trends to recognize windows where opportunities align with customer needs and pain points.
Decades of economic growth and development along with better governance and nutrition-specific programmes had lifted hundreds of millions of people in Asia out of poverty, as well as starvation and malnutrition. However, due to the uneven development, while a large segment of Asian's population had changed their eating habits to over-nutrition diets and worrying about lifestyle diseases like diabetes, cancer and heart diseases, there are still some countries and regions suffering from lack of nutrition. For example, childhood malnutrition and stunting is still prevalent in South Asia, one Indian survey found that 21% of children suffer wasting, and a further 7.5% of children suffer it severely.
For more details, please visit: https://eiuperspectives.economist.com/sustainability/fixing-asias-food-system/white-paper/food-thought-eating-better?utm_source=OrganicSocial&utm_medium=Slideshare&utm_campaign=Amundi&utm_content=Slideshare_whitepaper
The report examines the opportunities and challenges for digital platforms and services in ASEAN countries. It finds that while countries like Singapore have created an accommodating regulatory environment, other ASEAN nations can provide major opportunities due to their large populations but also present regulatory barriers. Digital platforms can help stimulate economic growth, but data localization policies and unclear privacy rules hinder their potential. Public-private cooperation is seen as key to overcoming issues and maximizing the benefits of digital transformation.
The world’s top 100 asset owners (AOs) represent about US$19trn in assets under management. The largest, and potentially most influential, proportion is in Asia—more than a third of the total. Out of the top 20 largest funds, three out of the first five and nearly half of the total are in Asia.
For more insights, please visit: https://eiuperspectives.economist.com/sustainability/sustainable-and-actionable-study-asset-owner-priorities-esg-investing-asia?utm_source=OrganicSocial&utm_medium=Slideshare&utm_campaign=Amundi&utm_content=Slideshare_whitepaper
Internet connectivity has proven to be one of the most profound enablers of social change and economic growth of our time. Beginning with fixed narrowband internet connections and moving through successive generations of increasingly pervasive and powerful networks, connectivity has come to underpin our working and personal lives, empowering businesses to operate more efficiently and with wider reach. In turn, connectivity has sparked and fuelled countless new industries, products and services that are coming to define our modern age. Connectivity has proven to be a vital ingredient for business success.
This report examines the burden of lung cancer in Latin America and how well countries in the region are addressing the challenge. Its particular focus is on 12 countries in Central and South America, chosen for various factors including size and level of economic development: Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Panama, Paraguay, Peru and Uruguay.
In the cyber world, many are attacked but not all are victims. Some organisations emerge stronger. The most cyber-resilient organisations can respond to an incident, fix the vulnerabilities and apply the lessons to strategies for the future. A key element of their resilience is governance, a task that falls to the board of directors.
To learn more about the challenges of governing a cyber-resilient organisation, The Economist Intelligence Unit (EIU) conducted a global survey, sponsored by Willis Towers Watson, of 452 large-company board members, C-suite executives and directors with responsibility for cyber-resilience.
Among the findings:
-In the past year, a third of the companies surveyed experienced a serious cyber-incident — one that disrupted operations, impaired financials and damaged reputations — and most placed high odds on another one in the next 12 months.
-Many companies lack confidence in their ability to source talent and develop a cyber-savvy workforce.
-Executives cite the size of the financial and reputational risk as the most important reason for board oversight.
Artificial intelligence (AI) will profoundly affect the ways in which businesses and governments engage with consumers and citizens alike. From advances in genetic diagnostics to industrial automation, these widespread changes will have significant economic, social and civic implications. As such, Intelligent Economies explores the transformative potential of AI on markets and societies across the developed and developing worlds.
This report, developed by The Economist Intelligence Unit and sponsored by Microsoft, draws on a survey of more than 400 senior executives working in various industries, including financial services, healthcare and life sciences, manufacturing,
retail and the public sector. Survey respondents operate in eight markets: France, Germany, Mexico, Poland, South Africa, Thailand, the UK and the US.
As businesses generate and manage vast amounts of data, companies have more opportunities to gather data, incorporate insights into business strategy and continuously expand access to data across the organisation. Doing so effectively—leveraging data for strategic objectives—is often easier said
than done, however. This report, Transforming data into action: the business outlook for data governance, explores the business contributions of data governance at organisations globally and across industries, the challenges faced in creating useful data governance policies and the opportunities to improve such programmes.
It wasn’t long ago that a work meeting meant gathering around a table to discuss an agenda. These days you may be using Slack, Hangouts or other digital collaboration platforms that blend messaging with video and allow real-time editing of
documents. Even with these tools, communication at work can still break down, potentially endangering careers, creating stressful work environments and slowing growth.
A survey from The Economist Intelligence Unit and sponsored by Lucidchart reveals some of the perceived causes and effects of these communication breakdowns. The survey, conducted from November 2017 to January 2018, included 403 senior executives, managers and junior staff at US companies divided equally and from companies with annual revenue of less than
US$10m, between US$10m and US$1bn and more than US$1bn. The survey research provides insights about what employees see as the biggest barriers to workplace communication, the causes of the barriers and their impact on work life. Complete survey results are included at the end of
this report.
Education systems across the world are grappling with the challenge of preparing their students for the rapid changes they will experience during their lifetimes. To this end, schools have a critical role in equipping students with the requisite skills and
competencies that will be in demand, particularly as digital technologies such as artificial intelligence (AI) increasingly transform businesses and influence economies. In this report, The Economist Intelligence Unit (EIU) discusses the results of a study that explores how to best prepare primary and
secondary school (referred to in this report as “K-12”) students for the 21st century workplace (“the modern workplace”), where
a mix of hard and soft skills are crucial for success. The research, sponsored by Google for Education, draws on a survey of 1,200 educators in 16 countries.1 It looks at the
strategies most effective in developing 21st century skills and how technology can support such efforts.
Gone are the days when marketing chiefs focused solely on the classic 4Ps: Product, Price, Promotions and Place - they now must take an integrated approach to drive company goals.
Corporate and shareholder sentiment towards MA has rebounded since the dark days of 2008. Low borrowing costs have coaxed many new buyers, including acquisitive Chinese conglomerates, into the market. The prices of prized assets have risen accordingly. It remains a sellers market in technology-driven deals, particularly in the consumer-goods, financial services, and media and telecommunications sectors.
Corporate treasury is now a top target for cyber-criminals. Treasury’s trove of personal and corporate data, its authority to make payments and move large amounts of cash quickly, and its often complicated structure make it an appealing choice for discerning fraudsters.
This document discusses cyber risks faced by corporate treasury departments. It finds that treasuries are prime targets for cyber criminals due to the large amounts of money they handle and authorize payments for. Sophisticated hackers use social engineering and inside information to execute scams like business email compromise, where they impersonate senior executives and trick treasury staff into making fraudulent payments. While companies are taking basic security measures, the research found gaps in defenses against third party risks. Nineteen percent do not verify identity authentication methods for suppliers and 14% do not extend security rules to subcontractors. Treasury departments can help by ensuring third parties are properly secured despite not being directly responsible for technical security.
In a low-yield environment, many Asia-Pacific investors are more actively monitoring their portfolios and willing to increase turnover and shift asset allocations in search of higher returns. However, they proceed cautiously with shorter time horizons due to fears of increased market volatility. Equities, new products, and diversifying across markets are seen as potential sources of returns and ways to mitigate risks. The survey also found that regulations are driving some investors to reallocate assets and take a more active approach to portfolio management, despite increased risk.
Asia-Pacific institutional investors are struggling to balance long-term liabilities with the need to secure yield in a world where it is increasingly scarce. They are also in the world’s fastest-growing region that has no shortage of volatility. How are they achieving returns while managing risks?
How are institutional investors in North America adapting to increasingly complex risks? Are these risks driving investors to make portfolio changes based on short-term goals or are they making tactical moves to stay focused on long-term objectives?
Political risks and the search for yield are pushing some North American institutional investors toward more tactical decisions. Investors are focused on reallocating to equities and using alternative investments to mitigate risks.
How are EMEA investors responding to changing macroeconomic and regulatory environments, stakeholder objectives and pressures, and market conditions? Based on a survey of 200 institutional investors in the region, this report takes a detailed look.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
How to Implement a Strategy: Transform Your Strategy with BSC Designer's Comp...Aleksey Savkin
The Strategy Implementation System offers a structured approach to translating stakeholder needs into actionable strategies using high-level and low-level scorecards. It involves stakeholder analysis, strategy decomposition, adoption of strategic frameworks like Balanced Scorecard or OKR, and alignment of goals, initiatives, and KPIs.
Key Components:
- Stakeholder Analysis
- Strategy Decomposition
- Adoption of Business Frameworks
- Goal Setting
- Initiatives and Action Plans
- KPIs and Performance Metrics
- Learning and Adaptation
- Alignment and Cascading of Scorecards
Benefits:
- Systematic strategy formulation and execution.
- Framework flexibility and automation.
- Enhanced alignment and strategic focus across the organization.
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How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
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popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
color choices.”
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
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[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
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3. Contents
About the research 02-03
Executive summary 04-05
The challenge of supporting entrepreneurship 06-09
How existing businesses can help create entrepreneurs 10-11
Formal education and entrepreneurship: 12-15
a glass half-full
Making education entrepreneurial 16-17
Case Study: The National Centre for Entrepreneurship 18
in Education: Getting the culture right
Conclusion: A more entrepreneurial 20
society’s wider benefits
4. Helping entrepreneurs flourish: Rethinking the drivers of entrepreneurship
02
About the research
This report investigates the
complex issue of encouraging
entrepreneurship, and in particular
the contribution that education and
business can and should make
towards achieving that goal. To shed
light on these topics and compare
the perspectives of potential and
established entrepreneurs, the EIU
conducted two global surveys. For
the first survey we contacted 420
individuals aged 18 to 25, mostly
students and recent graduates.
Of these, 31 per cent are from the
Asia-Pacific region, 30 per cent
from Europe, 29 per cent from North
America, and the remainder from
the Middle East, Africa and Latin
America. The 200 respondents to
the second survey are entrepreneurs
aged between 18 and 69, with an
average age of 44. The geographical
spread is similar, with 30 per cent
each from Europe, North America
and the Asia-Pacific region, and the
rest from the Middle East and Africa.
Helping entrepreneurs flourish: Rethinking the drivers
of entrepreneurship is a UK Trade & Investment (UKTI)
report, written by The Economist Intelligence Unit (EIU).
In addition, the EIU conducted
seven interviews with entrepreneurs
and other experts in the field as well
as substantial desk research. Our
thanks are due to the following for
their time and insight:
• Nicolas Brusson, co-founder
and COO, BlaBlaCar
• David Frost, executive
chairman, National Centre for
Entrepreneurship in Education
• David Gorodyansky, co-founder
and CEO, AnchorFree
• Rob Law, founder and CEO, Trunki
• Kiran Mazumdar-Shaw, founder
and CEO, Biocon
• Narayana Murthy, founder and
executive chairman, Infosys
• Professor Yong Zhao, University
of Oregon
The report was written by
Dr Paul Kielstra and edited by
Zoe Tabary and Victoria van Lennep.
29% 30%
6. Helping entrepreneurs flourish: Rethinking the drivers of entrepreneurship
04
Many would-be entrepreneurs,
however, will fall by the wayside.
Although entrepreneurship
inevitably involves difficulties and
a large number of failures, too
often their efforts are hampered by
unnecessary barriers.
This report looks at how to foster
an entrepreneurial mindset both
through education systems and
business experience, and what
makes entrepreneurs thrive. Drawing
on seven in-depth interviews of
entrepreneurs and other experts,
substantial desk research and
two surveys – one of established
entrepreneurs and another of young
people aged 18 to 25 – its key
findings include the following.
Entrepreneurship is a highly attractive
job option for young people.
In the global survey of young people,
30 per cent say that their preferred
occupation by 2020 would be running
their own business – the most
common choice for that question.
More generally, 75 per cent are open
to starting a company one day, and
a further 7 per cent have already
done so. A significant proportion
of student respondents look to
running one’s own business as
a source of personal satisfaction
in their work (37 per cent) and a
way to create something new /
innovative (35 per cent). Part of this
willingness or desire to become an
entrepreneur, however, may be a lack
of understanding of the difficulties:
over half (57 per cent) of respondents
running their own business say that
aspiring entrepreneurs underestimate
how hard it will be.
Executive summary
The roughly 10 per cent of the world’s adults who are entrepreneurs have,
for some time, been recognised as significant drivers of economic growth.
In a world where numerous countries are struggling to tame unemployment,
their potential as job creators will make them all the more important.
A significant
proportion of student
respondents look to
running one’s own
business as a source of
personal satisfaction
in their work.
7. www.gov.uk/ukti
05
Education has some positive influence
on entrepreneurial success, but this
is currently limited.
Those surveyed for this report have
seemingly contradictory views
about the role of education in their
development. Among entrepreneurs,
for example, 79 per cent say their
university education aided them to
start their own business. However,
very few cite their primary and
secondary schooling as a top
influence in helping them launch their
business. Similarly, nearly half of
the 18-25-year-olds surveyed think
an academic degree is important
to entrepreneurial success (with
that share rising to two-thirds in
North America), but just 19 per cent
say their university is effective at
giving students the skills they need
to start a business. Successful
entrepreneurs, then, can make use
of education, but traditional teaching
methods risk undermining attitudes
conducive to entrepreneurship.
Entrepreneur-friendly education
requires a shift not only in how
schools and universities teach,
but also in what they teach.
Experts interviewed for this report
recommend a greater focus on
problem-solving, communication
and networking skills. Rather than
just helping those who may one day
start a business at the expense of
the rest of society, these so-called
21st-century skills are increasingly
being promoted within educational
circles and by business as beneficial
for all students.
Existing entrepreneurs are crucial
in developing aspiring ones through
mentorship and employment-based
learning.
Entrepreneurs believe that having
mentors who have built up their own
firms is vital for success. The growing
number of mentorship schemes is
testament to the value of such activity.
The inevitable constraints of running
a business can restrict the time
available for external mentoring. Even
more helpful, therefore, is running a
company in ways that instil and develop
entrepreneurship in employees:
81 per cent of entrepreneurs say that
they acquired more entrepreneurial
skills through work experience than
through education.
Personal qualities matter greatly for
success, but entrepreneurs are not
simply born.
Respondents from both surveys
for this report rank passion and
determination as the most important
attributes for entrepreneurial
success. Such qualities are difficult
or impossible to teach outright –
entrepreneurs certainly cannot be
manufactured to a template – which
helps to explain why those who have
started businesses are more likely
to say entrepreneurs are born rather
than made. On the other hand, those
interviewed for this study point to the
numerous other factors needed to
become successful. Policy choices
and the cultural environment can
clearly support entrepreneurship
by helping aspiring entrepreneurs
understand what they need to know
to avoid some of the many pitfalls of
starting a business.
www.gov.uk/ukti
Entrepreneurs believe
that having mentors
who have built up
their own firms is vital
for success.
8. Helping entrepreneurs flourish: Rethinking the drivers of entrepreneurship
06
The challenge of supporting
entrepreneurship
Although there are no further data
available, extrapolating by using
the surveyed states’ proportion of
global GDP yields a rough figure of
nearly half a billion entrepreneurs
worldwide, or over 10 per cent of
the adult population.
Any phenomenon of this size
is complex and multi-faceted,
but research in recent decades
has made several aspects clear,
not least entrepreneurship’s
substantial economic importance.
A comprehensive 2013 analysis of
World Bank data from 125 countries
over eight years is only the most
recent to find that entrepreneurship
levels have a significant positive
impact on GDP per head and
employment.1
Such figures have for
some time interested governments
in promoting this potentially
powerful engine of growth.
Entrepreneurship, even narrowly defined as the economic act of starting one’s
own business, is ubiquitous. In 2012 the Global Entrepreneurship Monitor
(GEM), a multinational academic research partnership, estimated that in the
54 countries its research then covered, 388 million people were either starting
new businesses or operating businesses they had recently launched.
Entrepreneurship is also global,
according to the World Bank’s most
recent report that ranks economies
on their ease of doing business. It
found New Zealand to be the easiest
place to start a small and medium-
sized enterprise, ahead of Canada,
Singapore, Australia and Hong Kong.
The US and the UK rank in 20th and
28th place, respectively.
Looking ahead, Professor Yong Zhao
of the University of Oregon, author
of World Class Learners: Educating
Creative and Entrepreneurial Students,
cites developments which make
further growth in entrepreneurship
absolutely essential: “We have a world
population growing very fast; a lot
of people are living longer, working
longer, and occupying more jobs;
we have huge youth unemployment
problems; and technology has
replaced a lot of low-level jobs.
The only thing that can help is more
entrepreneurs who can create jobs.”
Those looking to boost the number
of entrepreneurs have, potentially,
a highly receptive audience. In the
survey of 18-25-year-olds 30 per cent
say that their preferred occupation
by 2020 would be running their own
business – the most common choice
for that question, ahead of “working
in business”. Their sector of choice
would be technology (cited by
41 per cent of respondents), ahead
of media and entertainment
(24 per cent) and retailing
(19 per cent). The attractions
of entrepreneurship vary widely.
The most common is the desire for
financial independence which one’s
own business can bring (44 per cent),
but non-financial attractions such
as personal satisfaction in general
(37 per cent) and having an outlet for
one’s creative ideas (35 per cent) are
also important.
1: Douglas Cumming et al., “The Economic Impact of Entrepreneurship: Comparing International Datasets”,
manuscript December 31st 2013 (forthcoming) in Corporate Governance: An International Review.
9. www.gov.uk/ukti
07
In 2020, which of the following would be your preferred occupation? (18-25 Survey)
Work in business
28%
Source: The Economist Intelligence Unit 2014.
Run my own
business
(ie, become an
entrepreneur)
30%
Other
(please specify)
7%
Work in
government
14%
Work in a charitable
organisation
12%
Full time
parent/carer
3%
Don’t know/not
sure
6%
Source: The Economist Intelligence Unit 2014.
What has been, or would be, your main motivations for doing so? Select up to two. (18-25 Survey)
Financial
independence
44%
Personal
satisfaction in
my work
37%
Leaving a legacy
10%
Ability to be my
own boss
31%
Being able to
create something
new / innovative
35%
Making a positive
impact on others
22%
Other
(please specify)
1%
10. Helping entrepreneurs flourish: Rethinking the drivers of entrepreneurship
08
companies then were not willing
to hire a female brew master, the
profession for which she had trained.
The point is not to make a dubious
defence of the economic merits of
sexism, but to highlight the central
importance to entrepreneurship of
factors that policy can address often
only obliquely at best. In particular, the
role of personal qualities, especially
in the face of the inevitable adversity
of starting a company, has led to the
question of whether entrepreneurs
are born or made – a point on which
the 18-25-year-olds in the survey
are nearly evenly split and where
entrepreneurs are more likely to say
“born” (41 per cent to 26 per cent).
Entrepreneurs and experts
interviewed in-depth for this
study, though, are more nuanced
about this issue, pointing out that
circumstances and environment
can do much to affect degrees of
entrepreneurial success or failure.
Recent academic research, has
found that stronger property rights
protection correlates with higher
numbers of small entrepreneurs
being willing to grow their firms
into the larger companies which
produce employment.2
The issue
for those wishing to promote
entrepreneurship, then, is finding the
most effective interventions to create
an environment in which it is more
likely to thrive.
One area where change would be
particularly welcome is helping
potential and new entrepreneurs
become better informed about the
road they hope to travel. Failure is
endemic among new businesses:
in the UK and the US roughly half
of all start-ups fail within five years.
Part of this is inherent in what is
by its nature a risky activity, and it
is a valuable learning experience
that most entrepreneurs must
face. Nevertheless, finding ways
to reduce unnecessary failure has
clear benefits. Lack of preparation
or appreciation of what is involved in
starting a business is a widespread
problem. In the survey, 57 per cent
of entrepreneurs say that beginners
underestimate how hard it will be.
This, says Kiran Mazumdar-Shaw,
is symptomatic of a larger problem:
“Most entrepreneurs give up or fail
because they have not understood
what it takes.” David Gorodyansky,
co-founder and CEO of AnchorFree,
a US-based virtual private network
that allows users anonymous web
browsing, adds: “Everybody says
[that they want to be the next
famous entrepreneur], but nobody
realises what that actually means.
Entrepreneurship is not for everyone;
it should not be romanticised.”
Finding better ways to educate
potential entrepreneurs, both
before they start out and in the early
stages of their efforts, is therefore an
important potential focus for creating
an environment more conducive to
successful start-ups.
The nature of entrepreneurship,
however, makes its effective
promotion “a complex question”
in the words of Nicolas Brusson,
co-founder and COO of BlaBlaCar, a
service that connects people looking
for a ride with car owners. “We tend
in Europe to want to recreate Silicon
Valley, but it was never the result of
a mandate. It kind of just happened
because the environment was right:
it had the right mix of technology,
top universities, lawyers and
financial backers.”
The important role of individual
personality should also induce
wariness of seemingly easy answers.
Our survey of entrepreneurs found
that these individuals considered
passion to be the most important
attribute for success in starting a
business (cited by 50 per cent),
followed by determination and
creativity (both 46 per cent). Similarly,
young people put determination
(59 per cent) and passion (52 per
cent) as their first choices. Some
individuals may lose these qualities
as a result of bad experiences, but
as Rob Law, the founder and CEO of
Trunki, a maker of children’s luggage,
puts it: “You can’t teach passion.”
Moreover, barriers rather than
smooth pathways have more than
once resulted in the making of an
entrepreneur: Kiran Mazumdar-Shaw,
founder and CEO of Biocon, one of
India’s largest life-sciences custom
research companies, recalls that she
initially started a business because
2: Jonathan Levie and Erkko Autio, “Regulatory burden, rule of law, and entry of strategic entrepreneurs:
an international panel study”, Journal of Management Studies, September 2011.
11. 46%
www.gov.uk/ukti
09
Source: The Economist Intelligence Unit 2014.
What would you say are the most important attributes for a successful entrepreneur? Select up to three
18-25 Survey
Entrepreneurs Survey
52% 50%
Passion
59%
Determination
36% 29%
Imagination
12% 17%
Strong academic skills/
educational background
30% 19%
Strong soft skills
(leadership, networking, etc)
14% 34%
High appetite for risk
36% 46%
Creativity
38% 30%
Ability to accept failure/learn
from mistakes
20%7%
Self sacrifice
12. Helping entrepreneurs flourish: Rethinking the drivers of entrepreneurship
10
Young people seem to concur: the
most frequently mentioned change
they would like to see in education is
better contact with the professional
world (47 per cent). This is not simply
about providing contacts who might
offer work: having a network and the
skills of knowing how one uses it are
critical to entrepreneurial success.
“Because they understand the need
for such support”, says David Frost,
who earlier in his career led the UK
Chamber of Commerce for a decade,
“in my experience, entrepreneurs are
willing to help out.” If anything, more
are getting involved. A recent Ernst
Young survey on entrepreneurship
in G20 countries found that the
availability of mentorship has even
been increasing in the last three
years.3
The practice has also gone
far beyond one-on-one help – which
remains common – to encompass
almost innumerable government-
supported and private schemes to
link those in need of advice with more
established businesspeople.
Looking back, substantial majorities
of those surveyed in this group wish
that they had had better access to
other entrepreneurs (selected by
64 per cent), others who could have
provided support (62 per cent),
and incubators or accelerators that
could have provided information and
guidance (71 per cent).
Indeed, it is difficult to overstate the
value of mentorship, especially for
new entrepreneurs. Rob Law says:
“It is vitally important to be able to
bounce ideas off people who have
been through similar experiences.
When I first started, I was mentored
through the Prince’s Trust [a UK-
based youth charity], and it helped
me find out what I wanted to do very
quickly, rather than just chasing my
tail.” David Gorodyansky similarly
recalls: “When I started AnchorFree,
I had no experience and I didn’t
know what I was doing. I just
knew I wanted to help the world
and impact a billion people. I got
a lot of mentorship and help from
many entrepreneurs.” This included
support from board members
of his company, which greatly
contributed to the firm’s success.
These can reach substantial scale
and sophistication. For example,
the recently launched National
Entrepreneurship Network Mentor
Platform of India’s Wadhwani
Foundation – an NGO which supports
entrepreneurship education in a wide
variety of forms – brings together
new and aspiring entrepreneurs from
across India with individuals from
its pool of 1,200 mentors who can
provide specific, detailed advice in
one-on-one or small group settings.
For many entrepreneurs, such activity
is about giving back. It also has
advantages, however, helping to
extend the networks on which even
mature entrepreneurs continue to
rely for success. The difficulty, says
Narayana Murthy, is usually time:
“Until I retired, I was busy ten hours
a day, six days a week, and did not
have time to mentor many people
until then.” Similarly, Kiran Mazumdar-
Shaw says that she has mentored a
few entrepreneurs and played a role in
about a dozen start-ups but, inevitably
“one’s bandwidth is limited”.
How existing businesses can help
create entrepreneurs
According to entrepreneurs looking back, the most valuable help was often
practical advice at the point of need from people who have been there before.
3: The EY G20 Entrepreneurship Barometer 2013.
13. www.gov.uk/ukti
11
Therefore, a potentially even more
important contribution to the
entrepreneurial environment is how
businesses approach recruitment
and employment. Although
entrepreneurs are typically young,
at least some time working for
others is normally a key part of their
development. Of entrepreneurs
surveyed, 81 per cent say that
they acquired more entrepreneurial
skills through work experience than
education, and 70 per cent say
that having corporate experience
before becoming an entrepreneur is
preferable. That share is highest in
North America, with 78 per cent of
entrepreneurs advocating corporate
experience, compared with 57 per
cent and 67 per cent respectively
in Asia-Pacific and Western Europe.
Making entrepreneurship a part of
one’s own company culture can
therefore be a way of cultivating future
entrepreneurs. According to Nicolas
Brusson, for example, 80 per cent of
what is done [at BlaBlaCar] is based
on those patterns he observed in
earlier ventures. Now his company,
when recruiting, “selects people who
have an affinity for entrepreneurship,”
including a large number who had
already started their own companies
in the past. He describes the results
as “challenging but great”, with much
higher employee engagement and
ability to act autonomously. Not only
does this approach bring business
benefits, but the impact of an
entrepreneurial environment in which
to learn on the job can be profound.
The PayPal Mafia – a group of
individuals who worked with the
online payments business PayPal
when it was a start-up – have
famously gone on after leaving
to found a variety of companies,
including LinkedIn, Yelp and YouTube.
Business is a competitive world, but
an environment that is conducive
to entrepreneurship relies on those
who have gone before helping
new aspirants. Rather than an act
of altruism, however, such activity
brings existing entrepreneurs stronger
networks and potentially better
companies of their own.
Having corporate experience before becoming an entrepreneur is preferable (Entrepreneurs Survey)
70% Agree
19% Neither agree
nor disagree
11% Disagree
Source: The Economist Intelligence Unit 2014.
14. Helping entrepreneurs flourish: Rethinking the drivers of entrepreneurship
12
On the question of education, Kiran
Mazumdar-Shaw says: “I had a
very technically grounded higher
education. All that I do today has
been leveraged from that foundation.”
David Gorodyansky, by contrast,
who studied business, believes
that “nothing in my educational
background helped me start
AnchorFree.” These diametrically
opposed experiences may reflect
differences in personal histories,
but they are also emblematic of the
often hit-and-miss relationship that
currently exists between education
and entrepreneurship.
Our survey indicates that, on the
one hand, numerous entrepreneurs
have derived benefits from their
tertiary education: 79 per cent of
entrepreneurs say that it aided
them to start their own business –
a slightly higher figure than those
citing earlier professional experience
as a help (78 per cent). Many young
people are certainly hoping for
benefits as well: 49 per cent say that
an academic degree is important to
entrepreneurial success, and only
19 per cent disagree. Academic
research backs this up: a study
covering 20 years of American data
found a significant link between longer
time spent in education and average
income for entrepreneurs.4
However, 18-25-year-olds and
entrepreneurs are far from believing
that universities are delivering all
that they could. Only 19 per cent
of young people say their university
is very effective at giving the
academic knowledge needed
to start a business. Meanwhile,
78 per cent of those who have
started companies say education
systems need to give more support
to potential entrepreneurs.
What helps explain these
somewhat contradictory results
is that the benefits of education –
especially tertiary education – for
entrepreneurs tend to be indirect
rather than direct. Narayana Murthy,
founder and executive chairman of
Infosys, a provider of information
services and now India’s sixth-
largest publicly traded company,
notes that academic success gave
him the ability to work with, and
the confidence to compete with,
highly educated individuals. His
technical training further instilled
in him an appreciation of the value
of feedback and of simulation
exercises. These are not specific
business skills, but they were
essential to his company’s success.
Nicolas Brusson recalls that, when
he worked as a venture capitalist,
an analysis of his firm’s investments
showed that, while it did not actively
seek out entrepreneurs with an
impressive educational background,
most of the founders and CEOs of
companies in which it put money
had degrees from the top five to
ten universities in the country. In
that sense, he says, educational
achievement “matters, but it is not
the trigger” for success or attracting
investment. In fact, only 10 per cent
of entrepreneurs in the survey cite
having an academic degree as a key
requirement for investors.
Unfortunately, all too often these
indirect benefits from formal
education are accompanied by
elements which impede attitudes
conducive to starting a business.
Formaleducationandentrepreneurship:
a glass half-full
Another obvious potential source for the promotion of entrepreneurship
is the education system. Here, though, the results are mixed.
4: Mirjam van Praag et al., “Returns for Entrepreneurs vs. Employees: The Effect of Education and Personal Control
on the Relative Performance of Entrepreneurs vs. Wage Employees”, Forschungsinstitut zur Zukunft der Arbeit,
Discussion Paper 4628, December 2009.
Entrepreneurship
education has grown
rapidly in recent
decades in many parts
of the globe.
15. www.gov.uk/ukti
13
Professor Yong Zhao explains:
“In traditional education, success
requires a different set of skills
than those needed for being an
entrepreneur.” An emphasis on the
acquisition of a specific body of
knowledge and the ability to get a
right answer, rather than on solving
problems in new ways, creates a
mindset appropriate for an employee,
he believes. More important still, he
says: “Traditional education does
not encourage failure. We want
straight-A students all the time. We
don’t reward people,” when they take
risks but fail. Narayana Murthy also
thinks that in practice an advanced
formal education is not necessary
for entrepreneurship. Although it
gives “the ability to do more and
more and deeper and deeper
analysis, entrepreneurship is all about
synthesising solutions and walking the
road less or untravelled.” Education
systems are attempting to respond.
Entrepreneurship education has
grown rapidly in recent decades in
many parts of the globe, so that now
45 per cent of 18-25-year-olds in our
survey report that their universities
offer some form of entrepreneurship
education, a figure which varies little
by geography.
Providing academic content
relevant to entrepreneurs in
traditional courses holds out some
benefits. What most of those who
set up their own business wish
they had had when starting out, for
example, is better financial advice
(53 per cent), something which
could form an element of such a
course. That proportion rises to
63 per cent in the UK.
Merely treating entrepreneurship as
another subject, however, is likely to
only prove partially effective. Strong
academic skills are seen as an
important attribute for entrepreneurial
success by just 17 per cent of
entrepreneurs in our survey and
12 per cent of young respondents.
What Professor Zhao says of courses
at Chinese universities applies more
widely. All too often these become
limited offerings in a traditional
academic mould. More generally,
he adds: “Just because you can
teach an entrepreneurship course,
it doesn’t mean you can [make
people successful entrepreneurs].
We talk about teaching them, but it is
something we have to cultivate. It is a
paradigm issue.”
16. Helping entrepreneurs flourish: Rethinking the drivers of entrepreneurship
14AveragePISAScore
Perceived Entrepreneurship Ability
570
560
550
540
530
520
510
500
490
480
470
460
450
440
20 4010 15 25 35 45 55 6530 50 60 70
• Croatia
• Lithuania
• Poland
• Japan
• Portugal
• Slovenia
• Singapore
• Greece
• Czech Republic
•
Belgium
• UAE
• Hungary
• Germany
• Slovak Republic
• Chinese Taipei
• Spain
• France
• Switzerland
• United States
• Denmark
• Finland
• Russian Federation
• Sweden
• Netherlands
• United Kingdom
• Australia
• Ireland
• Norway
• Korea
• Latvia
Source: Yong Zhao, Associate Dean for Global Education, University of Oregon.
PISA 2009 maths scores vs perceived entrepreneurship capabilities
17. www.gov.uk/ukti
15
Which of the following do you wish you had had more of when starting your own business?
Select all that apply (Entrepreneurs Survey)
Source: The Economist Intelligence Unit 2014.
Better financial advice
Better access to company
schemes when in education
Support from friends and family
Access at school or university
to practical information
on entrepreneurship and
networking events
Better access to public
funding schemes
Targeted courses at school /
university on entrepreneurship
Early-stage entrepreneurial
support such as incubators
and business accelerators
54%
35%
46%
35%
40%
20%
38%
18. Helping entrepreneurs flourish: Rethinking the drivers of entrepreneurship
16
Instead, individuals need a way to
put this information into a range of
contexts. As David Gorodyansky puts
it: “It’s time to evolve education from
just being information-driven to being
experience-driven and personalised.
If you are going to be an entrepreneur,
it’s a lot more important to understand
the world and different cultures,
people and mindsets.”
Even more important, say
entrepreneurs, is developing the
ability to make practical use of
information in new and innovative
ways, or, as Rob Law puts it:
“What to do with that information
when you’ve got it. In general,
we need to teach more creativity
and problem-solving techniques.”
Narayana Murthy agrees: “The first
requirement for all of us to become
more entrepreneurial is the ability to
relate what we learn in the classroom
to finding solutions to our problems
around us.” He believes that even
greater use of practical examples by
teachers in explaining formal ideas
would go some way in this direction.
An emphasis on using information
to solve problems, however, will
ultimately have little effect if the
goal remains to find a single right
answer. Narayana Murthy says: “Our
teachers should be encouraging
children to take more risks –
whether in sports or conducting
lab experiments, or solving more
difficult problems – so that they
realise there is nothing wrong in
failing. That is extremely important.”
A final area in which many
entrepreneurs wish educational
institutions could inculcate better
skills, largely through providing
practical experience, is networking.
One of the most frequently
mentioned options which those
surveyed wish they had had when
starting out is access at school or
university to practical information
on entrepreneurship and networking
events (selected by 35 per cent).
Similarly, the most frequently
mentioned change young people
would like to see in education is
better contact with the professional
world (47 per cent). This is not simply
about providing contacts who might
offer work: having a network and the
skills of knowing how to use it are
critical to entrepreneurial success.
According to entrepreneurs, a strong
network of contacts for mentoring is
the second most important factor for
their own business success (33 per
cent), after personal determination,
which tops the list for entrepreneurs
based in Western Europe (42 per cent),
particularly in the UK (53 per cent).
However, creating institutions that
inculcate abilities such as problem-
solving and networking, as well as
an understanding of the rewards
of risk and its dangers, will require
substantial changes of attitude and
approach within many educational
systems. In the words of a recent
European Commission report,
entrepreneurial skills “are difficult to
teach through traditional teaching
and learning practices in which
the learner tends to be a more or
less passive recipient”.5
The key,
as Britain’s National Centre for
Entrepreneurship in Education
(NCEE) has found in recent years,
is for these institutions themselves
to become more entrepreneurial
[see case study].
Making education entrepreneurial
What, then, would entrepreneurs consider a more effective education?
Those interviewed for this report stress the need to go beyond imparting
a given body of information, especially with data so easy to access in
today’s digital age.
5: Entrepreneurship Education: Enabling Teachers as a Critical Success Factor, November 2012.
19. www.gov.uk/ukti
17
Source: The Economist Intelligence Unit 2014.
What would you say is key to your business’s success today? Select up to two (Entrepreneurs Survey)
My plans and
determination
Strong network
of contacts/
mentoring
My start-up team Access to finance
The current
economic
environment of the
country in which I
reside
Ability to leverage
the technology
infrastructure in my
country
Other (please
specify)
33%
30%
22%
51%
32%
29%
1%
One obvious objection to such
thorough-going change, though,
is the fact that education systems
cannot be designed solely
with entrepreneurship in mind.
Inculcating an employee mindset
is no bad thing if most graduates
will end up as employees. A more
entrepreneur-friendly education,
however, is also consistent with
much recent thinking about
education reform in general.
Problem-solving and the ability
to work in teams – or networks –
are two of what are increasingly
being described as essential skills
for the 21st century. David Frost,
the executive chairman of the
NCEE, points out that transforming
education in this way “is not all
about starting a business.
Employers say that a lot of young
people lack enterprising skills: the
ability to communicate, work as part
of a team, take initiative rather than sit
and wait to be told to do something.”
Rob Law adds: “Problem-solving
and creativity are the future needs
of industry and business.” Indeed,
entrepreneurs cite passion,
determination and creativity as
the most important attributes for a
successful entrepreneur. When asked
about the keys to their own business’s
success, they point to determination
(51 per cent) and a strong network of
contacts / mentoring (33 per cent).
The intention of the OECD’s
Programme for International
Student Assessment (PISA) to
add in 2015 a problem-solving
test to its long-standing reading,
writing, and science tests shows
just how mainstream this thinking is
becoming. If entrepreneurs do not
think academic skills are important
to success in their field, it is because
up until now those skills have been
conceived too narrowly. A broader
definition will lead not just to an
environment more supportive of
entrepreneurship, but one where
everyone is better prepared for the
challenges of the future.
20. Helping entrepreneurs flourish: Rethinking the drivers of entrepreneurship
18
The evolution of Britain’s National
Centre for Entrepreneurship
in Education (NCEE), based at
Coventry University, reveals a
widening understanding of how
education can best contribute
to entrepreneurship. It was
established in 2004 to deal with
a specific problem. The NCEE
executive chairman, David
Frost, recalls that at the time
the government was concerned
because, although the country’s
“young people appeared to
be entrepreneurial, something
happened in the three years at
university where the entrepreneurial
spirit was lost, not stimulated”.
The NCEE’s original task was
therefore understandably narrow:
to raise the profile of graduate
entrepreneurship and increase the
number of students and graduates
seriously considering engaging in
business start-ups.
It quickly became apparent,
however, that success in this
specific aim required a broad
approach. “Simply hectoring
people to start businesses isn’t
the way to do it,” says Davd Frost.
“You can’t expect entrepreneurial
individuals to come up through
higher education if the institution
itself is not entrepreneurial. You
must develop an ecosystem that
understands and supports the
entrepreneurial spirit.” The NCEE
now, therefore, has a far wider remit.
In addition to its original goals, it
aims to bring about cultural change
and build capacity so that colleges
and universities themselves
become entrepreneurial.
An entrepreneurial tertiary
institution takes an entrepreneurial,
decentralised approach to decision-
making and operations. This means
encouraging individual initiative and
innovation in the face of various
challenges facing such institutions
today, from research and teaching;
through knowledge transfer and
engagement with a range of
stakeholders, including government
and business; to responding to the
challenges faced by the communities
in which these schools are based.
To help bring about the necessary
cultural shift in universities,
says David Frost, the NCEE’s
programmes target three broad
groups: university leaders,
academics more generally, and
students and recent graduates.
Efforts to help the latter are
certainly effective. The NCEE’s
‘Make It Happen’ programme,
which provides resources, tools
and online mentoring for graduates
starting up a company, has helped
with the launch of 1,900 new
businesses since 2009.
Meanwhile, programmes aimed at
the other targets are also having
an important impact. The NCEE’s
International Entrepreneurship
Educators Programme, designed to
train and support those providing
enterprise education at the university
level, has been copied in the EU
and China, and an independent
assessment by the consultancy
EKOS estimates that it generates
very roughly £20 of economic
activity for every £1 invested. David
Frost, though, believes that so far
the most successful programme
has been one aimed at heads of
institutions, the Entrepreneurial
University Leaders Programme.
He explains that the cultural shift
needed to create the conditions
favourable to entrepreneurship “has
to come from the top. Things will not
change unless leaders believe it is
appropriate to do so.”
The collective impact of the
NCEE’s approach can help create
institutions with impressive results.
The NCEE and the Times Higher
Education Supplement present an
annual Entrepreneurial University
award in Britain. The 2013 winner,
the University of Strathclyde, has
in the last decade seen 50 spin-
off companies and 84 student or
alumni start-ups creating total
employment for over 900 people.
Case study – The National Centre
for Entrepreneurship in Education:
Getting the culture right
22. Helping entrepreneurs flourish: Rethinking the drivers of entrepreneurship
20
Conclusion: A more entrepreneurial
society’s wider benefits
Economies would benefit if there
were more entrepreneurs, and
supporting entrepreneurship
therefore seems like an obvious
course for governments and
societies. Finding the right way to do
so, however, is complicated because
success in this activity revolves
closely around personal qualities and
choices. As Kiran Mazumdar-Shaw
of Biocon puts it, whatever help is
given, “at the end of the day, the
individual entrepreneur has to run
with the idea, make his or her own
mistakes, and so on.”
Whether entrepreneurs are born or
made, they cannot be manufactured
out of whole cloth. They can,
however, be cultivated by creating an
environment where those who wish
to are better able to take the risks
of starting a company. This might
involve anything from TV shows
which help shift cultural attitudes
to any number of potentially helpful
government policies. This report,
however, has concentrated on two
areas vital for shaping the capacity
of interested individuals to become
entrepreneurs: the work environment
and education.
Business has a key role to play.
Mentorship networks are essential
for new entrepreneurs as they seek
to navigate the numerous challenges
facing any start-up. Although many
do so out of a sense of giving back,
established entrepreneurs also stand
to benefit from being a mentor by
building up and renewing their own
networks. Similarly, a company
that teaches entrepreneurship by
example can have a dramatic impact
on the ability of its employees to start
companies in the future even while
remaining innovative itself.
Education can also be of help but too
often universities and schools actually
impede entrepreneurship. This is not
for lack of trying: entrepreneurship
education has expanded dramatically
in recent decades. Rather, it is the
traditional academic format which
blinkers students and instils a fear
of risk-taking and a search for
single right answers. Overcoming
this requires a shift in how teaching
takes place in order to build up their
problem-solving abilities, networking
skills and willingness to search
for the creative approaches that
entrepreneurs need. In doing so,
educational institutions will inculcate
attitudes and skills that help not just
entrepreneurs but a broad range of
people across society.
Creating an environment more
conducive to entrepreneurship, then,
is not just about helping the minority
who start businesses. It will let many
individuals reach their full potential.
Although the exact figures are rough, a significant proportion of the world’s
adult population is already engaged in entrepreneurship.
Entrepreneurs can be
cultivated by creating
an environment where
those who wish to are
better able to take
the risks of starting a
company.