Entrepreneurship Development In Nepalese Young Adults Using Transformational Leadership Style

Abstract

It is now well known that entrepreneurial activity is crucial to any nation's economic development. The results of this study provide robust proof of a connection between transformational leadership style, the entrepreneurial performance of young adults, and the effectiveness of entrepreneurial education programs in higher education institutions. This paper's primary aim is to thoroughly examine the influence of transformational leadership on the development of entrepreneurial ventures among young adults in Nepal. The study revealed that a) creating a welcoming environment, b) encouraging the creation of strategic plans, c) using an experimental learning approach, d) navigating social and cultural obstacles can enable young adults’ entrepreneurial journey. The study adopting transformative leadership theory explores participants’ engagement through interviews, document reviews, and observation of colleges’ entrepreneurship activities along with the venture of the students. The qualitative interpretative studies done at two of Nepal's premier colleges illuminate the critical role of leaders’ support in shaping entrepreneurial attitudes and fostering youth-led enterprises. Studies show that initiatives led by leaders, mentorship programs, and chances to learn by doing all play a big role in building entrepreneurship. This study highlights the pressing need for a cohesive strategy in entrepreneurial education and offers educators, legislators, and community leaders actionable solutions to cultivate a new generation of business owners. This study's findings underscore the transformative influence of leadership in aligning educational practices with the socio-economic objectives of youth in Nepal.