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Entrepreneurship and Innovation’s Role in the First Year Experience Presented by J.R. Ratliff and Patricia Robinson Zayed University
What is Innovation Anyway? • The process of translating ideas or inventions into goods or services (BusinessDictionary.com, n.d).
What is Entrepreneurship? • The capacity and willingness to develop, organize and manage a business venture along with any or its risks in order to make a profit (BusinessDictionary.com, n.d).
Quiz • What is the total contribution of SMEs to Dubai’s gross domestic product? • 50% • 40% • 30% • 20%
QUIZ What per cent of the total work force in Dubai do SMEs account for? A) 61% B) 42% C) 31% D) 19%
Why is entrepreneurship important to Universities in the MENA region?
Plan for Today • How the course was developed • Learning outcomes and first year experience • Who we taught • What we taught and how we taught it • What we learned • Where we are going from here
Course Creation • Mandate from the Office of the Prime Minister • University Faculty Committee • Departmental Leadership • Piloting the course (two semesters)
Who We Taught • Female and Male Traditional college Aged Students • Second semester in General Education • Female Students: Limited to no experience in Workforce or entrepreneurship • Males Students: Some work experience, but limited in entrepreneurial sectors • All ESL Learners
Why Advisors? • Leadership Development • Identity Development • Career Development • Team Work • Connection to Students
Course Description • Provide a general introduction into the concepts and principles of E&I • Help students develop an understanding of E and its connection to the culture and economy of the U.A.E. and how innovation drives E.
Course Description Cont. • Encourage creativity, civic responsibility, ethical decision making and critical thinking skills, leading students being prepared to take their places as members of an entrepreneurial oriented workforce.
Syllabus Topics • What is Entrepreneurship? • Identifying opportunities/innovation/the creative process • Feasibility Analysis/Business plans • Resources and support for Emirati Entrepr • Financial planning, securing capital • Marketing Strategies/elevator speeches • Business models
Course Projects & Assignments • Quizzes 10% • Entrepreneurial Identity Papers 10% • Midterm Exam 20% • Entrepreneurship Group Project 30% • Final Exam 20% • Course Engagement 10%
Group Project Each group worked together to: • Generate a unique start-up idea with a UAE focus • Research the demand for this business or service • Design a budget with evidence to support the potential expenses and income • Design marketing and promotional materials • Identify the ways in which each group member can best work to make this idea a reality.
Project Deliverables • Class presentation (15 – 20 minutes) Business concept, need, budget, marketing • Portfolio Business Plan: proposal, market-need,budget Marketing Plan Copy of final presentation APA Reference List and copy of sources used • Evaluation and Reflection Individual and group evaluations Reflection: relationship E. to future major
Course Learning Outcomes • Clarify that everyone has the potential to be entrepreneurial, and understand the importance of entrepreneurship on the UAE’s economic growth • Demonstrate knowledge of E&I as a cultural and economic concept from global, regional and local perspectives
Course Learning Outcomes Cont. • Apply general concepts of E&I to identify opportunities of personal career interest. • Demonstrate the ability to work as a member of a group to develop a plan for a potentially viable entrepreneurial enterprise • Determine and effectively communicate causes of success and failure in E&I
What we learned from the pilots: • Content heavy • Vocabulary difficult • Not focused on faculty strengths • Limited student experience • Students have creative ideas • Students knew about Entrepreneurs—especially local ones.
Teaching Challenges • Strong focus on Entrepreneurship—not innovation • Balancing mandates with student needs • Faculty knowledge of content • Faculty buy-in of content
Stanford Model Stanford’s E&I class is composed of three modules: • Module 1: Design Thinking • Module 2: Entrepreneurship • Module 3: Growth and Leadership
Stanford Course Evaluationand Grading Team Project 1 20% • Design Thinking in Practice Team Project 2 20% • Opportunity Analysis Project Personal Business Plan 40% • How E&I could play a role in students’ personal and career paths Class participation 20% • Attendance, punctuality and contribution
References BusinessDictionary.com, (N.D.) Entrepreneurship. Retrieved February 4, 2016, from http://www.businessdictionary.com/ definition/entrepreurship.html#ixzz3zAgosgsB BusinessDictionary.com, (N.D.) Innovation. Retrieved February 4, 2016, from http://www.businessdictionary.com/ definition/innovation.html