“Entrepreneurial Mindset for Engineers: The Role of Academia and Industries”
Problem Statement • Thousands of Engineering students graduate every year • Very few get good quality jobs • Taking a long time to get job (1-2 years) • The youth is loosing hope and feel discouraged • The Elite universities are charging a lot • The industry complains that the quality of the graduates is very low i.e. chairman Amreli, Arpatech, Artech and many others • The faculty complains that the industry does not respond to the academia
Solution • To work on the Universities to develop an entrepreneurial mindset – Faculty development – Content and curriculum – To offer a solution to the industry – To prepare students which can add value • To educate the Industry – The importance of the resources within the university – To become a learning partner with the university i.e. Infinity School Lahore – To engage faculty and students
“In Six more weeks, these Engineers will be ready for market”
Managerial Mindset Babson (Timmons Model) Causation Model 2004 Entrepreneurial Mindset Experiment at IBA with Effectuation Darden Model
Problems with the Management (causation) lens of entrepreneurship • Focus on Grand Vision • Encourages cut throat competition • Frequent use of words like state • Encourages spending beyond of the art, strategy means • Over emphasis on planning • Pressure to deliver • Arrogance • Very less learnings from failure • More importance to resources • Failure rate is very high • Focus on scale • Measure of success is the • Impatience, want to hurry “Bottom line” • Considers resources are finite • Does not like spontaneity, surprises
Entrepreneurship: An effectual Lens • Action oriented • Use of bird in hand • Calculated risk • Agile, Flexible • Cooperation • Gives hope and courage This is the story of Interloop, Ghani Glass, Chinoti etc ………… AND the Beaver
Effectuation (create a effect with what ever you have) • Evolving Means (Means evolve with time, reflection, experiments and action) • New and Different Goals are identified during the journey. • Effectuation evokes creative and transformative tactics • heuristics (rule of thumb, intuitive, common sense) used by expert entrepreneurs in new venture creation.
A framework to engage the University and Academia for an entrepreneurial Mindset
New worlds derive their growth from thoughts quite fresh and new. A world is neither built nor grow from stones and bricks. The firm resolve of those, Who self explore, Transforms a stream in to sea that has no shore.
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