NAME : EMMANUEL.

T CHIVANDIKA

REG NUMBER : R207468P

COURSE CODE : SDLS301

DEPARTMENT : ECONOMICS AND DEVELOPMENT

PROGRAM. : HCOE (COMPUTATIONAL ECONOMICS)

FACULTY : (BMSE)

Assignment Question
Higher and Tertiary Education in Zimbabwe has been configured to enable
graduates to participate in economic development through production of goods
and services; (Education 5.0.) Identify and describe ways in which your studies
have prepared you for economic participation through formal employment and
entrepreneurial skills development
Innovation and industrialization are listed as the fourth and fifth missions of universities,
respectively, in Education 5.0. This was done to coordinate national efforts to become middle-
income by the year 2030. The urgent national objective of becoming a middle-income country by
2030 has led to a revision of Zimbabwe's traditional three-pronged purpose of teaching, research,
and community service. Higher and tertiary education in Zimbabwe is now expected to do more
than only educate students and do research; it is also expected to invent new technologies and
help the nation become more industrialized.The University of Zimbabwe participated in national
development initiatives under Education 5.0 with the goal of making Zimbabwe more
industrialized, competitive, and modern. It is now all about problem solving in order to create
value.

Firstly, Entrepreneurship, according to Timmon (2003), is the capacity to develop and construct
something from nothing.It is the process of establishing, operating, accomplishing, and
expanding a business.It is the capacity to recognize possibilities where others see turmoil,
inconsistency, and disarray. For our devoted Education 5.0 subscribed state universities,
fostering a culture that views itself as a job producer is a pressing necessity.In order to uncover
economic possibilities that will shape not only their curricular trajectory but, more significantly,
their innovation and research and development agenda, the job-creator mindset requires close
connection with host communities. By teaching students critical thinking, critical consciousness,
inventive thinking, life skills, and, most significantly, entrepreneurship skills, Education 5.0 aims
to empower and equip students with problem-solving abilities. Project management and
marketing expertise.To develop successful entrepreneurs who can produce goods and services,
time management skills, motivation skills, communication skills, negotiation skills, and
delegation abilities are all given.

It is obvious that a fundamental shift from training an employee to providing an employer is

necessary in light of the aforementioned vision.The following abilities, which are tenets of
Education 5.0, were taught to me and conferred upon me throughout my time at the University of
Zimbabwe: critical consciousness, critical thinking, creativity, innovation and industrialization
skills, problem solving skills, and entrepreneurship skills.As was previously mentioned, as the
nation tries to transition from a low-income to a middle-income economy, the idea of issue
solving is visible. Furthermore, fulfilling Vision 2030 and the success of Education 5.0 depend
on creating jobs and producing graduates who can do so by giving them entrepreneurial skills.

By instilling critical consciousness skills, the University has prepared me to be a viable

entrepreneur capable of creating employment and providing goods and services.This refers to the
state of being awake and aware of what is going on around you and in your surroundings. In
essence, it is obvious that one cannot be an entrepreneur if he is not critical minded.The goal of
critical consciousness is to gain a comprehensive understanding of the world, which allows for
the perception and exposure of social and political contradictions.In this context, the University
of Zimbabwe's education has transformed me from a person of lower order consciousness to a
person of higher level consciousness, or from an individual who simply exists to a person who
questions.

Additionally, The University of Zimbabwe, through Education 5,0, has provided me with critical
thinking skills, which are at the heart of entrepreneurship.To be a successful entrepreneur, one
must see opportunities where others see problems.In this context, critical thinking refers to a
wide range of cognitive skills and intellectual dispositions required to identify, analyze, and
evaluate arguments while overcoming personal biases and preconceptions; to formulate and
present convincing reasons in support of a conclusion; and to make a reasonably intelligent
decision about what to believe and what to do.This clearly shows that in order to succeed as an
entrepreneur, one must be clear about his or her mind, plans, and other misconceptions about the
idea of doing business.

The market is oversupplied with products and services offered by a diverse group of
entrepreneurs.The only way to thrive in such markets is to have strong creative abilities. Making
ordinary things exquisite and extraordinary is part of being creative. According to Carlo Magno
(2009), creativity is the process of being resourceful in dealing with simple things, transforming
them into something meaningful, and breaking the boundaries of convention. Creativity entails
market learning; these are the skills that every entrepreneur or potential entrepreneur must
possess.It is also necessary to mention the concept of entrepreneurial orientation, which is
currently in use.Through Education 5.0, the University of Zimbabwe ideally provided me with
the following critical entrepreneurship skills, allowing me to participate in economic
development through the provision of goods and services: The ability to be innovative and
creative, the ability to diversify the business area, the ability to identify and exploit new business
opportunities; project management skills to link project goals within the business context; and
the competence and willingness to take risks, as well as the ability to organize the necessary
resources to respond to the opportunity

Furthermore, the University of Zimbabwe's Education 5.0 program has provided me with the
skills needed to be a viable entrepreneur in the country.This will allow me to pursue business
opportunities by utilizing my innovative, critical thinking, creativity, problem solving, and
interpersonal communication skills. The world is full of problems, quandaries, and challenges. It
is critical to have people with the necessary skills to identify the root cause of problems and
propose solutions to those problems.The University has taught me problem-solving skills
through education 5.0. A problem is defined as the difference between the current situation and
the desired situation. This means that in order to identify a problem one must know where they
are meant to be and have a clear understanding of where they currently are in relation to the
perceived problem.

The flaw is that schools have shaped students to be job seekers through Education 3.0, whereas
with Education 5.0, job creators are shaped through calculating innovation and industrialism
skills. Nobody knows where innovation will take a company or an individual.In this sense, the
University of Zimbabwe has prepared me to be creative and to cultivate a culture of research for
new ideas in doing and producing things. On the other hand, everyone is an innovator because
we all have the ability to innovate. We have been innovating since we were born by learning by
doing. According to Kuratko (2005) and Hindle (2007), innovation is a discipline that can be
taught from elementary school to university level because it is a specific tool used by
entrepreneurs to explore new business opportunities or different products or services (Arasti et
al. 2012).Lumpkin and Dess 2001: Wiklund and Shepherd 2005, on the other hand, asserted that
it is critical to understand how to reduce risk, seek new sources of innovation, and use creativity
tools.

Two more tenets of Education 5.0 are innovation and industrialization.Innovation is defined as
the use of improved solutions to meet new requirements, needs, or existing market needs.It is not
to be confused with creation, which is the act of making, inventing, or producing something.New
innovations, on the other hand, can be realized through creativity.People must think outside the
box in order to make incremental improvements. To realize innovation, decision-makers must be
open-minded and collaborative. Feeling at ease with uncertainty and managing change are two
behavioral components of innovation. Innovative leaders are curious and optimistic because they
are willing to take risks. Nobody knows where innovation will take a company or an
individual.In this sense, the University of Zimbabwe has prepared me to be creative and to
cultivate a culture of research for new ideas in doing and producing things.On the other hand,
everyone is an innovator because we all have the ability to innovate.
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