Student Readiness for the Orange Economy: An Empirical Study Using the Orange Economy Student Readiness Scale (OESRS)

Abstract The Orange Economy, or creative industries, which includes media, design, digital content, animation, gaming and cultural businesses, have become a huge source of economic growth and jobs, especially to younger people. Although there has been growing policy focus and institutional efforts, it is of concern that students are not ready to be a productive part of this new economy. In the current research, the authors are going to evaluate the preparedness of students to the Orange Economy by creating and using a structured scale of measurement, the Orange Economy Student Readiness Scale (OESRS). The study employs a mixed-method research design that combines the secondary data (represented by the literature on the topic of the creative economy) with primary data (collected through a standardized questionnaire) on the sample of students. The OESRS is used to gauge six important dimensions, namely: awareness of the Orange Economy, readiness to use creative and digital skills, institution support, career orientation, perceived skill gaps and overall self-readiness. Students were used as the sample; whereby undergraduate and postgraduate students were sampled using a five-point Likert scale. Student preparedness was assessed by using descriptive statistics, reliability analysis and computing readiness score. The results indicate an average general preparedness, where there are significant discrepancies in industry exposure, mentorship, and development of applied skills. The work adds a reliable diagnostic model that can be used by institutions, policymakers, and students to find the level of readiness and create specific measures to bridge the skill gap in the Orange Economy.