From Classroom Theory to Real Business Experience
Entrepreneurship education can provide students with knowledge about business operations, marketing, financial literacy, and strategic decision-making. However, the Gordon College study suggests that theoretical knowledge becomes more valuable when students can apply it in realistic situations.
The researchers found that students highlighted activities such as product selling, business simulations, product launches, business planning, case studies, presentations, field visits, and academic projects as important experiences.
Faculty Mentorship Builds Confidence
Faculty members also emerged as an important part of the students’ entrepreneurial development.
Students described instructors as sources of practical knowledge, motivation, guidance, and real-world examples. Constructive feedback helped students identify weaknesses in their business ideas, evaluate alternatives, and develop ideas that were more realistic and practical.
Financial Independence Is a Major Motivation
The students’ entrepreneurial ambitions were not driven by education alone. Personal motivation and family background also influenced their interest in starting businesses.
Participants identified financial independence, personal growth, achievement, autonomy, and the desire to become their own bosses as important motivations. Some students also had early exposure to selling activities or family businesses, giving them an opportunity to become familiar with entrepreneurship before entering the professional world.
At the same time, entrepreneurship was not viewed as risk-free.
Students identified several barriers, including:
- Fear of business failure and self-doubt
- Financial risk and limited resources
- Competition and uncertainty
- Lack of experience
- Pressure associated with managing a business
- Concerns about their own entrepreneurial abilities
Despite these challenges, participants described resilience as an important factor. Some viewed failed projects, low sales, rejection, and mistakes as opportunities to learn and improve. Seeking advice from mentors, reflecting on previous experiences, planning strategically, and maintaining a positive mindset were among the approaches students used to deal with uncertainty.
Family, Peers and Social Media Also Matter
The study also found that entrepreneurial ambition develops beyond the classroom.
Family members, friends, mentors, local businesses, and digital platforms all influenced how students perceived entrepreneurship. Family support could provide encouragement and early exposure to business, while peers could contribute ideas, collaboration, and motivation.
Students also reported learning from entrepreneurs they encountered through social media and community environments. Online success stories, marketing strategies, new business ideas, and digital tools expanded students’ understanding of possible entrepreneurial opportunities.
These findings suggest that entrepreneurial development is shaped by a combination of academic, personal, and environmental influences rather than by classroom education alone.
Implications for Universities and Business Education
For universities, the findings point toward a practical approach to entrepreneurship education.
Gordon College could strengthen entrepreneurial preparation by expanding activities such as live selling, business simulations, business incubators, and partnerships with industry professionals. The researchers also recommended seminars, workshops, networking opportunities, and direct engagement with entrepreneurs.
Faculty members can further support students through case studies, simulations, collaborative projects, interactive teaching, and consistent feedback. Mentorship programs may also help students manage fear of failure and develop greater confidence before entering the business world.
The implications extend beyond Gordon College. For business schools more broadly, the study illustrates the potential value of combining academic knowledge with experiential learning. Students may be better prepared for entrepreneurial careers when they can practice business decisions in environments that resemble real commercial situations.
However, the researchers caution that the findings should not be generalized to all university students. The study focused on only 15 BSBA Marketing Management students at Gordon College. Future research could include students from different programs and institutions, larger samples, and additional factors such as access to capital, technological readiness, and cultural influences.
Author Profile
Vincent Niko M. Montes is the corresponding author of the study and is affiliated with Gordon College, Philippines. The article identifies Montes and eight co-authors—Krizzel-Ann Obin, Adrian Jose Paguio, Nathaniel Ilagan, Romelo Lagana Jr., Antonette Callo, John Christopher Arceo, Joy Ann Ragasa, and Roger Idos—as researchers affiliated with Gordon College.
The article does not provide the academic degrees or individual professional fields of expertise of the authors. Accordingly, those details are not added here to avoid presenting unsupported information.
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