Using SWAG Day to Teach Bootstrapping, Value Creation, and Effectuation: An Experiential Learning Exercise

Abstract

Bootstrapping is a critical entrepreneurial skill that emphasizes resourcefulness and creativity under resource constraints. This manuscript introduces an innovative experiential learning exercise, the “SWAG Day” assignment, designed to teach undergraduate entrepreneurship students how to practice bootstrapping. Through this activity, students use their resourcefulness and creativity to identify and acquire items or services that create value for their peers while working under imposed constraints. The exercise aligns with three primary learning objectives: fostering entrepreneurial thinking, recognizing and evaluating opportunities, and understanding the role social capital plays in entrepreneurial success. This learning exercise reinforces key entrepreneurial concepts such as value creation, effectuation, and networking. A debrief session further deepens students’ understanding of these principles by having them analyze their approaches and experiences. Student feedback highlights the exercise’s impact, emphasizing its creativity, challenge, and applicability. The assignment also provides insights into diverse problem-solving methods, creativity, and the significance of mutually beneficial relationships. By bridging theory with practice in a low-risk setting, the SWAG Day exercise equips students with essential entrepreneurial skills while fostering classroom and community engagement.