Entrepreneurship: 2012 and Beyond!

Entrepreneurship is now more relevant than ever. Jobs in Malaysia are easily available albeit to the non choosy applicants. But entrepreneurship presents an opportunity to not just work but to solve problems and get rich doing it. Never in mankind’s existence has such a proliferation of opportunity presented itself so abundantly. Today’s technology has so effectively flattened the world that individuals can solve problems and provide solutions for those in a myriad of places they themselves have never considered or visited.

UNIRAZAK recognised that it is imperative for Malaysia’s future entrepreneurs to equip themselves with the proper tools and expertise for them to survive and flourish in today’s modern competitive economic climate. Entrepreneurs today face greater challenges in starting, funding, managing and growing their enterprise ventures in the wake of a rapidly changing business environment.

The Bank Rakyat School of Business and Entrepreneurship (BRSBE) is one of UNIRAZAK’s unique founding schools, and is dedicated to providing quality education in entrepreneurial and business leadership in Malaysia. BRSBE was formed with the view that entrepreneurial activity is one of the pillars of a strong and vibrant economy. Although big business is extremely vital for economic health and prosperity, a strong cadre of SMIs and SMEs is also essential to ensure a diverse economy and to provide the required support to big business companies and the community. BRSBE also recognises the fact that most wealth comes not from being employed, but by starting one’s own business, and that great products and services begin with a single idea. The problem is that many aspiring entrepreneurs are not skillfully educated enough to know how to convert their ideas into working solutions and practical businesses.

It is with these challenges in mind that BRSBE provides skills and competencies that are integral to becoming a successful entrepreneur. To this end, it has collaborated with US-based Babson College which has been the leading business school in the field of entrepreneurship for the last 15 years.

All the subjects are taught and delivered with the idea that students will run an actual business NOT tomorrow after they graduate but TODAY! And for that we imbue in our students a sense of responsibility and ownership for new high growth global business ideas. The posing of such challenges directly calls for entrepreneurial leadership be it in new ventures or social enterprises that benefit society.

Our Bachelor of Business Management (Entrepreneurship) (Hons) partners with Babson College, the #1 ranked school for entrepreneurship in the USA. A key requirement for graduation is for students to register, start and run in the black a business, whilst in university, with a potential revenue of RM1 million over 5 years before they can graduate. And this effort is guided and mentored by an experienced faculty trained by Babson College.

Our collaboration with Babson College, as the top entrepreneurship institution in the world, is both deep and wide ranging. We collaborate across all specialisations in the field of entrepreneurship e.g. social entrepreneurship, family business and women entrepreneurship, to name a few. The depth of our collaboration is seen in the visiting professors that come over and share the latest thinking in the field directly with our students. Additionally our faculty is regularly sent to Babson for induction courses and as members of the Global Consortium of Entrepreneurship Educators (GCEE) we have opportunities to invite specialists from Babson and other members of the concortium for key areas of programme design, research and teaching.

In this regard BRSBE prepares students  via a broad spectrum of studies that include Creativity and Innovation, Franchise Management, Business Plan writing, International Business, New Venture Management and Finance and Accounting. Our quality is maintained by having industry moderation at all levels, from exam papers to entire programme reviews by industry practitioners and professionals.

In tandem our boutique approach involves selection at every level; both of students, faculty and industry partners. BRSBE has increased its benchmark entry requirements and intake is becoming more selective. The reason is our programmes are demanding and we work to produce holistic students that have mastered both hard and soft skills.

These courses prepare graduates to analyse and solve real business problems. They are trained to identify the customers’ pain and provide a value added solution that is sustainable for the long run. Armed with such a foundation and with the guidance of our faculty, students will take charge and manage the new ventures; constantly competing and differentiating whilst still in the school. This hones their leadership skills as the decisions they take are their own. They may make mistakes but it affords an opportunity for reflection and review supported by a keen faculty mentoring approach. The school thus provides entrepreneurial leadership experience in real-time with real scenarios.

Nations today are aware that entrepreneurial actions as a collective agenda can effectively impact their Gross National Product. And most importantly it promotes inclusiveness for the business community. The success for entrepreneurs is not a given and even when obtained it is through innovative ideas supported by hard work driven by passionate individuals. It is thus crucial that students are provided the right kind of thinking and action through a comprehensive entrepreneurial education that is well tested. It has an impact that can spur the economy via value propositions that are based on solid foundations. And that provides the foothold to launch a nation into prosperity and beyond.

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