Culture of Entrepreneurship vs. Employment
Culture of Entrepreneurship versus Employment
Melanie Banzuela-de Ocampo, PhD
April Joan S. Bagano, MBE Ana Liza R. Tan, MBA
Abstract
This paper is part of the results of a larger graduate tracer study done for a large university. It looks into the culture of entrepreneurship versus employment among recent graduates of the business school of a large university based in the Philippines. Students who chose to take an entrepreneurial education undergo a two-semester business practicum program entailing preparation of a business plan and actual implementation of a start-up enterprise. Students who go through this baccalaureate degree are envisioned to become entrepreneurs when they graduate. The study reveals that one out of four of the graduates who took up entrepreneurial education became entrepreneurs after graduation. Many still opted for employment. It appears from this initial study that the culture of entrepreneurship particularly youth entrepreneurship still needs to take root in the young people’s mindset. Filipino youth continue to have a strong cultural preference for secure jobs and the employment route.
Keywords: Culture of Entrepreneurship, Entrepreneurial Education, Graduate Tracer Study, Employment
Introduction
In an increasingly globalized world, there is a growing pressure for fresh graduates to compete for jobs which are not growing at the same pace with the growth in population of young people seeking gainful employment. According to the International Labor Organization Youth Employment Networks (YEN), young people are actively seeking to participate in the world of work and are two to three times more likely than the older generations to find themselves unemployed (ILO, 2006). Young people are defined by the UN as individuals between the age of 15 to 24 years, and adults as individuals of age 25 and over. According to UN statistics, there are over 1 billion young people in 2000, which
Melanie Banzuela-de Ocampo, PhD
April Joan S. Bagano, MBE Ana Liza R. Tan, MBA
Abstract
This paper is part of the results of a larger graduate tracer study done for a large university. It looks into the culture of entrepreneurship versus employment among recent graduates of the business school of a large university based in the Philippines. Students who chose to take an entrepreneurial education undergo a two-semester business practicum program entailing preparation of a business plan and actual implementation of a start-up enterprise. Students who go through this baccalaureate degree are envisioned to become entrepreneurs when they graduate. The study reveals that one out of four of the graduates who took up entrepreneurial education became entrepreneurs after graduation. Many still opted for employment. It appears from this initial study that the culture of entrepreneurship particularly youth entrepreneurship still needs to take root in the young people’s mindset. Filipino youth continue to have a strong cultural preference for secure jobs and the employment route.
Keywords: Culture of Entrepreneurship, Entrepreneurial Education, Graduate Tracer Study, Employment
Introduction
In an increasingly globalized world, there is a growing pressure for fresh graduates to compete for jobs which are not growing at the same pace with the growth in population of young people seeking gainful employment. According to the International Labor Organization Youth Employment Networks (YEN), young people are actively seeking to participate in the world of work and are two to three times more likely than the older generations to find themselves unemployed (ILO, 2006). Young people are defined by the UN as individuals between the age of 15 to 24 years, and adults as individuals of age 25 and over. According to UN statistics, there are over 1 billion young people in 2000, which
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