2006 Excellence in Entrepreneurship Education Awards
United States Association for Small Business & Entrepreneurship
The Foundation Management Experience (FME)
Innovative Entrepreneurship Education Course
(Sponsored by SIFE)
Heidi M. Neck, Ph.D.
Arthur M. Blank Center for Entrepreneurship
Donna Stoddard, DBA
Technology, Operations, and Information Management Division
Babson Park, MA 02457
It makes no sense to study business management
until you understand business creation.
(Roger Babson, Founder of Babson College, 1917)
THE PURPOSE OF BABSON’S FOUNDATION MANAGEMENT EXPERIENCE
Roger Babson believed experience was the best teacher; thus, he “favored a curriculum
that was a combination of both class work and actual business training.”1 In the spirit of Roger
Babson’s vision and the entrepreneurial foundations of the college, the Foundation Management
Experience (FME) was created in 1996 to give all first year, undergraduate students an integrated
view of business management. Since this time, FME has evolved into a rite of passage
characterized as an intense, experiential immersion into the world of entrepreneurship.
The focus of FME is on opportunity recognition, resource parsimony, team development,
holistic thinking and value creation through harvest. The vehicle of learning is a limited duration
business start up steeped in entrepreneurial thinking and a basic understanding of all functions of
business. Because FME is a required course, all first year undergraduates experience the entire
cycle of entrepreneurship. The course is a blend of theory and practice, which forms the basis for
the entire Babson undergraduate core curriculum.
PRINCIPAL STUDENTS SERVED & PRIMARY OBJECTIVES
All first year, undergraduate students are required to enroll in FME where they