Chamindika Weerakoon, Rosemary Fisher, Quyen Tran, Taylor Gogan, James S. Williams
Existing literature on generative AI (genAI) in business education has examined students’ attitudes, motivation, and the ethics of genAI use, alongside ongoing debate about whether genAI over-reliance may diminish self-regulated learning (SRL). However, how students self-regulate their learning while working with genAI during authentic tasks remains under-explored. This study addresses this gap by examining (RQ1) how students' self-regulatory strategies manifest during genAI-assisted learning and (RQ2) how these strategies change through genAI interaction . A thematic analysis was conducted of 34 metacognitive reflections generated across two scaffolded, four-stage experiential learning activities in a Lean Startup unit. Findings inform a three-stage AI-mediated recursive loop model, comprising monitoring, strategic adoption, and limitation identification, that extends cyclical models of self-regulated learning by showing how regulation may be initiated within the task by genAI-generated suggestions. Within this structured, reflective learning context, students indicated evaluative judgement and metacognitive regulation, providing preliminary evidence that scaffolded genAI activities can elicit active rather than passive engagement. GenAI-supported cognitive deepening was task-contingent, emerging most strongly during applied refinement tasks. The model offers management educators a pedagogical process model for designing scaffolded genAI-assisted activities that elicit monitoring, selective adoption, and critical reflection.