Integrating Financial Literacy and Industrial Heritage: An Experiential Curriculum Approach to Cultural Sustainability and Responsible Business Education

Integrating Financial Literacy and Industrial Heritage: An Experiential Curriculum Approach to Cultural Sustainability and Responsible Business Education | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Research Article Integrating Financial Literacy and Industrial Heritage: An Experiential Curriculum Approach to Cultural Sustainability and Responsible Business Education JianYuan Chen This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-9286271/v1 This work is licensed under a CC BY 4.0 License Status: Posted Version 1 posted You are reading this latest preprint version Abstract This study serves as both a teaching experiment and teaching case, introducing an immersive and situated learning approach to experiential business education. However, business‑education literature remains largely theoretical and offers few empirically tested teaching models that combine financial literacy, industrial‑heritage learning, and experiential pedagogies, especially for students in developing‑country contexts. The curriculum integrates financial literacy, industrial heritage awareness, and extensive hands-on practice, enabling international business students to develop a solid understanding of core business and management concepts. This study draws on the Experiential Learning Cycle, Self-Regulated Learning Theory, and Situated Learning Theory. The teaching implementation included a field visit to the Malaysia National Bank Museum and an industrial heritage investigation of the Zhongshan Building. Two groups of participants participated in this experiment. Upon completion of the modules and curriculum, students were required to present their investigations of industrial heritage, propose a new business idea, or design a prototype pitch suitable for industry-related or financial products. The mixed-method assessment of student feedback and feelings indicated that mutual communication and encouragement effectively guide the process from Concrete Experience to Active Experimentation. Moreover, to implement Self-Regulated and Situated Learning theories, the author served as the main lecturer, focusing on empathy and fostering students’ self-motivation and emotional engagement. Participants’ positive feedback was also evident in the final data and analysis. Finally, we propose a teaching model and instructional framework for business and financial education in developing countries. The author also welcomes educators to refer to this program, share this module and syllabus as an opening resource, contributing to global pedagogy research. Financial Literacy Industrial Heritage Business Education Experiential Learning Cycle Teaching Case Figures Figure 1 Figure 2 Figure 3 Figure 4 1. INTRODUCTION With the contemporary higher-education context, postgraduate business teaching programs in universities and research institutions often prioritize theoretical frameworks and academic structures. This approach often overlooks practical and applied learning (Elabbar, A.A., 2019; Scott L.M., 2016). In this regard, after graduating, students often lack the practical skills to meet job requirements, struggle to adapt to a hands-on environment, and face a gap between academic knowledge and practical application (Newton et al., 2020 ; Jia, 2025 ). Another issue is an imbalance in educational resources across countries, including unequal access to social-practice opportunities, educational competencies, and teaching resources. This imbalance can undermine the effectiveness of high-quality business education and limit students’ exposure to practical applications (Chiu and Khoo, 2005 ). In addition, based on the author’s extensive teaching experience and empirical observations, it is evident that many students lack basic financial literacy. This knowledge gap prevented them from effectively applying what they learned in their undergraduate and postgraduate studies to real-world situations. Additionally, these students often lack the necessary skills and confidence to present their work and projects. These challenges highlight the persistent issues affecting both undergraduate and postgraduate students (Mekonnen, 2025 ; (Charlton and Avramides, 2016 ). Therefore, instilling and teaching students’ financial literacy, fundamental economic knowledge, common sense, practice investigation, presentation, and critical thinking skills remains essential. It is essential to recognize that a certain part of the population in developing countries, including students, lacks access to financial education. Therefore, it is necessary to guarantee the teaching quality, especially in the domain as development of positive attitudes toward knowledge, cultivate students’ disciplined budgeting habits and awareness of anti-telecom scams, and develop a comprehensive financial literacy competency (Kasim et al., 2024 ; Menberu, 2024 ; Meirovich, G. et al., 2006), For further explanation, the authors mentioned three core pedagogical theories in this study: Experiential Learning Cycle, Self-Regulated Learning, and Situated Learning theories. The author believes that the three theories share common features, including emphasis on students’ real hands-on experiences, emotional resonance, and empathy. These theories can help cultivate students’ motivation and participation, and provide case-based learning and practical experience suited to real-world situations (Abdulwahed and Nagy, 2009 ) (Schuster et al., 2020 ). In this regard, this module adopts a mixed-methods teaching approach that aligns educational theory with practical experience through field visits and investigations. The students visited the National Bank Museum of Malaysia. Additionally, students had the opportunity to explore the Zhongshan Building. During their observations and assessments, they examined the evolution and transition of this building from an urban village and Chinese Commercial Commerce to its current status as a creative industrial hub and modern cafeteria. Furthermore, studies emphasize theoretical analysis and lack practical teaching cases or classroom‑based reflections. Farrell ( 2015 ) presented a case study that explored and reflected on the relationship between the teachers’ stated beliefs and observed classroom practices of one second-language reading teacher, and O’Donoghue ( 1996 ) investigated how reflective practice is encouraged and actually enacted in a teacher education program in Australia. It examines the differences between what teacher educators say about the importance of reflection (rhetoric) and what student teachers do in practical teaching settings (reality). The author therefore designed this innovative “Integrating Financial Literacy and Industrial Heritage Case Study” program and provided the syllabus, itinerary, student feedback, outcome data, interviews, and so on. Finally, we found that the program significantly enhanced students’ competencies across multiple dimensions. The financial literacy component, along with the Prototype Pitch and IPO presentation activities, effectively strengthened students’ understanding of financial planning, business knowledge, and economics. Industrial heritage education and hands-on field investigations improved students’ motivation and practical skills. Moreover, several students showed substantial improvements in mutual communication and collaborative interaction. The results of this study support the application of the Experiential Learning Cycle, Self-Regulated Learning, and Situated Learning theories, which are highly effective and beneficial to business students. The author also welcomes educators to refer to this program and share the module and syllabus as an opening resource. This can help tutors tackle imbalances and unequal educational resources across countries. In addition, if the implementation can achieve the Sustainable Development Goals (SDGs) and contribute to global pedagogy research, it could be a great honor for the author. 2. PEDAGOGICAL FRAMEWORK AND RESEARCH METHODS As mentioned in Chap. 1, this program is rooted in three theories: Experiential Learning Cycle, Self-Regulated Learning, and Situated Learning. Kolb’s Experiential Learning Cycle emphasizes that learning is a process rooted in students’ experiences instead of only the transmission of information. This theory directly supports practice‑based and real‑situation learning. Generally, the educators in pedagogical practice should cement key points through a field trip or role-play, and then organize personal or group reflections on the experience (Kolb, 2014 ; Kolb and Kolb, 2018 ). Self-regulated learning encourages students to take control of their learning journey. The strong point encompasses the Cycle of Self-Regulated Learning and Active Thinking about Learning Strategies and has been shown to positively influence students’ mental well-being, allowing them to feel more in control of their performance and experience less stress, especially during exams. (Kurt, S. 2023 ) Additionally, the study examines the role of SRL in helping students develop more sophisticated mental models for further learning and complex science topics. By integrating progressive levels with active learning, critical thinking, backward design, and a flipped classroom approach grounded in Bloom’s taxonomy, participation and recognition can be achieved. (Azevedo et al., 2004 ; Mulcare, and Shwedel, 2017 ). The last teaching methodology that the authors adopted and tested in this program is situated learning theory. First described by Lave and Etienne Wenger in 1991 (1991), the theory argues that learning is inherently a social experience rather than something that occurs solely within the individual. The authors emphasize that when learning is seen as a situated activity, its key defining feature is legitimate peripheral participation. Following its evolution and the development of other scholars, the theory encompasses field trips that allow students to actively engage in different environments, as well as cooperative education and internship experiences that immerse them in a physical work environment (Cheng and Tsai, 2019 ; Acut, 2024 ). These foundational educational theories support the design of a three-phase teaching model that cultivates both cognitive development and practical business skills in secondary school students. Furthermore, in Jane Schuchardt’s article on the field of financial education (Schuchardt et al., 2009 ). 29 scholars from public and private universities, non-profit organizations, and the federal government participated in a National Research Symposium on Financial Literacy and Education in October 2008 in Washington, DC. This study aims to identify critical research questions that could inform outcome-based financial education, relevant public policy, and effective practices leading to personal and family financial literacy. Financial literacy education is therefore crucial. Figure 1 shows the basic Theoretical Framework and Methodology of this article designed by the author: 3. TEACHING AND LEARNING ENVIRONMENT This teaching plan and experiential business education employ integrated teaching content that encompasses basic and advanced Financial Literacy cultivation, course instruction, social practice, visits to national banks and industrial heritage sites, and student presentations. The teaching target and objective is to use the author-designed “Integrating Financial Literacy and Industrial Heritage Case Study” and Immersive and Situated learning program to combine basic financial knowledge teaching, a Malaysia National Bank Museum visit, and Industrial Heritage investigation. This approach provides business students with an immersive opportunity to apply their learning in real-world contexts and engage with society. According to innovative curricula and experiential business education sessions, participants should be equipped with the essential skills as, Understanding the fundamental concept of monetary policy, the central bank’s role, the operational logic of financial instruments, and REITs; Ability to analyze the business model and optimize its structure and portfolio for enhanced performance; Conceptual understanding of industrial heritage and gain an immersive experience through site visits with opportunities for on-site investigation and exploration. 4. IMPLEMENTATION REPORT The arrangement and itinerary presented in Tables 1 , 2 , 3 , and 4 outline this practical teaching journey, which unfolds step-by-step, to provide a hands-on learning experience. This chapter presents the teaching module and key points, highlights student output, and explores the theoretical foundations of the research topic and related components. 4.1 Basic Financial Literacy This section focuses on a visit to the National Bank Museum. The museum is organized into several modules, including the founding of Malaysia’s central bank, Islamic finance, currency production and display, and foreign currency exhibitions. After establishing the setting, we designed a module focusing on basic financial literacy knowledge and key points. These include monetary policy, currency issuance, the Islamic financial system, and exchange rates. 4.2 REITs and the application REITs play a vital role in the current financial market and in instrument usage. Therefore, helping students acquire more insight and hands-on skills is significant. Accordingly, we included an additional financial literacy section to build a foundational understanding of REITs. REITs allow investors to pursue stable, consistent revenue and steady cash flow. Moreover, REITs provide traders with exposure to high-quality, large-scale commercial properties without the need to purchase them outright. Additionally, REITs provide reliable income streams and attractive dividend yields. Table 5 below is the sample which display students the real REITs Products in the Market. Table 5 Part of the REITs Products in the Market Name Business Format Core Component Assets Pavilion REITs Commerce and Office Layout Pavilion Kuala Lumpur Mall and Elite Pavilion Mall; Pavilion Bukit Jalil; Pavilion Tower Knowledge Realty Trust Office Portfolio Knowledge City & Knowledge Park in Hyderabad; One BKC, One International Center, One World Center in Mumbai Shandong Hi-Speed Group REITs Infrastructure (High Speed Way) G0321 Juan-He High Speed fee-collection right Source: 2024 Report of Shandong Hi-Speed Group REITs, 2024 Report of Pavilion REITs, and Knowledge Realty Trust This module aims to present students with real-world products. For instance, Pavilion REITs, which include the Pavilion Kuala Lumpur Mall and Pavilion Bukit Jalil, are also listed in their trip itineraries. This opportunity and experience allow students to observe how REITs operate, assess key assets, evaluate their operations, and estimate portfolio quality. 4.3 National Bank Museum Visiting The destination was the Bank Negara Malaysia Museum and Art Gallery, also known as the National Bank Museum of Malaysia. This museum represents the foundation and development roadmap of the Central Bank of Malaysia. Visitors have the chance to explore and witness the Malaysian economic trajectory, experience fintech facilities, etc. In addition, the numismatic hall shows how coins and notes were produced (Bank Negara Malaysia Museum & Art Gallery, 2025). Figure 2 shows the pictures captured during this visiting and teaching module. Furthermore, the qualitative feedback provided by the professor leading the Indian group mentioned the following: We know it’s a unique opportunity for this visit. We can see the museum near the World Bank Malaysia Office, the South East Asian Central Banks (SEACEN) Research and Training Centre, and the Islamic Financial Services Board. Normally, it’s not easily accessible to ordinary people. We appreciate your efforts to cultivate students’ ability to think from a policymaker’s perspective and to develop high-level insights. 4.4 Industrial Heritage Teaching Part Industrial heritage refers to historical buildings, machinery, and workshops. Since the transition of their functions, the tangible and intangible legacies have retained their value and meaning. (Loures, L., 2008 ). A shift in both function and position is typically linked to environmentalists and tourism professionals. It primarily aims to revitalize these locations and repurpose abandoned factories and sites (Ćopić et al., 2014 ). Related teaching content and case studies of this module include several important examples. Examples include the successful transformation of the German Ruhr Area and the transition and revitalization of Shougang Park (Beijing Capital Steel Park). Nonetheless, the failure sample, which included the inadequate maintenance of the Esplanade Mansions and the Railway Saloon Shed in India, was also added to the teaching content. The significance here is that these cases illustrate how a nation can acknowledge the value of industrial heritage and invest resources, energy, and expertise to successfully transform industrial sites. The success of the Beijing Capital Steel Park is closely linked to the Chinese government’s economic restructuring goals and pollution protection concerns. By shifting its product line and manufacturing sectors to Hebei Province in 2005 and by renewing and revitalizing its facilities and equipment to welcome the Beijing 2022 Winter Olympics, it is expected to reflect the Chinese government’s energy and industrial strategy, especially the key concern in Industrial Heritage transformation. Shougang Park is currently the sole transformation site; however, it has already become an experimental hub for Apollo Go's autonomous driving. Comprehensive revitalization and shifts have already made this park more attractive, vibrant, and international (People’s Daily Online, 2024 ; Beijing Government, 2023). Students were encouraged to apply the knowledge gained in class on industrial heritage transformation to conduct field investigations and gain a comprehensive understanding of the entire transformation process. In addition, the author presents several cases of unsuccessful transformations to illustrate how a lack of awareness of industrial heritage values and failure to address site vacancies have hindered redevelopment efforts in certain countries. 4.5 Industrial Heritage Investigation The Zhongshan building in Kampung Attap, built in the 1950s was selected as the case study. It was a family butchery that included a living hostel. Over the years, it served as a community hub for the Selangor Zhongshan Association and small businesses and later became a hostel for foreign workers in the early 2000s. After reclaiming the building and receiving a grant from some artists with the idea of creating a center for creativity (Chin, 2022 ). Based on the feedback discussed in Chap. 6, while students had opportunities to practice investigation skills, many Indian participants viewed and witnessed industrial heritage in a broader sense than the conventional definitions. Moreover, the students showed a clear interest in visiting real factories, companies, and production lines, expressing a desire to observe industrial operations directly and gain practical insights into manufacturing and innovation in their local contexts. Figure 3 has recorded their investigation and the on-site scene. This figure is based on real-world evidence and provides high practical reference value for trainers. 4.6 Prototype Pitch & Student Presentation The final day was dedicated to student presentations. The selected topic and prototype pitch were intentionally flexible to encourage creativity and enhance communication skills through hands-on practice. We encouraged Group 1 to establish a new startup, develop a new product, and present their operational system, ultimately aiming for an initial public offering (IPO) in Nasdaq.(Fig. 4 ) This is closely linked to their financial knowledge and the function of the financial instruments they have learned. The prototype and product design included an innovative blockchain exchange platform. Another group designed a customizable café to instill an environmental ethos in environmentally friendly disposable cups. Each of these ideas reflects a commitment to creativity and modernization in various industries. Group 2 students were more focused on maximizing their companies’ profits and portfolios. With superior creativity, they mentioned equity swaps and auctions, and exhibited excellent negotiation skills. It is evident that during the industrial heritage investigation, they gained practical communication, nomination, and hands-on skills. 5. RESULTS AND DISCUSSION The implementation of this teaching plan was carried out by two Indian study tour groups. Since both groups of Indian students majored in business and administration, the authors also served as the principal lecturers, conducting the sessions and recording their reactions, feedback, and other reflections. Questionnaires were distributed to measure Self-Motivation, Financial Planning, Business and Economic Literacy, and Practical Skills. Based on the collected data and analysis, we aimed to identify the factors that played the most significant roles in class outcomes and achievements. Additionally, we evaluated the implementation of the Experiential Learning Cycle, Self-Regulated Learning, and Situated Learning theories. 5.1 Group 1 Feedback and Data Analysis Table 6 , Table 7 , Table 8 are part of the Descriptive Analysis of the Group 1 students. It mainly demonstrate their age, location and attitude towards the curriculum. Table 6 Data on Group 1 Students’ ages 20 Years old 22 68.75% 68.75% Total 32 100% 100% Table 7 Data on Group 1 Students’ Location Uttar Pradesh Students number Percent Valid Percent 15 46.87% 46.87% Maharashtra 10 31.25% 31.25% Rajasthan 3 9.37% 9.68% National Capital Territory 2 6.25% 6.45% Tamil Nadu 2 6.25% 3.23% Total 32 100% 100% Table 8 Domains of Group 1 Student Growth Reflected in Feedback Self-Motivation Students number Percent Valid Percent 19 59.37% 59.37% Financial Planning 27 84.37% 84.37% Business and Economic Literacy 30 93.75% 93.75% Practical Skill 9 28.12% 28.12% Among the students, 93.75% and 84.37% reported progress and positive feelings toward financial planning, business, and economic literacy, respectively. Furthermore, to better understand students’ feelings and attitudes towards the modules and program, the authors conducted interviews with the participating students to gather qualitative feedback. Student A : I learned about a confident attitude and critical thinking during this module program. The professor taught us that we can do anything, and we should be more confident. Student B : I know it is a precious opportunity to visit the bank museum, usually the tour guide or teachers will not bring us business students to such a practical and hands-on place. Student C : It was a great opportunity to interact and mutually communicate with you. In the summary analysis of Group 1, based on students’ feedback and comments, it can be observed that 93.75% and 84.37% of participants benefited from the modules on business and economic literacy and financial planning, respectively. Nevertheless, both the quantitative and qualitative data indicate that students consistently emphasized the importance of feeling supported and actively involved in prototype design activities, such as simulating an IPO on the NASDAQ. These experiences contributed to enhanced confidence and self-motivation, which in turn supported their progress and enabled them to make notable advancements in venture development. 5.2 Group 2 Feedback and Data Analysis Table 9 , Table 10 , Table 11 are part of the Descriptive Analysis of the Group 2 students. It mainly demonstrates their age, location and attitude towards the curriculum and course arrangement. Table 9 Data on Group 2 Students’ ages 20 Years old 16 84.21% 84.21% Total 19 100% 100% Table 10 Data on Group 2 Students’ Location Maharashtra Students number Percent Valid Percent 4 21.10% 21.10% Uttar Pradesh 3 15.78% 15.78% Kerala 3 15.78% 15.78% National Capital Kerala 3 15.78% 15.78% Rajasthan 1 5.26% 5.26% Uttarakhand 1 5.26% 5.26% Odisha 1 5.26% 5.26% Madhya Pradesh 1 5.26% 5.26% Haryana 1 5.26% 5.26% Bihar 1 5.26% 5.26% Total 19 100% 100% Table 11 Domains of Group 2 Student Growth Reflected in Feedback Self-Motivation Students number Percent Valid Percent 15 78.94% 78.94% Mutual Communication 16 84.21% 84.21% Financial Planning 7 36.84% 36.84% Business and Economic Literacy 11 57.89% 57.89% Practical Skill 10 52.63% 52.63% English Level 11 57.89% 57.89% Among the participants in Group 2, 78.94% and 84.21% claimed that this module helped them make progress and experience positive feelings, particularly in self-motivation, confidence, and mutual communication. However, data from a single group does not provide comprehensive results; therefore, we conducted supplementary interviews to gather further insight. Student A : The Global Immersion Program makes me know more about the real-world perspectives, and the engaging teaching way is enjoyable. I felt the positive energy you shared with us. Student B : I’m studying for an MBA in India, and our program lasts for two years. This program includes case studies and visits to the bank museum, where we can learn about the principles of central bank operations. Student C : Generally, in India, university courses often involve lecturers teaching on stage with little interaction and communication, but when we took the program here, we felt the engagement and encouragement. In this part of the conclusion, it was observed that the students in Group 2 exhibited significant improvement in their self-motivation, confidence, and communication skills. This improvement may be attributed to their engagement in field investigations and to discussions with the lecturer on addressing business problems in a relaxed atmosphere, as well as to their experience with the negotiation process during the final presentation. We believe that these elements will enhance students’ self-motivation and confidence. Furthermore, their awareness and proficiency in cosmopolitan English, along with their overall learning experience, demonstrated noticeable progress. 6. CONCLUSION AND PRACTICAL IMPLICATIONS Consequently, the Integrating Financial Literacy and Industrial Heritage Case Study, which aligns with the Immersive and Situated Learning Approach, has increased students’ competency, engagement and motivation. The financial literacy component, together with the prototype pitch and IPO presentation activities, strengthened students’ understanding of financial planning, business knowledge, and economic literacy to varying extents. Simultaneously, the industrial heritage education and hands-on field significantly improved students’ self-motivation and practical skills. In the pedagogical theory application and refinement section, this article draws on multiple teaching cases to illustrate how the transition from Concrete Experience (CE) to Active Experimentation (AE) can be achieved through field investigations, role-playing in business negotiations, and other simulation-based instructional approaches. Furthermore, in line with Self-Regulated Learning Theory and Situated Learning Theory, the lecturer’s encouragement and use of role-playing activities in business contexts not only provide authentic and situated learning environments but also enhance students’ self-motivation and emotional engagement. This helps explain why the “self-motivation” cluster remains consistently high across both observation groups. Overall, this study provides a replicable teaching model with a teaching plan and notes that can be applied in various developing countries, highlighting the value of integrating real-world experiences into business and financial education. Declarations Research Funding This research received no external funding. AI Acknowledgment The authors acknowledge the use of ChatGPT and Grammarly to assist in matching business education subjects and references, refining language, checking grammar, and enhancing the clarity and structure of specific tables and paragraphs. Although the authors acknowledge the use of AI, they maintain that they are the sole authors of this article and take full responsibility for its content, as outlined in the COPE recommendations. Informed Consent This study was conducted with informed consent from all participants. Participants were informed of the study’s research purpose, procedures, potential risks and benefits, and their right to withdraw at any time without penalty. Written consent was obtained from all participants. The images, logos, and posters were authorized by the author, who retained copyright and publication rights. Participants’ portraits and information were anonymous. Conflict of Interest The authors declare that there is no conflict of interest. Consent for Publication The author consents to the publication and grants authorization for all images and figures included in this article. The authors declare that this article has not been previously published. ACKNOWLEDGMENTS I would like to express my heartfelt gratitude to all members of the UCSI Consulting Group and UCSI Graduate Business School (GBS), especially Ms. Kimberley, Mr. Kok Hao Ran, Dr. Alan Keoy Kay Hooi, and Dr. Eva Lim Wei Lee. The staff at the UCSI Consulting Group and GBS provided invaluable support in implementing this teaching program and coordinating industrial visits. Only with the support and arrangements of our GBS Dean, Dr. Alan Keoy Kay Hooi, Deputy Dean, Dr. Eva Lim Wei Lee, and UCG colleagues was I able to implement the course design and conduct the teaching experiments. Additionally, students from different Indian business schools play a crucial role in coordinating and enrolling in courses. This collaboration enabled me to implement the Integrating Financial Literacy and Industrial Heritage Case Study Teaching Plan. Their diverse talent, innovative business ideas, and warm and sincere expressions inspired me continuously. References Abdulwahed M, Nagy ZK (2009) Applying Kolb’s Experiential Learning Cycle for Laboratory Education. 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Cogent Bus Manage 11(1) Article 2294879. https://doi.org/10.1080/23311975.2023.2294879 Mulcare DM, Shwedel A (2017) Transforming Bloom’s Taxonomy into Classroom Practice: A Practical yet Comprehensive Approach to Promote Critical Reading and Student Participation. J Political Sci Educ 13(2):121–137. https://doi.org/10.1080/15512169.2016.1211017 Newton PM, Da Silva A, Berry S (2020) The Case for Pragmatic Evidence-Based Higher Education: A Useful Way Forward? Front Educ Vol 5:583157. https://doi.org/10.3389/feduc.2020.583157 O’Donoghue TA, Brooker R (1996) The Rhetoric and the Reality of the Promotion of Reflection during Practice Teaching: An Australian Case Study. J Teacher Educ 47(2):99–109. https://doi.org/10.1177/0022487196047002003 Schuchardt J, Hanna SD, Hira TK, Lyons A, Palmer L, Xiao JJ (2009) Financial Literacy and Education Research Priorities. J Financial Couns Plann 20(1):84–95. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2225370 Schuster C, Stebner F, Leutner D, Wirth J (2020) Transfer of Metacognitive Skills in Self-Regulated Learning: An Experimental Training Study. Metacognition Learn 15(3):455–477. https://doi.org/10.1007/s11409-020-09237-5 Scott LM (2016) Theory and Research in Construction Education: The Case for Pragmatism. Constr Manage Econ Vol 34:7–8. https://doi.org/10.1080/01446193.2016.1151539 Shougang Group (2025) Pioneering Urban Renewal in Traditional Industrial Areas and Creating a New Landmark for Capital City Revitalization in the New Era, Shougang Group website, 4 May, available at: https://www.shougang.com.cn/en/p1/ShougangNews/20250504/133.html (accessed 18 February 2026) Table 1 To 4 Table 1 To 4 are available in the Supplementary Files section. Additional Declarations No competing interests reported. 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INTRODUCTION","content":"\u003cp\u003eWith the contemporary higher-education context, postgraduate business teaching programs in universities and research institutions often prioritize theoretical frameworks and academic structures. This approach often overlooks practical and applied learning (Elabbar, A.A., 2019; Scott L.M., 2016). In this regard, after graduating, students often lack the practical skills to meet job requirements, struggle to adapt to a hands-on environment, and face a gap between academic knowledge and practical application (Newton et al., \u003cspan citationid=\"CR25\" class=\"CitationRef\"\u003e2020\u003c/span\u003e; Jia, \u003cspan citationid=\"CR14\" class=\"CitationRef\"\u003e2025\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eAnother issue is an imbalance in educational resources across countries, including unequal access to social-practice opportunities, educational competencies, and teaching resources. This imbalance can undermine the effectiveness of high-quality business education and limit students\u0026rsquo; exposure to practical applications (Chiu and Khoo, \u003cspan citationid=\"CR9\" class=\"CitationRef\"\u003e2005\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eIn addition, based on the author\u0026rsquo;s extensive teaching experience and empirical observations, it is evident that many students lack basic financial literacy. This knowledge gap prevented them from effectively applying what they learned in their undergraduate and postgraduate studies to real-world situations. Additionally, these students often lack the necessary skills and confidence to present their work and projects. These challenges highlight the persistent issues affecting both undergraduate and postgraduate students (Mekonnen, \u003cspan citationid=\"CR22\" class=\"CitationRef\"\u003e2025\u003c/span\u003e; (Charlton and Avramides, \u003cspan citationid=\"CR6\" class=\"CitationRef\"\u003e2016\u003c/span\u003e). Therefore, instilling and teaching students\u0026rsquo; financial literacy, fundamental economic knowledge, common sense, practice investigation, presentation, and critical thinking skills remains essential.\u003c/p\u003e \u003cp\u003eIt is essential to recognize that a certain part of the population in developing countries, including students, lacks access to financial education. Therefore, it is necessary to guarantee the teaching quality, especially in the domain as development of positive attitudes toward knowledge, cultivate students\u0026rsquo; disciplined budgeting habits and awareness of anti-telecom scams, and develop a comprehensive financial literacy competency (Kasim et al., \u003cspan citationid=\"CR15\" class=\"CitationRef\"\u003e2024\u003c/span\u003e; Menberu, \u003cspan citationid=\"CR23\" class=\"CitationRef\"\u003e2024\u003c/span\u003e; Meirovich, G. et al., 2006),\u003c/p\u003e \u003cp\u003eFor further explanation, the authors mentioned three core pedagogical theories in this study: Experiential Learning Cycle, Self-Regulated Learning, and Situated Learning theories. The author believes that the three theories share common features, including emphasis on students\u0026rsquo; real hands-on experiences, emotional resonance, and empathy. These theories can help cultivate students\u0026rsquo; motivation and participation, and provide case-based learning and practical experience suited to real-world situations (Abdulwahed and Nagy, \u003cspan citationid=\"CR1\" class=\"CitationRef\"\u003e2009\u003c/span\u003e) (Schuster et al., \u003cspan citationid=\"CR28\" class=\"CitationRef\"\u003e2020\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eIn this regard, this module adopts a mixed-methods teaching approach that aligns educational theory with practical experience through field visits and investigations. The students visited the National Bank Museum of Malaysia. Additionally, students had the opportunity to explore the Zhongshan Building. During their observations and assessments, they examined the evolution and transition of this building from an urban village and Chinese Commercial Commerce to its current status as a creative industrial hub and modern cafeteria.\u003c/p\u003e \u003cp\u003eFurthermore, studies emphasize theoretical analysis and lack practical teaching cases or classroom‑based reflections. Farrell (\u003cspan citationid=\"CR12\" class=\"CitationRef\"\u003e2015\u003c/span\u003e) presented a case study that explored and reflected on the relationship between the teachers\u0026rsquo; stated beliefs and observed classroom practices of one second-language reading teacher, and O\u0026rsquo;Donoghue (\u003cspan citationid=\"CR26\" class=\"CitationRef\"\u003e1996\u003c/span\u003e) investigated how reflective practice is encouraged and actually enacted in a teacher education program in Australia. It examines the differences between what teacher educators say about the importance of reflection (rhetoric) and what student teachers do in practical teaching settings (reality).\u003c/p\u003e \u003cp\u003eThe author therefore designed this innovative \u0026ldquo;Integrating Financial Literacy and Industrial Heritage Case Study\u0026rdquo; program and provided the syllabus, itinerary, student feedback, outcome data, interviews, and so on.\u003c/p\u003e \u003cp\u003eFinally, we found that the program significantly enhanced students\u0026rsquo; competencies across multiple dimensions. The financial literacy component, along with the Prototype Pitch and IPO presentation activities, effectively strengthened students\u0026rsquo; understanding of financial planning, business knowledge, and economics. Industrial heritage education and hands-on field investigations improved students\u0026rsquo; motivation and practical skills. Moreover, several students showed substantial improvements in mutual communication and collaborative interaction. The results of this study support the application of the Experiential Learning Cycle, Self-Regulated Learning, and Situated Learning theories, which are highly effective and beneficial to business students.\u003c/p\u003e \u003cp\u003eThe author also welcomes educators to refer to this program and share the module and syllabus as an opening resource. This can help tutors tackle imbalances and unequal educational resources across countries. In addition, if the implementation can achieve the Sustainable Development Goals (SDGs) and contribute to global pedagogy research, it could be a great honor for the author.\u003c/p\u003e"},{"header":"2. PEDAGOGICAL FRAMEWORK AND RESEARCH METHODS","content":"\u003cp\u003eAs mentioned in Chap.\u0026nbsp;1, this program is rooted in three theories: Experiential Learning Cycle, Self-Regulated Learning, and Situated Learning.\u003c/p\u003e \u003cp\u003eKolb\u0026rsquo;s Experiential Learning Cycle emphasizes that learning is a process rooted in students\u0026rsquo; experiences instead of only the transmission of information. This theory directly supports practice‑based and real‑situation learning. Generally, the educators in pedagogical practice should cement key points through a field trip or role-play, and then organize personal or group reflections on the experience (Kolb, \u003cspan citationid=\"CR17\" class=\"CitationRef\"\u003e2014\u003c/span\u003e; Kolb and Kolb, \u003cspan citationid=\"CR16\" class=\"CitationRef\"\u003e2018\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eSelf-regulated learning encourages students to take control of their learning journey. The strong point encompasses the Cycle of Self-Regulated Learning and Active Thinking about Learning Strategies and has been shown to positively influence students\u0026rsquo; mental well-being, allowing them to feel more in control of their performance and experience less stress, especially during exams. (Kurt, S. \u003cspan citationid=\"CR18\" class=\"CitationRef\"\u003e2023\u003c/span\u003e) Additionally, the study examines the role of SRL in helping students develop more sophisticated mental models for further learning and complex science topics. By integrating progressive levels with active learning, critical thinking, backward design, and a flipped classroom approach grounded in Bloom\u0026rsquo;s taxonomy, participation and recognition can be achieved. (Azevedo et al., \u003cspan citationid=\"CR3\" class=\"CitationRef\"\u003e2004\u003c/span\u003e; Mulcare, and Shwedel, \u003cspan citationid=\"CR24\" class=\"CitationRef\"\u003e2017\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eThe last teaching methodology that the authors adopted and tested in this program is situated learning theory. First described by Lave and Etienne Wenger in 1991 (1991), the theory argues that learning is inherently a social experience rather than something that occurs solely within the individual. The authors emphasize that when learning is seen as a situated activity, its key defining feature is legitimate peripheral participation. Following its evolution and the development of other scholars, the theory encompasses field trips that allow students to actively engage in different environments, as well as cooperative education and internship experiences that immerse them in a physical work environment (Cheng and Tsai, \u003cspan citationid=\"CR7\" class=\"CitationRef\"\u003e2019\u003c/span\u003e; Acut, \u003cspan citationid=\"CR2\" class=\"CitationRef\"\u003e2024\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eThese foundational educational theories support the design of a three-phase teaching model that cultivates both cognitive development and practical business skills in secondary school students. Furthermore, in Jane Schuchardt\u0026rsquo;s article on the field of financial education (Schuchardt et al., \u003cspan citationid=\"CR27\" class=\"CitationRef\"\u003e2009\u003c/span\u003e). 29 scholars from public and private universities, non-profit organizations, and the federal government participated in a National Research Symposium on Financial Literacy and Education in October 2008 in Washington, DC. This study aims to identify critical research questions that could inform outcome-based financial education, relevant public policy, and effective practices leading to personal and family financial literacy. Financial literacy education is therefore crucial. Figure\u0026nbsp;\u003cspan refid=\"Fig1\" class=\"InternalRef\"\u003e1\u003c/span\u003e shows the basic Theoretical Framework and Methodology of this article designed by the author:\u003c/p\u003e \u003cp\u003e \u003c/p\u003e"},{"header":"3. TEACHING AND LEARNING ENVIRONMENT","content":"\u003cp\u003eThis teaching plan and experiential business education employ integrated teaching content that encompasses basic and advanced Financial Literacy cultivation, course instruction, social practice, visits to national banks and industrial heritage sites, and student presentations.\u003c/p\u003e\n\u003cp\u003eThe teaching target and objective is to use the author-designed “Integrating Financial Literacy and Industrial Heritage Case Study” and Immersive and Situated learning program to combine basic financial knowledge teaching, a Malaysia National Bank Museum visit, and Industrial Heritage investigation. This approach provides business students with an immersive opportunity to apply their learning in real-world contexts and engage with society.\u003c/p\u003e\n\u003cp\u003eAccording to innovative curricula and experiential business education sessions, participants should be equipped with the essential skills as, Understanding the fundamental concept of monetary policy, the central bank’s role, the operational logic of financial instruments, and REITs; Ability to analyze the business model and optimize its structure and portfolio for enhanced performance; Conceptual understanding of industrial heritage and gain an immersive experience through site visits with opportunities for on-site investigation and exploration.\u003c/p\u003e"},{"header":"4. IMPLEMENTATION REPORT","content":"\u003cp\u003eThe arrangement and itinerary presented in Tables\u0026nbsp;\u003cspan refid=\"Tab1\" class=\"InternalRef\"\u003e1\u003c/span\u003e, \u003cspan refid=\"Tab2\" class=\"InternalRef\"\u003e2\u003c/span\u003e, \u003cspan refid=\"Tab3\" class=\"InternalRef\"\u003e3\u003c/span\u003e, and \u003cspan refid=\"Tab4\" class=\"InternalRef\"\u003e4\u003c/span\u003e outline this practical teaching journey, which unfolds step-by-step, to provide a hands-on learning experience. This chapter presents the teaching module and key points, highlights student output, and explores the theoretical foundations of the research topic and related components.\u003c/p\u003e \u003cdiv id=\"Sec5\" class=\"Section2\"\u003e \u003ch2\u003e4.1 Basic Financial Literacy\u003c/h2\u003e \u003cp\u003eThis section focuses on a visit to the National Bank Museum. The museum is organized into several modules, including the founding of Malaysia\u0026rsquo;s central bank, Islamic finance, currency production and display, and foreign currency exhibitions. After establishing the setting, we designed a module focusing on basic financial literacy knowledge and key points. These include monetary policy, currency issuance, the Islamic financial system, and exchange rates.\u003c/p\u003e \u003c/div\u003e \u003cdiv id=\"Sec6\" class=\"Section2\"\u003e \u003ch2\u003e4.2 REITs and the application\u003c/h2\u003e \u003cp\u003eREITs play a vital role in the current financial market and in instrument usage. Therefore, helping students acquire more insight and hands-on skills is significant. Accordingly, we included an additional financial literacy section to build a foundational understanding of REITs.\u003c/p\u003e \u003cp\u003eREITs allow investors to pursue stable, consistent revenue and steady cash flow. Moreover, REITs provide traders with exposure to high-quality, large-scale commercial properties without the need to purchase them outright. Additionally, REITs provide reliable income streams and attractive dividend yields. Table\u0026nbsp;\u003cspan refid=\"Tab5\" class=\"InternalRef\"\u003e5\u003c/span\u003e below is the sample which display students the real REITs Products in the Market.\u003c/p\u003e \u003cp\u003e \u003cdiv class=\"gridtable\"\u003e\u003ctable float=\"Yes\" id=\"Tab5\" border=\"1\"\u003e \u003ccaption language=\"En\"\u003e \u003cdiv class=\"CaptionNumber\"\u003eTable 5\u003c/div\u003e \u003cdiv class=\"CaptionContent\"\u003e \u003cp\u003ePart of the REITs Products in the Market\u003c/p\u003e \u003c/div\u003e \u003c/caption\u003e \u003ccolgroup cols=\"3\"\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c1\" colnum=\"1\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c2\" colnum=\"2\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c3\" colnum=\"3\"\u003e\u003c/div\u003e \u003cthead\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c1\"\u003e \u003cp\u003eName\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003eBusiness Format\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003eCore Component Assets\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003c/thead\u003e \u003ctbody\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003ePavilion REITs\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eCommerce and Office Layout\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003ePavilion Kuala Lumpur Mall and Elite Pavilion Mall; Pavilion Bukit Jalil; Pavilion Tower\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eKnowledge Realty Trust\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eOffice Portfolio\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003eKnowledge City \u0026amp; Knowledge Park in Hyderabad; One BKC, One International Center, One World Center in Mumbai\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eShandong Hi-Speed Group REITs\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eInfrastructure (High Speed Way)\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003eG0321 Juan-He High Speed fee-collection right\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003c/tbody\u003e \u003c/colgroup\u003e \u003ctfoot\u003e \u003ctr\u003e\u003ctd colspan=\"3\"\u003eSource: 2024 Report of Shandong Hi-Speed Group REITs, 2024 Report of Pavilion REITs, and Knowledge Realty Trust\u003c/td\u003e\u003c/tr\u003e \u003c/tfoot\u003e \u003c/table\u003e\u003c/div\u003e \u003c/p\u003e \u003cp\u003eThis module aims to present students with real-world products. For instance, Pavilion REITs, which include the Pavilion Kuala Lumpur Mall and Pavilion Bukit Jalil, are also listed in their trip itineraries. This opportunity and experience allow students to observe how REITs operate, assess key assets, evaluate their operations, and estimate portfolio quality.\u003c/p\u003e \u003c/div\u003e \u003cdiv id=\"Sec7\" class=\"Section2\"\u003e \u003ch2\u003e4.3 National Bank Museum Visiting\u003c/h2\u003e \u003cp\u003eThe destination was the Bank Negara Malaysia Museum and Art Gallery, also known as the National Bank Museum of Malaysia. This museum represents the foundation and development roadmap of the Central Bank of Malaysia. Visitors have the chance to explore and witness the Malaysian economic trajectory, experience fintech facilities, etc. In addition, the numismatic hall shows how coins and notes were produced (Bank Negara Malaysia Museum \u0026amp; Art Gallery, 2025).\u003c/p\u003e \u003cp\u003e \u003c/p\u003e \u003cp\u003eFigure \u003cspan refid=\"Fig2\" class=\"InternalRef\"\u003e2\u003c/span\u003e shows the pictures captured during this visiting and teaching module. Furthermore, the qualitative feedback provided by the professor leading the Indian group mentioned the following:\u003cdiv class=\"BlockQuote\"\u003e\u003cp\u003eWe know it\u0026rsquo;s a unique opportunity for this visit. We can see the museum near the World Bank Malaysia Office, the South East Asian Central Banks (SEACEN) Research and Training Centre, and the Islamic Financial Services Board. Normally, it\u0026rsquo;s not easily accessible to ordinary people. We appreciate your efforts to cultivate students\u0026rsquo; ability to think from a policymaker\u0026rsquo;s perspective and to develop high-level insights.\u003c/p\u003e\u003c/div\u003e\u003c/p\u003e \u003c/div\u003e \u003cdiv id=\"Sec8\" class=\"Section2\"\u003e \u003ch2\u003e4.4 Industrial Heritage Teaching Part\u003c/h2\u003e \u003cp\u003eIndustrial heritage refers to historical buildings, machinery, and workshops. Since the transition of their functions, the tangible and intangible legacies have retained their value and meaning. (Loures, L., \u003cspan citationid=\"CR20\" class=\"CitationRef\"\u003e2008\u003c/span\u003e). A shift in both function and position is typically linked to environmentalists and tourism professionals. It primarily aims to revitalize these locations and repurpose abandoned factories and sites (Ćopić et al., \u003cspan citationid=\"CR10\" class=\"CitationRef\"\u003e2014\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eRelated teaching content and case studies of this module include several important examples. Examples include the successful transformation of the German Ruhr Area and the transition and revitalization of Shougang Park (Beijing Capital Steel Park). Nonetheless, the failure sample, which included the inadequate maintenance of the Esplanade Mansions and the Railway Saloon Shed in India, was also added to the teaching content. The significance here is that these cases illustrate how a nation can acknowledge the value of industrial heritage and invest resources, energy, and expertise to successfully transform industrial sites.\u003c/p\u003e \u003cp\u003eThe success of the Beijing Capital Steel Park is closely linked to the Chinese government\u0026rsquo;s economic restructuring goals and pollution protection concerns. By shifting its product line and manufacturing sectors to Hebei Province in 2005 and by renewing and revitalizing its facilities and equipment to welcome the Beijing 2022 Winter Olympics, it is expected to reflect the Chinese government\u0026rsquo;s energy and industrial strategy, especially the key concern in Industrial Heritage transformation. Shougang Park is currently the sole transformation site; however, it has already become an experimental hub for Apollo Go's autonomous driving. Comprehensive revitalization and shifts have already made this park more attractive, vibrant, and international (People\u0026rsquo;s Daily Online, \u003cspan citationid=\"CR13\" class=\"CitationRef\"\u003e2024\u003c/span\u003e; Beijing Government, 2023).\u003c/p\u003e \u003cp\u003eStudents were encouraged to apply the knowledge gained in class on industrial heritage transformation to conduct field investigations and gain a comprehensive understanding of the entire transformation process. In addition, the author presents several cases of unsuccessful transformations to illustrate how a lack of awareness of industrial heritage values and failure to address site vacancies have hindered redevelopment efforts in certain countries.\u003c/p\u003e \u003c/div\u003e \u003cdiv id=\"Sec9\" class=\"Section2\"\u003e \u003ch2\u003e4.5 Industrial Heritage Investigation\u003c/h2\u003e \u003cp\u003eThe Zhongshan building in Kampung Attap, built in the 1950s was selected as the case study. It was a family butchery that included a living hostel. Over the years, it served as a community hub for the Selangor Zhongshan Association and small businesses and later became a hostel for foreign workers in the early 2000s. After reclaiming the building and receiving a grant from some artists with the idea of creating a center for creativity (Chin, \u003cspan citationid=\"CR8\" class=\"CitationRef\"\u003e2022\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eBased on the feedback discussed in Chap.\u0026nbsp;6, while students had opportunities to practice investigation skills, many Indian participants viewed and witnessed industrial heritage in a broader sense than the conventional definitions. Moreover, the students showed a clear interest in visiting real factories, companies, and production lines, expressing a desire to observe industrial operations directly and gain practical insights into manufacturing and innovation in their local contexts. Figure\u0026nbsp;\u003cspan refid=\"Fig3\" class=\"InternalRef\"\u003e3\u003c/span\u003e has recorded their investigation and the on-site scene. This figure is based on real-world evidence and provides high practical reference value for trainers.\u003c/p\u003e \u003cp\u003e \u003c/p\u003e \u003c/div\u003e \u003cdiv id=\"Sec10\" class=\"Section2\"\u003e \u003ch2\u003e4.6 Prototype Pitch \u0026amp; Student Presentation\u003c/h2\u003e \u003cp\u003eThe final day was dedicated to student presentations. The selected topic and prototype pitch were intentionally flexible to encourage creativity and enhance communication skills through hands-on practice. We encouraged Group 1 to establish a new startup, develop a new product, and present their operational system, ultimately aiming for an initial public offering (IPO) in Nasdaq.(Fig.\u0026nbsp;\u003cspan refid=\"Fig4\" class=\"InternalRef\"\u003e4\u003c/span\u003e) This is closely linked to their financial knowledge and the function of the financial instruments they have learned. The prototype and product design included an innovative blockchain exchange platform. Another group designed a customizable caf\u0026eacute; to instill an environmental ethos in environmentally friendly disposable cups. Each of these ideas reflects a commitment to creativity and modernization in various industries.\u003c/p\u003e \u003cp\u003e \u003c/p\u003e \u003cp\u003eGroup 2 students were more focused on maximizing their companies\u0026rsquo; profits and portfolios. With superior creativity, they mentioned equity swaps and auctions, and exhibited excellent negotiation skills. It is evident that during the industrial heritage investigation, they gained practical communication, nomination, and hands-on skills.\u003c/p\u003e \u003c/div\u003e"},{"header":"5. RESULTS AND DISCUSSION","content":"\u003cp\u003eThe implementation of this teaching plan was carried out by two Indian study tour groups. Since both groups of Indian students majored in business and administration, the authors also served as the principal lecturers, conducting the sessions and recording their reactions, feedback, and other reflections.\u003c/p\u003e \u003cp\u003eQuestionnaires were distributed to measure Self-Motivation, Financial Planning, Business and Economic Literacy, and Practical Skills. Based on the collected data and analysis, we aimed to identify the factors that played the most significant roles in class outcomes and achievements. Additionally, we evaluated the implementation of the Experiential Learning Cycle, Self-Regulated Learning, and Situated Learning theories.\u003c/p\u003e \u003cdiv id=\"Sec12\" class=\"Section2\"\u003e \u003ch2\u003e5.1 Group 1 Feedback and Data Analysis\u003c/h2\u003e \u003cp\u003eTable\u0026nbsp;\u003cspan refid=\"Tab6\" class=\"InternalRef\"\u003e6\u003c/span\u003e, Table\u0026nbsp;\u003cspan refid=\"Tab7\" class=\"InternalRef\"\u003e7\u003c/span\u003e, Table\u0026nbsp;\u003cspan refid=\"Tab8\" class=\"InternalRef\"\u003e8\u003c/span\u003e are part of the Descriptive Analysis of the Group 1 students. It mainly demonstrate their age, location and attitude towards the curriculum.\u003c/p\u003e \u003cp\u003e \u003cdiv class=\"gridtable\"\u003e\u003ctable float=\"Yes\" id=\"Tab6\" border=\"1\"\u003e \u003ccaption language=\"En\"\u003e \u003cdiv class=\"CaptionNumber\"\u003eTable 6\u003c/div\u003e \u003cdiv class=\"CaptionContent\"\u003e \u003cp\u003eData on Group 1 Students\u0026rsquo; ages\u003c/p\u003e \u003c/div\u003e \u003c/caption\u003e \u003ccolgroup cols=\"4\"\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c1\" colnum=\"1\"\u003e\u003c/div\u003e \u003cdiv align=\"char\" char=\".\" class=\"colspec\" colname=\"c2\" colnum=\"2\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c3\" colnum=\"3\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c4\" colnum=\"4\"\u003e\u003c/div\u003e \u003cthead\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c1\" morerows=\"1\" rowspan=\"2\"\u003e \u003cp\u003e\u0026lt;\u0026thinsp;20 Years old\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003eStudents number\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003ePercent\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c4\"\u003e \u003cp\u003eValid Percent\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003e10\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003e31.25%\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c4\"\u003e \u003cp\u003e31.25%\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003c/thead\u003e \u003ctbody\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003e\u0026gt;\u0026thinsp;20 Years old\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e22\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e68.75%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e68.75%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eTotal\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e32\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e100%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e100%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003c/tbody\u003e \u003c/colgroup\u003e \u003c/table\u003e\u003c/div\u003e \u003c/p\u003e \u003cp\u003e \u003cdiv class=\"gridtable\"\u003e\u003ctable float=\"Yes\" id=\"Tab7\" border=\"1\"\u003e \u003ccaption language=\"En\"\u003e \u003cdiv class=\"CaptionNumber\"\u003eTable 7\u003c/div\u003e \u003cdiv class=\"CaptionContent\"\u003e \u003cp\u003eData on Group 1 Students\u0026rsquo; Location\u003c/p\u003e \u003c/div\u003e \u003c/caption\u003e \u003ccolgroup cols=\"4\"\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c1\" colnum=\"1\"\u003e\u003c/div\u003e \u003cdiv align=\"char\" char=\".\" class=\"colspec\" colname=\"c2\" colnum=\"2\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c3\" colnum=\"3\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c4\" colnum=\"4\"\u003e\u003c/div\u003e \u003cthead\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c1\" morerows=\"1\" rowspan=\"2\"\u003e \u003cp\u003eUttar Pradesh\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003eStudents number\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003ePercent\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c4\"\u003e \u003cp\u003eValid Percent\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003e15\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003e46.87%\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c4\"\u003e \u003cp\u003e46.87%\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003c/thead\u003e \u003ctbody\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eMaharashtra\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e10\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e31.25%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e31.25%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eRajasthan\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e3\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e9.37%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e9.68%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eNational Capital Territory\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e2\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e6.25%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e6.45%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eTamil Nadu\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e2\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e6.25%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e3.23%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eTotal\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e32\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e100%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e100%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003c/tbody\u003e \u003c/colgroup\u003e \u003c/table\u003e\u003c/div\u003e \u003c/p\u003e \u003cp\u003e \u003cdiv class=\"gridtable\"\u003e\u003ctable float=\"Yes\" id=\"Tab8\" border=\"1\"\u003e \u003ccaption language=\"En\"\u003e \u003cdiv class=\"CaptionNumber\"\u003eTable 8\u003c/div\u003e \u003cdiv class=\"CaptionContent\"\u003e \u003cp\u003eDomains of Group 1 Student Growth Reflected in Feedback\u003c/p\u003e \u003c/div\u003e \u003c/caption\u003e \u003ccolgroup cols=\"4\"\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c1\" colnum=\"1\"\u003e\u003c/div\u003e \u003cdiv align=\"char\" char=\".\" class=\"colspec\" colname=\"c2\" colnum=\"2\"\u003e\u003c/div\u003e \u003cdiv align=\"char\" char=\".\" class=\"colspec\" colname=\"c3\" colnum=\"3\"\u003e\u003c/div\u003e \u003cdiv align=\"char\" char=\".\" class=\"colspec\" colname=\"c4\" colnum=\"4\"\u003e\u003c/div\u003e \u003cthead\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c1\" morerows=\"1\" rowspan=\"2\"\u003e \u003cp\u003eSelf-Motivation\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003eStudents number\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003ePercent\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c4\"\u003e \u003cp\u003eValid Percent\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003e19\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003e59.37%\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c4\"\u003e \u003cp\u003e59.37%\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003c/thead\u003e \u003ctbody\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eFinancial Planning\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e27\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c3\"\u003e \u003cp\u003e84.37%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c4\"\u003e \u003cp\u003e84.37%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eBusiness and Economic Literacy\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e30\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c3\"\u003e \u003cp\u003e93.75%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c4\"\u003e \u003cp\u003e93.75%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003ePractical Skill\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e9\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c3\"\u003e \u003cp\u003e28.12%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c4\"\u003e \u003cp\u003e28.12%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003c/tbody\u003e \u003c/colgroup\u003e \u003c/table\u003e\u003c/div\u003e \u003c/p\u003e \u003cp\u003eAmong the students, 93.75% and 84.37% reported progress and positive feelings toward financial planning, business, and economic literacy, respectively. Furthermore, to better understand students\u0026rsquo; feelings and attitudes towards the modules and program, the authors conducted interviews with the participating students to gather qualitative feedback.\u003c/p\u003e \u003cp\u003e \u003cem\u003eStudent A\u003c/em\u003e:\u003cdiv class=\"BlockQuote\"\u003e\u003cp\u003eI learned about a confident attitude and critical thinking during this module program. The professor taught us that we can do anything, and we should be more confident.\u003c/p\u003e\u003c/div\u003e\u003c/p\u003e \u003cp\u003e \u003cem\u003eStudent B\u003c/em\u003e:\u003cdiv class=\"BlockQuote\"\u003e\u003cp\u003eI know it is a precious opportunity to visit the bank museum, usually the tour guide or teachers will not bring us business students to such a practical and hands-on place.\u003c/p\u003e\u003c/div\u003e\u003c/p\u003e \u003cp\u003e \u003cem\u003eStudent C\u003c/em\u003e:\u003cdiv class=\"BlockQuote\"\u003e\u003cp\u003eIt was a great opportunity to interact and mutually communicate with you.\u003c/p\u003e\u003c/div\u003e\u003c/p\u003e \u003cp\u003eIn the summary analysis of Group 1, based on students\u0026rsquo; feedback and comments, it can be observed that 93.75% and 84.37% of participants benefited from the modules on business and economic literacy and financial planning, respectively. Nevertheless, both the quantitative and qualitative data indicate that students consistently emphasized the importance of feeling supported and actively involved in prototype design activities, such as simulating an IPO on the NASDAQ. These experiences contributed to enhanced confidence and self-motivation, which in turn supported their progress and enabled them to make notable advancements in venture development.\u003c/p\u003e \u003c/div\u003e \u003cdiv id=\"Sec13\" class=\"Section2\"\u003e \u003ch2\u003e5.2 Group 2 Feedback and Data Analysis\u003c/h2\u003e \u003cp\u003eTable\u0026nbsp;\u003cspan refid=\"Tab9\" class=\"InternalRef\"\u003e9\u003c/span\u003e, Table\u0026nbsp;\u003cspan refid=\"Tab10\" class=\"InternalRef\"\u003e10\u003c/span\u003e, Table\u0026nbsp;\u003cspan refid=\"Tab11\" class=\"InternalRef\"\u003e11\u003c/span\u003e are part of the Descriptive Analysis of the Group 2 students. It mainly demonstrates their age, location and attitude towards the curriculum and course arrangement.\u003c/p\u003e \u003cp\u003e \u003cdiv class=\"gridtable\"\u003e\u003ctable float=\"Yes\" id=\"Tab9\" border=\"1\"\u003e \u003ccaption language=\"En\"\u003e \u003cdiv class=\"CaptionNumber\"\u003eTable 9\u003c/div\u003e \u003cdiv class=\"CaptionContent\"\u003e \u003cp\u003eData on Group 2 Students\u0026rsquo; ages\u003c/p\u003e \u003c/div\u003e \u003c/caption\u003e \u003ccolgroup cols=\"4\"\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c1\" colnum=\"1\"\u003e\u003c/div\u003e \u003cdiv align=\"char\" char=\".\" class=\"colspec\" colname=\"c2\" colnum=\"2\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c3\" colnum=\"3\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c4\" colnum=\"4\"\u003e\u003c/div\u003e \u003cthead\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c1\" morerows=\"1\" rowspan=\"2\"\u003e \u003cp\u003e\u0026lt;\u0026thinsp;20 Years old\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003eStudents number\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003ePercent\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c4\"\u003e \u003cp\u003eValid Percent\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003e3\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003e15.79%\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c4\"\u003e \u003cp\u003e15.79%\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003c/thead\u003e \u003ctbody\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003e\u0026gt;\u0026thinsp;20 Years old\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e16\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e84.21%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e84.21%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eTotal\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e19\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e100%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e100%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003c/tbody\u003e \u003c/colgroup\u003e \u003c/table\u003e\u003c/div\u003e \u003c/p\u003e \u003cp\u003e \u003cdiv class=\"gridtable\"\u003e\u003ctable float=\"Yes\" id=\"Tab10\" border=\"1\"\u003e \u003ccaption language=\"En\"\u003e \u003cdiv class=\"CaptionNumber\"\u003eTable 10\u003c/div\u003e \u003cdiv class=\"CaptionContent\"\u003e \u003cp\u003eData on Group 2 Students\u0026rsquo; Location\u003c/p\u003e \u003c/div\u003e \u003c/caption\u003e \u003ccolgroup cols=\"4\"\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c1\" colnum=\"1\"\u003e\u003c/div\u003e \u003cdiv align=\"char\" char=\".\" class=\"colspec\" colname=\"c2\" colnum=\"2\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c3\" colnum=\"3\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c4\" colnum=\"4\"\u003e\u003c/div\u003e \u003cthead\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c1\" morerows=\"1\" rowspan=\"2\"\u003e \u003cp\u003eMaharashtra\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003eStudents number\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003ePercent\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c4\"\u003e \u003cp\u003eValid Percent\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003e4\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003e21.10%\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c4\"\u003e \u003cp\u003e21.10%\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003c/thead\u003e \u003ctbody\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eUttar Pradesh\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e3\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e15.78%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e15.78%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eKerala\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e3\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e15.78%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e15.78%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eNational Capital Kerala\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e3\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e15.78%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e15.78%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eRajasthan\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e1\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e5.26%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e5.26%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eUttarakhand\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e1\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e5.26%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e5.26%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eOdisha\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e1\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e5.26%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e5.26%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eMadhya Pradesh\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e1\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e5.26%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e5.26%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eHaryana\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e1\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e5.26%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e5.26%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eBihar\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e1\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e5.26%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e5.26%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eTotal\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e19\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003e100%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c4\"\u003e \u003cp\u003e100%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003c/tbody\u003e \u003c/colgroup\u003e \u003c/table\u003e\u003c/div\u003e \u003c/p\u003e \u003cp\u003e \u003cdiv class=\"gridtable\"\u003e\u003ctable float=\"Yes\" id=\"Tab11\" border=\"1\"\u003e \u003ccaption language=\"En\"\u003e \u003cdiv class=\"CaptionNumber\"\u003eTable 11\u003c/div\u003e \u003cdiv class=\"CaptionContent\"\u003e \u003cp\u003eDomains of Group 2 Student Growth Reflected in Feedback\u003c/p\u003e \u003c/div\u003e \u003c/caption\u003e \u003ccolgroup cols=\"4\"\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c1\" colnum=\"1\"\u003e\u003c/div\u003e \u003cdiv align=\"char\" char=\".\" class=\"colspec\" colname=\"c2\" colnum=\"2\"\u003e\u003c/div\u003e \u003cdiv align=\"char\" char=\".\" class=\"colspec\" colname=\"c3\" colnum=\"3\"\u003e\u003c/div\u003e \u003cdiv align=\"char\" char=\".\" class=\"colspec\" colname=\"c4\" colnum=\"4\"\u003e\u003c/div\u003e \u003cthead\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c1\" morerows=\"1\" rowspan=\"2\"\u003e \u003cp\u003eSelf-Motivation\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003eStudents number\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003ePercent\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c4\"\u003e \u003cp\u003eValid Percent\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003e15\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003e78.94%\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c4\"\u003e \u003cp\u003e78.94%\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003c/thead\u003e \u003ctbody\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eMutual Communication\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e16\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c3\"\u003e \u003cp\u003e84.21%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c4\"\u003e \u003cp\u003e84.21%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eFinancial Planning\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e7\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c3\"\u003e \u003cp\u003e36.84%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c4\"\u003e \u003cp\u003e36.84%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eBusiness and Economic Literacy\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e11\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c3\"\u003e \u003cp\u003e57.89%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c4\"\u003e \u003cp\u003e57.89%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003ePractical Skill\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e10\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c3\"\u003e \u003cp\u003e52.63%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c4\"\u003e \u003cp\u003e52.63%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eEnglish Level\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c2\"\u003e \u003cp\u003e11\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c3\"\u003e \u003cp\u003e57.89%\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"char\" char=\".\" colname=\"c4\"\u003e \u003cp\u003e57.89%\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003c/tbody\u003e \u003c/colgroup\u003e \u003c/table\u003e\u003c/div\u003e \u003c/p\u003e \u003cp\u003eAmong the participants in Group 2, 78.94% and 84.21% claimed that this module helped them make progress and experience positive feelings, particularly in self-motivation, confidence, and mutual communication.\u003c/p\u003e \u003cp\u003eHowever, data from a single group does not provide comprehensive results; therefore, we conducted supplementary interviews to gather further insight.\u003c/p\u003e \u003cp\u003e \u003cem\u003eStudent A\u003c/em\u003e:\u003cdiv class=\"BlockQuote\"\u003e\u003cp\u003eThe Global Immersion Program makes me know more about the real-world perspectives, and the engaging teaching way is enjoyable. I felt the positive energy you shared with us.\u003c/p\u003e\u003c/div\u003e\u003c/p\u003e \u003cp\u003e \u003cem\u003eStudent B\u003c/em\u003e:\u003cdiv class=\"BlockQuote\"\u003e\u003cp\u003eI\u0026rsquo;m studying for an MBA in India, and our program lasts for two years. This program includes case studies and visits to the bank museum, where we can learn about the principles of central bank operations.\u003c/p\u003e\u003c/div\u003e\u003c/p\u003e \u003cp\u003e \u003cem\u003eStudent C\u003c/em\u003e:\u003cdiv class=\"BlockQuote\"\u003e\u003cp\u003eGenerally, in India, university courses often involve lecturers teaching on stage with little interaction and communication, but when we took the program here, we felt the engagement and encouragement.\u003c/p\u003e\u003c/div\u003e\u003c/p\u003e \u003cp\u003eIn this part of the conclusion, it was observed that the students in Group 2 exhibited significant improvement in their self-motivation, confidence, and communication skills. This improvement may be attributed to their engagement in field investigations and to discussions with the lecturer on addressing business problems in a relaxed atmosphere, as well as to their experience with the negotiation process during the final presentation. We believe that these elements will enhance students\u0026rsquo; self-motivation and confidence. Furthermore, their awareness and proficiency in cosmopolitan English, along with their overall learning experience, demonstrated noticeable progress.\u003c/p\u003e \u003c/div\u003e"},{"header":"6. CONCLUSION AND PRACTICAL IMPLICATIONS","content":"\u003cp\u003eConsequently, the Integrating Financial Literacy and Industrial Heritage Case Study, which aligns with the Immersive and Situated Learning Approach, has increased students\u0026rsquo; competency, engagement and motivation. The financial literacy component, together with the prototype pitch and IPO presentation activities, strengthened students\u0026rsquo; understanding of financial planning, business knowledge, and economic literacy to varying extents. Simultaneously, the industrial heritage education and hands-on field significantly improved students\u0026rsquo; self-motivation and practical skills.\u003c/p\u003e \u003cp\u003eIn the pedagogical theory application and refinement section, this article draws on multiple teaching cases to illustrate how the transition from Concrete Experience (CE) to Active Experimentation (AE) can be achieved through field investigations, role-playing in business negotiations, and other simulation-based instructional approaches. Furthermore, in line with Self-Regulated Learning Theory and Situated Learning Theory, the lecturer\u0026rsquo;s encouragement and use of role-playing activities in business contexts not only provide authentic and situated learning environments but also enhance students\u0026rsquo; self-motivation and emotional engagement. This helps explain why the \u0026ldquo;self-motivation\u0026rdquo; cluster remains consistently high across both observation groups. Overall, this study provides a replicable teaching model with a teaching plan and notes that can be applied in various developing countries, highlighting the value of integrating real-world experiences into business and financial education.\u003c/p\u003e"},{"header":"Declarations","content":"\u003cp\u003e\u003cstrong\u003eResearch Funding\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThis research received no external funding.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eAI Acknowledgment \u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe authors acknowledge the use of ChatGPT and Grammarly to assist in matching business education subjects and references, refining language, checking grammar, and enhancing the clarity and structure of specific tables and paragraphs. Although the authors acknowledge the use of AI, they maintain that they are the sole authors of this article and take full responsibility for its content, as outlined in the COPE recommendations.\u003c/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eInformed Consent \u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThis study was conducted with informed consent from all participants. Participants were informed of the study\u0026rsquo;s research purpose, procedures, potential risks and benefits, and their right to withdraw at any time without penalty. Written consent was obtained from all participants.\u003c/p\u003e\n\u003cp\u003eThe images, logos, and posters were authorized by the author, who retained copyright and publication rights. Participants\u0026rsquo; portraits and information were anonymous.\u003c/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eConflict of Interest \u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe authors declare that there is no conflict of interest.\u003c/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eConsent for Publication\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe author consents to the publication and grants authorization for all images and figures included in this article. The authors declare that this article has not been previously published.\u003c/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eACKNOWLEDGMENTS\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eI would like to express my heartfelt gratitude to all members of the UCSI Consulting Group and UCSI Graduate Business School (GBS), especially Ms. Kimberley, Mr. Kok Hao Ran, Dr. Alan Keoy Kay Hooi, and Dr. Eva Lim Wei Lee. The staff at the UCSI Consulting Group and GBS provided invaluable support in implementing this teaching program and coordinating industrial visits. Only with the support and arrangements of our GBS Dean, Dr. Alan Keoy Kay Hooi, Deputy Dean, Dr. Eva Lim Wei Lee, and UCG colleagues was I able to implement the course design and conduct the teaching experiments.\u003c/p\u003e\n\u003cp\u003eAdditionally, students from different Indian business schools play a crucial role in coordinating and enrolling in courses. This collaboration enabled me to implement the Integrating Financial Literacy and Industrial Heritage Case Study Teaching Plan. Their diverse talent, innovative business ideas, and warm and sincere expressions inspired me continuously.\u003c/p\u003e\n\n"},{"header":"References","content":"\u003col\u003e\u003cli\u003e\u003cspan\u003eAbdulwahed M, Nagy ZK (2009) Applying Kolb\u0026rsquo;s Experiential Learning Cycle for Laboratory Education. 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However, business‑education literature remains largely theoretical and offers few empirically tested teaching models that combine financial literacy, industrial‑heritage learning, and experiential pedagogies, especially for students in developing‑country contexts. The curriculum integrates financial literacy, industrial heritage awareness, and extensive hands-on practice, enabling international business students to develop a solid understanding of core business and management concepts.\u003c/p\u003e \u003cp\u003eThis study draws on the Experiential Learning Cycle, Self-Regulated Learning Theory, and Situated Learning Theory. The teaching implementation included a field visit to the Malaysia National Bank Museum and an industrial heritage investigation of the Zhongshan Building. Two groups of participants participated in this experiment. Upon completion of the modules and curriculum, students were required to present their investigations of industrial heritage, propose a new business idea, or design a prototype pitch suitable for industry-related or financial products.\u003c/p\u003e \u003cp\u003eThe mixed-method assessment of student feedback and feelings indicated that mutual communication and encouragement effectively guide the process from Concrete Experience to Active Experimentation. Moreover, to implement Self-Regulated and Situated Learning theories, the author served as the main lecturer, focusing on empathy and fostering students\u0026rsquo; self-motivation and emotional engagement. Participants\u0026rsquo; positive feedback was also evident in the final data and analysis.\u003c/p\u003e \u003cp\u003eFinally, we propose a teaching model and instructional framework for business and financial education in developing countries. The author also welcomes educators to refer to this program, share this module and syllabus as an opening resource, contributing to global pedagogy research.\u003c/p\u003e","manuscriptTitle":"Integrating Financial Literacy and Industrial Heritage: An Experiential Curriculum Approach to Cultural Sustainability and Responsible Business Education","msid":"","msnumber":"","nonDraftVersions":[{"code":1,"date":"2026-04-20 18:42:14","doi":"10.21203/rs.3.rs-9286271/v1","editorialEvents":[{"type":"communityComments","content":0}],"status":"published","journal":{"display":true,"email":"[email protected]","identity":"researchsquare","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":true,"externalIdentity":"","sideBox":"","snPcode":"","submissionUrl":"/submission","title":"Research Square","twitterHandle":"researchsquare","acdcEnabled":true,"dfaEnabled":false,"editorialSystem":"","reportingPortfolio":"","inReviewEnabled":false,"inReviewRevisionsEnabled":true}}],"origin":"","ownerIdentity":"dce0f43e-dd25-43b6-ab4b-e90c6b58c861","owner":[],"postedDate":"April 20th, 2026","published":true,"recentEditorialEvents":[{"type":"decision","content":"Rejected","date":"2026-05-11T00:03:24+00:00","index":"","fulltext":""},{"type":"editorInvitedReview","content":"","date":"2026-05-10T09:55:41+00:00","index":38,"fulltext":""},{"type":"editorInvitedReview","content":"","date":"2026-05-08T10:08:05+00:00","index":37,"fulltext":""}],"rejectedJournal":[],"revision":"","amendment":"","status":"posted","subjectAreas":[],"tags":[],"updatedAt":"2026-05-11T00:09:33+00:00","versionOfRecord":[],"versionCreatedAt":"2026-04-20 18:42:14","video":"","vorDoi":"","vorDoiUrl":"","workflowStages":[]},"version":"v1","identity":"rs-9286271","journalConfig":"researchsquare"},"__N_SSP":true},"page":"/article/[identity]/[[...version]]","query":{"redirect":"/article/rs-9286271","identity":"rs-9286271","version":["v1"]},"buildId":"XKTyCvWXoU3ODBz1xrDgd","isFallback":false,"isExperimentalCompile":false,"dynamicIds":[84888],"gssp":true,"scriptLoader":[]}