ENTREPRENEURSHIP AS AN ALTERNATIVE TO YOUTHS SEEKING FOR JOB.
Entrepreneurship
is the ability to create and build a vision from practically nothing.
Fundamentally, it is a human creative act; it is the application of energy to
initiate building an enterprise or organization, rather than just watching and
analyzing. It is the ability to sense an opportunity when others see chaos,
contradiction and confusion (Schumpeter 1950).It may mean reviving an existing
business for capitalizing on fresh activities.
Scholar Robert .B. Reich provided the
following essential qualities of an entrepreneur; Leadership, Management
ability and, team building. This is applied by Larry, Mengi and Bill gates. Entrepreneurship can be an alternative for youths looking for job in the following
ways:
Owning
a business, firm or venture. This gives independence and opportunity for
entrepreneurs to strive for their economic prosperity. It gives opportunity to
get control of their own (their own bosses). For example Larry Page (1976) and Sergey Brin who are the founders of Google, the most profitable
internet business and Henry Ford(1863) was an American industrialist, the founder
of the Ford Motor Company.
Individual youths reap high profits through
creativity and innovations. Individuals take all the challenges. It is
therefore a best way to accumulate wealth. For instance Joe Dudley, an American
businessman and hair care entrepreneur. President and CEO for Dudley Products
Inc., a manufacturer and distributor of hair and skin care products for the
African American community. Also Mark
Elliot Zuckerberg(May1984),a Harvard dropout who turned became world’s youngest billionaire in the year 2008 as the founder of the social
networking site Facebook. He has been awarded ‘The Time Person of The Year
2010′.
Entrepreneurship
makes youths to work to their full potential. Launching a business to youths is
a tool of self- actualization and self-expression, creativity, and skills. For
example Reginald Mengi, an avid philanthropist, the founder and
Executive Chairman of the IPP Group, one of the largest East African industrial
groups consisting a Financial Consulting firm, soft drink bottling partnership
with Coca Cola, detergent and toothpaste manufacturer and IPP Media.
Entrepreneurs establish business closely
associated with their interests. Furthermore, there is no particular age for
retirement of entrepreneurs. It therefore offers a chance to pursue their
interests. An example is Bill Gates Oct1955 (wealth $59 billion), one of the
world’s alive richest men and the founder and present Chairman of Microsoft who
revolutionized the computer world with his entrepreneurship and business
tactics.
The youth through entrepreneurship introduce
new technologies for which they create jobs and employment for others too; for
example Dell Company found by Michael Dell in 1984. They therefore
mobilize capital resources; they develop new markets, and discover new sources
of materials to enjoy comparative advantage in terms of supply, cost and
quality. Also Steve Paul Jobs, born February 24, 1955 was the co-founder and
CEO of Apple Inc, NeXT and PIXAR.
To sum up, educators have to
create a wide variety of programs and activities to provide youths and students
with the experiences that nurture the spirit of entrepreneurship everywhere,
for instance institutions like RUCO, SUA, UDOM, UDSM, IUCO, MUCE, among others teaching
development studies (to produce job
creators and not job seekers).People should consider alternatives
of running their own businesses rather than doing jobs for others.
