The Integration of Resource-Based View, Experiential Learning Theory and Entrepreneurship Education Models as Triangulated Model in Cultivating an Entrepreneurial Mindset and Work-Based Learning Experiences as Strategies for Student Career Readiness.

The Integration of Resource-Based View, Experiential Learning Theory and Entrepreneurship Education Models as Triangulated Model in Cultivating an Entrepreneurial Mindset and Work-Based Learning Experiences as Strategies for Student Career Readiness.

Sahadah Haji Abdullah¹, Mohd Syahrir Rahim², Syerien Natasya Mohd Syahrir³

College of Business, Universiti Utara Malaysia,

Sintok, 06010, Kedah, Malaysia

DOI: https://doi.org/10.51584/IJRIAS.2024.90105

Received: 24 December 2023; Revised: 02 January 2024; Accepted: 04 January 2024; Published: 31 January 2024

ABSTRACT

This study analyzes the integration of Resource-Based View (RBV), Experiential Learning Theory (ELT), and Entrepreneurship Education Models (EEMs) to create an entrepreneurial attitude and boost student career preparation. The proposed triangulated model provides a comprehensive approach to promoting entrepreneurial mindsets and work-based learning opportunities. Using the Resource-Based View (RBV), students can identify and take advantage of their distinct resources, which cultivates a forward-thinking attitude essential for success in the contemporary professional environment. The field of ELT highlights the crucial impact of experiential learning on education, facilitating the creation of job-related learning opportunities that foster practical skills and knowledge necessary for entrepreneurial pursuits. Furthermore, EEMs offer a holistic viewpoint, recognizing the significance of people’s capacities and the surrounding context in attaining entrepreneurial achievement. This integrated strategy caters to the requirement of specialized programs that thoroughly equip students for the swiftly evolving job market, providing valuable insights for educators and institutions.

Keywords: Triangulated Model, Entrepreneurial Mindset, Work-Based Learning Experiences, and Student Career Readiness

BACKGROUND OF THE STUDY

In the dynamic realm of higher education and workforce development, the imperative of equipping students for prosperous professions has grown significantly vital. Academic institutions have a distinct advantage in providing knowledge and cultivating students with the necessary skills, abilities, and mindset crucial for succeeding in the professional realm (Han & Yu, 2022). In light of the rapid changes in the global economy, developing an entrepreneurial mindset has become crucial to prepare students with the necessary skills of adaptation, ingenuity, and resilience needed in today’s professional world. This supports the claim made by Winborg and Hägg (2022) that in the ever-changing field of education and workforce development, it is more important than ever to provide students with the necessary skills for successful and satisfying employment. In order to meet this requirement, a unique strategy that combines the Resource-Based View (RBV), Experiential Learning Theory (ELT), and Entrepreneurship Education Models (EEMs) can be utilized to enhance students’ preparedness for their careers (Motta & Galina, 2023). By utilizing a range of theoretical frameworks, educational institutions can design a comprehensive program that successfully tackles the various components of career development. This study aims to investigate a comprehensive strategy by combining RBV, ELT, and EEMs into a triangulated framework. This integration aims to improve the effectiveness of educational approaches in promoting entrepreneurial mindsets, equipping students for the dynamic nature of the labor market, and preparing them for the many requirements of the modern professional world.

The RBV is widely recognized as a helpful theoretical framework in strategic management, highlighting the strategic significance of an organization’s internal resources and capabilities. Applying RBV to education helps us understand how students may use their distinct abilities, skills, and experiences as important assets to achieve entrepreneurial success. This study explores how educational institutions strategically develop and utilize internal resources by integrating a Resource-Based View RBV to foster an entrepreneurial mindset among students.

In addition to the RBV, the ELT developed by David Kolb, emphasizes the profound impact of practical experiences on learning. The theory of Experiential Learning suggests that individuals achieve optimal learning outcomes when they are actively involved in events that facilitate introspection and the formation of abstract concepts. We aim to integrate ELT into our framework to create work-based learning opportunities that fully engage students in real-life situations, cultivating the practical skills and insights necessary for entrepreneurial pursuits. The EEMs offer a more comprehensive viewpoint, acknowledging that achieving entrepreneurial success is contingent on human abilities and inextricably connected to the surrounding environment.

By incorporating these tactics, students can better comprehend the global market, improve their multicultural skills, and cultivate inclusive leadership attributes. Incorporating experiential learning opportunities and reflective practices can enhance students’ job readiness by promoting self-awareness, resilience, and self-leadership (Neergard et al., 2022; Motta & Galina, 2023). This project aims to provide a comprehensive and integrated model that combines the RBV, ELT, and EEMs. This concept offers a comprehensive framework for educators and institutions to improve student career preparedness by fostering an entrepreneurial mindset and facilitating valuable work-based learning opportunities. This integration provides useful insights into the continuing discussion on innovative educational approaches and their effect on preparing students for the demands and possibilities of the contemporary workforce.

PROBLEM STATEMENT AND RESEARCH QUESTION

The convergence of academic readiness and practical preparedness for the modern workforce has become increasingly crucial, leading to a greater focus on fostering entrepreneurial mindsets and incorporating work-based learning experiences in higher education. The existing literature on EEMs needs to provide a comprehensive and unified framework that integrates the strategic internal focus of RBV and the ELT, despite their acknowledged significance. A triangulated model is necessary to thoroughly comprehend how educational institutions may cultivate entrepreneurial mindsets and improve student career preparedness.

The current body of research offers valuable insights into the separate components of RBV, ELT, and EEMs. However, it needs an integrated approach that considers the synergistic effects among these parts. Therefore, there needs to be more knowledge on the successful application of the internal resources emphasized by the RBV in practical learning situations. This is further supported by the encompassing entrepreneurial ecosystem represented by EEMs. It is essential to address this gap to design focused programs that comprehensively prepare students for the demands and possibilities of a quickly changing employment market.

Moreover, a comprehensive framework is necessary to identify optimal methods and develop evidence-based interventions in educational environments. Without a comprehensive comprehension, educators, and institutions may need help creating and executing efficient programs that smoothly include RBV principles, ELT methodology, and the broader context offered by EEMs.

Hence, the purpose of this investigation is to tackle the subsequent research query: How can combining the RBV, ELT, and EEMs in an educational framework create a synergistic approach to developing an entrepreneurial mindset and providing practical learning experiences, ultimately improving students’ preparedness for careers in higher education? The project aims to address the current gap in the literature and provide practical insights for educators, policymakers, and stakeholders interested in preparing students for success in the ever-changing and competitive professional environment.

OBJECTIVES OF THE STUDY

This study aims to create an extensive model that combines RBV, ELT, and EEMs inside an entrepreneurial education framework. The following objectives support this target.

• To Investigate the Strategic Integration of RBV in Entrepreneurial Education;
• To Examine the Application of ELT in Work-Based Learning Contexts;
• To Explore the Role of EEMs in Fostering an Entrepreneurial Ecosystem; and
• To Assess the Synergies Among RBV, ELT, and EEMs.

By addressing these research objectives, the study seeks to contribute to the current body of literature by addressing these research objectives. It aims to provide a thorough and cohesive framework that informs educational practices, policy development, and stakeholder engagement to advance entrepreneurial education in higher education settings.

LITERATURE REVIEW AS A RESEARCH METHODOLOGY IN CONCEPTUAL STUDY

A conceptual paper is a research document that explores and examines abstract or theoretical notions or ideas. Typically, it encompasses an analysis of the pertinent literature and an exposition of the concept(s) under consideration. Conceptual papers introduce novel or improved theories or frameworks or propose fresh research avenues. The primary distinction between conceptual and research papers is their respective focuses. Conceptual papers primarily centre around abstract or theoretical concepts, whereas research papers entail empirical research or experiments. In short, conceptual papers utilize empirical evidence to substantiate their arguments or proposals (Singh, 2023; Snyder, 2019). In the context of writing up a conceptual study of this paper, the literature review serves as a crucial research methodology, which involves a comprehensive examination and synthesis of existing scholarly works, theories, and concepts related to the topic of the study, i.e.:

• Identifying existing knowledge, theories, and models related to the topic;
• Establishing the theoretical framework of the study by identifying critical theories, concepts, and models that will form the foundation of the paper’s argument and discussion;
• Supporting the conceptual framework by providing evidence, examples, and theoretical underpinnings for the ideas being presented helps in grounding the conceptual framework in established scholarship;
• Identifying gaps, contradictions, and areas of debate within the existing literature, which helps in shaping the focus and argument of the conceptual paper by highlighting areas where new conceptual insights are needed;
• Building a comprehensive argument to build a comprehensive and well-informed argument by integrating and synthesizing diverse perspectives, findings, and theories from existing literature; and
• Informing implications and recommendations by drawing on the insights and findings from existing research and theory.

In summary, the literature review in the context of writing a conceptual paper for this study serves as a foundational research methodology that informs the development of the conceptual framework, supports the argumentation, and ensures that the paper is situated within the broader scholarly conversation. It is essential for grounding the conceptual paper in existing knowledge while also identifying opportunities for new conceptual contributions.

4.1    The Role of Entrepreneurial Mindset in Career Readiness

The entrepreneurial mindset is now widely acknowledged as essential for preparing for a profession in today’s intricate and linked environment. The significance of an entrepreneurial mindset in preparing for a profession is of utmost importance in the current dynamic and cutthroat employment market. Given the increasing demand for entrepreneurial abilities and traits in many sectors, students must cultivate a mindset that corresponds to the requirements of the contemporary labor market (Abdelkarim, 2021). By fostering an entrepreneurial mindset, students may augment their adaptability, originality, and problem-solving prowess, all of which are much esteemed by employers. By adopting an inclusive approach that incorporates many ideas and models, educators and students may acquire a more profound comprehension of the formation of an entrepreneurial mindset and its pivotal significance in defining one’s preparedness for a profession. Therefore, it is crucial for educational institutions and students to acknowledge the importance of an entrepreneurial mindset in preparing for the future labor force (Kidman et al., 2023). An essential aspect of navigating the current educational environment is adopting a comprehensive strategy to comprehend and encourage the growth of an entrepreneurial mindset. Researchers have developed a more comprehensive understanding of the various factors that influence students’ entrepreneurial intentions and decisions by RBV, ELT and EEMs (Peng et al., 2020).

The combination of RBV, ELT and EEMs establishes a strong basis for students to comprehend the strategic management components of entrepreneurship, acquire knowledge from practical encounters, and mold their entrepreneurial identity (Gutiérrez et al., 2019). Furthermore, this comprehensive approach gives students the essential abilities and perspective to explore professional options and make well-informed choices. By incorporating components from social learning theory and career models, students are equipped with enhanced readiness to discern attainable professional objectives and formulate efficient tactics to accomplish them. A thorough comprehension of the entrepreneurial mindset cultivates a mindset inclined toward entrepreneurship and equips students with the necessary skills for achieving success in many professional pursuits (Schultz, 2021).

By recognizing the interdependence of these many ideas and models, educators and researchers may construct a more comprehensive framework for assisting students in their entrepreneurial endeavors. The integrated approach offers a comprehensive knowledge of forming an entrepreneurial mindset and its importance in preparing for a profession (Vold, 2023). Moreover, it is crucial to comprehend how experience learning processes, network and industry socialization, and negotiation contribute to forming an entrepreneurial identity. By incorporating these observations into teaching methodologies, educators may more effectively foster the development of an entrepreneurial mindset in pupils, equipping them for triumph in a swiftly evolving and cutthroat labor market (Abun et al., 2022).

Cultivating an entrepreneurial mindset in students necessitates a methodical strategy incorporating many components to guarantee comprehensive growth. By combining RBV, ELT and EEMs, a comprehensive framework can be established to cultivate students’ entrepreneurial mindset and equip them for career readiness (Wijaya, 2023). An effective approach is integrating entrepreneurial role models and inspirational personalities into the academic curriculum. By exposing pupils to accomplished business models, educators may inspire and motivate prospective entrepreneurs, enabling them to relate to and acquire knowledge from the experiences of established professionals. This method enhances students’ self-assurance and imparts them with useful perspectives on the entrepreneurial process, influencing their entrepreneurial identity and ambitions (Al-Qadasi et al., 2021).

Moreover, it is crucial to implement a well-defined career management framework that covers every stage of the entrepreneurial career decision-making process. Educators may equip students to confidently and purposefully manage the intricacies of entrepreneurial efforts by guiding them in developing realistic objectives and adopting good career plans (Schwarz et al., 2021). This complete strategy for career management promotes a proactive mindset and provides students with the essential tools to make well-informed decisions regarding their professional futures. Moreover, it is essential to establish avenues for experiential learning using internships, apprenticeships, and consultancy projects. This will enable students to cultivate practical competencies and get firsthand experience in authentic entrepreneurial scenarios. These experiences enable students to use their knowledge in dynamic contexts and foster the development of essential entrepreneurial characteristics such as flexibility, creativity, and problem-solving (Nogueira, 2018).

In essence, cultivating an entrepreneurial mindset among students requires a comprehensive strategy incorporating several theories and tactics. Educational institutions can effectively cultivate students’ entrepreneurial aspirations and improve their preparedness for the future workforce by exposing them to successful entrepreneurs, implementing a well-organized career management model, and providing opportunities for hands-on learning.

4.2    Work-Based Learning Experiences and Their Impact on Career Readiness

Integrating work-based learning experiences into entrepreneurship education can substantially affect students’ preparedness for their careers. Studies have demonstrated that engaging in work-based learning in social entrepreneurship may successfully cultivate the mentality and abilities necessary for those seeking to become entrepreneurs (Ng et al., 2022). Through internships, apprenticeships, and consultation projects, educators may foster practical skills necessary for managing the intricate aspects of entrepreneurship (Vold, 2023). These experiences improve students’ comprehension of entrepreneurial concepts and cultivate an entrepreneurial mindset, equipping them to adapt and persevere in a rapidly changing professional environment (Fellnhofer, 2017; Viebig, 2022).

Furthermore, work-based learning offers advantages that go beyond the development of practical skills. In addition, they allow students to connect with professionals in the sector, acquire experience in entrepreneurial scenarios, and use their expertise in various and dynamic environments. Exposure to entrepreneurship can facilitate the cultivation of a more comprehensive outlook, bolster problem-solving skills, and foster self-assurance in students’ entrepreneurial aptitude (Motta & Galina, 2023). Integrating work-based learning experiences into entrepreneurship education is consistent with the prevailing emphasis in entrepreneurship education, highlighting the significance of acquiring hands-on, practical experience and exposure to various entrepreneurial scenarios (Kim, 2021; Carutasu & Carutasu, 2017). By adopting this methodology, educational establishments may have a pivotal impact in equipping students with the necessary skills and knowledge to navigate the demands and possibilities of the contemporary labor market, therefore fostering the development of a pool of entrepreneurial talent well-prepared for the future (Kim, 2021).

4.3    The Under Pinning Theory and Discussion of  Theoritical Framework

Work-based learning activities are undeniably essential for fostering an entrepreneurial attitude. By integrating the RBV, ELT, and EEMs, educational institutions may efficiently utilize the benefits of these experiences to shape students’ job preparedness and foster their entrepreneurial aspirations. The theoretical framework of this study was constructed using the RBV of Entrepreneurship introduced by Barney (1991), the ELT proposed by David Kolb (1984), and several EEMs.

• Strategic Integration of RBV in Entrepreneurial Education

The resource-based perspective of the company is a well-established management theory that examines an organization’s resources and capabilities to assess strategic planning. It possesses a robust track record in researching small businesses. It has been employed to comprehend the intricacies of company initiation and the entrepreneurial mindset of those engaged in such endeavors. The RBV theory highlights that entrepreneurial orientation and strategic business orientation are deliberate decisions that may be viewed as two distinct resource strategies within the business strategy framework. In addition, researchers have emphasized the importance of integrating the RBV with evolutionary economics and entrepreneurship studies in order to fully understand its wide-ranging consequences for the economy as a whole (Adam et al., 2022; Akingbola, 2013; Lockett & Thompson, 2001). Combining concepts from the RBV with evolutionary economics and entrepreneurship makes it possible to create a “resource economy” where enterprises generate and trade valuable resources. This enhances the company’s traditional RBV, which usually emphasizes the internal growth of resources and neglects the broader elements of resource interchange.

An essential obstacle in incorporating RBV into the entrepreneurship curriculum is the requirement for a thorough comprehension of how to convey and transmit the ideas of RBV to students proficiently. Due to the intricate nature of RBV theory and its strategic significance, educators may have challenges in effectively explaining the intricacies of this framework to prospective entrepreneurs (Mohamed et al., 2021; Sawaean et al., 2021; Ratum buysang, 2018; Pindado & Sánchez, 2017). Furthermore, applying RBV concepts to the dynamic environment of entrepreneurial enterprises and start-ups presents a distinct challenge. It needs regular updates and contextual adjustments to ensure continued relevance and effectiveness.

The RBV, commonly used in entrepreneurship, proposes that a firm’s sustained competitive advantage is derived from its distinct and valued resources. In order to thoroughly evaluate the influence of the Resource-Based View on entrepreneurial learning, it is crucial to examine the many aspects of how RBV principles affect the acquisition of entrepreneurial knowledge and skills (Sawaean et al., 2021; Adam et al., 2022). This idea centers on identifying and utilizing distinctive resources and competencies that enhance a company’s competitive edge. Within the scope of this research, the RBV perspective may be utilized to examine the entrepreneurial attitude, skills, and knowledge obtained via entrepreneurial education and work-based learning as essential assets. RBV regards the entrepreneurial attitude as a valuable asset that students obtain via education and hands-on learning. The attitude that includes inventiveness, willingness to take risks, and flexibility to adapt becomes a unique asset that enhances students’ competitive edge in their professional pursuits.

RBV guides identifying specific educational resources such as curriculum designs, teaching techniques, and practical learning opportunities that foster the growth of an entrepreneurial attitude and improve preparedness for future careers. The RBV underscores the significance of both tangible and intangible resources in establishing a durable competitive advantage. When used in work-based learning experiences, this theory emphasizes the need to provide students access to various resources, such as industry mentors, real-world entrepreneurial challenges, and practical hands-on experiences (Diepolder et al., 2021). By exposing students to surroundings rich in these resources, educators may effectively foster the acquisition of valuable entrepreneurial skills and competencies, augmenting their preparedness for the professional arena (Schultz, 2021). Integrating RBV into entrepreneurship education requires thoroughly examining its effects on student learning outcomes and cultivating entrepreneurial skills. By evaluating the influence of RBV integration, educators and stakeholders can learn the efficacy of utilizing RBV as a strategic asset in promoting entrepreneurial learning experiences (White, 2021).

An essential factor to consider is the impact of RBV on fostering a proactive and inventive mentality among pupils. When RBV ideas are successfully integrated into educational frameworks, they can promote a change in thinking that focuses on recognizing and leveraging distinctive and valuable resources in entrepreneurial situations. Consequently, this fosters an entrepreneurial attitude crucial for identifying and capitalizing on possibilities in ever-changing business environments (Junaidin & Supriyatno, 2022; Beamish & Chakravarty, 2021). Moreover, it is essential to assess the influence of RBV on the development of strategic thinking and decision-making abilities. Integrating the RBV theory can improve students’ capacity to assess and leverage internal capabilities and external possibilities. This, in turn, strengthens their ability to develop and execute entrepreneurial strategies that generate and maintain a competitive edge.

• Application of ELT in Work-Based Learning Contexts

The idea of experiential learning offers a complete framework for comprehending and creating work-based learning interventions. ELT conceptualizes learning as an ongoing process encompassing experiences, introspection, cognition, and implementation. ELT prioritizes the significance of acquiring knowledge through firsthand involvement. This method emphasizes the importance of practical experiences, social contact, and internal motivation for learners. This theory proposes that the learning process is cyclical and consists of four stages: tangible experience, reflective observation, abstract conceptualization, and active experimentation. Optimal learning occurs when individuals actively participate in a perpetual cycle of these stages, facilitating a comprehensive comprehension of a topic. ELT plays a vital role in integrating practical skill development, engagement, and perceived employ ability abilities among higher education students in the context of work placement learning (Zubaroglu & Popescu, 2016; Plapper, 2022).

This theory corresponds to the fundamental nature of work-based learning experiences, in which students participate in practical activities (concrete experience), contemplate their experiences in the workplace (reflective observation), develop theories based on these reflections (abstract conceptualization), and actively apply their newly acquired knowledge (active experimentation). ELT is particularly suitable for fostering an entrepreneurial attitude because of its emphasis on experiential learning and reflective practices. Entrepreneurs frequently develop their abilities via firsthand experiences, making ELT a helpful paradigm for incorporating hands-on learning into entrepreneurship education. Moreover, incorporating the tenets of ELT into work-based learning encounters underscores the significance of introspection and hands-on experimentation in acquiring knowledge. Students participate in internships, apprenticeships, and consultancy projects to get practical experience in entrepreneurial situations. This enables them to use their theoretical knowledge, reflect on their experiences, and adjust their methods based on feedback. Individuals can modify their methods and strategies by incorporating feedback from their encounters and experiences (Zubaroglu & Popescu, 2016; Taneja et al., 2023). This iterative approach enhances their comprehension of entrepreneurship and nurtures the growth of resilience, flexibility, and inventiveness — crucial attributes of an entrepreneurial mentality.

Furthermore, an increasing emphasis is on reshaping the educational environment to provide students with exceptional field placements. This program seeks to provide novel and exciting outdoor education methods while incorporating research and practical applications to improve students’ learning experiences. Moreover, the efficacy of implementing ELT in educational and corporate environments is substantiated by both qualitative and quantitative research. These studies provide evidence of the efficacy of ELT in promoting learning and enhancing the acquisition of skills (Unger & Hanekom, 2014; Kong, 2021). In general, incorporating ELT into work-based learning not only improves the educational experience for students but also fosters the acquisition of practical skills and promotes their chances of finding employment. This method provides advantages for individual learners and has wider ramifications for the education and business sectors.

• The Role of EEMs in Fostering an Entrepreneurial Ecosystem

Entrepreneurship education is a comprehensive strategy that seeks to foster an entrepreneurial mindset and provide students with the necessary information and skills to thrive as entrepreneurs. Its objective is to enhance knowledge and comprehension of entrepreneurship as a systematic procedure while promoting it as a feasible career option. Entrepreneurship education includes examining local entrepreneurial resources, evaluating the essential abilities needed for successful entrepreneurship and creating a high school curriculum that incorporates entrepreneurship as a fundamental element. Entrepreneurship education provides individuals the essential information and abilities to succeed in the entrepreneurial environment (Juvonen & Kurvinen, 2018; Hidayah et al., 2022). This educational framework extends beyond the mere transmission of business ideas and instead emphasizes the cultivation of the mentality and skills necessary for prosperous entrepreneurship.

Furthermore, an entrepreneurship ecosystem refers to the active and evolving relationship between universities and entrepreneurs, involving sharing entrepreneurial mindsets, skills, and ambitions (Rusok et al., 2017; Caputo & Ayoko, 2021). This connection facilitates the distribution of resources, resulting in the establishment of novel enterprises and technological advancements. The notion of an entrepreneurship ecosystem is based on the principles of economic geography, regional innovation and entrepreneurship systems, and the exchange of information within the entrepreneurial domain.

A comprehensive entrepreneurship education program incorporates several components, such as hands-on experience, exposure to authentic entrepreneurial obstacles, and guidance from accomplished entrepreneurs (Caputo & Ayoko, 2021). By furnishing students with these materials, educational institutions may proficiently equip them to identify and exploit economic chances. When adopting entrepreneurial education models, educators and policymakers encounter several obstacles, including limited resources, a shortage of skilled faculty, and the necessity to adjust to the dynamic business environment constantly. Institutions must adopt innovative strategies, utilize technology, and establish partnerships with industry leaders to overcome these challenges and ensure the efficacy of entrepreneurship education (Siyanbola et al., 2011; Sahadah et al., 2017; Caputo & Ayoko, 2021).

Various models and theories, such as the Innovative Teaching Model for Entrepreneurship Education (Sukavejworakit et al., 2018), the Multilevel Model Of Entrepreneurship Education (Hou et al., 2022), the Innovative Entrepreneurial Teaching and Learning (Sahadah et al., 2017), the Entrepreneurial Education Model (Ras & Pretorius, 2007), the new ‘enterprise’ and ‘entrepreneurship’ paradigm for learning (Gibb, 2002), and the Social Learning Theory (Bandura, 1960), encompasses a range of approaches aimed at developing entrepreneurial skills, attitudes, and behaviours in individuals. These approaches frequently prioritize experiential learning, innovation, and risk-taking as essential elements of business. The concept promotes incorporating entrepreneurial ideas into other fields, cultivating a mindset that surpasses conventional limits. This integration is in line with the multidisciplinary character of work-based learning experiences. These approaches frequently prioritize cultivating critical thinking, problem-solving, and invention skills, all essential elements of an entrepreneurial mindset. By incorporating these models into practical learning opportunities, students can improve their capacity to utilize these skills in authentic situations (Sahadah et al., 2017; Gibb, 2002; Neneh, 2022; Feranita et al., et al., 2022; Marini et al. et al., 2022; Su et al., 2023).

THE SYNERGIES AMONG RBV, ELT, AND EEMS IN CULTIVATING AN ENTREPRENEURIAL MINDSET AND WORK-BASED LEARNING EXPERIENCES

The amalgamation of various theories and modeling ultimately results in a comprehensive learning experience wherein students get an entrepreneurial mindset and actively employ and enhance their abilities in practical situations. This triangulation thoroughly comprehends how educational resources, experiential learning processes, and unique pedagogical techniques contribute to a diverse environment for comprehending the complex nature of cultivating an entrepreneurial mentality and work-based learning. The alignment and integration of the two processes, namely, interaction and cultivation, work together harmoniously to foster an entrepreneurial mentality and augment students’ preparedness for their careers.

The RBV highlights the ongoing significance of learning and resource cultivation, offering a structure for comprehending how businesses and people may efficiently employ internal resources to stimulate entrepreneurial endeavors (Lee & Yun, 2020; Motta & Galina, 2023). The ELT, advocated by Kolb, plays a crucial role in enhancing problem-solving skills and strengthening the conviction in the viability of entrepreneurial ventures (Kulkarni, 2019). The program offers a practical approach that enables participants to use theoretical knowledge in actual entrepreneurial environments, promoting the growth of attitudes such as self-confidence and initiative (Morris, 2022). The integration of experiential learning becomes even more powerful when combined with the resource-based paradigm. By examining the interconnections between ELT and the RBV, we may better comprehend how entrepreneurship education involves acquiring information and utilizing resources and talents to drive innovation and achieve entrepreneurial triumph.

Moreover, by exploring the consequences and practical uses of entrepreneurial education models in this context, we can reveal the complex relationships between hands-on learning, efficient use of resources, and broader environmental factors. Understanding how these models overlap and impact entrepreneurial growth is essential in fostering a complete approach to establishing an entrepreneurial mindset and work-based learning.

Examining these synergies provides a comprehensive comprehension of how RBV, the ELT, and EEMs may collaboratively influence the learning experiences and possibilities for prospective entrepreneurs. By utilizing these interrelated sources, we may construct a more thorough understanding of the complex mechanisms that support the growth of entrepreneurship and the development of an entrepreneurial mindset.

Figure 1: The TREEE Model, a Triangulated Model in Cultivating an Entrepreneurial Mindset and Work-Based Learning Experiences as Strategies for Student Career Readiness.

This analysis of the relationship between the resource-based approach, experiential learning theory, and entrepreneurial education models enhances our understanding of the intricate and interrelated aspects that influence entrepreneurial learning and the development of an entrepreneurial mentality. It offers a solid basis for directing the growth of creative and influential entrepreneurial education projects and work-based learning experiences. The simplified model called TREEE model depicted in Figure 1 visually illustrates the triangle of RBV, ELT, and EEMs, emphasizing their interconnected roles in developing an entrepreneurial mindset and promoting work-based learning opportunities for students.

CONCLUSION

This study has examined the importance of providing students with the essential skills, talents, and mentality vital for success in the professional domain. The study seeks to examine a holistic approach by integrating RBV, ELT, and EEMs into a triangulated framework to enhance the efficacy of educational methods in fostering entrepreneurial mindsets and equipping students for the ever-changing labor market. The RBV approach emphasizes the strategic importance of an organization’s internal resources and capabilities. Utilizing the RBV in the context of education allows us to comprehend how students may leverage their unique abilities, skills, and experiences as valuable resources to attain entrepreneurial success. The RBV cultivates a forward-thinking and innovative mindset in students, which is crucial for success in today’s professional landscape. David Kolb’s ELT highlights the significant influence of hands-on experiences on learning. According to Experiential Learning, individuals attain the best learning results when they actively participate in activities that promote self-reflection and the development of abstract ideas. By incorporating ELT into the framework, it is possible to establish work-based learning opportunities that effectively involve students in authentic scenarios, fostering the development of practical skills and knowledge essential for entrepreneurial endeavors. The EEMs provide a holistic perspective, recognizing that attaining entrepreneurial success depends on people’s capabilities and is closely linked to the surrounding context. By implementing these strategies, students may enhance their understanding of the global market and intercultural competencies and foster inclusive leadership qualities.

The suggested TREEE model is a triangulated model that graphically represents the interrelated functions of RBV, ELT, and EEMs in fostering an entrepreneurial mindset and facilitating work-based learning opportunities for students. The approach highlights the significance of cultivating an entrepreneurial culture, implementing practical measures, and utilizing experience-based ELT. Additionally, it emphasizes the essential aptitudes for an entrepreneurial mentality, including an internal center of control, intrinsic drive, resilience, growth mindset, critical thinking, self-efficacy, self-reliance, and future orientation. The approach also highlights the significance of proactive execution, vocational preparedness, and personal proficiencies such as adaptability, entrepreneurial aptitude, and inventive thinking. The amalgamation of RBV, ELT, and EEMs offers a complete structure for educators and institutions to enhance students’ readiness for their careers by promoting an entrepreneurial mentality and supporting meaningful work-based learning experiences. The methodology provides a robust foundation for guiding the development of innovative and impactful entrepreneurial education initiatives and experiential learning opportunities. The simplified form termed the TREEE model visually depicts the triangle of RBV, ELT, and EEMs, stressing their interwoven responsibilities in fostering an entrepreneurial mentality and increasing student work-based learning opportunities.

The study underlines the necessity of knowing how different models overlap and affect entrepreneurial growth to build a complete approach to entrepreneurial mindset and work-based learning. The suggested triangulated model offers a holistic approach to building an entrepreneurial mentality and work-based learning experiences for student job preparedness. The model gives essential insights into the current discussion on new educational techniques and their influence on preparing students for the needs and opportunities of the contemporary workforce. The report also addresses the problems in adequately presenting the nuances of RBV theory to prospective entrepreneurs and the necessity for continuous updates and contextual changes to ensure its sustained relevance and efficacy. It also underlines the significance of addressing the gap in the literature to build specialized programs that thoroughly equip students for the quickly changing work market.

In conclusion, integrating RBV, ELT, and EEMs provides a holistic framework for educators and institutions to increase student job readiness by cultivating an entrepreneurial mentality and providing meaningful work-based learning opportunities. The proposed triangulated model, named the TREEE model, clearly depicts the linked functions of RBV, ELT, and EEMs in establishing an entrepreneurial mentality and providing work-based learning opportunities for students. The methodology gives a solid platform for directing the creation of creative and influential entrepreneurial education initiatives and work-based learning experiences. The study contributes to the continuing conversation on new educational techniques and their influence on preparing students for the contemporary workforce. It gives practical insights for educators, policymakers, and others concerned with student achievement.

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