Abstract
In this paper, we posit experiential learning projects in business as a valuable alternative to internships to meet the new AACSB standards for accreditation. While internships have traditionally been used as the main method to provide hands-on learning experiences for students in business schools, their effective implementation imposes stringent demands on faculty, curriculum, and program resources. The pedagogical and administrative benefits of experiential learning projects (ELP) are analyzed using the Kolb model and the literature on learning. We illustrate the versatility of the ELP learning tool by describing two very different applications currently in use at a small private university and advance guidelines for the effective implementation and assessment of experiential learning projects in business curricula.
Highlights
I n the spring of 2013, the Association to Advance Collegiate Schools of Business (AACSB) launched new standards for accreditation of its member business schools
While the majority of accredited business schools and programs already incorporate components of relevance and hands-on learning in their mission statement and curriculum, what is most striking in the new AACSB teaching paradigm and accreditation standards is the pervasiveness of the educational value concept
To accurately assess learning outcomes from each stakeholder’s point of view, we propose that an effective business curriculum should deliver three distinct sources of educational value: 1) academic value, 2) professional value, and 3) moral value (Figure 1)
Summary
I n the spring of 2013, the Association to Advance Collegiate Schools of Business (AACSB) launched new standards for accreditation of its member business schools. While the majority of accredited business schools and programs already incorporate components of relevance and hands-on learning in their mission statement and curriculum, what is most striking in the new AACSB teaching paradigm and accreditation standards is the pervasiveness of the educational value concept. The safety of the classroom environment and central directive role of the faculty member in the class discussions or exercises can dampen the active engagement of students and the realism of the experience, thereby reducing the impact of Kolb’s “concrete experience.” These limitations are overcome by internships, widely embraced by business schools world-wide as the preferred method to give students practical experience and help them transition to the real world. Placement: Individual student assignments require Shorter exposure a large number of hosts
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