World Entrepreneurs’ Day August 21, 2022: Highlighting Entrepreneurial Skills and Employability Skills

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World Entrepreneur's Day

Sheatwork examines a comparison of employability & entrepreneurial skills on
World Entrepreneurs’ Day (August 21, 2022).

What is the importance of a day for entrepreneurs? Every year, August 21 is celebrated as World Entrepreneurs’ Day – a day which celebrates the innovation and empowerment of entrepreneurship and leadership around the globe. In fact, entrepreneurship is crucial not just for job creation, but it forms an incredibly essential part of problem-solving in business and the growth of our economy too.

An enterprise is a significant engine of economic growth, according to the Global Entrepreneurship Development Institute (GEDI). Without enterprise and entrepreneurs, there would be minimum innovation, less productivity growth, and few new jobs. This modern, innovative world has been built by entrepreneurs – strong men and women who invented something from nothing, created employment and made the business universe what it is today. So, can we say the present was constructed by enterprising entrepreneurs?

This day is indeed, celebrated to acknowledge entrepreneurs in building a new world.

Developing relevant employability and entrepreneurial skills and competencies is
important.

Here we look at a comparison of employability and entrepreneurial skills. In today’s Digital Era,
what is required is innovation and individuals – to develop relevant employability and entrepreneurial skills and competencies to find jobs, start a business and make progress. Employability and entrepreneurial skills are crucial for sustainable industrial development in the digital era. Unemployment can be controlled easily if the employees and employers have proper employability and entrepreneurial skills. Employability and entrepreneurial skills are both similar and so different in many ways. Significantly, the development of employability skills depends on the entrepreneurial skills of employers.

So, with evolving changes, adopting new ways of digital learning in online environment, along with entrepreneurship skills, is the need of the hour. Entrepreneurship skills build competencies in learners and increase their capability to put knowledge into action out there, and develop enterprises. Thus, students with entrepreneurial skills have better employability skills and can prove to be an advantage to the workforce, the community and the country’s economy.

It was announced recently, that a dozen modules of essential and common ’employability skills’ will be added mandatorily across all skill-based qualifications and vocational courses being offered by various institutes in the country, to ensure candidates are ‘job ready’ and in sync with industry requirements.

Work is on to offer nearly 300 ‘future skill’ courses – ranging from drone technology to EVs and Internet of Things to up the employability quotient of India’s vast youth population.

Four National Occupational Standards (NOSs) have been designed by the National Skill Development Corporation (NSDC) for implementing across ITIs, training centres and possibly even conventional educational institutes. All India Council of Technical Education (AICTE) which regulates all technical education in the country as well as industry feedback, has flagged off some action too. The aim is to ensure that the job roles/skilling courses are holistic and cater to the dynamic industry needs, by imparting the trainees with adequate employability skills (ES).

The Centre is also considering how to develop a range of ‘future skills’ across domains such as drone technology, internet of things, robotics, electric vehicles, artificial intelligence and machine learning, 5G technologies and mechatronics among others. Read more

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