The impact of entrepreneurship education on the entrepreneurial mindset of students evidence from business discipline at vietnam national university, hanoi

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The impact of entrepreneurship education on the entrepreneurial mindset of students evidence from business discipline at vietnam national university, hanoi

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VIETNAM NATIONAL UNIVERSITY, HANOI VIETNAM JAPAN UNIVERSITY - DO THI HUYEN TRANG THE IMPACT OF ENTREPRENEURSHIP EDUCATION ON THE ENTREPRENEURIAL MINDSET OF STUDENTS: EVIDENCE FROM BUSINESS DISCIPLINE AT VIETNAM NATIONAL UNIVERSITY, HANOI MASTER'S THESIS Hanoi, 2020 VIETNAM NATIONAL UNIVERSITY, HANOI VIETNAM JAPAN UNIVERSITY -DO THI HUYEN TRANG THE IMPACT OF ENTREPRENEURSHIP EDUCATION ON THE ENTREPRENEURIAL MINDSET OF STUDENTS: EVIDENCE FROM BUSINESS DISCIPLINE AT VIETNAM NATIONAL UNIVERSITY, HANOI MAJOR: BUSINESS ADMINISTRATION CODE: 8340101.01 RESEARCH SUPERVISORS: Assoc Prof Dr VU ANH DUNG Prof.Dr HIROSHI MORITA Hanoi, 2020 TABLE OF CONTENTS LIST OF TABLES I LIST OF FIGURES II LIST OF ABBREVIATIONS III ACKNOWLEDGEMENT IV ABSTRACT V CHAPTER INTRODUCTION 1.1 Research motivation 1.1.1 Research Background 1.1.2 Theoretical motivation 1.2 Research purpose 11 1.3 Research question 12 1.4 Research scope 12 CHAPTER LITERATURE REVIEW .13 2.1 Entrepreneurship Education 13 2.1.1 Definition of Entrepreneurship Education 13 2.1.2 Summary of Entrepreneurship Education research 19 2.2 Entrepreneurial Mindset 23 2.2.1 Definition of Entrepreneurial Mindset 23 2.2.2 Overview of Entrepreneurial Mindset research 26 2.3 The impact of Entrepreneurship Education studies 29 2.4 Previous related research in Vietnam 33 2.5 Research gap 35 2.5.1 Hypotheses development 35 2.5.2 Research model 42 CHAPTER RESEACH METHODOLOGY 45 3.1 Sampling 45 3.2 Data collection process 46 3.3 Measurement of variables and questionnaire design 47 CHAPTER DATA ANALYSIS AND FINDINGS 49 4.1 Descriptive statistics 49 4.2 Testing the reliability, EFA and regression 50 4.2.1 Cronbach’s Alpha Test 50 4.2.2 Analyzing exploratory factor analysis (EFA) 52 4.2.3 The correlation between EE and EM of business discipline students, VNU 55 4.2.4 Regression analysis 55 CHAPTER RESULT AND DISCUSSION .60 5.1 Key findings 60 5.2 Discussion 60 5.3 Contributions of the study 62 5.4 Limitations & future research 64 REFERENCES .65 APPENDIX .73 APPENDIX .78 LIST OF TABLES Table 2.1 Definitions of Entrepreneurship Education (EE) in the literature 15 Table 2.2 Definitions of Entrepreneurial Mindset (EM) in the literature 24 Table 2.3 Summary of entrepreneurial mindset research 28 Table 2.4 Summary of entrepreneurship education impact research .30 Table 3.1 Measurement of Variables .47 Table 4.1 The Frequency of demographic information 49 Table 4.2 Cronbach’s Alpha coefficients results .51 Table 4.3 Exploratory factor analysis result of independent variables 52 Table 4.4 Rotated Component of independent variables 53 Table 4.5 Exploratory factor analysis result of dependent variables .54 Table 4.6 Rotated component of dependent variables .54 Table 4.7 Correlations between dependent variables and independent variables 55 Table 4.8 VIF diagnose of four independent variables 56 Table 4.9 Hypothesis testing result 56 Table 4.10 The effect on Entrepreneurial Mindset as a whole result 59 Table 5.1 Comparison of the result of the thesis with the article of Cui, J (2019) 61 I LIST OF FIGURES Figure 1.1 Vietnam in ranking of the Entrepreneurship Ecosystems Figure 2.1 Key Terms in Definition of EE 14 Figure 2.2 Comparison of enterprise education and EE 17 Figure 2.3 Comparison of business education and EE 18 Figure 2.4 Comparison of EE and Entrepreneurship Training 19 Figure 2.5 Objectives of Entrepreneurship Education 21 Figure 2.6 Target groups of Entrepreneurship Education 22 Figure 2.7 Summary of common approaches of EM research 27 Figure 2.8 Most common subjects taught in EE Programs 39 Figure 2.9 Most common pedagogical methods in EE 41 Figure 2.10 Theoretical framework 43 II LIST OF ABBREVIATIONS EE Entrepreneurship Education EI Entrepreneurial Intention EM Entrepreneurial Mindset GEM Global Entrepreneurship Monitor HSB Hanoi School of Business and Management IS International School MET Management of Enterprise and Technology SCT Social Cognitive Theory UEB University of Economics and Business VNU Vietnam Nation University, Hanoi III ACKNOWLEDGEMENT Throughout studying my study, I have received not only the great instruction of MBA program, but also valuable support from all professors, and my supervisors as well as my family and my friends With my deep gratitude, I sincerely express my appreciation and great thanks to: My Vietnamese Professor, Assoc Prof Vu Anh Dung He constantly spent his valuable time on guiding me detailly and enthusiastically in methodology and research model, helping me solve the problem during the time of doing the thesis My Japanese Professor, Professor Hiroshi Morita who not only spent his much valuable time for seminar and gave me very helpful advises I have learnt much about how to write academic paper thanks to his supervision and feedback Together with the lecturers Professor Yoshiki Matsui, Professor Daniel Heller, Professor Tohru Inoue, Professor Motonari Tanabu, Assoc Prof Kodo Yokozawa and Nguyen Anh Hao, Mrs Nguyen Thi Huong who gave me great assistance Lastly, I would be very grateful for my family and my friends who always I would like to send my gratefulness to my family and my friends who always motivate me in education process Sincerely, Do Thi Huyen Trang IV ABSTRACT In recent years entrepreneurship has had a positive impact on restructuring the economy, the labor structure and improving the competitiveness of the economy With the supportive policies of the government, improving the quality of entrepreneurship education becomes an important task for universities Furthermore, policies of the government have been implemented, entrepreneurship training activities have been held in several universities in Vietnam However, this topic is quite new in academic research With the aim of helping universities, educational policy makers have more resources and understand more about the various elements of entrepreneurship education and its impact not just on students’ entrepreneurship intentions, but it also influences their entrepreneurial mindset The paper explores the new factors: curriculum contents and pedagogical methods affecting on entrepreneurial mindset of students The study proposes theoretical model based on SCT theory which reveals the influence of environmental factors on the cognitive factor In term of methodology, the research applies quantitative method in which survey are collected from non-probability sample through paper questionnaires being designed adoptedly from previous relevant research Data of total 259 respondents coming from business student of four programs in VNU (are analyzed by SPSS version 20th, the results confirmed the model of the author Cui, J et al (2019) and shows the positive impacts of two new variables on their entrepreneurial mindset This research provide educator the knowledge and reference for practice in entrepreneurship education in terms of enriching entrepreneurial mindset of students V CHAPTER INTRODUCTION 1.1 Research motivation 1.1.1 Research Background In the context of globalization along with the explosion of industrial revolution 4.0, entrepreneurship is becoming an interesting topic which is concerned in many countries around the world with many different approaches, especially in the process of strong integration with the global economy, Vietnam has made great efforts to catch up with the trend accompanied by many opportunities and challenges Entrepreneurship become a significant role in the development of the economy (Kirby, 2004; Kuratko, 2005; Hebert, R F., & Link, A N, 2011) United Nations also emphasizes the important role of entrepreneurship toward achievement of sustainable development goals Entrepreneurship contributes to poverty eradication, employment and economic empowerment, leading to create economic growth and socio-economic development, increase the diversity of society, create many jobs for the community and society (Rashid, 2019) With the aim to achieve economic goals and sustainable development goals, Vietnam is also on a journey to become an Entrepreneurial Nation with the motto of not only doing businessmen, but also towards a refined society of entrepreneurship In particular, the role of the university plays a key, it is the place to train citizens with entrepreneurial spirit, the main motivation to promote the nation’s entrepreneurship However, in comparison the entrepreneurship ecosystem in Vietnam with 54 other countries in the world according to GEM (Global Entrepreneurship Monitor) in 2017, Vietnam has three highest ranking indicators, which are: Cultural and Social Norms (6/54), Internal Market - Dynamics (5/54), , Physical Infrastructure (10/54) whereas the lowest ranking is Education-Post-School (40/54) ranking 40th compared with 54 countries participated in GEM Lope Pihie, Zaidatol & SANI, Abdullah (2009) Exploring the entrepreneurial mindset of students: Implication for improvement of entrepreneurial learning at university Journal of International Social Research, Lorz, M., 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entrepreneurship education in the United States Journal of Small Business and Enterprise Development, 14(2), 168-82 71 Technology, N I (2018) The status of entrepreneurship education and training in the world currently Thanh Nien Publishing House (2018) https://www.gemconsortium.org/file/open?fileId=50235 Retrieved from Thomas D Craig Patrick G Maggitti Kevin D Clark (2014) Knowledge Flows and Constraints to the Entrepreneurial Process Entrepreneurial Resourcefulness: Competing With Constraints, 15, 185-205 Tien, N T T., & Viet, C Q (2019) Linking Entrepreneurial Intentions and Mindset Models: A Comparative Study of Public and Private Universities in Vietnam (Vol 21) Gadjah Mada International Journal of Business: 115-133 Tran, Anh T.P; Korflesch, H (2017) Social entrepreneurial intention: The case of National Economics University National Economics University Entrerpreneurship, 220–239 Ucbasaran, D., Westhead, P., & Wright, M (2007) Opportunity Identification and Pursuit: Does an 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Section 1: Respondents’ personal information □ Male Gender Major □ Management Science, USSH □ MET (HSB) Which year □ 1st year □ 2nd year Permanent place □ Urban/City areas □ Female □ □ Finance and International Banking Business (IS) (UEB) □ 3rd year □ 4th year □ Mountains/ island areas □ The others □ Rural areas Section 2: Questionnaire construct The extent of agreement is stated as followings Very disagree Disagree Neutral Agree Very agree Coding CA1 CA2 CA3 CA4 Question Curriculum attendance When studying this major, I think about business, entrepreneurship or being raised by others when communicating I think that the learned modules are related to entrepreneurship orientation for learners Participating in this major helps me understand about entrepreneurship or prepare for a future job I will accumulate many credits of modules related to entrepreneurship in my studying progress Extent of agreement 73 Coding CA5 Coding EA1 EA2 EA3 EA4 E A5 EA6 Coding CC1 CC2 CC3 CC4 CC5 Question Curriculum attendance I plan to study a few more certificates related to my major to prepare for career opportunities in the future if available Extent of agreement Question Extent of agreement Extracurricular activity I see that the university or the faculty regularly organizes seminars, talk shows related to entrepreneurship I see the university has many startup projects for students to participate in I see many my classmates also have small startup projects My university has several clubs related to entrepreneurship I think that the extracurricular activities of the faculty help to develop entrepreneurship education among young people today To me, the content of extracurricular activities is always attractive, providing a lot of information related to entrepreneurship Question Curriculum contents The entrepreneurship modules are developed to meet the criteria of the curriculum as I expected I am interested in the entrepreneurship modules because of interactive learning I gain a new experience through participating the entrepreneurship modules My liking to study entrepreneurship is more compared to other subjects I can develop entrepreneurship skills through the program Extent of agreement 74 Coding CC6 CC7 Coding PM1 PM2 PM3 PM4 PM5 PM6 PM7 PM8 PM9 PM10 Question Curriculum contents I have a better understanding about business as a result of taking up the entrepreneurship course I get more real experience while learning about entrepreneurship Extent of agreement Question Pedagogical methods I think lecturers have a great influence in inspiring or promoting entrepreneurship for students The lecturers did a good job in making the entrepreneurship course relevant to the real world The lecturers are experienced in teaching the courses in entrepreneurship I think that many entrepreneurship models introduced by lecturers are not interesting or convincing The lecturers take the students for visits to industries to gain more knowledge on the entrepreneurship Lecturers often teach start-up business models Practical sessions help a lot in understanding the entrepreneurship The lecturers have an excellent way of presenting the entrepreneurship modules The lecturers stimulate my interest in entrepreneurship course through the teaching methodologies 10 The stories of great entrepreneurs in the classroom motivate me learning about entrepreneurship project Extent of agreement 75 Coding AO1 AO2 AO3 AO4 AO5 Coding RP1 RP2 RP3 RP4 RP5 RP6 Coding AT1 AT2 Question Alertness to opportunity Identifying and catching opportunities is very valuable in promoting students’ entrepreneurial thinking I have frequent interactions with others to acquire new information I am keen on looking for information related to entrepreneurship I can recognize links between seemingly unrelated pieces of information I can distinguish between profitable opportunities and non-profitable opportunities Extent of agreement Question Extent of agreement Risk propensity I think that when starting a business, you need to be ready to face the risks I like to take chances, although I may fail I like waiting until things has been tested before I try it To earn greater rewards, I am willing to take higher risks I only like to implement a plan if its outcome is very certain I seek new experiences even if their outcomes may be risky Question Ambiguity tolerance The entrepreneurship modules have helped me to visualize difficulties and help me set future plans I always make plans from ideas and imagine what must when starting a business Extent of agreement 76 Coding AT3 AT4 AT5 AT6 AT7 AT8 Coding DO1 DO2 DO3 DO4 DO5 DO6 DO7 Question Ambiguity tolerance When I have not finished the tasks set out, I always feel anxious and find feasible solutions to I can tolerate ambiguous conditions and unpredictable results Before any important task, I must know how long it will take A good task is one in which what is to be done and how it is to be done are always clear When I think about starting a business, I am always consistent with my goals It really disturbs me when I am unable to follow another person's train of thought Extent of agreement Question Dispositional optimism The spirit of optimism is considered as an important factor to help entrepreneurs stand up to the challenges and difficulties from outside I am frustrated because of the initial failure I rarely count on good things happening to me In the process of starting a business, if I encounter difficulties, I will always look forward to the best results that will come If my startup process is in the wrong direction, I believe it will bring to me many valuable lessons for the next time I am always optimistic about my future I always have the desire to seek entrepreneurship opportunity in life Extent of agreement 77 APPENDIX Correlation analysis Correlations CA Pearson Correlation CA Pearson Correlation 463** 501** 507** 443** 413** 448** 410** 000 000 000 000 000 000 000 259 259 259 259 259 259 259 259 463** 480** 529** 500** 470** 444** 412** 000 000 000 000 000 000 259 259 259 259 259 259 501** 480** 564** 511** 450** 512** 494** Sig (2-tailed) 000 000 000 000 000 000 000 N 259 259 259 259 259 259 259 259 507** 529** 564** 624** 533** 546** 593** Sig (2-tailed) 000 000 000 000 000 000 000 N 259 259 259 259 259 259 259 259 443** 500** 511** 624** 700** 676** 719** Sig (2-tailed) 000 000 000 000 000 000 000 N 259 259 259 259 259 259 259 259 413** 470** 450** 533** 700** 762** 669** Sig (2-tailed) 000 000 000 000 000 000 000 N 259 259 259 259 259 259 259 259 448** 444** 512** 546** 676** 762** 698** Sig (2-tailed) 000 000 000 000 000 000 N 259 259 259 259 259 259 259 259 410** 412** 494** 593** 719** 669** 698** Sig (2-tailed) 000 000 000 000 000 000 000 N 259 259 259 259 259 259 259 Correlation Correlation Correlation Correlation Correlation Pearson Correlation DO DO 259 Pearson AT AT 259 Pearson RP RP N Pearson AO AO 000 Pearson PM PM Sig (2-tailed) Pearson CC CC Sig (2-tailed) N EA EA 000 259 ** Correlation is significant at the 0.01 level (2-tailed) 78 Regression analysis • Regression between group of Entrepreneurship education (CA, EA, CC, PM) and Alertness to opportunity (AO) Model Summary Model R R Adjusted R Std Error of Square Square the Estimate 675a 455 447 5010 a Predictors: (Constant), PM, CA, EA, CC ANOVAa Model Sum of df Mean Squares Square Regression 53.241 13.310 Residual 63.749 254 251 Total 116.990 258 a Dependent Variable: AO b Predictors: (Constant), PM, CA, EA, CC Coefficientsa Model Unstandardized Standardized Coefficients Coefficients B Std Beta Error (Constant) 211 228 CA 079 059 078 EA 190 063 174 CC 177 065 163 PM 541 083 401 a Dependent Variable: AO t 923 1.348 3.016 2.710 6.494 F 53.033 Sig .178 044 001 003 000 Sig .000b Collinearity Statistics Tolerance VIF 647 644 596 562 1.545 1.554 1.678 1.778 79 • Regression between group of Entrepreneurship education (CA, EA, CC, PM) and Risk propensity (RP) Model Summary Model R R Adjusted R Std Error of Square Square the Estimate a 597 356 346 4563 a Predictors: (Constant), PM, CA, EA, CC ANOVAa Model Sum of df Mean Squares Square Regression 29.246 7.311 Residual 52.875 254 208 Total 82.121 258 a Dependent Variable: RP b Predictors: (Constant), PM, CA, EA, CC Coefficientsa Model Unstandardized Standardized Coefficients Coefficients B Std Beta Error (Constant) 1.062 208 CA 087 054 101 EA 184 057 201 CC 122 059 133 PM 339 076 300 a Dependent Variable: RP t 5.113 1.615 3.197 2.047 4.471 F 35.123 Sig .000 031 001 021 000 Sig .000b Collinearity Statistics Tolerance VIF 647 644 596 562 1.545 1.554 1.678 1.778 80 • Regression between group of Entrepreneurship education (CA, EA, CC, PM) and Ambiguity tolerance (AT) Model Summary Model R R Adjusted R Std Error of Square Square the Estimate a 621 386 376 4685 a Predictors: (Constant), PM, CA, EA, CC ANOVAa Model Sum of df Mean Squares Square Regression 34.979 8.745 Residual 55.745 254 219 Total 90.724 258 a Dependent Variable: AT b Predictors: (Constant), PM, CA, EA, CC F 39.845 Sig .000b Coefficientsa Model Unstandardized Standardized t Sig Collinearity Coefficients Coefficients Statistics B Std Beta Tolerance VIF Error (Constant) 952 213 4.465 000 CA 120 055 133 2.180 015 647 1.545 EA 118 059 122 1.998 023 644 1.554 CC 215 061 224 3.519 000 596 1.678 PM 341 078 287 4.377 000 562 1.778 a Dependent Variable: AT 81 • Regression between group of Entrepreneurship education (CA, EA, CC, PM) and Dispositional optimism Model Summary Model R R Adjusted R Std Error of Square Square the Estimate a 630 397 387 5354 a Predictors: (Constant), PM, CA, EA, CC ANOVAa Model Sum of df Mean Squares Square Regression 47.903 11.976 Residual 72.819 254 287 Total 120.722 258 a Dependent Variable: DO b Predictors: (Constant), PM, CA, EA, CC F 41.773 Sig .000b Coefficientsa Model Unstandardized Standardized t Sig Collinearity Coefficients Coefficients Statistics B Std Beta Tolerance VIF Error (Constant) 594 244 2.438 008 CA 076 063 073 1.212 036 647 1.545 EA 076 067 068 1.122 038 644 1.554 CC 213 070 193 3.054 001 596 1.678 PM 563 089 411 6.319 000 562 1.778 a Dependent Variable: DO 82 • Regression between group of Entrepreneurship education (CA, EA, CC, PM) and Entrepreneurial Mindset Model Summary Model R R Adjusted R Std Error of Square Square the Estimate a 720 518 510 3892 a Predictors: (Constant), PM, CA, EA, CC ANOVAa Model Sum of df Mean Squares Square Regression 41.323 10.331 Residual 38.467 254 151 Total 79.790 258 a Dependent Variable: EM b Predictors: (Constant), PM, CA, EA, CC F 68.215 Sig .000b Coefficientsa Model Unstandardized Standardized t Sig Collinearity Coefficients Coefficients Statistics B Std Beta Tolerance VIF Error (Constant) 673 177 3.801 000 CA 090 046 107 1.967 025 647 1.545 EA 140 049 155 2.849 002 644 1.554 CC 181 051 201 3.561 000 596 1.678 PM 459 065 412 7.098 000 562 1.778 a Dependent Variable: EM 83 ... conducting the research ? ?The impact of entrepreneurship education on entrepreneurial mindset of students in Business discipline at Vietnam National University, Hanoi? ?? The reason for choosing Vietnam. .. research: ? ?The impact of entrepreneurship education on the entrepreneurial mindset of college students in China: The mediating role of inspiration and the role of educational attributes” explored the. .. entrepreneurship education on the cultivation of entrepreneurial mindset of students in Business discipline at Vietnam National University by Social Cognitive Theory; Create an entrepreneurship education model

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