The question should be: how can entrepreneurship be applied to education? This is what entrepreneurship educators have been studying and doing at different levels (but mostly in higher education), for three decades. There are programs on the best practices and teaching methods on entrepreneurship education, such as the Babson College Symposium for Entrepreneurship Educators, which I completed. The objective of these programs is for educators to learn how to teach any course with an entrepreneurship mindset.
The curriculum must be prepared based on the emerging requirements of skill. knowledge and attitude with the consensus of Entrepreneurship requirements.
After COVID-19 pandamec, many things must be changed. Entrepreneurship education aims to provide students with the knowledge, skills and motivation to encourage entrepreneurial process.
Nasser, although there are entrepreneurship courses/programmes that focus on developing students' business acumen through a set of educational and behaviourally adaptive modules (Fayolle, 2005; 2006) that foster the required money generating propensities, others contend that entrepreneurial behaviour (Heuer & Kolvereid, 2014) is most effective when practised. This debate is still ongoing and am interested to see what the future directions may hold in this interesting and emerging discipline.
Education plays an important role in entrepreneurship especially on financial management,creativity and innovation .Considering today technological advances entrepreneurs need to appreciate new ways of doing business.An example is in this COVID 19 pandemic doing business is no longer the same and if you do not have the skills and appreciation to move with the moving and changing environment you will be left behind for good.Threfore education(knowledge) is power.
Finance is the life-blood of any business. For entrepreneurship financial sustainability and ethical approach in operations need to be established to withstand in the long-run and attain reasonable growth and profitability.
In the institution where I teach, we inculcate the mindset of being a "technopreneur" to our students. The opportunity to teach entrepreneurship in a school where most of its students are engineering majors could be quite tricky - most of them dismiss it as not within their forte, and that it should be only taught to our business students. So we are changing that perspective, we give emphasis that everyone can become entrepreneurs because business opportunities abound everywhere, no matter your field of study maybe.
Some universities can offer a form of incubator, such as SETSquared Bristol (University of Bristol), which provides support for startups from inside and outside the university. They also partner with other incubators. I agree with Bernard Estioco that anyone can become an entrepreneur; it might be useful to develop ways of involving former alumni who became entrepreneurs and also non-alumni to allow young people to observe how these people managed risk, avoided pitfalls (or encountered them [and how they recovered]) and seized opportunities.
The risk, fear of failure, hard work generally prevents people from taking entrepreneurship as a career. On the other hand, the reward of creation, innovation and making difference in the world motivates people to go for entrepreneurship. University with Incubation centre is the perfect place to target prospective entrepreneurs. One learn a lot from the experiences of others not only success but failures too. Incubation centres assist entrepreneurs right from the opportunity recognition to bringing the idea on the plane. The opportunity of funding also motivates students to experiments.
Entrepreneurship is not just about dreaming. It's not just about creativity. We need to get down to business and build the prototype of the dream, what is called proto-typing.
We understand why the tools to create entrepreneurs have to be other than those used so far. The entrepreneur needs a practical, experiential exercise to identify a business idea, believe in it and bring it to market successfully.
CARE (Centro de Alto Rendimeinto Emprendedor, in Spanish - Centers of High Entrepreneurial Performance) is the model that we propose as an alternative to current models, developing the work from the study of the situation that we find in the Autonomous Community of Andalusia.
The idea is, in some way, to follow the scheme established in the CAR (High Performance Centers) that exist for the field of sport.
The entrepreneurial process cannot be identified, encouraged, promoted or accelerated, in the exclusive environment of the traditional classroom, just as the entrepreneur cannot take his business exclusively from the office or the walls of his production center. They have to go out into the street, they have to rub against potential customers, identify and test the market, the customers and competitors, the prescribers and the detractors of the business, identify the collaborators and the instigators, so that the Entrepreneur perform a test very close to the reality of what will, one day, start a business.
The tools to create entrepreneurs have to have an eminently practical approach, to provoke the genesis of the impulse that leads someone to identify a business idea, trust in it and try to take it to the market.
In this article we present a methodology adapted for the ADDAPT (of its initials in Spanish: Avistamiento, Descubrimiento, desembarco, Asentamiento, Personalización, Tonificación) cycle of entrepreneurial awakening that is proposed, and that consists of the following stages:
I. Sighting: Start in the entrepreneurial awakening. The individual consolidates his intentions to become an entrepreneur.
II. Discovery: A possible future business model is identified on which to work.
III. Landing: The entrepreneur takes the field, explores it, knows and tries to control the variables that regulate it and the resources that populate it.
IV. Settlement: Domain of the equations that govern the business model: Value proposal, Clients and possible forms of relationship, channels, actions and key resources, collaborators, possible results accounts.
V. Customization: Design of the prototype at laboratory scale. First model of the possible StartUp.
VI. Toning: Trial and error exercise to give robustness to the possible future business model.
The conclusions derived from the study carried out can be the object of pilot experiences that could be implemented in regions such as Andalusia, with demographic and economic characteristics that can serve as a comparison for other European regions.
The view that the role of the University is only to transmit knowledge is outdated. One of its pillars is the teaching of entrepreneurship, a source of new business, new technologies and new jobs.
From my point of view, entrepreneurship is a creative way to solve a problem.
The problem for my was that I didn't know which problem I wanted really to solve.
For that I first had to find my "why". Why am I on earth and what do I want to spend my limited time with?
To find my why, I like the idea of asking the following questions:
What did I do in my past to become the person, who I am?
When you know this, you have a basis from where you can start thinking.
Where am I now and what am I doing now?
What is the central theme in my life? What forms my character? What is really important for my?
(hind: it is not money - money is just a tool to buy stuff, what you like to do)
It's more like love, pride, thankfulness. When do you feel this?
When you know who you are, you can start to get creative.
You become creative, when you have space to think.
For that you have to create a period of time, where you get out of your everyday life.
Meditation works well.
Maybe the University could offer workshop where the students learn to find themself and when they know this, you could give them the tools what enables them to solve problems.
I would recommend to read:
the one thing - gary keller
the lean start up - eric ries
the 4 hour-workweek - tim ferris
Another practice is fear-setting.
A kind like risc-management.
You become good at solving problems, when it meets your heart. So create a journey to the heart and from there to the solution how to solve problems.
Entrepreneurship education is nowadays very essential in any university (ideally, it should have started in different forms even at primary school...). Basic Entrepreneurship course should be available for all university students, and not only business or engineering students, maybe as one of the general elective requirements courses for any study program. In this course, students should learn what is entrepreneurship, characteristics of an entrepreneurs and the entrepreneurial process in general, with focus on the initial phases like the feasibility analysis, industry and competitor analysis, business model and basics of a business plan. What I found to be more effective while teaching basic entrepreneurship course is to have the students (in groups) to come up with ideas for a startups at the beginning of the course and apply the theory learned throughout the course (in the different phases of the entrepreneurial process) on their ideas and produce some tangible results as part of their course project! In summary, to gain entrepreneurial skills is so crucial for university students regardless if they are planning to become future entrepreneurs or not, as these skills will help them even as employees in any innovative companies...
In this current era the education and employment also considered as market. Hence the Entrepreneurship need s to be taught as a part of sociology, maths geography (HR, Finance, Marketing - can be related) at school level.
I am grateful for your answer. I agree that one of its pillars is the teaching of entrepreneurship, a source of new business, new technologies and new jobs.
The best model is structure curriculum which is the combination of theory, principles, laws, ethics, finance, marketing, HR and other required stuff for the business in general and specific for some business. Unitize the syllabus and that are the units to be taught in class room delivery, use of cases, concept application, case lets, theory, internships, on-the job and simulation. It will be effective
Yes, I agree with that that structure curriculum which is the combination of theory, principles, laws, ethics, finance, marketing, HR and other required stuff for the business in general and specific for some business. It is very useful Model.
In my view, education should be based on 'Real-world solutions' or 'Practiced-based'. Sadly traditionalists are still preventing further and higher education to fully adapt. Of course there are a few number of higher education institutions who appreciate change, and award Practiced-base degrees, BUT regretfully, many are still the guardians of the old traditions and dated PhDs.
Nasser, this is an interesting question and an ongoing debate. Whilst some successful entrepreneurs have not benefited from formal education but have excelled in setting and scaling up new businesses in both developing and developed economies, others are claimed to have profited from skills, capabilities and competencies that they acquired from education (see for example, Oosterbeek et al. 2010; Henry et al. 2005). Interesting...