What I learned when I took an entrepreneurship class at age 14
by Pau Pavón
Last year, I made one of the best decisions of my life.
At school, I had to choose one of three subjects: French, classic culture, or Entrepreneurship. I didn’t know what the last one was all about, so I joined in.
I was told it would be something “about business” and stuff like that. It sounded good, but nothing too exciting. Oh, was I wrong: it turned out to be awesome . We had this class twice a week, and I remember looking forward to it every single day.
The goal of the subject, ultimately, was to build a project or a service that answered a need in society.
Before and while doing that, we learned some (very useful) concepts which are essential to setting up a business, like defining the value proposition(s), evaluating costs and revenue streams, and so on. Overall, we learned how to make our own business model canvas, which I now believe to be key when building or trying to understand any business.
Despite the usefulness of this knowledge, that wasn’t the best part. What ended up being better — way better — was what I would learn on my own.
As I said, taking the class itself was great. But I wasn’t satisfied with what I was taught in it: I wanted more. I began googling and youtubing (is that even a word??) and eventually got really, really interested in entrepreneurship.
And that’s really the point I want to make in this article. Entrepreneurship is a passion for a lot of people, just as writing, engineering, sports, and art are for others. So I’ve been wondering: why isn’t it a subject that most schools teach? Not only may you find your passion, but entrepreneurship classes come with plenty of other benefits as well.
Here are some lessons I learned, both from my class and from working through problems on my own.
Entrepreneurship enhances creativity and boosts innovation
Being creative and innovative is something inside ourselves that needs to be developed. It’s only through putting these abilities to work that you can improve them. It’s undeniable that entrepreneurship requires both skills, so they’ll get used and improved along your way.
You learn to listen to others and value their ideas/points of view
Working with your team in order to get something done is essential. People naturally excel in different subjects. If you accept that fact and learn to use it to your advantage (the team’s advantage), the end product, service or whatever project you’re working on will turn out really well.
You get to think about the problems society is facing today
When choosing what we wanted to develop, we had to find a need or a problem in society that we wanted to solve. It’s very likely that you don’t think about this every single day, and trying to do so can even be difficult at first. Once you get into the flow of it, though, you start to realise that there are tons of things that can be solved or improved. You also become aware of a lot of problems you hadn’t ever thought about.
Your team needs to chase an end goal
Combining the above three, you finally set yourself and your team an objective and start working towards it. I believe that this is essential, not only in business/school related matters but in life in general. Having clear goals you’re passionate about makes it easier to realise your dreams and fulfill your aspirations in any field.
And, at the end of the day, that’s what I think entrepeneurship is about. It’s about making other people’s lives better while you improve yours as well. It’s about giving, receiving, hearing and being heard, and, overall, loving the work you do.
I hope you liked my story, and I’d really like to read your opinions on entrepreneurship being taught at school. Thanks for reading!
If this article was helpful, share it .
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Lessons What I Have Learned in My Entrepreneurship Class
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5 Valuable Things I Learned In My Entrepreneurial Strategy Class
By Stephanie L
Sponsored by Tsinghua University
Entrepreneurship is one of the most in-demand MBA specializations.
In the last three years, 25 percent of general management education candidates plan to pursue a career in entrepreneurship, according to a report by the General Management Admissions Council (GMAC) .
A career in entrepreneurship is simultaneously challenging and rewarding, and there’s no set formula for overnight success, just sheer hard graft, drive, passion – and a good strategy.
While the number of venture deals and capital invested in startups continue to rise, today’s competitive market sees more start-ups failing than succeeding and there’s no way of knowing whether you’ll be one of the lucky ones.
This is why Tsinghua University’s Global MBA’s flagship MIT-Tsinghua Entrepreneurial Strategy course is an action-oriented course, designed to enhance students’ understanding of core strategic challenges and equip them with the appropriate framework for developing and implementing entrepreneurial strategies overtime.
The three-month sandwich course is led by entrepreneurship professors, Scott Stern and Professor Pierre Azoulay from MIT Sloan School of Management in the US, and Professor Gao Xudong, from Tsinghua University School of Economics and Management.
Here are what some Tsinghua University Global MBA graduates had to say about their experience.
Strategy is just as important as having a good business idea
Professor Scott Stern, Professor Gao Xudong and Professor Zhang Wei with MBA students Image credit: Tsinghua University
“The greatest challenge of innovation-based entrepreneurship is not the idea itself, but the idea’s commercialization and execution. Strategy, after all, is fundamentally about making choices among different paths,” said a former Global MBA student at Tsinghua University.
When it comes to gaining a better understanding of what makes a strong entrepreneurial strategy, competition, customers, technology, and identity are the four key components to consider, according to Professor Stern.
The entrepreneurial strategy framework goes beyond considering day-to-day matters
While entrepreneurs might obsess over day-to-day issues, former International MBA graduate Saman Farid considered the limitations which entrepreneurs face and how the entrepreneurial strategy framework has shed light on dealing with such matters that come with being a successful entrepreneur.
He said: “The framework taught in this class has helped me to view things from a new level of altitude – company positioning, customer selection, efficient use of limited resources, collaboration with incumbent etc.
“Thinking through these will mitigate the danger of trying to boil the ocean in product and market development,” he added.
The world has countless problems, or it has countless opportunities
Professor Pierre Azoulay teaching on the MIT-Tsinghua Entrepreneurial Strategy course. Image credit: Tsinghua University
Entrepreneurs are typically open-minded and enjoy finding opportunities and solutions where others might not.
In recent years, retail, education, and health have been among the sectors attracting the most early-stage entrepreneurial activities in China. Faced with a rapidly-changing business landscape and increasing globalization, it’s important that students become “attuned to the issues of competitive strategy” said Azoulay.
Gravitating towards issues in society which necessitate innovative and creative solutions is a powerful move. Almost half (42 percent) of start-ups fail as a result of misreading market demand, while 14 percent of start-ups fail due to not considering their customers’ needs.
For example, in 2017, it was found that US healthcare startups were the strongest industry, bringing in $36.6 billion in revenue.
What’s more, with the university’s ideal location in the heart of the bustling technology hub of Zhongguancun (renowned as China’s very own Silicon Valley), students are empowered as they find themselves surrounded by a unique caliber of businesses, start-ups and ventures.
How to develop effectual reasoning
“The course itself was not only a valuable academic experience but also, perhaps more importantly, a chance to more tangibly bridge the opportunities before us in the present with the inevitable demands of the future,” said Tim Hesler, a Global MBA Tsinghua graduate.
Critical thinking is key
Professor Stern with MIT-Tsinghua Entrepreneurial Strategy course students. Image credit: Tsinghua University
“As an aspiring entrepreneur myself, I found the course to be especially beneficial in preparation for my post-MBA path. The content was not simply a rehashing of conventional entrepreneurial wisdom, but instead it presented fresh frameworks through which to consider both age-old and emerging challenges and decisions,” said Tim.
Another Global MBA graduate is grateful to be able to look at both sides of the coin when it comes to not just learning how to succeed, but also how businesses fail – and what can be done to avoid following the same fate.
“As a former startup employee currently interning at a seed-stage VC, I found this course especially helpful for thinking more critically about why some companies succeed while the vast majority fail,” they said.
“Too often we praise companies for their innovative ideas, but forget to consider that the road to success was never straightforward, and never guaranteed.”
This article was originally published in September 2020 .
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As the Head of Sponsored Content for TopMBA.com and TopUniversities.com (until September 2021), Stephanie created and published a wide range of articles for universities and business schools across the world. She attended the University of Portsmouth where she earned a BA in English Language and an MA in Communication and Applied Linguistics.
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COMMENTS
Throughout my studies of entrepreneurship, I have come to understand the complexities and rewards associated with starting and managing a business. Initially, the idea of becoming an entrepreneur or an intrapreneur seemed daunting; however, this has transformed into excitement and possibility.
What I learned when I took an entrepreneurship class at age 14. by Pau Pavón. "A workplace with countless rows of desks." by Alex Kotliarskyi on Unsplash. Last year, I made one of the best decisions of my life. At school, I had to choose one of three subjects: French, classic culture, or Entrepreneurship.
Answer: Entrepreneurship involves taking risks, innovating, and creating value. It requires resilience, adaptability, and a willingness to learn from failures. Successful entrepreneurs often have a clear vision, a strong work ethic, and the ability to inspire and lead others. They also understand the importance of market research, customer ...
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LESSON LEARNED #1. Entrepreneurship has a transformational potential to solve the greatest problems faced by humanity. What is missing is a stronger sustainability driver, capable of embracing ...
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A social entrepreneur identifies a problem with a social or community focus, a concern for quality of life, or concern for our entire planet's health (you will learn more about social entrepreneurship in The Ethical and Social Responsibilities of Entrepreneurs). One such person is Angad Daryani, a young serial inventor. Daryani left school in ...
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Thus, societal changes progressively have an influence on global and national developments. 5 Economic Benefits of Entrepreneurship; Students that enroll in entrepreneurship programs learn fundamental life skills including problem-solving, creative thinking, and cooperation.
Much of the popular literature on the subject focuses on teamwork, passion, creativity, and other soft skills. Still, a lot of hard behavioral evidence shows that the most successful entrepreneurs ...
Answer: Entrepreneurship is a rising trend in the business industry. As we can see in social media, the number of rising entrepreneurs are increasing. Many venture into selling and reselling of clothes, some into selling and reselling of gadgets and other necessary stuff needed by the public. As this number of entrepreneurs continue to rise ...
Entrepreneurship class gave me an opportunity to put forward my idea and work on it. Due to the corona virus pandemic we had to study via google meet. Classes started to get more interactive with ...
Strategy is just as important as having a good business idea. "The greatest challenge of innovation-based entrepreneurship is not the idea itself, but the idea's commercialization and execution. Strategy, after all, is fundamentally about making choices among different paths," said a former Global MBA student at Tsinghua University.
Take-away: Do what you love. Make things. Pursue your hobbies. You don't always need to have a plan about where it's going to lead, or be good at it, just as long as you enjoy the process. 4. Believe in yourself. Sarah Wood is co-founder of Unruly Media, the world's leading video advertising platform.
The Dynamic Landscape of Entrepreneurial Education. Entrepreneurship majors are equipped with the skills to construct, promote, and manage their ventures, channeling creativity and energy to enhance productivity in existing businesses. A pivotal aspect of entrepreneurship programs is the emphasis on developing a comprehensive business plan—a ...
Entrepreneurship is simply the process of designing, launching, and running a new business or enterprise. It can be done by anyone, regardless of their level of experience or education. Many people think that entrepreneurship is all about starting new businesses, but that's only one aspect of it.
Brainly User. report flag outlined. Answer: Being an entrepreneur should not be just about making money, but also making a difference. It should be about making life better not only for ourselves, but for others as well. ... Entrepreneurs are leaders. This means they should be able to impart positivity with their employees.
It is the freedom to start, grow, and cash in a new business. Most of the extravagant millionaires of today build up their wealth in this way. An entrepreneur is someone who has the ability to build and develop his own business. In today's fast paced world of business, many people chose to work for themselves.
REFLECTION IN ENTREPRENEURSHIP. Entrepreneurship is being taught to serve as a training ground of students, and to be able to learn what the real situation in the world of business is. Also so serves as a preparation in any related course that we may take when we enter college.
Answer. Sure! Here's an essay on entrepreneurship: Entrepreneurship is the process of creating, developing, and managing a new business venture with the aim of making a profit or providing a new product or service to the market. Entrepreneurs are risk-takers who use their creativity, innovation, and vision to identify opportunities and develop ...
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Entrepreneurship is the course. Reflect on one or two specific experiences with entrepreneurship during which you or your team either used or failed to use some of the processes or structures, outlined in the class. Be specific, explain the situation, explain what you did and how it was similar or different to what we have learned in the course.
What i have learned entrepreneurship See answer Advertisement Advertisement Christinahida Christinahida You will learn how to budget money Advertisement Advertisement New questions in English. Short story english boy grade 11 student 1. What is the significant role of academic texts to students' learning? ... Brainly.ph. PL: Brainly.pl ...