Exploring the Value Proposition of the Undergraduate Entrepreneurship Major and Elective Based on Student Self-Efficacy and Outcome Expectations

Abstract

Research suggests that students with undergraduate entrepreneurship education are more successful entrepreneurs than those without such education. However, since this type of education is not a prerequisite for prospective entrepreneurs, one should understand the value proposition of such entrepreneurship education. Based on the Social Cognitive Career Theory, this research examines the effects of self-efficacy and outcome expectations on interest in an entrepreneurship major and elective. Findings suggest students’ self-efficacy for having a successful career as an entrepreneur increases their interest in entrepreneurship education; however, outcome expectations for such education differ based on the students’ level of self-efficacy. The authors believe that these results identify a disconnection between the intent of entrepreneurship education compared to its perception by undergraduate students. The implications of the findings of this research suggest that increasing the secondary school students’ understanding and awareness of entrepreneurship could lead to greater levels of interest in entrepreneurship careers and undergraduate entrepreneurship education regardless of the students’ intended field of study, and the integration of entrepreneurship education components into non-entrepreneurship undergraduate curricula could lead to an increased interest in entrepreneurship careers and entrepreneurship education.