Open 2011

Nifty assignments in entrepreneurship education

At Open 2011, Clif Kussmaul and Trish Boyles from Muhlenberg College held a workshop called Nifty Assignments in Entrepreneurship Education. The session was dedicated to finding good materials that educators can use in teaching entrepreneurship: assignments that are easy to adopt and adapt, relevant in many settings, thought-provoking, and fun for students and teachers. Here we present a list of the Nifty Assignments (NAs) that were presented during the workshop.

 

 

Elevator Pitch

Author
Dean Chang, University of Maryland
NA Name
Elevator Pitch
Summary
An Elevator Pitch is an overview of a product, service, project, person or other solution and is designed to just get a conversation started. It should make a meaningful and memorable connection with the audience and give some teasers that will entice people to want to get to know you better to possibly work with you, hire you, admit you to their school, etc.
For next class, prepare a 1-2 minute elevator pitch introducing yourself. 
·      Name
·      What do you want to study?
·      What do you want to do for a career?
·      Why is this course interesting to you?
·      What do you want to get out of this course?
·      Something memorable about you or that you’re particularly proud of
·      Anything else you’d like to add?
 
Remember:
·      Did you cover all topics? Use the above as a guideline for what to talk about, but you are encouraged to be creative and use your own format. 
·      Minimize “um”s and “uh”s (how many total?)
·      Were you memorable (in a good way)? A catchy introduction and wrap-up help
·      Make yourself as interesting as possible in those two minutes to help separate you from everyone else and get you admitted, hired, chosen on the team, etc. (and focus on what interests them)
·      Sound confident: eye contact and voice projection
·      Good posture; look comfortable, not awkward; don’t fidget
·      Be bold! Be brash! But don’t be boorish!
Record elevator pitches and post to Vimeo, YouTube, or other site for easy viewing by students. If no Flip or camcorder available, you can even use students’ camera phones to record them. 
Topics
communication, networking, marketing

The Newspaper Challenge

Author
Frances Mitchell, Innovation Academy, University College Dublin, Ireland, frances.mitchell@ucd.ie
NA Name
The Newspaper Challenge
Summary
Required: Today’s newspaper for each student. At least five hours in the day to complete the task.
Optional: Open the presentation with a clip from the film “Working Girl” (part where Melanie Griffith spots opportunity in a newspaper to work with Trask Industries). A fun way to allow students to see how the newspaper is a valuable tool.
Instructions:
  • Find an opportunity from today’s newspaper
  • Form into multidisciplinary teams

  • Create the most value possible from your chosen opportunity by using only what you have in your pockets/bag (document everything before leaving the room)
  • Return at the end of the day and make a three-minute presentation on the value that you created (any medium)
 
Students can then literally do whatever they want to create anything of value (depending on how they qualify value). In some cases there is only the potential of future value (i.e., a project that cannot be fully completed in the time-scale), but certainly I would expect that a good amount of research into the idea has happened.
Topics
  • Confidence in creative thinking--"turning problems into opportunities"
  • Opportunity recognition
  • How to translate ideas into value creation--what is value?
  • Evolution of innovative ideas in multi-disciplinary teams--valuing inherent skills

 

Audience
Any group of students. I have worked with multidisciplinary teams of PhD students (across all disciplines) and it worked extremely well. The aim is to get students to think beyond their area of expertise and see opportunities in everyday life. Ideally you would have multidisciplinary teams as it brings richer experience and skills to the table.
Strengths
Repeatability: The newspaper is a constantly changing medium, therefore this activity can be repeated ad nauseam without any cross-over.
It genuinely gets students thinking of opportunities and has them referring to newspapers (and therefore the world outside their research) on a much more regular basis.
Low work investment from lecturer/facilitator
No need for facilities as they can only use what is on them at the time)
Weaknesses
Time required to complete the assignment--ideally you give the students a full day.
You need to supply the newspapers (I arranged free newspapers from the Irish Times)
Usually helps if presenter has done it themselves and can present an example.
Variants
Could use the online version of a newspaper to supply "news" (though this may lead to students using the internet, which was not originally in their pocket)
Could be done by individuals, but the proviso being that they do something in an area that has nothing to do with their research (still much better if done in teams, as you share skill sets)

Transfer Map

Author
Susannah Howe, Smith College, showe@smith.edu
NA Name
Transfer Map
Summary
Team (or individual) activity for students to visually display the skills/knowledge/ attitudes that they will "transfer out" of that class and to their next endeavors. I usually have students do an individual assignment before class in which they identify their own transferrable skills and then spend one class period for teams to aggregate their collective transfer items and make a visual map (think concept map, but focused on transfer items, not concepts;
also picture markers, stickers, tape ribbons, other colorful art supplies...)
Topics
transferable skills/knowledge/attitudes, professional development
Audience
Intended for seniors about to graduate (works really well in a capstone course) but it could also work thinking about what transfers out of one course and into the next one. 
Strengths
·      Applies to many courses/contexts.
·      Gets students to think about how their current course learning extends beyond the course itself.
·      Facilitates team discussion about joint learning.
Weaknesses
Takes a whole class to complete; even better with a pre-assignment
Dependencies
Requires a basic explanation of a concept map and a short discussion of what is meant by "transfer" and "transfer map."  (Note, I intentionally don't give many instructions, so as to leave the activity fairly open for student interpretation.) See http://cmap.ihmc.us/docs/ConceptMap.html for a good overview and nice visual of a concept map.
Works best when students do a pre-assignment listing/discussing their future plans (after graduation or, if they're not seniors, upcoming courses/internships) and then their top transferable skills/knowlegde.
Variants
Could be done individually. 

DeBono’s 6 Hats: Innovating on the Common Water Bottle

Authors
 
Jonathan Weaver and Darrell Kleinke
University of Detroit Mercy Mechanical Engineering Department weaverjm@udmercy.edu
NA Name
DeBono’s 6 Hats: Innovating on the Common Water Bottle
Summary
DeBono’s fundamental premise is that there are six fundamental types of thinking, and thinking becomes too confusing if we try to think in all modes simultaneously. Thinking becomes more effective if we use one type of thinking at a time. This is accomplished by figuratively putting on “thinking caps,” one by one. If groups of people can think in a common mode, they can devise better solutions to problems at a more rapid pace! Consider the time wasted when team members aree not “on the same page”!
 
The class is introduced to the concept of Edward Debono’s six thinking hats in class during one 50-75 minute lecture period. The instructor wears the “blue hat,” quickly introduces each of the other hats and, in teams of four to five students, the class practices each hat while trying to come up with an innovation related to the common water bottle. 
Topics
Ideation/concept generation and team dynamics
Audience
Any class with design content or involving teamwork
Strengths
Students experience how following a structured process to ensure parallel thinking can greatly enhance team productivity. Free canned slides for this and other ideation techniques as well as technical entrepreneurship case studies available at http://weaverjm.faculty.udmercy.edu
Weaknesses
Requires a minimum of about an hour of class time. Instructor would do well to read Six Thinking Hats by Edward DeBono ahead of time--but should be able to get by based on examining the slides ahead of time.   
Variants
Could apply the technique to a different problem, such as the problem being addressed in the course. 

The Melting Pot

Author
© Michael S. Lehman, MD, MBA, 2011, University of Pittsburgh
NA Name
The Melting Pot
Summary
Students are asked to individually make a list of five things they enjoy doing, such as interests, hobbies and sports (five minutes). Participants then form into groups of three and share their lists of interests. Student then take one idea from each of their respective lists and blend them to create a business idea (ten minutes). 
For example, student one may have an interest in sports, student two an interest in architecture and student three an interest in writing. Their final business idea? A magazine focusing on the architecture of sports stadiums throughout the world. Or three students with interests in software design, chemistry and music propose a new product in which students conduct virtual chemistry experiments to popular songs…taking the science laboratory into homes…without the mess and with some entertainment! 
After providing these examples to the class, the faculty member circulates in the room to encourage and assist the students (ten minutes). The students then share with the entire class their three blended interests and the resulting product or service (ten minutes). Next, the students answer three questions in their group (fifteen minutes):
·      Who is your target market?
·      What is your competitive advantage?
·      What is your business name and associated logo?
The class concludes with students sharing their responses to the three questions, with the faculty member highlighting teaching points based on the responses (ten minutes).
Topics
brainstorming & creativity
Variants
This exercise can be extended to fill 90 minutes, or even two 60-minute class periods. Student learn the benefits of teaming with business partners that have different talents than their own, making the company’s competitive advantage more difficult to replicate. This exercise can be used for high school students, college students, and even adults! This lends to a discussion about target markets, and who the ultimate customer is for the product or service. Students can spend time actually creating a logo, tying in elements of marketing.

Back-of-the-Envelope Calculation

Author
Susannah Howe, Smith College, showe@smith.edu
NA Name
Back-of-the-Envelope Calculation (BotE)
Summary
Students have an individual assignment to do a rough calculation related to their project (or course or larger activity, etc.).  Emphasizes the need to do rough approximate calculations, making assumptions where needed. I have given students a few days to do it, but when I presented this at the 2010 Capstone Conference, someone suggested it could also be done with a very short (ten-minute) turnaround. I use it to get students diving into the technical depth of their projects early on, before they fully know the territory, but it could be used in other ways too. Main thing is that it is actually done on the *back of an envelope*--this constrains how much the students can write and also adds some humor. 
Topics
technical calculation, approximation
Audience
any--could be a whole course, could be a team on a project. Works across all years.
Strengths
·       Applicable to many courses & contexts.
·       Teaches students about the process and value of completing rough calculations/estimates.
·       Forces students to deal with unknowns and make assumptions.
Weaknesses
Needs some structuring to identify an appropriate back-of-the-envelope calculation. More advanced students can often identify and frame these themselves; other students may need more assistance.
Variants
·       Could be done over a period of a few days or as a 5-15 minute assignment in class or in a team meeting.
·       Could do a pre-activity with teams or a whole class to brainstorm possible back-of-the-envelope calculations that apply to their project or the current course material.  Then can divide up that list, assigning different calculations to different people.
·       Can return to the back-of-the-envelope calculations throughout the class; can also refer to the concept of BotE in the context of new calculations and students will better understand having done an initial one.

Just Do It: Accelerated Startup Exercise

Author
Trish Boyles, Muhlenberg College, tboyles@muhlenberg.edu
NA Name
Just do it: Accelerated startup exercise
Summary
Students work in teams to develop a startup idea that they can launch and begin to operate in one week. After one week, each team gives a presentation about their idea, their implementation, how much they earned and what they learned.
Each team is given an envelope with “startup” funds and asked to develop, launch, and earn money by implementing a business idea within one week. “Startup” funds can vary but need not be more than $5. Students are given no prior information about the assignment before receiving it and are given the following rules:
·      The team is not required to use any startup money,
but may use ONLY the startup funds provided in the envelope.
·      Any products/services conceived of and offered must be legal.
No laws may be broken in any part of the project process.
·      No person or animal can be harmed in any way.
One week later students give a 5-10 minute presentation discussing the following:
·       Description of the startup idea
·       The process of implementing the idea
(including obstacles and how the team overcame them)
·       The outcomes (what the team learned and what the team earned).
Topics
Teamwork, action-orientation, identifying an opportunity,
understanding a target market, bootstrapping
Audience
Undergraduate entrepreneurship or business students
Strengths
Students often think starting a business is some hidden magical process that they are not privy to; this activity shows them that starting a business comes down to making a decision to do it and acting on it.
Students generally encounter things they hadn’t anticipated and either have to adjust their business idea on the fly or give up. Either way, their presentation of what happened leads to great class discussions on everything from flexibility in business plans to faulty assumptions to ways of understanding the wants and needs of the target market.
Offers students a practical understanding of the concepts of “bootstrapping” and the importance of positive cash flow.
Weaknesses
Danger of students perceiving emphasis to be short-term profitability
Limited audience, applied bias
Variants
Create a set of criteria on which the “success” of each team’s business will be evaluated to guide the assignment towards a specific topic or set of topics for class discussion.
Give it a social entrepreneurship spin by having students make progress toward solving a social problem through implementing an idea within one week.

Shooting Videos to Discover Unmet Needs

Author
 
Jonathan Weaver
University of Detroit Mercy Mechanical Engineering Department
weaverjm@udmercy.edu
NA Name
Shooting Videos to Discover Unmet Needs
Summary
Begin by showing the class the selective attention test per this YouTube video. Note how many don’t see the person in the gorilla suit!
 
Each student must compile a ten-minute video basically of just passively observing people going about relatively typical activities - but knowing that the ultimate goal is to be able to identify possible unmet needs or new opportunities. The ten minutes could be one continuous segment or many shorter clips totaling ten minutes.
Each student reviews his or her video several times looking for unmet customer needs/opportunities. These could be fairly obvious or rather subtle--the latter being preferred. Opportunities could relate to difficulties/shortcomings associated with existing products or needs that a new product might address. The student submits
a list of opportunities identified and comes to class prepared to show a video.
A class session is devoted to watching each of the videos. For each video shown, each student is tasked with identifying as many unmet needs/opportunities as possible (except for the video's creator, who has already done so). We then share the needs the video's creator had identified and proceed to see how many additional opportunities the remainder of the class finds (typically many new needs are identified).
 
Grading includes the teacher's perception of how effective the video is at illustrating potential new opportunities, how many opportunities the student found in his/her own video, how many needs the student "missed" (i.e., that the other students found), and how many needs the student finds in the other students' videos.
Topics
Opportunity recognition, perception, customer needs analysis
Audience
Any class with design content or relating to customer needs
Strengths
Activity is fun for students. Students realize they tend to see things through a particular lens/filter, and so others see things they miss and vice versa. Students are forced to passively observe potential customers. Little prep time for instructor.
Weaknesses
All students must have access to digital video camera. 
Takes significant class time (depends of course on class size). 
Variants
Could assemble collection of "great videos" and watch them rather than have the students shoot the videos (although taking and analyzing the video is part of the learning process). Might try time lapse videos. For larger classes might have them work in teams or take the assignment off-line rather than watching them all in class. The video duration could also be reduced.

Golden Rolodex

Author
© Michael S. Lehman, MD, MBA, 2011, University of Pittsburgh
NA Name
Golden Rolodex
Summary
Building your network is important as you develop as a business professional. It is important to not only know a wide range of individuals from across different areas of expertise, but it is equally important that they know you, as well. For this assignment, you will begin to strengthen the breadth and depth of your professional network. 
For part one, you will identify five previously unknown individuals to be a part of your professional network. These individuals should include the following: a Pitt engineering student, a Pitt law student, a Pitt student from the health sciences, an individual working in the industry related to your business idea and an entrepreneur. After meeting these individuals face-to-face, record (in a place for your future reference) all of their contact information and a few bullets about their areas of expertise and interest (note: you will be utilizing your new network later on in the course). 
For part two, you will write a two-page paper (followed by the list and contact information/bullets describing your new network) that addresses the following:
·      How did you identify the individuals in your new network?
·      What techniques worked well?
·      What challenges did you face in meeting these people?
·      How were you able to garner information related to their areas of expertise and interest?
·      What have you learned that will help you in growing your network in the months and years ahead?
·      What did you learn in this process that will help you in your business career?
Grading (7% of course grade) will be based on quality of answers, application of what you learned to you and your business and presentation/grammar/spelling.
Topics
networking

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