By studying entrepreneurship and innovation, you can gain the basic knowledge needed to create a business, avoid common mistakes, present ideas more effectively, validate your product, develop a strong business model, and set yourself up for success in a field where failure is common. Learning entrepreneurship is like taking a mini-course in business. It's more than just a business plan. The four basic functions of management - planning, organizing, directing and controlling - should all be taken into account when starting a business.
An entrepreneurship class can teach you how to raise funds, organize your financial structure, manage growth, understand the role of venture capitalists, value a company, make acquisitions and create strategies. In short, it covers a wide range of business topics from strategy to finance, accounting and marketing. An entrepreneurship teacher may have experience in business education (but it's not essential). What's more important is that they are willing to adopt a new way of teaching.
Students need to develop skills that will help them innovate, lead, collaborate and persevere; that's why entrepreneurship is so important for them. As new challenges arise that need to be solved and the world becomes more globalized, teaching entrepreneurship is more critical than ever as students will need to develop an entrepreneur's skills to solve complex problems creatively and navigate ambiguity with ingenuity. As they enter adulthood, young people need confidence and tenacity to turn life's challenges into learning experiences; this is why entrepreneurship is so important for students. The content and skills taught in entrepreneurship classes - such as creating and testing a new business concept - help students gain confidence as they continue their education and explore potential career paths.
Although modern MBA programs offer a range of entrepreneurship programs from formal courses to startup competitions and incubators, there is still skepticism around the idea that academics can teach entrepreneurship in a classroom. However, many schools believe there is still a place for formal education in the world of entrepreneurship and have taken steps to update their offerings to meet the needs of today's students. The Shari and Ed Glazer Center for Entrepreneurship and Innovation in Marlborough combines engineering, digital arts, robotics, media, academic research and entrepreneurship to promote academic excellence, leadership skills and confidence. In addition, developing the imagination, disruption and counterintuitive action necessary for effective entrepreneurship generally does not fit into the typical curriculum of a business school defined by abstract analytical models and precise calculations.
Some business schools have pioneered new teaching models designed to teach entrepreneurship more effectively by focusing on “implementation” or leveraging existing resources to take action. If you think an entrepreneurship-focused education might be the right choice for your child, there is no better place than the Center for Entrepreneurship and Innovation in Marlborough.