Military Advanced Education: “Pace to Encourage Entrepreneurship”

Military Advanced Education, the Journal of Higher Learning for Today’s Servicemember, reports on the opening of Pace’s new Entrepreneurship Lab in the April issue.

Military Advanced Education saluted Pace’s launch of an Entrepreneurship (E-Lab) which is expected to both nuture the entrepreneurial spirit on campus and serve as a beacon for innovation in the Lower Manhattan community. In addition to the site in Manhattan, the publication noted that Pace opened an Entrepreneurship Lab at the Goldstein Academic Building on its Pleasantville, NY, campus.

Military Advanced Education quoted Neil S. Braun, dean of the Lubin School of Business, on the meaning of entrepreneurship:

“Entrepreneurship, in its broadest sense, is a personal approach for developing ideas into plans and plans into reality. It is interdisciplinary ‘doing.’  Entrepreneurial leadership is as important in large companies as it is in startups; it’s a mindset toward relentless problem solving that leads to successful execution” said Braun, who in his career has assumed many different type of roles, including internet entrepreneur, television network president, corporate attorney, CEO and film producer. “It is therefore at the heart of business education; it is the ultimate capstone for applying the knowledge and skills of the discrete disciplines to a product or service for a specific market opportunity.”

Professor Bruce Bachenheimer, the E-Labs leader, discussed the importance of an entrepreneurial mindset:

“The Entrepreneurship Lab aims to foster an entrepreneurial mindset – a way of thinking and acting that focuses on developing new ways to solve problems and create value,” said Bachenheimer, who drafted the initial proposal of the E- Lab. “These skills are important not only for those seeking to establish a new venture, but are increasingly critical in a wide variety of professional careers given today’s hyper-competitive marketplace, where rapid technological innovation and globalization has led to corporate downsizing and a dramatic change in the very nature of work.”