DEVELOPING ENTREPRENEURSHIP CURRICULUM THAT MOVES IDEAS TO REALITY Monday January 26, 2009, 9 am to 4 pm Cochise College, Sierra Vista Campus • 901 North Colombo Avenue • Sierra Vista, AZ 85635 Goal of Workshops: Provide a comprehensive framework for teaching outcome-driven entrepreneurship, including a determination of what to teach, why to teach it, how to teach it, and how to manage it. Presented by the McGuire Center for Entrepreneurship, Eller College of Management, The University of Arizona, www.entrepreneurship.eller.arizona.edu Guillermo "Bill" Quiroga Director of Rural Initiatives and Tribal Liaison McGuire Center for Entrepreneurship Eller College of Management The University of Arizona (520) 621-4210 | bquiroga@eller.arizona.edu C OPYRIGHT BY M C G UIRE C ENTER F OR E NTREPRENEURSHIP , J ANUARY 2009 This is an Equal Opportunity Employer/Program. Auxiliary aids and services are available upon request to individuals with disabilities. Innovation Frontier Arizona is funded by a $5 million WIRED grant and a $2 million Community Based Job Training Grant from the U.S. Department of Labor. The IFA partners have identified an additional $8 million in expected leveraged resources. 1 DEVELOPING ENTREPRENEURSHIP CURRICULUM THAT MOVES IDEAS TO REALITY Workshop #1: Pedagogy 8:00 – 9:00 Registration and Continental Breakfast 9:00 – 10:45 Session 1: Introductions Elements of Teaching Entrepreneurship, Goals of Teaching Entrepreneurship Challenges of Teaching Entrepreneurship 10:45 – 11:00 Break 11:00 – 12:15 Session 2: Critical Success Factors 12:15 – 1:15 Lunch 1:15 – 2:30 Session 3: 2:30 – 2:45 Break 2:45 – 4:00 Session 4: Elements and Phases of New Venture Development, Competency standards for Student Outcomes Wrap up and Projects for Workshop #2 C OPYRIGHT BY M C G UIRE C ENTER F OR E NTREPRENEURSHIP , J ANUARY 2009 2 (60 mins) DEVELOPING ENTREPRENEURSHIP CURRICULUM THAT MOVES IDEAS TO REALITY Workshop 1: A framework for entrepreneurship curriculum: Teaching goals that mirror the venture path Introductions and the essential elements of teaching entrepreneurship Participants: C OPYRIGHT BY M C G UIRE C ENTER F OR E NTREPRENEURSHIP , J ANUARY 2009 Introductions Identify essential elements of teaching entrepreneurship -what absolutely needs to be taught in entrepreneurship? 3 General discussion: Entrepreneurship teaching What is the goal in teaching entrepreneurship? What distinguishes entrepreneurship from routine business education? What are the challenges in teaching entrepreneurship? Focus on input vs output? (45 mins) (1.75 hrs) Discussion path: What is the goal in teaching entrepreneurship? Launch new companies? Launch entrepreneurs? (build rockets or build rocket scientists?) What distinguishes entrepreneurship from routine business education? (innovation, validation) What are the challenges in teaching entrepreneurship Why focus on the input, rather than the output? [early stage assessment, creating a valid concept, then allowing mechanics to follow, such as business plan, etc]. C OPYRIGHT BY M C G UIRE C ENTER F OR E NTREPRENEURSHIP , J ANUARY 2009 Any good concept can get a good business plan A business plan without a 4 good concept cannot succeed Break (15 minutes) 1.75 hrs C OPYRIGHT BY M C G UIRE C ENTER F OR E NTREPRENEURSHIP , J ANUARY 2009 5 Entrepreneur Bill’s critical success factor Five factors critical to the movement of any idea in any environment Problem. Must have a valid problem Affected population. Must understand needs, costs, and alternatives of population affected by problem. Solution. Must have a viable solution Resources. Must have understanding of necessary resources (human, facility, capital, expertise, other) (30 mins) Introduce our entrepreneur: Bill Entrepreneur Bill’s critical success factors: Problem. Must have a valid problem Affected population. Must understand needs, costs, and alternatives of population affected by problem. Solution. Must have a viable solution Resources. Must have understanding of necessary resources (human, facility, capital, expertise, other) Evaluation/validation. How do you know it will work? Evaluation/validation. How do you know it will work? Core success factor: Economically viable solution, which the individual or entity for whom it is designed is willing and able to access. (2.25 hrs) Group discussion Core success factor: Economically viable solution, which the Individual or entity for whom it is designed is willing and able to access. C OPYRIGHT BY M C G UIRE C ENTER F OR E NTREPRENEURSHIP , J ANUARY 2009 6 Lunch break (60 minutes) Model to define entrepreneurship and phases of business (15 mins) Defined Markets/Paths (2.5 hrs) Discussion path: If this in fact reflects the actual venture path, then all elements of teaching entrepreneurship need to identify their entry point into this continuum and need to mirror the path. ________ ________________________________________ Research/ Exploration Innovation _____________ _______ Delivery Mechanism ENTREPRENEURIAL PRINCIPLES APPLIED Activity: Discuss examples of teaching areas/course focus Commercialization [Business] Business = delivery mechanism (means by which goods and services are delivered for individuals or entities for whom they are designed) C OPYRIGHT BY M C G UIRE C ENTER F OR E NTREPRENEURSHIP , J ANUARY 2009 7 Mirroring the idea/venture path, 1: Entrepreneurial mindset (30 mins) Establishing identity for the realistic phases of an idea/venture path Entrepreneurial mindset: phase development. Research Innovation Entrepreneurial Principles Applied Business formation (3 hrs) What is entrepreneurial mindset at various points in this continuum? Group briefly identify each area. Use top row of diagram to demonstrate and record responses. DESCRIPTION OF PH AS E Use group statements to create phase definitions (formulating initial perceptions of opportunity, problem, customer, solution, industry/environment, costs, etc) Group to identify formulation, validation, strategies, bplan authorship, fluency funding, application (bplan authorship might be an insertion) C OPYRIGHT BY M C G UIRE C ENTER F OR E NTREPRENEURSHIP , J ANUARY 2009 8 Mirroring the venture path: areas of focus (45 mins) Identifying the elements that are common to any venture and on which the entrepreneur must focus throughout all stages of the venture path Creating definitions to fit to the broadest possible application (profit driven, not for profit, socially relevant, high tech, fast growth, etc) Research Innovation Entrepreneurial Principles Applied Business formation (3.75 hours) Entrepreneurial areas of focus: element identification. Identifying the elements that are common to any venture and on which the entrepreneur must focus throughout all stages of the venture path Creating definitions to fit to the broadest possible application. As Entrepreneur Bill navigates through these phases, on what topics does he focus? DESCRIPTION OF PH ASE Suggestions for elements common to any venture (for profit, not for profit, social, fast growth, etc. VENTURE ELEMENT VENTURE ELEMENT 1 (Eg: Problem, customer, solution, environment and industry, etc.) VENTURE ELEMENT 2 (Eg: Problem, customer, solution, environment and industry, etc.) VENTURE ELEMENT 3 Etc Inventory against McGuire terms C OPYRIGHT BY M C G UIRE C ENTER F OR E NTREPRENEURSHIP , J ANUARY 2009 9 DEVELOPING ENTREPRENEURSHIP CURRICULUM THAT MOVES IDEAS TO REALITY Venture phase, element, and competency measures worksheet Research formation Innovation Entrepreneurial principles applied Business Phase titles DESCRIPTION OF PH ASE SUM M ARY OF PH ASE GOALS ACADEMIC DATES VEN TU RE ELEM EN T VENTURE ELEMENT 1 C OPYRIGHT BY M C G UIRE C ENTER F OR E NTREPRENEURSHIP , J ANUARY 2009 10 VENTURE ELEMENT 2 VENTURE ELEMENT 3 VENTURE ELEMENT 5 Etc C OPYRIGHT BY M C G UIRE C ENTER F OR E NTREPRENEURSHIP , J ANUARY 2009 11 Team activity: Formulating measures of competency in phased venture development Development of definitions of competency measures at phase/element intersection (90 mins) (5.25 hrs) If time allows, team selection and development of definitions of competency measures at phase/element intersections (note: time frame of team activity based on class progress). Examples of benchmark definitions? If possible, ad-hoc teams to create definitions within the intersections of benchmarks, as time allows. C OPYRIGHT BY M C G UIRE C ENTER F OR E NTREPRENEURSHIP , J ANUARY 2009 12 Team results: Compiling phase-based measures of competency (60 mins) (6.25hrs) Presentation and discussion C OPYRIGHT BY M C G UIRE C ENTER F OR E NTREPRENEURSHIP , J ANUARY 2009 13 Wrap up and Workshop 2 project overview (30 mins) Project: Using blank grid, draft Project: Using Blackboard discussion board, develop the venture path elements and competency measures for your institution/class. 1) phase 2) phase definitions (6.75 hrs) 3) venture elements 4) competency measures for a course in entrepreneurship C OPYRIGHT BY M C G UIRE C ENTER F OR E NTREPRENEURSHIP , J ANUARY 2009 NOTE: You may use as much or as little of workshop-developed information as is appropriate for course. Please be prepared to present elements in Workshop 2 14 This workforce solution was funded by a grant awarded under Workforce Innovation in Regional Economic Development (WIRED) as implemented by the U.S. Department of Labor’s Employment and Training Administration. The solution was created by the grantee and does not necessarily reflect the official position of the U.S. Department of Labor. The Department of Labor makes no guarantees, warranties, or assurances of any kind, express or implied, with respect to such information, including any information on linked sites and including, but not limited to, accuracy of the information or its completeness, timeliness, usefulness, adequacy, continued availability, or ownership. This solution is copyrighted by the institution that created it. Internal use by an organization and/or personal use by an individual for non-commercial purposes is permissible. All other uses require the prior authorization of the copyright owner. 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