Bulletin No. 1, 2018

C EO O CE CEO O CE In a global survey of young people conducted by The Economist , 30% say that their preferred occupation by 2020 would be running their own business—the most common choice for that question. More generally, 75% are open to starting a company one day, and about 10% have already done so. Amid estimates that 65% of today’s primary school children will end up working in jobs that don’t yet exist, a major shift in the organization of the labour market in developed economies—away from the managed economy towards the entrepreneurial economy—has been taking place. Shifts in labour markets require corresponding shifts in education. In addition to being places of learning, universities like CUHK are transforming into hubs for innovators and risk-takers who are willing to deviate from the status quo to create their own paths. The future world will be shaped by entrepreneurs, and a college degree should equip graduates with the right tools and mindset to change the world. What have been, or would be, your main motivations for running your own business? Financial independence (Survey of 18-25-year-olds) Personal satisfaction in my work Being able to create something new/innovative Ability to be my own boss Leaving a legacy Making a positive impact on others Others Source: The Economist Intelligence Unit 2014 CEO Work in government Others Don't know/ not sure Full time parent/carer Work in business Run my own business (i.e., become an entrepreneur ) 14 % 12 % 7 % 6 % 3 % 28 % 30 % Work in charitable organization In 2020, which of the following would be your preferred occupation ? (Survey of 18-25-year-olds) Predicting Entrepreneurship 16 Chinese University Bulletin No.1, 2018 44 % 37 % 31 % 10 % 35 % 22 % 1 %