OLD WINE NEW BOTTLE: PROMINENCE OF RESILIENCE IN EDUCATING ENTREPRENEURS

This concept paper glances through literature on resilience. It presents the origination of resilience and its further developments and myriad conceptualizations. It also describes why resilience needs to be considered important in the field of entrepreneurship and education. There is a dearth of understanding and scarcity of knowledge in the field of resilience in entrepreneurship and its working for entrepreneurs. Thus this paper redresses entrepreneurial resilience and suggests seeing resilience as a means to achieve success and gaining competitive edge. It explicates prior literature from the field of Psychology and admits the essential roles of risk factors and protective factors playing crucial part in the emergence of entrepreneur's capacity to perform effectively. The borrowed literature from Psychology helped in understanding the whole concept of entrepreneurial resilience and its working model. Further, as importantly, this particular trait can be learnt and taught, therefore, it highlights the need to discuss this phenomenon in the field of education to attain maximum benefits. The implication of understanding resilience as a process is deemed important for better comprehending resilience working in gaining entrepreneurial success. Hence, it emphasized the need of educating entrepreneurs to step in the realm of success.