Entrepreneurship: expectations and reality

Online studying can be fun and practical. The combination of theory and practice is an important tool of modern education. Interesting practical cases allow the students to form their own vision of certain issues. The Production and Investment Management Department proves once again that the practical experience of implementing the acquired knowledge and covering them into successful examples of entrepreneurship and project activities is the motivation that will determine for each student what skills need to be developed to achieve their own goals.

On October 28, 2020, students and teachers talked about these issues with Sofia Terebova, an entrepreneur and owner of the March & Co bakery.

What is it like to start a business using a home kitchen?
The first step to enterprise development: who is the target audience and how to tell about your product?
To what extent does the system of business management and development coincide with the expectations of an entrepreneur?
What small steps do you need to undertake to achieve substantial scales of the business?

These and other issues were discussed during the workshop "Entrepreneurship: Expectations and Reality". Head of the Production and Investment Management Department, Doctor of Economics, Professor, Corresponding Member of the NAS of Ukraine Lydia V. Shynkaruk noted that such seminars allow students to get acquainted with the real stories of Ukrainian enterprises, their successes and challenges to develop their own business. It is a well known fact that success of some business depends on how well one can use management skills and how quickly he can react to changes in the market and in partnerships.

In her turn, Sofia emphasized the main components of a successful business: planning, teamwork, cooperation and communication with clients, flexibility in decision-making and delegation skills. Having started her business from scratch in 2010 she turned it into a full-fledged business project in 2018. So that Sofia proved that perseverance, thirst for development, determination, communication and courage are the qualities that an entrepreneur should have today.

During the seminar, students and teachers discussed what skills start-up entrepreneurs should use, what automated resources they use in activities that are essential during university studies, and what steps should be taken to implement their business ideas.

Iryna Tytarchuk,
Associate Professor of the Production
and Investment management

Translated by
Kateryna Alekseieva