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Practical Pedagogies, Cologne, November 2018

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Enterprise Education: How can we improve students' learning and involvement in entrepreneurship?

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Practical Pedagogies, Cologne, November 2018

  1. 1. Enterprise Education: How can we improve students' learning and involvement in entrepreneurship? Practical Pedagogies Cologne, November 2018 http://bit.ly/EntEd
  2. 2. Introducing myself Shani Hartley ▪ Grew up in Wagga Wagga ▪ Completed B.Com (accounting) part-time ▪ Worked in finance ▪ pudaerior alis mos velendis am secum ent ▪ uptur adi untios deliquia num seque liciis rem
  3. 3. Wagga Wagga High School
  4. 4. Junee Licorice Factory
  5. 5. Coolamon Cheese Factory
  6. 6. Who am I? ▪ Grew up in Wagga Wagga ▪ Completed B.Com (accounting) part-time ▪ Worked in finance (tax & funds management) ▪ After having children completed Grad.Dip.Ed ▪ 15 years teaching high school ▪ Just completed MRES in Enterprise Education ▪ About to start PhD ▪ @shhartley
  7. 7. Enterprise Education Definition ▪ Write on post-it notes what you think enterprise education is about – What students learn – How they learn http://bit.ly/EntEd
  8. 8. Enterprise Education Definition ▪ Entrepreneurship ▪ Skills and attributes ▪ About/for/through enterprise
  9. 9. Skills and attributes - Individuals ● Shifting from reactive to creative mind-sets ● From certainty to discovery: Fostering innovation (see below) ● From authority to partnership: Fostering collaboration ● From scarcity to abundance: Fostering value creation ● A disciplined approach
  10. 10. Skills and attributes - Teams ● Build open, diverse, and empowered teams, encouraging plural views and dissent. ● Work in rapid cycles, with rigorous task prioritization; focused, short bursts of work; frequent reflection to measure and learn. ● Focus on customers ● Design thinking and business-model innovation https://www.mckinsey.com/business-functions/organization/our-insights/leading-agile- transformation-the-new-capabilities-leaders-need-to-build-21st-century-organizations
  11. 11. Experiential Learning - Kolb Image: https://en.wikipedia.org/wiki/File:The_Four_Steps_in_Kolb_Cycle.svg
  12. 12. https://artsentrepreneurshipgames.com/
  13. 13. Games Best Business Simulation Games 2018 https://www.businessnewsda ily.com/10717-best- business-simulation- games.html
  14. 14. Enterprise Education Lemonade Stand Game ▪ Students play at home for an hour or more ▪ Reflect on what they learnt ▪ Propose ways to improve the game
  15. 15. Practice-Based - Neck et al.
  16. 16. https://www.bdc.ca/en/articles-tools/entrepreneur-toolkit/business- assessments/pages/self-assessment-test-your-entrepreneurial- potential.aspx Image: http://maxpixel.freegreatpicture.com/Question-Mark-Question-Bulb-Quiz-Solution-Idea-2039120 Definition ▪ Self-evaluation Quiz ▪ Before and after the quiz, ask students whether the would be a good entrepreneur (PZ: I used to think… Now I think… ) ▪ Why/why not? Entrepreneurship Quiz
  17. 17. Image: http://maxpixel.freegreatpicture.com/Question-Mark-Question-Bulb-Quiz-Solution-Idea-2039120 Possible means ▪ Homework assignment ▪ Line up a cafe (small class) ▪ Guest speaker eg parent Possible tasks ▪ Most surprising comment ▪ Most important tip/advice ▪ Link to curriculum objectives Interview an Entrepreneur
  18. 18. Generating Business Ideas Brainstorm ▪ A passion of yours ▪ Emotionally based – What makes you angry/frustrated/sad? ▪ A problem needing to be solved ▪ Gap in the market Image: https://pixabay.com/en/question-mark-question-response-1019993/
  19. 19. What if? ▪ What if I had $1m dollars and time on my hands, what would I do? ▪ What if I was in the NASA program to go to Mars? What would I need? ▪ What would I do if I no longer needed sleep? ▪ What would I ask for if I had three wishes? Generating Business Ideas
  20. 20. Partner Activity ▪ What problems do you see in your community? ▪ What do you wish was better, faster or cheaper? ▪ What keeps you awake at night? ▪ What would you do with a magic wand? ▪ What would you do with $10,000? ▪ How do you want to make other people’s lives better? Create a business idea for your partner. Generating Business Ideas
  21. 21. Generating Business Ideas Make a choice ▪ On your own or join with 1-2 others ▪ Choose an idea to explore further Image: https://pixabay.com/en/photos/exchange%20of%20ideas/
  22. 22. Lotus Charts
  23. 23. Lotus Charts
  24. 24. Generating Business Ideas ▪ Select just one idea from the matrix Image:https://pixabay.com/en/away-junction-direction-1019745/
  25. 25. PZ: Colour Symbol Image For your business idea 1. Choose a COLOUR you think best represents the idea 2. Create a SYMBOL to represent the idea 3. Sketch an IMAGE to capture the idea http://www.visiblethinkingpz.org/VisibleThinking_html_files/03_Thin kingRoutines/03d_UnderstandingRoutines/ColourSymbolImage/Col ourSymbolImage_Routine.html
  26. 26. Creativity - Draw a Bridge Distribute one picture with instructions to one half of students and the other picture to the other half of the students. Pic 1: Take a few minutes to make a drawing of this bridge, capturing its features Pic 2:: Take a few minutes to draw a way across this river Image from: https://pixabay.com/en/stream-water-nature-flowing-blue-310145/
  27. 27. Creativity - Draw a Bridge Questions re drawing a bridge • How did you start? What did you look at? • What assumptions did you make? • What process did you take? • Was the task clear or unclear? Lead this into a discussion about the value of creativity.
  28. 28. Resource Acquisition For your business idea 1. Write down 2-10 resources (human, social, technological, financial, organisational, physical) you need to put the idea into action (and/or use this list) 2. Find people in the room who possess these resources and have them sign their name next to the resources they possess Neck, H.M., Greene, P.G., & Brush, C.G. (2014). Teaching Entrepreneurship: A Practice-Based Approach. Edward Elgar Publishing. pp.214-218
  29. 29. Resource Acquisition Resource-based theory • Concept: resources controlled by a business include all assets, capabilities, organisational processes, business attributes, etc, to conceive of and implement strategies that improve its efficiency and effectiveness (Barney, 1991). • Resource types: human, social, financial, physical, technological and organisational (Brush et al., 2001) Neck, H.M., Greene, P.G., & Brush, C.G. (2014). Teaching Entrepreneurship: A Practice-Based Approach. Edward Elgar Publishing.
  30. 30. Resource Challenge • How much profit can you generate with just $5 in x amount of time? Keep the profit, return the $5 investment. – Nothing illegal, no gambling, no extra cash • Deliver a PowerPoint presentation to address the following: – What did you do? – How much profit did you earn? – What did you learn about resources? • Grade is determined by profit and creativity Neck, H.M., Greene, P.G., & Brush, C.G. (2014). Teaching Entrepreneurship: A Practice-Based Approach. Edward Elgar Publishing.
  31. 31. Customer Persona • Describe/draw a typical customer: give them a name. How old is the customer? Where does the customer live and what is their family like? What does the customer do (work, school, etc) and where? What’s the customer’s background (experience, education)? Does the customer have certain interests or hobbies? What about the customer’s beliefs? Can you say something else about the customer? • How does the customer spend their time relative to the opportunity? Tell a story about a typical usage situation. • What problem does the customer have relative to your opportunity and why? • What are the different ways the customer solves this problem? How does the customer feel about these different solutions? Neck, H.M., Greene, P.G., & Brush, C.G. (2014). Teaching Entrepreneurship: A Practice-Based Approach. Edward Elgar Publishing.
  32. 32. Monopoly - Accounting • Students play Monopoly • They record every transaction according to the principles of double-entry accounting Revenue Statement • REVENUE: Income from passing GO, rent received and prizes for coming second in the beauty contest • EXPENSES: Rent paid, doctors’ fees, school fees and fines http://poki.com/en/g/monopoly
  33. 33. Balance Sheet • OWNERS EQUITY: The initial money allocated to each player is classed as capital contributed and at the end of the game the net profit become retained profits • LIABILITIES: Any amounts owed to the bank due to mortgaged properties • ASSETS: Property, houses, hotels and cash held Monopoly - Accounting
  34. 34. • At the end of the game count the cash remaining to check accuracy against the recorded amount • And that ASSETS = LIABILITIES + OWNERS EQUITY Check the Return on Equity (ROE). Is the winner the one with the most assets, or the highest profit or do they happen to be one and the same? Monopoly - Accounting
  35. 35. Trade Fair - Marketing
  36. 36. Elevator Pitch Rubric Peer assessment ▪ Did the student clearly identify a problem and a solution? ▪ Is their competition clearly addressed? ▪ Is the product/clear service? ▪ Did they articulate a clear target market? ▪ Are the financials clear and date when profit will be achieved identified? ▪ Is the concept feasible? ▪ Does the student appear confident? ▪ Is the communication clear and inspiring?
  37. 37. Shark Tank See task.
  38. 38. The DeLorean Project
  39. 39. Reflection Choose one of the following: 1. What has been useful about today’s workshop? How might you use what you have learned in the future? 2. Write a haiku 3. Draw a picture or a comic 4. Share with a partner 5. Use the conference Twitter hashtag #pracped18

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