Basic Business Concepts Research Articles

The Disruptive Innovation and Entrepreneurship Education: The Literature Review and Current Practices

Entrepreneurship education is changing dramatically due to rapid technological advancements and transformative business models. This study investigates the interactions and implications of existing frameworks and practices that link disruptive innovation with entrepreneurship education. The research employs a comprehensive literature review from 2019 to 2023, to synthesize detailed analyses for investigating the interplay of these concepts. Entrepreneurship education fosters the ability to recognize and capitalize on innovative opportunities, whereas disruptive innovation emphasizes value creation through norm-breaking when aligned with entrepreneurial principles. Effective entrepreneurship education can drive new businesses and revitalize existing ones by enabling individuals to capitalize on disruptive breakthroughs. However, incorporating disruptive innovation into courses is challenging. Traditional education may fail to capture the dynamic nature of disruptive innovation, and risk-averse academic environments may stifle experimentation. Innovative teaching methods that balance basic business concepts with disruptive thinking are essential. Finally, a new generation of entrepreneurs can be developed by combining disruptive innovation and entrepreneurship education. Individuals can capitalize on opportunities for economic growth by infusing programmers with disruptive principles. The study identifies five key components of convergence: (i) technology-enabled virtual learning environments (VLEs), (ii) online distance learning (ODL), (iii) digitalization in entrepreneurship education, (iv) competency-based education (CBE) that fosters Business Model Innovation, and (v) experience-based learning in entrepreneurial education. This paper examines the role of disruptive innovation in entrepreneurial education, proposing research directions and highlighting unresolved areas for investigation.
 Keywords: business model, disruptive innovation, entrepreneurship education, technology, online distance learning

Nurturing Entrepreneurship Skills, Creativity and Communication Skills: An Exploratory Study on Omani Arab EFL Learners

To prepare students to face the world of work, universities should ensure that engineers graduating from their campuses demonstrate entrepreneurial skills and the ability to understand market forces alongside domain knowledge. This exploratory study focused on the design, application, and evaluation of a research-based coursework assignment in a business communication course offered to undergraduate level engineering students at a university college in Oman. The assignment aimed at developing students’ entrepreneurship skills, basic business concepts, creativity, critical thinking, communication skills, and research skills. Student perceptions on the role of assignment in developing the above-mentioned skills and in influencing their affective domain were gathered using a survey questionnaire carrying closed and open-ended questions. The data were analyzed using SPSS and frequency tables were generated. The results of the survey revealed that the students enjoyed working on the assignment and showed strong agreement for most of the items on the role of assignment in developing their skills and knowledge. The assignment model used in this study can support teachers in designing assessments that target the development of entrepreneurial skills alongside other meta-skills and can help solve the problem of unemployment in due course.

Nurturing Entrepreneurship Skills, Creativity and Communication Skills: An Exploratory Study on Omani Arab EFL Learners

To prepare students to face the world of work, universities should ensure that engineers graduating from their campuses demonstrate entrepreneurial skills and the ability to understand market forces alongside domain knowledge. This exploratory study focused on the design, application, and evaluation of a research-based coursework assignment in a business communication course offered to undergraduate level engineering students at a university college in Oman. The assignment aimed at developing students’ entrepreneurship skills, basic business concepts, creativity, critical thinking, communication skills, and research skills. Student perceptions on the role of assignment in developing the above-mentioned skills and in influencing their affective domain were gathered using a survey questionnaire carrying closed and open-ended questions. The data were analyzed using SPSS and frequency tables were generated. The results of the survey revealed that the students enjoyed working on the assignment and showed strong agreement for most of the items on the role of assignment in developing their skills and knowledge. The assignment model used in this study can support teachers in designing assessments that target the development of entrepreneurial skills alongside other meta-skills and can help solve the problem of unemployment in due course.

Constraints of Honey Production and Marketing in Ethiopia: A Review

Ethiopia has huge potential for beekeeping production and 1st in honey production in Africa because of its endowment with diversity in climate and vegetation resources offering potentially favorable conditions for beekeeping. It is important for sources of food and beverages, medication, income generation, creating employment opportunities, environmental balance through pollination. Even though it has a higher contribution, the sector is yet not potentially utilized due to various constraints. Therefore the objectives of this paper are to review the production constraints of honey in Ethiopia and to review the marketing constraints of honey in Ethiopia. Pests, Disease and Predators; weather problem; Shortage of bee forage; Absconding; shortage of trained manpower; shortage of equipment; poor management practices; chemicals; weak research and extension; poor infrastructures and etc. are constraints of honey production in Ethiopia. While linkages problem; lack of market center; lack of market information; price fluctuation; low awareness of post-harvest handling; lack of technology; poor market infrastructure, lack basic business concepts; and etc. are constraints honey marketing in Ethiopia. To overcome such constraints:- Adopting effective honeybee pests, disease and predators controlling methods; Introducing and expanding of full package improved beekeeping technologies with adequate practical skill; strengthen full package extension services; Support farmers for beekeeping business through credit availability, improving the barging power of beekeepers, strengthen linkage among different concerned institutions, cooperative formation, input supply, market facilitation and infrastructures as a whole; Giving attention on research and human resources development ; Expanding coverage of flowering plants especially economically important ones like horticultural crops and reducing the impact of agrochemicals and others are suggested recommendations.

A First Year Data Analytics Course for Accounting Students

We introduce a data analytics course that accounting students complete during the first semester of their undergraduate program at the School of Accounting and Finance at the University of Waterloo. The course positions analytics as equally important to their future professional success as financial accounting, basic business concepts, and economics. We offer our approach, which could be adopted by any business school that currently requires an introductory course in mathematics for business. Our choices regarding content and delivery method were driven by our aim to help students develop a data analytics mindset from the beginning and in parallel with building their accounting knowledge. We wanted to build on industry standard tools (i.e., spreadsheets) but at the same time to prepare students for a changing environment that is not hindered by data size or software capabilities and emphasize the importance of tool ambidexterity. This means the need to create future professionals who are versatile and capable to switch/leverage the most appropriate tool for each project.

After 12

Subject area Entrepreneurship. Study level/applicability The case is suitable for analysis in an undergraduate/graduate entry level course on entrepreneurship. It may also be taught in a course for non-business majors who are unfamiliar with basic business concepts. Case overview Shrey Gupta and Manoj Agarwal were the co-owners of “After 12”, a food facility in the Dhanakwadi area of Pune, India. In only nine months, their food enterprise had become quite popular among the local college going crowd. They were doing brisk business and sales had picked up quite a bit in the last two months. They both were quite pleased with the progress of their business. However, in spite of increasing sales figures in the last few months they hardly generated any profits. The revenue they generated was completely spent on buying raw materials like vegetables and other food materials and the rest was used in the payment of utility bills and wages of the cook and the helper. They only had enough money to continue for another month or so. Both pondered about what is the way to proceed. What can be done to make it sustainable? How would they arrange the extra money to get them going? Should they close down “After 12”? Expected learning outcomes The case will aid students to understand: how small businesses are started and may fail; the importance of researching your business idea; and SWOT analysis. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

Aligning Efficacy Beliefs and Competence: A Framework for Developing Technical Knowledge

Introduction Managers operating within today's organizations are under the constant pressure of change that results in continuous career challenges. Some of these challenges may be familiar and managers can call upon their past experiences to question, analyze, and address the situation. These challenges will be accepted as opportunities if the situation can be overcome by the managers' robust belief in their ability to acquire and to apply knowledge (Davenport, 2005), to use that knowledge to transform the challenge into innovation and value for themselves and their organizations (Miller, Fern, & Cardinal, 2007), and to add the educational experiences into their concepts of competence (Hogan & Warrenfeltz, 2003). Other challenges, however, may be first encounters of the unfamiliar and unwanted kind, often involving specific areas of expertise or tasks that a given manager has affirmatively avoided throughout his or her career. Such challenges may be more comprehensive in nature than previously encountered and emanate from global competition or from limited natural, capital, or human resources (Ireland & Hitt, 2005). These challenges are often founded on continuous changes within the world's economies and technologies, and individual managers can feel caught up in forces over which they have no control or influence. While it is true that these individuals may have little practical impact on the underlying economic issues, it is very possible for them to be called upon to address the technical elements of such issues, especially if the individual possesses subject matter expertise or specific knowledge about the challenge at hand. Therefore, the question is, where does a manager begin to develop and establish the kind of technical competencies that would aid in addressing the underlying issues of unfamiliar or potentially overwhelming challenges? The answer does not always lie in possessing, developing, or acquiring specific technical expertise in response to changes or challenges, but rather in possessing or developing basic technical competencies to begin breaking down the situation into events, units, or chunks of which can be referenced, analogized, or investigated towards a resolution. In this paper, the authors present a simple technology competency model, called OTIS, that sets forth questions to ask and areas to assess when faced with new or recurring technical challenges. The name is an acronym because the model presents an iterative process for assessing the Objectives, Technology, Implementation, and Support of the challenge to be addressed, as illustrated in Figure 1. [FIGURE 1 OMITTED] Developing a basic familiarity and eventual understanding of these key technical concepts can expand core competencies, as well as enhance career opportunities and establish credibility among peers (Hogan & Warrenfeltz, 2003). The OTIS technical competency model can solidify managers' confidence in their ability to analyze and discuss technical issues within the framework of their professional expertise. For example, a human resources manager should be able to assess the functionality of a human resources information system (HRIS), while a purchasing manager should be able to define workflows and reporting needs for a requisitioning and procurement application. Approach The OTIS model is a starting point to help non-technical managers assess situations involving technology by understanding and relating four basic business concepts to the problems under review. The OTIS model is not intended to replace more sophisticated processes of technical analysis or management controls, such as project management or quality assurance methodologies. Instead, once managers become proficient with the OTIS model, they can extend their education and enhance their competencies by seeking out more sophisticated and comprehensive management methodologies. …

The formalization of knowledge in agricultural industry business processes

This article deals with the most important part of business modelling, with business process modelling. The presented process models are achieved by using common and special UML diagrams. The business process is one of the four basic business concepts creating complex business architecture and it is dynamic, structured and complicated part of the business. In business process, there are stored significant rules and knowledge of the business. Those issues could be applicable to the knowledge formalization in the agricultural business

Business in the media: a pedagogical approach to understanding basic business concepts

This paper describes an unusual course offered recently at a regional university in the Southern US. The course discussed in this paper was different for a number of reasons; these include the fact that the course was team-taught (a new concept in this institution, although not new to more established universities), the course dealt with the psychology of perceptions (specifically how business is perceived through popular media), and the format of the course used a variety of media (predominantly film, but also software, television and popular fiction) to investigate how perceptions are created and manipulated and the justifications for these manipulations. This paper discusses the development of the course, the selection of the various media used to present the course, and concludes with the student responses to the course.

Building a business simulation for kids

This paper presents an overview of Hot Shot Business, a simulation game designed to teach basic business concepts and encourage entrepreneurship. It begins with a high-level discussion of the experience, and goes on to describe how the educational content is presented to the player as the game progresses. Special emphasis is placed on the important of play testing in the development process.

Linking Theory with Practice: Undergraduate Project Management with School-Age Children

This article describes an undergraduate course, Management Skills, that builds tacit knowledge and develops reflective learning skills. In this course, management students teach basic business concepts to elementary school children and manage a business project with the children for 3 months. The business project requires management students to apply their conceptual knowledge in marketing, human resources, and operations management to the production and sale of a product. Tacit knowledge develops as management students coordinate the efforts of the elementary school children, manage the decision-making process, and respond to marketing, production, and human resource problems. Reflective learning occurs through storytelling of critical incidents, interim and final project reports, and coaching sessions with a professor.

Clinical research: business opportunities for pharmacy-based investigational drug services.

The application by an academic health center of business principles to the conduct of clinical research is described. Re-engineering of the infrastructure for clinical research at the University of Wisconsin and University of Wisconsin Hospital and Clinics began in 1990 with the creation of the Center for Clinical Trials (CCT) and the restructuring of the investigational drug services (IDS). Strategies to further improve the institution's clinical research activities have been continually assessed and most recently have centered on the adaptation of a business philosophy within the institution's multidisciplinary research infrastructure. Toward that end, the CCT and IDS have introduced basic business principles into operational activities. Four basic business concepts have been implemented: viewing the research protocol as a commodity, seeking payment for services rendered, tracking investments, and assessing performance. It is proposed that incorporation of these basic business concepts is not only compatible with the infrastructure for clinical research but beneficial to that infrastructure. The adaptation of a business mindset is likely to enable an academic health center to reach its clinical research goals.

Interdisciplinary Studies and Management Faculty Involvement

An innovative approach to course development is introduced that may facilitate the learning process and better prepare students to satisfy the changing needs of their future employers. The uniqueness of this method lies in the refocusing of basic business concepts. For years, functional area emphasis has been construed as the most efficient method to teach introductory business concepts to all business majors. This article suggests that a stakeholder approach could assist learning while meeting goals proposed by accrediting agencies and the general public.

Re-Engineering the Business Curriculum: A Stakeholder Paradigm

An innovative approach to course development is introduced that may facilitate the learning process and better prepare students to satisfy the changing needs of their future employers. The uniqueness of this method lies in the refocusing of basic business concepts. For years, functional area emphasis has been construed as the most efficient method to teach introductory business concepts to all business majors. This article suggests that a stakeholder approach could assist learning while meeting goals proposed by accrediting agencies and the general public.

Price-Level Changes and Capital Consumption Allowances

zV THEN evaluating a business concern, historical facts are among * s the most important bases for a final judgment. Reporting those facts in a clear and understandable way has been a very important goal of accounting. Figures should be presented by the accountants in a way most useful to management and the investing public. The financial reports should therefore, as much as possible, reflect our basic business concepts. However, up until now, some of those concepts have been imperfectly incorporated in financial reports; one such concept is that the average investor of capital stock expects that the purchasing power of his investment will be preserved. Liabilities shown on a balance sheet are of differing natures. Bondholders and creditors expect a specified amount of interest and a final reimbursement of their money. They intrust management with a certain amount of money, and we shall call liabilities toward them money liabilities. On the other hand, we shall call liabilities toward stockholders value liabilities because stockholders intrust management with a certain amount of purchasing power. Not only do they expect a return on their purchasing power, but they also expect that it will be safeguarded so that they can recover it by sale. We can find numerous references in the literature supporting the view that investors hold stock as a hedge against inflation.' It seems desirable to show this responsibility of management in the financial reports, although in classical historical accounting the responsibility of management for purchasing-power recovery has been completely ignored. Assets shown on the balance sheet are also very different in nature. Some, like cash and receivables, fluctuate in real value as money does and we shall call these money assets. Others, which we shall call value assets, are expected to preserve their value. Typical value assets are inventory and fixed assets. Management expects value assets to perform differently from money assets. This is another business concept that is usually very imperfectly shown in financial reports (if at all). A capital investment in equipment with a normal return is not satisfactory if the purchasing power originally committed has not been recovered at the * This paper is a revised and abridged version of an essay which received the National Award in Dynamic Equipment Policy offered in 1957 by the Department of Business and Economics and the National Center of Education and Research in Dynamic Equipment Policy at the Illinois Institute of Technology, Chicago.