Entrepreneurship is a great way for financial freedom. However, a successful business required a lot of time, hard work and determination. Despite the risks and hardships, many entrepreneurs have started on this journey determined to build an empire for themselves as well as to fulfil the needs and demands of society. If you are a person who dreams big in making a profitable business by satisfying the needs of our society, but still unsure of how to start, then a degree in entrepreneurship can be helpful in guiding you to start a business and also sharpen your soft skills.
What is Entrepreneurship?
Video credit: Business Wales/Busnes Cymru
Entrepreneurship is referred to as the concept or process of creating a business that solves major problems and fulfilling the needs of society. The process includes creating an innovative product that challenges the existing condition of how we live our lives on a daily basis. Entrepreneurs are the first ones to take a step forward to making the world a better place for everyone.
An entrepreneur is an individual who creates a new business by taking risks in the pursuit of a new business, innovation, or other forms of enterprise. Successful entrepreneurs are rewarded with profits, fame, and growth opportunities. Entrepreneurs imagine the world differently and make extraordinary inventions that an average person would not imagine. For instance, Elon Musk sending people to Mars and Bill Gates and Steve Jobs making computers part of daily life.
What is the main Difference between Entrepreneurship vs Startup?
The main difference that sets apart between entrepreneurs and start-up owners is their goals.
An entrepreneur is an individual that looks for business opportunities and creates ways to make those businesses become profitable. Entrepreneurs always have a financial motive as their goals to succeed. They create business opportunities and business systems as well as utilize all the opportunities they get for financial freedom.
A start-up is a newly formed venture initiated by more than one entrepreneur to create business opportunities and make an impact in the market. Unlike entrepreneurs, startup owners measure success, not in terms of financial gain, but how they can make an impact on the world with their product or service. Their goal is to create a viable product for the people, hopes to change the world with it. Startup owners have a huge desire of proving to people that anything is possible.
Types of Entrepreneurs
Innovative Entrepreneur
This type of entrepreneur introduces new ideas, products or production processes, discovers new markets and reorganises the company’s structure. They are willing to take risks because they enjoy the excitement of a challenge.
Imitative Entrepreneur
Imitative entrepreneurs are those who literally copy the new inventions of innovative entrepreneurs. They imitate techniques and technology innovated by others. These entrepreneurs improve an existing product or production process and provide feedback on enhancing the use of better technology.
Fabian Entrepreneur
Fabian entrepreneurs are cautious and sceptical in bringing any approach to adopting or innovating new technologies in their enterprise. They adopt new technology only when they are convinced that failure to do so would result in heavy loss.
Drone Entrepreneur
Drone entrepreneurs are those who refuse to implement any changes in their enterprise. They prefer to do business in their own traditional methods of production and systems. Such people may even suffer huge losses but they are not willing to adopt changes in their existing business.
Characteristics of an Entrepreneur
Confidence
Entrepreneurs believe in achieving their goals. That does not mean they do not have self-doubts, but they will overcome it. With confidence, they will have the ability to stay on track without any discouragement or difficulties.
Optimism
Entrepreneurs are dreamers and always look at the bright side. They take challenges as opportunities to grow instead of problems that stop them from moving forward. It is difficult to succeed at anything if they don’t believe in positive outcomes.
Risk-taking
It is important for entrepreneurs to take risks in order to be successful. They do not take it lightly. They make plans for any uncertainties and make calculated decisions that are profitable for them and their business.
Vision
Entrepreneurs the bigger picture of what they wish to accomplish, which boosts their efforts to do more. Not only entrepreneurs, but it allows them to encourage others and motivate them to work towards the company’s success.
Passion
Entrepreneurs love what they do and they are extremely dedicated to the businesses they created. They are confident in themselves and their business, which makes them proactive with what they do.
Is a degree in Entrepreneurship worth it?
The degree in entrepreneurship covers the major aspects of starting a business compared to business studies. This course helps students learn how to determine their goals throughout the course and learn strategies to accelerate the growth of those objectives. Having a degree in entrepreneurship can give students a core grasp of business skills such as developing business plans, developing a client base and learning how to come up with start-up capital. These skills will be crucial to your success in starting your own business, and other business degrees cannot give you the same vast knowledge.
Studying entrepreneurship degree gives students the opportunity to try out ideas and come up with solutions to problems without facing harsh consequences. This practice allows them to make more mistakes and learn as they grow. Thus, when it comes to making decisions in real-life, they will have that experience and confidence they built to help them to make the right move.
What students will study in Entrepreneurship degree
A degree in Entrepreneurship is a 3 years programme where students gain an in-depth understanding of entrepreneurship through business planning, financing, marketing, management and consulting. Students will get to explore every aspect of a business and develop innovative and creative thinking skills.
Subjects that will be taught in this programme include;
- Introduction to economics
- Principles of marketing
- New venture creation
- Business research methods
- Entrepreneurship management
- Financial decision making
- Start-up business management
- Entrepreneurial behaviour
Career Opportunities with an Entrepreneurship degree
Many people who graduated with an entrepreneurship degree usually proceed in starting their own business. However, there are other career options that can be pursued for which an entrepreneurship degree can be fruitful such as the following;
Finance
Graduates can be part of guiding people who want to invest and grow their finances. They assess their clients’ financial needs and make decisions on their behalf to help them meet financial goals. Job in finance can equip aspiring entrepreneurs with communication, problem-solving and financial management skills.
Management
Graduates may work in developing and implementing various procedures to improve a company’s management and operations. They perform studies, collect data and introduce new ways of performing tasks to increase productivity within a workplace.
Sales
Graduates can be responsible for overseeing sales teams and guide them to ensure the team meets their sales goals. They may assist in setting sales goals, analyze sales data and trends and delegate sales tasks.
Business consultancy
With an entrepreneurship degree, graduates can work in identifying and fix common business issues for business owners. They can provide constructive criticism and train employees and even help business owners make the necessary modifications to improve their organization.
Academic Entry Requirement to study Entrepreneurship degree in Malaysia.
|
STPM |
Minimum CGPA 2.00 |
|
A-Levels |
A minimum grade of CCC |
|
UEC |
A minimum grade of 5Bs |
|
Foundation/Matriculation |
Minimum CGPA score of 2.0 |
|
Diploma |
Minimum CGPA score of 2.0 |
|
International Baccalaureate (IB) |
A minimum score of 24 points or above |
*The requirements may vary among universities, for inquiries on other entry requirements, contact Excel Education.
Top Universities to study Entrepreneurship degree in Malaysia
#1 Taylor’s University
Image credit: The Star
This programme is inspired by the Finnish Team Academy programme, Finland. This programme is an innovative, highly experiential and student-centred approach based on learning through project work, team support, coaching and enhancing personal competencies.
Program | Bachelor in Entrepreneurship (Team Entrepreneurship) (Honours) |
Intake (2021) | January, March & August |
Duration | 3 years (Full Time) |
Indicative Fees (2021) | Local: RM 84,050 International: RM 102,030 |
#2 UOW KDU Malaysia
Image credit: UOW KDU Malaysia
The School of Business in UOW KDU initiated its own Enterprise Centre and partnered with Malaysia Practice Enterprise Centre (MyPEC) for its business simulator program where students work in teams to run a business and solve its challenges in a virtual environment. This teaches students the various methods of facing different situations, taking calculated risks and learning from failures.
Program | Bachelor of Business (Hons) (Entrepreneurship) |
Intake (2021) | January, March, May, July, September & October |
Duration | 3 years (Full time) |
Indicative Fees (2021) | Local: RM 71,625 International: RM 80,100 |
#3 Curtin University Malaysia
Image credit: Curtin University
Curtin University allows students to pursue their careers in the management of small and medium retail, export or sales enterprises. This course has a practical emphasis and is guided by a philosophy of teaching which focuses on interactivity, student participation and lifelong learning.
|
Program |
Bachelor of Commerce (Accounting and Entrepreneurship) |
|
Intake (2021) |
February & July |
|
Duration |
3 years (Full time) |
|
Indicative Annual Fees (2021) |
Local: RM 22,400 International: RM 33,128 |
#4 Brickfields Asia College (BAC)
Image credit: Brickfields Asia College
This programme provides a comprehensive and integrated understanding of business in both contemporary and international aspects. Students will develop entrepreneurial and creative skills and learn to apply them to real-life situations. This programme also offers a Dual Award Degree Programme from De Montfort University, UK.
|
Program |
BA (Hons) Business Entrepreneurship & Innovation |
|
Intake (2021) |
January, April, June & September |
|
Duration |
3 Years (Full time) |
|
Indicative Annual Fees (2021) |
Local: RM 20,000 International: RM 25,000 |
#5 HELP University
Image credit: HELP University
The programme’s curriculum incorporates the traditional elements of management education with the study of content, skill, and other areas that relate to entrepreneurship. Students will develop a detailed understanding of the entrepreneurial process through a combination of academic and clinical experiences.
Program | Bachelor of Business (Entrepreneurship) (Hons) |
Intake (2021) | January, March, May, August, October |
Duration | 3 years (Full time) |
Indicative Fees (2021) | Local & International: RM 62,300 |
Contact us to find out more!
Student enquiries:
Call/Whatsapp: +60182414802
Email: [email protected]
About the Author
Sasvin Ravi
I am a freelance content writer, writing on a weekly basis while discovering my true passion..
