Does Entrepreneurship Education Have a Role in Developing Entrepreneurial Skills and Ventures' Effectiveness?
Elmuti, Dean, Khoury, Grace, Omran, Omar, Journal of Entrepreneurship Education
The purpose of the paper is to examine the impact of entrepreneurs hip education and training on the development and enhancement of entrepreneurial skills that may be essential to improve ventures' effectiveness. One hundred and seventy entrepreneurs and prospective entrepreneurs were surveyed in the United States to determine their motivations for business ownership and assess their perceived factors that may have contributed to the success or failure of their ventures. The findings clearly indicate that there is causal linkages between entrepreneurial education (managerial skills), social competence (interpersonal skills), and to a greater degree, basic entrepreneurial training skills and ventures' effectiveness. They were statistically significant confirming prior expectation of the significant value of entrepreneurs hip education. The data demonstrates that the entrepreneurial education and training programs appear to create openness, confidence, and trust among the participants in this study. However, the type of entrepreneurs hip education must be coupled with content that is rich in learning principles, innovation, and reflection in order to enhance ventures' effectiveness.
Entrepreneurial firms including small and medium-sized enterprise (SMEs) make indispensible contribution to the market economics. They are an essential part of the renewal process that encompasses and defines the market economies. These firms play an important role in the innovations that lead to technological change and productivity growth. In the short term entrepreneurial firms are about change and competition because they change market dynamics. They also create an opportunity for millions of women, minorities, and immigrants to achieve success. (Kuratko and Hodgetts, 2004). In recognition of this , Higher Education Institutions (HEI) have been supported through government policy to provide training programs for SMEs aimed at developing a higher level of skills that will support small business growth (Gordon , Hamilton and Jack 2010).
Current entrepreneurial education consists of a chronologically based approach. That is, business entry has become one of the most broadly addresses entrepreneurial subjects in current curricula (Kuratko, et. al, 2004). This business entry concept has become a sort of umbrella for the analytical, social, leadership and innovative skills that entrepreneurs rely on to achieve success. Business entry also identifies various sources of venture capital that may be available to entrepreneurs in need of funding. Furthermore, the teaching of the ability and willingness to make decisions based on imperfect or incomplete knowledge has been taught as an important issue for entrepreneurial education.
There are many challenges facing entrepreneurs and they should be well prepared before implementing their idea. "Entrepreneurship is risky mainly because so few of the so-called entrepreneurs know what they are doing. They lack the methodology. They violate the elementary and well-known rules. "It needs to be systematic, managed based on purposeful innovation" (Drucker, 1985, P. 14). "Entrepreneurs possess skills, many of which are embedded within us. We can uncover these hidden traits, and develop them sufficiently to become a successful entrepreneur" (Kaplan and Warren, 2010 P. 8). As Peter Drucker says, "Entrepreneurship is nothing more than a discipline and, like every discipline, it can be learned." Drucker' s main point is that innovation is not an activity limited to a special class of people (Drucker, 1985, P.24).
The skills that are required by entrepreneurs fall into three distinct categories: technical skills, business management skills, and personal entrepreneurial skills. Technical skills include written and oral communication, technical management, and organizing skills. Business management skills are managerial skills like planning, decision making marketing and accounting. …