Can entrepreneurship really be taught in school?
December 18, 2006 | 12:00am
The important thing is not being afraid to take a chance. Remember, the greatest failure is to not try. Once you find something you love to do, be the best at doing it. –Debbi Fields, founder of Mrs. Fields Cookies
Can entrepreneurship really be taught in schools, inside classrooms with theories and textbooks? Or is it true that the best training for aspiring entrepreneurs is the proverbial "School of Hard Knocks," with the lessons provided by actual hands-on experience, rigorous practice, and struggle?
Though not all people are cut out to be entrepreneurs and there are many who might excel more as managers or professionals, I strongly believe the Philippine economy needs to encourage more entrepreneurs if we wish to strengthen the free-enterprise system and eventually wipe out mass poverty. In particular, we need more dynamic, nimble and resilient small- and medium-scale entrepreneurs. Our high-profile, noisy and mostly selfish politicians are not as important as entrepreneurs in championing economic progress.
What are the best schools for entrepreneurs? Based on our informal text survey of many top corporate executives, the schools most cited are the Ateneo, La Salle, UP and the Asian Institute of Management. However, it’s surprising that, in the modern history of Philippine big business so far, one of the best schools for producing entrepreneurs seems to be Far Eastern University (FEU). The country’s two wealthiest billionaires are FEU alumni: Henry Sy of SM Group/Banco de Oro, and Lucio Tan of Fortune Tobacco/Asia Brewery/Philippine Airlines.
Other outstanding FEU alumni in business include RCBC Group boss Ambassador Alfonso Yuchengco (who is an astute businessman despite his recent troubles with Pacific Plans, Inc.), San Miguel Corp. president Ramon Ang, bankers Ramon Sy and Wilfrido Tecson (who speaks fluent Mandarin and Hokkien as well as his native Cantonese), and GMA Network, Inc. major shareholder Menardo "Nards" Jimenez.
Two names that should be added to all those in FEU’s honor roll of business achievers are DDB Philippines advertising group chairman Gil Chua and his schoolmate, topnotch entrepreneurial coach Lorenzo "Lorenz" Yatco, both of whom recently introduced "The Entrepreneur" board game. They envision this board game to encourage high school and college students, aspiring entrepreneurs and others to learn the dynamics, skills, values and mindset of entrepreneurship through this fun and educational game now available at all branches of Powerbooks and Fully Booked.
Gil Chua said the board-game project is part of DDB Philippines’ corporate social responsibility, because if there are more entrepreneurs, there will be increased advertising in the mass media, then all of society can ultimately benefit with a better quality of life and higher national wealth. He believes in encouraging the youth to appreciate business, because his late immigrant father, James Chua, trained him early as a kid to work in their grocery in Virac, Catanduanes. His dad used to work in Manila as a sports writer for the pre-war Chinese-language newspaper Fookien Times under publisher-editor Dr. James Go Puan Seng and also as a ghost writer for the pre-war Chinese community leader Don Justo Cabo Chan.
FEU president Dr. Lydia B. Echauz told The Philippine STAR: "Yes, entrepreneurship can be taught in schools. FEU would like to lead the way in creating a nation of entrepreneurs. Our university’s Institute of Accounts, Business and Finance (IABF) has in the last three years produced three world champions, 13 world finalists, 30 national champions and 43 national finalists in the field of entrepreneurship and business planning. These include recognitions earned in the Entrepreneurial Idol Competition at Harvard University, the JCI Best Business Plans of the World Competition in Vienna, Austria, and the Silicon Valley Bommer Venture Summit in California."
Another educator who believes entrepreneurship can be learned in school is Rodolfo "Rudy" Ang, dean of Ateneo’s Gokongwei School of Management. "Business and entrepreneurship can be compared to swimming or riding a bike," he says. "You can read about it and talk about it all you want, but you won’t know how to do it until you’ve actually tried it. You can’t learn how to bike by reading a book or having someone explain it to you – you’ve got to get on the bike and actually start pedaling. At the John Gokongwei School of Management, our effort is to allow our students to learn both inside and outside the classroom. Our project-oriented and experiential learning approach creates opportunities for students to actually apply the principles, tools and methods they learn inside the classroom to real-life settings. By the way, the Ateneo’s John Gokongwei School of Management has also pioneered creating science-based entrepreneurship programs."
One of the reasons the Asian Institute of Management (AIM) is one of Asia’s finest business schools is its talented professors such as Dr. Eduardo A. Morato Jr. I wish to share part of Dr. Morato’s speech to the 2001 graduates of AIM’s Master in Entrepreneurship program, which he ended with his own version of "The Entrepreneur’s Prayer:"
"Lord, you have showered upon me your most kind blessings. I am humbled by the many talents you have given me and accept my responsibility as an entrepreneur to multiply them not for myself and family alone, but for those who share the work in the vineyard you have entrusted me. I likewise accept my role as a steward of your creation and promise to use the Earth’s resources in a sustainable and frugal way. I totally commit myself to the service of humanity, more particularly to my suppliers, my workers, my customers and all those I deal and transact with. To this end, I pledge to fully develop my potential and those of my people so that, together, we may forge a model enterprise that will provide for all our daily needs.
"Teach me, O Lord, to listen well so that I may not make rash judgments. Teach me to communicate clearly lest misunderstandings block my path. Teach me to see the truth because lies and deceit will surely corrupt my ways. Teach me to have compassion lest I put wealth before the welfare of people. Teach me to be wise so that I may lead and mentor well all those whom you have placed under my care.
"Give me, O Lord, the capacity to balance my family life with my business. Give me the generosity to provide decent work to all my employees so that they may relish fine health, send their children to the best schools, live in comfortable homes and enjoy the amenities of a good life. Give me the courage to shun the temptations of unethical business practices. Give me great fortitude to combat greed. Give me the grace to be a good role model and a strong pillar of the community. All these I ardently pray for. In return, O Lord, I will multiply all these blessings a thousandfold and share them with the greatest number knowing very well that much is expected of those who have been given much."
Thanks for all your letters; all will be answered. Comments, suggestions, jokes and criticisms are welcome at willsoonflourish@gmail.com or wilson_lee_flores@yahoo.com.
Can entrepreneurship really be taught in schools, inside classrooms with theories and textbooks? Or is it true that the best training for aspiring entrepreneurs is the proverbial "School of Hard Knocks," with the lessons provided by actual hands-on experience, rigorous practice, and struggle?
Though not all people are cut out to be entrepreneurs and there are many who might excel more as managers or professionals, I strongly believe the Philippine economy needs to encourage more entrepreneurs if we wish to strengthen the free-enterprise system and eventually wipe out mass poverty. In particular, we need more dynamic, nimble and resilient small- and medium-scale entrepreneurs. Our high-profile, noisy and mostly selfish politicians are not as important as entrepreneurs in championing economic progress.
Other outstanding FEU alumni in business include RCBC Group boss Ambassador Alfonso Yuchengco (who is an astute businessman despite his recent troubles with Pacific Plans, Inc.), San Miguel Corp. president Ramon Ang, bankers Ramon Sy and Wilfrido Tecson (who speaks fluent Mandarin and Hokkien as well as his native Cantonese), and GMA Network, Inc. major shareholder Menardo "Nards" Jimenez.
Two names that should be added to all those in FEU’s honor roll of business achievers are DDB Philippines advertising group chairman Gil Chua and his schoolmate, topnotch entrepreneurial coach Lorenzo "Lorenz" Yatco, both of whom recently introduced "The Entrepreneur" board game. They envision this board game to encourage high school and college students, aspiring entrepreneurs and others to learn the dynamics, skills, values and mindset of entrepreneurship through this fun and educational game now available at all branches of Powerbooks and Fully Booked.
Gil Chua said the board-game project is part of DDB Philippines’ corporate social responsibility, because if there are more entrepreneurs, there will be increased advertising in the mass media, then all of society can ultimately benefit with a better quality of life and higher national wealth. He believes in encouraging the youth to appreciate business, because his late immigrant father, James Chua, trained him early as a kid to work in their grocery in Virac, Catanduanes. His dad used to work in Manila as a sports writer for the pre-war Chinese-language newspaper Fookien Times under publisher-editor Dr. James Go Puan Seng and also as a ghost writer for the pre-war Chinese community leader Don Justo Cabo Chan.
FEU president Dr. Lydia B. Echauz told The Philippine STAR: "Yes, entrepreneurship can be taught in schools. FEU would like to lead the way in creating a nation of entrepreneurs. Our university’s Institute of Accounts, Business and Finance (IABF) has in the last three years produced three world champions, 13 world finalists, 30 national champions and 43 national finalists in the field of entrepreneurship and business planning. These include recognitions earned in the Entrepreneurial Idol Competition at Harvard University, the JCI Best Business Plans of the World Competition in Vienna, Austria, and the Silicon Valley Bommer Venture Summit in California."
One of the reasons the Asian Institute of Management (AIM) is one of Asia’s finest business schools is its talented professors such as Dr. Eduardo A. Morato Jr. I wish to share part of Dr. Morato’s speech to the 2001 graduates of AIM’s Master in Entrepreneurship program, which he ended with his own version of "The Entrepreneur’s Prayer:"
"Lord, you have showered upon me your most kind blessings. I am humbled by the many talents you have given me and accept my responsibility as an entrepreneur to multiply them not for myself and family alone, but for those who share the work in the vineyard you have entrusted me. I likewise accept my role as a steward of your creation and promise to use the Earth’s resources in a sustainable and frugal way. I totally commit myself to the service of humanity, more particularly to my suppliers, my workers, my customers and all those I deal and transact with. To this end, I pledge to fully develop my potential and those of my people so that, together, we may forge a model enterprise that will provide for all our daily needs.
"Teach me, O Lord, to listen well so that I may not make rash judgments. Teach me to communicate clearly lest misunderstandings block my path. Teach me to see the truth because lies and deceit will surely corrupt my ways. Teach me to have compassion lest I put wealth before the welfare of people. Teach me to be wise so that I may lead and mentor well all those whom you have placed under my care.
"Give me, O Lord, the capacity to balance my family life with my business. Give me the generosity to provide decent work to all my employees so that they may relish fine health, send their children to the best schools, live in comfortable homes and enjoy the amenities of a good life. Give me the courage to shun the temptations of unethical business practices. Give me great fortitude to combat greed. Give me the grace to be a good role model and a strong pillar of the community. All these I ardently pray for. In return, O Lord, I will multiply all these blessings a thousandfold and share them with the greatest number knowing very well that much is expected of those who have been given much."
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