ENTREPRENEURSHIP

ASSIGNMENT

ENTREPRENEURSHIP ASSIGNMENT

Submitted to: Ms. Mahwesh

Jabeen
Submitted by: Ayesha Shaikh
(TS-015)
Date: May 20,2019
 ENTREPRENEURSHIP ASSIGNMENT 2019

Table of Contents

1. INTRODUCTION ............................................................................................................... 2

1.1. Definition of Entrepreneurship .................................................................................................. 2

1.2. Background ................................................................................................................................ 2

1.2.1. Origin………………………………………………………………………………………………………………………………2

1.2.2. Theories of Entrepreneurship.………………………………………………………………………………………..2

1.2.3. Entrepreneurial Societies in Pakistan.……………………………………………………………………………..2

2. LITERATURE REVIEW .................................................................................................... .2-5

3. RESULTS .......................................................................................................................... 5

4. RECOMMENDED REFORMS .............................................................................................. 5

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1. INTRODUCTION:
1.1. DEFINITION OF ENTREPRENEURSHIP:

Entrepreneurship is defined as the capacity and willingness to develop, organize and manage
a business venture along with taking of financial risks to generate profit.

1.2. BACKGROUND:
1.2.1. Origin:

The word “Entrepreneur” originates from 13th century French verb “Entreprendre” which
means “to begin something or undertake”. In French and English, a business is
“entreprise”. Putting two and two together, an entrepreneur is someone who undertakes an
entreprise.

1.2.2. Theories of entrepreneurship:

The number of entrepreneurship theories fall under 5 main categories which includes:

 Sociological entrepreneurship theories.

 Psychological entrepreneurship theories.
 Anthropological entrepreneurship theories.
 Economic entrepreneurship theories.
 Resourced-based entrepreneurship theories.
 Opportunity-based entrepreneurship theories.
1.2.3. Entrepreneurial societies in Pakistan:
 LUMS Entrepreneurial society:
 IBA Entrepreneurship society.
 SEEDS (Social Entrepreneurship and equity development)
2. LITERATURE REVIEW:

Pakistan’s entrepreneurial culture is characterized by constraints and challenges faced by

young entrepreneurs.

The first is the social constraints, which are related to the collectivistic and family-oriented
culture of Pakistan. The majority of our society has advanced greatly in education but it still
remains entwined in the old cultural and family values inherited from its ancestors.

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To overcome this constraint, there stands a need for young entrepreneurs to build the
confidence of their family members in the execution of their university business ideas into a
small startup venture. Educational institutions can play an essential role in creating a
favorable environment for students to polish their entrepreneurial skills.

Educational bureaucracy is another major constraint faced by the young entrepreneurs in

Pakistan. Universities in Pakistan are largely regulated by Higher Education Commission
(HEC) and its subsidiaries. Professors majorly evaluate the student projects based on the
theoretical application of concepts they have taught rather than analyzing their commercial
viability. Professors and other faculty members in universities lack practical competence in
inculcating entrepreneurial vision amongst the students. They primarily focus on completion
of course contents aimed at addressing the needs of the employees in the job market rather
than entrepreneurs.

In Islamabad, on August 19, 2016, the two-day International Symposium on Technology

Entrepreneurship and incubation organized by National ICT R&D Fund in collaboration with
Institute of Business Administration (IBA) Karachi and Higher Education Commission
(HEC) began at HEC Secretariat. The purpose of symposium is to develop entrepreneurial
mindset and share latest ideas and developments in the area of entrepreneurship and
incubation with faculty members, managers of incubators and ORIC managers. It aims at
encouraging entrepreneurs, start-ups and incubators in bringing new ideas and implementing
them in an effective manner.

Pakistan@100: Shaping the Future argues that Pakistan’s young and growing population of
208 million is its greatest asset. Pakistan can and should turn its large youth bulge into a
demographic dividend that drives economic transformation.

According to Global Entrepreneurship Monitor’s 2010 report, Pakistan lags in start-ups, with
less than half the rate of early-stage entrepreneurial activity found in other factor-driven
economies. Part of the problem is that most young people coming out of universities prefer
searching for a job instead of exploring entrepreneurial career opportunities. This is one of
the key findings of CIPE-P@SHA dialogue with students and start-ups. Even young people
who choose to enter paid employment often have trouble finding a job, are badly paid, or
wind up in casual or informal jobs, according to the World Bank.

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The Global Entrepreneurship Index is an annual index that measures the health of the
entrepreneurship ecosystems in each of 137 countries. In 2018 GEI ranking, Pakistan ranked
120 with GIE value of 15.6.

3. RESULTS:

Most entrepreneurial activity in the country is necessity-driven and the rate of enterprises
established as a result of opportunity motivated entrepreneurship is much lower. The attitude
towards entrepreneurship in Pakistan is generally not that favorable, however, aspirations for
entrepreneurship are high, and people residing in metropolitan cities perceive that they have
the skill set and knowledge required to start off a venture. Academic entrepreneurship is an
emerging theme in the higher education institutes of Pakistan. These institutes could be the
most important source for deriving knowledge based economy through adapting
entrepreneurial creation or academic entrepreneur.

4. RECOMMENDED REFORMS:

The discussion concluded on the notion that educational institutions can play a positive role in
mentoring future entrepreneurs thus creating a sustainable entrepreneurial eco- system in
Pakistan. Entrepreneurship will only get the strategic visibility it deserves, when we start
discussing Pakistan’s entrepreneurs in our classroom at school, college and university level.
We cannot stimulate entrepreneurial zeal in students by teaching them about entrepreneurship
using examples from the west. The examples need to be more relevant and in context to
Pakistan’s environment. This report extends the future recommendation into Pakistani culture
that provided the integrative perspective of corporate entrepreneur. The literature review of
the report highlight the factors that university academia think to reconsider in order to
improve and encourage entrepreneurial mind among the university faculty by the higher
authority. Entrepreneurship education at the university level provides the opportunity for
students to be more aware of the latest developments, which allows them to have a more clear
vision on how they can implement these developments into future business

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