June 22, 2008
June 22, 2008
June 25, 2008
Entrepreneurship & Engineering Innovation
13.48.1 - 13.48.27
A Holistic Performance Measurement System for Entrepreneurship Education Abstract
While the Hinman CEOs Program at the University of Maryland, College Park is committed to preparing students for entry into the entrepreneurial community by developing their entrepreneurial mindsets and functional skill sets is a definitive objective, measuring performance in these areas is a significant challenge.
To meet this challenge, the Hinman CEOs Program has developed and implemented a performance measurement system that assesses its entrepreneurship students’ progress in courses and programs. Our performance measurement model is a picture of how the organization does its work and links both short- and long-term outcomes with program activities and the theoretical principles in play. The courses and activities managed by the University align with the teaching outcomes suggested by the National Content Standards for Entrepreneurship Education14. Collectively, a mixed-methods longitudinal study has been developed by us and is the basis of the design process. Therefore, data collection occurs at multiple stages over students’ time at the University and insights can be gathered on progress towards the key hypotheses.
This paper explores the process used to develop the unique performance measurement system. By discussing this process, and sharing details of the system, measurement instruments, and analysis methods, it is our hope that entrepreneurship educators can better serve their mission through effective performance measurement.
The approach to program evaluation for the Hinman CEOs Program is based on measuring short- and long-term outcomes with program activities and the theoretical principles of the program. The funding and assets of the Hinman CEOs Program support experiential education to include the living, learning, and launching activities. These activities align with the teaching outcomes suggested by the National Content Standards for Entrepreneurship Education14.
As illustrated in Figure 1, our performance measurement system is based on a four-dimensional evaluation model. Assessment of all four areas ensures that the Program employs a holistic approach to entrepreneurial education progress through both short-term measures (entrepreneurial mindset and functional skill sets) as well as long-term measures of new venture creation. Student satisfaction is also measured to identify areas for improvement and development in the Program, its courses, and related activities.
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