Enhancing Entrepreneurial Spirit: A Resolve for University Graduates

Abstract

The growing importance of entrepreneurship is the result of a global awareness of increasing competitiveness in the business environment. In Singapore, the SME Master Plan (1989) emphasises entrepreneurship as “a key component of the strategy to develop Singapore into a major node in global business and a total business centre.” Much has been reported in the press about entrepreneurship. The article “So You Think We've Arrived?” (Straits Times, 3 Jan 1993) says it all. In the past, Singapore had the temporary sensation of plenty and peace. Singapore industrialised and attracted multinational corporations (MNCs) to leap‐frog the region. This has enabled Singapore to grow at a phenomenal rate. Now, the region has awakened. Our neighbours have learned and are now more competitive to demand a share of the market. The challenge for tomorrow is a more competitive business environment. Our Senior Minister, Mr Lee Kuan Yew, has emphasised that about 15 to 20 percent of Singapore's better graduates must venture abroad if Singapore is to become a developed country (Straits Times, 23 Apr. 1993). Thus, the emerging need for an entrepreneurial spirit has begun and is more real now than ever.

Citation

Poon Teng Fatt, J. and Hee Ang, T. (1995), "Enhancing Entrepreneurial Spirit: A Resolve for University Graduates", Management Research News, Vol. 18 No. 1/2, pp. 31-52. https://doi.org/10.1108/eb028398