Evaluating project-based learning in real-world business challenges: the role of problem definition and mentoring in university–industry collaboration

Purpose This article examines how predefined business challenges and industry mentoring in project-based learning (PBL) shape students' learning experiences in business education. It focuses on the pedagogical tension between structured support and student autonomy, with particular attention to problem analysis, perceived project value and professional skill development. Design/methodology/approach A comparative design was implemented using two parallel PBL modalities: one involving predefined challenges and industry mentoring, and another in which students independently defined their projects without external support. Data were collected through a validated survey. Statistical analysis included principal component analysis, nonparametric tests and regression modelling. Findings Predefined challenges significantly reduced students' perceived difficulty in problem identification and analysis, particularly in early project stages. Industry mentoring did not significantly enhance students' perceptions of project value. Competency development and knowledge application were the strongest predictors of students' overall project evaluation. Research limitations/implications The study is limited by its single-institution context, modest sample size and exploratory mentoring design. Future research should adopt longitudinal and multi-institutional approaches and further operationalize mentoring practices. Practical implications The findings provide guidance for designing PBL initiatives that integrate industry collaboration while preserving student autonomy. In particular, mentor training and the inclusion of structured opportunities for students to negotiate or refine predefined challenges are recommended to strengthen alignment with pedagogical goals. Social implications University–industry collaborations in education can foster graduate employability by connecting academic knowledge with real-world business needs, supporting skill development relevant to fast-changing economies. Originality/value This study provides empirical evidence on how different configurations of structure and autonomy shape learning experiences in experiential business education, offering design-oriented insights for scalable university–industry collaboration models that may foster students' critical thinking and problem-solving in complex business environments.