AACSB 2005 Entrepreneurship

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AACSB International Conference and Annual Meeting, 2005 San Francisco, CA: 

AACSB International Conference and Annual Meeting, 2005 San Francisco, CA Entrepreneurship: In the Curriculum & Across the University


Goals and Format Share Information Provide Examples Stimulate Conversation Practical Information to Implement


Why is Prentice Hall Sponsoring This? “Do right by your customers, and the long-term profits will come”.


The Panel

Dean of the College of Business and Economics at Washington State University Philip L. Kays Distinguished Professor in Management Information Systems: 

Dean of the College of Business and Economics at Washington State University Philip L. Kays Distinguished Professor in Management Information Systems Leonard (Len) Jessup


The Case for Entrepreneurship Within University Settings National need for management of innovation Privatization of state universities Universities as economic development engines Business School is key cylinder Infuse across campus, driven by Business School Companies wanting “Intrapraneurial” graduates Appeals to alumni who are successful entrepreneurs Helps future alumni to be successful


The WSU Entrepreneurship & Innovation Initiative We’re good at entrepreneurship, but it was a silo Radical changes championed by alumnus Gus Grant (Sprint) Now much more a University-wide approach Undergraduate offerings and MBA program reengineered Business Plan Competition much larger and critical 25-year-old SBDC ramped up New building with Entrepreneur Hall of Fame “Power Breakfast” and “Entrepreneur in Residence”


Is this an Entrepreneurial Renaissance?


Foreman R. and Ruby S. Bennett Chair in Business Adminstration Texas A&M University R. Duane Ireland

Entrepreneurship: Past, Present and Future: 

Entrepreneurship: Past, Present and Future R. Duane Ireland Mays Business School Texas A&M University


Agenda What is entrepreneurship? How can we describe entrepreneurs? What is driving the continuing interest in entrepreneurship? Entrepreneurship as an academic field Entrepreneurship journals Entrepreneurship centers & programs Entrepreneurship education Who do we need? How do we do this?

What is Entrepreneurship?: 

What is Entrepreneurship? From an academic perspective Identifying & pursuing opportunities That aren’t seen by others Creating newness Products, processes, services, corporate renewal Following a process Deciding to be an entrepreneur Developing successful business ideas Starting a venture Managing and growing a venture

What is Entrepreneurship? (Continued): 

What is Entrepreneurship? (Continued) In terms of the business environment Launching new ventures Outperforming competitors Innovating Contributing to society

Characteristics of Entrepreneurs: 

Characteristics of Entrepreneurs Entrepreneurs Have a high need for achievement Have a passion for their business idea Are tenacious despite failure Have a strong focus on customers Have execution intelligence “To open a business is very easy; to keep it open is very difficult”

Drivers of a Continuing Interest in Entrepreneurship: 

Drivers of a Continuing Interest in Entrepreneurship Opportunities surfaced by change Growth in the service sector Outsourcing Global economy Favorable view of entrepreneurs & of ventures

Entrepreneurship As an Academic Field: 

Entrepreneurship As an Academic Field Field is young 1947—offering of first course at Harvard 1970—first academic conference at Purdue 1980—first “State of the Art” conference at Baylor 1981—first Babson Research Conference at Babson 1987—Entrepreneurship interest group becomes a division of the Academy of Management

Entrepreneurship Journals: 

Entrepreneurship Journals Journals The source of academic legitimacy 1963—Journal of Small Business Management 1975—American Journal of Small Business 1985—Journal of Business Venturing 1988—AJSB becomes Entrepreneurship Theory & Practice 2005—In excess of 50 dedicated entrepreneurship journals Published across the world

Entrepreneurship Centers & Programs: 

Entrepreneurship Centers & Programs Over 100 centers Housed in universities & colleges across the globe Increasing center diversity in terms of outreach Various types of unique programs Increasing diversity in terms of mission Integrating outreach with internal activities

Entrepreneurship Education: 

Entrepreneurship Education Educational offerings continue to expand Over 400 universities & colleges offer courses Total number of course offerings exceeds 1100 Offerings come in multiple forms including those of Majors Concentrations Certificate programs

Entrepreneurship Education--Continued: 

Entrepreneurship Education--Continued Key to success Developing courses & offerings On the basis of one or more units unique Opportunities Strengths/skills

Who Do We Need?: 

Who Do We Need? Interested stakeholders Students Faculty Local business people Administrators Funding sources (e.g., foundations)

How Do We Get This Done?: 

How Do We Get This Done? Hire faculty & support them Think across units Identify unique opportunities to deliver unique services Facilitate resource transfers Communicate entrepreneurship’s importance to funding sources Consider interuniversity collaborations Network with “like-minded” people National Consortium of Entrepreneurship Centers Plant a flagpole


Murata Dean of the F.W. Olin Graduate School of Business at Babson College Jeffry A. Timmons Professor of Entrepreneurial Studies Mark P. Rice


Mark P. Rice, Ph.D. Murata Dean, and Jeffry A. Timmons Professor of Entrepreneurial Studies AACSB Annual Conference Prentiss Hall Panel on Entrepreneurship April 22, 2005 Creating the Entrepreneurship Ecosystem: Curricula and Co-curricular Programs 


Evolution of E’ship Curriculum: The Typical Pattern Project or Business Plan Writing Class (often taught by an adjunct professor) Intro to Entrepreneurship Entrepreneurship Concentration Entrepreneurship + another discipline (marketing, finance, strategy) Entrepreneurship across the curriculum


Babson’s Curriculum Today Entrepreneurship Concentration Entrepreneurship across the curriculum E’ship in the Mods Foundation Specialty Support


Babson College Co-curricular Programs: Creating the E’ship Ecosystem Top rated E’ship curriculum: #1 E’ship Program 12 years in a row The Hatchery Price -- Babson Fellows Program (1980) Academy of Distinguished Entrepreneurs (1980) Babson – Kauffman E’Ship Research Conference (1980)


Babson College Hatchery: Related Support Programs #1 E’ship Program The Hatchery E’ship Teacher Training Academy Research Conference Babson Brain Trust Babson Seed Fund Business Plan Competitions Rocket Pitch Competition Undergraduate Hatchery Entrepreneurial Intensity Track Olin College Foundry Babson – Battelle Labs Tech Transfer Partnership



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