Developing Entrepreneurial Developing Entrepreneurial Leadership In and Out of theLeadership In and Out of the
ClassroomClassroom
Renae Chesnut, RPh, MBA, EdD
Commitment to Entrepreneurial LeadershipCollaborations
– MBA, MPA, Business minor– Shaping Your Pharmacy Future
CPHS Strategic Plan– Instilling an entrepreneurial spirit– DELTA Rx Institute (www.deltarx.com)
Entrepreneurial Mgmt Major; Minor
DefinitionAn entrepreneurial leader works to advance the
profession of pharmacy by mobilizing others to proactively identify and pursue new opportunities to create value for patients and society.
MissionTo advance the profession by empowering
practitioners, faculty, and students to boldly pursue opportunities for breakthrough achievements. The Institute instills a philosophy of life that embraces innovation and perseveres to affect change.
DELTARx.com– Articles – Profiles– Columns – Services– Programs/Courses–Discussion Board
Drake University and the DELTA Rx InstituteCurricular
– Skills– Course activities– Minor– Rotation experiences
Co-curricular– Competitions– Speakers– Entrepreneurship Day– Internships
Morris MH, Kuratko DF, Schindehutte M, “Towards integration: understanding entrepreneurship through frameworks,” Entrepreneurship and Innovation, February 2001, pp 35-49.
Drake CPHS Proposed SkillsA. Identify an opportunity1
1. Identify needs and solutions to problems 2. Calculated risk-taking
D. Acquire the necessary resources1. Communication of ideas effectively to create buy-in2. Prioritization
E. Implement and manage
1. Teamwork 2. Perseverance
B. Develop the concept1. Innovative and creative problem-solving2. Research and decision-making
C. Determine the required resources
1. Life-long learning2. Economic Analysis
F. Harvest the venture1. Reflection2. Evaluation3. Professional stewardship
Course Activities Examples
Identify an opportunity Identify needs/Risk-taking– Empathy building exercises: What
products/services can be developed?– “What bugs you?”
Develop the ConceptInnovation/Creativity/Problem-Solving– Make a proposal to create buy-in
Curricular Mapping of Course Activities
Determine and Acquire Necessary Resources Lifelong Learning, Communication, Economic
Evaluation, Prioritization– Timed presentations - Elevator Pitches– Experiential activities
Implement/Manage/Harvest Teamwork/Perseverence/Reflection &
Evaluation/Professional Stewardship– Jigsaw Method/Team Based Learning– Ethical Discussions
Entrepreneurial Leadership Minor Tenets
– Flexibility– Consider all aspects of entrepreneurship, including social
entrepreneurship Outcomes
– Understand the role of entrepreneurs as leaders in society– Develop a realistic understanding of what to expect as an
entrepreneur– Accurately assess one’s personal level of entrepreneurial
potential – Develop leadership, team-building, and other management
skills required in the entrepreneurial environment – Recognize the ethical and moral issues involved in leading
entrepreneurial endeavors
Curriculum Rationale
Coursework– Intro to Accounting– Microeconomics– Entrepreneurial
Leadership– New Venture
Feasibility Analysis– Marketing Principles– New Venture
Capstone– Electives - 6 credits
Pharmacy Courses– Management in Pharmacy– Experiential Rotation
Additional Elective Options– Profit Planning and Control– Management Process and
Behavior– Management of Operations– Business/Administrative
Communication
Co-Curriculum
Entrepreneurial Leadership Programs– Entrepreneurs Presentations– Creativity & Innovation Speakers– Student Leadership Development Series
Entrepreneurial Competitions– Drake’s Next Top Entrepreneur Competition– NCPA Business Plan Competition (placed 2nd
nationally in 2010; 6th in 2011)– Drake and Statewide Competitions
Internships
Drake’s Next Top Entrepreneur Competition Rounds
– 1st round: 3 minutes to present a healthcare related idea
– 2nd round: Given a healthcare problem, have 60 minutes for brainstorming and 3 minutes to present a solution
– 3rd round: Present a mini-business plan Prizes after each round with grand prizes to top 3
following 3rd Round Judges - each round, consist of a panel of 3
judges representing pharmacy, healthcare, and business
Community Pharmacy Entrepreneurial Leadership Summer InternshipsPharmacy Practices
– Compounding– Chain Practice and Administration– Independent Pharmacy
Shaping Your Pharmacy Future Program Modules– Application to the practice setting– Mentoring from practitioner (access to modules)
Entrepreneurial Education Steps
1) Faculty team and development2) Determine goals3) Identify and develop courses and/or
experiences4) Implement5) Measure the outcomes
1. Development of the Team/Faculty
Cross-Disciplinary and Collaborative– Departmental– Entrepreneurship Centers/Programs
Development– USASBE– Experiential Classroom (Ok State Univ.)– DELTA Rx Institute web site– Faculty development sessions
2. GoalsInstill a spirit of change and innovation in pharmacy
Develop entrepreneurial leadership in our students
– Curricular – Co-Curricular
National recognition– DELTA Rx web site
3. Identify and Develop Courses/Experiences Imbedded throughout the curriculum in a variety of
courses through projects, early/advanced practice experiences– Opportunity identification– The Elevator Pitch– E-Field Project– Entrepreneurial Ethics– The E-Rotation
New Courses– Business plan, Finance, Marketing
Concentration, Minor, 2nd Major
4. Implement
Student Awareness– Expand definition– Explain the application
Utilize Entrepreneurial alums/practitioners
Teaching Methods: Cases, SimulationsContinued Development and Assessment
5. Measure the Outcomes
Great opportunity for research and scholarship! PSEO (Pharmacy Student Entrepreneurship
Orientation) Program Outcomes Professional organizations/fraternities activities
(new ventures, business plan/skills competitions) Senior/alumni surveys Employer surveys