Can Entrepreneurship Be Taught

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Question 3 • Can we teach entrepreneurship and bring some entrepreneurial awareness and changes among individuals. Give evidence

Approach in answering the Question
• Definition of Entrepreneurship • Entrepreneurship education • Approaches to teach entrepreneurship • Conclusion

The concept of entrepreneurship
There is no universal agreed definition of entrepreneurship. However, Entrepreneurship is defined differently by different scholars. Schumpeter (1934) defines Entrepreneurship as a person’s ability to be innovative in terms of goals, methods of production, markets, sources of supply and industrial organization.

The concept of entrepreneurship cont….
Also, Craven (2008) believes that all successful entrepreneurs have key traits such as impatient, results driven, a strong need for achievement and set high but realistic and achievable goals.

The concept of entrepreneurship cont….
Hinrich and Peters (1995) defines Entrepreneurship as the process of creating something different with value by devoting the necessary time and efforts, assuming the accompanying financial, psychic and social risks, and receiving of monetary and person satisfaction and independence

The concept of entrepreneurship cont..
• Kirzner(1992) defined the concept of entrepreneurship as “alertness” to profit opportunities. • He argues that entrepreneur is alert to a new product or a superior production process and steps in to fill this market gap before others.

The concept of entrepreneurship cont..
• Cantillon, Knight, and Mises (1921) Defined entrepreneurship as consisting of judgmental decision-making under conditions of uncertainty. • Knight (1921) introduces judgment to link profit and the firm to uncertainty

The concept of entrepreneurship cont……
• Schultz(1979) defined entrepreneurship as the ability to adjust, or reallocate one’s resources, in response to changing circumstances. • Schultz also adds that “No matter what part of the economy is being investigated, we observe that people are consciously reallocating their resources in response to changes in economic conditions”

Can we teach entrepreneurship?
Is entrepreneurship an innate ability or an acquired skill? Can entrepreneurial expertise be achieved and enhanced through education and training? Are certain people “born” to be entrepreneurs or to act entrepreneurially?

Entrepreneurship education
• Entrepreneurship education is considered as the structured formal conveyance of entrepreneurial competencies (Fiet,2001), which in turn refer to the concepts, skills and mental awareness used by individuals during the process of starting and developing their growth-oriented ventures.

Entrepreneurship education cont…
• Moreover, entrepreneurial learning refers to the active (formal and informal education) and cognitive processes individuals employ as they acquire, retain and use entrepreneurial competencies (Young, 1997).

Approaches to teach entrepreneurship
Entrepreneurship is a highly elastic term. The academic study of entrepreneurship has been described as “a broad label under which a hodgepodge of research is housed” (Shane and Venkataraman, 2000) and a “cacophony of results and ideas” (Gartner,1999).

Approaches to teach entrepreneurship cont..
In this context, it is not surprising that entrepreneurship curricula vary widely in content and approach. Some focus on particular skills or attributes, while others emphasize a broader “entrepreneurial way of thinking”.

Approaches to teach entrepreneurship cont..
For these reasons, the question, Can entrepreneurship be taught? (or, alternatively, How can entrepreneurship be taught?) is too broad. The question need to be asked separately for different approaches to entrepreneurship, or for groups of skills or abilities or modes of thinking commonly described as entrepreneurial.

Approaches to teach entrepreneurship cont..
• For the purposes of this discussion, let us...
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