Cultivating an Entrepreneurial Mindset to Address Unemployment through Innovation, Adaptability and Interdisciplinary Research

Abstract

In the wake of rising global graduate unemployment, the number of graduates in tertiary institutions is increasing annually, leading to a high demand for job creation. The growing job demand in South Africa has considerably strained the government. Research and innovation have been observed to be a viable source of job creation due to the possibilities of new discoveries that could foster job creation. The challenge associated with this approach is that research in institutions of higher learning is conducted solely for qualifications rather than the possibility of starting businesses. Society and the family system also contribute to this belief system: 'go to school so you can get a good job.’ The focus should be on cultivating an entrepreneurial mindset amongst the university graduates rather than depending on the vanishing existing jobs. Thus, there is a need for an entrepreneurial mindset among university graduates. Incorporating this into the education system will positively affect university graduates finishing and starting their businesses after graduation. Therefore, using a systematic literature review methodology, the study highlights the importance of interdisciplinary research, incorporation of business developments into the institutional general curriculum, government investment in research, and institutional students’ support to convert research into money-making ideas.