Skills And Attitudes For The Future Entrepreneurship In Schools. Iceland Des. 2009


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Skills And Attitudes For The Future Entrepreneurship In Schools. Iceland Des. 2009

  1. 1. Skills and Attitudes for the Future - Entrepreneurship in schools “Innovation and Creativity in the Hands of the Young” Des. 3. 2009 Reykjavik, Iceland Johan H. Andresen
  2. 2. Agenda • Ferd – an overview – Who and what we are • The rationale for investing in young people – The future of the Welfare State – Social Entrepreneurs • An example: The Science Factory • Junior Achievement – Young Enterprise – Europe – The Norwegian Model (Ungt Entreprenørskap) – Results • Students and teachers • Start-up rates • Drop- out rates • The demands of the market 2
  3. 3. Vision, Corporate Mission Statement and Value Platform VISION We will create enduring value and leave clear footprints Operational Corporate values values Expertise Credibility Networking POSISION Spirit of adventure An owner and partner who seeks new avenues for turning bright Capital ideas into sound business Teamwork Long-term view CORPORATE MISSION STATEMENT Ferd will focus on being a proactive long-term owner of strong companies with international potential as well as operating as a financial investor, making use of its core expertise in finance, business development and networking 3
  4. 4. Turnover EUR 2.7 bill, 19.000 employees* *Incl. >50 % controlled companies 4
  5. 5. Ferd investments in 50%+ controlled companies 5
  6. 6. A privately held Norwegian investment company Ferd Ferd Ferd Ferd Ferd Ferd Ferd External Social Capital Invest Real Estate Venture Managers Entrepreneurs Elopak (100%) Nordic listed Hedgefond Development Direct Swix Sport stocks Private Equity Investments investments (100%) fond Management Energy Ventures Aibel (49,9%) Herkules Private Fond I, II og III Equity Fund I, Energy II og III Ventures AS Herkules Capital (25%) (40%) Special Opportunities 6
  7. 7. Social Entrepreneurs • People with innovative solutions to some of societies most pressing social problems • Using business methods to achieve a ”double bottom line” – A social and a financial bottom line • Wish to change beliefs and thereby whole systems • Visionary and realists – the implementation of the vision is their primary object 7
  8. 8. Establishment of Ferd Social Entrepreneurs • Ferd must be socially responsible in our daily activities, i.e. this is Ferd Social Enterpreneurs not part of a CSR policy • Ferd invests in selected organizations, project and leaders who give people, and especially children and youth, the possibilities to develop their own ideas and full potential • Ferd’s investments should make a measurable impact and a real difference • Ferd’s human resources and competencies are especially valuable to social entrepreneurs 8
  9. 9. Research and Technology – for Young and Old (teachers) Outside Inside Children Youth 9
  10. 10. Entrepreneurship & The Welfare State • The Welfare State assumes value creation resulting in employment, taxes and fees • Value creation assumes increased productivity due to global competition and smaller workforce • Productivity assumes entrepreneurship, i.e. values, knowledge, skills, creativity, innovation, risk taking, execution and hard work • Ergo: The Welfare States assumes entrepreneurship - If you disagree, you can change your own diapers when you lie there with dementia at the age of 92……. 10
  11. 11. 1 out of 3 does not complete secondary school Studies % who % who drop out fails Language, business 4,9 14,7 A sorry and admin. studies contributor to Sports Education 3,0 19,6 the almost studies 700.000 Building studies 24,3 17,7 Norwegians who are Electro studies 26,7 20,2 outside the workforce – Mechanical studies 35,5 20,0 on welfare, Carpenter studies 47,1 20,6 sick leave, jail, etc…. Hotel & food studies 49,2 21,4 Source: ”Selection and competance”, NifuStep, report 13/2008 11
  12. 12. The Solution: Entrepreneurship in schools 12
  13. 13. JA Worldwide ® 2008-09 Enrolment Totaled 9,797,897 3,105,753 4,098,366 1,209,447 159,418 132,908 1,092,005 13
  14. 14. 14
  15. 15. Partners in Support from  entrepreneurship the Government  education app 3 mill € Education Enterprise Private in education Public JA-YE Norway Start up 15
  16. 16. Entrtpreneurship in schools – important to whom? • School Administration – Leadership and positioning • Teachers – Getting across, learning and celebrating • Students – Relevance, self worth and skills • Employers • Society 16
  17. 17. …the “soft” skills… students 1990 - 2003 By doing the JA-YE Company Program, the former students answered: • Made the schoolwork more interesting and stimulating: 80% • Influenced on the relations between students and teachers in a positive way: 64% • Influenced on the friendship between the students in a positive way 70% By doing the JA-YE Company Program, the teachers answered: • Meant a lot for the students abilities to solve problems: 89% • Made the schoolwork more interesting and stimulating for students: 87% • Meant a lot for the students motivation to start their own business: 73% • Meant a lot for their cooperation skills: 91% • Meant a lot regarding their attitudes to start their own business: 73% • Teaching this way, was a very positive experience for me as teacher:81% 17
  18. 18. Effects of entrepreneurship education in Norway and Sweden on start-up rates Start-up rate among students who have participated in the JA-YE Company Program – Upper Secondary Level - the hard facts: Students from 1990 to 2003 Norwegian survey Study done twice in Norway and 2005 three times in Sweden. Below 21 years 0,0 % The conclusions are the same: 21 - 24 years old 14,8 % The level of entrepreneurial activity among students who have 25 - 28 years old 10,4 % participated in the Company 29 + 26,6 % Program is at least the double of the average population… Total 16,6 % The average start-up rate in Norway among non-participants is 7,0 % 18
  19. 19. Reduction in drop-out rates = Increased value creation # ”Company Program as mean to reduce • Reduced absence # unauthorized absence” - Authors: Johansen and Schanke, 2009 • Increased motivation • Higher self confidence in selection of subjects in secondary schools • Increases establishment of own business* * ”Promoting the entrepreneurs of tomorrow: entrepreneurshipeducation and start-up intentions among schoolchildren” - Authors Johansen and Clausen (article to be published in 2010) • Return: 15-23 x your money – by keeping a student in school, out of the welfare line, and on track to employment or own start-up 19
  20. 20. Employers - today • Risky to employ students who has no work experience • But to keep cost down while competing for talent, companies do it anyway… • Extremely valuable therefore that students get: – Academic knowledge, combined with, – Understanding of elementary tools and skills needed to create value. – And this is what entrepreneurship in school does today 20
  21. 21. What does Ferd look for when we recruit ? • Attitudes – Values, personal and Ferd’s, sharing the vision – Likes challenges and responsibility – Understands own strengths and weaknesses – Enjoys making others excel – Risk – understanding of and willingness – Execution – Sense of humor and self-irony • Abilities – Ability to understand complex issues quickly – Ability to make decisions that create value 21
  22. 22. Employers - tomorrow • The Future – Companies know less about the future than ever before – Even expected changes occur unexpectedly fast – Overflow of information – Tomorrows businesses have not been created yet • But we do now – Knowledge can become outdated, but the attitude to seek new understanding can last a lifetime • The most important aspect for business: – Students who have discovered the ability and willingness to learn continuously – and do it – And it is this that entrepreneurship in schools must do in the future. 22
  23. 23. Entrepreneurs are made, not born 23