Developing Entrepreneurial
Leadership In and Out of the
Classroom
Renae Chesnut, RPh, MBA, EdD
Commitment to
Entrepreneurial Leadership

Collaborations
–
MBA, MPA, Business minor
– Shaping Your Pharmacy Future

CPHS Strategic Plan
–
Instilling an entrepreneurial spirit
– DELTA Rx Institute (www.deltarx.com)

Entrepreneurial Mgmt Major; Minor
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.
 DELTARx.com
–
Articles
– Profiles
– Columns
– Services
– Programs/Courses
–Discussion Board

DELTARx@drake.edu
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
A. Identify an opportunity1
1. Identify needs and solutions to problems
2. Calculated risk-taking
F. Harvest the venture
1. Reflection
2. Evaluation
3. Professional
stewardship
E. Implement and
manage
1. Teamwork
2. Perseverance
B. Develop the concept
1. Innovative and creative
problem-solving
2. Research and decisionmaking
C. Determine the
required resources
1. Life-long learning
2. Economic Analysis
D. Acquire the necessary resources
1. Communication of ideas
effectively to create buy-in
Morris MH, Kuratko DF, Schindehutte M,
“Towards integration: understanding
2. Prioritization
entrepreneurship through frameworks,”
Entrepreneurship and Innovation, February
2001, pp 35-49.
Course Activities Examples

Identify an opportunity
Identify needs/Risk-taking
– Empathy building exercises: What
products/services can be developed?
– “What bugs you?”

Develop the Concept
Innovation/Creativity/Problem-Solving
– Make a proposal to create buy-in
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/Team Based Learning
Ethical Discussions
Entrepreneurial Leadership Minor

Tenets
–
–

Flexibility
Consider all aspects of entrepreneurship, including social
entrepreneurship
Outcomes
–
–
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

Coursework
–
–
–
–
–
–
–
Intro to Accounting
Microeconomics
Entrepreneurial
Leadership
New Venture
Feasibility Analysis
Marketing Principles
New Venture
Capstone
Electives - 6 credits

Pharmacy Courses
–
–

Management in Pharmacy
Experiential Rotation
Additional Elective
Options
–
–
Profit Planning and Control
Management Process and
Behavior
– Management of Operations
– Business/Administrative
Communication
Co-Curriculum

Entrepreneurial Leadership Programs
–
–
–

Entrepreneurs Presentations
Creativity & Innovation Speakers
Student Leadership Development Series
Entrepreneurial Competitions
–
–
Drake’s Next Top Entrepreneur Competition
NCPA Business Plan Competition (placed 2nd
nationally in 2010; 6th in 2011)
– Drake and Statewide Competitions

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
Community Pharmacy
Entrepreneurial Leadership Summer
Internships

Pharmacy Practices
–
Compounding
– Chain Practice and Administration
– Independent Pharmacy

Shaping Your Pharmacy Future Program
Modules
–
Application to the practice setting
– Mentoring from practitioner (access to modules)
Entrepreneurial Education Steps
1)
2)
3)
4)
5)
Faculty team and development
Determine goals
Identify and develop courses and/or
experiences
Implement
Measure the outcomes
1. Development of the
Team/Faculty

Cross-Disciplinary and Collaborative
–
Departmental
– Entrepreneurship Centers/Programs

Development
–
USASBE
– Experiential Classroom (Ok State Univ.)
– DELTA Rx Institute web site
– Faculty development sessions
2. Goals
Instill a spirit of change and innovation in
pharmacy

Develop entrepreneurial leadership in our
students
–
Curricular
– Co-Curricular

National recognition
–
DELTA Rx web site
3. Identify and Develop
Courses/Experiences

Imbedded throughout the curriculum in a variety
of courses through projects, early/advanced
practice experiences
–
Opportunity identification
– The Elevator Pitch
– E-Field Project
– Entrepreneurial Ethics
– The E-Rotation

New Courses
–

Business plan, Finance, Marketing
Concentration, Minor, 2nd Major
4. Implement

Student Awareness
–
Expand definition
– Explain the application



Utilize Entrepreneurial
alums/practitioners
Teaching Methods: Cases, Simulations
Continued Development and Assessment
5. Measure the Outcomes
Great opportunity for research and
scholarship!





PSEO (Pharmacy Student Entrepreneurship
Orientation)
Program Outcomes
Professional organizations/fraternities activities
(new ventures, business plan/skills competitions)
Senior/alumni surveys
Employer surveys