Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
The Correlation between Students’ Entrepreneurial
Capacities and Entrepreneurial Project’s Success Rate
Maria Christina Liem and Eric Yosua
Purpose – This paper is purposed to examine the correlation between Entrepreneurial Capacities and
Entrepreneurial Project‟s Success Rate. Students‟ Entrepreneurial Capacities are divided as
intelligent, personality, creativity, entrepreneurial talent and entrepreneurial interest. On this paper,
the entrepreneurial project success rate has been limited into two tangible measurements: financial
gain and market positive response. Financial gain will be determined by student‟s entrepreneurial
sponsorship achievement and event‟s financial profit. While market positive response will be identified
by student‟s personal achievement in gathering audience during the event and the event‟s audience
in total three days. In additional, students‟ learning experiences of this entrepreneurial project will be
considered as intangible measurement for entrepreneurial education‟s success rate.
Design/methodology/approach – This research is designed as an action based research with
explorative descriptive method to test correlation between B1 to B13 correlation test with B14; and B1
to B13 correlation test with B15. The data collected through quantitative and qualitative approaches;
and it‟s been analyzed through „R‟ statistic descriptive analysis. The students‟ intelligent,
entrepreneurial talent and personal interest have been examined through CFIT (Culture Fair
Intelligent Test) and APM (Advance Progressive Matrix) tests. Meanwhile, in order to analyze success
rate of the event, the data has been collected through open-ended questioners to all 85 students and
in-depth interview.
Findings – Research result shows that tendency to act and ability to observed feasibility have
correlation positive with student‟s entrepreneurial sponsorship achievement, but insignificant.
Furthermore, students with social responsibility have correlation positive with student‟s personal
achievement in gathering audience during the event, but insignificant. Other independent variables
have no correlation with B14 and/or B15. Meanwhile, the entrepreneurial project has been successful
being conducted and generated financial profit as much as IDR 50 million with total audience more
than 3,000 visitors and participants during all three days event. Students have learned important
learning experiences while they had prepared and conducted this entrepreneurial project. Both
findings above explain that the road map of entrepreneurial learning journey more significant affected
entrepreneurial project‟s success rate comparing with student‟s personal intelligent ratios, personality,
creativity, entrepreneurial talent, and entrepreneurial interest.
Practical implications – This results show that there is no correlation between students‟ intelligent,
personality, creativity, entrepreneurial interest and talent with entrepreneurial project‟s success rate.
However, the design of learning journey is the key to encourage and inspire students to practice and
put their best efforts for the success of their entrepreneurial project. Therefore, the challenge for
educators in hospitality and tourism is to design a creative and innovative road map for students to
learn and experience an entrepreneurial education.
Originality/values – This paper idea is original because research results are expected to be provided
the correlation between students‟ intelligent, student‟s personality, students‟ entrepreneurial interest
and students‟ entrepreneurial talent with the success of entrepreneurial project as a part of
entrepreneurial education for IHTB students. The idea is to examine the significant correlation with
entrepreneurial project‟s success rate. By knowing the correlation, the entrepreneurial education in
IHTB could be constantly innovated in term of providing entrepreneurial experience to IHTB students.
Keywords: Entrepreneurship, Financing, Entrepreneurial education, Hospitality and
tourism business, Event management
Field of Research: Entrepreneurial Education, Finance, Hospitality and Tourism
Business
__________________
Maria Christina Liem, S.T., M. Com, International Hospitality and Tourism Business (IHTB) University
of Ciputra, Indonesia, Email: maria.liem@ciputra.ac.id
Eric Yosua, S.E., International Hospitality and Tourism Business (IHTB) University of Ciputra,
Indonesia, Email: eyosua@ciputra.ac.id
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
1. Introduction
1.1. Entrepreneurial Education for International Hospitality and Tourism
Business (IHTB) Students
IHTB as one of program study in University of Ciputra - Surabaya, focuses to equip
students with entrepreneurial experience with purpose to inspire students to be
entrepreneurs in hospitality and tourism industry. Sparkling Surabaya Tourism Fiesta
(SSTF) 2012 is first semester entrepreneurial project for IHTB students.
IHTB Curriculum is designed to provide entrepreneurial learning journey for students.
The first semester to the fourth semester, all students will have opportunity to
explore and discover business opportunity in hospitality and tourism fields. The fifth
semester, students are expected to start-up his/her own business in hospitality
and/or tourism industry. Finally, the IHTB entrepreneurial learning journey is
purposed to enable students to be entrepreneurs in hospitality and/or tourism
industry. The entrepreneurial education in IHTB is a learning journey to be
entrepreneur as entrepreneurship could be taught (Anselm, 1993; Gorman, 1997).
Financial gain is one of success indicators of the entrepreneurial project, including
this Sparkling Surabaya Tourism Fiesta (SSTF) 2012, the enterprise education
focusing on funding (McLarty, Highley & Alderson, 2010). Financial gain as
economic impact analysis is one of the instruments that policy makers can use to
support effective decision making process, by comparing the return of the events
and their whole economic impact with alternative investments (Lucia, 2012). The
effectiveness of this tool in supporting investment decision making in events is
strongly conditioned by the primary data collected on the number and type of visitors
to an event (tourists, same day visitors) and their expenditure. However, the
questionnaires generally used in surveys collect people’s preferences and intentions
around consumption rather their actual consuming and spending behaviours (Martin
& Bateson,1985). Due to above consideration, this paper is focused on the revenues
from sponsorship.
Positive market response is presented by the total visitors in total as another
success indicator of this entrepreneurial project, SSTF. SSTF as an event tourism
stands at the connection of tourism and event management and involves event
planning and marketing in the pursuit of tourist and place marketing objectives (Getz,
2008). A plenty literature supports the growing role of events in attracting tourist
flows (among others Bos, 1994; Ritchie & Beliveau, 1974; Ryan, Smee, Murphy, &
Getz, 1998; Yoon, Spencer, Holecek & Kim, 2000), and creating an image,
positioning and branding cities and destinations (Charlip & Costa, 2006; Getz &
Fairly, 2004; Hede, 2005; Ritchie, Sanders & Mules, 2006; Ali, 2003; Li & Vogelsong,
2005; Ritchie, Sanders, & Mules, 2006; Smith, 2005).
SSTF as an entrepreneurial project of the first semester IHTB students is designed
as tourism event with main activity is exhibition event. As the exhibition industry,
SSTF provides a suitable context to extend the understanding of brand value and the
process of branding, given its inherent characteristic. It is 1) a service industry, 2)
represent B2B and/or B2C markets, 3) has multiple distribution channels, and
involves multiple stakeholders (including organizers, exhibitors, visitors, venues, and
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
destination management parties) that contribute to the brand value and branding
exhibition. (Jin & Weber, 2013).
SSTF is an entrepreneurial learning project that IHTB students could practice the
excellent customer service as a soul of hospitality industry. IHTB students are
expected to be able to communicate with decision makers for sponsorships,
communicate with tourism objects management in Surabaya, communicate with
competitions participants, and communicate with visitors. SSTF idea is generated by
IHTB students in order to stronger the Surabaya city branding, Sparkling Surabaya.
1.2. The first semester of IHTB Entrepreneurial Project : Sparkling Surabaya
Tourism Fiesta (SSTF) 2012
Today, hospitality educators are faced with various challenges. Understanding multiethnic and multi-national student mentality is seen as the key challenge for
educators involved in international hospitality management education (Jayawardena,
2001). The roles of educators are to prepare young people to manage the
sustainability challenges and to motivate them into creating new, entrepreneurial
responses for people and communities around the planet (Legrand, Sloan, Krebs, &
Tooman, 2011). Criticisms of business education in general are insufficient attention
to managing people; insufficient attention to oral and written communication;
insufficient attention to external environment; insufficient attention to the international
dimension of business; insufficient attention to entrepreneurism; and insufficient
attention to ethics (Porter and McKibbon, 1988).
Entrepreneurial learning journey in IHTB is focused to develop students’ intention in
entrepreneurship. Moreover, through entrepreneurship, students are expected to
learn and experience people management; also learn and practice to communicate
with other people in market place and understanding business ethics. SSTF is the
first entrepreneurial project of IHTB University of Ciputra, in term of project financing,
project idea and implementation. SSTF project value is calculated as much as IDR
350 million in total must be a self-financing project for IHTB students, with three
conditions, as follows:
1. IHTB students are not allowed to finance this project with their own fund
2. IHTB students are permitted to ask their parents and close family to funding this
project
3. IHTB students are not allowed to ask university to financing this project
IHTBG students are directed to gain the project fund through sponsorship activities.
The result of sponsorship activities could be divided into two type of sponsorship,
which is through cash financing, and non-cash financing. SSTF 2012 had been held
for three days at one of the famous mall in Surabaya, on the week end in October
2012. This event had been presented by IHTB with fully supported by Surabaya
Tourism Board. SSTF is a local festival that presents Surabaya Tourism Objects,
tours and travel agents, hotel and restaurant, local traditional art attractions, senior
high school students’ competitions, and seminars about hospitality and tourism.
1.3.
Road Map
The important competencies of tourism education are problem solving competency,
personality traits, communication competency, socio cultural competency and
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
entrepreneurial competency (Muller, 2002). Entrepreneurial project is designed to
equip students with those important competencies above. Some personality traits
play an important role in influencing the students’ intention to become entrepreneurs
and students with higher education have a higher intention of becoming
entrepreneurs (Ertuna, 2011).
This entrepreneurial project is worth six credits, two credits from Psychology of
Service (POS) and four credits from Culinary Tour Project (CTP). After completing
this entrepreneurial project, students will able to accomplish 3 (three) aspects of
learning process: cognitive, affective and psychomotor with standard competency as
follow:
1. Cognitive: Students will able to implement the basic knowledge about event
management and financing into a real entrepreneurial project
2. Affective: Students will able solve predicted and unpredicted problem during the
event preparation; and demonstrated good communication skills
3. Psychomotor: Students will able to combine service knowledge and demand in
order to organize event and gain zero defect customer complaint
IHTB prepares a learning journey for students to gain the entrepreneurial
experiences since students’ first semester. SSTF is designed for IHTB students to
learn and practice about event management and organizer with entrepreneurial
spirit. The targets of this entrepreneurial project for IHTB students are a profitable
project and delighted customers. IHTB student as a hospitality student learns how to
create a memorable memory for customers, including for all sponsors, participants
and audience. Therefore, this first entrepreneurial project of IHTB is directly
supported by two courses; firstly, Psychology of Service (POS) is designed to equip
IHTB students with the basic knowledge of hospitality mindset and be able deliver a
memorable service to all customers. Secondly, Culinary Tour Project (CTP) that
provides a basic knowledge about culinary and tourism. Knowledge of POS and CTP
courses need to be implemented by IHTB students through SSTF.
This entrepreneurial learning journey is divided into 5 leaning sequences:
1. Understanding the task, rules, and financial target
2. Observation the target market and its current trend to meet them
3. Conceptualizing the idea, business model, event management, financing,
strategy, and promotion strategy
4. Validating through market response testing, business model canvas, and event
run-down
5. After develop and finding a positive market response, the next learning sequence
is implementing through conducting the event
Target market of this entrepreneurial project is senior high-school students. As a
main customers, senior high school students need is a starting point in
conceptualize, these must be weighed against other factors (Pearce, 2009). The
company (event organizer) must understand the services its customers require and
then balance the needs of those customers against the feasibility and costs of
meeting them (Kotler, Bowen & Makens, 1996).
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
STTF as tourism event is chosen as the first entrepreneurial project because through
event management education, students will gain holistic knowledge and experience
as is stated by Getz (2000)
After completing this entrepreneurial project, IHTB students had done self-reflection
as a part of evaluation session. Through self-reflection, students share what they
had learned through the first entrepreneurial learning journey at IHTB. The result will
be presented on the research result part.
2. Study Literature
2.1. IHTB Students’ Entrepreneurial Capacities
The following part is presented five test results that all students had been through
previously: intelligent test, personality test, creativity test, entrepreneurial talent test
and entrepreneurial interest test. The test results are collected and interpreted by
Capacity Building Center (CBC) Department of University of Ciputra. Data from CBC
Department will be examined accordingly together with the results of open-ended
questioner of 85 IHTB students.
Picture 1: IHTB Students Intelligent Test Summary
According to the test result, mostly IHTB students have intelligent in average
(according to APM approach) to Good (according to CFIT approach). Meanwhile,
10.13% (according to CFIT approach) and 20.25% (according to APM approach) of
IHTB students have IQ in marginal to poor scale. On the other hand, 3.80%
(according to CFIT approach) and 6.33% (according to APM approach) of IHTB
students are very smart.
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
Picture 2: IHTB Students Personality Test Summary
Three parts of personality that have been examined are: emotional stability, ego
strength, and social responsibility. In this part, mostly IHTB students have average
emotional stability score, while most of ego strength and social responsibility have
good score.
Picture 3: IHTB Students Creativity Test Summary
Our university founder, Dr (hons). Ir. Ciputra believes the two important parts of
Entrepreneurship are creativity and innovative. Through creativity, we could be
innovative people when our idea has been responded positively by market. The
creativity result shows 92.42% of IHTB students have poor creativity test result.
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
Picture 4: IHTB Students Entrepreneurial Talent Test Summary
The entrepreneurial talent test is divided into three categories which are propensity
to act, perceived desirability and perceived feasibility. Propensity to act is an
indicator to find out the urgency to act when students discover a business
opportunity. Mostly IHTB students fall into marginal and average level. Furthermore,
perceived desirability means how fast the students could identify desire to be
entrepreneur when students discover a business opportunity. 83.50% of IHTB
students have marginal level of perceived desirability. The last category, perceived
feasibility of IHTB students is around marginal and average level. In short, the
entrepreneurial talent test result for IHTB students is worse that the summary of
intelligent test result.
Picture 5: IHTB Students Entrepreneurial Interest Test Summary
67.09% of IHTB students have a high interest in business, and 64.56% of IHTB
students also have high interest in design. Moreover, IHTB students also have quite
high interest in social and math, with average score 13.89% for interest in social; and
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
14.18% for interest in math. In overall, only 1.27% of IHTB students have a poor
interest in social and math. This paper will analyze the correlation between the data
of CFIT and APM test that given from CBC department with success rate of this
entrepreneurial learning journey.
2.2. Theoretical Background
Morrison and O’Mahony (2002) in their discussion of a liberal approach to
undergraduate education for the hospitality programmes finalised their discussion by
saying:
“However, it is proposed that there is potential that traditional management
may be challenged, inherited rituals questioned, and breakout from
historical mindsets achieved to revitalise the future rather than simply
replicate the past”
At root the study of hospitality as a human phenomenon involves the relationship
between hosts and guests (Lashley, 2007). Therefore, in hospitality education, the
learning journey should focus on people relationship, that should been implemented
through theoretical and practice. All events are worth real money to individual
businesses and it can be measured, although little standardization in assumptions
and methods. Economic impact studies are fuelled by the desire to attract support for
events and by way of accountability to sponsors. As well, support events want better
tools to predict success and impacts, to aid in their choices (Getz, 2000).
On the other hand, many special events are unable to earn sufficient revenue to
cover their operating costs. Their financial structure is such that they would not be
run without some form of government assistance (Burgan & Mules, 2000a). This
paper examines the success rate of STTF, and analyzes the correlation between
entrepreneurial project’s success rate with students’ entrepreneurial capacities. The
entrepreneurial project success rate has been limited into two qualities, which are:
financial gain, market positive response, and students’ learning values. Financial
gain represents event value measurement in business category, including
developing business contacts; networking; increasing sales (Getz, 2000).
A literature search was conducted for material addressing the theoretical basis of
economic impact assessment of special events. Useful discussion was found in
Burns et al. (1986); Getz (1987); Crompton and McKay (1994); Crompton (1995);
Dwyer and Forsyth (1997); Delpy and Li (1998); Mules (1999). When undertaking an
economic evaluation of a major event, one of the key issues that need to be
addressed to provide appropriate estimates of economic impact by providing an
estimate of how many people came to the event (Burgan & Mules, 2000b).
Success rate of STTF is evaluated by positive market response that represents by
total visitors during this three days event. Managing in a changing environment
requires capability to make optimal decisions quickly and capability to communicate
(OToole, 2000). Many of these qualities are the ones described in the Critical Chain
(Goldratt 1997) methodology as essential to successful project management and
lacking in traditional project management. As entrepreneurial education, students’
learning values are the most important success measurement compare between all
three success rate limitations.
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
3. Research Methodology
This paper is an action research which refers to a practical way of looking at your
own work to check that it is you would like it to be. Because action research is done
by you, the practitioner, it is often referred to as practitioner based research; and
because it involves you thinking about and reflecting on your work, it can also be
called a form of self-reflective practice McNeiff (2002). The method is explorative
descriptive in order to examine the correlation between thirteen independent
variables as a result of student’s entrepreneurial capacities test (B1 – B13); with two
dependent variables as the measurements of entrepreneurial project’s success rate
(B14 and B15).
Picture 6: Dependent and Independent Variables and Data Sources
Research Plan
This paper is prepared for five months in order to provide continuously improvement
in learning journey of the first IHTB entrepreneurship project. Five learning
sequences understand the problem, observe, conceptualize, validate and implement.
The Correlation Test between independent variables (B1 – B13) with dependent
variables (B14 and B15) by using Pearson Bivariante method.
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
Picture 7: Correlation Test Flow
Research Instruments:
1. IHTB Students’ Entrepreneurial Capacities Test result from CBC Universitas
Ciputra
2. Standard Competencies of Entrepreneurial Projects’ Road Map
3. Qualitative Data Collection for Financial Gain and Total Audience
4. Qualitative Data Collection for IHTB Students’ learning experiences
Data Collection Technique
Research instrument that has been used on this paper are open-ended questioners,
interview results, students’ intelligent test results, entrepreneurial talent test result,
and students’ personal interest test result. Data analysis technique has been used
on this paper is descriptive explorative. Quantitative data collected through
questioner, but the discussion more focusing on descriptive quantitative.
Research Subject and Research Object
Research subject is all 85 first semester IHTB students. Research Object of this
paper is success rate of STTF. Furthermore the success rate is divided by financial
gain, positive market research and students learning values. Another research object
is test result of students’ intelligent, entrepreneurial talent and personal interest. After
that, both research objects will be examined in order to find the correlation between
them.
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
5. Research Results
5.1.
Explorative Descriptive Results
All qualitative data are analyzed through Histogram Graphs method from ‘R’ statistic
programming. The data will be presented individually from B1 to B15 as follows:
Picture 8: Histogram - Despondence’s Gender
Despondence is 85 IHTB students in the first semester 2012, and most of them are
female. This quantity data has been re-cording by:
 Male:
1
 Female: 2
Picture 9: Histogram – Intelligent Test Result: B1 (CFIT) and B2 (APM)
Variables
Mean
Median
SD
0% 25% 50% 75% 100%
B1
12.2727273
12
2.613912 6
11
12
14
18
B2
11.025974
11
4.100623 1
9
11
14
18
Picture 10: Numerical Summaries – Intelligent Test Result: B1 (CFIT) and B2
(APM)
Intelligent Test Methods are CFIT (Culture Fair Intelligent Test) and APM (Advance
Progressive Matrix) tests. However, both intelligent test tools show that most of IHTB
students have score around average (9 -12) and good (13 – 16). The mean of CFIT
is higher compare with APM.
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
Picture 11: Histogram – Entrepreneurial Interest: B3 (Business); B4 (Social);
B5 (Design); B6 (Math)
Variables
B3
B4
B5
B6
Mean
Median
SD
17.4025974
18 2.566278
13.8831169
13 3.40655
16.9350649
18 3.249849
14.1948052
14 4.553885
0%
11
3
9
3
25%
16
12
15
11
50%
18
13
18
14
75% 100%
20
20
17
20
20
20
19
20
Picture 12: Numerical Summaries – Entrepreneurial Interest: B3 (Business); B4
(Social); B5 (Design); B6 (Math)
The highest interest mean is B3 (Business): 17.4025974 on the other hand, the
lowest mean is B4 (Social).
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
Picture 13: Histogram – B7 (Creativity)
Variables
Mean
Median
SD
B7
2.1168831
1 1.669967
0%
1
25%
1
50%
1
75%
3
100%
11
Picture 14: Numerical Summaries – B7 (Creativity)
B7 (Creativity) is the lowest test result of IHTB students’ entrepreneurial capacities.
B7 (Creativity) has the lowest mean: 2.1168831 compared with others independent
variables test results.
Picture 15: Histogram – Personality: B8 (Emotional Stability); B9 (Ego
Strength); and B10 (Social Responsibility)
Variables
Mean
Median
SD
B8
10.1428571
9 3.42481
B9
9
9 4.304221
B10
9.9350649
13 4.200055
0%
5
1
1
25%
9
5
5
50%
9
9
13
75% 100%
13
17
13
17
13
17
Picture 16: Numerical Summaries – Personality: B8 (Emotional Stability); B9
(Ego Strength); and B10 (Social Responsibility)
In general, IHTB students have more social responsibility compared with emotional
stability and ego strength
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
Picture 17: Histogram – Entrepreneurial Talent: B11 (Propensity to Act); B12
(Perceived Desirability); and B13 (Perceived Feasibility)
Variables
Mean
Median
SD
B11
8.8051948
9 2.158453
B12
7.1168831
7 1.347259
B13
8.3506494
9 1.998462
0%
1
2
1
25%
8
7
7
50%
9
7
9
75%
10
8
10
100%
15
11
12
Picture 18: Numerical Summaries – Entrepreneurial Talent: B11 (Propensity to
Act); B12 (Perceived Desirability); and B13 (Perceived Feasibility)
According to B11; B12; and B13; entrepreneurial talent of IHTB students generally in
average score (7 or 9 out of 20 points).
5.2.
Correlation Test Results
On this paper, each correlation of B1 – B13 as independent variables examines
separately with B14 and B15 as dependent variable, in order to find the correlation
between students’ entrepreneurial capacities and entrepreneurial project’s success
rate. Correlation test that has chosen on this paper is Pearson Bivariate, and this
correlation describes the relation power between two interval / ratio scale variables.
Picture 19: Correlation Between Intelligent Test Result: B1 (CFIT); B2 (APM)
with B14 (Financial Gain) and B15 (Total Audience)
As result shows above, p-value is bigger than α=5%, means there is no correlation
between B1; B2 with B14; B15.
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
Picture 20: Correlation Between Entrepreneurial Interest Test Result: B3
(Business); B4 (Social); B5 (Design); B6 (Math) with B14 (Financial
Gain) and B15 (Total Audience)
Similar with correlation test above, entrepreneurial interest test result has no
correlation with B14; B15; since p-value is bigger than α=5%.
Picture 21: Correlation between B7 (Business) with B14 (Financial Gain) and
B15 (Total Audience)
Correlation test result of B7 with B14 and B15 is no correlation, because p-value is
bigger than α=5%.
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
Picture 22: Correlation Between Personality: B8 (Emotional Stability); B9 (Ego
Strength); B10 (Social Responsibility); with B14 (Financial Gain)
and B15 (Total Audience)
P-value = 0.03836 is smaller than α = 5% means correlation test of B10 and B15 is
positive. However the correlation is not significant enough because the value of
correlation is 0.2365239 < 1.0. So, the entrepreneurial project’s success rate in term
of total audience is correlated with social responsibility but insignificant.
Picture 23: Correlation Between Entrepreneurial Interest Test Result: B11
(Propensity to Act); B12 (Perceived Desirability); B13 (Perceived
Feasibility); with B14 (Financial Gain) and B15 (Total Audience)
According to correlation result test above, financial gain (B14) is correlated with B11
(Propensity to Act); and B13 (Perceived Feasibility) because the p-value of B11 &
B14 is 0.02491; and B13 & B14 with p-value = 0.02491, which both of correlation,
the p-value is smaller than α=5%.
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
5.3.
Students’ Learning Results of Entrepreneurial Project
This paper shows IHTB students’ learning results of this entrepreneurial project
experience that divided by:
 Students’ Attendance
 Students’ Response about Sponsorship Assignment
 Students’ Response about Entrepreneurial Project Assignment
 Students’ Learning Achievement
Students’ Attendance
Attendance record of three days entrepreneurial project is presented as below:
Picture 24: Students’ Attendance
The event conducted on October 19th, 20th, 21st, 2012 at Tunjungan Plaza
Convention Hall, 6th floor. Students must attend all three days event from 09.30 am
to 10.00 pm with 15 minutes late tolerance. The graph shows 1% of 85 students
were absent on the last date due to sickness.
Students’ Response about Sponsorship Assignment
76% of 85 students had negative impression in the first time when sponsorship
assignment had been announced. Following graphs show the detail first impression
related with sponsorship assignment.
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
Picture 25: Students’ First Impression about Sponsorship Assignment
Most of IHTB students had negative impression about sponsorship assignment with
most of the reason is difficult impression. Only view students positively accept
sponsorship assignment and straight forward find the potential sponsors without any
delay.
The paper also descriptively shows sponsorship assignment result as follows:
The sponsorship result shows 76% of IHTB students successfully gain financing
from sponsorship. Therefore, negative impression in the beginning is not determining
the success rate of gaining sponsorship. After announcing about sponsorship
assignment, students were equipped with the related knowledge and technique to
gain sponsorship, which is focusing on win-win solution instead of asking for funding.
Also, students were given some direction to start exploring the potential company for
sponsorship and its benefits for joining the event.
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
Picture 26: Students’ Sponsorship Result
As a result, 76% out of 85 students gain sponsorship up to IDR 14 Million for each
person, and total sponsorship collected is IDR 125 million in cash base, IDR 15
million from selling ticket entrance (IDR 5,000 x 3,000units) and cross-branding
sponsorship without cash involve, which made IDR 50 million out of IDR 350 million
projects value. Some samples of cross-branding sponsorship were event location,
stage, sound system, billboard promotion, mineral water, and printing. From in-depth
interview, it is found that students who gain sponsorship more than IDR 10 Million
have an attitude to straight forward find the potential sponsorship, while most other
students felt difficult, or afraid.
The paper also captured students’ felling when they gain their first sponsorship,
either cash or cross-branding sponsorship as below detail:
Picture 27: Students’ Feeling when gained the first sponsorship
72% students who successful gain sponsorship feel happy, moreover 23% stated
that they very happy. Through sponsorship assignment, the learning journey is
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
design to provide students an experience of negotiation that focusing on win-win
solution and meeting decision maker of the company professionally who could be a
new business networking for students. Students’ Response about Entrepreneurial
Project Assignment Students show different response when they informed an
entrepreneurial project assignment compare with sponsorship assignment. 60% of
students have positive response of entrepreneurial project since the beginning.
Picture 28: Students’ First Impression about the Entrepreneurial Project
Picture 29: Students’ First Impression (in Detail) about the Entrepreneurial
Project
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
Three reasons why students received this entrepreneurial project negatively
were:
1. Students thought this entrepreneurial project is impossible to be implemented
2. Students afraid because they thought this entrepreneurial project had low
possibility for success
3. Students confused how to start the entrepreneurial project
Four reasons why students received this entrepreneurial project positively
were:
1. It was an excited entrepreneurial project
2. Students have a great feeling about this entrepreneurial project
3. Students felt be challenged to conducted this entrepreneurial project in the first
semester
4. Students felt proud to present this entrepreneurial project to public
After completed the entrepreneurial project, the paper captured students’
evaluation about this project as follow:
1. 82% students agreed this entrepreneurial project was successful due to financial
profitability
2. 9% students thought that this entrepreneurial project was almost successful
because there were some complaints from participants, even though it has been
solved
3. 9% students thought that this entrepreneurial was unsuccessful because the
audience crowed only on Saturday and Sunday, even though the total audience
for three days was achieved.
Picture 30: Students’ Evaluation Result
Students identified nine challenging problems: finding sponsorship, complaint
handling, participant handling, run-down problems, ticketing, stand coordination,
event coordination, audience handling and teamwork. 19% students admitted that
ticketing is the most challenging problem. Furthermore, students identified ten
solutions to solve all the problems during the entrepreneurial project. Students stated
ability to explain and ability to negotiation were the most effective tools to solve
sudden problems during the event.
During event evaluation, students identified the challenging problems show on below
graph:
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
Picture 31: Problems and Solutions during the Event
Students’ Learning Achievements
Entrepreneurial project standard competencies:
1. Cognitive: Students will able to implement the basic knowledge about event
management and financing into a real entrepreneurial project
2. Affective: Students will able solve predicted and unpredicted problem during the
event preparation; and demonstrated good communication skills
3. Psychomotor: Students will able to combine service knowledge and demand in
order to organize event and gain zero defect customer complaint
In order to find out the success rate of learning process, this paper is examine
students’ learning result during five months preparation and three days
entrepreneurial project; and it shows 12 learning results, with detail as follows:
 Entrepreneurial Project Management:
1. Event Management (18%)
2. Teamwork (15%)
3. Time Management (8%)
4. Sponsorship (8%)
5. Promotion Strategy (6%)
 Delighted Customers:
6. Negotiation Skills (4%)
7. Complaint Handling (10%)
8. Customer Handling (6%)
 Entrepreneurial Mind-Set:
9. Responsibility (9%)
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
10. Empathy (9%)
11. Handwork (4%)
12. Independent (1%)
Picture 32: Students’ Learning Result
According to students’ learning result above, entrepreneurial project is an effective
tool for hospitality and tourism students to learn and experience entrepreneurial
education. It shows students’ learned more than it expected on the standard
competencies, as it is stated on learning contract.
6. Conclusion and Suggestion
This research is to answer curiosity the correlation between students’ entrepreneurial
capacities and the success of entrepreneurial education. The paper examined the
correlation students’ entrepreneurial capacities and the entrepreneurial project’s
success rate to answer above curiosity. Furthermore, the purpose of this paper is to
enhance entrepreneurial learning process for hospitality and tourism students.
Therefore, the benefit of the research results is to find out the significant factors to
learn entrepreneurial mind-set for hospitality and tourism students. The result shows
that there is no significant correlation between students’ entrepreneurial capacities
and the success rate of entrepreneurial project that presented by financial gain and
total audience. Two factors of entrepreneurial talent: tendency to act and ability to
observed feasibility have correlation to the success of financial gain, but insignificant.
On the other hand, students with social responsibility have correlation positive with
student’s personal achievement in gathering audience during the event, but the
correlation insignificant.
Since the entrepreneurial project is successful conducted with two quality
measurements: reach financial gain as much as IDR 50 million and achieved the
target of total audience as much as 3,000 people in total three days. The research
had continued to find the success factor of this entrepreneurial project. Through
explorative descriptive approaches, and open-ended questioner to all 85 IHTB
students, the analysis result shows students learned and experienced
Proceedings of 23rd International Business Research Conference
18 - 20 November, 2013, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-36-8
entrepreneurial education more than it is targeted on the standard competencies of
the course. Students learned about entrepreneurial project management, delighted
customers and entrepreneurial mind-set. Students also identified nine challenging
problems: finding sponsorship, complaint handling, participant handling, run-down
problems, ticketing, stand coordination, event coordination, audience handling and
teamwork. And ten effective solutions to solve those problems, such as: explaining,
follow up, apologized, flexible, negotiated, firm, daily evaluation, self-rewarding,
asking friends help and asking lecturers help. Finally, the research result shows even
though there is no significant correlation between students’ entrepreneurial
capacities (intelligent, personality, creativity and talent) with the success of
entrepreneurial project’s success rate, as one of entrepreneurial education
approach. However, through quantitative data collected, it shows that students learn
more than road map targeted on standard competencies.
This paper result shows that entrepreneurship is could be learned and the success
of entrepreneurial education is depend on the road map, instead of students’
entrepreneurial capacities.
The suggestion for the next research: to examine the correlation between road map
with entrepreneurial project’s success rate, in order to create an effective and
efficient learning journey of entrepreneurial education for hospitality and tourism
students.
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