Community Connections

financial coaching is also offered through the Grant Thornton – UPEI Entrepreneurial Playground. Being an entrepreneur comes down to the desire to take on the challenge, and the Faculty of Business is here to support you in that journey.

Matthew Pauley How can you become an entrepreneur? The fact is— everyone can be an entrepreneur. Unfortunately, the most common misconception is that you are either born as an entrepreneur or that you need to have the perfect idea to get started. The reality is that building a successful business takes creativity, time, effort, and help from mentors. Rome was not built in a day; it took Robert Kahn and Vint Cerf over a decade to develop what we now know as the internet (Andrews, 2019). Ideas are created in part by knowing your surroundings and listening to what people are complaining about. If you can fix a problem, there is a business opportunity. If you have an idea, then book an appointment at the Hostetter Centre for Enterprise and Entrepreneurship for free guidance and support. Expert REFERENCES Andrews, E. (2019). Who invented the internet? Retrieved on May 28, 2019. https://www.history.com/news/who-invented-the-internet.

Kirzner, I. M. (1973). Competition and Entrepreneurship. University of Illinois at Urbana-Champaign’s Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship.

Organisation for Economic Co-operation and Development (OECD). (2016). Entrepreneurship at a Glance 2016. OECD Publishing, Paris.

Schumpeter, J. (1934). Capitalism, socialism, and democracy. New York: Harper & Row.

By Susan Graham

THE PEI BUSINESS COMMUNITY supports the Faculty of Business in many ways. One way that businesses enhance student learning is by getting involved in classroom learning through “live cases”. In such partnerships, the business works with the professor to create a consultingtype, project-based assignment for students with respect to the current situation or problems facing the business. Students are tasked with preparing and presenting solutions for the business, which can take many forms, from creating a marketing or strategic plan to performing business research or exploring a business idea. This gives students the chance to practice what they have learned in their classes, and to solve real world problems with real businesses.

These partnerships benefit both the students and the businesses and organizations who participate. Demand for these partnerships is high because local businesses know that the results produced by students can help them make better decisions. Businesses regularly contact faculty members to pitch ideas that they think students can work on. Mitch Cobb, co-founder and CEO of UpStreet Craft Brewing said it best, “Students are creative, savvy, and unencumbered by many of the realities faced by small business—this frees them to look at our problems through new lenses and offer unique solutions.”

Not surprisingly, students report higher levels of engagement, motivation, and satisfaction when they partner with local businesses as part of their course work. A few lucky students even win a prize or are able to parlay these assignments into paid work for the summer or after they graduate.

Emily March, a graduate from the 2019 class, noted, “Working with these companies makes what we learn in the classroom more meaningful. It helps us connect the dots between what we are studying and what employers are going to ask us to do when we enter the labour market.”

At the end of the day, this model of partnership just makes sense for all involved. Students get much needed and valued “real-world experience” and local businesses get important work done while helping to shape the labour pool for the future. It’s win-win!