“Entrepreneurship Management reinvents the future of Business Management”
ENTREPRENEURSHIP MANAGEMENT vs TRADITIONAL MANAGEMENT: THE NEW CHALLENGE FOR BUSINESS DEVELOPMENT
Since no longer are large corporations employing large numbers of workers which are neither needed nor necessary to run modern businesses, all that is required today from the new manager, scientist, engineer is a new cultural business mindset far different from the one being preached in academic institutions.
In this context, a contradiction has developed in our market and society as the number of graduates coming out of universities has continued to increase, while the market demand for newly graduates has decreased with the shrinking size and number of potential employers. This has rendered evident the need academic institutions have to reinvent their role as socially responsible units capable of integrating the technical business training and leadership development of their graduates. As the future of employment comes to rely increasingly more on self-employment, Universities would have to reinvent themselves training graduates to become self-employed. This would require offering graduates a Entreprenurship Management skills in the context of a Business Plan Course to prepare them to become entrepreneurs. This would allow future graduates of any discipline to use their academic knowledge to develop an idea into a viable business proposition.
A Business Plan Course will give them the necessary skills and instruments to develop a practical business application of the course contents. The realisation of the entrepreneurial viability of their idea will lead graduates along the path of self employment as future entrepreneurs regardless of their academic line of speciality. The future of employment will then depend on the capacity of universities and in particular of graduates, to reinvent themselves to identify and create business opportunities for self-employment. By developing the entrepreneurial management spirit of futures graduates, a Business Plan Course would not only be actively contributing to create entrepreneurs capable of generating employment for themselves and for others, but to enhance the economy’s capacity to create future economic growth.
The implicit shift associated with turning graduates accustomed to be market followers into active market creators following the development and implementation of their business ideas through a Business Plan, represents in itself a major intellectual cultural reinvention of traditional businessmen into modern entrepreneurs capable to adjust and survive in a new market context.
In the end, a Business Plan Course involves nothing more than helping potential entrepreneurs realise the need to set out the objectives and strategies of a future business in a planned document. This document will then become a cultural business guide for potential entrepreneurs to “think before acting” to avoid failure and plan before acting to develop systematic thinking patterns to avoid improvisation and emotional business decisional drives.
“STRATEGIC PLANNING IS A LIFE-LONG PROCESS”