Two birds with one programme: How business schools can support their entrepreneurial stakeholders and generate new revenue

John A. Sims, Jr and Roy A. Wiggins, III
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John A. Sims, Jr: AJS Consulting Company, USA
Roy A. Wiggins, III: Bentley University, USA

Journal of Education Advancement & Marketing, 2021, vol. 6, issue 3, 279-300

Abstract: This paper examines how US colleges and universities currently support their entrepreneurial stakeholders and proposes an advisory initiative that extends these services in a way that benefits all involved. First, some of the most common support mechanisms provided by these schools to their entrepreneurial stakeholders are detailed. This discussion helps identify an important process that can be added to an already full menu of support that schools provide. Secondly, that process is presented to help schools determine how best to extend the variety of school resources to their school stakeholders engaged in various stages of running business ventures. The ultimate goal is to offer intermediate, advisory opportunities that fall between using independent mentors and coaches and a more formal board of directors. The firms get access to expert advice and counsel. Advisory board candidates have a new way to connect with the school and make meaningful contributions to both the venture and the school. The institution possibly receives a small equity stake in the firm that could bring some needed relief to school’s financial needs. Finally, this process fills an important gap in the services schools can provide their entrepreneurial stakeholders.

Keywords: advisery; alumni relations; corporate relations; entrepreneurship; university advancement (search for similar items in EconPapers)
JEL-codes: M3 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jeam00:y:2021:v:6:i:3:p:279-300

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