Impact of Globalization on Trends in Entrepreneurship Education in Higher Education Institutions Essay - 3892 Words

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Impact of Globalization on Trends in Entrepreneurship Education in Higher Education Institutions

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Text Preview International Journal of Trade, Economics and Finance, Vol. 3, No. 4, August 2012

Impact of Globalization on Trends in Entrepreneurship Education in Higher Education Institutions Norasmah Othman, Nor Hafiza Othman, and Rahmah Ismail


Abstract—With the trend of increasing globalization, entrepreneurship has been receiving more attention from government and educational institutions. Changes in the uncertain world economy have resulted in fewer job opportunities for college graduates, and in response, the government has sought to develop creativity among students through entrepreneurial activities and programs. The question now is, Are the increasing trends of changes and demands for entrepreneurship education due to the impact of globalization? To answer this question, this study examined the impact of globalization on trends in the demand for business and entrepreneurship education and entrepreneurial skills in Malaysia. Questionnaire data were obtained from 306 participants. The participants were randomly selected from the population of administrators in higher education institutions in Malaysia. Data were analyzed using the descriptive statistics method. The findings show that there is an increasing demand for entrepreneurship education and entrepreneurial skills, indicating that globalization has influenced the demand for entrepreneurship education and entrepreneurial skills among university graduates. Index Terms—Globalization, higher education, entrepreneurship education, entrepreneurial skills.

I. INTRODUCTION Globalization has demanded a more competitive, knowledgeable, creative, and innovative workforce, and Malaysia’s education system has adapted to meet this need [1]. In the era of globalization, terms such as knowledge society, knowledge workers, and knowledge economy (k-economy) have added a new paradigm to the field of knowledge, especially for higher education institutions (HEIs) [2], [3] states that switching to a k-economy is a necessary transformation in the era of globalization, as economic competition among countries is expected to intensify. In order for a nation to compete in a globally competitive economy, HEIs play an important role in the development of knowledge and human capital. The globalized world economy has resulted in an increasingly challenging demand for college graduates to be competitive and creative. Thus, it is essential to ensure that HEIs successfully transmit the appropriate, quality knowledge and skills needed to make the Malaysian Manuscript received June 10, 2012; revised July 10, 2012. N. Othman is with the Faculty of Education, University Kebangsaan Malaysia, Bangi, Selangor, Malaysia (e-mail: [email protected]). N. H. Othman is with the Faculty of Education, University Kebangsaan Malaysia, Bangi, Selangor, Malaysia (e-mail: [email protected]). R. Ismail is with the Faculty of Economy and Management, University Kebangsaan Malaysia, Bangi, Selangor, Malaysia (e-mail: [email protected]).

workforce ―world class human capital‖ [4]. Governance variables play a vital role in shaping people’s perception of various aspects of the economy and society [5]. Under the Tenth Malaysia Plan, the government is committed to developing creativity through efforts to incorporate elements of entrepreneurial innovation into the school curriculum, focusing on R&D. It also aims to increase the availability of risk capital [6]. These moves reflect that countries around the world are realizing the significance of entrepreneurship and the importance of adopting it as a means to boost employment and economic development [5]. Furthermore, changes in an uncertain world economy have resulted in fewer job opportunities for college graduates. The number of unemployed persons in Malaysia increased from 385,300 in 2009 to 391,400 in 2010 [8]. Thus, the problem of unemployment among graduates is far from underestimated, and it presents a significant challenge for HEIs [9]. HEIs need to create human capital... Show More

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