Entrepreneurial Education for 21st Century Workforce

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

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

3. 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

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

5. 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

6. 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!

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

8. 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

9. 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.

10. 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...

11. 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.

12. 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

13. 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

14. Social Entrepreneurship

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

16. Health Innovations Entrepreneurship Energy Innovations Minors in Entrepreneurship & Innovation Social Entrepreneurship

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

19. 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,....)

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