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    SDLSBE301

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    Anesu
    My studies at the University of Zimbabwe have prepared me for economic participation in two key ways: 1) Through formal employment by acquiring accounting knowledge and skills like financial reporting that make me suitable for jobs in any economic sector as an accountant. I have also developed social and linguistic skills that help with employment. 2) Through entrepreneurship by learning skills like programming languages, business administration, and decision making that allow me to start my own finance and accounting consulting business. My education is thus equipping me both for formal jobs and to contribute to economic development through entrepreneurship using skills developed from Education 5.0's practical learning approach.

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    SDLSBE301

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    Anesu
    31 views5 pages
    My studies at the University of Zimbabwe have prepared me for economic participation in two key ways: 1) Through formal employment by acquiring accounting knowledge and skills like financial reporting that make me suitable for jobs in any economic sector as an accountant. I have also developed social and linguistic skills that help with employment. 2) Through entrepreneurship by learning skills like programming languages, business administration, and decision making that allow me to start my own finance and accounting consulting business. My education is thus equipping me both for formal jobs and to contribute to economic development through entrepreneurship using skills developed from Education 5.0's practical learning approach.

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    My studies at the University of Zimbabwe have prepared me for economic participation in two key ways: 1) Through formal employment by acquiring accounting knowledge and skills like financial reporting that make me suitable for jobs in any economic sector as an accountant. I have also developed social and linguistic skills that help with employment. 2) Through entrepreneurship by learning skills like programming languages, business administration, and decision making that allow me to start my own finance and accounting consulting business. My education is thus equipping me both for formal jobs and to contribute to economic development through entrepreneurship using skills developed from Education 5.0's practical learning approach.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    31 views5 pages

    SDLSBE301

    Uploaded by

    Anesu
    My studies at the University of Zimbabwe have prepared me for economic participation in two key ways: 1) Through formal employment by acquiring accounting knowledge and skills like financial reporting that make me suitable for jobs in any economic sector as an accountant. I have also developed social and linguistic skills that help with employment. 2) Through entrepreneurship by learning skills like programming languages, business administration, and decision making that allow me to start my own finance and accounting consulting business. My education is thus equipping me both for formal jobs and to contribute to economic development through entrepreneurship using skills developed from Education 5.0's practical learning approach.

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    of 5

    FACULTY OF BUSINESS MANAGEMENT SCIENCES AND

    ECONOMICS
    DEPARTMENT OF FINANCE AND ACCOUNTING

    NAME : MAGAYA CLEMENCE


    REG : R203931K
    PROGRAM : HFCSDA
    COURSE : SDLSBE301

    ASSIGNMENT 1 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.
    Ilhan Ozturk, a professor at Cag University had this to say about education and economic
    development: “Education in every sense is one of the fundamental factors of development.
    No country can achieve sustainable economic development without substantial investment in
    human capital. Education enriches people's understanding of themselves and world. It
    improves the quality of their lives and leads to broad social benefits to individuals and
    society. Education raises people's productivity and creativity and promotes entrepreneurship
    and technological advances...” (Ozturk, 2008).

    Higher and tertiary education has become the aspiration of many people in developing
    countries, in particular Zimbabwe, while at the same time it is a fundamental requirement for
    formal employment in economic sectors and industries that drive economic development.
    Education 5.0 is a new strategy being adopted in Zimbabwe’s higher and tertiary institutions
    with University of Zimbabwe being first to have adopted it. Education 5.0 seeks to equip
    students with various skills that enable them to participate in economic development through
    production of goods and services. In this essay, I will highlight and explain ways in which my
    studies at University of Zimbabwe have equipped me with various skill sets that allows me to
    be an economic participant.

    Amartya Sen’s (1999) international work considers economic development to be the


    strengthening of autonomy and substantive freedom, which allow individuals to fully
    participate in economic life. Hence, economic development occurs when individual agents
    have the opportunity to develop the capacities that allow them to actively engage and
    contribute to the economy. Formal employment in the economy is one way in which
    economic development can be achieved. Formal employment is created through contractual
    arrangements between an incorporated company and an individual employee (Sustainable
    Energy Jobs Platform, 2022). Another way that enables economic developments is
    entrepreneurship through various entrepreneurial skills developed in higher and tertiary
    education. Entrepreneurial skills can encompass a broad range of various skill sets like
    technical skills, leadership and business management skills and creative thinking. Because
    entrepreneurial skills can be applied to many different job roles and industries, developing
    your entrepreneurial skills can mean developing several types of skill sets (Sustainable
    Energy Jobs Platform, 2022).

    As a student at the university, I have been prepared for economic participation through
    formal employment by acquiring the accounting knowledge required in the accounting
    profession. Through studying accounting in a more practical manner, which is the main
    strength of education 5.0, I am now able to prepare financial reports as well as books of
    accounts for any type of organisation, be it not for profit, public limited or private limited,
    sole trades and as well as partnerships. With this knowledge I am now suitable to be
    employed formally in any sector as an accountant. My involvement in the industry will
    enable economic growth which will then lead to economic development.

    My studies have also equipped me with suitable social life skills for employment in the
    economic sectors of Zimbabwe, such as communication skills, integrity, team work, etiquette
    among so many others. These skills are the fundamental requisites for becoming a better and
    productive employee. Having these skills in a company will help me when conducting day to
    day business activities and also when interacting with fellow employees and other
    stakeholders. My studies have enabled me to learn other languages such as Chinese, French
    and Swahili. Knowledge of these languages will enable me, as an employee, to interact with
    foreign stakeholders as well as represent the employer at an international level. With these
    linguistic skills I can also be employed in other countries.

    In addition, I have also acquired some skills which are, but not limited to, analytical skills,
    research skills, data mining and gathering. These skills will help me in formal employment to
    solve business problems. As a finance person, having these skills will enable me, as an
    employee, to analyze and solve company finance related problems through, gathering and
    critically analyzing data thereby boosting the productivity which will aid the overall
    economic development.

    My studies at the university are not only preparing me for economic participation through
    formal employment but they have also equipped me with various entrepreneurial skills
    suitable to contribute to economic development. I have acquired a business mindset and have
    gained the zeal to practise entrepreneurship. To start with, I have been able to learn various
    programming languages, such as My-SQL, Java and python. With these programming
    languages, I can now develop my own systems and software that can be used in accounting
    and finance sections. With this skill set I am capable of starting a finance and counting
    consultant company that will focus on providing technical support and maintaining software.

    I have likewise mastered business administrative abilities. I presently comprehend how to


    form and implement a business plan. I'm outfitted with time usage abilities which is to utilize
    time gainfully and to have the option to focus on significant errands and to finish things to
    plan. I get it and value that time is a non-sustainable source, in this way it ought to be utilized
    proficiently. Every one of the possible key drivers for a fruitful business visionary include
    inspirational perspectives which are housed with inspiration abilities. I'm ready to enthuse
    individuals and inspire them to give their full obligation to the undertakings close by.
    Subsequently, it gives a space to extensively open the personalities of others for them to
    break new ground towards a given errand.

    As part of the entrepreneurial skills developed, I have procured decisive reasoning abilities
    which sees what is going on past what others see. This outcomes in compelling designation
    abilities by examining who best has a specific expertise that suit the rules to be achieved
    comparably expected or past assumptions. Finally, in applying the exchange abilities I would
    direct a comprehension on what is needed from a circumstance and perceive the potential
    outcomes of boosting the results for all gatherings inside that. Being a decent mediator is
    more about having the option to recognize endlessly win situations, and impart them really.

    Convincingly, education 5.0 learning frameworks is a change producer to the economy on


    both formal employment and business venture. Everybody plays a part to play in the
    improvement of the economy particularly students by infusing fundamental abilities gained
    from in higher and tertiary education into the business. Change starts with one individual and
    the soul of harmony joins the divisions that exists. Business venture increments proficiency
    into the economy and furthermore makes work subsequently a good total national output
    (Gross domestic product). In any case, the above examined fundamental abilities don't ensure
    an effective economy however constancy and ceaseless improvement is the way in to all life
    exercises.
    REFFERENCES

    Bloom, D.E., Canning, D. and Chan, K., 2006. Higher education and economic development
    in Africa (Vol. 102). Washington, DC: World Bank.

    Chang, J. and Rieple, A., 2013. Assessing students' entrepreneurial skills development in live
    projects. Journal of Small Business and Enterprise Development.

    Chatterji, M., 1998. Tertiary education and economic growth. Regional Studies, 32(4),
    pp.349-354.

    Harvey, L., 2000. New realities: The relationship between higher education and employment.
    Tertiary Education & Management, 6(1), pp.3-17.

    Mutambara, J. and Bhebe, V., 2012. An Analysis of the Factors Affecting Students'
    Adjustment at a University in Zimbabwe. International Education Studies, 5(6), pp.244-260.

    Ozturk, I., 2008. The role of education in economic development: a theoretical perspective.
    Available at SSRN 1137541.

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