Weaving Entrepreneurship Education Throughout the Pharmacy Curriculum

Weaving Entrepreneurship Education Throughout the Pharmacy Curriculum The Real and Hidden Curricula Renae Chesnut, R.Ph., MBA, Ed.D. Associate Dean/Associate Professor, Drake University Andrew Traynor, Pharm.D., BCPS Assistant Professor, University of Minnesota

Agenda The Role of Leadership in Entrepreneurship Education Entrepreneurial Leadership Practical Applications to Incorporate Leadership, Change, Innovation, and Entrepreneurship Leadership University of Minnesota Entrepreneurial Leadership Drake University

Entrepreneurship Definitions: The process of creating value by bringing together a unique package of resources to exploit an opportunity The pursuit of opportunity without regard to resources currently controlled Howard Stevenson and colleagues at Harvard Transforming an idea into an enterprise that generates value. William Green University of Rochester

The Entrepreneurial Mindset Passionate pursuit of new opportunities Pursuit of opportunity with enormous discipline Prioritizing opportunities and not exhausting oneself or resources by pursuing every one of them Focus on execution and adaptation Involvement of many people inside and outside of firm in pursuit of opportunity Michael Morris, Syracuse University

Entrepreneurship is A way of thinking Attitudes I can affect change There are better ways Opportunities are everywhere Embrace innovation, change, & growth Failure is learning A way of acting Behaviors Pursuing opportunity Innovating Perseverance Leveraging resources Guerilla actions Risk management a a philosophy of life Michael Morris, Syracuse University

Entrepreneurship is A Process Identify an opportunity Harvest the venture Develop the concept Implement and manage Determine the required resources Acquire the necessary resources Morris MH, Kuratko DF, Schindehutte M, Towards integration: understanding entrepreneurship through frameworks, Entrepreneurship and Innovation, February 2001, pp 35-49.

Leadership Over 300 definitions in print The art of mobilizing others to want to struggle for shared aspirations Kouzes and Posner The Leadership Challenge Student Leadership Practices Inventory

What happens when we combine entrepreneurship and leadership? The art of mobilizing others to want to struggle for shared aspirations The process of creating value by bringing together a unique package of resources to exploit an opportunity The pursuit of opportunity without regard to resources currently controlled

Entrepreneurial Leadership The art of mobilizing others to want to struggle through the process of creating value and achieving shared aspirations by bringing together a unique package of resources to exploit an opportunity without regard to resources controlled.

Definition An entrepreneurial leader works to advance the profession of pharmacy by mobilizing others to proactively identify and pursue new opportunities to create value for patients and society. Mission To advance the profession by empowering practitioners, faculty, and students to boldly pursue opportunities for breakthrough achievements. The Institute instills a philosophy of life that embraces innovation and perseveres to affect change.

Program Need and Motivation Survey by the DELTA Rx Institute of practitioners, Drake preceptors, Drake students (> 500 respondents) Respondents indicated pharmacy practice needs to be more entrepreneurial (69%, 70%). Entrepreneurial leadership (EL) is important to the advancement of patient care (81%, 90%). Academia needs to play a role in the development of EL and change in practice environments (80%, 81%).

Development of a Curricular Foundation for Preparing Pharmacists to Lead Change at the University of Minnesota

Driving Forces of Change Pharmacists will be the health care professionals responsible for providing patient care that ensures optimal medication therapy outcomes. -Joint Commission on Pharmacy Practitioners Vision of Pharmacy Practice in 2015 Changes in the process of care delivery over the next eight years will surpass the changes that have occurred in our entire history. -Frank Cerra, MD, Sr. Vice President for Health Sciences U of MN College of Pharmacy Commencement, May 2007

Learning Goals Recognize and articulate the need for increased leadership in the profession of pharmacy; Describe the ability to influence change in the profession and in health care regardless of position or title; Demonstrate an ability to recognize the opportunities presented by change; Clearly articulate a position or an idea; Identify the skills, traits, and values of those who are recognized as leaders; and Develop and apply leadership qualities and skills.

Structural Design of Foundation

Foundation for Preparing Pharmacists to Lead Change

Leadership Retreat Leadership Retreat Transforming Attitude and Passion - TAP into your leadership potential.

Leading Change Course Identifying and using strengths StrengthFinder Process of leading adaptive change Lecture and discussion Creating a compelling vision of the future Vision for a Revised Curriculum Articulating messages with clarity and creativity Articulating a Position Assignment Using reflection for personal development and growth Digital storytelling

Leadership Networking Partners A shared mentorship opportunity embracing bi-directional learning Pharmacists experienced in a variety of leadership roles LNP Networking Breakfasts 1:1 meetings twice each semester Assigned, structured activities Team-defined activities

Student Feedback I have a different view of "leadership" compared to before participating in this class. 83% Because of this class, I have given greater consideration to the role I might play in shaping the future of pharmacy. 94% This class increased my confidence and knowledge to succeed in creating change. 89%

Transferability Benefits have been gained and momentum built through smaller initiatives Required Resources Faculty Facilities Financial resources Community Collegiate administrators Students Administrative support

Successes and Challenges Successes Retreat camaraderie Students realize they can be powerful change agents Powerful community engagement Further leadership instruction for pharmacist audiences Broader dialogue on pharmacy leadership skill development Challenges Development of new learning materials Time allocation to course themes Initial commitment of LNPs Quantitative data will take time to collect to fully assess effectiveness

Leadership Emphasis Area

Drake University and the DELTA Rx Institute Curricular Skills Course activities Minor Rotation experiences Co-curricular Competitions Speakers Entrepreneurship Day Internships

Drake CPHS Proposed Skills (Draft) Harvest the venture -Reflection -Evaluation -Professional stewardship Identify an opportunity 1 Identify needs and solutions to problems Calculated risk-taking Develop the concept Innovative and creative problem-solving Research and decisionmaking Implement and manage Teamwork Perseverance Determine the required resources -Life-long learning -Economic Analysis Acquire the necessary resources Communication of ideas effectively to create buy-in Prioritization Morris MH, Kuratko DF, Schindehutte M, Towards integration: understanding entrepreneurship through frameworks, Entrepreneurship and Innovation, February 2001, pp 35-49.

Curricular Mapping of Course Activities Opportunity Identification Identify needs/risk-taking Empathy building exercises: What products/services can be developed? Develop the Concept Innovation/Creativity/Problem-Solving Make a proposal to a preceptor

Curricular Mapping of Course Activities Determine and Acquire Necessary Resources Lifelong Learning, Communication, Economic Evaluation, Prioritization Timed presentations - Elevator Pitches Experiential activities Implement/Manage/Harvest Teamwork/Perseverence/Reflection & Evaluation/Professional Stewardship Jigsaw Method Ethical Discussion

Entrepreneurial Leadership Minor Understand the role of entrepreneurs as leaders in society Develop a realistic understanding of what to expect as an entrepreneur Accurately assess one s personal level of entrepreneurial potential Develop leadership, team-building, and other management skills required in the entrepreneurial environment Recognize the ethical and moral issues involved in leading entrepreneurial endeavors

Curriculum Rationale Flexibility Consider all aspects of entrepreneurship, including social entrepreneurship Coursework Intro to Accounting Microeconomics Entrepreneurial Leadership New Venture Feasibility Analysis Marketing Principles New Venture Capstone Electives - 6 credits

Entrepreneurial Leadership Electives Required of Pharmacy Students Management in Pharmacy Experiential Rotation Additional Elective Options Shaping Your Pharmacy Future Profit Planning and Control Management Process and Behavior Management of Operations Business and Administrative Communication

Co-Curriculum Mentor Dinners Entrepreneurial Leadership Programs Entrepreneurs Presentations Creativity & Innovation Speakers Student Leadership Development Series Entrepreneurial Competitions Drake s Next Top Entrepreneur Competition NCPA Business Plan Competition Drake Competitions (Passion, Business Plan) Internships

Drake s Next Top Entrepreneur Competition Rounds 1st round: 3 minutes to present a healthcare related idea 2nd round: Given a healthcare problem, have 60 minutes for brainstorming and 3 minutes to present a solution 3rd round: Present a mini-business plan Prizes after each round with grand prizes to top 3 following 3rd Round Judges - each round, consist of a panel of 3 judges representing pharmacy, healthcare, and business

Entrepreneurial Leadership Summer Internships Practices Compounding Pharmacy Chain Practice Independent Pharmacy Shaping Your Pharmacy Future Program Modules Application to the practice setting Mentoring from practitioner (access to modules)

Conclusion Entrepreneurship is a mindset that requires innovation, creativity, leadership Curricular and co-curricular activities can be beneficial Program examples are feasible to be incorporated elsewhere