Comparing the approaches of two UK Universities to teaching Business Enterprise

1. Comparing the approaches of two UK Universities to teaching Business Enterprise IEPC 2010 – Harrogate Tuesday 9 November 2010 Nigel Adams B.A. (Hons), F.C.I.M. - University of Buckingham Joan Lockyer PhD - Institute of Applied Entrepreneurshipat Coventry University

2. Introduction Our objective is to present two universities’ approaches to teaching enterprise and entrepreneurship to undergraduate students. Buckingham & Coventry have designed & implemented undergraduate enterprise programmes during which students have the opportunity to start & run their own businesses, as an integral part of their honours degrees 2

3. The University of Buckingham Opened in 1976 and awarded a Royal Charter in 1983. Voted No 1 for student satisfaction in the National Student Surveyfor last 5 years. “Oxbridge” style teaching in small groups Excellent student staff ratio (1:10) A 3-year Honours degree in just 2 years (8 terms) Not the “Rich Kids” university. 3

4. Buckingham’s Approach BSc Business Enterprise conceived by Dean of Buckingham Business School in 2004/5. The Dean was previously at Babson College in USA - well known for Entrepreneurship. Undergraduate, not post-graduate degree. No similar programme was offered in UK. Buckingham’s small size & approach enabled the programme to obtain LTC and Senate approval & it was launched in January 2006. 4

5. How does the 2-year degree work? 5

6. BBE interests students who: Want to set up and develop their own business, at the same time as they study for an honours degree. Plan to make a positive contribution to a family business or small company, following graduation. Have flair, creativity & an entrepreneurial or “can-do” approach to business, which will be vital when working for any businesses in the future. 6

7. BSc Business Enterprise Year 1 - First Semester 7

8. BSc Business Enterprise Year 1 - Second Semester 8

9. Maintaining academic rigour, but also involving Entrepreneurs All BBE courses are taught at the same level as the Business School’s other business degree courses. 7.5 unit courses are used, so that all the important subjects can be covered with the more practical work. Different/appropriate forms of assessment are used, e.g. Quarterly Business Review Reports. External entrepreneurs have replaced academics for the two “Innovation and Entrepreneurship” courses. 9

10. Innovation & Entrepreneurship 10

11. “Seed-corn” Capital & Other Support All BBE students “pitch” for up to £5000 “seed-corn” capital to start and run their businesses. Funding was originally provided by Legal & General and Mr John Desborough (a private donor). When the BBE’s businesses are running, they can operate from “Buckingham Knowledge Base”. External business people and entrepreneurs mentor and support the students throughout the programme. 11

12. What problems have we had? Time taken & cost of promoting the programme. Finding and attracting appropriate students. Student workload & drop-out rate. Timing & success of courses during programme. Costs and time involved with administration of students’ companies (Companies House & HMRC) 12

13. What has been positive? Personal development of the BBE students. Positive reaction to the programme from a wide range of people, though not all teachers approve. Support of colleagues throughout the university. Widening participation in higher education. Involvement with the business community. Successful employment of BBE graduates. 13

14. What have we learned from BBE? We found that students preparing a business plan and a “pitch” presentation in the first semester was successful. A theoretical approach to innovation & entrepreneurship did not result in the achievement of the learning outcomes required. Quantitative Methods, plus the need to improve English language and presentation skills are vital in early part of programme. A broad range of subjects required to cover all the topics that students will need for their businesses & academic qualifications. A “light” touch is needed when mentoring, don’t say no! 14

15. Examples of students’ businesses Andre Roberts - Idigi Frame Media Ltd Sebastian Musil & - Podnik Ltd Alec Greenwell Iuri Santos & - Wines of Portugal David Rios Toyoaki Kobayashi - Discount Advertiser 15

16. Coventry’s Approach 16

17. BA/BScEnterprise & Entrepreneurship Philosophy behind the Coventry Programme: Large numbers of students were running or wanted to start businesses. People felt they need to choose between academic credits and starting a business. 17

18. BA and BScPathways The degree has 3 “pathways”: Business (BES) – BA EE Information Technology (EC) – BSc EE Engineering and Manufacturing (EC) – BSc EE 18

19. Timing of Modules Programme not static, but very much in evolution Objective is to take the student on a journey which aims to respond to students individual needs and capability. The modules are currently ‘long and thin’, but may change to short and fat next year. 19

20. Structure and Credits 20

21. BA Pathway – Year 1 Business 21

22. Year 2: Business Planning Research Methods Plus: Business Management and Decisions Making E-Marketing Business Accounting Year 3: Financial and Legal Issues for Business Business Relationship Management Performance, Management and Growth Plus a choice of two from: Business Analysis (dissertation) International Business Logistics Business

23. “Seed Corn” Capital A £1500 scholarship, renewed annually and awarded to students demonstrating excellence in the area of enterprise. SPEED Competition – students can win up to £4000 worth of support to develop their skills and business idea (open to all students). Coventry University Enterprise Trust - students can apply for loans of between £5000 and £10,000, exceptionally up to £30,000. 23

24. External Organisations Coventry Means Business and Students in Business - joint initiative between IoD and SiB, enabling students to be paired up with experienced business directors. External experts and entrepreneurs act as visiting and guest lecturers, covering for example: intellectual property, commercialisation; creativity. Placements and live case studies are used to help develop students skills. 24

25. Support Activities Integrated pre-incubation support – such as hot-desks, mentoring and coaching, networking activities. Business support services including: innovation management, manufacturing measurement, design and marketing support. Research Institute; Creative Enterprise; Health Design Technologies; Serious Games Institute. 25

26. Problems Encountered Managing the pace of development to keep all students engaged – some progress quicker than others. Not all ‘entrepreneurs’ are entrepreneurial. Drop out rate – was problematic, but getting better (more a function of smaller numbers). Working with other Faculties already, but room for improvement. 26

27. Lessons Learned Can’t stand still – constant evolution. Activity, but also can’t neglect knowledge. Make sure that the experience is authentic. Balance between mentoring, money and know-how. 27

28. Proposed Changes Moving some of the modules from the Faculties to IAE. Business placement at each level of the Degree. Live case studies – working with or in ‘others’ businesses Recognition that business start-up shouldn’t be the only goal. One structure for all pathways is questionable. 28

29. Questions for delegates What questions and comments do you have about these two programmes? Have any of you started similar programmes? Have those who run similar programmes had the same or different experiences? Do you think that there is a future for these types of programme? What can we “take-away” from this discussion? 29