Entrepreneurship Education: Learning By Doing (PDF: 1.1 MB)

1 Entrepreneurship education : Learning by Doing During the past two decades we've completely re-invented' the American economy. While this dramatic change has allowed us to remain the world's economic leader, young people are simply not being prepared to participate in this rapidly changing economic landscape. Youth entrepreneur- ship programs are an essential part of preparing boys and girls, young men and women, to take charge of their own economic destiny. George Gendron While the key concepts of Entrepreneurship can be taught at any time in a person's life, the atti- tudes and values associated with becoming a successful entrepreneur are more likely to develop if they are explored and nurtured at a young age. Teaching children about Entrepreneurship offers a career path, but more importantly, students learn of the economic and social benefits that entre- preneurs provide to their families, to their communities and to their country. Rob Chernow The six programs highlighted in this publication provide great examples of what can happen when young entrepreneurs learn the value of teamwork, vision and responsibility.

2 Nurturing tomorrow's leaders is an essential tool to help grow good local jobs and diversify local economies, making them more resilient in the face of change. Anne B. Pope GEORGE GENDRON ROB CHERNOW ANNE B. POPE. Founder Senior Vice President Federal Co-Chair Inc. Magazine of Entrepreneurship Appalachian Regional Commission The Ewing Marion Kauffman Foundation Entrepreneurship education : Learning by Doing Table of Contents Introduction ..2. I. Examples of Success Recognizing Opportunities: Randolph County Vocational-Technical Center, Elkins, West Virginia ..6. Creativity Rules: Walhalla High School, Walhalla, South Carolina ..12. Parents as Partners: CEO Academy, Nashville, Tennessee ..16. Know-How on Call: Excel Tech, Tupelo Middle School, Tupelo, Mississippi ..22. A Ticket to Growth: Estill County High School, Irvine, Kentucky ..28. Re-Inventing a School: School of Entrepreneurship , South Shore Community Academy High School, Chicago, Illinois.

3 34. II. Leading National Resources and Programs ..40. EconomicsAmerica, National Council on Economic education The Institute for Entrepreneurship Junior Achievement Making Cents National Foundation for Teaching Entrepreneurship (NFTE). REAL Enterprises, Inc. Youth Venture III. Keys to Successful Programs ..47. Dr. Cathy Ashmore, Executive Director, Consortium for Entrepreneurship education Published by the Appalachian Regional Commission with support from the Ewing Marion Kauffman Foundation. | Introduction Students say that building and running businesses is more interesting than most of their other schoolwork. In a word, it is fun. Students like to learn by Doing . The comparison that comes to mind is athletics. Entrepreneurship The profiles that follow describe |3. programs are among the few academic activities that engage students n a West Virginia vocational program that teaches students to recognize in teamwork and allow students to clearly understand that success opportunities around them, even in an economically distressed county.

4 Requires a focus on outcomes, not on putting in class time. Time and n a South Carolina high school program in which each new class begins again, teachers of these courses comment that all kinds of students, with improvisations and ends with students keeping a share of a food chronic low achievers as well as strong students, excel in these programs. service's profits;. The key seems to be peer pressure to meet or exceed what are seen as n a faith-based effort in Nashville, Tennessee, where children as young realistic standards, just as with a football or basketball team. as second-graders cultivate character, initiative and social skills Entrepreneurship education courses win praise from teachers (while also making impressive amounts of money);. and school administrators for helping students excel at academic n a high-tech service project in a northern Mississippi middle school subjects like English and mathematics. Studies have shown significant that stresses dependability and a strong customer orientation.

5 Improvement on standardized tests among students involved in n a Kentucky high school program in an economically distressed rural Entrepreneurship programs. county that has grown by stimulating demand for its products across We invite you to read about six successful youth Entrepreneurship the community; and programs and learn more about the national resources available n a high school in a low-income area of Chicago that is using entrepre- to help your community cultivate entrepreneurs. neurship across its curriculum as part of a strategy to transform urban education . | Introduction Entrepreneurship education courses win praise from teachers and school administrators for helping students improve in academic subjects like English and mathematics. 4|. Your first impression of these six programs how they developed their skills. |5. is likely to focus on their diversity. These The Appalachian Regional Commission successful projects are in rural areas and and the Ewing Marion Kauffman Foundation inner cities.

6 They are based on many believe that education and experience play different kinds of business activity and an important role in inspiring and nurturing target young people at many educational future entrepreneurs. Children and young levels high school, middle school, and people see adults in many occupational elementary school. and professional roles salespeople and Visit these projects and you're also likely mechanics, doctors and nurses. But children to see how much they have in common. All rarely get a glimpse of the creativity and hard emphasize opportunity recognition, marshal- work that create entrepreneurial companies. ing resources effectively, creativity and critical Entrepreneurship education within our thinking. All teach the value of hard work schools can help enlarge their vision and and help students understand how businesses stimulate their imagination. operate. They stress community and the Every year, hundreds of thousands of importance of taking responsibility.

7 New businesses are started in America. And Americans live in a nation where entrepre- every year dozens of firms are added to the neurs have created a high standard of living. Fortune 500 list. Learn more about the But while in some communities entrepreneur- successful programs that nurture entrepreneur- ial ventures abound, other communities lack ship in our youth. Look into the resources. the skills, vision and energy of entrepreneurs. Make sure that new entrepreneurial businesses Often we take entrepreneurs for granted, start in the classrooms, garages and basements without understanding who they are and of your town. | I. Examples of Success 1] WEST VIRGINIA 2] SOUTH CAROLINA 3] TENNESSEE 4] MISSISSIPPI 5] KENTUCKY 6] ILLINOIS. |7. Recognizing Opportunities: Randolph County Vocational-Technical Center I wish there were one student begins. It would be better if another says. This is what bugs me . someone else calls out. Despite how that may sound, Debra Conrad's Entrepreneurship class, Owning Your Own Business, is no place for wishful thinking or complaining.

8 Just the opposite. These students at Randolph County Vocational- distressed county where opportunities for with 8,500 living in Elkins, the county seat. Technical Center in Elkins, West Virginia, are homegrown profit are few and far between. For Timber is the main industry; Elkins likes to Learning how to recognize opportunities. example, a cluster of one-shot, largely seasonal call itself The Hardwood Capital of the East They're reviewing questions designed to tease projects netted a previous class several hundred Coast. The largest private-sector employer out ideas for products or services from potential dollars. A few years earlier, a project grossed is a branch of Armstrong Wood Products that customers. The journey toward making a over $10,000, about half of which was clear manufactures flooring and employs about 350. million dollars, Conrad tells her students, profit. This class is hoping to capitalize on, and people. After that, even in the wood industry, begins with two steps: First, identify a need; with luck surpass, such previous successes.

9 Jobs are scarce. Most other jobs are in the next, think of a solution. Finding a profitable product line in public sector: schools, a hospital, and None of her classes have made a million Randolph County isn't easy. The county is Monongahela National Forest. dollars yet, but they've done pretty well for high geographically the largest in West Virginia, but Brenda Pitt, executive director of the school students who live in an economically its population is sparse about 28,000 total, Elkins-Randolph Chamber of Commerce, | Examples of Success The journey toward making a million dollars, Conrad tells her students, begins with two steps. First, identify a need; next, think of a solution.. 8| expresses the kind of concerns that can be prosperous days. They managed to run down heard across much of rural Appalachia. a number of old recipes, including some from Young people are leaving, Pitt says. There the descendants of the caterer-entrepreneur.

10 Are no jobs to keep them here. They published the results as A Dish of History. In the process they also learned about Marketing Memories concepts like fixed costs and incremental costs What is likely to sell best in Randolph ( , why printing 500 books costs little more County? One answer: memories and nostalgia. than printing 300) and practical skills like how The class's biggest winner to date was based to get bids before entering into a contract. on that theme and came directly from asking In the end, they produced a local bestseller. the I wish question. A few years ago, A planned print run of 500 books sold out Conrad told her class about a family catering before two weeks and was hastily upped to 800. business that flourished in Elkins long before Later they ordered 300 more. Orders came they were born: a catering business, whose from as far away as England. operator was exceptional both as a female A Dish of History was completed in the old-fashioned home remedies for illness and entrepreneur and as one of the few African- 1998-1999 school year.