A COMPETENCY-BASED APPROACH TO ENTREPRENEURSHIP EDUCATION

Transcription

1 A COMPETENCY-BASED APPROACH TO ENTREPRENEURSHIP EDUCATION Michael H. Morris, Ph.D. James W. Walter Eminent Scholar Chair Academic Director, Entrepreneurship Warrington College of Business Administration German Fulbright Visit April

2 The reasonable man (woman) adapts himself (herself) to the world. The unreasonable one persists in trying to adapt the world to himself (herself). Therefore, all progress depends on unreasonable men (and women). -George Bernard Shaw

3 Toward a common definition The process of creating value through unique resource combinations to exploit opportunity

4 Amazing evolution of entrepreneurship Role: sidelight sub-area area major discipline Academic offerings: courses curriculum undergraduate degrees graduate degrees Funding: cost center revenue center profit center Outreach: campus-based events community and campus events integration of curriculum and outreach Faculty: adjuncts shared faculty dedicated faculty joint appointments

5 Amazing evolution (cont.) Reseach: No scholarly activity core faculty publishing stimulation of research agendas and interdisciplinary work Focal market: business school local community campus region nation/globe Assessment: course evaluations venture metrics competencies integrative model Purpose: fill a gap develop area of study empower students and create ventures transform campuses and communities

6 Stages of program development Stage 1: Single courses Stage 2: Centers and events Stage 3: Curriculum build out Stage 4: Comprehensive curriculum and outreach Stage 5: Campus-wide infusion Stage 6: Integration and autonomy

7 Connections: components of a contemporary E program Curriculum and Degree Programs Research Agenda Co-Curricular Student Programming Engagement with Entrepreneurial Community Cross-campus & Interdisciplinary Initiatives

8 What we teach: the content of entrepreneurship a) business basics, mechanics of starting a venture b) entrepreneurship as a distinct discipline with a distinct content c) entrepreneurship as a way of thinking and acting

9 What s your relative focus? Business basics Entrepreneurship basics Entrepreneurial thinking & acting Setting up the books Entrepreneurship defined Opportunity alertness How to sell The entrepreneurial process Risk mitigation Hiring of staff Characteristics of entrepreneurs Resource leveraging Forms of enterprise Types of entrepreneurs Conveying a vision Cash flow management Contexts for entrepreneurship Value innovation Formulating strategy Innovative business models Passion Market analysis Entrepreneurial cognition Persistence and tenacity Setting up operations The nature of opportunity Creative problem-solving Pricing Ethics and entrepreneurship Guerrilla behavior Promotion & advertising Seed and venture capital Optimism Financial statements Lean start up Learning from failure Franchising Entrepreneurial orientation Effecting change Management control Entrepreneurship and society Adaptation Cost analysis Exit strategies Resilience Protecting IP

10 What s happening with the curriculum? Introduction to Entrepreneurship Women & Minority Entrepreneurship Entrepreneurial Marketing Social Entrepreneurship Imagination Emerging Enterprise Consulting Growing Small & Family Ventures Venture Capital Dilemmas & Debates in Entrepreneurship Entrepreneurship Empowerment in South Africa (study abroad) Legal and Ethical Aspects of Entrepreneurship Special Topics in Entrepreneurship Economics of Entrepreneurship & Innovation The Lean Startup Business Plan Lab Corporate Entrepreneurship Entrepreneurship Practicum Entrepreneurship & New Technologies Intellectual Property & Entrepreneurship New Product Development Creative Marketing Strategies for Small Firms Design for Entrepreneurship Strategic Entrepreneurship

11 And outside the b school? Arts and Entrepreneurship Green Entrepreneurship The Psychology of Entrepreneurship Entrepreneurship & the Built Environment Healthcare Entrepreneurship Entrepreneurship & the Family Sports Entrepreneurship Media and Entrepreneurship Ethnic Entrepreneurship Anthropological Perspectives on Entrepreneurship Quality of Life and Entrepreneurship Community-based Entrepreneurship Historical Entrepreneurship Entrepreneurship & Fashion Design Engineering Entrepreneurship Agricultural Entrepreneurship Pharmacy Entrepreneurship Entrepreneurship in Geology

12 Eight types of degree programs Undergraduate minor for business students Undergraduate campus-wide minor or certificate Undergraduate major Masters in Entrepreneurship (live) (20) Masters in Entrepreneurship (online) MBA Concentration in Entrepreneurship Graduate Certificate in Entrepreneurship Ph.D. or DBA in Entrepreneurship (7+) and the emergence of joint degrees

13 Experiential learning what do I want the student to see, think, feel, do? What percentage of your program is content versus practice? What role does repeat practice play? What percentage of your learning occurs inside versus outside the classroom? What is your strategy for coordinating types of experiences across the curriculum?

14 The experience portfolio: Idea diaries Business models Business plans Feasibility studies Written or video case studies Live cases Idea jams Role plays Interviews of entrepreneurs Hollywood movies Entrepreneurial audits Marketing inventions Small business consulting projects Entrepreneurial internships Entrepreneurial mentors Study abroad Elevator pitches Venture creation weekends Campus-based businesses Prototype development Website development In-class games and exercises (e.g. inventor s challenge) Campus-based business plan competitions Other campus competitions (e.g. making money from lemons) Entrepreneurial mentoring Student venture incubators Technology commercialization projects Simulations Student venture fairs Participation in national competitions Shadowing entrepreneurs Host an entrepreneur Adopt a family firm Community outreach initiatives (e.g. start-up bootcamps, veterans programs, women s symposia, high-school mentoring, community incubators)

15 Engaging the entrepreneurial community Local/regional -community startup bootcamps -econ. development projects -consulting projects -monthly speaker forums -coordinating angel networks -youth & programs -women s symposia -e of year recognition in high schools -community b plan competitions -community incubators National -research conferences -disabled veterans program International community -experiential classroom -study abroad -global social entrepreneurship projects -faculty exchanges Alumni base -Aggie 100 (TAMU) -programs on entrepreneurship in particular contexts (e.g., Native Americans, minorities) -alumni entrepreneurship forums (USC) Other universities -collaborations for student competitions (Texas), faculty forums (SDSU) graduate students (Indiana)

16 Connecting the dots Classroom Community engagement Co-curricular programming Experiential learning

17 The cross-campus explosion AGRICULTURE HEALTH SCIENCES BUSINESS FINE ARTS ENGINEERING The Entrepreneurial University HUMANITIES EDUCATION LAW NATURAL SCIENCES SOCIAL SCIENCES

18 How entrepreneurship is manifested across a campus Technology commercialization projects Commercialization of other intellectual property Seed capital funds Creativity, innovation and entrepreneurship learning communities Cross-disciplinary research grants Creativity portal for innovative ideas from faculty, staff and administrators Innovative niche programs (e.g. healthcare entrepreneurship, arts entrepreneurship) Cross-disciplinary research projects and forums Collaborative community engagement Ideabounce open idea jams Unique speaker series Incubators (business and non-business e.g. arts incubator) Curriculum courses, modules in every school and college Campus-wide business plan competitions and elevator pitches Student-run campus ventures (profit and non-profit) Study-abroad programs Process innovation in how the university is run Community partnerships

19 How we can transform universities Not an ivory tower Not just a repository of knowledge Not an island of intellectual tranquility Not a bureaucracy driven by committee and process But instead The university as agent of economic and social change A place of collisions, collaborations and societal engagement

20 Our role on campus = E leadership We should be leading the campus-wide movement toward experiential learning We should be leading the campus-wide movement toward community engagement We should be leading the campus-wide movement toward inter-disciplinary research, teaching and service We should be leading the movement of the campus toward new business models, new funding models

21 Building and facilitating eco-systems

22 Competency : background Competencies include knowledge, skills, attitudes, values, behaviors and characteristics that people need to do a job successfully (Bryant & Poustie, 2001) They correlate with job performance and can be measured against standards (Bryant & Poustie, 2001) One can contrast areas of competence (aspects of the job which an individual can perform) with competency (a person s behavior underpinning competent performance) Competencies are connected to activities & tasks, and tend to be interrelated (Bergevoet, Mulder & Van Woerkum, 2005)

23 Why competencies matter competency is a term that allows for flexibility in adapting to diverse and changing organizational demands (Garman and Johnson, 2006) a competency is something that can be learned and developed (Klarus, et al., 1999)

24 Competency to ultimately do what? Entrepreneurship is The capacity to perceive and act upon opportunities in the environment The pursuit of opportunity regardless of resources controlled The creation of something from nothing

25 Under what conditions the experience Limited Sense of Control Ambiguity Dejection Loneliness Stress Exhilaration Responsibility Self-reliance Freedom Uncertainty Adaptation Discipline Change Learning

26 Delineating competencies Two expert panels Three waves (first listed competencies, then rated them, then indicated whether they were entrepreneurial or managerial) Survey Monkey Produced total of 167 competencies Split into two major groups: managerial and entrepreneurial Eventually arrived at 13 core entrepreneurial competencies

27 The key competencies Recognizing Opportunity Assessing Opportunity Vision/Seeing the Future Creative Problem-solving Resource Leveraging/Bootstrapping Mitigating and Managing Risk Planning/Modeling When Nothing Exists Innovation---Value-driven New Product and Concept Development Building and Managing Networks The Ability to Maintain Focus Yet Adapt Action Orientation/Implementation Tenacity/Perseverance Ability to Learn from Experiences

28 Distinguishing types of competencies managerial entrepreneurial Organizing Team building & Staffing Communicating Budgeting Controlling Motivating Planning Directing Operating Assessing Recognizing Opportunity Assessing Opportunity Creative Problem-solving Resource Leveraging Guerrilla Skills Mitigating and Managing Risk Planning When Nothing Exists Value innovation---products, Services, Processes Building & Managing Social Networks Adaptation while Focusing Implementation of Something Novel or New

29 Measurement approaches Pre- and post- measures using rating scales Judging experiential project portfolio Behavioral event interviews In class assessments tied to exercises Student diaries or registers Peer assessments Self-assessments at end of program Behavioral assessments after graduation (see also Bird, 1995)

30 Pilot: the EESA Program 23 American students and 15 South African students Rigorous 6 week intervention Consulting to historically disadvantaged entrepreneurs Pre- and post measures Improvement on all 13 competencies Significant differences on: Opportunity Recognition Risk Management/Mitigation Creative Problem Solving/Imaginativeness Resource Leveraging/Bootstrapping Guerrilla Value Creation with New Products, Services, Business Models Resilience Networking/Social Skills

31 Mastering a competency: how do we teach it??? Knowledge and Understanding: what do you need to know about resource leveraging Attitude/Affect and Self-Awareness: what do you need to think, believe and feel about resource leveraging? Skills and Behaviors: what do you need to be able to do in terms of resource leveraging? These are all learning outcomes We can do more not just in terms of conveying knowledge, but in all three areas, especially to the extent that we stress experiential learning

32 Each competency requires a definition and level of proficiency Definition: What do we mean by the competency? Level of Proficiency: What must the student be able to demonstrate in terms of knowledge, skills, capabilities and attitudes he competency to indicate mastery of the competency?

33 An illustration Example: Definition: Risk management The ability to identify relevant risks surrounding an entrepreneurial action and systematically mitigate those risks. Level of Proficiency: 1. Understands key types of risks 2. Can identify principle risks surrounding a given entrepreneurial action 3. Can prioritize risks based on magnitude and probability of loss 4. Is able to develop specific actions to -stage the risk -share the risk -reduce the risk

34 Breaking it down for teaching purposes Knowledge Nature of risk versus uncertainty Dimensions of risk Categories of risk General techniques for mitigating risk Attitudes/values Willingness to assume moderate levels of risk Belief that risk is manageable Sense of association between risk level and potential return Behaviors/Skills Ability to estimate risk Ability to isolate risk Ability to moderate level of risk

35 A second illustration Example: Definition: Opportunity identification The ability to specify unrecognized or unfilled gaps in the external environment creating an opening for a new product, service or process. Level of Proficiency: 1. Understands general sources of opportunity 2. Is capable of scanning the environment to identify emerging patterns & trends, competitor shortcomings, unutilized resources & unmet needs 3. Can connect an opening in the environment to a specific target audience with a need

36 Breaking it down for teaching purposes Knowledge Key sources of opportunity Major types of opportunity The nature of opportunities Four ways in which opportunities are identified Understanding of specific opportunity generation techniques Attitudes/values Curiosity about why things work a certain way Value one places on being alert to opportunity Openness to being exposed to diverse and changing situations Behaviors/Skills Ability to draw associations Ability to grasp and hold onto ideas as they occur to us Ability to assess customer needs Response to a failure (e.g., elevator pitch loss) # of opportunities generated Novelty of ideas generated