Entrepreneurship education derives its importance from three factors: a demand among students for information about entrepreneurship; a need to provide students with skills related to making jobs, rather than training to take existing jobs; and a related need for economic growth through job creation. According to a 1994 national Gallup poll, 7 out of 10 high school students wanted to start their own business, but most showed remarkably little understanding of entrepreneurship.
To provide students with entrepreneurial skills, educational efforts must focus on the following three attributes of entrepreneurship:
- The identification of market opportunity and the generation of a business idea to address the opportunity
- The commitment of resources to pursue the opportunity in the face of risk
- The creation of an operating business organization to implement the idea
This training program will explore useful model for implementing and supporting an entrepreneurship program, identifies three elements: an "initiator" able to identify market opportunities and lead others, a development team recruited by the initiator to assist with human resources, finance, marketing, selling, development, manufacturing, and quality management, and a constituent group of community members with a stake in the growth of the venture.
Unfortunately, current curricula fail to even address the initiator element of entrepreneurship. To facilitate the needs of today's youth, educators must provide true entrepreneurship education by focusing the curriculum on the role of the initiator.