delivery modes

7. Upgrading your skills for becoming entrepreneur/intrapreneur –

Preferred types of training delivery modes

Key findings:

There are two things that survey respondents consider to be crucial in their efforts for upgrading and retaining their own skills:

 Discuss / exchange views with other entrepreneurs  Gain practical experience

Knowledge and skills insufficiencies may be addressed by well-organized and delivered training. Section VI of the survey provided an opportunity to the respondents to choose what type of training and the way of learning they think would work best in their case. The answers are provided in Chart 24 and Chart 25.

Chart 24

According to the results presented on the chart, only 19,8% of the interviewees stated that distant learning is the most preferred method for them, but just below that particular question, there is an increasing percentage (23,4%) that stated that their most preferred method would be studying by themselves.

Based on these results it appears that the most beneficial learning method for them would be the semi-formal exchange of experience with other entrepreneurs who have been through the process of succession previously. 67,6% stated that this is the most preferred method for them. 63% said that they would prefer face-to-face training sessions and 52,1% said that most beneficial for them would be experiencing from other people.

Very few respondents (7% or 8 people) said that they would not prefer face-to-face training sessions.

Chart 25

According to data presented on the Chart 25 it appears that in N. Macedonia gaining practical experiences is consider the best way of retaining skills. Also, over 50% of survey respondents state that understanding how they learn the best, learning in multiple ways, and asking new questions that will lead to new learning are important ways for retaining skills.

8. Comparative analysis of “Problems”, “Skill Gaps” and “Knowledge

Adequacy” among surveyed

Regarding the entrepreneurship program components, nearly all of the youth realize the importance of the entrepreneurial training modules and components. This presents their high level of awareness and usefulness of the entrepreneurship trainings and explains the high interest in taking part of the survey, especially from the youngest group, the high school students. They are all determined in gaining entrepreneurial or intrapreneurial skills and mindset.

However, the analysis shows that most of the problems related to entrepreneurial competencies have to do with the youths incapacity to cope with all the functions of an entrepreneur. A skills gap that was found in the analysis was their lack of understanding and using for management purpose the cash flow statement and lack of knowledge and understanding the profitability ratios.

About two third of the respondents stated the skills to generate, assess, and select business ideas, make smart goals, and to knowhow to match their ideas with their own personal competencies as of extremely high importance. This skill gap has probably much to do with the clear vision of the market, the market needs and the market demand. This skill gap must be implemented in the training program for the youth.

Majority (from 57% to 67%) of the respondents reported skill inadequacy in all skills in the marketing set of competencies, therefore all skills listed must be included. The training should cover: how to make effective market survey and needs analysis, how to define market needs and potential, how to understand and implement 5 Ps in a marketing mix strategy, how to understand and implement the importance of digital marketing, how to create and execute a marketing plan, and enhancement of selling skills.

In the process of organization and production management there were also a lot of skill gaps noticed among the survey participants. They include problems in time management, to organize the work flow and to understand types of cost and to be able to calculate and predict cost. Less than 50% of the survey participants consider planning and describing the production process flow as not of so high importance.

Financial competencies were also found as a great training need. Most of the survey respondents (over 60 % of them) rated themselves “not sufficient” on understanding and reading the balance sheet, understanding and reading the profit and loss statement, to know and understand the profitability ratios, and, as well as undertaking effective financial calculations for business purposes. All must be included in the training program.

Finally, business planning as a skill gap was present in the respondents’ problems in how to be able to understand and prepare a business plan and how to undertake business plan presentation in front of donors, client etc. It is of high importance for the young participants

to acknowledge the steps in business plan preparation and the skills for presenting that plan in front of interested entities.