WHY ENTREPRENEURIAL EDUCATION Entrepreneurhsip and Innovation Center of the University of Zenica WHY ENTREPRENEURIAL EDUCATION Tempus Project:Competency Based Curriculum Reform in Nursing and Caring in Western Balkan Universities Full Professor Dr Darko Petković E-mail: darkopetkovic1960@gmail.com Seminar, Skhodra, Albania, 6-10.09.2015.

New situation? 10-14 Jobs by Age 38 Macro Trends toward Contract Workers Entrepreneurship is Not Just Starting a New Venture Creating Own Job

TRENDS IMPACTING 21st CENTURY WORKFORCE Multiple jobs, multiple employers Small business, new ventures and self-employment will drive job creation Technology-driven workforce Rapid advances in science and technology Globalization

Why become an entrepreneur? TO BE YOUR OWN BOSS! TO DEVELOP OWN IDEAS! TO HAVE FINANCIAL GAIN!

Entrepreneurial Alertness Why do entrepreneurs see opportunities others miss? “Entrepreneurial Alertness” Confluence of experience, knowledge and actively seeking opportunities Continually absorbs large amounts of information from press, colleagues, customers, etc. Actively seeks problems in need of a solution

The most common myths about entrepreneurs Myth No. 1 Entrepreneurs are born to be – it is impossible to become an entrepreneur! Myth No. 2 Entrepreneurs are gamblers! Myth No. 3 Entrepreneurs are primarly money-motivated! Myth No. 4 Entrepreneurs should be young and energetic! Myth No. 5 Entrepreneurs like to be in the spotlight!

Common characteristics and features of entrepreneurs THEY ARE/HAVE Promotors Driven (motivated by achievements) Gathering and enhancing resources Self-confident Searching for opportunities Self-motivated Creative Persistent Determined Tolerate uncertainity Energetic Visionaries Strong work ethics Moderate regarding risk taking Dedicated to networking Wide scope of attention An optimistic attitude Convincing

Defining Entrepreneurship “The process of creating value by bringing together a unique combination of resources to exploit an opportunity” Process Creating value where none existed Combining resources in a different way An opportunity-driven behavior “The ability to create & build a vision from practically nothing Improvisation

Entrepreneurship Process The process through which an individual or team creates or recognizes opportunities to pursue something of value, regardless of the resources available. An approach to life built around innovative thinking, calculated daring and proactive behavior. A habit of mind and attitude, a skill set applicable to pursuing innovation in business, personal and career contexts.

Importance of Entrepreneurship Joseph Schumpeter (Austrian economist) – Book „Theory of economic development” ...:Entrepreneurs develop new products and technologies, which will, in the course of time, replace the currently used products and technologies. For Schumpeter, this process is creative destruction. Since every new product and technology are more perfect than the previous one and available to wider scope of society, it increases demand, and the creative destruction leads to increase of economic activity...

Case study from Drexel University - USA ENTREPRENEURSHIP LIVING-LEARNING COMMUNITY Thanks for slides 11-18 to prof.dr Roy Carricer, dean of Faculty of Entrepreneurship. – Drexel University.

New Degree Offerings for Fall 2014 BA in Entrepreneurship and Innovation MS in Entrepreneurship and Innovation Minors: Entrepreneurship Social Entrepreneurship Energy Innovations Health Innovations NEW DEGREE OFFERINGS

Current Electives Launch It! Work on the actual launching of a startup $2000 in seed funding Social Entrepreneurship Life Strategies Dynamics of the Family Firm CLASSES THAT MAKE A DIFFERENCE

Social Entrepreneurship A social entrepreneur identifies and solves social problems on a large scale. Just as business entrepreneurs create and transform whole industries, social entrepreneurs act as the change agents for society, seizing opportunities others miss in order to improve systems, invent and disseminate new approaches and advance sustainable solutions that create social value. In our Social Entrepreneurship course, we take a broad view of social ventures through case analysis, early venture development and profiles of the entrepreneurs who are passionate about the triple bottom line: People, Planet and Profit. Famous social entrepreneurs include Alan Khazei, founder of City Year and Bill Clinton, founder of the Clinton Global Initiatives. Local entrepreneurs include Collin Cavute, founder and CEO of Biome and Drexel student. We explore: The critical elements needed to create a sustainable social venture. How to create large-scale change in environments that have strong cultural and institutional influences. How to develop frameworks and tools that can be used by an aspiring social entrepreneur looking to launch a venture. How to develop frameworks and tools that can be used by or a potential investor wanting to assess the likelihood that the sustainable social venture will be successful.

BA in Entrepreneurship & Innovation General Requirements Individual as Entrepreneur "Entrepreneurial Leadership" "Ready Set Fail" "Life Strategies" "Innovation Neighborhood" Process of Entrepreneurship "Enter and Exit Funding" "Accounting for New Ventures" “Dynamics of the Family Firm" "Franchising" Social Entrepreneurship Track Energy and Sustainability Innovations Track Health Innovations Track Elective Courses Examples: “Global Entrepreneurship" "Corporate Innovation" Academic Minors Example: communications, finance, sociology, etc.

Minors in Entrepreneurship & Innovation Energy Innovations Health Innovations Social Entrepreneurship

MS in Entrepreneurship & Innovation Individual as Entrepreneur “Entrepreneurship Essentials” “Personal Dynamics: Starting a New Venture” Electives “Entrepreneurship in Emerging Markets” “Clean Venture Lab” Process of Entrepreneurship “Learning from Failure” “Methods of Entrepreneurship”

Case study – University of Zenica? Innovation and Entrepreneurship Centre Business Service Office Incubator and Technology Parks – with city of Zenica and Canton Elective modules of entrepreneurship at different faculties (mechanical engineering, polytechnic, metallurgy, health,....)

Full Professor Dr Darko Petković E-mail: darkopetkovic1960@gmail.com Entrepreneurship and Innovation Center of the University of Zenica – EIC UNZE DISCUSSION ! QUESTIONS? COMMENTS...