First year students from various business disciplines at the International University for the Humanities and Development (IUHD) in Turkmenistan participated in a project-based competition designed and conducted by English Language Fellow Mary Lisa Gustafson.
The competition, titled Project ENTREPRENEUR, took place over a 12-week period and allowed both teachers and students to increase their understanding of business vocabulary and concepts. During the course of the competition, students completed a series of activities that helped them learn about the challenges and obstacles facing new entrepreneurs.
Students created hypothetical businesses based on the needs or desires of the current market. After writing a business plan, students “conducted business” and balanced accounts. After a few weeks of activity, students prepared financial statements and determined a profit or loss for the period.
Project ENTREPRENEUR held a two-day exhibit to highlight the student’s work for their mock-businesses where they presented their business models to judges as well as university, administrators, faculty and the student body.