E-Entrepreneurship
Learning in a Simulated Environment
Copyright Idea Group Inc. Jul-Sep 2005
EXECUTIVE SUMMARY
E-business is being heralded as the new economy. However,
developments in the area of new online business-to-consumer
(B2C) venture creation has been accompanied by varying degrees
of success, and it is increasingly recognized that online venture
creation does not materialize overnight. E-business development
typically follows an evolutionary cycle of initial experimentation with
Internet technologies and the transformation of consumer
propositions toward the creation of a commercially viable online
presence. To enable entrepreneurs to negotiate this new business
landscape, Netrepreneur simulates the initial startup phases of
e-business creation in the online economy. Through the modeling
and electronic simulation of the e-commerce environment,
Netrepreneur aims to create a holistic understanding of the
entrepreneurial process as well as encourage participants to learn
by doing in the simulated virtual world instead of trial and error in
the real e-economy. This paper reviews the underpinning
entrepreneurial pedagogic requirements for design
conceptualization and the integration of the real and virtual
business worlds within the Netrepreneur system development. It
documents the key factors that academia should consider when
designing learning programs and activities for would-be
e-entrepreneurs. It is our hope that by showing the background to
the development of this product, we will facilitate more of this type
of innovation in education.
INTRODUCTION
The process of entrepreneurship has been defined as managerial
behavior that consistently exploits opportunities to deliver results
beyond one's capabilities (Parston, 1998). An entrepreneur is
someone with vision who spots a new opportunity and acts on it.
Successful entrepreneurial ventures inevitably will require
innovation through the exploitation of new ideas, whether they are
cultural, organizational, or technological. The e-commerce
paradigm is in a constant state of invention and renewal in the
creation of innovation and brand involvement. The challenge in
structuring such a learning environment for the education sector
concerns the ability of conventional teaching techniques to meet
the needs of e-entrepreneurial startup, the exploitation of new ideas
in virtual settings in conditions of increasing uncertainty. McHardy
(2000) contends that the pressures faced by practitioners as they
innovate are not easily replicated by conventional teaching means.
Furthermore, Thompson (1999), commenting on enterprise
curriculum, contends that "while the need for education in
entrepreneurship is clear, the problem is nobody yet agrees what
entrepreneurship is, and how it should be taught" (p. 209).
This paper focuses on design conceptualization and system
development, based on the B2C e-commerce environment, to
develop learning in creativity and innovation as part of online
entrepreneurial startup. The objectives of the simulation will
encourage entrepreneurs to innovate experientially by facing the
uncertainty and ambiguity of e-business. It is designed to emulate
the way practitioners learn to innovate, allowing participants the
opportunity to experiment via action learning, replicating the real
world experience but in a relatively risk-free environment.
Action learning involves participants in a situation who attempt to
solve real problems in a purposeful and logical way. It allows
participants to become empowered, to act rationally, and to
develop critical-thinking skills. This enhances their capacity to
investigate, understand, and, if necessary, change the ongoing
situation, all with minimum external assistance (McHardy, 2000).
The Netrepreneur simulation allows participants to experience and
explore a problem in a practical and pragmatic way. The generally
accepted definition of simulation given by Guetzkow( 1963) is "an
operating representation of central features of reality" (p. 10). Thus,
to qualify as a simulation, an exercise must have the following two
essential features: it must represent a real situation of some sort (or
an imaginary situation that might be real), and it must be ongoing
(i.e., dynamic).
Simulation can be used as a response to situations in which
participants have to display skill and take risks, and it provides a
structured environment for learning complex problems. Virtual
environments are constructed recognizably like reality, while
contrasting in the outcome. Participants then gain the value of
practice and experience without the consequential risks. These
activities are described as virtual because their meaning has to be
created by the designer and interpreted by the participant.
According to Schon (1987), constraints that would prevent or inhibit
experiment in the real world are greatly reduced in the virtual world,
"permitting different paces in doing different things, different ways
of doing the same thing, and, above all, reflection in action" (p. 102).
Furthermore, a virtual world only can function reliably as a context
for experiment insofar as the results of the experiment can be
transferred to the real world (i.e., learning through experience).
This approach of learning and action through virtual worlds is the
model that is adopted within Netrepreneur. The simulatory
environment creates a constructed representation of the real world
of practice, allowing entrepreneurs to improve the viability of the
entrepreneurial concept marketability and e-commerce presence.
The results of the simulated experiment will facilitate learning by
allowing for the incremental improvement of e-commerce sites.
Depending on proposition viability, sites can be ported directly to
the real world to establish viable e-commerce business ventures.
ENTREPRENEURSHIP
Successful entrepreneurial ventures require creativity and
innovation, which call for enterprising people to interpret what is
possible into reality (Kao, 1989). In order to meet the demands of
chaotic modern environments and harness the potential of new
technologies, these ventures necessitate learning and change.
Prospective entrepreneurs develop their own ways of dealing with
opportunities, hindrances, and reservations to creatively create
new services, products, organizations, and ways of satisfying
customers or doing business.
Paradoxically, the learning process for entrepreneurs is notably
different from conventional approaches adopted within education.
Visionaries are those people who are able to synthesize the
available information and clarify patterns that escape others.
Motivated by the desire to be successful, entrepreneurs prefer
perceptual movement and improvement, continually hoping to find
and exploit manageable risks and opportunities (Churchill, 1997).
They are comfortable with ambiguity, and they can bring
transparency by piecing together unrelated messages and signals.
Their approach to strategy is a quick but careful initial screening of
data, using only limited analysis, to evaluate the quality of the idea.
Their success lies in vigilance, learning, flexibility, and change
during implementation (Bhide, 1994). Inadequate thought and
appreciation will increase their sensitivity to the unexpected or
unanticipated event (Thompson, 1999).
As such, to make people more enterprising, it will be necessary to
foster creativity, innovation, and learning through the
implementation process. This implies that the learning environment
will be required to emulate a coaching instead of a telling style in
order to allow entrepreneurs to take initiatives and accept
responsibility for the decisions they take.
ACTION LEARNING AND SIMULATION
The implications behind the creation of this entrepreneurial learning
environment are far reaching for educators with respect to
emulating practitioner learning. Practitioners are inclined to rely on
hunch, intuition, and implied knowledge when relevant facts are
limited. Revans (1982) argues that action learning is primarily a
way of managing this change through the learning process. Action
learning works in the context of real issues and develops the whole
person in order to apply broad skills for use in a wide range of
situations. In doing so, this learning process helps make
long-standing inferred issues far clearer. Critten (1993) cites
Revans' (1982) equation for action learning L (action learning) = P
(programmed learning) + Q (questioning insight) to describe the
ways practitioners learn-"they act, then reflect, by questioning
insight, the latter relying on qualities beyond the purely factual
level" (Critten, p. 123). Q, therefore, reflects the need for decision
making that relies on intuition and feel. Confirmation of the value of
questioning requires action to be taken in order to solve the
problem.
McHardy (2000) proposes that "under real world conditions of
stability and slow change, P is necessary and maybe sufficient,
however under conditions of rapid change, uncertainty renders the
tradition of proven techniques necessary but insufficient" (p. 497).
McHardy (2000) describes P as "facts gleaned from yesterdays
problems, such as case studies" (p. 498). Roberts (1996) cites that
programmed instruction leaves practical understanding untouched
because of "a gap between explicit knowledge and tacit knowledge
that informs practice" (p. 72). To Pedler (1983), Q is the real world
chaos and uncertainty with no definitive answers.
In contrast to the learning environments of practitioners, Pedler
(1983) contends that educational establishments have over
emphasized thinking (P) at the expense of feeling the need.
Coaching learners beyond the realms of the thinking mode into a
mindset where activity and risk-taking occur requires different
teaching methods.
Mchardy (2000) developed a knowledge skills matrix (Figure 1) for
facilitating creativity, a pedagogic framework of two axes: one a
continuum for knowledge and the other for skills (in each case from
appreciated to applied). Of the four quadrants, the first three
represent a focus on either knowledge or skills, but with neither
integrated. When moving into the final quadrant, the crossing of an
intuition gap is required, where feeling cues associated with
Pedlers (1983) and Revans (1980) action learning can be activated
using techniques such as simulation.
The use of simulation and virtual worlds that compress time and
space as microcosms of real settings can be tailored to give
participants an experiential taste of how practitioners learn
(McHardy, 2000). Participants, therefore, are encouraged to feel
risk-taking, but, as Keys (1996) proposes, "learn through
experimentation ... without the do or die consequences
encountered in real life" (p. 44). Pfeiffer (1995) proposes that
participants may learn more from simulation; "we remember more
from what we know from being told about, or from reading about" (p.
209). Furthermore, active involvement through simulation is
intrinsically motivating and engenders critical inquiry (Gallo, 1987).
E-COMMERCE ENVIRONMENT
Many tried and untried business models have been hypothesized
for implementation in the quest for e-market success. However,
there are no guarantees that what is created as online enterprises
with expectations of being successful, viable, long-term businesses
will be anything but empty digital environments tomorrow. Many
analysts have predicted hardship for e-businesses, and the Gartner
Group projects that 75 % of future online e-businesses will fail
because of poor planning and understanding of the market and
technological challenges.
Despite the fatalistic trial-and-error approach being employed by
many e-businesses, the Internet is still recognized as a
revolutionary technology with the potential to change the traditional
business environment and steer the future of electronic commerce.
Despite problems, e-shopping sales in the UK alone have reached
£3.3 billion (Verdict, 2002). While this represents only 2% of all
retail sales, it is forecast to rise to between 2.5 % and 5 %by 2005
(BCSC, 2001) and 10% by 2009 (Gibson, 1999; Verdict, 2002). It is
also predicted that 94% will be at the expense of existing channels
and only 6% from extra growth (Prefontayne, 1999). This future,
therefore, will accelerate the shift of power toward the consumer,
which will lead to fundamental changes in the way companies
relate to their customers and compete with each other ( The
Boston Consulting Group, 2000). The immense popularity of the
online enterprise in recent years has been fueled largely by the
prospect of performing business online. The virtual world has the
ability to bring down physical barriers to commerce, almost
immediately giving the smallest business and entrepreneurs
access to untapped markets, where the size differential of bricks
and mortar no longer matters in brand development and
involvement. These reduced barriers to entry are of obvious benefit
to potential entrepreneurs.
Against the background of the potential for commercial
transformation and the realization of the reality, the need for online
businesses to learn the lessons needed to survive and prosper
becomes an imperative. It is recognized that enduring e-enterprises
require a sound business proposal underpinned by an
understanding of e-commerce buying behavior and a Web
presence that translates into brand involvement.
METHODOLOGY
The relevant research reviewed provides strong support for
learning strategies that actively involve participants in the process
and for those activities that accurately simulate real-world practices.
The review further highlights the necessity of incorporating these
pedagogical considerations in the creation of a virtual world,
whereby entrepreneurs can learn about e-startup venture creation
and the complex causes of casualties in the online economy.
The simulation, therefore, aims to foster creativity innovation and
learning through the implementation process. With this in mind, the
project development sought to incorporate the following objectives:
1. Design a simulation that blends the real and virtual worlds,
allowing participants to develop the ability to learn the way
practitioners do.
2. Encourage participants to cross the intuition gap by replicating
Q-type factors of chaos and uncertainty, thereby encouraging risk
taking.
3. Facilitate the incremental discovery of e-commerce dynamics,
leading to viable predictive business proposals in the creation of
brand value and active involvement.
Pedagogic Considerations
The simulation has two target groups. First, in the creation of a
learning environment for would-be entrepreneurs wishing to
establish a presence within the online economy. Second, the
simulation should be utilized as an experiential learning program for
university students, recognizing that increasingly more students
need to create jobs and cannot expect secure employment from
large, established organizations. This will allow them to understand
the basic e-enterprise dynamics behind the theory. Beyond this,
participating graduates will develop a mindset that appreciates the
need for the incorporation of creativity and innovation in developing
business solutions for increasingly undefined and changeable
operating environments.
The requirements of new approaches to learning (L) highlight a
different role for the educator in structuring the learning
environment. Learning must now be enabled, while participants
must be left to derive their own conclusions. In such less
conventional environments, students still need guidance in
knowledge assimilation (P-type approaches), but also in the
context of making sense of learning by doing Q-type approaches.
Thompson (1999), commenting on entrepreneurship, highlights
that, while creativity and strategic awareness are important, they
are only partial. Instead, he proposes that people need to be
encouraged to look at things around them in a more critical way,
observing events and incidents more closely and questioning how
things might be done differently and thereby improved for greater
commercial benefit (Q-type approaches).
With this in mind, the learning process was designed to encourage
participants to innovate experientially by facing the ambiguity and
uncertainty of openended change. An important aspect of process
development, therefore, was the synchronization of both P- and
Q-type learning environments.
The program of instruction is designed in three successive parts
(see Figure 3). In the first part, participants are on conventional
learning paths. In the second, participants experience action
learning principles through simulation, as proposed by Revans
(1982), triggering feeling cues and allowing participants to cross the
intuition gap. The third part returns to more standard pedagogic
techniques; in particular, those of reflecting to gain understanding.
Therefore, participants move from comfortable P-type learning
environments to the Q-type zone of risk taking and back to a
semi-comfortable zone (P/Q), where they can conceptualize their
experience.
The simulation requires participants to operate the business for
several iterations. These e-cycles allow entrepreneurs to learn from
initial mistakes, improve an existing business design for the next
cycle, or start a new business. This process of incremental
improvement coincides with Churchill's (1997) view that
entrepreneurs prefer perceptual movement and improvement in the
quest of exploiting manageable risks and opportunities. To this
effect, the simulation allows participants to operate their online
presence in much the same way as an e-commerce business.
Uniquely, Netrepreneur dispenses with the time-restricted periods
found in many existing business simulations allowing both
consumers and entrepreneurs to carry out their activities on a
24-hour-a-day, seven-days-a-week basis. By adding this real-time
aspect, the simulation is able to enhance a learning and adapting
emphasis, which facilitates the incremental discovery of
e-commerce dynamics at a pace that is suitable to the
entrepreneur's learning style.
Simulating E-Startup
Netrepreneur is designed to simulate the initial startup phases of
entrepreneurial activity in the online e-commerce economy.
Participants devise a viable business within the context of an
e-commerce virtual world and review business performance in light
of market data.
To this extent, each e-cycle consists of the following stages of
business planning and Web site development (theory informs
interpretation), implementation (practice), evaluation and review
(reflection on theory and interpretation). This is illustrated in Figure
4.
THE SIMULATION
The micro world is represented by a virtual shopping mall (Figure 5)
within which entrepreneurs can design and implement Web-based
companies to market (virtual) goods and services online to a large
group of consumers.
For the entrepreneur, the goal of each e-cycle is to design and
implement (online Web site development) companies with a
product/service offer that consumers will visit and purchase from,
and in doing so, accurately predict their purchasing behavior in the
business plan. For the consumer, the objective is to examine the
company Web pages and purchase goods and services that would
appeal to them in the real world. Consumers are not required to
spend all of their money or to buy anything at all, if they do not find
anything of interest. Alternatively, the facilitator of the learning
program can provide role-play scenarios to consumers and instruct
them to maximize their welfare.
At the end of each e-cycle, a reflection period allows entrepreneurs
the opportunity to analyze the information collected from the
activities within the e-cycle. Based on this information,
entrepreneurs can improve their approach to the next business
cycle. This reflection period is based on a review of the business
plan with respect to:
* Financial status of the online business
* Consumer Web site statistics (hits vs. purchase)
* Consumer segmentation characteristics
* Forecast vs. actual market share/sales
The Netrepreneur business plan allows prospective entrepreneurs
the opportunity to run through the main elements considered within
a real business plan. The structure of this business plan assists
them not only in designing a Netrepreneur business, but also in
evaluating its success after each e-cycle. This evaluation process
is based on predictions made within the business plan on market
share, cash flow, sales, and profits against those actually attained
during the consumer purchase phase of the simulation.
Netrepreneur provides entrepreneurs with the following information
as part of each e-cycle to facilitate the incremental improvement
process:
* Consumer Web Site Statistics. Statistics and data on sales and
hits include information with respect to actual transactions, hits per
page, and the time spent by a consumer visiting each site. As part
of the business plan, entrepreneurs would be expected to forecast
anticipated market share, cash flow, sales activity, and profits.
These forecasts can be tested during each e-cycle with respect to
forecast vs. actual market share and sales activity.
* Consumer Segmentation Characteristics. Information is collected
through a questionnaire, completed by consumers on entry to the
simulation, which includes information such as sex, age, earnings,
and so forth. This facilitates the development of the marketing
component in the business plan.
* Financial Status of the Online Business at the End of Each
E-Cycle. Companies are created with an initial amount of
investment to facilitate the startup cost of the business. Within the
original business plan, entrepreneurs are given a personal bank
account, and, over the course of the simulation, monies are
expended each day to pay for the company's Web presence and to
pay for the cost of products and services sold. Also, from each
e-cycle, income is derived from each day's purchases.
Netrepreneur then provides a cash flow statement for each
company. The administrator may alter Netrepreneur fixed
expenses; these include costs, for example, incurred with Web site
development and hosting fees. The variable cost component of the
cash flow requires the entrepreneur to generate a percentage profit
on sales estimates within their business plan. This is then used to
determine gross profit margin given net sales revenue attained
within the simulation.
The simulation is divided into three areas, allowing access to
facilitators, entrepreneurs, and consumers (Figure 6).
ADMINISTRATION PANEL
Through the administration panel, facilitators are able to perform
four functions:
1. Assign company names, passwords, and restricted upload areas
to entrepreneurs
2. Provide user logins and passwords to consumers
3. Enable virtual credit balances for consumers
4. Input venture startup cost component (fixed and variable)
For facilitators, the setup and maintenance of the administration
system has been made as simple as possible, with no technical
expertise required and all hosting being done remotely.
The login facility used in Netrepreneur utilizes a combination of
user names, passwords, and secret access levels, which are
assigned prior to the simulation by the facilitator. By designing the
login function in this way, facilitators are able to restrict certain
areas of the upload facility and, therefore, prevent entrepreneurs
from altering any stores which are not their own.
The company names, which have been selected by entrepreneurs
in their business plans, are then inputted by facilitators and will
appear in the retailer selection menu on the main entry screen to
provide a direct link for consumers to access the Netrepreneur
stores. The cash balance option in the simulation has been
provided to introduce a startup cost component to the game.
Facilitators will also provide up to 150 shopper accounts with user
names, passwords, and cash balances. Cash balances have been
made user-specific, as facilitators may choose to vary funds for
consumers, therefore adding additional realism to the simulation, or,
alternatively, cash balances could remain constant in order to truly
gauge concept success.
ENTREPRENEURS
Once logged in to the simulation, entrepreneurs are able to perform
four functions:
1. Upload their e-commerce sites
2. Gain access to the mall's virtual credit system to sell their goods
and services
3. View mall sales and hits statistics
4. Gain access to the cash flow statement at the end of the e-cycle
The virtual shopping mall is essentially a landlord for up to 10
entrepreneur Web businesses. The aim for entrepreneurs is to
select their product concept, determine a pricing structure, and
design their store presence.
The system is designed to facilitate all levels of technical expertise,
from those with no Web design experience to those that are fully
experienced in complex Web design methods, thereby removing
any constraints for curriculum design and/or prior knowledge.
Designs created in Microsoft Word can upload directly from the
Netrepreneur site, with no need for Web design or file transfer
protocol (FTP) software. Netrepreneur also supports complex Web
design methods and the use of any programming language with an
FTP facility to the Netrepreneur mall. It is envisaged that this will
facilitate greater access of Netrepreneur within the university and
among other interested institutions.
Competing entrepreneurs as commercial tenants are also provided
with access to the mall's virtual credit system, thus allowing
consumers to purchase their goods. This credit system is
developed using SQL stored procedures and integrates this with
credit values assigned by the simulation facilitator.
Following consumer evaluation and purchase, entrepreneurs will
be able to assess both their concept marketability and the design of
their Web sites through various hits and sales figures provided by
the simulation. This will enable entrepreneurs to reflect on the
objectives of the business proposition and to provide the
opportunity to ultimately review and change accordingly. This
process of improvement will facilitate an understanding of the
consumer's propensity to enter into an optimal experience and its
dependency on the business concept and interpretation of Web
presence.
CONSUMERS
The selection criteria for consumers are dependent on the set
objectives of the instructional context. For example, using
Netrepreneur as part of enterprise and Web design in
undergraduate curriculum, entrepreneurs are briefed to design
business propositions targeted to the student population of the
university, and, as such, students will form the consumer
population.
For consumers, the simulation provides the ability to login and
access all stores within the mall. Consumers may purchase
products from these stores with a virtual credit balance assigned by
facilitators. To prevent misuse, the simulation recognizes returning
customers and provides only remaining credit balances based on
what has been spent on the previous visit.
Upon entering Netrepreneur, consumers complete a registration
questionnaire, which provides entrepreneurs with information on
customer characteristics such as demographics and lifestyle.
Netrepreneur provides entrepreneurs with this information not only
on the consumer population accessing the virtual mall, but also on
consumers actually purchasing.
APPLICATION OF NETREPRENEUR
Successful pilots of the simulation have seen both the University of
the Arts London and Manchester Metropolitan University adopting
Netrepreneur within e-enterprise curriculum. Further, Retail
Enterprise Network, an organization created to develop ways of
protecting and promoting diversity within the SME retail sector, is
utilizing the simulation within training in e-entrepreneurship with
both British and Spanish users.
TRANSFER OF LEARNING TO THE BUILT ENVIRONMENT
In the real world, one of the very natural ways of acquiring
knowledge in a domain is to be immersed in a situation related to
this domain and to practice. Value in the entrepreneurial venture is
added through the transformation process (Thompson, 1999).
Effective control of the value adding process will require sound
performance measurement, which is outcome driven. To this end,
the simulation encourages participants to understand which factors
are critical for e-business success and ensure that performance in
respect of these is measured and any failings remedied.
Hoover and Whitehead (1975) state, "Experiential learning exists
when a personally responsible participant cognitively, affectively
and behaviourally processes knowledge, skills and/or attitudes in a
learning situation characterized by a high level of active
involvement" (p.). As such, the type of learning that may occur
through participation within a simulation can be categorized into
cognitive, affective, and/or behavioral learning.
Cognitive Learning
Cognitive learning, from the perspective of simulation users, might
be thought of as developing an understanding of basic facts and
concepts so that sound decisions can be made (Wellingtion et al.,
1995). Table 1 highlights the cognitive learning principles
embedded within Netrepeneur.
Affective Learning
Affective learning may be considered as to what participants
perceive they have learned. Traditional academic approaches
emphasize the learning of theory. Theory consists of
generalizations that are not useful without the knowledge of how
they apply to varied reality of specific business contexts. The
development of higher-level thinking skills through the blending of
the real and virtual world allows for a participant-centered approach
to learning and thereby increases motivational stimuli of interest
and participation within the learning process. Table 2 illustrates the
participant-centered approach to learning adopted within
Netrepreneur.
Behavioral Learning
Behavioral learning can be considered as participants, learning and
exhibiting changes in behavior in light of the new information. The
learning process within Netrepreneur was designed to encourage
participants to examine the business context in a critical way,
observing events and incidents and questioning how things can be
done differently, thereby improved for commercial benefit. The
creation of a learning and adapting environment over several
business cycles emulates practitioner learning through action,
reflection, and questioning insight (Table 3). Game play over
several iterations further increases learner reinforcement.
CONCLUSION
Entrepreneurship is a keystone of the UK's economy. Since the
1980s, successive chancellors of the Exchequer have recognized
that future economic growth and employment is increasingly fueled
by the small business sector. The current thinking of agencies such
as the small business service is that a healthy economy is
dependent on encouraging new business startup and that a
constant chain of new business startup and failure ensures that the
nation's resources (labor, capital, etc.) are harnessed by the most
efficient operations.
However, more new enterprises require more entrepreneurs. But
just how are entrepreneurs created? A traditional response to such
a labor market need is to use the education system to address skill
and occupation deficiencies in the workforce. However, it is
recognized that the pressures faced by practitioners as they
innovate are difficult to replicate by conventional teaching
methodologies.
Traditionally, entrepreneurship is taught at a higher level in
business schools. Much of higher-level business education is
focused on knowledge acquisition (P-type approaches to learning)
and gaining an appreciation of the business and management
functions within organizations (marketing, finance, human resource,
management, etc.). The process of entrepreneurship has been
defined as managerial behavior that constantly exploits
opportunities to deliver results beyond one's capabilities (Preston,
1998). To support this, in educational terms, one would expect the
focus to move away from knowledge acquisition to skill acquisition
(Q-type approaches to learning).
The challenge to those charged with creating more entrepreneurs
through the education system is that successful entrepreneurial
ventures require creativity and innovation, which call for
enterprising people to interpret what is possible into reality (Kao,
1989). How do we support the creativity and skills development
within a given context? Furthermore, if we try to develop these skills
in an insular vacuum of knowledge acquisition, are we creating
entrepreneurs who can really exploit reallife opportunities, or are
we creating dysfunctional free thinkers unable to see an idea in the
real world?
The purpose of this paper was to review the pedagogic
requirements of entrepreneurial education within one specific
context of e-commerce. It documents the development of one
particular teaching aid-Netrepreneur, a Web-based simulation
designed to allow students to learn the dynamics of
e-entrepreneurship-in order to identify the key factors that
academia should consider when designing learning programs and
activities for would-be entrepreneurs. The development of
Netrepreneur was inspired by the opportunities inherent in action
learning and simulation methodologies-two non-conventional
teaching means-and it is our hope that by showing the background
to the development of this product, we facilitate more of this type of
innovation in education.