Most people have believed since childhood that they must study hard and get a degree to land a good job, which translates to a good life. This belief is hard to forget because the older generation spread the view that owning a business is challenging and employment is always better. While they have their own reasons for this view, it may not necessarily be right.

The good news is that the belief is changing in this modern era with the emergence of lively social media, online selling, online stores and online business is flourishing. Statistics show that 543,000 businesses start every month because of the influence of economic and cultural growth. The same emergence of more start-ups replicates itself in the global markets.

Institutions of higher learning worldwide are evolving from a sole means to impact students with knowledge of core disciplines to a place where students prepare for solid careers. As a result, required technical and transferable skills have changed and are needed by graduates upon completion of their course. Young people also possess a different mindset from their predecessors; they are seeking to have more autonomous career paths riding on start-ups, entrepreneurship and technology.

Your institution needs to set up a framework and resources to enable your students to take charge of their careers early, whether they choose a path to work for an organization or entrepreneurship. 

INVEST IN EDUCATION TOOLKIT
With this 10-step process, you will have all the tools you need
to master the critical areas of a successful school.

Entrepreneurship is growing: How universities are responding globally

Entrepreneurship is expanding globally, and its intensity can't be something universities worldwide can afford to ignore. In that spirit, universities have structured an infrastructure to foster the rise of start-ups through short courses, entrepreneurship, and mentoring programs.

Some careers require entrepreneurship skills and employment skills, and your university should have a learning structure that caters to them. Some professions require learners to have entrepreneurship skills to make them employable. These learners' skills are an advantage to the workforce, the community, and the country's economy.

Institutions of higher learning are using e-learning to incorporate employment and entrepreneurship skills to equip their learners for easy adoption in the business and employment systems.

Differences between entrepreneurship and employment

When deciding on entrepreneurship vs. employment issues, the differences can guide you on which one to prioritize. The differences are as follows:

Work schedules

Entrepreneurs work for themselves and, therefore, have the privilege of having their work schedules. For example, they can decide to work in the evening over early mornings, four days a week, or work the entire week, including weekends.

On the other hand, employees must follow a schedule provided by their employers, likely to fall under the company's standard working hours. Employees must also adhere to the shifts their immediate bosses create.

Job security

The role of a traditional employee can be more secure than an entrepreneur's. Employees enjoy a fixed, stable income and a regular work schedule, and their job description can require them to fulfil the same tasks daily. For example, a customer service provider can work in an organization for 30 years and carry out the same roles.

Entrepreneurs operate their businesses, and their clients can influence the stability of the roles they fulfil daily. It is also possible for entrepreneurs to realize stability once their companies become more established.

Free self-assessment  Are you delivering inclusive learning?  By promoting inclusive education, we mean that we strive to meet the diverse  needs of all students in a way that is respectful, accepting and supportive.  Benchmark your institution against best practices!

Specialization

Employees get employment opportunities based on their specialization. Their job descriptions fall under the docket in which they have specialized in institutions of higher learning. They must present the relevant credentials to prove it to their employers. Their employers base the decision to hire them or send a regret letter depending on their mastery of a specific profession.

Entrepreneurs need to know a little concerning every section represented in their businesses but don't necessarily need to specialize in any of them. The employer can direct a specialist on what they expect from them and give them the necessary infrastructure or support they require to deliver. When they set up operational systems for the business, specialists take them through the procedures and user manuals they need to operate the platforms. They then can run the system from that point and release the specialist or hire them to manage the systems.

 

Flexibility in decision–making

Employees have little or no opportunities for decision-making because they have someone who is always planning, organizing, and controlling them. They can't decide on workplace changes without their bosses' authorization and approval. Employees lack the motivation to innovate because of the lengthy procedures they need before their ideas can be adopted.

Entrepreneurs are the sole decision-makers in their businesses and give directions to their subordinates. If the company needs restructuring, they only need to develop a blueprint on how to go about it before seeking the help of a specialist to fine-tune it.

 

Working remotely

An entrepreneur doesn't have to sit in front of a computer in his office to work. Some successful business owners use their mobile phones to manage their companies worldwide. Entrepreneurs successfully run their marketing campaigns, communicate with their clients and employees, and track their finances remotely using software and apps integrated into their phones or laptops.

Employees can also work remotely due to the current rise in technological advancements today but can only do so under the authority of their bosses. Despite technology for remote work being, available, an employer may still require employees to report to the office daily.

 

Final thoughts

Your graduate school can attract talented students if it offers an opportunity that prepares them for their careers. Providing entrepreneurship and employment skills is necessary for the university, which should run alongside core curricula.

You can use the above factors that differentiate employment vs. entrepreneurship to decide which learning formats you can adopt. It's crucial to balance learning methodologies that cater to graduates that want to fit in the job market. On the other hand, you must consider those who want to start an entrepreneurial journey after graduating.

When you demonstrate to your students that their career outcome is a priority in your university, your reputation can improve and attract more learners. Do you need any assistance to achieve this goal? Contact EHL Advisory Services for insights on formulating a tailor-made system that suits the needs of your students.

 

 
Written by

Got a story to share? Become an EHL Insights contributor

Learn More

TOOLKIT

INVEST IN EDUCATION: A 10-step process to tackle your school's biggest challenges.

1. Branding & Identity
2. Legal & Operating Requirements
3. Business Plan & Budget
4. Marketing & Recruitment
5. Facilities & Infrastructures
6. Staffing & Development Plan
7. Funding & Finance
8. Program & Curriculum
9. Policies & Procedures
10. Industry Relationships