The current young generation finds itself at a precarious point in history. For starters, most of the recent graduates and some still in school are still feeling the ramifications of the 2007/2008 economic recession. At which point, the recent graduates were some of those who were hit hardest. For individuals looking for their first shot at actual work experience, it could not have come at a worse time. Without the availability of jobs in the recovering market, most of them had to take up low paying jobs significantly below their levels of skills.
12 years later, you would be forgiven to believe that the situation may be better. At the very least, the affected persons should be in a better position to pick themselves up. In the time of writing, however, the whole world is still somewhat at a standstill. A global pandemic has taken over, turning lives up and down in a fraction of a second. Yet again, products of the education system, which is currently at a halt, will be among the most affected. As a finite timeline of the pandemic is still elusive, we can merely speculate the extent of the damage done, and will, potentially.
What Business Is Business in Education?
Most of the critics against the current education system have been vocal in pointing out how some of the challenges can be mitigated. For starters, some of these challenges are systemic. Take, for instance, the lack of proper education on the concept of money. We spend most of our time in school, gaining necessary knowledge or our future vocations, yet we never learn how to use the resources at our disposal in our professions, which is why educators are looking to include monetary studies in the curriculum. While in-depth knowledge may be limited to business studies, all learners looking to make an income should, at the very least, learn how it works.
Equally, there are minimal entrepreneurial resources in the current education system. As most of us grow up within this school model, we are geared towards professional and societally-respectable courses. Very rarely do learning institutions offer the necessary vocational training for students to teach students to be their own employers. Recent custom research papers suggest that majority of the learners are still focused on learning a professional trade.
While training professionals is not exactly detrimental to the individuals a society altogether, the modern world is leaning towards entrepreneurial ventures. As we advance as a society, more and more people are making their livelihoods in ways that would have been unimaginable merely half a century ago. Take, for instance, top-level YouTubers who are making over 6-digit annual incomes, in American dollars. One, then, can only wonder what impact proper vocational training in entrepreneurship can achieve for both an individual student and society, both economically and socially.
Entrepreneurship in the Classroom
Most entrepreneurs, who also happen to be educators, have the firm opinion that integrating these studies in the current curriculum is not only implementable straight away but also likely to be a low-cost effort. These educators recommend that schools should begin by instilling the appropriate citizenship values as far as the corporate world may be concerned. From this foundation, they can build on the necessary entrepreneurial knowledge and skills to impart the information to the students. Furthermore, this should not come at the expense of preexisting school subjects. On the contrary, it should complement them.
Hence, a student leaves the education system with an eclectic understanding of the real world they will soon find themselves in. This not only improves the lives of the students significantly but also broadens their horizons. In such a way that a student does not find themselves limited in terms of employment options purely based on their academic track. As a matter of fact, students that have adopted entrepreneurial education are already witnessing tangible results. A study in one of such schools in Norway showed that past learners from the program accounted for about 50% more start-ups than learners from a control group. They also demonstrated a substantial 4-point difference of the age by which the learners had founded their own start-up.
Not only do such changes present a more inclusive model of education but also the genuine possibility of fostering learners who can think for themselves. Now more than ever, the system requires adaptable learners who can make the best out of the situation we find ourselves. Public-private partnerships might hold the key.