La educación ﬁnanciera como soporte del emprendimiento

en los estudiantes del bachillerato Técnico

https://doi.org/10.47230/revista.ciencia-lideres.v3.n1.2024.23-30

Revista Ciencia y Líderes

Volumen 3, Número 1, 2024

Universidad Estatal del Sur de Manabí

ISSN-e: 2960-8104

Financial education as a support for entrepreneurship in

Technical High School students

Ciencia y Líderes

UNIVERSIDAD ESTATAL DEL SUR DE MANABÍ

Volumen: 3

Número: 1

Año: 2024

Paginación: 23-30

URL: https://revistas.unesum.edu.ec/rclideres/index.php/rcl/article/view/73

*Correspondencia autor: baque-vicente9849@unesum.edu.ec

Recibido: 21-02-2024 Aceptado: 18-05-2024 Publicado: 20-06-2024

Oswaldo Vicente Baque Sánchez1

https://orcid.org/0009-0009-2748-1557

Walter Enrique Jalca Moreira2

https://orcid.org/0009-0004-6686-8686

1. Docente de la Unidad Educativa Quince de Octubre; Jipijapa, Ecuador.

2. Docente de la Unidad Educativa Quince de Octubre; Jipijapa, Ecuador.

3. Magíster en Educación Básica; Licenciada en Ciencias de la Educación Mención Educación General Básica; Docente de la Unidad Educativa Dr. Edmundo

Carbo; Jipijapa; Ecuador.

4. Magíster en Educación; Licenciada en Ciencias de la Educación Mención Inglés Francés; Docente de la Unidad Educativa Manuel Inocencio Parrales I

Guale; Jipijapa; Ecuador.

Verónica Isabel Pincay Reyes3

https://orcid.org/0009-0004-3724-8269

Jennifer Valeria Macías Solórzano4

https://orcid.org/0000-0002-6797-8930

ABSTRACT

Educational programs in the ﬁeld of ﬁnance and entrepreneurship as an early career boost are a goal in the

Ecuadorian educational system, therefore the objective of this research was to analyze the impact of ﬁnancial

education on entrepreneurship of young high school graduates at an early age. age sustainably. To analyze

the research problem, a prior study of the educational, economic and social context of current educational

programs was carried out. For this purpose, a documentary-bibliographic review of works related to the topic

was carried out, with which the theoretical content was substantiated and contrasted. The research had a

qualitative approach. It was concluded that the main difﬁculties in guaranteeing the sustainability of ventures

are an inadequate ﬁnancial culture, as well as the lack of innovation in educational establishments that allows

competitiveness in local markets.

Keywords: Innovation. Entrepreneurship, Educational context.

RESUMEN

Los programas educativos en el ámbito de las ﬁnanzas y el emprendimiento como impulso laboral tempra-

no, son una meta en el sistema educativo ecuatoriano, por ello el objetivo de esta investigación fue analizar

el impacto de la educación ﬁnanciera para el emprendimiento de jóvenes bachilleres a una temprana edad

de manera sostenible. Para el análisis de la problemática de la investigación se realizó un estudio previo del

contexto educativo, económico y social de los programas educativos actuales. Para este efecto, se realizó

una revisión documental-bibliográﬁca de trabajos relacionados con la temática, con lo cual se fundamentó y

contrastó el contenido teórico. La investigación tuvo un enfoque cualitativo. Se concluyó que las principales

diﬁcultades para garantizar la sostenibilidad de los emprendimientos es una inadecuada cultura ﬁnanciera,

así como la falta innovación en los planteles educativos que permita competitividad en los mercados locales.

Palabras clave: Innovación, Emprendimiento, Contexto educativo.

Ciencia y Líderes Volumen 3, Número 1, 2024

Introduction

Financial education is a fundamental

pillar for people to obtain the maximum be-

neﬁt from the ﬁnancial products and servi-

ces offered by the national ﬁnancial system

and, consequently, the national ﬁnancial

inclusion policy and the National Financial

Education Strategy are closely related, rein-

forcing each other. mutually (Inter-Ameri-

can Development Bank, 2020) (MINEDUC,

2022). Therefore, it is pertinent to have me-

chanisms that promote ﬁnancial inclusion

and that this is framed by current educatio-

nal bases.

According to (North et al., 2019), ﬁnan-

ce constitutes an economic discipline that

focuses on money management. In the ﬁeld

of business ﬁnance, organizations give value

to money through the efﬁcient use of their re-

sources. In the case of public ﬁnances, we

analyze how ﬁscal and monetary policies

optimize tax collection for reinvestment. Re-

garding personal ﬁnances, families calculate

their income and determine how much pru-

dence they need to pay for the end-of-the-

year vacations. Despite this, it is important to

highlight that ﬁnances are not universal nor

do they follow an exact pattern, since they

are closely linked to cultural values.

In Latin America, Ecuador has the hi-

ghest rate of entrepreneurial activity, as re-

vealed by a report that the ESPAE Graduate

School of Management of ESPOL presen-

ted as part of the Global Entrepreneurship

Monitor (GEM) project in 2015, in a global

report that measures entrepreneurship. The

GEM data indicate on a regional scale that

Ecuador is in ﬁrst place for entrepreneurs-

hip, followed by countries such as Chile with

25.9%, Colombia with 22.7%, and Peru with

an entrepreneurial rate of 22.2%. (Global

Entrepreneurship Monitor, 2016)

In the country different programs

encourage and ﬁnance entrepreneurship

as a micro-business management model,

however, many of these businesses do not

have continuity, development, sustainability

ARTÍCULO ORIGINAL: FINANCIAL EDUCATION AS A SUPPORT FOR ENTREPRENEURSHIP IN TECHNICAL HIGH

SCHOOL STUDENTS

or long-term economic sustainability, which

leads to a research problem aimed at the

factors that inﬂuence or limit local entrepre-

neurship. Given this, some investigations

will be addressed during the research pro-

cess, as indicated by (Anchundia Baque

and Barrezueta Ayala, 2017) as job oppor-

tunities have closed the doors to a countless

number of inhabitants, what is entrepreneur-

ship is born. which provides a means of en-

try into a highly competitive labour market.

With the participation of the leaders of

the Ministry of Education, the Secretariat of

Higher Education, Science, Technology and

Innovation (SENESCYT) and the Council of

Higher Education (CES), an Intersectoral

Agreement was signed on November 20

to implement the Financial Education in the

Educational System, with the support of the

private and public sectors. This agreement

provides the opportunity for students to ac-

quire important life skills, especially in ﬁnan-

cial literacy and entrepreneurship, which are

increasingly crucial in globalized societies.

Among the strengthened competencies are

adaptability, effective communication, crea-

tivity, autonomous problem-solving, emotio-

nal management, social interaction and tea-

mwork. (MINEDUC, 2022)

The Ecuadorian educational system, in

its commitment to generating opportunities

for young entrepreneurs, has developed

the subject of entrepreneurship and mana-

gement within the national curriculum (em-

prendimiento.ec, 2021), trying to boost the

resources that a certain community has with

the human value of preparation and develo-

pment of skills and abilities for entrepreneu-

rship and innovation from schooling. It refers

to the additional effort that a person makes

to achieve their goal; the term is also used

for the person who starts a new project or

business (Dorf, 2013). In Ecuador, poverty,

unemployment, and inequality are problems

that Ecuadorians face daily. For this reason,

other survival options were sought, such as

the creation of new sustainable ventures

that improve the economic situation, gene-

Ciencia y Líderes Volumen 3, Número 1, 2024

rate new jobs, and contribute to the coun-

try's economy (Paredes, 2017).

The incorporation of the subject of En-

trepreneurship and Management in the edu-

cational curriculum of the Uniﬁed General

Baccalaureate of Ecuador responds to the

national guidelines established by the cu-

rrent Legal Regulations, which seek to pre-

pare the students willing to create, build,

innovate, take risks, plan, execute and eva-

luate projects of all kinds. (Ecuador, 2017).

This initiative responds to the social needs

of generating employment opportunities ta-

king into consideration existing natural re-

sources that contribute to strengthening the

local economy.

The present research aims to diagnose

the development of entrepreneurship and

its sustainability in the international market

based on adequate ﬁnancial education,

through an epistemological study in which

designs are implemented in the labour mar-

ket and from the educational sector for the

country's economic development. This work

arises from the need to develop an appro-

priate methodology for the learning, design,

development and execution of projects

that allow young people to enter the world

of work and under the conditions of global

competitiveness.

In educational institutions, it is evident

that despite the integration of the entrepre-

neurship subject as the basis of the educa-

tional system, where the aim is to instill in

the student a ﬁnancial and entrepreneurship

culture, these high school graduates cannot

manage and organize businesses that allow

them to consolidate a commercial projec-

tion, on the contrary, they focus on following

that traditional pattern of behaviour that in-

volves loans and businesses without market

studies and with a total lack of administrati-

ve structures and ﬁnancing methods for the

management of capital. sustainable way;

and deﬁne this as the way to decide what

they will do in the future.

Methods

For the research to have a relationship

between the proposed objectives and the

problem statement, the historical-logical

method was used, where the diagnosis was

carried out and the antecedents that expan-

ded the research framework of the entrepre-

neurship management process used in the

ﬁrst were evaluated. year of high school ac-

cording to the curricular plan of the Ministry

of Education.

To determine the impact that is gene-

rated as a result of the interaction between

application of new knowledge, different on-

line classes developed on the Teams plat-

form (platform proposed by the MINEDUC)

were observed, as well as interviews with

teachers from the subject.

Through the analysis and synthesis

method, the bibliography and sources re-

lated to the topic are analyzed, as well as

the induction-deduction method that allows

for establishing the contextual model for the

development of entrepreneurship manage-

ment. In the logical historical method in the

analysis of the chronological process of de-

velopment and implementation of Entrepre-

neurship Management as a subject in the

Ecuadorian educational sector, as well as

the background that frames the importance

and efﬁciency at a global level.

Results

The social, urban and, above all, eco-

nomic development in developed countries

has been based on their capacity for en-

trepreneurship in different areas. This has

generated large-scale opportunities since;

by opening new jobs, the living conditions

of its inhabitants have improved. They be-

come more sophisticated, comfortable and

bearable, especially in the face of critical

situations in which underdeveloped coun-

tries live.

Baque Sánchez, O. V., Jalca Moreira, W. E., Pincay Reyes, V. I., & Macías Solórzano, J. V.

Ciencia y Líderes Volumen 3, Número 1, 2024

Before the 1990s, entrepreneurship was

thought to be primarily restricted to domes-

tic settings. More recently, it has become

evident that ventures can be internationally

active and successful (Presutti, 2017). As

indicated, entrepreneurship was conceived

as an extra-domestic activity that allowed

certain members of the household to deve-

lop activities in their leisure time to obtain

some additional good or remuneration. This

mode of entrepreneurship could be consi-

dered as an empirical and entertainment

activity, in which a good or service was offe-

red, sold or exchanged.

This type of practices has been develo-

ped many years ago and in different coun-

tries and societies, giving rise to innovative

ideas that allowed the development of infor-

mal commercial activities and that in some

cases resulted in a way of life and ﬁnancial

sustainability (Vecchio, 2013). In this way,

the ﬁrst patterns of unplanned entrepreneur-

ship arose, without a business plan and with

acceptable proﬁtability.

The well-known industrial development

in ﬁrst world countries has been the result of

investment, entrepreneurship and innovation

programs accompanied by efﬁcient ﬁnancial

education as part of projects that have sus-

tained their sustainability in the preparation

of human talent as added value, both to de-

sign, management, produce, distribute and

promote small and large-scale production,

satisfying consumer needs and generating

employment and investment opportunities.

Despite what is known internationally

about successful entrepreneurship models,

in Ecuador there is a deep-rooted conformist

culture in which entrepreneurs and micro-en-

trepreneurs reject processes of change and

innovation due to factors such as fear of fai-

lure and change, sentimental attachment

to real estate or simple conformity to obtain

what is necessary for a simple lifestyle.

In Ecuador, there are programs that pro-

mote entrepreneurship through the applica-

tion of viable and sustainable projects that

require capital to start their operation (De

Bono, 2019) (Presutti, 2017). This is an infor-

mation and data management platform for

the Ecuadorian entrepreneurship ecosys-

tem, which is connected to the Trueque Em-

prende APP, to obtain data such as: geo-

location, mapping, monitoring, interactions

and tracking of actors in the ecosystem.

Discussion

The inclusion of ﬁnancial culture in the

educational ﬁeld is a crucial aspect that indi-

cates the progress, need and opportunities

of countries. Financial education is of great

importance both for nations with extensive

experience that serve as models and for

those that are in the process of preparation

and implementation. Based on World Bank

data ﬁrst published in 2011, it provides

growth indicators and comparisons of the

actions people take around the world regar-

ding saving, borrowing, payments and risk

management (CEF, 2018).

The challenge of the Ministry of Educa-

tion is to place entrepreneurship as a funda-

mental part in the development of the stu-

dent, changing traditional paradigms and

instilling in them to be versatile and versatile

people that allows them to be autonomous

and able to adapt to the environment that

surrounds them and commit to the social

and economic development of its environ-

ment by creating enterprises that are com-

petitive, that are maintained and positioned

in the market, making the context a primary

aspect in the investigation of this problem,

which is why this article aims to analyze in-

novation strategies that promote Sustainable

entrepreneurship in high school students.

In Ecuador starting in 2015 the entre-

preneurship and management subject was

implemented, the purpose of which was to

prepare autonomous high school graduates

with new ideas and a consolidated entre-

preneurial spirit, however, the results are not

encouraging since the rate of entrepreneurs

is one of the lowest in Latin America, and

when it comes to commercial sustainability,

ARTÍCULO ORIGINAL: FINANCIAL EDUCATION AS A SUPPORT FOR ENTREPRENEURSHIP IN TECHNICAL HIGH

SCHOOL STUDENTS

Ciencia y Líderes Volumen 3, Número 1, 2024

many structural deﬁciencies affect young

entrepreneurs, especially high school gra-

duates who lack experience and innovative

and efﬁcient knowledge.

The entrepreneur is that individual who

identiﬁes, evaluates and takes advantage

of lucrative opportunities, considering the

risk, being attentive to opportunities and the

need for innovation (Venkataraman, 2017).

The results obtained during the research

with high school students show optimism on

the part of educational actors in the creation

of strategies that promote entrepreneurship

and knowledge with the related area, throu-

gh innovative projects. These projects are

developed in an organized, systematized

manner and with constant evaluation in the

proposed stages, to ensure the sustainabili-

ty of each initiative.

The research work of (Pulido, 2015) is

considered, which states: entrepreneurs-

hip is a way of thinking and acting oriented

towards the creation of wealth. It is a way of

thinking, reasoning and acting focused on

opportunities, presented with a global vision

and carried out through balanced leaders-

hip and the management of calculated risk,

its result is the creation of value that beneﬁts

the company, economy and society‖; This

concept goes hand in hand with innovation,

which not only talks about technological as-

pects, it is about changing an environment;

In other words, we seek to set objectives

and work diligently to achieve them for the

beneﬁt of our society.

In 2021, (Alberto Mogrovejo, 2021)

in his thesis stated entrepreneurship as a

dynamic strategy in Latin American eco-

nomies has been going on since the 90s,

Ecuador is one of the pioneers, although,

with several problems due to the difﬁculties

that new businesses have in being sustai-

nable, the objective is to determine the im-

portance of entrepreneurship to achieve

independence and economic stability. The

high levels of unemployment, and the low

quality of the existing ones, have created

the need to generate its own resources. The

State must train entrepreneurs by facilitating

knowledge of the different stages, in addi-

tion; to the banking investment contribution

in a better way; The research method is a

bibliographic review based on the technical

reports of the Global Entrepreneurship Mo-

nitor (GEM) (2018). The conclusion is that

the Government should create laws that en-

courage greater participation by banks in

microcredit; and, coordinate the monitoring

of these new business initiatives.

Taking into account the importance of

promoting a change of mentality in univer-

sity students, both authorities and parents

consider it crucial to motivate and guide

young people towards innovation from the

high school stage. For (Rauch et al., 2019)

this fosters proactive environments that fa-

cilitate the analysis of the student's imme-

diate environment to address and resolve

present challenges.

Conclusion

From an educational point of view, en-

trepreneurship and business productive ma-

nagement must be taken as a need of the

individual for their academic training, pro-

fessional development and insertion into the

world of work and be true entities of progress

and generators of opportunities and social

growth. With this premise, it is stated that the

best strategy to combat poverty, unemploy-

ment, crime, corruption and underdevelop-

ment in general is education. Governments

are obliged to prepare young entrepreneurs,

generators of their own progress, with an in-

novative spirit and with sufﬁcient cognitive

capacity to face new challenges that lead to

social economic development.

Bibliography

2U, Inc. (2017). Teach Make a Diference. http//teach.

com

Alberto Mogrovejo, E. V. (2021). EMPRENDIMIENTO

E INNOVACIÓN EN ECUADOR; UNA ALTERNA-

TIVA CON PROPUESTAS. Cotopaxi, Ecuador: Re-

vista de Ciencias Administrativas y Económicas.

Baque Sánchez, O. V., Jalca Moreira, W. E., Pincay Reyes, V. I., & Macías Solórzano, J. V.

Ciencia y Líderes Volumen 3, Número 1, 2024

Anchundia Baque, M., & Barrezueta Ayala, A. (2017).

PROPUESTA DE ASESORÍA EN GESTIÓN DE

EMPRENDIMIENTOS EN EL CANTÓN DURAN.

Guayaquil: Universidad de Guayaquil.

Ardichvili, A., Cardozo, R., & Ray, S. (2003). A theory

of entrepreneurial opportunity identiﬁcation and

development. Journal of Business Venturing.

Banco Interamericano de Desarrollo. (2020). Esca-

lando la nueva educación. Innovaciones inspira-

doras masivas en América Latina. Washington.

Carrillo, L. L. (2014). El emprendimiento como motor

de crecimiento económico. BICE.

CEF. (2018). Creative Education Foundation. http://

www.creativeeducationfoundation.org.

Christensen, C. (1997). The Innovator's Dilema When

New Technologies Cause Great Films to Fail.

Boston: Harvard Business School Press.

De Bono, E. T. (2019). El pensamiento creativo. El

poder del pensamiento lateral para la creación

de nuevas ideas. México D.F.: Paidós Mexicana

S.A.

Dorf, B. &. (2013). Manual del Emprendedor. Chile.

Ecuador, M. d. (2017). Educacion.gob.ec. https://

educacion.gob.ec/wp-content/uploads/down-

loads/2017/02/Guia-de-implementacion-del-Cu-

rriculo-de-Emprendimiento-y-Gestion-BGU.pdf

emprendimiento.ec. (2021). https://emprendimiento.

ec/tag/instituciones-de-apoyo/

Fuller-Love, N. (2016). Management development in

small ﬁrms. International Journal of Management

Reviews, 175-190.

Garcia, R. A. (s.f.). Studio S.L. Design Thinking en

Español. s.f. http//designthinking.es

Global Entrepreneurship Monitor. (08 de Junio de

2016). GEM. http://www.eltelegrafo.com.ec/es-

peciales/Documentos/GEM2015-Ecuador.pdf

Interaction Design Foundation. The Interaction De-

sign Foundation ApS [DK]. . (2017). The Interac-

tion Design Foundation ApS [DK]. . s.f. https://

www.interaction-design.org/.

Jarrín, C. M. (2018). Estrategias innovadoras para la

generación de nuevos proyectos tecnológicos

y educativos. Universidad Andina Simon Boli-

var-Ecuador.

Kirzner, I. (2009). The alert and creative entrepre-

neur: A clariﬁcation. Small Business.

Manolova, T. S., Eunni, R. V., & Gyoshev, B. S. (2018).

Institutional environments for entrepreneurship:

Evidence from emerging economies in Eastern

Europe. Entrepreneurship Theory and Practice.

MINEDUC. (2022). Ministerio de Educación de Ecua-

dor. pagina oﬁcial: https://educacion.gob.ec/

educacion-ﬁnanciera-se-ensenara-a-estudian-

tes-desde-inicial-hasta-bachillerato/

National Science Fundation. (2017). National Scien-

ce Fundation. http//www.nsf.gov/

North, D., Smallbone, D., & Vickers, I. (2019). Public

sector support for innovating SMEs. Small Busi-

ness Economics.

Osborn, A. (2013). Applied Imagination - Principles

and Procedures of Creative Writing. Read Books

Ltd.

P, S. R. (2018). Reﬂexiones sobre el concepto de in-

novación. Revista San Gregorio, 120-131.

Paredes, E. E. (2017). La demanda académica en la

Zona 3 como elemento determinante en el mer-

cado ocupacional. Ambato: Universidad Técnica

de Ambato, Facultad Ciencias Administrativas.

Presutti, M. B. (2017). Knowledge acquisition and the

foreign development of high-tech start-ups: A

social capital approach. International Bussiness

Rewiew.

PriceWaterhouseCoopers. (2020). Global Consumer

Insights Survey 2020: The consumer transformed.

https://www.pwc.es/es/retail-consumo/assets/in-

forme-pwc-consumer-insights-survey-2020.pdf

Pulido, W. A. (2015). La inno La innovación y el empr

ación y el emprendimient endimiento en la Univ

o en la Universidad de La Salle. Colombia: Cien-

cia Unisalle.

Rauch, A., Wiklund, J., Lumpkin, G. T., & Frese, M.

(2019). Entrepreneurial orientation and business

performance: An assessment of past research

and suggestions for the future. Entrepreneurs-

hip: Theory and Practice.

Ries, E. (2011). El método Lean Startup. Cómo crear

empresas de éxito utilizanod innovación conti-

nua. New York: Crown Business.

Runco, M. (1994). Problem ﬁnding, problem solving

and Creativity. New Jersey: Ablex Publishing

Corporation.

Vecchio, J. G. (2013). Utilidad social y económica.

Finanzas digital.

ARTÍCULO ORIGINAL: FINANCIAL EDUCATION AS A SUPPORT FOR ENTREPRENEURSHIP IN TECHNICAL HIGH

SCHOOL STUDENTS

Ciencia y Líderes Volumen 3, Número 1, 2024

Venkataraman, S. y. (2017). ¿Fomentar el espíritu

empresarial universitario? El efecto del Bayh-Do-

le Acton. Ciencia Digital.

Zamora-Boza, C. (2018). La importancia del empren-

dimiento en la economía: El caso de Ecuador.

Revista espacios, 39 (15-26).

Cómo citar: Baque Sánchez, O. V., Jalca Moreira, W. E.,

Pincay Reyes, V. I., & Macías Solórzano, J. V. (2024).

Financial education as a support for entrepreneurship

in Technical High School students. Revista Ciencia Y

Líderes, 3(1), 23–30. https://doi.org/10.47230/revista.

ciencia-lideres.v3.n1.2024.23-30

Baque Sánchez, O. V., Jalca Moreira, W. E., Pincay Reyes, V. I., & Macías Solórzano, J. V.