Text Only
Search

Business Schools Strive to Produce Entrepreneurs


18 July 2008
Wood report - Download (MP3) audio clip
Wood report - Listen (MP3) audio clip
Entrepreneur - Teaching Entrepreurship report / Broadband - Download (WM) video clip
Entrepreneur - Teaching Entrepreurship report / Broadband - Watch (WM) video clip

During the cold war, there were essentially three economic systems -- capitalism, socialism and an amalgam of the two, the mixed economies popular in what was called the third world. Today the global standard is the market economy and entrepreneurship is being taught at universities and schools around the world. Barry Wood has this report.

Mthuli Ncube
Institute for Entrepreneurship's Mthuli Ncube teaches new generation of African entrepreneurs
Mthuli Ncube is a man with a mission. He heads the institute for entrepreneurship at Johannesburg's Witwatersrand University, one of the most prestigious in the developing country. He is teaching a new generation of African entrepreneurs. "We teach them the principles of how a person who is passionate would typically behave, hoping that will stimulate the individual within, the entrepreneurial potential. Things around self-discovery, knowing who you are. We ask them do you have a personal mission statement?," he said.

Ncube says South Africa desperately needs entrepreneurs to follow in the footsteps of people like Richard Maponya. Maponya made millions in property and retailing.

The fascination with entrepreneurship is strong in other developing countries. In China and India, the brightest prospective managers -- thousands of them -- are attending graduate schools of business where entrepreneurship is part of the curriculum.

Programs in the developing world tend to be inspired by the American model.

At some American universities, business students are required to launch a business before they graduate. Elaine Allen teaches entrepreneurship at Babson College in Boston.

"Before we teach them anything about accounting or finance, we have them come in, and we say, 'Okay groups of 15, start a business. We'll give you $2,000 seed money,' and at the end of the second semester almost all of them have made a profit. Often the profits are as much as $50,000 or $60,000, all of which they have to donate to charity."

University business classes
University of Maryland business class
At the University of Maryland near Washington, students are also required to start businesses. Melissa Carrier says the Internet has made that easier. "..It doesn't take a lot of funding to build an Internet business. So, in a lot of cases you can build a Website for less than $10,000, create some advertising, and build a nice small business," she said.

World Bank specialist Dahlia Khalifa says the notion that governments can provide jobs is obsolete. "Over the past 20 to 30 years, the trend has been to recognize that that just doesn't work. Governments can't provide jobs. Governments can't be the generator of growth for the economy. That falls to the private sector," she said.

In South Africa, the private sector is promoting black entrepreneurs. Carolyn Menyape has her own employment agency. It recruits employees for the banking industry. "So this person is coming in? It's a new position that they have created--must have experience with assessments," she said.

Menyape may not have been through the entrepreneurship program at Witwatersrand University, but she has the passion and determination that its director is seeking in future entrepreneurs.

 

emailme.gif E-mail This Article
printerfriendly.gif Print Version

  Related Stories
Entrepreneurs Bring Change to World
Entrepreneurs Share Courage, Other Common Traits
Microloans Foster Entrepreneurship in Poor Countries
Government Policies Can Help or Hinder Entrepreneurs
 
  Top Story
US Army Charges Alleged Fort Hood Shooter with Premeditated Murder

  More Stories
Obama Promises Strategy, Clear Mission, Public Support For Troops  Audio Clip Available
Kremlin Calls for Sweeping Modernization of Russia  Audio Clip Available
Union Says Zimbabwe Farm Workers Worst Abused Sector in Past 10 Years  Video clip available
Obama Begins First Presidential Trip to Asia  Audio Clip Available
Obama to Hold Jobs Summit in December   Audio Clip Available  Video clip available
Reports: US Ambassador to Kabul Expresses Caution About More Troops  Audio Clip Available
APEC Ministers say Economic Recovery Fragile  Audio Clip Available
Clinton Vows Support for Philippine Typhoon  Recovery, Anti-Terrorism Fight  Audio Clip Available
US Leaders May Interact With Burmese at Singapore Summit  Audio Clip Available
N. Korea Says South Will Pay 'Expensive Price' for Naval Clash
China Rejects Human Rights Watch Report on Black Jails
Thasksin Delivers Speech in Phnom Penh
Sri Lanka Military Chief Resigns  Audio Clip Available
As Alleged Fort Hood Shooter Recovers, New Questions Arise  Video clip available
Pakistan Seeks Role in US-Afghan Policy
Obama's Middle East Strategy Stalls
Zimbabwe Land Seizures Reportedly Intensify  Audio Clip Available
First Recorded Dengue Fever Epidemic Hits Cape Verde  Audio Clip Available
Paisley, Swift Winners at CMA Awards  Audio Clip Available