Rethinking Competition-based Entrepreneurship Education in Higher Education Institutions: Towards an Effectuation-informed Coopetition Model

Watson, Kayleigh and McGowan, Pauric (2019) Rethinking Competition-based Entrepreneurship Education in Higher Education Institutions: Towards an Effectuation-informed Coopetition Model. Education + Training, 62 (1). pp. 31-46. ISSN 0040-0912

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Abstract

Purpose:This paper takes focus with the university-based Business Plan CompetitionBPC and proposes how the theory of effectuation might inform a new model.Such a purpose is timely given the under-challenged nature of the BPCmethodology.Approach:Extant literature pertaining to business planning and the business plan withinentrepreneurship education and effectuation is reviewed; numerous conceptualissues which undermine BPC provision in its traditional form are then identified.In response to these identified issues, a series of principles which could underpinthe introduction of an Effectuation-led Business Coopetition EBC are outlined.Findings:Strong emphasis on business plan production within a conventional BPC modelraises questions about its capacity to release the entrepreneurial potential of theHEI student and provide them with an authentic and relevant entrepreneuriallearning experience. Through using the ideas of effectuation to rethinkprovision, the action of business plan production can usefully be replaced withthe action of business implementation. As well as facilitate a beneficial shiftfrom competition to coopetition-based entrepreneurship education.Originality/Value:This paper valuably critiques the efficacy of a commonly employed yet underchallenged methodology for entrepreneurship education; the BPC. Thepropositions offered can guide competition provision in a more authentic,realistic and relevant way that is potentially better suited to inspiring andsupporting entrepreneurial new venturing amongst students and graduates nowrather than in the future. The paper thus has practical value to those designingand delivering competition-based entrepreneurship education.

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