Entrepreneurship education sets to provide
student
A student is a person enrolled in a school or other educational institution, or more generally, a person who takes a special interest in a subject.
In the United Kingdom and most The Commonwealth, commonwealth countries, a "student" attends ...
s with the knowledge, skills and motivation to encourage
entrepreneurial
Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones.
An entrepreneu ...
success in a variety of settings.
Variations of entrepreneurship
education
Education is the transmission of knowledge and skills and the development of character traits. Formal education occurs within a structured institutional framework, such as public schools, following a curriculum. Non-formal education als ...
are offered at all levels of schooling from
primary
Primary or primaries may refer to:
Arts, entertainment, and media Music Groups and labels
* Primary (band), from Australia
* Primary (musician), hip hop musician and record producer from South Korea
* Primary Music, Israeli record label
Work ...
or
secondary schools through
graduate university
A university () is an educational institution, institution of tertiary education and research which awards academic degrees in several Discipline (academia), academic disciplines. ''University'' is derived from the Latin phrase , which roughly ...
programs.
Objectives
Entrepreneurship education focuses on the development of
skills
A skill is the learned or innate
ability
Abilities are powers an agent has to perform various Action (philosophy), actions. They include common abilities, like walking, and rare abilities, like performing a double backflip. Abilities are in ...
or attributes that enable the realization of
opportunity
Opportunity may refer to:
Places
* Opportunity, Montana, an unincorporated community, United States
* Opportunity, Nebraska, an unincorporated community, United States
* Opportunity, Washington, a former census-designated place, United States
* ...
, where
management education
Management (or managing) is the administration of organizations, whether businesses, nonprofit organizations, or a government bodies through business administration, nonprofit management, or the political science sub-field of public administr ...
is focused on the best way to operate existing hierarchies. Both approaches share an interest in achieving "profit" in some form (which in non-profit organizations or government can take the form of increased services or decreased cost or increased responsiveness to the customer/citizen/client).
Entrepreneurship education can be oriented towards different ways of realizing opportunities:
*The most popular one is regular
entrepreneurship
Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones.
An entrepreneu ...
: ''opening a new organization'' (e.g. starting a new business). The vast majority of programs on university level teach entrepreneurship in a similar way to other business degrees. However, the UK
Higher Education
Tertiary education (higher education, or post-secondary education) is the educational level following the completion of secondary education.
The World Bank defines tertiary education as including universities, colleges, and vocational schools ...
system makes distinction between the creativity and innovation aspects, which it sees as a precursor to new venture development. Here Enterprise is defined as an ability to develop multiple ideas and opportunities that can be made real, and entrepreneurship is defined as the development of business acumen that can realize the full potential. This enables any discipline that is subject to the UK Higher Education's Quality Assurance Agency for Higher Education's guidance, to offer subject-based entrepreneurial curriculum. The
European Commission
The European Commission (EC) is the primary Executive (government), executive arm of the European Union (EU). It operates as a cabinet government, with a number of European Commissioner, members of the Commission (directorial system, informall ...
set out a series of learning outcomes that address the need for European-wide perspectives on how such learning should be evaluated, and highlight the need for teacher development at all levels. Best practice guidance for schools and teachers is also available via the Directorate-General for Enterprise and Industry's Entrepreneurship 2020 Unit. Moreover, in 2015 the OECD partnered the European Commission to produce guidance for the development of skills and competencies for entrepreneurship. An alternative approach is action-based entrepreneurship education programs. This is sometimes also labelled as venture creation programs (VCP). In these programs the students launch a new business as an integral part of the learning process. The most comprehensive VCP programs therefore also run a
business incubator
A business incubator is an organization that helps startup companies and individual entrepreneurs to develop their businesses by providing a fullscale range of services, starting with management training and office space, and ending with venture ...
on site and operate over a long time period (e.g. 1–2 years).
*Another approach is to promote innovation or introduce ''new products, services, or markets in existing firms''. This approach is called corporate entrepreneurship or
Intrapreneurship
Intrapreneurship is the act of behaving like an entrepreneur while working within a large organization. Intrapreneurship is known as the practice of a corporate management style that integrates risk-taking and innovation approaches, as well as ...
, and was made popular by author
Gifford Pinchot
Gifford Pinchot (August 11, 1865October 4, 1946) was an American forester and politician. He served as the fourth chief of the U.S. Division of Forestry, as the first head of the United States Forest Service, and as the 28th governor of Pennsyl ...
in his book of the same name. Newer research indicates that clustering is now a driving factor. Clustering occurs when a group of employees breaks off from the parent company to found a new company but continues to do business with the parent.
Silicon Valley
Silicon Valley is a region in Northern California that is a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical area of the Santa Clara Valley ...
is one such cluster, grown very large.
*A recent approach involves ''creating charitable organizations'' (or portions of existing charities) which are designed to be self-supporting in addition to doing their good works. This is usually called
social entrepreneurship
Social entrepreneurship is an approach by individuals, groups, Startup company, start-up companies or entrepreneurs, in which they develop, fund and implement solutions to social, cultural, or environmental issues. This concept may be applied to ...
or social venturing. Even a version of public sector entrepreneurship has come into being in governments, with an increased focus on innovation and customer service. This approach got its start in the policies of the United Kingdom's
Margaret Thatcher
Margaret Hilda Thatcher, Baroness Thatcher (; 13 October 19258 April 2013), was a British stateswoman who served as Prime Minister of the United Kingdom from 1979 to 1990 and Leader of the Conservative Party (UK), Leader of th ...
and the United States'
Ronald Reagan
Ronald Wilson Reagan (February 6, 1911 – June 5, 2004) was an American politician and actor who served as the 40th president of the United States from 1981 to 1989. He was a member of the Republican Party (United States), Republican Party a ...
.
* Entrepreneurship is also being developed as a way of developing skills such as risk-taking and problem solving that facilitate achievement of life goals and in education.
*Whether startup entrepreneurs or growing business owners, the challenge is much bigger than what we normally assume. It's critically important for us to know what we are getting into. Right education around the core pillars of entrepreneurship and professional business development - Mindset, Skills, Knowledge and Tools is important. Taking the bull by the horns
approach has helped millions of entrepreneurs, and it is the best strategy to not only prepare from mental preparedness to tackle the challenges but also from planning the resources to overcome.
Entrepreneurship For Kids:
To catch them early is the vision. Based on certain research in
India
India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...
&
Israel
Israel, officially the State of Israel, is a country in West Asia. It Borders of Israel, shares borders with Lebanon to the north, Syria to the north-east, Jordan to the east, Egypt to the south-west, and the Mediterranean Sea to the west. Isr ...
, Schools are now incorporating new courses for young students. Founder of Leader To Creator Entrepreneurship for kids Pradeep Mishra started this program in schools in India. The kids are taught about business and economics at a very young age. Students are exposed to a controlled economic environment for better learning outcomes.
Multidisciplinary
Since multidisciplinary is important to entrepreneurship, it is important to teach entrepreneurship in a multidisciplinary environment in order to create help students to work with peers from different fields of study and educational level.
See also
*
Business
Business is the practice of making one's living or making money by producing or Trade, buying and selling Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for ...
*
Business analytics
Business analytics (BA) refers to the skills, technologies, and practices for iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights ...
*
Entrepreneur
Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones.
An entreprene ...
*
Impact Entrepreneurship Group
*
List of entrepreneurs
References
{{DEFAULTSORT:Entrepreneurship Education
Entrepreneurship
Management education