How Entrepreneurship and Innovation is integral to Egypt’s TVET Reform

How Entrepreneurship and Innovation is integral to Egypt’s TVET Reform

How Entrepreneurship and Innovation is integral to Egypt’s TVET Reform

Monday, December 9, 2019

How Entrepreneurship and Innovation is integral to Egypt’s TVET Reform

Monday, December 9, 2019

Investing in an Inclusive Future

Education is at the core of the upliftment of standards and quality of life since it is the foundation for human capital. The application of appropriate science and technology is the basis for improved economic growth. As an alternative to traditional academic learning in Egypt, technical and vocational education and training is a substitute for the Egyptian high school degree Thanweya ‘Ama, where students enroll after the completion of their preparatory education and focus on occupational learning. With the globalization wave, requirement to develop knowledge and practical skills on a continuous basis is necessary. Many education development initiatives have taken on board the need to foster transferable skills, because characteristics such as innovation and creativity are increasingly needed for all levels and types of work. TVET has a special role to play in providing the knowledge and practical skills that empower people to improve the quality of their daily lives and earn income. TVET today involves more than skills acquisition programmes. Its policies and strategies stress the need for stronger links with the labour market and for strategies to help graduates to adjust continuously to the fast changes in the market.

Yet for a long time, TVET in the Region has been neglected, fragmented and unevenly developed. In recent years, with Egypt’s recognition of prior learning and skills acquired informally, there has been a policy shift that recognizes the importance of TVET in addressing a number of socioeconomic challenges faced by the government. Accommodating close to 2 million students and over half a million graduates per year, the sector in Egypt faces many challenges, especially in relation to the efficiency of the labour market and the deteriorating conditions that have disproportionally affected many of Egypt’s youth. The important role of education in promoting more entrepreneurial attitudes and behaviours is now becoming recognized and the benefits of entrepreneurship education are no longer just limited to start-ups, innovative ventures and new jobs.

In the past decade, most TVET reform programmes have been designed to prepare people for paid employment and many focus on employment in large enterprises to help TVET planners and providers improve the relevance of supply, by ensuring that the demand side is considered. Still there have been limitations in gearing Egyptian TVET youths to become active contributors due to pre-defined ideas of what they can and cannot do, depriving local communities of their talents, and therefore constraining meaningful pathways for individuals and economic growth. Entrepreneurship has also become a key competency for all, helping young people to be more creative and self-confident in whatever they undertake. TVET, at all levels including tertiary education, is a main contributor to entrepreneurship skills acquisition in both its senses because of its relevance in ensuring that the current and future labour meet economic development needs. Nonetheless, there is still relatively little emphasis in national development policies, and even fewer highlight the skills dimension of this component on the national economy. (Read more…)

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How to Educate Tomorrow’s Entrepreneurs

How to Educate Tomorrow’s Entrepreneurs

How to Educate Tomorrow’s Entrepreneurs

Monday, December 2, 2019

How to Educate Tomorrow’s Entrepreneurs

Monday, December 2, 2019

The Role of University Entrepreneurship Ecosystems

The notion that starting one’s own business is a substitute for college, or at least that college isn’t consistent with the idea of entrepreneurship, has not been true since our grandparents or great-grandparents’ generation. Yet we hear more about how Steve Jobs, Bill Gates and Mark Zuckerberg dropped out of college than we hear that other very successful entrepreneurs like Elon Musk, Jeff Bezos, Jack Ma and Ariana Huffington actually graduated from one. Just google “successful entrepreneurs who went to college”; you’ll instead get a number of links to entrepreneurs who never finished or never went to one in the first place.

While the legend of the billionaire college dropout entrepreneur makes for a good news story, this is far from the norm. Figure 1 shows percentages, among the adult population and among entrepreneurs, who have completed a post-secondary level of education in 23 countries. As this figure demonstrates, the majority of countries have a much higher proportion of entrepreneurs with a college degree compared to the general population. In fact, more than half exhibit twice the percentage of college educated entrepreneurs as does the general populace. With our entrepreneurial hats on, we can surely say this represents an opportunity. If so many entrepreneurs have gone to college, can we increase their preparation for this endeavor during their studies? In so doing, we can enhance their skills and confidence in ultimately building impactful, long-lasting businesses. (Read more…)

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The Benefits of Digitalization and Internationalization for MSMEs

The Benefits of Digitalization and Internationalization for MSMEs

Internationalization and Digitalization of MSMEs or Is It MSME Digitalization of Internationalization?

Monday, November 25, 2019

Internationalization and Digitalization of MSMEs or Is It MSME Digitalization of Internationalization?

Monday, November 24, 2019

The Power of MSME Digitalization

Digitalization is playing an increasingly important role in the growth of small businesses and is leading to strategic, structural and cultural transformations. For MSMEs which decide to engage internationally, the use of digitalization presents new opportunities to succeed in foreign markets, based on a new international value proposition. Digitalization – as the combination and application of digital technologies within an organization, economy and society – is applicable for many fields and creates opportunities. It is represented in three related phenomena: digital artifacts, digital platforms and digital infrastructures.

For decades globalization was defined through trade in goods and services between countries. While the dynamics of these flows are currently moderate, globalization is not slowing down (Manyika et al., 2016). In contrast, huge data flows are constantly crossing borders and their volume has increased considerably. Consequently, globalization is evolving at the same pace as these exchanges of information and data across foreign markets. Digital infrastructures and platforms are mainly at the origin of these changes. They are creating new virtual market spaces and resizing all the business cross-border economies by reducing costs, shortening transactions and amplifying interactions. Because digital means shaping global user communities, these infrastructures are essential databases for companies and provide real opportunities with innovative ways to reach potential customers.

In terms of international business, MSMEs are now able to digitalize their internationalization process by integrating these technologies into the value chain and managing the massive amount of data. The 21th century globalization evolution is marked by intangible flows of data and information, greater participation by emerging economies and more knowledge-intensive flows. As digital infrastructure becomes equally important, and the role of small enterprises and individuals grows, there are more exchanges of free content and instant global access to information and services (Manyika et al., 2016) (Read more…).

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The Importance of MSME Management and Development

The Importance of MSME Management and Development

MSME Management and Development

Monday, November 18, 2019

MSME Management and Development

Monday, November, 18, 2019

A Brief Overview on Imaginative Mindset and Ecological Commitment

On June 27, 2019, we celebrate the third anniversary of the International Day of Micro-, Small and Medium-Sized Enterprises. The entrepreneurship community in general, and we at the International Council for Small Business (ICSB) in particular, are grateful to the United Nations (UN) for agreeing to create this special day. It strengthens our commitment and provides an additional means of communication to help reach the UN’s Sustainable Development Goals (SDG).

This paper is intended for entrepreneurs throughout the world, in developed and less developed countries, and especially for new venture creators. Recognition of the importance of MSMEs in the development of societies implicitly includes recognition of the role played by entrepreneurs. Entrepreneurs make a difference in people’s lives. The products and services they develop influence the way people live, their quality of life and the evolution of their societies.

We were asked to share some of the lessons learned from enterprises in our regional environments. (Read more…)

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Revitalising the Australian Economy: Navigating the Headwinds

Revitalising the Australian Economy: Navigating the Headwinds

Revitalising the Australian Economy: Navigating the Headwinds

Monday, November, 11, 2019

Revitalising the Australian Economy: Navigating the Headwinds

November, Monday, 11, 2019

Navigating the Headwinds of the Australian Economy

Small business continues to be the engine room of economic growth. The latest government statistics indicate that of the 2.24 million businesses in Australia, there were 2.18 million (97.3%) micro and small businesses (those with less than 20 employees). Of these, there were 1.4 million (64.2%) micro businesses that did not employ any staff. Small business contributes 30% of GDP, employs 44% of all workers and generates 40% of new jobs. The annual turnover for 60% of these small businesses is less than AUD$200,000.

However, if small business is to prosper, some things need to change. Innovation processes are less common in small businesses, with 60% engaged in innovative activity compared to 67% for medium sized businesses and 80% for large businesses. Small businesses also report slower rates of productivity improvements compared to large firms (28% compared to 36%). Whilst small businesses represent 44% of all businesses that export goods, they only account for 0.5% of exports by value. Despite increases in the number of small businesses that are ‘born global’, significant scope exists for them to become more dynamic, innovative and efficient.

Recent research by the OECD and others indicates that small business can play an important role in lifting national productivity growth and, more importantly, national living standards through a variety of ways, including improved diffusion of knowledge, products, processes and technologies across businesses.

However, significant challenges have emerged. (Read more…).

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Entrepreneurship in the Underserved Population

Entrepreneurship in the Underserved Population

Entrepreneurship in the Underserved Population

Monday, November 4, 2019

Entrepreneurship in the Underserved Population

Monday, November 4, 2019

Examining Entrepreneurial Profiles of Underserved Demographics

While entrepreneurs may come from every demographic and situational background, each economy around the world has its own distinct entrepreneurship profile. This profile reveals who in a society most frequently starts a business—and who doesn’t. Those who are less likely to become entrepreneurs may be dissuaded in some way. This typically includes women, younger or older age groups, and those with lower income or less education. Besides these demographic characteristics, there may be those who have challenges due to their particular situations, such as veterans, migrants and refugees, and ex-convicts.

These populations may be underrepresented among the entrepreneurship ranks in an economy, yet they may otherwise benefit highly from this activity, particularly if they have few other work options, or if they have particular needs that entrepreneurship can accommodate. Additionally, society benefits from their participation when they pursue opportunities that others do not see and when they are generators rather than consumers of income. Entrepreneurship helps a society make the best use of its human capital and avoid negative consequences of idleness and frustration. (Read more…)

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