Many businessespractices in the past no longer have a place in the current business system. Market dynamics are continually shifting each day as we speak. Take a good example, traditional advertisement techniques used by many businesses like advertising your product on cable TV no longer has a place in today’s society. Most companies are now embracing online marketing. More people connect to the internet than ever. This is what I meant by shifting market dynamics. So, if the market dynamics are changing, so should the entrepreneurs.
How do the entrepreneurs change?
Through education. As an entrepreneur, you should be willing to learn new business practices and techniques to remain relevant in the future. Past curriculum in entrepreneurship is updated continuously and old ones phased out. Those tasked with updating this curriculum are those in the teaching profession. They should not only give their protégés fish but also teach them how to fish. What I mean of course is that the educators should equip trainees with the necessary knowledge and also expose them to the changing business environment. The future is entirely uncertain, hence the need. Here are some points to consider when preparing the next generation of entrepreneurs.
In the past, the curriculum evolved around passing exams in your course. It relied heavily on what you have. The current curriculum trains you on what you can do. There is no memorizing to pass exams; you are being prepared for the real life experience from day one. The current society needs people who are very flexible, to embrace change. A good entrepreneurial student needs to be a problem solver. You should identify a problem and take advantage of it by presenting a solution. This is how essential brands started in the first place. They identified a problem a customer can relate and offered a solution to them. In some cases, students aren’t able to write essays because they lack time, so they refer to writing services. Sometimes students lack not only time but also money, so they want to find college paper for sale.
Educators should encourage creativity, by presenting real-life challenges to students. They should be able to learn and think, not listen and cram. Be innovative in teaching them the basics. Ditch textbooks and embrace digital e-books. That is the change we are talking about.
Educators should expose their students to the real obstacles in a business environment, to force them to think. In a situation like this, they have to come up with problem-solving solutions. Expose them to experimentation by making them work with different tools in business. In this way, they will be incorporated into the learning environment. They should not be passive learners but active learners who are willing to try out different methods in the learning process. They take a leading role in structuring their learning environment.
Students should never dread about failing. Most entrepreneurs know the term failing forward. It merely means that failing is an opportunity in itself, it prepares you for future obstacles in business. You get to learn from your failures. No business environment is smooth flowing; there are challenges on the way. Hence the need to plan for them.
Students should learn to lead
Educators should at this point take a break and let students run the show. Let students showcase their activities by making them take charge. Allow them to use projectors and mobile devices to lead collective lessons. Let them design their learning environment that suits their interests going forward. Of course, the instructors will be there for oversight and to see if the students are learning something. They should use this opportunity to make mistakes and learn how to correct these mistakes.
By doing this, your students will be able to think and learn. They will feel like an entrepreneur during problem-solving situations. This will give those ideas on how to start, maintain and improve a business. Incorporate technology in the learning environment. As technology improves, we need people who can spearhead the way forward. People who can incorporate technology into the business environment.
Times are changing, so should we. Let us equip the next generation with skills that will help them with the shifting market dynamics. Advocate for changes in curriculum to make the next generation of learners more of leaders and problem solvers than just employees. They should have the ability to incubate new ideas and actualize them in the business market. For anyone to survive in the current business environment, you should either be an innovator or a contributor. Every business organization needs a strategy to survive in the market.