Monday 20 August 2012

Can entrepreneurship be taught?


Permission to reprint from Anthony Farr

For decades, entrepreneurship has been viewed as something risky and mysterious that only a few lucky mavericks could master. This perception has been fuelled by a public reverence for successful individuals, who seem to have had no formal training to which their entrepreneurial success could be attributed. Some educational institutions have also shunned or quashed entrepreneurship as a non-discipline, something unteachable and incongruous with traditional discipline-based courses.

Whilst the significance of entrepreneurship for a country’s economy is rarely disputed, the much-debated question is whether entrepreneurship is an elusive and exclusive “talent” that is inherent in some, or whether it can be taught and therefore extended to a wider segment of the population who will contribute to the growth of its economy. But I believe that entrepreneurship can be taught and that it is a process that begins with rethinking its definition.

Redefining entrepreneurship

“Our perception of entrepreneurship has to echo that of innovation and entrepreneurship” writes author, Peter Drucker, in his assertion that entrepreneurship is not magic; it’s not mysterious; and it has nothing to do with genes. “It is a discipline and like any discipline, it can be learned.” The first step is to realise that entrepreneurship is much more than starting a business. It is an innovation and opportunity driven attitude and mindset that is applicable across all areas of activity.

It therefore cannot be oversimplified or categorised as a subject to be done. The application of this understanding is especially crucial when it comes to instilling an entrepreneurial ethos at school level.

The role of educators

Education, its methodologies and content, life orientation tasks, camps, projects, role models etc, should activate an awareness of opportunities and be holistic. They have to be built into every school activity and not planned as another subject on the curriculum.

In this information age, schools should create endless opportunities for activating information through developing children’s ability to have insights which are then converted into permanent habits.

The role of curriculum designers and teachers cannot be stressed enough: Curriculum designers should be paying attention to cultivating, encouraging, and activating the mindsets that are required as prerequisites for business start-up, whilst teachers should develop cross-cutting methodologies that are used in all subjects that then become the creative vehicles for developing entrepreneurial attitudes.

This way, by the time pupils leave school they are prepared to participate entrepreneurially in anything they do. However, this is not an education that remains in the classroom. Parents would be well advised to look for opportunities to foster creativity and new projects with their children.

The role of government

According to Kristie Seawright, Executive director of the Global Economic Monitor, in order for entrepreneurship training to be productive in low-income countries, it needs to be complimented by beneficial government policies, infrastructure, and other basic requirements.

The first stage of instilling entrepreneurship as a culture is by rewarding it socially and financially by society. Whilst the social reward comes from each and everyone one of us celebrating and encouraging entrepreneurial individuals, the financial reward is primarily the government’s responsibility.

In many ways government controls the balance of a country’s risk reward equation, which is a key component in incentivising entrepreneurial activity. A key first action that government must take is to de-stigmatise financial failure. Bankruptcy related laws need to be amended to ensure that one business failure does not mean the end of a person’s career, but rather becomes a learning opportunity for future entrepreneurial success.

Yet there are two sides to this equation and government would be well advised to leverage the rewards on offer for entrepreneurial endeavour – a quick win would be by means of greater taxation concessions for start-up companies.

It is crucial for a developing country such as ours to stimulate and embrace an entrepreneurial spirit to achieve the much-required economic transformation and a stronger presence in the global economy.

There are no lucky individuals who magically acquire entrepreneurial success, just as there are no predictable traits that will give them a competitive entrepreneurial edge. There is no consistent profile of an entrepreneurial individual. Some are extroverted, others the opposite. The only common thread found across entrepreneurs is a deep desire for achievement and a discontent with the current status of a particular context.

In much the same way that a consistent proportion of the population across different countries excels at mathematics, it is likely that a similar proportion of the population are entrepreneurs. It is believed that this proportion is approximately 20%. In South Africa the actual level of entrepeneurship currently sits at 5% which leaves us with a deficit of 15%.

We need to understand why this deficit exists and attempt to unleash the latent entrepreneurial activity that should exist within that 15% .

These individuals do not need to be taught entrepreneurship as much as opened up to the possibility and then to be encouraged to exercise their natural ability in this area.

This does not exclude the remaining 80% of the population group where the question of nurture vs nature and whether entrepreneurship can be taught becomes even more amplified.

Not everyone can be an entrepreneur; however, it is imperative that the skills and attitudes of an entrepreneurial mindset are adopted more widely in response to the increased rate of change in society.

Inheritance Tracing Agency


Inheritance Tracing Agency is a wholly owned Namibian Company, managed and operated by Namibians. Established in 2010, ITA specializes in finding beneficiaries and unknown heirs as well as the re-unification of assets, by providing pro-active search services to individuals, companies and the legal entities in Namibia

According to the founder Andreas Hamutenya, The Company’s services promote consumer education and serves as a consumer protector. Clients can buy these financial products and services without hesitation knowing that they will actually benefit from such products in events of re-location or even death. Financial institutions are also benefiting in terms of administration costs reduction as these institutions won’t be dealing with the issue of making follow ups on where-about of untraceable clients. By seeking out sources of misplaced assets in situations where heirs can not be identified or located, the company boosts awareness, confidence and trust among the general public with regard to financial products and services, and hence creating, enhancing and developing the Namibian financial sector and the whole economy at large. 

ITA also helps Insurance companies trace clients who have stopped paying their premiums without any notifications. On successful trace, such clients are notified or reminded of their insurance policies and help bring them on board again. This will help insurance companies minimize lapses, and also increase revenue as more money will be flowing in from these traced clients. Taking proactive steps, demonstrates a commitment to corporate governance and social responsibility, reinforcing customer perceptions of financial institutions’ brands, says Andreas.

In Namibian, it’s estimated that millions of Dollars in life insurance and other types of financial payouts goes unclaimed each year due to lost or unknown policies. Insurance companies may not even be aware of members’ deaths, and find it difficult to track down beneficiaries.  In response to this problem of unclaimed benefits, the company has launched a registry database where members of the public can register the names of financial institutions that have their financial assets. The main aim of the database is to ensure that members’ efforts to secure their families’ futures don’t go to waste. This provides members and their beneficiaries’ peace of mind, ensuring that members’ financial legacies are not lost due to simple human error, passage of time, re locations, buyouts, natural disaster, or lack of communication. Your life insurance company, bank or pension fund administrator’s name will always be located somewhere for your designated beneficiaries to find it.

 
The database will allow registering categories of accounts such as life insurance, safe deposit boxes, annuities, investment/bank accounts or even simply stating the lawyer holding onto their WILLS, or people appointed as their EXECUTORS/ESTATE ADMINISTRATORS, or just any inheritable assets on the database. Members’ information will be protected with physical and digital safeguards similar to those employed by banks to secure online banking transactions.

Member information is further secured by the fact that ITA does not ask for bank account numbers or insurance policy numbers, bank balances/values or types of investments or policies. With only a name of the clients' financial institution, a thief cannot penetrate these two institutions without proper identification. In other words, any information to be gained by breaching ITA security measures would be useless for purposes of identity theft or other types of theft or fraud.  Further information SMS ‘’info’’ to 95559 or email: info@ita.com.na visit www.ita.com.na Telephone (061) 225186.

I will put you in your place


Don't ever mistake 
my silence for ignorance,
my calmness for acceptance
or my kindness for weakness

Had an opportunity to realise again that some people take my kindness for weakness.

Just because I am always taking life as fun, does not mean I do not have serious side. When I say NO, it means NO, even when I say it with a smile.

I had to learn that people only say and do what I allow them to. I might not walk around looking angry all the time, but I will put you in your place when I feel disrespected - and I will do it with a smile.

Thursday 16 August 2012

Showing my love for my neighbour


Paraphrased from Corinthians 13. The bible verse gifted to me by my Grandmother, Joyce Du Preez.

I have been taught three things are necessary in life: faith, hope and showing my love for my neighbour and the most important is showing my love for my neighbour.

Even though I can speak four languages and write computer programs, but do not show my love for my neighbour, I am like pirated music;
And though I can see future trends, understand social media and have an international blog; Even though I have faith that I will become President of Namibia, and do not show love for my neighbour, I am nothing and have no social influence;
Even though I am leaving my riches to feed the poor, and my body will be buried in heroes Acre, but do not show my love for my neighbour, it will not make me wealthy;

Because when I show my love for my neighbour,
- I lend my ears and give from my heart
- I am not jealous or resent the good fortune of my neighbour
- I am not arrogant or swollen with pride
- I am not rude
- I am not always seeking to receive my share or commission
- I am not easily irritated
- I do not think evil of my neighbour

I get angered by injustice and wealth inequalities and promote ethics and morality

I accept my own situation, believe, hope and endure all challenges

The love I show for my neighbour will never stop,
- even when my future predictions do not come true
- even when new technologies are not understood
- even when my skills become out of date

At this moment, I only know a little and can only guess to the future - When I reach heaven, I will no longer need to guess

When I was self-centred, I spoke about myself, understood only my own opinion, and thought only of my own well-being, now that I understand my part in society, I no longer think on those foolish, selfish things

While I am on this earth, I can only see shadows, but there I shall see clearly;
Now I am only aware of things fed to me through television and news, but only in heaven shall I fully appreciate the gifts God has given me.

I have been taught three things are necessary in life: faith, hope and showing my love for my neighbour and the most important is showing my love for my neighbour.