Answer to Question #231965 in Management for Andile

Question

Apart from story-telling,in a grade of your choice, indicate how you would demonstrate your experience as a senior teacher in Economics and management sciences at Mutendwahothe high school. How will you use any four teaching and learning methods to train and develop entrepreneurs in the school? Which of the four methods do you regard as the best? Choose one and substantiate on your arguement.

Answer 1

Discussion

Economic & Management Sciences (EMS) is a subject that deals with the efficient and effective use of different types of private, public or collective resources to satisfy people’s needs and wants. It reflects critically on the impact of resource exploitation on the environment and on people. It also deals with the effective management of scarce resources in order to maximize profits. As a subject, Economic & Management Sciences enables a student to:

 

• Develop the basic skills and knowledge needed to manage one’s life and the environment effectively.
• Understand the basics of the country’s economy.
• Develop basic skills for running one’s own business, managing and recording finances and planning properly so that one can operate effectively and successfully within the wider economy.

Entrepreneurship is not predictable. Therefore, below is a portfolio of four complementary techniques for teaching entrepreneurship as a method rather than a process;

1. Starting businesses
2. Serious games and simulations
3. Design-based learning
4. Reflective practice

Each approach requires students to reach beyond primarily prediction-focused ways of knowing, analyzing, and talking—thus positioning them instead to create, apply, and act. However, among the four methods starting businesses is the most important as discussed below;

Starting businesses as part of coursework has become more mainstream over the past few years. For example, Babson College, started its Foundations of Management and Entrepreneurship (FME) course in 1996, requiring first year undergraduate students to start a business. The focus of FME is on opportunity recognition, resource parsimony, team development, holistic thinking, and value creation through harvest. The vehicle of learning is a limited-duration business start-up steeped in entrepreneurial thinking and a basic understanding of all functions of business.

Many business schools today have incorporated the real-world practice of business creation into their entrepreneurship curriculum. For example, the 2010 United States Association for Small Business and Entrepreneurship winner for model entrepreneurship course was Monmouth University for its capstone experience where students work in teams to start businesses. However, talking about a pedagogy of practice within the entrepreneurship method, is advocating for real-world venture creation courses to take place at the beginning, rather than at the end of entrepreneurship programs. This is suggested at undergraduate level, because students have little business experience and to truly develop empathy for the entrepreneur, one must experience new venture creation before he/she can study business management or other disciplinary areas.

Furthermore, students develop a level of insight and confidence from practicing methods for navigating unknown territories and from experiencing success and failure. Specifically, in first-hand observation students:

• Experience the ups and downs of entrepreneurship and learn about the sweat equity associated with a start-up.
• Gain knowledge of the importance of leadership yet struggle with finding and developing their own style.
• Practice entrepreneurship and through experience, learn about the power of human agency, yet effectively managing and utilizing human resources is more art than science.
• Feel defeat after making poor decisions and experience elation over small wins
• underestimate in hindsight the role of trust between managers and employees and learn delegation is not a choice.

On top of these five insights, students learn that the best opportunity in the world is of little value without a strong team that can execute. Such strength is derived from open and constant communication, challenging but shared goals, and the ability to adapt in uncertain environments.

Reference

Draycott, M., & Rae, D. (2011). Enterprise education in schools and the role of competency frameworks. International Journal of Entrepreneurial Behavior & Research.