An Experiential Learning Approach to Teaching Business Planning: Connecting Students to the Real World

Abstract

In recent years, a number of business schools around the world have moved from traditional lecture-style teaching to other learning approaches in imparting skills. In this chapter, we present the results of an evaluation of a business planning course that departed significantly from the traditional lecture-style teaching approach to a more student-focused experiential learning approach in order to acquire entrepreneurial knowledge and skills. In doing this, we provide a description of the content and delivery of the course and then examine its impact on the learning outcomes for students. Using a survey method, we collected data from 161 final-year bachelor students to gauge the success of the course. The findings indicate that the content and the delivery mode of the course are appropriate. In addition, students report gains of relevant entrepreneurial knowledge and skills which can assist them in setting up and managing a business. However, the learning gains in the finance area are comparatively limited, suggesting the need for a different type of pedagogy for this particular functional area of business. The findings from this study have implications for curriculum designers, career planners, and potential entrepreneurs.