Tag Archives: Business Plan

A Sustainable Business Project in a Collaborative and Virtual Classroom (Published)

The university setting is the appropriate place to develop global and virtual abilities. Some disciplines include the multicultural dimension in their programs but the intercultural contact is often missing. Working with an international team, practicing negotiation strategies and using effective decision-making processes are examples of important elements that all professionals should master. These intercultural skills are better learned through first-hand experience (Kolb, 1984). For this reason, an intercultural and academic initiative has taken place between Universidad Nacional (UNA) in Costa Rica and FH Münster of Applied Sciences in Germany. The partnered project focuses on the elaboration of a collaborative project among students from different backgrounds (Costa Ricans and Germans; mainly) to obtain a final negotiated outcome in the elaboration of a sustainable business plan. Participants are 28 university students of an English Integrated course with emphasis on Business English from Universidad Nacional (UNA) in Costa Rica and 17 students from the Administration major taking a Business English class from FH Munster.  This research aims two main goals: firstly, to include specific intercultural objectives in university courses and secondly; to give university students the opportunity to work with students from another university in a different part of the world and build intercultural teams.

Keywords: Business Plan, Intercultural Competence, collaborative groups, sustainable project

The Valuation of Student Entrepreneurs and Their Business Plans Using Factor Analysis (Published)

This work analyzes investor assessment of students’ business plan, with the hope of boosting their confidence level as they venture into business. The main goal of this study is to prove if investor support programs can assist students to get requisite know-how in becoming entrepreneurs, such that they could be great business tycoons after school. Conscientiousness or due diligence in entrepreneurship could be an approach of a modern-day investor to increase the confidence level of entrepreneurs being groomed in universities by identifying entrepreneurial skills in students and mentoring them. This forms a part of the investors’ strategy to make use of internal resources and skills, as well as opportunities and risks created by its external environment in venturing into a business. The entrepreneur is usually seen as an innovator, a source of new ideas, resources and business dealings. Identifying business opportunities, self-confidence and seed capital were found to be the most important attributes in motivating students to start a new venture. The authors of this study performed this kind of research using Factor Analysis.

Keywords: Business Plan, Entrepreneurship, Investors, Students


The objective of this study is to highlight the importance of the use of BMC to the entrepreneurs and the academic world. In pursuing this objective, the authors want to discuss the BMC problems and criticism and show its variations in order to help entrepreneurs use these models in the right way ‚and successfully plan their businesses. The shortcomings and weaknesses of the model will then be compared with experiences made in the class ‘Entrepreneurship II’ offered in a undergrad course of Business at a Brazilian university in the state of São Paulo. The experience with them highlighted the importance of the use of BMC and it was helpful in developing their business plans. The contribution of this study to the body of knowledge is to fill the vacuum that exists in terms of academic study concerning the use of Business Model Canvas by the entrepreneurs when developing their business plan as well as to advance research in the areas of small and medium enterprises

Keywords: Business Model, Business Model Canvas, Business Plan, Entrepreneurs, Small and Medium Enterprises