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How to Grade Student Entrepreneurial Skills?

It can be challenging to identify if students are ready to become tomorrow’s next prominent entrepreneur in this new, fast-moving world where everything has seemingly already been invented. Some may think that because they don’t know the ins and outs of the modern economic world, they are unfit to be business people—however, entrepreneurship and innovation span many fields. To gauge one’s ability to become a future tycoon, educators must understand every student’s personal, interpersonal, creative, and technical characteristics. Anyone can be hard-working, a business person, and a responsible leader of tomorrow. Educators play a critical role in molding the innovators of society. And entrepreneurship education can help bolster students’ creativity and intelligence. Additionally, teachers help gauge where they are struggling, need help or inspiration, and provide experiential learning activities to help their students innovate new entrepreneurial skills. Personal Entrepreneurial Skills The world of business entrepreneurship and management can often be a complex, harsh environment to traverse. Having a solid moral compass, values, and an innovative outlook can differentiate between those who “make it” and those who don’t. Optimism, initiative, drive, persistence, risk tolerance, and resilience are invaluable virtues for solid entrepreneurs. The best way to identify and evaluate a student’s entrepreneurial skills is to immerse them into live projects, experiences, demos, or interactive tests that prompt them to respond in multiple ways. Business simulations, group exercises, job shadowing, and internships are all great ways to observe how students act, react, approach risks, handle failure, and how their mentality shapes their actions. While it is important to be well-rounded, interpersonal skills often separate the ordinary and the extraordinary entrepreneurs. Leadership and motivation, communication, negotiation, and ethics are huge green flags in business leaders. Interpersonal Skills One of the best ways to analyze a student’s interpersonal skills to the fullest, as one might assume, is through interpersonal interactions. Have students interact with their classmates, educators, or peers in multiple ways related to the numerous skills they would practice in the real world. Have them observe the relationships goals and outcomes have. Encourage learners to be the leader, think creative, and experience the importance of entrepreneurship firsthand. Student communication is paramount. Presentations, communication exercises, communicating complicated topics to the uninitiated, and their ability to prioritize, listen, empathize, and form relationships are tried and true methods. Furthermore, both logical approaches to relationships and emotional intelligence are critical skills in the world of entrepreneurship. Internships,

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student using a simulation

5 Reasons Simulations Can Replace Textbooks in Online Classes

Is online learning better than traditional words-on-a-page style learning? New advances in technology allow us to experiment with innovative teaching solutions like ebooks and digital classrooms. However, these online education trends, once utilized to their fullest potential, can be e-learning revolutions. One of the most notable new examples of e-learning technology is business simulations. What is a business simulation? Business simulations replicate the intricacies of real-life business environments in a virtual setting. Everything from the decisions users make to the math they use to solve financial and entrepreneurship obstacles will shape what happens in the virtual environment. The simulations and scenarios are also highly customizable, allowing students to immerse themselves in almost any location; even a casual marketplace business simulation is possible. This technology-based learning tool is rapidly replacing textbooks in economics, business, and financial classrooms everywhere, and there are five main reasons why. 1. Business simulations create more engaged learners It is no secret that educators everywhere are using technology in the classroom to enhance learning and teaching. Business simulations go to great lengths to create realistic, interactive, and detailed environments that can be used to practice, learn from, and test a variety of experiences that wouldn’t be possible in traditional classrooms. Educators can also tune and adapt the business simulation to students’ strengths and weaknesses to wade away from the cookie-cutter learning approach and actively train various skills in various contexts. You can’t do that with a textbook! 2. Simulations empower learners to think critically Typically, in traditional classrooms, problem-solving and critical thinking are difficult to employ effectively. Textbooks and homework packets often attempt to re-create the complexities of a realistic scenario in just a few words. Conversely, business simulations are structured to make every question, answer, decision, and calculation impact the outcome of the scenario. Based on what learners do, they can observe how their actions affect others and their effect on the result. Allowing learners to follow the cycle of their efforts in real-time strongly encourages reflective learning, a learning style in which learners consciously challenge their thoughts and solutions to identify if they are approaching solutions intelligently. Creativity and critical thinking are cornerstones that modern business simulations implement at every turn. 3. Simulations provide context and perspective Business simulations apply the lessons students learn in the classroom and implement them in an authentic setting. Students can then draw connections between the concepts they learn and

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woman starting a business

First 10 Things You Should Do When Starting A Business

So you have an idea for a mean lean startup. Where do you go from here? How do you grow your business? How do you know your idea will sell? Are there any myths of entrepreneurship you should know? In general, you might be wondering what do when starting a business. Becoming the owner of a startup is a very difficult process, but this guide is here to help you succeed at growing fast. 1. Find your “why” How do you know an idea will sell? Is it solving a problem? Making something easier? Inventing a new way of doing something? Ask yourself: why does this product exist? How did I find these ideas for starting a small business? Are you passionate about it? Whether you’re starting a business with no money or millions, creating a product without believing in it is a sure path to failure, so make sure that you’re down for the ride before you hop on. A startup is a very special type of business. You aren’t just looking for an idea that can grow over years, you’re looking for quick, explosive growth so you can disrupt your industry. With that being said, are you disrupting your industry? If you don’t think you have a revolutionary idea, chances are it won’t be the result you want. 2. Find a market Ask yourself these questions. Is there a desire for your product or service? How many people would be interested in your offering? What is the target economic class? Where do your customers live and where can your startup reach? How many similar options are already available to consumers? What do potential customers pay for these alternatives? Two words that go hand in hand are entrepreneurship and innovation. Make sure you can see where you innovate. As mentioned before, if you aren’t disrupting your industry the growth potential will not be high. Even if you can come up with answers to these questions, it’s always better to get many, many opinions. This is an essential part of the steps for starting a startup, as you need customers to grow. How do you do that? With market research! Send out surveys to friends and family, and even strangers about how useful they’d find your product. The more responses the better. If most responses are negative, it’s probably a good idea to rethink your product. But if people love

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student working hard

5 Ways to Improve Time Management as an Undergrad

Poor time management skills cause students to cram at the last minute and spend their Sunday nights wishing they had started their assignments earlier. It’s a hard habit to beat and won’t be fixed overnight. In reading this article, you are one step closer to building these good habits and managing your time in a way where you are in control of your time instead of racing against the clock to meet a 11:59 pm deadline. “Empirical evidence suggests that effective time management is associated with greater academic achievement” Adams and Blair 1. Plan your Week Without a set plan at hand, it can cause students to feel overwhelmed with their task load and stress about meeting deadlines. Plan out your week in advance by using a planner, calendar app, or google calendar to set priorities each day and make the most of your time. It’s important to write down priorities since it holds you accountable for your deadlines. Remember to not overwhelm yourself. Assign a reasonable amount of work and don’t give yourself more than youcan do. It’s likely that you will not complete the task and cause you to be behind schedule. Consider scheduling your work during the times of the day where you are most productive. If you write better at night, schedule your English assignments during that time. Plan out your social time and any daily chores that you need to get done. Managing other responsibilities outside of studying is important as well. Make time for leisure but be sure to stick to your schedule. 2. Set Goals Consider the goals that you want to accomplish during the term and be sure to implement them within your schedule. When creating your goals you should follow the S.M.A.R.T. goals guideline. Specific Measurable Attainable Realistic Time-Bound An example of a SMART goal is, “I want to finish reading chapter 1 of my business textbook by Friday night” or “I want to attend 5 club meetings by the end of this term”. Remember to prioritize your most important goals and hold yourself accountable for meeting them. Consider vocalizing your goals to a peer if you don’t think you can hold yourself accountable. The more you put off a goal, the more likely it will never be accomplished. 3. Time Limits on Tasks Spending time on tasks but not working efficiently causes time to be wasted. Therefore you should set

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