Tuesday, October 9, 2012

Project to assess skills of Omanis in entrepreneurship Entrepreneurial Value Index

MISCAT: Fund for Development of Youth Projects (Sharakah), a premier institution in Oman involved in development of small and medium enterprises (SMEs), has joined hands with Lighthouse, one of the most renowned human resource consulting firms in the region to initiate 'Lighthouse Sharakah -” Leaders and Entrepreneurs Assessment and Development Programme. (LS-“LEAD Programme).

This programme aims to carry out an in-depth research to identify competencies required by individuals to be successful entrepreneurs in Oman.

The research will entail analysing various aspects related to creating a favourable environment for entrepreneurs, which includes the industrial environment, cultural upbringing, economic conditions and demographic profile. This will lead in developing tool to assess the entrepreneurial skills of the locals to ensure that they run successful businesses.

This tool will be customised and designed to measure what is known as Entrepreneurial Value Index (EVI) of the individual against the set of competencies which were identified during the research, in a developmental paradigm. The result of this tool can then be used to give anyone who is eager to develop their own business a clear road map to acquire necessary skills to be a successful entrepreneur.

"Small and Medium Enterprises are the backbone of the economic landscape. Their role in a developing the economy and addressing issues related to unemployment, resource utilisation and distribution of wealth cannot be understated,- said Ajay Singh Bhati, chief executive and managing partner of Lighthouse.

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