ijems|scientificarticle
TheRoleofChallengeBasedLearning
inImprovingtheEntrepreneurial
MindsetofStudents:ACaseStudy
darioberginc
gea College–FacultyofEntrepreneurship,Slovenia
dario.berginc@gea-college.si
valentinajoštlešer
gea College–FacultyofEntrepreneurship,Slovenia
valentina.jost-leser@gea-college.si
katjakraškovic
gea College–FacultyofEntrepreneurship,Slovenia
katja.kraskovic@gea-college.si
Thearticlehighlightstheinfluenceofvariouselementsofen-
trepreneurialeducationonstudents’entrepreneurialmindset.A
casestudyofteachingentrepreneurshipatgeaCollege–Faculty
ofEntrepreneurship(EntrepreneurshipProgramme),Slovenia,
whichhasbeeninvestingforyearsininnovativeformsofteaching
entrepreneurshipwithanemphasisonchallenge-basedlearning,
ispresented.Weusedalongitudinalqualitativeresearchapproach
toanalysechallenge-basedlearninginterventionsandprogressof
thestudents’entrepreneurialmindset.Alongitudinalanalysiswas
conductedbetween2017and2020.Theresultsshowedthatthe
third-yearstudentsprovidedmoresolutionproposalscomparedto
first-andsecond-yearstudystudents.Theirsolutionstotheprob-
lemsthecompanyfacedinthecasestudyweremoremultidisci-
plinary,interconnectedandtheyshowedmorematurityandcom-
prehensivenessoftheoverviewofthesituation.Studentsinthe
thirdyearalsoshowedahigherdegreeofentrepreneurialmind-
set.Ourresultsconfirmedexistingstudiesthatchallenge-based
learningactivitiespositivelyimpacttheentrepreneurialmindset
andopensanewareaofresearchontheconnectionbetweenthe
studycurriculum,challenge-basedlearninginterventions,andthe
entrepreneurialmindsetofstudents.Wecannotgeneralizethe
resultsmorewidely,buttheycanrepresentgoodpracticeforen-
trepreneurshipfacultiesinplanningtheircurriculum.
volume16|2023|number1|11–34

[12]
DarioBerginc,ValentinaJoštLešer,andKatjaKraškovic
KeyWords:entrepreneurialmindset,entrepreneurialeducation,
challenge-basedlearning,casestudy,Slovenia
https://emuni.si/ISSN/2232-6022/16.11-34.pdf
introduction
Currently,entrepreneurshipisapriorityforeconomic,social,and
technologicalgrowth.Therefore,theinterestinunderstandingen-
trepreneurshipprocesseshasincreasedsignificantly(López-Núñes
etal.2022).Animportantpartofdevelopingentrepreneurialcom-
petenciesisanentrepreneurialmindset.Theentrepreneurialmind-
setisseenasawayofadaptablethinkinganddecision-makingin
complex,uncertainanddynamicenvironments(Naumann2017),as
the‘abilitytorapidlysense,act,andmobilize,evenunderhighlyun-
certainconditions’(McGrathandMacMillan2000,15)andawayof
thinkingortheabilitytoutilizeopportunitiesunderuncertaincon-
ditions(Cui,Sun,andBell2021).
Foradeeperunderstandingoftheconstructoftheentrepreneur-
ialmindset,weneedtounderstandthefactorsthatinfluenceit.
Anoverviewofthestate-of-the-artinresearchonentrepreneurial
mindsethasshownsevenattributesandassociatedqualitiesinflu-
encingentrepreneurialmindset:cognitivetuningandgoalorienta-
tion,heuristic-baseddecisionlogic,alertness,priorknowledge,so-
cialinteraction,meta-cognition,andcognitiveadaptability(Nau-
mann2017).Withintheseattributes,wearemainlyinterestedinthe
priorknowledgeattribute,whichfocusesonthequalityofusingab-
stractknowledgeindifferentsituationsandfordifferentpurposes
andisinfluencedbyexperience,educationandknowledge(Nau-
mann2017).Outofthese,wewillespeciallyfocusoneducationand
knowledge.
Studiesinthisfieldhaveshownthateducationhasapositiveef-
fectontheentrepreneurialmindset(Saadatetal.2021).Here,the
qualityofeducationandtheaddedvaluethatstudentstakeaway
fromeducationareimportant.Theresearchinthisareaconfirms
thatlearningbasedondifferentchallenges,connectedwithpractice,
hasapositiveeffectontheperceptionofknowledgeandthebuilding
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TheRoleofChallengeBasedLearning
[13]
ofstudents’competencies(Salomon2008;Rutkien˙eandTandzegol-
skiene2015;Pech,Řehoř,andSlabová2021).
geaCollege–FacultyofEntrepreneurship(Slovenia)canbean
exampleofgoodpracticeindevelopingtheentrepreneurialmind-
setofstudentsthroughanadaptedstudyprocess,whichislargely
basedonchallenge-basedlearning(Nichols,Cator,andTorres2016).
Moreover,itisalsothekeyreasonthefacultyhasexhibitedgood
practiceinteachingentrepreneurshipwithintheheinnovateini-
tiative.Inadditiontopracticallyorientedlecturesandexercises,
thestudyprocessincludescasestudies,presentationsofbusiness
ideas,guestsfrompractice,excursionstocompanies,studentcom-
petitionsandmanyotheractivitiesthathelptostrengthentheen-
trepreneurialmindsetamongstudents(oecd2021).
Thepurposeofthispaperistochecktheprogressofstudentsin
thecontextofanentrepreneurialmindsetregardingdifferentinter-
ventionsconnectedwithchallenge-basedlearning,aswelltohigh-
lighttheimportanceofeducationinbuildingtheentrepreneurial
mindsetofstudents–especiallythevariousinterventions(chal-
lenge-basedlearning)thatarecarriedoutduringthestudy,andto
highlightthoseinterventionsthathavethemostsignificantimpact
ontheprogressoftheentrepreneurialmindsetofstudents.
literaturereview
EntrepreneurialMindset
Entrepreneursthinkdifferentlyfromnon-entrepreneurs,andwhen
makingdifferentdecisionsinanuncertainenvironment,theyusean
approachthatisrecognizedasanentrepreneurialwayofthinking–
entrepreneurialmindset(Hisrich,Peters,andShepherd2017).The
entrepreneurialmindsetisseenasawayofadaptablethinkingand
decision-makingincomplex,uncertainanddynamicenvironments
(Naumann2017),theabilitytorapidlysense,act,andmobilize,even
underhighlyuncertainconditions(McGrathandMacMillan2000)
andawayofthinkingortheabilitytouseopportunitiesunderun-
certainconditions(Cui,Sun,andBell2021).
Anoverviewofthestate-of-the-artinresearchonentrepreneur-
ialmindsethasshownsevenattributesandassociatedqualitiesin-
volume16|2023|number1

[14]
DarioBerginc,ValentinaJoštLešer,andKatjaKraškovic
fluencingentrepreneurialmindset:cognitivetuningandgoalori-
entation,heuristic-baseddecisionlogic,alertness,priorknowledge,
socialinteraction,meta-cognitionandcognitiveadaptability(Nau-
mann2017).Ifwesimplifythemodel,wecansaythatanindividual
withahighlevelofentrepreneurialmindsetmustbegoal-oriented,
determined,flexible,trainedandinvolvedinthesocialnetwork.
Theseattributesaremorevisiblefromtheoutside,andtheycanalso
bemeasured.Lessvisibleattributesaremetacognitionandcogni-
tiveadaptability,whicharemoredifficulttomeasure,asNaumann
(2017)alsopointsout.
Anotherpieceofresearchthatincludedareviewoftheliterature
onentrepreneurialmindsetfoundthatthreedistinctaspectshave
arisenthroughtheyears:theentrepreneurialcognitiveaspect-how
entrepreneursusementalmodelstothink;theentrepreneurialbe-
haviouralaspect-howentrepreneursengageoractforopportunities;
andtheentrepreneurialemotionalaspects-whatentrepreneursfeel
inentrepreneurship(Kuratko,Fisher,andAudretsch2021).Accord-
ingtothismodel,wecouldsaythatanindividualwithahighlevel
ofentrepreneurialmindsethasahighlevelofcognitiveability,is
adaptableandisalsoemotionallymature.Itisalwaysacombina-
tionofallthreeattributes,someofwhichprevailmore,someless
whileitisimportantthattheindividualtriesasbestaspossibleto
makeuseofthoseattributesthatcharacterizethemthemost.
Thebackgroundideaoftheentrepreneurialmindsetisthatev-
eryone,notjustentrepreneurs,canactentrepreneurially.Itisas
muchastateofmindascompetenceorskill.Itisaformofproac-
tive,flexible,innovativeandmultidisciplinaryactioninallareas,
notjustinbusiness.Anentrepreneuriallyorientedstudenthas
greaterchancesofgettingajob;anentrepreneuriallyorientedem-
ployeewillbemoreproductiveatwork;andanorganizationwith
entrepreneuriallyorientedemployeeswillbemoresuccessfuland
efficient.
EntrepreneurialEducation
Variousstudieshavefoundthatentrepreneurialeducation,which
promotesanentrepreneurialmindset,playsasignificantrolein
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TheRoleofChallengeBasedLearning
[15]
theeconomyandinincreasingeconomicgrowth.Entrepreneurship
graduatesarethemainplayersinthedynamismandflexibilityof
businessenvironments(O’Connor2013).Entrepreneurialskillsand
competenciesareincreasinglyessentialelementsofentrepreneurial
economics(Muñoz,Mosey,andBinks2011).
Supposewedrawananalogywiththeentrepreneurialmindset
andthethesisthattheentrepreneurialmindsetisnotreservedonly
forentrepreneurs,butforallentrepreneuriallyorientedindividuals.
Moreover,wecansaythatentrepreneurialeducationisnotonlyin-
tendedforentrepreneurs,butalsoforallentrepreneuriallyoriented
individuals.Researchalsosupportsthelatter.Entrepreneurshiped-
ucationisincreasinglybeingseennotonlyasthepreserveofthe
selectedfewwithentrepreneurialideas,butalsorelevanttoawider
rangeofstudentsinhighereducation(O’Brien,Cooney,andBlenker
2019).
Theresearchfoundthatentrepreneurshipeducationhadapos-
itiveimpactontheentrepreneurialmindset(Ssadatetal.2021)
andonstimulatingstudents’entrepreneurialinspirations(Cui,Sun,
andBell2021).Furthermore,Pirha di,Soleimanof,andFeyzbakhsh
(2021)proposedthatdevelopingentrepreneurialskillsandcharacter
instudentscanhelptoeffectivelydeveloptheabilitytoassessthe
desirabilityandfeasibilityofentrepreneurialopportunities,thus
developingtheirentrepreneurialmindset.Entrepreneurshipedu-
cationpositivelyaffectsthedevelopmentofstudents’creativityby
solvingproblems,communicationskills,andopportunityidentifi-
cation(Muñoz,Mosey,andBinks2011).
Thestudyofcognitivemechanisms,suchaslearningandeduca-
tionandtheirinteractionswiththeindividual’sexistingknowledge,
constituteoneofthemostimportantpiecesoftheopportunity
identificationpuzzle(Corbett2007),whichcanalsobeappliedto
entrepreneurshipeducation.Entrepreneurshipeducationincreases
theperformancelevelofdimensionssuchasattitude,knowledge,
andskillsandtherefore,entrepreneurshipischosenasacareerpath
(Kozlinska2012).
Variousstudiesemphasizethattheentrepreneurialapproach
mustalsofinditsplaceineducation.Modernuniversitiesshould
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[16]
DarioBerginc,ValentinaJoštLešer,andKatjaKraškovic
takeanentrepreneurialapproachtobecomeaplacewhereen-
trepreneurshipeducationplaysthemainrole(Gibb2007).Otherre-
searchhighlightstheimportanceofdevelopinganentrepreneurial
ecosystemtailoredtotheneedsofthestudentstocomplementen-
trepreneurshipeducation(Olutuaseetal.2018).Universitiespro-
videentrepreneurship-specificeducationtoequipstudentswiththe
entrepreneurialalertnessandrisk-takingassetsrequiredtopursue
entrepreneurialcareers(Solesviketal.2013).Asystematiclitera-
turereviewofcurriculacontentsandteachingmethodshasshown
thatentrepreneurshipeducationiswidelysupportedtoproduce
opportunitiesfordevelopingyoungandemergingentrepreneurs
(SierlkhatimandGangi2015).
Successfuluniversitiescombinetheoryandpracticeintheircur-
ricula.Agoodtheoryisabasisforpracticalengagement,andtest-
ingthetheoryinpracticeanditsconstantadditionenablesthe
constructionofabettertheory.Theresearchpointsoutthatef-
fectiveentrepreneurshipeducationshouldprovidestudentswith
thetheoreticalgroundingandknowledgeaboutentrepreneurship
andshouldenablestudentstoengagewithpracticalexperiences
wherethisknowledgecanbecriticallyappliedtodeveloppractical
entrepreneurialskills(BellandBell2020).
Researchshowsthatpracticaleducationinentrepreneurshipis
becomingmoreandmorerelevant.Engagingwithpracticalprojects
canleadstudentstodeveloptheirself-efficacyunderthetangible
achievementsofthistypeofpracticalactivity(Nowinskyetal.2019).
Practicalentrepreneurshipeducationactivitiesfocusingoncreating
valuecansupportstudentsinidentifyingentrepreneurialopportu-
nities(Lackéus2020).
Challenge-BasedLearning
Thequalityofeducationlargelydependsonthemethodsuniversi-
tiesusetolearnentrepreneurship.Manymethodshavevaryingde-
greesofsuccessinbuildingentrepreneurialcompetenciesanden-
trepreneurialmindset.
Studieshaveshownthatstudyinghelpsinthedevelopmentof
anentrepreneurialmindset(Nauman2017;Saadatetal.2021),but
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TheRoleofChallengeBasedLearning
[17]
differentinterventionswithinthestudycontributedifferentlyto
itsdevelopment.Theresearchhighlightsthatengagementwith
businesssimulationsandentrepreneurialscenarios(Avramenko
2012;Solomon2008),presentingandpitchingentrepreneurialideas
(Bliemel2013),studyingentrepreneurshipcasestudies(Changetal.
2014),andlearningfromrolemodelsandguestspeakerscanall
haveapositiveimpactontheentrepreneurialmindsetofstudents
(Saadatetal.2021).Wecanfurtherconnectallthementionedinter-
ventionsintoasingleconceptknownaschallenge-basedlearning.
Challenge-basedlearningcanbedefinedasagrowingapproach
ineducationandhasbeenpromotedasameansforstudentsto
aligntheacquisitionofdisciplinaryknowledgewiththedevelop-
mentoftransversalcompetencieswhileworkingonauthenticand
sociotechnicalsocietalproblems(NicholsandCator2008;Nichols,
Cator,andTorres2016).Further,thisflexibleapproachframes
learningwithchallengesusingmultidisciplinaryactors,technology-
enhancedlearning,multi-stakeholdercollaborationandanauthen-
tic,real-worldfocus(GallagherandSavage2020).Inparticular,the
real-worldfocushasaspecialaddedvalueinthisapproach,asstu-
dentscanfaceproblemsfromreal(business)lifeduringtheirstud-
ies.
Thesystematicreviewofchallenge-basedlearningliterature(Gal-
lagherandSavage2020)hasunderlinedthatthemostcommoneight
emergingthemesarisingfromtheexplorationofchallenge-based
learningresearchdefinitionswerethefollowing:globalthemes,real-
worldchallenges,collaboration,technology,flexibility,multidisci-
plinarityanddisciplinespecificity,challengedefinition,creativity
andinnovation(GallagherandSavage2020).
AccordingtoRutkien˙eandTandzegolskiene(2015),knowledge
andskillacquisitionvariesconsiderablydependingontheteach-
ingmethod.Studentsachievethelowestknowledgeandskillac-
quisitioninthetraditionallecture,namelyonly5.Thisisfol-
lowedbyreading(10),followedbyvideoandaudiocontent(20),
projectpresentations(30)andgroupdiscussions(40–50).Stu-
dentsachievethegreatestknowledgeandskillacquisitioninprac-
ticalactivitiesandcasestudies(75)andlearningthroughconsul-
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[18]
DarioBerginc,ValentinaJoštLešer,andKatjaKraškovic
tationsandpersonalexperiences(90)(Rutkien˙eandTandzegol-
skiene2015).
Thestudy,conductedamongmaster’sdegreestudentsattheUni-
versityPolitecnicodiTorino,Italy,andinvolving127studentswho
answeredthequestionnairesadministeredbeforeandafterpartic-
ipationinthechallenge-basedprogram,hasdemonstratedaposi-
tiveandsignificanteffectofchallenge-basedlearningprogrammes
ontheentrepreneurialmindsetandskillsofstudents,especiallyin
financialliteracy,creativity,andplanning(Colombellietal.2022).
Otherstudiesinthisareafocusedonspecificaspectsofchallenge-
basedlearning.AsurveyofentrepreneurshipeducationatGeorge
WashingtonUniversity(usa),conductedamong279respondents,
hasshownthatthemostpopulartypeofteachingmethodinen-
trepreneurshipcoursesofferedbycollegesanduniversitieswasthe
creationofthebusinessplan,followedbyclassdiscussions,guest
speakers,casestudiesandlecturesbybusinessowners(Solomon
2008).
Furthermore,asurveyamong214studentsfromtheUniver-
sityofSouthBohemiainČeskéBudějovice,aimedtofindoutwhat
teachingmethodsrelatedtoentrepreneurshipwouldbewelcomed
bymanagementstudents.Theresultsdemonstratedthattradi-
tionalteachingmethodswererankedlast,suchasessaysandsem-
inars,focusingontheoreticalknowledge.Activeteachingmeth-
ods,whichincludedbusinesssimulators,role-playing,andspecial
projectswherestudentscanconnecttheirknowledgetopractice,
wererankedbest.Thesemethodscanalsosupportstudentsinrun-
ningtheirbusinessesandeliminatethefearoffailure.Amodern
approachtoteachingandusingnewmethodsisexcitingandstimu-
latingforstudents(Pech,Řehoř,andSlabová2021).Hence,astudy
conductedinSwitzerlandshowedthatactiveapproachestoeduca-
tion(games,simulations)aresuitablefordevelopingcriticalthink-
ingandmotivation(Gatti,Ulrich,andSeele2019).
geacollege–facultyofentrepreneurship
geaCollege–FacultyofEntrepreneurship(fromSlovenia)canbe
anexampleofgoodpracticeindevelopingstudents’entrepreneurial
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TheRoleofChallengeBasedLearning
[19]
mindsetthroughanadaptedstudyprocessanddifferentchallenge-
basedlearninginterventions.Besidespracticallyorientedlectures
andexercises,thestudyprocessincludescasestudies,presenta-
tionsofbusinessideas,guestsfrompractice,excursionstocompa-
nies,competitionsandmanyotheractivitiesthathelpstrengthen
students’entrepreneurialmindset.geaCollege–FacultyofEn-
trepreneurshipisapartofheinnovate(aself-reflectiontoolfor
HigherEducationInstitution),aninitiativeoftheEuropeanCom-
missioninpartnershipwiththeoecd.Itworksasaself-reflection
toolforHigherEducationInstitutionsthatwishtoexploretheir
innovativepotential.Theprojectaimstohelpgovernmentsand
highereducationinstitutions(heis)enhancetheemploymentout-
comesofgraduatesbybetteraligninghighereducationprovision
andlabourmarkets.geaCollege–FacultyofEntrepreneurshipis
activelyparticipatingintheprojecttodisplaygoodexamplesand
learnabouttheinnovationofotherheistoinspireinnovationpo-
tential.In2021,gcwasinvitedandparticipatedinprovidinggood
practicesintheheinnovateCountryReview(oecd2021).
Thementionedreport,inconnectionwithgeaCollege–Faculty
ofEntrepreneurship,inparticularfocusedondeliveringmarket-
orientedskillsandthenecessityofcooperationwithanetworkof
publicandprivatepartners,practicallyorientededucation,collabo-
rationwithexternalstakeholders,activitiesoftheCareerCentre,
andprovidingentrepreneurshipsupportthroughbusinessincu-
batorandcollaborationwithcompanies(e.g.,Studentchallenge
competition).geaCollege–FacultyofEntrepreneurshiphasa
longtraditionofpromotinganentrepreneurialmindsetinSlove-
nia,bothamongyoungpeople(throughentrepreneurialworkshops
inhighschools,theYoungEntrepreneurcompetition,andsoon)
andamongadults.Studentslearnentrepreneurialskillsthrough
variouspracticalactivities,suchaselectivecoursesdedicatedtoen-
trepreneurship,butalsofromlecturesdeliveredbyentrepreneurial
guestspeakers,visitstocompanies,problem-solvingchallenges
andteachingmethodsintendedtoencourageanentrepreneurial
mindset.ThegeaCollegefocusesonentrepreneurialteachingand
learninginvariousprogrammes,includinglifelonglearningactiv-
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[20]
DarioBerginc,ValentinaJoštLešer,andKatjaKraškovic
ities,amsc,anewanddedicatedmba,aswellasanundergrad-
uatebscEntrepreneurshipdegree.OfferedbyitsFacultyofEn-
trepreneurship,thisthree-yearbscEntrepreneurshipprogramme
usesavarietyofteachingapproaches,includingseminars,casestud-
ies,workshops,presentations,groupdiscussionsandprojectwork.
Itoffersbothmandatoryandelectivecoursesthatprovidecom-
prehensivecoverageofentrepreneurshipandcanbecompletedby
presentingadiplomathesisoradegreeexaminationonsolvingan
entrepreneurialchallenge(oecd2021).
researchproblemandmethodology
Withtheresearch,wewantedtofindoutwhichelementsofen-
trepreneurialeducationhavethemostpositiveeffectontheen-
trepreneurialmindsetofstudentsofEntrepreneurshipatgeaCol-
lege–FacultyofEntrepreneurship.Weformulatedthefollowing
researchquestion:Towhatextentdodifferentinterventionsin
challenge-basedlearninginfluencethestudents’entrepreneurial
mindset?
Weusedalongitudinalqualitativeresearchapproachtogather
thedataforansweringtheresearchquestion:
1Wepreparedthecurriculaanddesignedchallenge-basedlearn-
inginterventionsstudentsencounteredduringtheirstud-
ies.Totestthechallenge-basedlearninginterventions,we
usedthecurriculumofcoreandelectivecoursesoftheEn-
trepreneurshipprogramme(table2).
2Totestprogressinthestudents’entrepreneurialmindset,we
usedthemethodofsolvingacasestudy.Wecreatedalongi-
tudinalanalysistrackingprogressinsolvingthecasestudyin
allthreeyearsofstudy(table3).
3Weanalysedthequalitativedata–theopencodingmethod
(Creswell,Hanson,andMorales2007)
Usingtheopencodingmethod,weperformedacomplexcontent
analysis(Krippendorff2021)ofallsolvedcasestudies.Thefirststep
intheprocesswasanoverviewofallcasestudiesdonebystudents
andcountingthenumberofallgivensolutions(table3).Thesec-
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TheRoleofChallengeBasedLearning
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table1 PresentationofCodesandCodeGroups
Codes Codegroups
Costreduction
Acquisitionofnewcapital
Creditreprogramming
Obtainingnewcredit
Finance
Retentionofexistingcustomers
Diversificationintootherindustries
Additionalmarketingactivities
Socialnetworking
Marketing
Analysisandcontrolofoperations
Delegationofdecision-making
Businessreorganization
Outsourcingofexternalconsultants
Management
Sale,relocationorliquidationofthecompany
Creatingabusinessplanandlong-termstrategy
Reducingthevolumeofbusiness
Searchforstrategicpartners
Strategy
Reorganisationofproduction
Relocationofproductionabroad
Outsourcingofproduction
Reductioninproductionvolume
Production
Agreementwithexistingsuppliers
Expandingtherangeofsuppliers
Reorganisationofthesupplychain
Optimisationofinventorymanagement
Supplychain
Continuedonthenextpage
ondstepwascoding.Wecreatedcodesbasedonthesubstantivepro-
posalsthatthestudentsprovidedassolutionstotheproblemsand
challengesfacedbythecompany.Weidentified40codes,whichwe
segmentedinto10groups.Thecodesandgroupsarepresentedin
table1.
Throughacombinationoftheoryinthefieldofentrepreneurial
mindset(Hisrich,Peters,andShepherd2017;Naumann2017;Cui,
Sun,andBell2021;Kuratko,Fisher,andAudretsch2021)andour
ownanalysis,weidentifiedthreeindicatorswithwhichweevaluated
thesolutionsofthecasestudiesforeachclassandforeachacademic
year:themultidisciplinarityoftheproposals,theconnectivityof
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[22]
DarioBerginc,ValentinaJoštLešer,andKatjaKraškovic
table1 Continuedfromthepreviouspage
Codes Codegroups
Agreementwithexistingcustomers
Reducingproductprices
Introducingadditionaldiscounts
Salethroughadvancepayment
Sales
Legalprotectionofcompanyinterests(patents,models,brands)
Studyoflegalpossibilitiesofstrategicalliances
Studyofthepossibilityofstatustrans.ofthecompany
Examinationofthepossibilityofliquidationofthecompany
Law
Staffreorganisation
Additionalemploymentofcompetentpersonnel
Reducingthenumberofemployees
Establishingincentiverewards
Human
resources
Preparationofadigitalstrategy
Raisingdigitalcompetences
Digitizationofbasicbusinessprocesses
Digitizationofmarketing
Informatics
(digitalisa-
tion)
theproposalsandthecomprehensivenessoftheoverviewofthe
situation.Allindicatorsaredirectlyorindirectlyrelatedtoallkey
characteristicsofanentrepreneurialmindset(Naumann2017):cog-
nitivetuningandgoalorientation,heuristic-baseddecisionlogic,
alertness,priorknowledge,socialinteraction,meta-cognitionand
cognitiveadaptability.Theycanalsobelinkedtothreeaspectsof
entrepreneurialmindset(Kuratko,Fisher,andAudretsch2021),
wherebythemultidisciplinaryindicatorismoreanalogoustothe
entrepreneurialcognitiveaspect,theconnectionindicatorismore
analogoustotheentrepreneurialbehaviouristicaspect,andthein-
tegrityindicatorismoreanalogoustotheentrepreneurialemotional
aspect.
Thequalityoftheproposalswasevaluatedwithaqualitative
methodbythreedifferentevaluators.Weratedtheindicatorson
ascalefrom1to5,where1meanslow,2sufficient,3average,4good
and5excellent.Anevaluatorreadeachsolvedcasestudyofevery
studentandrateditagainstthethreeindicators:themultidisci-
plinarityoftheproposals,theconnectivityoftheproposalsandthe
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TheRoleofChallengeBasedLearning
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table2 ReviewofCurriculaandChallenge-BasedInterventionsinallThree
YearsofStudy
Item styear ndyear rdyear
Numberofcore
coursesinwhich
students(individ-
uallyorinateam)
createandpresent
practicalproject
work
Inoutofcom-
pulsorycourses,
besideshome-
work,exercises
andcasestudies,
thereisalsoprac-
ticalprojectwork.
Inoutofcom-
pulsorycourses,
besideshome-
work,exercises
andcasestudies,
thereisalsoprac-
ticalprojectwork.
Inbothcompul-
sorycourses,be-
sideshomework,
exercisesandcase
studies,there
isalsopractical
projectwork.
Numberofelective
coursesinwhich
students(individ-
uallyorinateam)
createandpresent
practicalproject
work
Oftheelectivecoursesofferedinthestudiedyears(in
–,in–,andin–),all
includedpracticalprojectworkthatstudentshadtopre-
pareandpresent,eitherindividuallyorinateam.
Numberofguests
(managers,entre-
preneurs,scien-
tists)frompractice
  
Numberofcom-
panyexcursions

Continuedonthenextpage
comprehensivenessoftheoverviewofthesituation.Finally,wecal-
culatedtheaverageofallthreeindicatorsforeachyearofstudyfor
everyacademicyear(table4).
CurriculaandInterventions
WeanalysedthecurriculaofthecoreandelectivecoursesoftheEn-
trepreneurshipprogram(1stBolognalevel,bachelor’sdegree),inall
threeyearsofstudy.Throughlessonplansandothersupportingin-
formation,wedesignedchallenge-basedlearninginterventionsthat
studentsencounterduringtheirstudies.
TestingProgressthroughSolvingaCaseStudy
Inordertotesttheimpactofvariousinterventionsontheprogress
ofstudents’entrepreneurialmindsets,weconductedalongitudi-
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[24]
DarioBerginc,ValentinaJoštLešer,andKatjaKraškovic
table2 Continuedfromthepreviouspage
Item styear ndyear rdyear
Challenge-
basedinter-
ventionsac-
cordingto
yearofstudy
()Introduc-
torycourse:
abcofen-
trepreneur-
ship.
()Atest
ofmea-
suringen-
trepreneurial
compe-
tences.
()Student
challenge
project(prac-
ticalbusiness
case:team
preparation
andpresen-
tation).
()BusinessPlan(practicalbusiness
caseforthestartup:teamprepara-
tionandpresentation).
()PlanningCompanyGrowths–
practicalbusinesscaseforgrowing
company:teampreparationandpre-
sentation.
()SolvingEntrepreneurialChal-
lenges(forstudentswhochoose
diplomaexamsinsteadofa
diploma).
()Mandatoryinternshipinthe
company.
Commonin-
terventions
()ParticipationintheactivitiesofgeaTopTalents(tailored
programmeforgiftedstudents).
()Thepossibilityofinclusioninabusinessincubator(devel-
opmentandrealisationofabusinessideawiththehelpofmen-
torsandexpertconsultants).
()Participationincareercentreactivities.
()ParticipationintheactivitiesoftheInternationalOffice
(Erasmusmobility).
nalanalysisofsolvingthecasestudyinallthreeyearsofstudy(1st
Bolognalevel,Entrepreneurshipprogramme).Studentssolvedthe
samecasestudyatthebeginningofthe1styear,attheendofthe
2ndyearandattheendofthe3rdyear.Weanalysedthreeacademic
yearsstudied:2017–2018,2018–2019and2018–2020.Fromthedif-
ferencesintheiranswersatcertainpointsintime,wedetermine
theirprogressinthedevelopmentofanentrepreneurialmindset
andwhichinterventionsineachyearhadthemostimpactonsaid
progress.Theaimoftheexaminationistodeterminewhetherstu-
dentsshownewlygainedknowledgewhenadvancingtoahigher
year.Thesuccessfulsolutionofabusinesscaserequirestheacqui-
sitionofcompetenciesthataredefinedinthecurriculaoftheEn-
trepreneurshipprogramme,
Theresultsofthemeasurementanalysisshowastudent’sprog-
ressinentrepreneurshipskills,understandingofthefinancialas-
ijems

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[25]
table3 NumberofCaseStudyParticipantsandNumberofProposals
perStudentbyYearofStudyandAcademicYear
Academicyear Casestudyparticipants Proposalsperstudent
st nd rd Total st nd rd
–     . . .
–     . . .
–     . . .
pectsofbusinessandbusinessgrowth,managementandunder-
standingofbusinessstrategies,andalsothestudent’sabilitytocon-
nectknowledgefromdifferentsubjectsandthus,alsotheiranalyti-
calskills.
Thecasestudyreferredtoarealcaseofatransportfamily-owned
companyfromSlovenia,facingvariousproblems:fromfinancial,
marketing,humanresourcesissuestomanagerialandmore.The
studentshadtoputthemselvesintheroleofconsultantsandpro-
posevarioussolutions,withthehelpofwhichtheywouldrestorethe
companytostability,firstintheshortterm,theninthelongterm.
Thestudentshad1hourtosolvetheproblem.Theresearchhasthese
limitations:wedidnotmeasureeachstudent’sprogressindividually,
butthroughcumulativeresponsesfromallthestudentstogether.
Intable3,wepresentthenumberofstudentswhoparticipated
insolvingthecasestudyandthenumberofproposedsolutionsper
studentbyyearofstudyandacademicyear.
Inthe2019–2020academicyear,wemanagedtosignificantlyin-
creasethenumberofcasestudyparticipants,especiallyamongfirst-
yearstudents.Thereasonispartlyduetolargerenrolment,and
partlybecauseofthemorefocusedpromotionofparticipationin
theresearch.Theresultsoftheanalysisshowedthatwiththeyears
ofstudyacrossallthreeyears,thenumberofproposedsolutionsper
studentgrows.
Itcanbeseenfromtheresultsthatthelowestlevelofmultidis-
ciplinarityandconnectivityofproposals,andoverviewofthesitua-
tion,isachievedbyfirst-yearstudents,whilethehighestlevelisby
third-yearstudents,acrossallthreestudiedyears.
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[26]
DarioBerginc,ValentinaJoštLešer,andKatjaKraškovic
table4 AssessmentoftheQualityoftheProposalsAccordingtotheThree
Indicators
Yearofstudy Indicators Academicyear
–––
styearofstudy Multidisciplinarity . . .
Connectivity . . .
Comprehensiveness . . .
Average . . .
ndyearofstudy Multidisciplinarity . . .
Connectivity . . .
Comprehensiveness . . .
Average . . .
rdyearofstudy Multidisciplinarity . . .
Connectivity . . .
Comprehensiveness . . .
Average . . .
researchfindings
Thelongitudinalanalysisoftheresultsofthecasestudyactually
showednoticeableprogressinthestudents’entrepreneurialmind-
setduringtheyearsofstudy,anditisalsopossibletoassesswhich
challenge-basedlearninginterventionshadthemostimpacton
theirprogressinaspecificyear.Theresearchconfirmedandsup-
plementedmanystudiesinthisfieldthathadalreadyfocusedon
theimpactofchallenge-basedlearninginterventionsontheen-
trepreneurialmindsetofstudents(Solomon2008;Avramenko2012;
Bliemel2013;Rutkien ˙eandTandzegolskiene2015;Gatti,Ulrich,and
Seele2019;Pech,Řehoř,andSlabová2021).
Theanalysisfindingshighlightedthatineachyear,students
madeprogressinsolvingthecasestudy,bothquantitativelyand
qualitatively.Studentsinthesecondyeargavemoreproposedsolu-
tionsthanstudentsinthefirstyearandstudentsinthethirdyear
gavemoreproposedsolutionsthanthoseinthesecond(table3).
Fromthepointofviewofthequalityoftheproposals(themultidis-
ciplinarityoftheproposals,theconnectivityoftheproposalsand
thecomprehensivenessoftheoverviewofthesituation),asmea-
ijems

TheRoleofChallengeBasedLearning
[27]
suredbytheevaluators,theproposalsofstudentsinthesecond
yearwereofbetterqualitycomparedtothoseofthefirstandthe
proposalsofstudentsinthethirdyearofbetterqualitycompared
tothoseofthesecond(table4).Inshort,thethird-yearstudents
providedmoresolutionproposals,andtheirsolutionsweremore
multidisciplinaryandconnected,whileatthesametime,theypro-
videdamorematureandcomprehensiveoverviewofthesituation
inthecompanyandpossiblesolutionstotheproblemsthecompany
facedinthecasestudy.Therefore,studentsinthethirdyearexhib-
itedahigherdegreeofentrepreneurialmindset(Naumann2017;
Kuratko,Fisher,andAudretsch2021).
Ifwegointoamoredetailedanalysis,wecanseethatatthebe-
ginningofthestudy,studentsweremorefocusedonquickpartial
solutionsandshowedfewersolutions.Theresultsunderlinethat
theyneedamorecomprehensiveoverviewofthesituationandtake
amultidisciplinaryapproachtoalesserextent.
Attheendofthesecondyear,studentsalreadystartlookingfor
morelong-termsolutions.Theyalsoprovideseveralsolutionsre-
latedtofinanceandmarketing.Theirprogressislargelytheresult
ofthethreefinanceandtwomarketingcoursestheytakeinthesec-
ondyearandparticipatinginthestudentchallenge(practicalteam
projectwork),whichisalsocarriedoutinthesecondyear.
StudentsinthethirdyearoftheEntrepreneurshipprogramme
showamorebalancedselectionofmeasures.Itisacombination
ofquicksolutions,aswellasmorestrategicallyorientedsolutions
(businessplancreation),wherethedifferencefromtheanswers
givenbystudentsinthefirstandsecondyearsisclear.Inaddition,
theanalysisshowsthatthefirstandsecond-yearstudentsmention
farfewersolutionsthantheirthird-yearcohorts,andthefrequen-
ciesofsolutionsaremuchmorebalancedamongthethird-yearstu-
dents.Itcouldbesaidthatthird-yearstudentslookattheproblem
morecomprehensively(acombinationofhumanresource,financial,
marketingandmanagementsolutions)andhaveabetteroverview
ofthesituationthanthefirstandsecondyears,whichcertainly
showsgreatprogressinthestudents’competenciesandmultidis-
ciplinaryknowledge,aswellintheabilitytogiveamorecompre-
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[28]
DarioBerginc,ValentinaJoštLešer,andKatjaKraškovic
hensiveoverviewofthesituation.Weestimatethattheirprogress
comparedtothesecondyearislargelytheresultoftwomandatory
coursesthatarestrategicallyandinterdisciplinaryoriented(Busi-
nessPlanandPlanningCompanyGrowth),aswellastheinternship
inthecompanythattheycarryoutinthethirdyearofstudy.Our
resultscanthusconfirmthestudy’sresultsthathaveshownapos-
itiveandsignificanteffectofchallenge-basedlearningprogrammes
onstudents’entrepreneurialmindsetsandskills,especiallyinfi-
nancialliteracy,creativityandplanning(Colombellietal.2022).In
addition,creatingabusinessplanis,insomestudies,themostpop-
ulartypeofteachingmethodinentrepreneurshipcoursesoffered
bycollegesanduniversities(Salomon2008).Wecanalsoconfirm
thefindingsofstudiesthatengagementwithbusinesssimulations
andentrepreneurialscenarios(Avramenko2012;Solomon2008)as
wellaspresentingandpitchingentrepreneurialideas(Bliemel2013;
Rutkien˙eandTandzegolskiene2015),haveapositiveimpactonthe
entrepreneurialmindsetofstudents.Ourfindingsalsoconfirmthe
studiesthatdemonstratedthegreatimportanceofactiveteach-
ingmethods,suchasbusinesssimulators,role-playing,andspecial
projectswherestudentscanconnecttheirknowledgetopractice
(Pech,Řehoř,andSlabová2021),aswellastheimportanceofthe
activeapproachtoeducationfordevelopingcriticalthinkingand
motivation(Gatti,Ulrich,andSeele2019).Furthermore,theright
combinationofthesemethodscansupportstudentsinrunning
theirbusinessesandeliminatethefearoffailure(Pech,Řehoř,and
Slabová2021).
Wealsoevaluatethesignificantimpactofsomechallenge-based
learningactivitiesthattakeplaceeverystudyyear.Theanalysisof
thecurriculashowedthatin12corecourses(outof18),besidesother
regularsubjectactivities(homework,exercises,casestudies,etc.),
studentsalsohadtocreateandpresentaproject,eitherindividually
orinateam.Thelatteralsoappliestoallelectivecourses,theyears
ofwhichwereanalysed.
Here,weemphasizesolvingvariouscasestudiesinallcoursesof
theEntrepreneurshipprogramme.Studentsmostlysolvethematic
casestudiesbetweenlecturesandinateam,whichalsodevelops
ijems

TheRoleofChallengeBasedLearning
[29]
teamcompetencies.Eachgrouppresentstheresultsofthesolu-
tion,followedbyagroupdiscussion.Existingresearch(Salomon
2008;Changetal.2014;Rutkien ˙eandTandzegolskiene2015)also
supportedcasestudiesasapopularandeffectivetypeofteaching
methodinuniversityentrepreneurshipprogrammes.
Weseethehighaddedvalueofchallenge-basedlearningatthe
geaCollege–FacultyofEntrepreneurshipmainlyinthemixofmul-
tidisciplinaryapproaches,cooperationwithvariousstakeholdersof
thefaculty(especiallycompaniesandsuccessfulentrepreneurs),and
aboveall,inanauthentic,real-world,whichisalsostronglyhigh-
lightedinexistingresearchinchallenge-basedlearning(Gallagher
andSavage2020).
Visitsbyguestsinthelecturehall(managersandentrepreneurs)
arealsoconsideredimportantinterventionsthathavebeencarried
outthroughouttheyears.Guestscanopenupnewhorizonsforstu-
dents,inspirethemintheircareerpathandproviderolemodels
fromwhomstudentscanlearn.Existingstudies,whichemphasize
theimportanceofincludingguestspeakersandlecturesbybusiness
ownersinthestudyprocess(Salomon2008;Saadatetal.2021),also
confirmedthis.Excursionstocompaniesalsorepresentasimilar
addedvalue.Studentsneeddirectcontactwithcompanies,toview
theworkprocess,andtalkwiththefounder.
Activitiesthatoccurcontinuouslyprovideessentialadditional
impactonstudents’progress.Studentscan,therefore,takepartin
themindifferentyearsofstudy.Letushighlightherethepossibility
ofparticipatinginthegeaTopTalentsprogramme(tailoredpro-
grammeforgiftedstudents),inthefaculty’sbusinessincubatorand
CareerCentreaswellasInternationalOfficeactivities.Studentswho
aremoreactiveand,toagreaterextent,involvedintheaforemen-
tionedactivitiesprogressfasterindevelopingtheirskills,compe-
tenciesandentrepreneurialmindset.
Weshouldespeciallyhighlighttheimportanceofstudentsjoin-
ingthefaculty’sbusinessincubator,wheretheycandevelopandre-
alisetheirbusinessideawiththehelpofmentorsandconsultants.
Existingstudiesconfirmthat,thegreatestknowledgeandskillac-
quisitionisachievedthroughconsultationsandpersonalexperi-
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[30]
DarioBerginc,ValentinaJoštLešer,andKatjaKraškovic
ences(90ofgainedknowledge)(Rutkien˙eandTandzegolskiene
2015).
Finally,theprofessorsalsohaveanimportantinfluenceonthe
progressoftheentrepreneurialmindsetofstudents.Thevastma-
jorityofprofessorsatgeaCollege–FacultyofEntrepreneurship
havepracticalexperience.Thismeansthattheycansharetheirown
experiencesfrompracticewithstudentsandcanalsopreparethe
curriculumfortheircoursesinaverypracticalway.Experiencefrom
practicealsomeansanactivenetworkofacquaintances,whichhelps
themtointegrateguestsfrompracticeintothestudyprocessandor-
ganiseexcursionstocompaniesandsimilarchallenge-basedlearn-
ingactivities.
conclusion
Theresearchdemonstratedthatchallenge-basedlearningactivi-
tieshaveasignificantaddedvalueinteachingentrepreneurship
andhaveapositiveeffectontheprogressoftheentrepreneurial
mindsetofstudents,whichconfirmsexistingresearchinthisfield
(Colombellietal.2022).Ourresultsalsoconfirmedseveralother
studiesthatchallenge-basedlearningactivitiespositivelyimpact
theentrepreneurialmindsetandopenupanewareaofresearch
ontheconnectionbetweenthestudycurriculum,challenge-based
learninginterventions,andtheentrepreneurialmindsetofstu-
dents.
Throughvariouschallenge-basedlearningactivities,students
makegreatprogressintheirentrepreneurialmindset.Howmuch
addedvaluetheywillactuallyimplementintheir(entrepreneurial)
careerlargelydependsontheirengagement.Thisisalsotheanswer
toourresearchquestion,whichweformulatedatthebeginning:dif-
ferentinterventionsinchallenge-basedlearningcaninfluencethe
entrepreneurialmindsetofstudentstoagreatextentiftheytake
advantageofalltheopportunitiesthatthefacultyoffers.Webe-
lievethatchallenge-basedlearninginterventions,besidesthepro-
grammeandprofessors,areinthemselvesagreatmotivatoranden-
gagerforstudentstocontributetheirmaximumandgetthemost
outofthiscooperation.
ijems

TheRoleofChallengeBasedLearning
[31]
Itisveryusefulforentrepreneurshipuniversitiestoencourage
anddevelopnew,innovativeapproachestoentrepreneurshiplearn-
ingthathaveaconnectiontopractice,i.e.,companies.Suchactivi-
tiesimprovethepositioningandcompetitivenessofuniversitiesin
theeconomicspaceandhaveapositiveeffectontheeconomyit-
selfandeconomicentities.Companiesalsorequirecooperationwith
pedagogicalandresearchinstitutions,sincetheyneednewknowl-
edgeandgoodworkers,whileuniversitiescanbethegeneratorsof
goodworkers.Challenge-basedlearningcanthusrepresentasuit-
ableapproachofcooperationbetweenfacultiesandtheeconomy,
inwhicheveryonegains:faculties,theeconomyandstudents.Asa
result,basedonthefastercirculationofknow-how,thisisalsore-
flectedinthequalityofcompetitivenessofcountriesandregions
usingthisapproach,whichalsohaspositivemacroeconomicconse-
quences.
Thekeylimitationoftheresearchisthatitisacasestudyanal-
ysis,sowecannotgeneralisetheresultsforthewiderpopulation
ofentrepreneurialuniversities.Fromthispointofview,werecom-
mendcreatingmorecasestudiesontheinfluenceofchallenge-based
learningontheentrepreneurialmindsetofstudents.Quantitative
researchinthisareawouldalsobewelcome,coveringalargersample
ofentrepreneurshipfaculties,testingthehypothesesputforward
onthem,andlookingfordifferencesbetweenfaculties.
Withmoreresearchintotheeffectivenessandefficiencyofchal-
lenge-basedlearningmethods,facultiescouldimprovetheircur-
ricula,andasaresult,studentswouldgainmoreentrepreneurial
competencesand,inthisway,furtherenhancetheirentrepreneurial
mindsets.
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