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Private Sectors And Public Private Sectors To Improve The Entrepreneurial Mindset In Young Jamaicans?

1392 words - 6 pages

Northern Caribbean University

College of Business and Hospitality Management

Chapter 1

Assignment

Presented in Partial Fulfilment

Of the Requirements for the Course

Business Research Method: BSAD

Andrew Chin: 18100460

Petekaye Clarke: 11100138

Ellsworth Dixon: 26120390

Hervel Walker: 11100193

Dana Sinclair: 11090085

Denique Mitchel: 11100136

September 29, 2014

Northern Caribbean University

College of Business and Hospitality Management

Chapter 1

Assignment

Presented in Partial ...view middle of the document...

D

Date Completed: November 2014

This study is to examine the causes of the ineffective mindset of entrepreneurship of young people in Jamaica. Undergraduate students are to be interviewed on their perspective of entrepreneurial practices. We supposed that the government as well as private and public-private sectors plays a major role with the lack of innovation among young people. We hope that our theory will be proven accurate after the administrations of surveys and interviews.

Chapter 1

Background of Study

The relevance of entrepreneurship to the development of any society can never be fully explained. Entrepreneurship forms the backbone of developing nations and even more important to the continued growth of a society is the nurturing of future entrepreneurs. Encouraging the mindset of young people to be more interested in entrepreneurship is a relevant study due to the current macroeconomic conditions in Jamaica. This study will provide crucial insight into what is it that is preventing more young educated people from becoming entrepreneurs? Also it will explore what can be done? In encouraging an entrepreneurial mindset among young people there are a number of factors that must be taken into consideration. One factor is the economic stability of the environment. Another factor that is important is if entrepreneurship is encouraged in our schools. The research that we will be conducting will seek to explore how to encourage entrepreneurship in young people.

In Jamaica,

Statement Problem

The number of young entrepreneurs in Jamaica get lesser and lesser each year, usually Jamaicans view entrepreneurship as a last resort and never view it as the opportunity to create a company, provide employment and operate a successful business. The entities that we look to such as the government and the private sector are not doing enough to encourage young minds to strive to be an entrepreneur.

Several methods were suggested to remedy this problem; however one stands out, providing entrepreneurial and inspirational coaching. Entrepreneurs were not born as entrepreneurs, they had the right mind-set and it is our belief that this mind-set can be taught, nurtured and developed in young people.

The Jamaican economy is struggling, it does not hold too many job opportunities for us as youths, therefore we must strive to become successful entrepreneurs and in order to do this, and we must first be equipped with the right mind-set.

Purpose of Study

The purpose of our research is to address the problem “What can the government and other agencies mentioned do to encourage the entrepreneurial mindset in young Jamaicans?” We realized that young Jamaicans have a negative outlook on entrepreneurship because of the persistent economic factors that give a daunting impression of entrepreneurial success such as: government regulations and...

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