A next step in the evolution of entrepreneurship should be to make it a profession. Professional associations tend to have requirements such as:
– Ethical codes of conduct
– Continued professional development
Entrepreneurship, either within a start-up or within a large organization using the concepts, needs to be career option and have the same professional blending of experience and methodologies that other professions do. A profession tends to have a methodology or evolving body of knowledge for its members.
There are arguments against this:
– Entrepreneurship is experiential and exams/courses aren’t good indicators of potential,
– Entrepreneurs tend to learn and improve over time which is difficult to measure,
– Some entrepreneurs were fortunate to be in the right place and time, and, might not be able to repeat their success.
Essentially, because one obtains the requirements is not a strong indicator of their potential. However, it is an indicator that one has the structural foundation to learn and the focus to achieve.
As part of their evolving methodology or body of knowledge, associations tend to employ cases, concepts (both theoretical and practical), and simulations. Indeed, any course that uses business plans or does elevator pitch presentations is using a form of simulation.
One of the areas that I have been focusing on is the development of simulations as a way to get a blending of theory, methodology and practical experience into an interactive environment with iterative decision making. As well, as using the simulation approach to increase interest in becoming an entrepreneur and indicators of what the player needs to improve upon, See it at: http://www.experientialsimulations.com/Management_Simulations_Traction.html
If entrepreneurship was a profession it would achieve greater recognition as a career path, sharing of best practices should improve, advocacy could improve, and creativity and innovation should increase both in start-ups and in large organizations.