Entrepreneurship is a way of life(2)
Z: We know a lot of young kids have big dreams of "some day…" Starting a business, running a nonprofit, managing a team, and making a difference. Will they learn all the necessary skills in Babson?
B: Yes, I believe so. Especially learning how to be part of a team is one of the critical skills taught at Babson.
Z: I read through the faculty specialty area listed on Babson webpage and find that you have more history professors than science professors. So just out of curiosity, now technology innovation dominates the entrepreneur activities, if students don’t have any technology background, how can they become successful entrepreneurs in this IT era?
B: Our emphasis is on developing tomorrow’s global business leaders, not just limited within technology. However, our collaboration with the Olin College of Engineering gives those students who are interested in technology the opportunity to learn.
Z: Critics of MBA education say the business education will only transform students into better corporate man, and many actually consider entrepreneurship can’t be taught. What is your opinion on that?
B: Good question! Having an entrepreneurial mindset can’t be taught but being a successful entrepreneurial thinker can.
Z: One priority on your agenda is to sustain Babson’s role as a pacesetter in curriculum innovation. So President Barefoot, what are the distinctive characteristics of Babson’s MBA courses?
B: At Babson, we offer integrative teaching...that is more than one discipline taught in the classroom at the same time. Also, the use of technology to enable learning.
Z: Being No 1 in entrepreneurship ranking for 12 consecutive years. Does Babson feel pressure? Of course things can’t be perfect, what is the biggest challenge that Babson is facing now?
B: No one wants to be here when we are not #1 but that day will come. In my opinion, our biggest challenge is having enough resources to take advantage of all our opportunities.
Z: Entrepreneurship becomes increasingly active in China. But the report from Global Entrepreneurship monitor shows that the capability and level for entrepreneurship in China is lower than the average level of the world. What is your comment and suggestion on that?
B: That will change very quickly as funding becomes more available and people realize that it is okay to fail…failure ultimately leads to success.
Z: Do you think China now has more entrepreneur opportunities than any other nations in the world?
B: Could be. But India and other emerging economies are right there as well.
Z: Talking about entrepreneur opportunity. Too many people focus on internet. Everyone is looking at Google and Youtube. In your opinion, which industry is particular worth attention? What is your suggestion for Chinese young people to seize opportunity?
B: As the Chinese middle class emerges (like India’s has), focus on the services that this group of people will want and need.
Z: Babson has an impressive resume in terms of collaboration with Chinese leading business schools…
B: Yes, we held the first China-US Symposium for Entrepreneurship Research and Education (CUSyERE), in collaboration with Nankai University Business School, and we signed an agreement with Tsinghua University, Beijing, China, to deliver custom Executive Education programs to global managers at multinational corporations throughout China. Our partnerships are going well and we will expand as opportunities present themselves.
Z: Mr. Barefoot, thank you very much!
B: You are very welcome.
