The future of Entrepreneurship

tuckshop the future of entreprenuership

Everything has a past, present and future and so is entrepreneurship. We have great explorative names in the field of entrepreneurship who excavated, bulldozed and levelled the entrepreneurship road and left it at some point where it was easy for others to identify and pick it up from. Among the main proponents are Joseph Schumpeter, Say and Kirzer. They came up with their own theories with regards to entrepreneurship and the ultimate drive behind each force. In as much as we must be planning about the future of entrepreneurship, we must equally be worried about the current state of entrepreneurship for it has a bearing on the future. Entrepreneurship is overrated in most African countries, Zimbabwe included. What is called entrepreneurship in most circles is far from it. Only when we know what entrepreneurship is, that is when we will be able to actualise it.
Entrepreneurship defined
Entrepreneurship entails the unique and innovative configuration of resources, material and otherwise in a business venture in response to current and emergent socio-economic challenges bearing all the risks inherent in such an endeavour in anticipation of profits.

My definition of entrepreneurship brings out the issue of current and emergent socio-economic challenges which are the now and then issues that entrepreneurship strives to solve. Emergent challenges speak of the future. In as long as man exists, entrepreneurship still remains relevant as it seeks to solve challenges bewildering mankind. Relevance of entrepreneurship As each day passes, life becomes more complicated and as such calls for well-polished advanced solutions. Entrepreneurship then sets in by providing such solutions in the form of new products and services. It is from the act of entrepreneurship that we have the technology that we use, the ability to navigate the space through space ships, jets and helicopters. The process necessitates the issues of choices by humans. You can only be able to choose from what’s available. Such availability is brought about by entrepreneurship acts.

The future of entrepreneurship
The population factor
The world’s population continues to grow and this is an indication that there are going to be more and more products and services required to meet the growing numbers. This factor tells us that entrepreneurship is going to remain relevant even in the unforeseeable future. The kind of children that are being born are more intelligent than us. This means their demands are also higher-level demands which also calls for innovation on the end of production to meet the high-level demands.

The nascent challenges factor

Most graduates have awakened to the reality that there are no jobs out there and the only option is to start their own businesses.
This is a welcome mentality as it plays a big role in employment creation. The education that needs to go into this generation is innovation and originality. The world is tired of people who’re mutilated by the tuckshop mentality and the copy paste syndrome. These
graduates should rather think of ways of improving or challenging the status quo into new discoveries which will solve the current and emergent challenges. As globalisation continues to be the new normal, there is free flow of information, expertise, technology
and people across the geographical divide. This has its own pros and cons as it is an opportunity for developed countries to find markets and better investment opportunities in less developed countries.
For the developing and underdeveloped countries, it also brings a multifaceted dilemma for they might want the products while at the same time wanting to protect their upcoming entrepreneurs from unnecessary competition as they explore various ways of bringing up new products and services into the market. Looking it from another angle, these new entrepreneurs also stand a chance to benefit from the incoming technology and know-how.

Looking it from another angle, these new entrepreneurs also stand a chance to benefit from the incoming technology and know-how. So, what’s required is to institute some form of balancing act in the form of regulations which allows free flow while at the same time protecting the business infants.

The technology factor
Innovation and continuous improvement is one of the hallmarks of entrepreneurship One thing that will never remain static is technological advancement. As technology improves, it means productivity improves as new and more automated ways of manufacturing products and delivering services are unveiled.

It is only unfortunate to those who would want to fall in love with old ways of doing things for they will surely become irrelevant.
The uncertainty factor
The future has never been kind due to the uncertainty factor. It is through our thoughts, strategies and actions that makes the future brighter and better. The same uncertainty is what pushes entrepreneurs to continuously advance their cause, becoming more and more explorative in search of solutions. In summing it up, entrepreneurship makes the world tick. As the world revolves, so should entrepreneurship. Innovation remains the pith of this higher order level of doing business. Determined to engage, inspire and transform generations.

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