Abstract
The new venture creation process is essentially different from the process of managing an established business. Scholars suggest that many current mainstream teaching methods and tools used in entrepreneurship education (EE) are rooted in classical economic theory and do not fully address the specific nature of new venture creation. They also point at a shortage of native EE methods and tools developed specifically for the early-stage new venture creation process. We respond to this challenge through (a) a careful scrutiny of one of the most popular EE tools—the Business Model Canvas and (b) a novel and native EE Experiential Pattern-Matching method to support and complement the Business Model Canvas (and other similar EE tools). We advance our theoretical understanding of experience-based learning in EE settings by embedding the Experiential Pattern-Matching method into a Dynamic Experiential Process Framework that assists entrepreneurship educators in developing effective curricula and improving individual- and team-based learning throughout the educational process of new venture creation.
Highlights
The new venture creation process is essentially different from the process of managing an established business
In order to effectively respond to these calls, we anchor our definition of entrepreneurship as “the performance of the process of becoming” (Anderson, 2005, p. 592), and we demonstrate that existing entrepreneurship education (EE) tools are insufficient to capture the experiential nature of this process
We propose a Framework that displays the vibrant interaction between the Experiential Pattern-Matching (EPM) method and current mainstream EE tools traditionally deployed during the new venture creation process
Summary
The new venture creation process is essentially different from the process of managing an established business. Scholars suggest that many current mainstream teaching methods and tools used in entrepreneurship education (EE) are rooted in classical economic theory and do not fully address the specific nature of new venture creation They point at a shortage of native EE methods and tools developed for the early-stage new venture creation process. We respond to this challenge through (a) a careful scrutiny of one of the most popular EE tools—the Business Model Canvas and (b) a novel and native EE Experiential Pattern-Matching method to support and complement the Business Model Canvas (and other similar EE tools). We propose a novel Experiential Pattern-Matching (EPM) method to resolve the shortcomings of the BMC (and similar educational tools) in the early stages of a new business venture. We conclude this article by discussing the theoretical value of our contributions to EE literature
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