Tuesday, October 8, 2013

Week 2: Development and Management of Entrepreneurial Businesses

The second session provided a brief recap of the prior week’s overview of the module’s layout. A brief discussion covered the way in which the course would focus on the development of entrepreneurial opportunities and entrepreneurial skills through active learning, emotional involvement, personal communication, and creativity. The module lecture focused on the growth lifecycle of entrepreneurial businesses and the role entrepreneurs play in the development and management of small and medium enterprises (SMEs).

The session then changed its focus to preparation for the first assignment. Students were given the task of promoting the University of Worcester, focusing on its activities and opportunities and engaging the public, at a pop-up shop in Worcester’s main shopping centre situated in the city centre. Students were encouraged to think about University aspects which could be patronized by the public, e.g., the joint university-public library, the University museum, and the Worcester basketball team, rather than on the University’s academic aspects. Students were then asked organize themselves in groups of five, discuss the University activities their group would focus on, and establish their availability for time slots to run the pop-up shop. Each group was asked to set an objective as to how they would measure their performance. Finally, each group was asked to identify the resources they would need to operate their shop. 

The overall aim of the session was to make students aware of possible enterprise paths, to understand the management process of SMEs, and to understand the objective-setting process within SMEs. It also sought to set business objectives for the first assignment and to help the instructor plan for appropriate resources for the implementation of the first assignment.
 

Extra guidance was necessary to help some groups develop their objectives. Some groups struggled with finding ways to actively engage with customers (rather than simply disseminate information).  It was clear that students were not used to practical exercises—they had many questions and were reluctant to ask for resources to run their shops. It was necessary to prompt students both to think creatively about what materials they would like to use to promote the University and to ask for those materials. Overall, most of the students successfully found a niche they could promote and left the session with a greater understanding of the first assignment. 

Click here for more information about the project. 

Click here to view the lecture slides.

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