Dr. Sheikh Shahbaz Riad, a Professor at Government Teachers' Training College, Dhaka, has written an article titled "Why Entrepreneurship Education is Important," published in The Business Standard on January 30, 2025. The article emphasizes the need for entrepreneurship education in Bangladesh to foster creativity, innovation, and self-reliance among youth. However, it also highlights challenges such as outdated educational practices, societal barriers, and limited resources, suggesting that a more comprehensive approach is needed to truly empower students as job creators.
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Dr. Shahbaz Riad |
Dr. Sheikh Shahbaz Riad's article in The Business Standard underscores the critical role of entrepreneurship education in fostering innovation and self-reliance among Bangladesh's youth. While his arguments are compelling, a comprehensive analysis reveals additional layers to this discussion.
Challenges in the Educational Framework
Dr. Riad advocates for integrating entrepreneurship education across various subjects to cultivate an entrepreneurial mindset. However, the current educational system in Bangladesh often emphasizes rote learning over critical thinking and creativity. This traditional approach may hinder the development of entrepreneurial skills, suggesting a need for systemic educational reforms. Dr. Fahmida Khatun, Executive Director of the Centre for Policy Dialogue, notes that the path to entrepreneurship in Bangladesh is fraught with challenges, including difficulties in securing capital and a lack of clear investment guidelines.
Societal and Cultural Barriers
The article highlights the importance of nurturing entrepreneurial qualities but does not fully address the societal and cultural barriers that may deter individuals, especially women, from pursuing entrepreneurship. In many cases, social norms and expectations can discourage risk-taking and innovation, particularly among women. A 2017 article in The Financial Express emphasizes that both men and women in Bangladesh face significant obstacles in entrepreneurship, including societal expectations and limited access to resources.
Economic and Structural Constraints
While Dr. Riad discusses the potential economic benefits of entrepreneurship, such as job creation and increased national income, he does not delve deeply into the structural challenges within Bangladesh's economy that may impede entrepreneurial ventures. Issues such as bureaucratic red tape, inadequate infrastructure, and limited access to financing are significant hurdles that need to be addressed to create a conducive environment for entrepreneurs. Dr. Khatun also points out that marketing products is a significant challenge for small entrepreneurs, indicating a need for better support systems.
Global Perspectives and Local Adaptation
The article could benefit from a discussion on how global models of entrepreneurship education can be adapted to fit Bangladesh's unique socio-economic context. For instance, Sir Paul Collier, a development economist, advocates for localized, bottom-up approaches to economic development, emphasizing the importance of learning from both successes and failures in various contexts. Applying such insights could help tailor entrepreneurship education programs that are culturally relevant and effective in Bangladesh.
Conclusion
Dr. Riad's article provides a valuable starting point for discussions on enhancing entrepreneurship education in Bangladesh. However, addressing the multifaceted challenges—educational, societal, economic, and structural—is crucial for these initiatives to be truly effective. A holistic approach that includes educational reform, societal change, economic support, and adaptation of global best practices to local contexts will be essential in fostering a robust entrepreneurial ecosystem in Bangladesh.
Reference
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Riad, Sheikh Shahbaz. "Why entrepreneurship education is important." The Business Standard, 30 Jan. 2025. Link
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Khatun, Fahmida. "The path to entrepreneurship is not smooth in Bangladesh for both men and women." Centre for Policy Dialogue (CPD), Link
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European Journal of Business and Management Research. "Barriers to Entrepreneurship among Unemployed Educated Youths in Bangladesh." Link
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Collier, Paul. The Future of Capitalism: Facing the New Anxieties. Harper, 2018.
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Financial Times. "Entrepreneurial development and economic growth." Link
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