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Rich Exchanges Using Fundraising as a vehicle to experience enterprise and evaluate entrepreneurial potential

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Rich Exchanges. Using Fundraising as a vehicle to experience enterprise and evaluate entrepreneurial potential. Entrepreneurial Creativity: doing what it says on the tin!. We wanted a module ‘for enterprise’ not just ‘about enterprise’ - PowerPoint PPT Presentation

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Page 1: Rich Exchanges

Rich Exchanges

Using Fundraising as a vehicle to experience enterprise and evaluate

entrepreneurial potential

Page 2: Rich Exchanges

Entrepreneurial Creativity: doing what it says on the tin!

• We wanted a module ‘for enterprise’ not just ‘about enterprise’

• The module team wanted students to be able to practice enterprise and engage in creative activities

• Lourenco and Jones (2006) suggest entrepreneurs learn primarily though learning-by-doing and reflection. They cite Cope and Watts (2000) and Deaking and Freel (1998) ‘ learning by copying and opportunity taking; and learning from making mistakes’ Gibb (1997).

• This involved us taking risks as well and placing our trust in the student body

Page 3: Rich Exchanges

Motherhood and apple pie….• Raising funds for local charities proved most opportune,

they are always looking for people to help (They need our help more than ever!) and institutionally it was the least contentious route. It is difficult to disagree with a good cause!

• It provided a degree of creative freedom, was not resource or time hungry and introduced the students to the work of the Third Sector.

• Lourenco and Jones (2006) less than 3% of HEI’s made use of action/experiential learning which are regarded as ‘the most effective route to entrepreneurial education’ (McKeown 2006; Pittaway and Cope 2006)

• Though I suspect here I am preaching to the converted!

Page 4: Rich Exchanges

Understanding and evaluating entrepreneurial potential

• An opportunity for self reflection and analysis

• Students were introduced to the FACETS model (Focus, Advantage, Creativity, Ego, Team and Social - Bolton and Thompson 2003; Thompson2003), using online diagnostics and workshop activities on creativity, team roles, personality and IQ tests and culminating with an assessment via the Bolton and Thompson Entrepreneurial Indicator http://www.efacets.co.uk/login.aspx.

• Creativity techniques and creative problem solving methods including Hermann Brain model (Lumsdaine and Binks 2007), idea showers, combining ideas and Scamper techniques to enabled students to consider the issue of fundraising from new perspectives.

Page 5: Rich Exchanges

Barry’s FACETS Schematic from the B&T Website

One conclusion? I’m probably better at talking about it than doing it – but at least I’m in the right profession!

Page 6: Rich Exchanges

Expert Help

• Our partners the Compton http://www.compton-hospice.org.uk/

• and Severn Hospices http://severnhospice.org.uk/ • And also this year Wolves community trust

http://www.wolvescommunitytrust.org.uk/wt/home and the Steve bull Foundation http://thestevebullfoundation.co.uk/

• provided a framework in terms of fundraising• We all learned from their experience and used their resources• We created event approval forms and risk assessment

templates and Exemplars students needed to complete prior to their fundraising

Page 7: Rich Exchanges

Further Richness - Awards and Prizes • An ‘exhibition’ of ‘applied creativity’ provided the opportunity for us to share

and showcase what had been achieved.

• Prizes were provided by a KTP company we were working with, Fabweld Steel Products Ltd and there were awards for the groups that raised the most money and those who were most creative in the opinion of the module team.

• Fundraising winners – Liaised with a local school and organised a music event with pupils, raised £400 which was used to pump prime an event at a local hotel (they negotiated the price down from £850 to £200) with a band, food, raffle and auction (secured donated prizes) selling 120 tickets at £10 per head, followed by themed bag packing at a superstore. 5 Students raised £2,000 over a 3 week period

• Creativity winners – group set up the Charge society in conjunction with the students union, to ensure fundraising was continued and to channel student fundraising across the university. A small sum was raised during the exercise but the sustainability of the idea was judged as very creative, they are engaging with other students and business organisations

Page 8: Rich Exchanges

Benefits - students• Students were the decision makers and were active• They began to understand why the Third Sector exists, why it

is likely to grow in significance and the opportunities it might offer for them – ‘The Big Society’?

• A vehicle for the release of creativity• An opportunity to assess and take risks in a structured

environment• Confidence, initiative and experience• Learning by doing• Adding CV value • Understanding of the principles and practice of fundraising• The potential gap between theory and practice, requiring

them not only to think dynamically but to act dynamically

Page 9: Rich Exchanges
Page 10: Rich Exchanges

Active learning• The students were enthused, had to make real things happen,

many were moved out of their comfort zone and had to change their modus operandi.

• They had to take decisions and evaluate risks, contact and negotiate with third parties, plan and implement.

• Their creativity was challenged throughout, they had to deliver an exhibition of their efforts and assess and reflect on their entrepreneurial potential through their research and experience.

Page 11: Rich Exchanges

Benefits - Charities

• £33,000 plus in terms of funds raised

• They were able to spread their message

• To engage with demographic segments and community groups outside their normal sectors

• The opportunities to ‘capture’ activists and fund raisers at an earlier stage of their lifecycle

Page 12: Rich Exchanges

Benefits – Business School• The opportunity for the university to stimulate active

involvement, giving back and produce more ‘valuable’ and well rounded graduates

• It strengthened partnerships with business and Third Sector organisations and provided a good PR message

• We are able to contribute to ‘our’ community

• Given all the above we felt this activity was win-win for all partners

Page 13: Rich Exchanges

Does it work? Yes according to our student feedback

  Excellent Very Good Good Average Poor

Clarity of module aims and learning outcomes? 16 25 20 2 0

Structure and quality of content? 13 30 20 1 0

Classroom sessions/ lecturer? 22 18 15 7 1

Support for learning out of the classroom (e.g. WOLF?) 20 22 20 6 0

Clarity of assessment criteria and tasks? 13 25 19 8 0

Feedback/ Discussion with tutor in class or online? 13 19 16 12 1

Contribution of this module to my overall programme of study? 16 28 15 5 0

Value of this module to my knowledge, practical skills and general learning? 20 29 19 1 0

Enjoyment of the learning experience? 17 28 15 1 0

Page 14: Rich Exchanges

What did they like? - Summary of comments

• What have been the BEST aspects of this module?

• Practical x12, • Teaching x 7• Fundraising x7• Creative x6• Active x2• Brainstorming, • Structure, • Add to CV • Different• Exciting, • Blended Learning • Confidence • Freedom • Groups

Page 15: Rich Exchanges

And us?• Staff have been reminded of how fulfilling a creative

approach to teaching and assessment can be

Just do it!

Page 16: Rich Exchanges

Sources• Bolton, B and Thompson, J. The Entrepreneur in Focus, Thomson Learning

2003, London.• Laurenco, F. & Jones, O. (2006) Developing Entrepreneurship Education:

Comparing Traditional and Alternative Teaching Approaches, International Journal of Entrepreneurship Education 4: 111-140

• Lumsdaine, E and Binks, M Entrepreneurship from Creativity to Innovation, Trafford 2007, Oxford

• Thompson, J. (2004) The facets of the entrepreneur: identifying entrepreneurial potential, Management Decisions Vol 42 No. 2