Transforming Business Innovation Into Entrepreneurial Opportunities
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The document discusses different approaches to entrepreneurship education, including both deductive and inductive learning, incubator programs, intensive mentoring, venture capital funds, and field consulting. It argues that entrepreneurship education should emphasize both applying concepts and developing unique solutions. Incubator programs provide support and resources during the vulnerable startup period. Mentoring helps students gain insights from experienced entrepreneurs. Venture capital and angel funds can provide seed funding. Field consulting assists both new and growing businesses, helping students understand managing a company. The authors propose a new framework for entrepreneurship education focusing on changing paradigms, renewing methods, and understanding content.
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Karwan jafi 1
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Teaching Business Students the Art and Science of Innovation.docx
Teaching Business Students the Art and Science of Innovation
Dr. Uma G. Gupta, State University of New York at Buffalo State, NY, USA
ABSTRACT
Today the ability to innovate has become a core and sought after business competency. While innovation is often
taught in capstone business courses as a topic, this paper argues that the time is right to make innovation the central
theme in teaching strategic management. The McKinsey &Company framework is used to teach students the eight
essential ingredients of innovation and its execution. The opportunities to integrate previous knowledge about other
business functions into the teaching of innovation is outlined. The critical business lessons that can be imparted to
business students through the McKinsey framework is discussed.
Keywords: Strategic management curriculum, innovation, innovation framework, business competencies.
INTRODUCTION:
Strategic management is a capstone course in most undergraduate business degree programs in U.S. institutions. The
strategic management course integrates fundamental business concepts from accounting, finance, production, human
resources, marketing, and leadership and challenges students to apply these integrated concepts in order to leam how
to run a business. This gives students a deeper understanding of the many challenges that CEOs face in ensuring the
success and sustainability of their company in the face of rapid changes. They realize that while hindsight is easy,
consistent and high-quality execution is not.
One of the key factors today in ensuring the long-term success and sustainability of any business is the art and
science of innovation. The rise of the new economy, characterized by intense global competition, advanced
information technologies, a virtual 24x7 workforce, and an almost ubiquitous world of online business transactions
free of geographical boundaries, has made information, knowledge, and innovation integral and invaluable in
creating and managing sustainable competitive advantage. In other words, it is not enough if our students understand
the fundamental concepts of business and how to apply them to a business setting. Instead, today they should know
how to apply core business concepts through the lens of speed, innovation, and customer service. This paper focuses
on how to integrate the fundamentals of innovation into the strategic management curriculum.
There are at least three challenges in teaching innovation to undergraduate students.
1- What does it mean? Not only students, but business owners and leaders too, sometimes struggle to define
innovation in meaningful, concrete and operational terms, although many understand it intuitively. Words
such as creative, unique, transformation, revolution, etc. come to mind, but how can we teach students to
translate this into operational concepts that can be executed for the long-range success of a company?
2. Company size: Most students are familiar with the big br.
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1. Entrepreneurship development aims to improve entrepreneur skills and knowledge through training to increase new business creation and economic growth.
2. The key steps in entrepreneurship development programs are outlining objectives, selecting potential entrepreneurs with education or local market knowledge, and providing support through private or government organizations.
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PrefaceTraditionally, training and development were not viewed a.docx
Preface
Traditionally, training and development were not viewed as activities that could help companies create “value” and successfully deal with competitive challenges. Today, that view has changed. Companies that use innovative training and development practices are likely to report better financial performance than their competitors that do not. Training and development also help a company develop the human capital needed to meet competitive challenges. Many companies now recognize that learning through training, development, and knowledge management helps employees strengthen or increase their skills in order to improve or make new products, generate new and innovative ideas, and provide high-quality customer service. Also, development activities and career management are needed to prepare employees for managerial and leadership positions and to attract, motivate, and retain talented employees at all levels and in all jobs. An emphasis on learning through training, development, and knowledge management is no longer in the category of “nice to do”—they are a “must do” if companies want to gain a competitive advantage and meet employees’ expectations.
Businesses today must compete in the global marketplace, and the diversity of the workforce continues to increase. As a result, companies need to train employees to work with persons from different cultures, both within the United States and abroad. Technologies, such as social media, and tablet computers, such as the iPad, reduce the costs associated with bringing employees to a central location for training. At the same time, the challenge is ensuring that these training methods include the necessary conditions (practice, feedback, self-pacing, etc.) for learning to occur. Through the blended learning approach, companies are seeking the best balance between private, self-paced, technology-based training (such as online learning), and methods that allow interpersonal interaction among trainees (such as classroom instruction or active learning). Employees from the millennial generation are well versed in informal learning, especially through collaboration facilitated by social media such as Facebook and Twitter. Also, their gaming experiences lead them to expect that learning experiences will be fun, multidimensional, challenging, and provide immediate feedback and rewards.
The role of training has broadened beyond training program design. Effective instructional design remains important, but training managers, human resource experts, and trainers are increasingly being asked to create systems to motivate employees to learn, not only in programs but informally on the job; create knowledge; and share that knowledge with other employees in the company. Training has moved from an emphasis on a one-time event to the creation of conditions for learning that can occur through collaboration, online learning, traditional classroom training, or a combination of these methods. There is increased recog.
Future of Business Education - working document
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Entrepreneurship education challenges and opportunities in indian context
This document provides guidelines for promoting entrepreneurship education in India. It states that entrepreneurship education needs to be separated from traditional MBA programs and have its own distinct approach. Rather than focusing on academic skills, entrepreneurship education should develop decision-making and team-building capabilities. The author is passionate about promoting entrepreneurship education in India and believes there is a need to establish different systems for student selection, training, and support that are tailored to entrepreneurship. The document discusses recommendations for the curriculum, teaching methods, program structure, role of faculty, and key focus areas to effectively promote entrepreneurship education.
Fbem
This document provides information on a Bachelor of Business Administration program in family business and entrepreneurship management. The 3-year program aims to prepare students to start their own businesses by providing skills and knowledge in areas like identifying business opportunities, developing business plans, marketing, finance, and legal and ethical responsibilities. Coursework covers topics such as entrepreneurship essentials, introducing the entrepreneurial process, and a basic course structure focusing on identifying opportunities, building and financing a business. The program objectives are for students to gain entrepreneurship knowledge and skills, conceive and develop opportunities, assess feasibility of business concepts, and start successful businesses through critical thinking, communication, technology use, and understanding of finance, marketing, and ethics.
Program-Brochure-IMP-International-Management-Program-inc-fact-sheet
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White paper on entrepreneurial mentoring
In this short white paper, I will endeavour to answer the key questions you may have about entrepreneurial mentoring and the implementation of a programme:
Is this new support relationship for entrepreneurs just trendy or has it a real impact for new entrepreneurs?
Why would an experienced entrepreneur give of his time to help a starting entrepreneur?
What are the key ingredients for the success of a mentoring relationship between 2 entrepreneurs?
What should an organisation wishing to use mentoring to support entrepreneurs put in place?
My answers are based on my latest research and sevreal diagnostics of entrepreneurial mentoring programmes in France and abroad. they highlight and summarize the best practices in programme implementation and in mentors' practice.
Do not hesistate to download and share this pdf file (and share your feedback and experiences):
100_day_growth_brochure
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Transforming Business Innovation Into Entrepreneurial Opportunities
- 1. University of Tehran Entrepreneurship Faculty Cornerstones of change :Revisiting and challenging new perspective on research in entrepreneurship education ElnazTarzamny Professor: DR. Arabiun
- 3. Deductive learning occurs when a student applies what others know.
- 8. Group mentoring : it’s optimum.
- 10. The selection process may involve several steps of examining the new business before final approval.
- 15. Unique outreach: identifying entrepreneurs, across a variety of fields, disciplines to work directly with students in the firm of a fieldwork.
- 16. Community building: building a collective group of entrepreneurs entrepreneurial students with advanced business skills to collaborate on issues related to the growth of entrepreneurs’ businesses.
- 17. Knowledge transfer: reciprocal relationship and knowledge sharing between the entrepreneurs and students.
- 19. Renewing methods
- 21. Although many of the issues discussed deviate from many of the traditional ideas of teaching entrepreneurship, they may be better suited to the changing demands of the economy and marketplace where complex problem and uncertainty are ever present.