Dr. Paul Čejka from the Prague University of Economics and Business, an alumnus of the IBMBA program, returned to NSYSU this year as a guest lecturer for the ACT program, delivering a one-week lecture series for the Innovation & Entrepreneurship course. With more than 20 years of international industry experience, Dr. Čejka delivered lectures that focused on practical business knowledge, including priorities in a business plan, key market analysis, business model strategies, sales skills, and elevator pitch practice.

The first lecture opened with an introduction to how students should sell their business plans by identifying key priorities, such as cost, brand, performance, compatibility, or relationships. Students were then engaged in a discussion to develop a business plan that combined two different technologies or industries. Dr. Čejka emphasized the importance of using data when creating a business plan and introduced three key market analysis concepts: TAM (total addressable market), SAM (serviceable available market), and SOM (serviceable obtainable market).

The second lecture delved deeper into the business plan development process. Dr. Čejka explained that a business plan is iterative in nature, beginning with user-centered and empathetic research, followed by defining needs and value, identifying specific problems, brainstorming ideas, and creating targeted solutions before returning to the research stage. He also introduced strategic planning tools, including SWOT, VRIO, Porter’s Five Forces, and TOWS. Students practiced applying the TOWS framework by developing SMART (specific, measurable, attainable, relevant, and time-based) strategies for the products or services they selected in the previous lecture.

In the third lecture, students conducted individual elevator pitches, each given approximately twenty seconds to present their business ideas, with Professor Andersson and Dr. Čejka taking on the role of investors. For most students, this was their first experience delivering an elevator pitch, allowing them to develop essential sales and presentation skills. Dr. Čejka complimented students who performed well despite it being their first attempt and provided constructive feedback on how to improve their pitches. The lecture series concluded with personal reflections from each student on what they had learned throughout the week.

Dr. Čejka’s rich international industry experience closely aligns with the focus of the ACT program, which emphasizes doing business in regions with diverse cultural and professional backgrounds. His practical insights and hands-on teaching approach provided students with valuable exposure to real-world entrepreneurial thinking.