Impact of Digital Entrepreneurial Education in Pakistan on Economic Benefits

Digital technologies are ‘‘products or services that are either personified in information and communication technologies or enabled by them’’. They exist as digital tools and infrastructure, digital platforms, or artifacts with digitized components, applications, or media content. Common to all types of digital technology is the decoupling of digital information from the physical form of the material device and the separation of semiotic functional logic from the physical embodiment that executes it.

Digital technologies have been characterized in several ways, but common to these portrayals is a focus on their ambivalent ontology. Because they embody digital capabilities, digital technologies can become malleable, editable, self-referential, and interactive, traits that allow them to evolve continuously even after implementation and use and to generate new forms of agency, both within and across processes.

Problem Statement

Digital educational entrepreneurship is a relatively young field and there are problematic issues, such as tensions between meeting social objectives and growth, and addressing the needs of policymakers seeking to use enterprise as a form of capacity-building to replace public sector provision. But it provides a frame of reference for “responsible” entrepreneurship education and learning, based on the principle that entrepreneurial activity can create social good whilst reinvesting financial returns in community development.

Stakeholders presume that certain mechanisms must be present in order to popularize the issues of digital education by ensuring proper disclosure and transparency.

Research Question

As this study provides some sound background for the future studies so there are few questions which are needed to explore through this study.

What is the impact of digital entrepreneurial education on economic benefits?

Significance of the Study

This study will expose the students to the need of financial education concepts. This study therefore aims to inform, enlighten and create understanding of the need of digital entrepreneurial education so as to prevent senior students from being engaged in deceitful transactions. This study will also inform to other stakeholders, the importance of the digital entrepreneurial education.

Objective of the Study

The objective of this study is to investigate the impact of digital entrepreneurial education on economic benefits in Pakistan.

Scope of the Study:

This study will contribute in confirmation of the determinants that are considered to be more influence able for performance measurement. Findings of this study will help students, policy makers and the other research scholars in Pakistan.

Literature Review

Entrepreneurship Education (EE) enhances the entrepreneur culture and motivated in corporate sector globally. Kuratko considers more entrepreneurship program and courses, either in the educational or training systems is more clear sign of that appreciation and concurrently clears that entrepreneurship or at least positive features of it, can be taught.

Recent research on EE has been focused on characteristics of the entrepreneurship education program (EEP) as the individual program, the participants and the effect of the EEP on self-efficacy or risk-taking intents. However, the multiplicity of EEPs with a broad range of short term objectives, target audiences, format and pedagogical approach, goals, designs and philosophies that arise in the HEI, displace up practically unachievable to study programs, namely regarding the effectiveness of methodologies, resources, achievement of objectives and learning outcomes.

In more general studies, formal education has generally been found to have an influence upon engaging in entrepreneurship, but when it comes to the success of subsequent entrepreneurial activities, when controlling for previous start-up experience, education was not seen to have any significant impact. It was concluded, that ‘‘even the most specific type of explicit human capital, formal education as provided by business classes, only succeeded in increasing the pace of gestation activities, not in affecting critical outcomes’’. By contrast, research focusing upon the digital economy and the technology industry overall have shown human capital in the form of business and technical knowledge to increase start-up performance.

The relationship between entrepreneurship and economic growth on its own does not justify government intervention, there must also be some market failure. A large economics literature identifies three broad types of market failures. First, it has been established numerous times that asymmetries of information generate inefficient market equilibrium. The works of Akerlof, Greenwald & Stiglitz, and Haltiwanger amongst others shows how various types of information asymmetries lead to an undersupply of worthwhile economic activities. Second, a large innovation literature discusses the ‘public good’ nature of information (Arrow, 1962). They consider the underlying ‘institutions’ that are required for market transactions (Douglass, 1990). Formal models point to the existence of multiple equilibrium, such as the seminal work of Murphy, Shleifer, & Vishny about the big push.

EE business creates new era of business and enhancement of growth of business management. With the goal to grow entrepreneurs MBA courses for graduates to the School of Business and Management (SBM) of the Bandung Institute of Technology (ITB) showed a research for the design of those courses but they planned to representation students to local cultures and creative resources, to develop students' mindset of creativity, design thinking, and innovation. Also the literature review says that benchmarking with other schools and institutions – in their case related to business, creativity, cultural, and entrepreneurship education - have revealed to be a relevant source for different aspects of course design.

Theoretical Framework

Following is the mathematical equation will be estimated with the help of dependent and independent variable.

〖EB〗_1=β_0+β_1 DEE+e…………………(i)

EB=Economic benefits, DEE=Digital Entrepreneurial Education

Hypothesis

In this study, Digital Entrepreneurial Education will be taken independent variable. Economic Benefits will be taken as the dependent variables. According to dependent and independent variable, the hypotheses of the study are

H1: There is effect of Digital Entrepreneurial Education on Economic Benefits

Research design& methodology

Following things will be included in this research design.

Research Approach

Research kind used to see impact of digital entrepreneurial education in Pakistan on economic benefits is descriptive. Descriptive study aims to describe the features of the construct and then explains the effect of variables with each other.

Research Approach

To see impact of digital entrepreneurial education in Pakistan on economic benefits, the approach will be qualitative. It translates the idea and construct then changes it into numbers.

Type of Data

Primary data will be collected to check impact of digital entrepreneurial education in Pakistan on economic benefits. Primary data will be collected by questionnaire from graduate level university students of public and private universities. Primary data will help to show the actual, real and true concept of the topic.

Population

Graduate and post graduate students of public and private universities of Faisalabad will be the population of the study.

Name of University Category / Sector Main / Sub Campus

1. Govt. College University Faisalabad Public Main Campus
2. Govt. College for Women University Faisalabad Public Main Campus
3. University Of Agriculture Faisalabad Public Main Campus
4. The University of Faisalabad Private Main Campus
5. National University of Modern Languages (NUML) Islamabad (Faisalabad Campus) Public Sub Campus
6. Virtual University of Pakistan, Lahore (Fsd Campus) Public Sub Campus
7. University of Engineering and Technology (UET), Lahore (Faisalabad Campus) Public Sub Campus
8. University of Education Lahore (Faisalabad Campus) Public Sub Campus
9. University of Sargodha, Sargodha (Women Campus Faisalabad) Public Sub Campus
10. University of Sargodha, Sargodha (Lyallpur Campus) Public Sub Campus
11. National University of Computer and Emerging Sciences, Islamabad (FAST) (Chiniot-Faisalabad Campus) Private Sub Campus
12. The Riphah International University, Rawalpindi (Faisalabad campus) Private Sub Campus

Sample

Graduate and post graduate students of Government universities and private universities will be selected for this proposed study. Total number of Universities and recognized campuses are 12 in Faisalabad City in which 9 are Public Sector Universities and 3 Private Sector universities. Public sector universities and recognized campuses are 75% in numbers of total universities working in Faisalabad city whereas remaining 25% are Private Sector universities.

Unit of Analysis

Students of Universities in Faisalabad will be selected to see impact of digital entrepreneurial education in Pakistan on economic benefits.

Data Collection Method

In this investigation, questionnaire will be used to collect data from students. Questionnaire with 5 points on Likert scale will be used.

Data Collection Procedure

For collection of responses, questionnaires will be distributed via email and personally visits in the universities. After the permission of HOD of respective department, questionnaire will be distributed to the students of that university.

Data Analysis

Data will be analyzed with the help of SPSS. In data analysis of the study, reliability and validity of questionnaire will be checked. First of All, validity and reliability of questionnaire will be checked. Validity of questionnaire will be checked through Cronbach’s alpha technique. Pilot testing technique will be used to check reliability of questionnaire.