Entrepreneurial Training for Entrepreneurship Mcom sem 3 Delhi University
Entrepreneurial Development Training Program (EDTP) is created to provide an alternate route to gainful employment for economically disadvantaged individuals through the establishment of their own business.Entrepreneurial Training for Entrepreneurship MCOM sem 3 Delhi University.
There is a growing interest in the role that entrepreneurship can play as a catalyst to achieve economic and social development objectives, including growth, innovation, employment, and equity. Entrepreneurship can manifest within an economy in a number of ways, and it includes both formal and informal economic activities for the purposes of creating wealth. In turn, entrepreneurship can contribute to economic development through high-growth enterprises or, as in the case of necessity-driven entrepreneurship, through enterprises that can serve as an important source of income and employment for vulnerable populations. The variety of potential beneficial spillovers of entrepreneurship in turn focuses attention on interventions that stimulate individuals’ decisions to become and succeed as entrepreneurs. A current focus of entrepreneurship promotion is the role of mindsets and skills in enabling individuals to both recognize and capitalize on entrepreneurial opportunities. Research suggesting that several of these mindsets, types of knowledge, and skills can be learned situates educational institutions and training programs firmly within the broader discussions around entrepreneurship promotion. Entrepreneurial Training for Entrepreneurship MCOM sem 3 Delhi University.
Entrepreneurship education and training
A number of international, regional, national, and local actors are taking part in
the global experiment of entrepreneurship education (EE) and entrepreneurship education and training (EET). Today, EET is recognized as an established field of study, growing in parallel with the interest of policymakers and students. Taken as a whole, EET represents both academic education and formal training interventions that share the broad objective of providing individuals with the entrepreneurial mindsets and skills to support participation and performance in a range of entrepreneurial activities. EET encompasses a heterogeneous array of interventions, including formal academic education programs as well as stand-alone training programs. Both of these may aim to stimulate entrepreneurship as well as support individuals and enterprises already engaged in entrepreneurial activities. EET beneficiaries include both potential and practicing entrepreneurs who are traditional students enrolled in degree programs, early school leavers, adult learners, individuals with doctoral degrees, minority groups, women, and rural as well as urban populations. Entrepreneurial Training for Entrepreneurship MCOM sem 3 Delhi University.
Entrepreneurial Training for Entrepreneurship Mcom sem 3 Delhi University.
Entrepreneurship Training—Potential Entrepreneurs (ETPo)
This study identified and examined a total of 16 ET programs targeted at potential entrepreneurs. Of these 16 programs, impact evaluations were available for 7 programs, and in addition, the analysis was informed by insights from relevant meta-analyses and systematic reviews. One such review indicated that some of the stronger effects of Entrepreneurship Training–Potential Entrepreneurs (ETPo) programs relate to helping potential owners launch new businesses more quickly. The targeted outcomes of the other evaluated ETPo programs are primarily concentrated in the entrepreneurial status domain and to a lesser extent in the entrepreneurial performance, capabilities, and mindsets domains. With regard to entrepreneurial status, several of the evaluations demonstrate mixed but promising results around the capacity of these programs to improve employment, income, and savings for beneficiaries. While few evaluations looked explicitly at rates of new business start-ups, many used proxies for business start-up, such as self-employment and increased business income. Entrepreneurial Training for Entrepreneurship MCOM sem 3 Delhi University.
Among the most promising results in the firm performance domain was the enhancing of business practices, with several program evaluations indicating improved record keeping, formal registration, access to new loans, and a more strategic orientation of the businesses concerned. Nonetheless, there was little evidence that training fostered the creation of high-revenue or high-employment firms in the long run. Lastly, some program evaluations also gave attention to the effects on various socio-emotional skills and entrepreneurial awareness. Several program evaluations cited increases in participants’ self-confidence and teamwork, and one impact evaluation found mixed results for a range of indicators related to participants’ psychological and social well-being. The focus on such indicators is a reminder that many ETPo program evaluations cover interventions aimed at improving the immediate, material well-being of vulnerable populations.In line with these objectives, a number of the ETPo programs are designed to target vulnerable groups, including women, unemployed youth, and welfare recipients. The characteristics of ETPo programs in turn reflect the diversity among the individuals these programs target and the outcomes they pursue. In some cases, the training is embedded within a broader support program that may
include a number of services in addition to training, including grants, conditional
cash transfers, and intensive follow-ups. Across these programs, the content ranges from business knowledge, to entrepreneurial skills, to financial literacy and accounting, to marketing, sales, and general management skills, to vocational and life skills. Most ETPo programs appear to include some wrap-around services. According to available ETPo evaluations, the training components that combine grants with activities such as internships and mentoring services have higher impacts than simple training programs. Program outcomes are cited as being influenced by factors relating to local economic conditions and infrastructure, including access to finance and access to markets. Entrepreneurial Training for Entrepreneurship MCOM sem 3 Delhi University.
Entrepreneurship Training—Practicing Entrepreneurs
This study identified and examined a total of 25 ET programs targeted at practicing entrepreneurs. Of these program evaluations, 11 were impact evaluations with an experimental design. In addition to the program evaluations, the Entrepreneurship Training–Practicing Entrepreneur (ETPr) program analysis is informed by insights from relevant literature, including four metaanalyses and systematic reviews. The most common stated objectives of ETPr programs relate to the firm performance outcome domain, which corresponds to the immediate needs of the target audience: practicing entrepreneurs. Common targeted performance objectives include increases in profits, employees, and productivity, as well as business expansion in markets, financing, investment, and the implementation of better business practices and
innovations. Despite being the most targeted program objective, ETPr program evaluations indicated mixed results around firm performance. In terms of firm profits or revenues, evaluations found limited effects. For example, one impact evaluation did not demonstrate higher profits or revenues; however, difference-in-difference specifications did find a positive (though small) impacton enterprise revenues. Some evaluations demonstrated more promising results on this indicator depending on the type of training that was delivered. Mixed findings from evaluations on the impact of training on enterprise survivor-ship reflect the findings of available meta-analyses and systematic review. One program evaluation suggested training raised the probability of enterprise survival by 8 or 9 percentage points, while another evaluation found no impact. A systematic review found relatively modest impacts of training on survivorship among existing firms. Program evaluations and reviews indicated that few studies find significant impacts on profits or sales, but do find modest effects on practicing entrepreneurs’ decision to implement better business practices. Several program evaluations and meta-analyses give attention to the promise of ETPr programs to enhance trainees’ entrepreneurial capabilities (knowledge and skills), by shedding light on how these capabilities may ultimately contribute to better entrepreneurial performance. One meta-analysis finds a significant relationship between EET and entrepreneurship-related human capital assets and entrepreneurship outcomes, while another indicates that while programs can improve knowledge, this does not necessarily lead to related gains in performance and status outcomes. Entrepreneurial Training for Entrepreneurship MCOM sem 3 Delhi University.
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