In this third installment of my blog series, I'm excited to delve into one of the most rewarding experiences I had while teaching at the Maldives Business School. The course? "Starting a Small Business." My mission? To transform theoretical knowledge into practical, hands-on learning. Let's explore how a unique assignment not only educated my students about business but also ignited their entrepreneurial spirits.
The Assignment: Practical Entrepreneurship
My objective was to create an assignment that transcended traditional classroom boundaries. The task was straightforward yet challenging: each student group (4-5 members) had to invest a specific amount of money in a chosen product or service. The goal? To achieve and surpass the break-even point.
Diverse Ventures and Creative Ideas
The array of business ideas my students conceived was nothing short of remarkable. From the ocean's bounty, like fishing and selling Tuna, to the sweetness of homemade cupcakes. Some ventured into home cleaning services, while others crafted and sold artificial jewelry, homemade soaps, perfumes, and even custom-designed t-shirts featuring student-made doodles. The diversity in their choices reflected not just their creativity but also their understanding of market needs.
Beyond Profit: Personal Growth and Realizations
While attaining and surpassing the break-even point was a tangible measure of success, the intangible outcomes were equally, if not more, significant. Students who usually shied away from expressing themselves began communicating more confidently. They learned the value of money, the nuances of accounting, and most importantly, they discovered their capabilities and potential.
Conclusion: A Turning Point
As I reflect on this assignment from 2012, I realize it was more than just a classroom activity. It was a turning point for many students, as it gave them a glimpse into the real world of business and entrepreneurship. They didn't just learn about starting a business, they lived it.
The confidence, teamwork, and practical skills they developed are the kinds of educational outcomes that signify true learning. And for me, as an educator, it was a reaffirmation of the power of innovative pedagogy.
Until my next post, keep innovating and inspiring...
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