Qualitative Evaluation of Scaffolded Teaching Materials in Business Analysis Classes: How to Support the Learning Process of Young Entrepreneurs

Abstract

The purpose of this study is to test the usefulness of the scaffolding materials and to provide practical recommendations for entrepreneurship education. Following the framework of social learning theory and a semi-structured questionnaire that was developed based on the results of a literature review concerning entrepreneurial creativity and competency issues, a thematic analysis was conducted to analyse how the template materials developed alongside the affected motivation and learning outcomes of the author’s learners. The results highlighted the following. The participants recognised that the established model of business analysis taught in lectures is a generic model that discards non-economic factors and real business situations, and that potential entrepreneurs in developing countries should pay more attention to the sociocultural context of which they are potentially or explicitly aware. The participants also appreciated that the scaffolding materials helped them understand the general conceptual model in a familiar and practical context, and that the process and output of filling out the template stimulated class discussion, deepened their understanding, and influenced their own awareness. Furthermore, they greatly appreciated that the process of discussing the template allowed them to share and reflect on their own entrepreneurial activities through storytelling, which enhanced their learning through the propagation of their own awareness. Thus, the development of scaffolding materials that focus on reflection could play an important role in reinforcing the learning outcomes of business analysis and imprinting them in students’ minds by encouraging them to think critically about prominent models in textbooks. The results of this study suggest that social learning theory can serve as an effective guide for the design, review, and improvement of learning support measures.

1. Introduction

1.1. Business Studies Education for the Younger Generation

In an increasingly globalised world, teaching the next generation of entrepreneurial leaders, who will go on to drive socioeconomic activity while practising corporate social responsibility (CSR) and reaping the benefits of advanced technologies, is an important challenge for any market. As such, several approaches to support the learning of aspiring entrepreneurs have been developed and implemented. Constructive and comprehensive means of stimulating dynamic leadership skills are crucial, particularly in an entrepreneurship and leadership development context. This can be achieved by designing practical educational modules based on an assessment of the challenges faced by entrepreneurs today.

Drawing on an example from West Africa, Omeihe et al. [1] argue that issues caused by weak infrastructure and institutional dysfunction can be addressed through traditional and indigenous institutions, such as family, tribe, and religion, along with economic organisations, such as cooperatives and trade associations. Making young entrepreneurs aware of these essential local support networks in their specific market context, and how they might proactively engage with them, would make for a valuable module in entrepreneurship education.

As Omeihe et al. [1] point out, the challenge for future research is to support entrepreneurial learning programmes in developing countries, as well as to develop learning materials that highlight the importance of market-specific wisdom and invisible experiences for developing business strategies and maintaining and improving the sustainability of SMEs in developing countries. To this end, the authors have developed learning materials on established models and theories of business behaviour and environmental assessment, such as the product–service interaction (PSI) model template, for review and reflection lessons. These lessons were designed to allow young entrepreneurs to review the materials and evaluate their effectiveness.

A review and reflection module using this PSI model template was conducted with master’s students and young entrepreneurs in Nigeria and Ghana between April and May 2022 to assess the learning process and any changes in student attitudes after their completion of the module.

CSR and digital transformation in the financial sector will become important issues for business sustainability in the future, partly due to the demands of the Sustainable Development Goals (SDG). The aim of the present study is to test the applicability and effectiveness of scaffolded learning support in teaching students about these concepts and for their practical application.

1.2. Research Gap

Despite the importance of developing the next generation of entrepreneurial leaders, who will drive socioeconomic activity while benefiting from corporate social responsibility (CSR) and advanced technology in the midst of globalisation, support for aspiring entrepreneurs remains relatively sparse in developing countries, where relevant local entrepreneurial experience is rare. Special attention should be paid to supporting learning in developing countries, where learners tend to have fewer opportunities and more limited access to learning materials than students in developed countries, so that these students can learn academic frameworks and master the art of applying them to practice in an efficient and precise manner.

Based on their work in West Africa, Omeihe et al. [1] also suggest that traditional and indigenous institutions (such as family, tribe, and religion) may support entrepreneurial spirit and enterprise activities, in contrast to the institutional arrangements and public sector interventions discussed in developed countries. This suggests that, in learning about entrepreneurship through business cases, it is vital to first identify one’s own position, recognise the resources one has available, and then determine how one can best combine them under the circumstances.

However, in pedagogy and entrepreneurship education to date, the impact of local conditions has generally been ignored, and learning materials and texts have been created and used according to global standards. Herein lies the biggest gap to which this study can contribute.

1.3. Rationale and Objectives of the Study

This study is based on collaborative learning conducted with participants in an extracurricular module by a UK-based business graduate student and a young entrepreneur of West African origin. The module aimed to stimulate interactive discussions between young aspiring entrepreneurs in small teams, with the primary objective of putting a well-established model for business strategy evaluation into operation.

The module was therefore designed to help students understand, through collaborative learning, how to analyse live cases by assessing the appeals to sustainability made by global companies from various angles. This involved testing the effectiveness of various analytical tools in the market research and evaluation process as a basis for business strategy transformation and learning about analytical methods from live cases. The ‘Reflection on Learning Outcomes and Analytical Skills’ session was added to the module to help students reflect on the PSI model and explore the applicability and effectiveness of supportive scaffolding materials with the goal of supporting and enlightening the next generation of business leaders. This additional session was conducted with students who had expressed willingness to give accounts of their perceptions of the learning material before and after the session. These accounts were then analysed to evaluate the effectiveness of the materials used in the reflection sessions.

2. Literature Review

2.1. Creativity in Entrepreneurial Learning

Creativity has important implications in the context of entrepreneurial learning. For example, theories of creativity explain that creativity is a capacity that is largely concerned with arguments and interactions among humans and between humans and physical objects [2]. Promoting student creativity and entrepreneurship through live case studies has been one of the main avenues of research in higher education business studies [3].

Creativity is considered one of the most complex human behaviours and has long been a topic of interest and study among interdisciplinary intellectuals and researchers [4]. Humans become creative in diverse and different ways through engaging with and in a variety of social, developmental, and educational experiences and situations [5].

Creativity may be a fundamental quality given by God, or it may be a quality that can be developed, a fortune that can be planned, acquired, and enhanced through specific methods [6]. As is often pointed out, creativity as a modern term emerged from the pioneering efforts of Guilford [7] and Torrance [8]. In this study, however, rather than placing emphasis on the psychometric perspective, we are interested in fostering creativity.

2.2. Social Learning Theory

Similarly, sociocultural learning theory also suggests the importance of learning theories that emphasise humans in the context of their interactions with artefacts and tools [9]. Theories of entrepreneurial learning and competency may also provide useful guidance in carrying out this study.

Sociocultural learning theory asserts that learning is a social process and that the social environment has a significant impact on our cognitive learning, development, and mental processes. Social cognitive theory, developed by Bandura [10], can provide a theoretical foundation for understanding the link between learning support and entrepreneurial behaviour, which is the main theme of this study [11]. Social cognitive theory is a useful framework for understanding how people acquire and maintain behaviours [12]. This theory states that people acquire behaviours through social learning, which occurs during interactions with others and the environment [10]. Based on this theory, we focus on the potential for prospective entrepreneurs in developing countries to learn and become aware of entrepreneurship, and acquire entrepreneurial behaviours, by interacting with other learners and reflecting on the past through a learning process involving the use of learning-supportive materials.

2.3. Competence

Finally, we pay attention to the following aspect: the impact of the use of artefacts and tools to stimulate creativity in human consciousness and behaviour change. For example, De Bernard et al. [13] developed suggestions for integrating culture and creativity through the concept of ecosystems. More specifically, regarding interactions with tools, Bhatnagar et al. [14] adopted a more scientific approach to human behaviour, developing an investigative method based on methods and databases that track human interactions with objects.

It has further been discussed that entrepreneurial behavioural characteristics are supported by psychological motives in relation to the work in question, such as ‘resonance’, ‘sense of mission’, and ‘sense of value’, and that competence can be positioned as an infrastructure for these motives [15].

Schumpeter [16] described the entrepreneur as an entity that propels the economy from the status quo to another economic equilibrium through new combinations (innovations). Moreover, a venture is a young company led by an entrepreneur with high aspirations and a strong desire to grow and take on new business challenges. A general perception of the product, service, or management system as innovative and novel, and/or the business as self-sustaining and socially responsible, could be supported and fostered in advance through entrepreneurial learning; it may also be possible to construct this through the use of competencies [17].

From this perspective, theories about entrepreneurial learning and competencies are also expected to support this study. For example, Hasan et al. [18] used the term ‘psychological capital’ to discuss the importance of identifying and exposing competencies in entrepreneurship education. Mets et al. [19] argued that, in entrepreneurship education, competencies should be at the core of the entrepreneurship development process. In other words, it is critical that entrepreneurship education should refine and foster competencies and inspire entrepreneurship and action within the framework of social learning.

3. Methodology

3.1. Analytical Framework

3.1.1. Outline of the Unit

According to a study by Business Insider [20], despite the impacts of the COVID-19 pandemic, the banking industry is currently much healthier than it was after the 2008 financial crisis: total global assets in 2021 amounted to USD 148.6 trillion, up 16.0% from USD 128.1 trillion in 2020 [21]. To manage this vast asset base alongside their core business, leading banks are investing heavily in new business models, such as digital financial services, and new capabilities, hoping to attract new customers and retain existing ones.

This is partly because the process of digitisation is threatening the economic foundations of banking, which have long been based on fixed business models. In order to survive, traditional financial institutions have been competing and merging with startups and online banks in recent years. These institutions will be required to make even more radical management decisions and implement new business strategies in the future.

Banking is a key socioeconomic industry. In today’s seamlessly connected global marketplace, banks will find it difficult to survive unless they can predict future market challenges and respond to them by boldly reviewing their investment strategies and revising them where necessary. In light of this uncertainty, this study aims to understand and analyse the business environment in detail, using the latest data to see how existing analytical tools, such as SWOT, PESTEL and Porter’s Five Forces, can be used as the basis for new management strategies and developments.

3.1.2. Established Models for Business Analysis

As discussed by Adams and Abhayawansa [22], following the COVID-19 pandemic, businesses are now expected to align their corporate business strategies with sustainability goals, including through environmental, social, and governance (ESG) investments. In order to identify new avenues to meet these expectations, this study experiments with some well-established models and tools and asks students to evaluate the learning process. This section identifies the strengths and characteristics of tools used to analyse markets and companies’ international business strategies, then discusses students’ evaluation of the tools and their utility in the classroom.

PESTEL analysis is used to understand how to cope with challenges and external factors in the global market. Dinçer [23] argues that PESTEL analysis also plays a vital role in the banking sector, as banks need to consider the issues covered in the PESTEL model if they are to survive in a highly competitive environment. Dinçer [23] further claims that a range of factors may have affected the performance of the banking sector in recent years.

Porter’s Five Forces shape the structure of all industries and contribute significantly to establishing the rules of the competition and the root causes of profitability within an industry. These five forces are the threats posed by competitive rivalry, influential buyers, powerful suppliers, potential new entrants, and substitute products [24,25]. The first of these forces is relevant to how banks should deal with the threat of competitors entering the market from outside the traditional banking industry using digital technology. It also informs banks’ need to be bold in reorganising their own corporate structure to drive digital transformation within their company while considering the potential impact of new digital technologies.

SWOT analysis is an incredibly useful analytical tool for assessing how technological competence drives digital transformation in the current global market context. This involves understanding how traditional industries can adapt in order to cater to ever-developing, changeable customer needs and expectations while competing with innovative new entrants in the banking sector. Therefore, it is critical to understand a company’s strengths and weaknesses using SWOT analysis and to differentiate them using Porter’s generic strategy. In the finance sector, companies must invest and innovate to develop solutions that help protect customers from risks, such as financial crimes, so that these companies can stabilise their operations and build governance systems [26]. As digitalisation advances and the threats posed by buyer power increase, it is essential for business managers to understand the position of their own institutions in the competitive market [27].

The future success of banks depends on their ability to anticipate changing customer needs, respond quickly and efficiently to them (e.g., by building learning experience platforms, including leadership development programmes), and continuously evolve investments [28]. Practical insights from customers and employees are essential for learning how to do this [29,30].

3.1.3. Analytical Approach for the Next Phase of Reflection

The module created for the present study used the three models mentioned above to teach the students about business strategy analysis, allowing them to develop skills using its practical application. In addition, the class learnt about entrepreneurship through collaborative learning and the class activities that were arranged. As discussed in the introduction, this study evaluates the effectiveness of management strategy learner support materials. The learning content used here was based on the theme of analysing the strategy of a company that aims to succeed in the global market. After completing the key parts of the unit, the students were asked to use the learning support materials prepared by the author and qualitatively evaluate their effectiveness.

To facilitate this, after the completion of the original module, an additional session was conducted with the cooperation of the participants in which the PSI model was used to reflect on and evaluate learning outcomes. From the process of teaching the students about the above three theory models, it was confirmed that two key topics, namely, CSR and digital transformation, should form the pillars of business strategy in the challenging financial environment of the future. The overall aim was to identify the learning outcomes of the module from a broad, comprehensive perspective.

In order to provide this perspective, and provide an opportunity to improve awareness and stimulate the learners’ research motivation, the teaching material followed a single template: the PSI model. This was intended to make the teaching logical and concise and to facilitate reflection without a sense of burden. Before and after this additional session, participants were interviewed about their experience of the learning process to determine whether the use of this template as scaffolding material provided an effective tool for reflecting on the module’s content and assessing the level of learning experienced.

3.2. Questionnaire Design

In line with the purpose of this study, interview respondents were selected from Nigerian students (MBA and International Management course students). These students, who were all attending a series of lectures, were identified through purposive sampling, and declared their willingness to participate in the research. The pilot testing of the questionnaire was conducted in advance with the cooperation of 10 Nigerian students and alumni. The sample size was chosen to be 18 or more, which is recommended for qualitative research as it is a range that allows for sufficient depth of information without being too large [31].

The interview design took the form of a semi-structured questionnaire based on key themes suggested by existing academic discussions, as described in the literature review. Although this is an empirical study in the field of social sciences and pedagogy, and is not intended to be replicable from a purely scientific standpoint, at the very least, the interview guide and materials used in the study were used to demonstrate the researchers’ support for learning in international classrooms in their own contexts. While creating an interview guide based on the semi-structured questionnaire, key academic discussions, such as those on creativity and entrepreneurial competence from a social learning theory perspective, were conducted and subsequently reflected upon to collect participants’ hidden ideas and insights.

3.3. Data Collection Method

The study relies on an experiment with university students that was conducted three times between March and April 2022. For all three of these sessions, an experimental module was assigned as an extracurricular exercise, which used materials relevant to the three models considered in the literature study as templates. The PSI model was one of those used in the activity (see Appendix A, Figure A1).

Although 30 participants had registered beforehand, the actual number of participants varied from session to session. The sessions were conducted in a hybrid format, with some students connecting online. The aim of the experiment was to assess the effectiveness of using the templates developed by the authors as scaffolding material to support the students’ learning and improve their conceptual understanding of the three models discussed in this study. It was also intended to evaluate the effectiveness of the scaffolding materials in light of the recent introduction of long-distance lectures and the increasing use of online classes and games in teaching. The three analytical models used are well-established frameworks that have been learned and practised by many students in the field of business studies for many years.

3.4. Data Collection and Analysis Plan

Textual data were collected on the students’ perceptions and evaluations of the template materials through in-depth interviews prepared in advance by the researchers. These interviews were carried out before and after the course with 24 voluntary participants. They were recorded with the participants’ permission and subsequently transcribed for analysis. Qualitative text mining methods were applied to the collected data to analyse and compare learners’ expectations and evaluations before and after the programme. Text mining was carried out using NVivo 12, KHCoder, and UserLocal software, with frequent word extraction, word co-occurrence mapping, and hierarchical cluster analysis, used to interpret students’ evaluations of the template module and the prospects and challenges of its implementation in lectures [32].

None of the university student participants had any business-related learning experience prior to higher education. The three models covered in this study were chosen to deepen their understanding and improve their practical skills.

4. Analysis and Discussion

4.1. Holistic Evaluation for Supportive Learning Materials

Now more than ever, bank leaders are required to demonstrate their commitment to ESG concerns with concrete action, and banks need to be proactive in coordinating change at the pace and scale required to achieve the desired results. Depending on its size and strength, a bank can use a combination of new approaches to improve the flexibility of its business model and distinguish it from its competitors. Therefore, practical models for learning will continue to provide important tools for entrepreneurs, as well as for developing learners’ understanding of corporate strategic planning in the global marketplace. This prompts the question: what measures should be taken to increase the effectiveness of these learning tools? To answer this question, this study has prepared template-based scaffolding materials and compared participants’ evaluations from before and after these materials were used as learning tools. Figure 1 lists the keywords used in participants’ comments before and after the template-based learning session.

It was observed that the participants perceived template-based learning to be helpful for deepening their understanding of business models and theories. They also evaluated the template as an effective tool for enhancing interactive learning and collaborative discussions in the class and stated that the template-based class was active and engaging.

4.2. Evaluation of Established Analytical Models (before the Module)

NVivo 12 was used to establish nodes in the textual data from the comments received. Five representative pillars emerged from the participants’ feedback: established analytical models, application of theories and models, market research, controlling competitive advantage, and risk and compliance (Figure 2).

Figure 3 presents the hierarchy of the participants’ perceptions of the business analysis model. Overall, they rated the business analysis model method as a good way to learn and practise business strategies in the global marketplace. The class’s analysis of CITI’s business strategy and a discussion of the recent trends driving changes in strategy in the global market appear to have provided the students with knowledge and experience regarding the challenges facing the banking sector. Text mining revealed that the most prominent topics of discussion were the importance of compliance and risk management; a deep understanding of, and responses to, market behaviour; and the importance of changing corporate structures in response to market conditions. On the other hand, many participants pointed out the difficulty of bridging theory and practice in applying these conceptual models to actual cases and considering the implications [33].

Through their participation in the class, the participants came to understand the essence of the three business analysis models. After the session, participants were asked for their views on the models and the learning process in general. The results highlighted that the participants were uniformly curious about how they should apply and utilise the established generic models in real business situations. Some representative comments are listed below; these are organised to reflect the composition of the visualised nodes outlined in Figure 2 and Figure 3.

‘We have learned and shared live case studies via established models, like gamification’

(P6)

‘I have already experienced learning from existing models, but there are many aspects that do not add up. There are probably too many scales, aspects and factors to be embodied in one’s own context’

(P9)

‘Models and theories learned in textbooks can be understood in the head’

(P11)

‘It would be essential for entrepreneurs to understand the trends in active business by putting them into a model, but to do so… it is not that easy!’

(P4)

‘…established models provide a generic learning perspective, and it is a bit hard to imagine how to actually use them when you are in charge of your own company’

(P15)

‘The information that you find in textbooks is good to learn in school, but what about in practice?’

(P16)

4.3. The Applicability of the Scaffolding Material in Business Learning (after the Module)

At the end of the session, participants were asked to share their understanding of, and opinions on, the template scaffolding material specifically, and the class on business analysis models in general. The text data obtained were visualised using NVivo 12 to establish a node structure and depict these comments hierarchically (Figure 4 and Figure 5).

An examination of the nodes and their hierarchical distribution reveals that the majority of participants regarded template-based reflective learning as effective. Filling out the templates and discussing the templates with others stimulated class discussion and deepened the students’ understanding of the models and theories covered in the module. Furthermore, many participants commented that they would like to create their own templates, share them with others, and evaluate them. However, many also expressed doubts about the practical application of the models. In particular, they noted that there are many non-economic indicators and invisible values in the practical world of business besides the economic indicators presented by the theories. They also talked about how, in markets and business contexts in the developing world, underlying connectedness and trust elements are embedded in indigenous social systems [34], but are overlooked by the theories contained in Western textbooks.

The following comments summarise the participants’ evaluations of and expectations for the template-based study.

‘With just one template to write on and discuss, a concise skeleton emerged in our minds, and we realised that beyond general discussions and textbook findings on CSR and business strategy, such a simple and clear tool for practical entrepreneurship education would be useful for reflection’

(P3)

‘The experimental modules were just fun, quick, crisp work, discussion and sharing ideas with the class. The template is useful for quality-over-quantity learning’

(P6)

More practical suggestions were also made. Having just taken a template-based class, the students were quite specific in their comments on the effectiveness of the template. For example, they stated that it not only improved individual learning but also acted as a catalyst for whole-class discussion and prompted a desire to engage in further template creation [35].

‘Template-based learning not only facilitated reflection and the propagation of awareness, but also acted as a catalyst for learning through interaction with classmates’

(P10)

‘The discussion around the template also showcased the individual findings of the participants and, as one of the outcomes of the template-based theoretical learning, reaffirmed that we really feel that we want to proactively contribute to the strategic sustainability of society and business in our own country’

(P26)

‘SWOT is an easy-to-use model, but has weaknesses and threats, [there are weaknesses regarding] internal systems and human resources and institutional failures, as there were family ties, which, in the real business world, are key, the reality of traditional and indigenous institutions such as religion, co-operatives and trade associations compensating for this is not found in textbooks’

(P16)

‘For example, organisational culture, such as a shared mission and values, affinity for technology and openness to collaborate outside the organisation, have been discarded as economic indicators, but these factors are not incorporated into existing established models’

(P8)

Beyond the general discussion and exploration of the textbook findings on business strategy and bridging theory and practice, the young entrepreneurs supported the use of the scaffolding materials, with some saying that the materials had helped them learn to think for themselves. Furthermore, some of the materials had helped them learn that the process of creating the templates was itself a learning opportunity [36].

‘Participation in the process of creating the templates may lead to the acquisition of learning outcomes. We should be interested in the process of creating the templates’

(P12)

The difference between the participants’ comments from before and after the module captured their views on template-based learning. Kim and Lee [37] have discussed the effect of CSR fit and CSR authenticity on a company’s brand, goods, and services to sustain business behaviour, while Gerner [38] has stressed the importance of managing sustainability in global markets across cultures. The comments given by the interviewees demonstrate that the provision of additional support is crucial to enriching the understanding, and enhancing the practical skills, of the next generation of entrepreneurs. At the same time, as Gronfula [39] has argued, entrepreneurial education needs to focus on the link between CSR beliefs and actual ethical behaviour among SME entrepreneurs.

4.4. Discussion

This study examined the applicability of scaffolding materials in traditional business analysis learning by text mining interview data from class participants. After interviewing participants about their impressions and evaluations of the scaffolding materials (the templates) and their opinions about learning to use the business analysis models, the following key nodes and subtopics emerged and were validated.

Most participants stated that the greatest benefit of the template-based reflective learning session was that it allowed them to complete the template and show it to others, stimulating discussion across the whole class and reinforcing their understanding of the models and theories covered in the foundation module. They also remarked that creating their own templates, sharing them with others across the class, and evaluating them, helped them to refine their views on business analysis. Many expressed concerns regarding the potential challenges of applying well-known models presented in textbooks to real-world situations, especially given that invisible values and non-economic factors, such as the impact of social institutions, can make these models less accurate. These template-based reflections are valuable because new findings and realisations often came to light during the process of filling out and discussing the template. The participants’ comments align with comments made by Omeihe et al. [40], who emphasised the role of entrepreneurial leaders in carrying out sustainability strategies for Nigerian SMEs.

The discussions were tailored towards aspiring entrepreneurs from developing countries, where concepts of ‘connectedness’ and ‘trust’ are embedded in society as inherent social systems that can affect economic behaviour. The templates also supported mutual learning, in that, being created by each individual, they helped affirm the students’ entrepreneurial skills by enabling them to share ideas and narratives, further demonstrating the efficacy of the templates as learning tools. As Murray et al. [41] claim, establishing useful methods for educating young entrepreneurs requires an interactive assessment of the materials used for, and the styles of, teaching and learning. Given its effectiveness in this study, template-based learning could act as a guidepost for entrepreneurial education in the future.

For example, with regard to creativity, the study highlighted the fact that participants were thinking in terms of their own resources and hidden values, which helped them to realise that it is their important responsibility as entrepreneurs to perform their function as evangelists and advocates for their own resources. Although there are many definitions and application models used in the discussion of creativity, from Schumpeter’s famous neocombination argument to today’s frameworks, the results of this analysis showed that, in fact, new value can be fostered by uncovering, valuing, and revaluing existing hidden resources [42].

In addition, the social learning theory framework was found to be valued for its template-based learning, which allows learners to interact with each other, recognise different perspectives, and realise that they should enhance their own competencies [35].

5. Conclusions

5.1. Theoretical Contributions

This study examined the usefulness of scaffolding materials and provides practical recommendations for entrepreneurship education. The template teaching material developed by the authors is based on the existing model of business analysis taught in lectures. This existing model has been sublimated into a generic model, with which students can identify the circumstances and cultural backgrounds specific to individual contexts, while individual entrepreneurs, using this generic framework, can create their own insights and discussions to become aware of unique aspects and values which could be utilised for their businesses.

The results of this study suggest that the template, as a tool for awareness, can be useful in promoting entrepreneurial activities. Furthermore, social learning theory, the theoretical frame on which this study is based, highlights the need to confirm and foster creativity and one’s own competencies, suggesting that the template is not only useful, but that it can also be used to develop a grand design of business studies from a larger perspective.

The fact that we were able to confirm that social learning theory can serve as a major guideline for opening up perspectives on non-economic factors and the context of actual business situations, and for evaluating opportunities for collaborative learning among participants, is expected to serve as a guidepost for future research and practice in this field.

5.2. Practical Contributions

The greatest practical contribution of this study is the conclusion that the use of scaffolding materials in entrepreneurship education can enhance students’ understanding of how conceptual models are applied and how they relate to more diverse and complex real-world business contexts. Much of the discussion on scaffolding education has provided suggestions regarding its application in different languages and learning contexts. This study demonstrates the effectiveness of templates as a simple way to support learning in entrepreneurship education without burdening educators. As an unintended effect of this experiment, the results also show that template-based learning contributes to stimulating class discussion and increasing students’ awareness of the material.

Furthermore, the finding that the perspectives suggested by social learning theory can be an effective guideline for planning learning support measures for prospective entrepreneurs in developing countries provides a platform for proposing specific support measures in the field of educational practice in the future. This is another great practical contribution of this study.

5.3. Limitations and Further Research Opportunities

This study qualitatively confirmed the catalytic effect of using scaffolding materials in post-module reflection to deepen students’ understanding of theories and models. However, the results are also impacted by limitations that suggest the need for further study. This research could be advanced by verifying the template effect using more objective methods and generalising the findings. For instance, the impact that filling in the template has on stimulating class discussion and deepening students’ understanding could be translated into a quantitative analysis by using a contingent valuation model to verify learners’ intentions to use the template.