Entrepreneurship represents a paradigm shift in business activity as we enter the new millennium. This shift is having a profound impact on the corporate world as corporations downsize, reorganize, and reengineer to become more entrepreneurial. Our best-managed corporations are using the entrepreneurial model to enter new markets, invigorate their organizations, commercialize emerging technologies, and continue to grow. These corporations have recognized that the choice is to grow and adapt to the changing environment, or to stagnate and wither. One cannot recognize the choice without clearly acknowledging the only viable option.
Business schools face a similar choice.
Business education based on functional approaches and taught by specialists increasingly insulated from market forces and real business problems did not serve us well in the eighties. Clearly this is all the more inappropriate for the new era. Our best MBA programs infuse entrepreneurship throughout their core curricula and recognize that entrepreneurship should become a major focus of business education. Riding the crest of this wave into the future, MBA students recognize the value added to their education by this new focus. Students have been electing entrepreneurship courses in overwhelming numbers.