A Preliminary Exploration of the Development of Wisdom in Entrepreneurship Education
Keywords:Wisdom, entrepreneurship education, management education, syllabi, course outlines, textbooks
Though the development of wisdom is a primary goal of higher education, it has received little empirical attention in an entrepreneurship education (EE) context. We conduct a preliminary, exploratory investigation into the teaching of wisdom in EE. Applying Sternberg’s (1998) balance theory of wisdom, we examine whether entrepreneurship courses deliver on the potential of wisdom development by studying the syllabi of 50 university entrepreneurship courses from around the world. We also examine the contents of the major entrepreneurship textbooks used in EE classrooms today. We find that both textbook use and course design are negatively related to the development of wisdom in the classroom. Theoretical and practical implications are discussed.
Ames, R.T. (2010). The Analects of Confucius: A philosophical translation. Ballantine books.
Aristotle (1955). The ethics of Aristotle: The Nicomachean ethics (Trans. J. A. K. Thompson). Harmondsworth: Penguin Books.
Bacharach, S.B. (1989). Organizational theories: Some criteria for evaluation. Academy of Management Review, 14, 496-515.
Baden, D, & Higgs, M. (2015). Challenging the perceived wisdom of management theories and practice. Academy of Management Learning and Education, 14, 539-555.
Baltes, P., & Staudinger, U. (2000). Wisdom - A metaheuristic (pragmatic) to orchestrate mind and virtue toward excellence. American Psychologist, 55, 122-135.
Barley, S., & Kunda, G. (2004). Gurus, hired guns, and warm bodies. Itinerant experts in a knowledge economy. Princeton, N.J.: Princeton University Press.
Baron, R., & Shane, S. (2005). Entrepreneurship: A process perspective. Mason, OH: Thomson South-Western.
Barringer, B., & Ireland, D. (2011). Entrepreneurship: Successfully launching new ventures, 4th Edition. Upper Saddle River, NJ: Prentice Hall.
Beail, N. (1985). Repertory grid technique and personal constructs: Applications in clinical and educational settings. Croom Helm, Beckenham.
Bhidé, A. (2000). The origin and evolution of new businesses. New York: Oxford University Press.
Boli, J., Ramirez, G., & Meyer, J. (1985). Explaining the origins and expansion of mass education. Comparative Education Review, 29, 145-170.
Bourdieu, P. (2005). The social structures of the economy. Malden, MA: Polity Press.
Bourdieu, P. (1992). Language and symbolic power. Cambridge, MA: Harvard University Press.
Bygrave, W. (1997). The portable MBA in entrepreneurship (2nd Ed.). New York: John Wiley & Sons.
Bygrave, W., & Zacharakis, A. (2008). Entrepreneurship. New York: John Wiley & Sons.
Byrne, J., Fayolle, A., & Toutain, O. (2014). 15. Entrepreneurship education: what we know and what we need to know. In E. Chell, and M. Karata-Ezkan (Eds.) Handbook of Research on Small Business and Entrepreneurship, 261-288. Cheltenham, UK: Edward Elgar.
Cameron, K.S., Ireland, R.D., Lussier, R.N., New, J.R., & Robbins, S.P. (2003). Management textbooks as propaganda. Journal of Management Education, 27, 711-729.
Cohen, J. (1992). A power primer. Psychological Bulletin, 112 (1), 155-159.
Copenhagen Business School (2016). The Studio at Copenhagen Business School. Retreived January 9, 2016 from http://www.cbs.dk/en/research/cbs-research-projects/major-research-projects/studio-cbs
Delmar F., & Shane S. (2003). Does business planning facilitate the development of new ventures? Strategic Management Journal, 24, 1165-1185.
Delmar F., & Shane S. (2004). Legitimating first: Organizing activities and the survival of new ventures. Journal of Business Venturing, 19, 385-410.
Delmar F., & Shane S. (2004). Legitimating first: Organizing activities and the survival of new ventures. Journal of Business Venturing, 19, 385-410.
DeTienne, D.R., & Chandler, G.N. (2004). Opportunity identification and its role in the entrepreneurial classroom: A pedagogical approach and empirical test. Academy of Management Learning & Education, 3, 242-257.
DiMaggio, P. J. and Powell, W. W. (1983). The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields. American Sociological Review, 48, 147-160.
Dollinger, M.J. (1995). Entrepreneurship: Strategies and resources. Homewood, IL: Austen Press.
ESCE Business School (2016). Improbable. Retreived January 9, 2016 from http://www.cbs.dk/en/research/cbs-research-projects/major-research-projects/studio-cbs http://improbable.strikingly.com/#documentary http://www.nyu.edu/about/university-initiatives/entrepreneurship-at- nyu/inspire/entrepreneurs-festival.html http://entrepreneurshipfestival.eu/
Edelman, L., Manolova, & Brush, C. (2008). Entrepreneurship education: Correspondence between the practices of nascent entrepreneurs and textbook prescriptions for success. Academy of Management Learning & Education, 7, 56-70.
Fayolle, A., Gailly, B., & Lassas-Clerc, N. (2006). Assessing the impact of entrepreneurship education programmes: A new methodology. Journal of European Industrial Training, 30, 701-720.
Fayolle, A., Lassas-Clerc, N., & Tounés, A. (2009). The effects of real versus virtual business planning as learning process. Paper presented at the Babson College Entrepreneurship Research Conference, Massachusetts.
Fayolle, A. (2013). Personal views on the future of entrepreneurship education. Entrepreneurship and Regional Development, 25, 692-701.
Fiet, J.O. (2000a). The theoretical side of teaching entrepreneurship. Journal of Business Venturing, 16, 1-24.
Fiet, J.O. (2000b). The pedagogical side of entrepreneurship theory. Journal of Business Venturing, 16, 101-117.
Fornaciari, C. J., & Lund Dean, K. (2014). The 21st-Century Syllabus: From Pedagogy to Andragogy. Journal of Management Education, 38, 701-723.
Galloway, L., & Brown, W. (2002). Entrepreneurship education at university: A driver in the creation of high growth firms? Education + Training, 44, 398–404.
Gijselaers, W. A. (1996). Connecting problem-based practices with educational theory. New Directions for Teaching and Learning, 68, 13-21.
Gorman, G., Hanlon, D., & King, W. (1997). “Some research perspectives on entrepreneurship education, enterprise education and education for small business management: A ten year literature review.” International Small Business Journal, 15(3), 56-77.
Govindji, R. (2014). The role of wisdom in organizational leadership (unpublished doctoral thesis). Aston University, Birmingham, UK.
Grant, J. D. (2006). The quiet Americans: Formative context, the Academy of Management leadership, and the management textbook, 1936-1960. Management & Organizational History, 1(2), 201–224.
Hindle, K., & Cutting, N. (2002). Can applied entrepreneurship education enhance job satisfaction and financial performance? An empirical investigation in the Australian pharmacy profession. Journal of Small Business Management, 40, 162-167.
Hisrich, R.D., Peters, M.P., & Shepherd, D.A. (2009). Entrepreneurship (8th edition). New York: McGRaw-Hill/Irwin.
Honig, B. (2004). Entrepreneurship education: Toward a model of contingency-based business planning. Academy of Management Learning and Education, 3, 258-273.
Honig, B., & Bedi, A. (2012). The fox in the hen house: A critical examination of plagiarism among members of the Academy of Management. Academy of Management Learning & Education, 11, 101-123.
Honig, B., & Karlsson, T. (2004). Institutional forces and the written business plan. Journal of Management, 30, 29-48.
Honig, B., & Samuelsson, M. (2012). Planning and the Entrepreneur: A longitudinal Examination of Nascent Entrepreneurship in Sweden. Journal of Small Business Management, 50, 365-388.
Hunter, J.E., & Schmidt, F.L. (2004). Methods of meta-analysis (2nd ed.). Thousand Oaks, CA: Sage Publications, Inc.
Karlsson, T., & Honig, B. (2009). Judging a business by its cover: An institutional perspective on new ventures and the business plan. Journal of Business Venturing, 24, 27-45.
Klapper, R., & Tegtmeier, S. (2010). Innovating entrepreneurial pedagogy: examples from France and Germany. Journal of Small Business and Enterprise Development, 17(4), 552–568.
Kolvereid, L., & Moen, Ø (1997). Entrepreneurship among business graduates: Does a major in entrepreneurship make a difference? Journal of European Industrial Training, 21, 154–160.
Koschmann, T. (1999). Toward a dialogic theory of learning: Bakhtin's contribution to understanding learning in settings of collaboration. International Society of the Learning Sciences, 38, 308-313.
Krueger, N. (1993). The impact of prior entrepreneurial exposure on perceptions of new venture feasibility and desirability. Entrepreneurship Theory and Practice, 18, 5-21.
Krueger, N. (2009). The microfoundations of entrepreneurial learning and... education: the experiential essence of entrepreneurial cognition. In G. P. West, E. Gatewood & K. Shaver (Eds.), Handbook of University-wide Entrepreneurship Education (35-59). Cheltenham: Edward Elgar Publishing.
Kunzmann, U., & Baltes, P.B. (2003). The psychology of wisdom: Theoretical and empirical challenges. Cambridge, UK: Cambridge University Press.
Kuratko, D.F., & Hodgetts, R.M. (2004). Entrepreneurship: Theory, process, practice. Mason, OH: South-Western Publishers.
Martin, B., McNally, J.J., & Kay, M., (2013). Examining the formation of human capital in entrepreneurship: A meta-analysis of entrepreneurship education outcomes. Journal of Business Venturing, 28, 211-224.
Matlay, H. (2005). Researching entrepreneurship and education. Part 1: What is entrepreneurship and does it matter? Education & Training, 47, 665-677.
Matlay, H. (2006). Researching entrepreneurship and education. Part 2: What is entrepreneurship education and does it matter? Education & Training, 48, 704-718.
McKenna, B., Rooney, D., & Kenworthy, A.L. (2013). Introduction: Wisdom and management – a guest-edited special collection of resource reviews for management educators. Academy of Management Learning & Education, 12, 306-311.
Mentoor, E., & Friedrich, C. (2007). Is entrepreneurial education at South African universities successful? An empirical example. Industry and Higher Education, 21, 231-232.
Meyer, J, & Rowan, B. (1977). Institutionalized organizations: Formal structure as myth and ceremony. American Journal of Sociology, 83, 340-363.
Mintzberg, H. (2004). Managers not MBAs: A hard look at the soft practice of managing and management development. San Francisco, CA: Barrett-Koehler Publishers Inc.
Mir, A. (2003). The hegemonic discourse of management texts. Journal of Management Education, 27, 734-738.
Ollila, S., & Williams-Middleton, K. (2011) The venture creation approach: integrating entrepreneurial education and incubation at the university. Int. J. Entrepreneurship and Innovation Management, 13, 161–178.
Oosterbeek, H., van Praag, M. & Ysselstein, A. (2010). The impact of entrepreneurship education on entrepreneurship skills and motivation. The European Economic Review, 54, 442-454.
Orton, D. J., & Weick, K. E. (1990). Loosely coupled systems: A reconceptualization. Academy of Management Review, 15, 203-223.
Patel, N. (2009). Quicksprount (blog) Dec, 15, 2009. Accessed Jan. 6, 2016. Why entrepreneurs shouldn’t write business plans. http://www.quicksprout.com/2009/12/15/why-you-shouldnt-write-a-business-plan/.
Paul, R. W., (2001) Dialogical and dialectical thinking. In A. L. Costa, A. L. (Ed.) Developing minds: A resource book for teaching thinking (3rd ed.). Alexandria, VA: ASCD Press.
Pfeffer, J., & Fong, C. T. (2004). The business school “business”: Some lessons from the U.S. experience. Journal of Management Studies, 41, 1501-1520.
Piaget, J. (1950). The psychology of intelligence. London: Routledge and Kegan.
Pittaway, L., & Cope, J. (2007). Entrepreneurship education: A systematic review of the evidence. International Small Business Journal, 25, 479-510.
Pittaway, L., Hannon, P., Gibb, A., & Thompson, J. (2009). Assessment practice in enterprise education. International Journal of Entrepreneurial Behaviour & Research, 15(1), 71-93.
Platt, J.R. (1964). Strong inference. Science, 146, 347-353.
Polanyi, M. (1966). The tacit dimension. Garden City, New York: Doubleday.
Rowley, J. (2006). Where is the wisdom that we have lost in knowledge? Journal of Documentation, 62, 251-270.
Sarasvathy, S. (2001). Effectuation: Toward a theoretical shift from economic inevitability to entrepreneurial contingency. Academy of Management Review, 26, 243-263.
Shane, S.A. & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25, 217-226.
Shotter, J., & Tsoukas, H. (2014). In search of phronesis: Leadership and the art of judgment. Academy of Management Learning & Education, 13: 224-243.
Sitkin, S. (1996). Learning through failure: The strategy of small losses. In M. Cohen and L. Sproull (Eds.), Organizational learning (541-577). Thousand Oaks: Sage Publications.
Solansky, S. 2014. Education and experience impact leadership development psychological empowerment. Leadership and Organization Development Journal, 35, 412-426.
Solomon, G. (2007). An examination of entrepreneurship education in the United States. Journal of Small Business and Enterprise Development, 14(2), 168–182.
Sternberg, R. J. (1990). Wisdom: Its nature, origins and development. Cambridge: Cambridge University Press.
Sternberg, R.J. (1998). A balance theory of wisdom. Review of General Psychology, 2, 347-365.
Sternberg, R.J. (2000). Intelligence and wisdom. In R. Sternberg (Ed.), Handbook of intelligence: 631–649. Cambridge: Cambridge University Press.
Sternberg, R. (2001). Why schools should teach for wisdom: The balance theory of wisdom in educational settings. Educational Psychologist, 36, 227-245.
Timmons, J. & Spinelli, S. (2008) New venture creation: Entrepreneurship for the 21st century (8th Ed.). New York: McGraw Hill.
Weick, K.E. (1976). Educational organizations as loosely coupled systems. Administrative Science Quarterly, 21, 1-19.
Williams-Middleton, K., & Donnellon, A. (2014). Personalizing entrepreneurial learning: a pedagogy for facilitating the know why. Entrepreneurship Research Journal, 4(2), 167-204.
Woods, D. (1985). Problem-based learning and problem-solving. In D. Boud (Ed.), Problem-Based Learning in Education for the Professions (19-42). Sydney: HERDSA.
How to Cite
Authors who publish with this journal agree to the following terms:
1. The author(s) authorize the publication of the article in the journal;
2. The author(s) ensure that the contribution is original and unpublished and is not being evaluated in other journal(s);
3. The journal is not responsible for the opinions, ideas and concepts expressed in the texts because they are the sole responsibility of the author(s);
4. The publishers reserve the right to make adjustments and textual adaptation to the norms of publication;
5. Authors retain copyright and grant the journal right of first publication, with the work after publication simultaneously licensed under a Creative Commons (CC BY 4.0) that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal;
6. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal;
7. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access) at http://opcit.eprints.org/oacitation-biblio.html.