This document discusses using an autobiography in an undergraduate entrepreneurship course to supplement traditional textbooks. It describes how educators used How to Succeed in Business Without Being White to provide students a real-life case study illustrating entrepreneurship concepts. The autobiography augmented students' learning by describing one entrepreneur's experiences starting businesses. It also provided examples for students to analyze and apply course theories in exams and essays.
An Investigation of Teachers’ Questions and Tasks to Develop Reading Comprehension: The Application of the Cogaff Taxonomy in Developing Critical Thinking Skills in Malaysia
This document discusses using an autobiography in an undergraduate entrepreneurship course to supplement traditional textbooks. It describes how educators used How to Succeed in Business Without Being White to provide students a real-life case study illustrating entrepreneurship concepts. The autobiography augmented students' learning by describing one entrepreneur's experiences starting businesses. It also provided examples for students to analyze and apply course theories in exams and essays.
This document discusses using an autobiography in an undergraduate entrepreneurship course to supplement traditional textbooks. It describes how educators used How to Succeed in Business Without Being White to provide students a real-life case study illustrating entrepreneurship concepts. The autobiography augmented students' learning by describing one entrepreneur's experiences starting businesses. It also provided examples for students to analyze and apply course theories in exams and essays.
This document discusses using an autobiography in an undergraduate entrepreneurship course to supplement traditional textbooks. It describes how educators used How to Succeed in Business Without Being White to provide students a real-life case study illustrating entrepreneurship concepts. The autobiography augmented students' learning by describing one entrepreneur's experiences starting businesses. It also provided examples for students to analyze and apply course theories in exams and essays.
illustrate leadership, membership, struc- enhanced understanding of entrepreneur- were told that textbook concepts and ture, values, organizational culture, and ial practice” (Rae, 2004, p. 196). “Some theories would be illustrated throughout socialization. Mystery novels were used popular literary novels as well as auto- the semester via various media, which by Cowden (1989) to illustrate con- biographical accounts, many times of a included practicing entrepreneurs (i.e., cepts and theories in an organizational motivational sort, have served as vehicles guest speakers), periodicals (e.g., Wall behavior and human resources course. for informal business education, from Street Journal, Fortune, Black Enter- Comer and Holbrook (2005) relied on Horatio Alger’s ‘rags to riches’ stories, prise), and Graves’ (1998) autobiogra- Dr. Seuss stories to reinforce course to autobiographies such as Iacocca’s, phy. Examples from these sources were concepts in a management and organi- and personal accounts of life in organi- incorporated into class lectures and zational behavior course. Other authors zations, such as Lewis’s Liar’s Poker” student discussions. The evaluation of have also used novels to teach various (Alvarez & Merchan, 1992, p. 29). In students’ mastery of content (i.e., ability organizational behavior concepts (Con- How to Succeed in Business Without to apply textbook theories and concepts way, 1990; Shaw & Locke, 1993). Being White: Straight Talk on Making to real-world events) discussed by the Although the aforementioned uses of It in America, Graves (1998) used “his guest speakers, in the periodicals, and novels and short stories in the manage- own story (which included careers in the by Graves was conducted via multiple- ment classroom are extensive, the cov- military, real estate, and public service choice exam questions and short-answer erage of entrepreneurship concepts and as an assistant to Senator Robert F. Ken- essay questions. (Sample multiple- theories has not received much attention. nedy), and those of dozens of other black choice exam questions can be obtained The minimal coverage might possibly be men and women who have made it in the from the authors upon request.) attributed to the fact that entrepreneur- business world, [to offer] inspirational The following section provides an ship is an emerging field (Katz, 2003); and down-to-earth advice to help read- analysis of a sample of relevant course hence, “research and knowledge about ers take advantage of opportunities to content areas for several of the chap- how to teach entrepreneurship remains achieve personal and professional suc- ters in Kuratko and Hodgetts’ (2004) relatively underdeveloped” (Kirby, 2004, cess” (HarperCollins, n.d.). textbook. Chapter headings have been p. 518). In this article, we describe how provided for easy reference to the appli- an autobiography, How to Succeed in Procedure cable subject matter. Cross-references Business Without Being White: Straight have also been provided, where appli- Talk on Making It in America (Graves, The undergraduate general entre- cable, to Barringer and Ireland’s (2006) 1998) was used in a general undergradu- preneurship class (Management 351) textbook. ate entrepreneurship course to augment that used this autobiographical teaching the learning opportunities for entrepre- pedagogy presents a thorough review Analysis neurship students. This learning modal- of the entrepreneurship culture and the Entrepreneurship: An Evolving ity provided students with a real-life, evolution of entrepreneurship as a dis- Concept three-dimensional entrepreneurial case cipline. The objective of the course is study that illustrates the concepts and to take students on an entrepreneurial During his 3 years on Robert Kenne- theories discussed in traditional entrepre- journey—from the decision to become dy’s staff, Earl Graves “received an edu- neurship textbooks. an entrepreneur to the development of cation in the use of power and money “The life stories of entrepreneurs offer successful business ideas through the in this country. . . . [He] saw firsthand students of entrepreneurship insight into movement from an idea to an entre- what sort of freedom could be had with both the explicit and the tacit knowl- preneurial firm to the management and wealth and power. [He] became even edge of working entrepreneurs” (McK- growth of an entrepreneurial firm (Pear- more determined to claim at least some enzie, 2005, p. 37). A testament to this son Prentice Hall, n.d.). of it” (Graves, 1998, p. 12). “The years viewpoint is provided by Mark Cuban, Students in the undergraduate general [Graves] spent on [Kennedy’s] staff had owner of the Dallas Mavericks, who entrepreneurship course were required a lasting impact on [him] and how [he] stated, to read Entrepreneurship: Theory, Pro- approached [his] business and social cess, and Practice (Kuratko & Hodgetts, responsibilities” (Graves, 1998, p. 13). There is much more to starting a business than just understanding finance, account- 2004) and Entrepreneurship: Success- The aforementioned facts illustrate the ing, and marketing. Teaching kids what fully Launching New Ventures (Barrin- environmental school of thought in the has worked with startup companies and ger & Ireland, 2006) for the spring 2005 macro view of entrepreneurship (Kurat- learning about experiences that others and fall 2005 semesters, respectively. ko & Hodgetts, 2004). have had could really make a difference. I These traditional entrepreneurship text- Graves (1998) believed that he know it did for me. (Gray, 2006, p. 42) books were supplemented by the auto- “absorbed a great deal of his business “[T]he ‘practical theories’ of entre- biography How to Succeed in Business sense—as well as [his] penchant for preneurship are constantly reconstructed Without Being White: Straight Talk on doing business deals” (p. 9) by watching in the accounts of entrepreneurs who Making It in America (Graves, 1998). and listening as his father sold clothes on are making sense and creating meaning At the beginning of each semester, consignment out of their home. His father within their social context, and . . . this students (N = 128) who were enrolled also taught him salesmanship, hard work, knowledge can be used to develop an in three sections of Management 351 and discipline (Graves). In a description
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of his mother, Graves stated that “she The following statement by Graves The aforementioned advice illustrates loved to have fun and was supportive of (1998) illustrates the seeking and using the functional perspective toward things everything her children were involved in, feedback characteristic of entrepreneurs and people, “which views things and from ice skating to Cub Scouts” (Graves, (Kuratko & Hodgetts, 2004). people in terms of how they can be used p. 8). The aforementioned facts from to satisfy one’s needs and to help com- When I worked with Kennedy, I was Graves’ childhood support the entrepre- always asking others how they thought I plete a project” (Kuratko & Hodgetts, neurial trait school of thought in the was doing within his organization. Some- 2004, p. 144). micro view of entrepreneurship (Kuratko times I would have to make corrections If you believe that the magazine & Hodgetts, 2004). and adjustments to my style in order to be Black Enterprise is a new use or dif- more efficient within the demanding and hard-charging culture of his office. You ferent application of an already existing Intrapreneurship: Developing must continuously monitor your status product, service, or process, then Black Corporate Entrepreneurship and your vulnerability in the constantly Enterprise would be classified as an shifting work environment. extension type of innovation (Graves, Graves provided “11 Tips for Job- 1998; Kuratko & Hodgetts, 2004). There Hunting in Workplace 2000” (Graves, “In general, stress can be viewed as are several internal and external areas 1998, pp. 65–69). One of those tips was a function of discrepancies between that serve as innovation sources. One to “think of yourself as an entrepreneur, a person’s expectation and ability to such source is a process need, which even if you are an employee . . . [because] meet demands, as well as discrepancies exists whenever a demand arises for the the entrepreneurial mind set is increas- between the individual’s expectations entrepreneur to innovate and answer a ingly valued by organizations that are and personality” (Kuratko & Hodgetts, particular need (Kuratko & Hodgetts). reshaping themselves and the way they 2004, p. 124). Graves (1998) provided Entrepreneurial alertness is the ability view their employees” (p. 69). “a few general guidelines to help cope to notice such things without engaging The growth of intrapreneurship or with stress in the workplace” (p. 113). in deliberate search (Barringer & Ire- corporate entrepreneurship can be One of these guidelines was to strike land, 2006). For example, attributed to such factors as “a rapidly a balance in your life, entailing the growing number of new and sophisti- removal of yourself from stressful situ- [Earl Graves] hadn’t been on [Morgan ations. Graves relieved the stress in his State’s] campus long when [he] realized cated competitors, a sense of distrust that Homecoming week was approaching in the traditional methods of corpo- life by skiing in the winter and remodel- and there was a big market for flowers for rate management, an exodus of some ing his house. all the ladies who would be attending. . . . of the best and brightest people out of The most important characteristic [He] went to two competing local florists corporations to become small-business shared by successful entrepreneurs is a and cut deals with both to sell flowers on passion for the business. This typical- campus, where these White merchants rare- entrepreneurs, and an overall desire to ly ventured. For a percentage of the profits, improve efficiency and productivity” ly stems from the entrepreneur’s belief they provided flowers and [he] covered the (Kuratko & Hodgetts, 2004, p. 52). that the business will positively influ- campus. (Graves, 1998, pp. 9–10) ence people’s lives (Barringer & Ireland, Many [corporations] have found that their “Some common mental habits that past pursuit of profits has been at the 2006). For example, “the publication expense of building relationships with [Black Enterprise] was committed to the inhibit creativity and innovation are customers. Now they are looking for task of educating, inspiring, and uplifting ‘either-or’ thinking, security hunting, employees with entrepreneurial leader- its readers. [Earl Graves’] goal was to stereotyping, and probability thinking” ship skills who can get close to customers show them how to thrive professionally, (Kuratko & Hodgetts, 2004, p. 148). In and make decisions on how best to serve the following passage, it appears that them and secure their business. (Graves, economically and as proactive, empow- 1998, p. 69) ered citizens” (Graves, 1998, p. 16). stereotyping hindered the White adver- tising community’s creativity and inno- Intrapreneurial characteristics include Developing Creativity and vation. In the spring of 1971, Graves (a) a generalist point of view, (b) an Understanding Innovation called a strategy meeting in the Bahamas action orientation, (c) an optimistic to bring together the Black Enterprise approach, and (d) a dedication to new According to Graves (1998), one way advertising sales staff with several impor- ideas (Kuratko & Hodgetts, 2004). to deal with the nuisance factor of race tant clients, including Justin Gerstle, the is to “storm the castle” (p. 30). For senior vice president for media sales of example, Ted Bates Advertising Agency, which Understanding the represented one of [Black Enterprise’s] Entrepreneurial Perspective [i]f [you] want to get to the CEO of a major advertisers. From the moment as Individuals company and [you] can’t do it by going [Gerstle] sat down, he told [Graves’] staff in the front door, [then] sit down and in the bluntest terms possible that while Publications are one of the three examine the individual. What corporate he believed in Black Enterprise and its major sources of information related to or charitable boards does the CEO sit on? mission of self-determination, he felt it the entrepreneurial perspective. Black Whom do [you] know on those boards? was going to be a tremendous challenge What private clubs does he or she belong to sell advertising for a magazine aimed Enterprise is an example of a venture to? What church? Where do his or her at the black community to corporations periodical type of publication (Graves, children go to school? Whom do [you] and advertising agencies dominated by 1998; Kuratko & Hodgetts, 2004). know that might get [you] inside? (p. 31) white males. “The white advertising com-
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munity sees black people as drinking half edge that part of my role as a Black techniques, you must first have an inti- pints of liquor and driving used cars” he businessman is to develop talented and mate knowledge of the people buying told [Graves’] staff. (1998, pp. 24–25) ambitious people and give them the your services or products” (p. 152). “The real barriers to creative thinking tools they need to fly on their own” Primary research about consumers can are sometimes the inadvertent ‘killer (Graves, 1998, p. 121). The aforemen- be obtained through surveys, which phrases’ we use in our communication” tioned example illustrates the human include mail, telephone interviews, (Kuratko, & Hodgetts, 2004, p. 140). resources area of social responsibility personal interviews, and the Internet Idea stoppers or racist refrains, such (Kuratko & Hodgetts, 2004). (Barringer & Ireland, 2006; Kuratko & as the following, did not stop Graves Social responsibility has three dis- Hodgetts, 2004). (1998) from turning his magazine into tinct categories. The most proactive To identify specific market segments, a reality: “Well, what you say makes position for a corporation to take in entrepreneurs need to analyze a number sense, but we’re not interested. We don’t regards to social responsibility would of variables. One such variable is demo- want our product associated with Afri- be termed social responsiveness (Kurat- graphics, which include age, gender, per can Americans. There aren’t enough ko & Hodgetts, 2004). This category of capita income, and geographic location black people out there interested in our social responsibility was illustrated by (Graves, 1998). Consumer types include product” (p. 23). Black Enterprise when it moved its innovators, early adopters, early major- Graves (1998) was in Barbados, his 1996 Golf & Tennis Challenge from ity, late majority, and laggards (Kuratko grandparents’ native land, when he its planned site at La Quinta Resort & Hodgetts, 2004). “realized that true power lies not in and Club in La Quinta, California, to Entrepreneurs often think about price government, but in business” (p. 14). protest the state’s attacks on affirma- when mapping out a marketing plan This insight, which led to his starting a tive action. It was not the first time the (Graves, 1998). “Much psychology consulting business for Black economic Challenge made its substantial clout goes into properly pricing a product development, is the third step or stage felt on behalf of African Americans or service. A premium product that is in the creative process (Barringer & (Graves, 1998). discount priced may not sell, because Ireland, 2006). people won’t perceive its true value” “The term window of opportunity is Environmental Assessment: (Graves, p. 151). The fact that most buy- a metaphor describing the time period Preparation for a New Venture ers expect to pay even-numbered prices in which a firm can realistically enter for prestigious items and odd-numbered According to Graves (1998), entre- a new market” (Barringer & Ireland, prices for commonly available goods is preneurs “should learn as much as pos- 2006, p. 29). For example, another psychological factor affecting sible about their opponents in the mar- pricing (Kuratko & Hodgetts, 2004). In 1969, President Nixon signed Execu- ketplace. Simply learn who they are, tive Order 11458, which directed the U.S. what they do and how they sell. Inves- Financial Preparation for Secretary of Commerce to coordinate tigate their strengths and weaknesses” the federal government’s efforts to pro- Entrepreneurial Ventures (p. 153). Strengths and weaknesses mote minority enterprise. . . . The Office of Minority Business Enterprise, now are part of the capabilities component Young, rapidly growing companies short known as the Minority Business Devel- of a competitive analysis (Kuratko & on cash flow but high in product demand opment Agency, came into being, along Hodgetts, 2004). This competitor infor- should consider a financing mechanism with minority enterprise small-business mation should be assessed in an industry called “factoring.” A factor is a third- investment companies, minority set-aside party investor that buys the company’s or market feasibility analysis (Barringer receivables, thus allowing for quicker programs and other initiatives aimed at advancing black economic development. & Ireland, 2006). Graves recommend- payments. Factoring offers a number of (Graves, 1998, p. 15) ed that the market analysis section of benefits to cash-starved companies that an individual’s business plan include can use the money to meet payroll, fund “These events further convinced a description of “industry trends and marketing campaigns or provide working [Graves] that the time was ripe for a capital. (Graves, 1998, p. 178) what the future may hold” (p. 142). A magazine devoted to economic devel- number of useful steps can assist an The day-to-day challenge of firm opment in the African American com- entrepreneur in examining the industry. growth that Graves referred to is cash- munity” (Graves, p. 16). One of the steps includes establishing flow management (Barringer & Ireland, the value-added measure of the new 2006). Ethical and Social Responsibility venture. This step involves the concept Challenges for Entrepreneurs of contribution analysis, which calcu- Developing an Effective lates sales minus raw materials costs Business Plan Social responsibility consists of (Kuratko & Hodgetts, 2004). obligations a business has to society. A business plan is the entrepreneur’s Graves accepted this responsibility. He roadmap for success, and it details the Marketing Research for New stated that “Black-owned companies proposed venture. It is the minimum Ventures do more than provide jobs. They pro- document required by financial sources vide training . . . . Although it always Graves (1998) stated that “before you and allows the entrepreneur entrance hurts to lose good people, I acknowl- can begin to improve your marketing into the investment process (Graves,
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1998). The executive summary, which York City. His encounter with a fel- are secured by receivables, inventories, is the first section of a business plan, low passenger led to his ownership of and other assets (Kuratko & Hodgetts, should be written only after the entire “Pepsi-Cola of Washington, DC, L.P., 2004). The two major advantages of business plan has been completed and the nation’s largest minority-controlled getting a loan relative to investment should be no longer than two to three Pepsi bottling franchise” (Graves, 1998, capital are that no ownership in the firm pages (Graves). It is important that an p. 5). In a limited partnership, the lim- is surrendered and that interest pay- entrepreneur serve as the primary author ited partners are liable only for the ments are tax deductible (Barringer & of his or her business plan. amount of their capital contributions Ireland, 2006). The following information shared by (Kuratko & Hodgetts, 2004). One of the advantages of going pub- Graves (1998) regarding the presentation “Under federal law, each franchise is lic is that “the marketplace puts a value of a business plan illustrates the planning required to give [potential franchisees] on the company’s stock, which in turn pitfall of no commitment or dedication access to its Uniform Franchise Offer- allows value to be placed on the cor- (Kuratko & Hodgetts, 2004). ing Circular, which offers information poration” (Kuratko & Hodgetts, 2004, Over the years I have had dozens of about the company’s finances as well p. 484). people pitch me on their business plans as details of the franchise agreement” [Jacob R. Miles, III], successfully and I can spot the ones who won’t make (Graves, 1998, p. 136). launch[ed] one of the nation’s first black- it. How? They are the ones who almost owned full-line toy companies, Cultural But is [franchising] for everyone? No, it collapse on the floor and weep if I ques- Exchange Corporation. Although the is not. First, you need to consider whether tion any aspect of their presentation. They Minneapolis-based company sold more your personality is suited to franchising are the people who don’t really believe in than $650,000 worth of toys in its first because even if you have the traits that what they are doing. They lack real com- year, Miles had a serious problem. He make for a good entrepreneur, this type mitment. (Graves, pp. 146–147) could not raise enough capital to finance of entrepreneurship has its own unique requirements and challenges, particularly the company’s rapid growth. . . . Turned According to Graves (1998), “not only away by the banks, Miles toyed with the for African Americans. (Graves, p. 132) should a business plan display some pas- notion of an initial public offering (IPO) sion, but it should be pragmatic. Sugar- Qualities to look for in prospective needed to raise $20 million before invest- coated scenarios are quickly rejected. A franchisees include (a) the ability to fol- ment banks would underwrite the IPO. best-case, worst-case and most-likely- low instructions, (b) experience in the (Graves, 1998, pp. 172–173) case should be presented to investors, industry in which the franchisee oper- Firms decide to go public for several lenders, or potential business partners” ates, (c) the ability to operate with mini- reasons. First, it is a way to raise capital (p. 147). The aforementioned advice mal supervision, (d) adequate financial to fund current and future operations would fall under the avoid-exaggeration resources, and (e) a good credit history . . . . Second, an IPO raises a firm’s guideline for successful business plan (Barringer & Ireland, 2006). public profile, making it easier to attract development. In the first meeting, high-quality customers, alliance part- investors typically focus on whether the Sources of Capital for ners, and employees. Third, an IPO is management team has the skills and Entrepreneurs a liquidity event that provides a mecha- experience to pull off the venture and nism for the company’s stockholders, “The use of debt to finance a new whether a real opportunity exists (Bar- including its investors, to cash out their venture involves a payback of the funds ringer & Ireland, 2006). Graves (1998) investments. Last, by going public a plus a fee (interest) for the use of the started Black Enterprise magazine and firm creates another form of currency money. Equity financing involves the his Pepsi franchise without and with a that can be used to grow the company sale of some of the ownership in the business plan, respectively. (Barringer & Ireland, 2006, p. 241). venture” (Kuratko & Hodgetts, 2004, p. 479). Graves used both sources of Venture capital is another potential Legal Structure for New source of funding for a company look- financing. For example, “to launch Business Ventures ing to expand. . . .Venture capital can be Black Enterprise, Chase [Manhattan Franchise owners are often required to tough to get, however. UNC Ventures, Bank] lent [Earl Graves] $175,000; Inc., a Boston-based venture capital firm follow strict guidelines laid down by the $150,000 was debt, and $25,000 bought franchisor, which owns the trademark and that has helped more than 50 businesses concept. Those guidelines often prede- Chase a 25 percent stake in [his] busi- owned by minorities since 1971, receives termine how the business will be run, ness” (Graves, 1998, p. 155). about 200 proposals a year. Only 3 or 4 a which can be good, but they can also “After Kennedy’s death [Earl Graves] year are actually funded. (Graves, 1998, restrict your own approach to marketing p. 174) secured a $25,000 loan from Citibank and delivering your service or goods. to launch [his] consulting business. In An important part of obtaining (Graves, 1998, p. 136) all these years, with the exception of venture-capital funding is going through The preceding text describes the disad- that first loan, [he has] never had to “the due diligence process, which refers vantage of franchising known as fran- personally guarantee a penny” (Graves, to the process of investigating the merits chisor control. 1998, p. 155). About 8,000 commercial of a potential venture and verifying the Graves’ (1998) initial franchise busi- banks operate in the United States today. key claims made in the business plan” ness began with a first-class ticket on Although some banks will make unse- (Barringer & Ireland, 2006, p. 240). a flight from Washington, DC, to New cured short-term loans, most bank loans The due diligence process dispels the
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myth that venture capitalists are quick 8(a) program was one of the events that use this pedagogy with other autobi- to invest (Kuratko & Hodgetts, 2004). “further convinced [Earl Graves] that ographies or biographies. Examples the time was ripe for a magazine devot- include Why Should White Guys Have Managing Entrepreneurial ed to economic development in the Afri- All The Fun? (Lewis & Walker, 1995); Growth can American community” (Graves, p. Business at the Speed of Thought: Suc- 16). To be eligible for the 8(a) program, ceeding in the Digital Economy (Gates, “The set of opportunities a firm feels a small business must be owned and 1999); Business as Unusual: My Entre- it is capable of pursuing is referred to as controlled by a socially and economi- preneurial Journey, Profits With Prin- the product opportunity set” (Barringer cally disadvantaged person. Successful ciples (Roddick, 2005); Prescription for & Ireland, 2006, p. 315). For example, applicants have to meet applicable size Success: The Life and Values of Ewing about ten years ago, [Earl Graves] decid- standards for small business concerns, Marion Kauffman (Morgan, 1995); and ed to grow [his] publishing business by display reasonable potential for success, Mary Kay: The Story of America’s Most creating a black “shelter” magazine along the line of Better Homes & Gardens and display good character (Kuratko & Dynamic Businesswoman (Ash, 1994). but with more zip. Letters sent to Black Hodgetts, 2004). Enterprise subscribers to test the waters NOTES got a very good response. [Earl Graves] Conclusion was convinced that [they] had a runaway Dr. Minnette A. Bumpus’ research interests are entrepreneurship, leadership, and diversity in train with the concept, which was called “Today entrepreneurship education the workplace. Verve magazine. (Graves, 1998, p. 171) Mr. Gerald Burton’s research interests are is the fastest-growing course of study [Jacob R. Miles, III] used $400,000 in entrepreneurship and organizational behavior. on campuses nationwide” (Gray, 2006, Correspondence concerning this article should retirement and severance pay from his p. 36). “Virtually, all schools with Amer- be addressed to Dr. Minnette A. Bumpus, Univer- corporate employer to successfully launch sity of the District of Columbia, School of Busi- one of the nation’s first black-owned full- ican Assembly of Collegiate Schools of ness and Public Administration, 4200 Connecticut line toy companies, Cultural Exchange Business (AACSB) accredited MBA or Ave., NW, Washington, DC 20008, USA. Corporation. Although the Minneapolis- 4-year degrees, as well as nearly all E-mail: minnettebumpus@hotmail.com based company sold more than $650,000 nationally ranked schools, are already worth of toys in its first year, Miles had REFERENCES a serious problem. He could not raise teaching entrepreneurship” (Katz, 2003, enough capital to finance the company’s pp. 290–291). “In the midst of this huge Alvarez, J. L., & Merchan, C. (1992). The role of rapid growth. (Graves, pp. 172–173) expansion . . . remains the challenge of narrative fiction in the development of imagina- teaching entrepreneurship more effec- tion for action. International Studies of Man- This type of growth has a growth rate of agement & Organization, 22, 27–45. tively” (Kuratko, 2006, p. 486). One Ash, M. K. (1994). Mary Kay: The story of at least 20% per year for 5 consecutive method for meeting this challenge is to America’s most dynamic businesswoman. New years (Barringer & Ireland, 2006). York: Harper Perennial. expose students “to those entrepreneurs Barringer, B. R., & Ireland, R. D. (2006). Entre- who have paid the price, faced the chal- preneurship: Successfully launching new ven- Women and Minority lenges, and endured the failures. We tures. New York: Pearson Prentice Hall. Entrepreneurship Benson, G. L. (1992). Teaching entrepreneurship must take the lessons learned from our through the classics. Journal of Applied Busi- experienced entrepreneurs’ ‘make a dif- ness Research, 8(4), 135–140. [T]he reality is that people embarking on business careers, or merely trying to stay ference’ idea” (Kuratko, 2005, p. 589). Bumpus, M. A. (2000). Brothers and sisters: A in the game, are going to have to be high- “The life stories that entrepreneurs tell novel way to teach human resources manage- ment. Journal of Management Education, 24, ly competitive. That means you will need represent their attempt to make sense 366–377. a strong background, good education and of the events of their past” (McKenzie, Comer, D. R., & Holbrook, R. L., Jr. (2005). All I a dedication to lifelong learning. You will really need to know I learned in Kindergarten: also need continuous computer training, 2005, p. 37). Exposure to these life sto- How Dr. Seuss reinforces management concepts flexibility, networking skills and the abil- ries can be achieved through the integra- and promotes community citizenship. Journal ity to market yourself as a commodity in tion of biographies or autobiographies of Management Education, 29, 870–887. a tight market. . . .Your level of education of entrepreneurs into the entrepreneur- Cone, J. (2005). Entrepreneurship, colle- will be a major determinant of your abil- giate entrepreneurship. Retrieved April 14, ship course curriculum. This exposure 2008, from http://www.kauffman.org/items. ity to compete. (Graves, 1998, p. 63) can be further enhanced by inviting liv- cfm?itemID=716 Education in business skills is one of ing entrepreneurial legends to class to Conway, J. A. (1990). OB for school administra- tors: Using the humanities to encourage student the two most frequently cited areas that participate in book club discussions of writing and reward other intelligences. Orga- need improvement for minority entre- their autobiographies. nizational Behavior Teaching Review, 14(4), preneurs. The second area is access to How to Succeed in Business Without 131–134. Cowden, A. C. (1989). Mystery novels as orga- start-up capital (Kuratko & Hodgetts, Being White: Straight Talk For Making nizational context. Organizational Behavior 2004). It in America offers one example of Teaching Review, 14(2), 93–101. “In 1968, the Small Business Admin- how an autobiography can be used to Gates, B. (1999). Business at the speed of thought: Succeeding in the digital economy. New York: istration launched its redistricted- provide students with a real-life, three- Time Warner. competition 8(a) set–asides program to dimensional entrepreneurship case Graves, E. G. (1998). 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An Investigation of Teachers’ Questions and Tasks to Develop Reading Comprehension: The Application of the Cogaff Taxonomy in Developing Critical Thinking Skills in Malaysia