Micro-credential adoption framework for entrepreneurs

The conceptual framework was created based on constructs identified from literature as well as the themes and sub-themes identified during the analysis of the 14 (semi-structured) interviews which were conducted. The conceptual framework aims to assist entrepreneurs with the adoption of micro-credentials for the purpose of entrepreneurial skills development. The framework depicts a relationship between four main elements i.e. micro-credential adoption which leads to entrepreneurial skills development, successful business ventures, and ultimately results in the sustainability thereof.

The framework shows a relationship between micro-credential adoption and entrepreneurial skills development, for the improvement of core skills identified from literature namely: networking skills, financial skills, business management, technology skills, innovation skills, creativity skills, leadership, and communication skills. The framework states the deciding factors to be considered before adopting micro-credentials: comparability, relative advantage, complexity, autonomy, relatedness, credibility, affordability, time constraints, medium of delivery and method of learning. The entrepreneur also needs the required I.T profile with adequate digital literacy, computer literacy and basic academic literacy skills. They should also ensure that prerequisites such as computer literacy, internet connection and a dedicated workspace are met.

The framework then shows a relationship between entrepreneurial skills development and successful entrepreneurial ventures. When entrepreneurs have the necessary skills to conduct and manage their businesses, that results in successful businesses which are profitable and efficient. Lastly, the framework shows a relationship between entrepreneurial skills development and sustainability, where there is stability in the business growth, steady revenue growth, market share and product offerings.