Entrepreneurship & Innovation Management

Arvind Parkhe, Chair
215-204-6618
aparkhe@temple.edu
http://www.fox.temple.edu/cms_academics/dept/strategic-management/

Robert McNamee, Managing Director
Innovation and Entrepreneurship Institute (IEI)
robert.mcnamee@temple.edu

Entrepreneurs are creative problem-solvers that are driven to have a big impact on the world. Many of Temple University's Entrepreneurship students start new businesses during or after college, but many more go on to work in exciting jobs with companies that realize the importance of innovation and the value of students that can think outside the box, recognize opportunities, and get the job done.

For students interested in Entrepreneurship and Innovation Management, we offer several options ranging from our major, minor, and certificate (see below) to the Innovate & Create Living Learning Community (open to Freshmen & Sophomores), a General Education Human Behavior course (SGM 0827 Creativity and Organizational Innovation), and numerous free workshops and competitions that are open to students from across Temple University. Please check Innovation & Entrepreneurship Institute for details on all of our programs. Note that Entrepreneurship courses are listed under the subject Strategic Management.

Temple's Entrepreneurship and Innovation Management programs are consistently ranked among the top in the nation (Princeton Review: #8 undergraduate for 2016). Through these programs you will learn how to be more creative, to recognize opportunities and generate innovations in all their forms, to understand the ecosystems and value chains of industries in order to envision new venture or product ideas, and you will be given the knowledge and tools necessary to launch and manage your own business or successfully propose new business ideas and change initiatives in any organizations you work for or with.

The Entrepreneurship and Innovation Management major is a good choice for students who:

  • Would like to start a new business
  • Want to have a positive social impact with a social venture
  • Anticipate doing consulting or freelance work
  • Plan to assume responsibilities in a family business
  • Want to be a creative and productive member of an innovative, high-growth business

The program is designed with a balance of theory (why) and practice (how), and our courses are taught by world-leading researchers, successful serial entrepreneurs, experienced venture capital executives, and senior innovation managers. Course work is closely tied to the co-curricular programs of the Innovation & Entrepreneurship Institute (IEI) like the Be Your Own Boss Bowl (BYOBB) (e.g., our capstone course focuses on coaching students on finalizing an idea for a new business and writing a business plan that can be submitted to the BYOBB for a chance to win over $100k in prizes) and other competitions (e.g., multiple students in our GenEd course SGM 0827 and Entrepreneurial Thinking course SGM 3501 typically win prizes in our Innovative Idea Competition).

We want our Entrepreneurship and Innovation Management majors to have experience when they graduate. Thus, our program includes a required internship course SGM 3685, and we expect all Entrepreneurship and Innovation Management majors to be active members in the Entrepreneurial Student Association (ESA) where they can work on a variety of interesting projects with local companies and the community. We typically have 40 to 60 internships available at a given time and students can start as early as Freshman year gaining value domain expertise and work experience. 

Finally, students are able to focus on actually launching a new venture while completing their degree and taking our courses. Experiential courses like SGM 3504 Ready, Fire, Aim: Launching a Profitable Micro-venture in 100 Days, SGM 3580 Selling Professional Services, and SGM 3521 Finance Your Ideas: Crowdfunding, Grants, Banks, Venture Funds, Corporate and Private Investment get students out of the classroom so they can become successful entrepreneurs, or even serial entrepreneurs, before they graduate.

Accelerated 3 Year BBA

Motivated students can accelerate their BBA program to finish in 3 years. Please see the suggested sequence.  

Minors

Entrepreneurship & Innovation Management Minor

Students in any college who wish to understand how to innovate, pursue opportunities, and turn their ideas into reality by creating and managing a successful entrepreneurial or innovative business or social venture can pursue a minor in Entrepreneurship and Innovation Management.

The minor is appropriate for all Fox School majors but particularly relevant for students in marketing, finance, human resources, and MIS who are interested in being high-potential, creative, and innovative employees as well as those who would like to launch a venture or work as part of the growing entrepreneurial ecosystem.

Requirements for the minor must be completed prior to graduation. Courses cannot be used to meet minor requirements if already used to meet the requirements for a major or a different minor.

Information Technology Innovation and Entrepreneurship Minor

The Fox School Information Technology Innovation and Entrepreneurship (ITIE) minor integrates two of the most important elements of the Fox School: the enabling role of information technology and the creativity and drive of entrepreneurial thinking. It is offered as a joint venture between the departments of Strategic Management and Management Information Systems. 

The minor is appropriate for all Fox School majors but particularly relevant for students in marketing, finance, human resources, and MIS who are interested in applying IT in an entrepreneurial manner. Students who minor in ITIE will be well suited to work for corporations who want to drive new IT enabled innovative projects and for technology enabled start-ups.

Requirements for the minor must be completed prior to graduation. Courses cannot be used to meet minor requirements if already used to meet the requirements for a major or a different minor.

Certificate

Certificate in Entrepreneurship & Innovation Management (Non-Business Majors)

The nine-credit, three course undergraduate Certificate in Entrepreneurship & Innovation Management is designed to provide coursework to support alternative, entrepreneurial career paths for students across the university; to promote the entrepreneurial spirit by fostering opportunity recognition and resource acquisition that leads to innovation and invention; and to increase awareness of, and participation in, entrepreneurial opportunities available to all Temple students. This certificate will be jointly issued by the Fox School of Business and Management and its partner schools, and will appear on the student's transcript.

The requirements for this certificate must be completed prior to graduation. Courses cannot be used to meet minor requirements if already used to meet the requirements for a major or a different minor or certificate.

Summary of Requirements

University Requirements 

All new students are required to complete the university's General Education (GenEd) curriculum.

Note that students not continuously enrolled who have not been approved for a Leave of Absence or study elsewhere must follow University requirements current at the time of re-enrollment.

College Requirements

Students must meet College Graduation Requirements for the Bachelor of Business Administration, including the requirements of the major listed below. Students must attain an overall GPA of 2.0 or higher in the major and must maintain a 2.0 GPA overall in order to graduate as an entrepreneurship major. Entrepreneurship & Innovation Management students are expected to participate in the Entrepreneurial Student Association. To calculate the GPA in the major, use the major GPA calculator.

Major Requirements

Students must follow the Major Requirements and College Requirements current at the time of declaration. Students not continuously enrolled who have not been approved for a Leave of Absence or study elsewhere must follow University, College, and Major requirements current at the time of re-enrollment.

Requirements of Entrepreneurship & Innovation Management Major

ACCT 2521Cost Accounting 13
SGM 3685New Venture Internship: Learning to be a High-Value Employee, Manager, or Founder 23
SGM 4596Strategic Planning: The Business Plan as a Strategic Tool for Existing Businesses and Entrepreneurs 33
Select one Entrepreneurial Thinking elective: 43
Entrepreneurial and Innovative Thinking
Ready, Fire, Aim: Launching a Profitable Micro-venture in 100 Days
Entrepreneurial Management course:3
Lean Startup: Fast & Frugal Approaches to High-Impact New Ventures, Product Invention, & Innovation
Select one Entrepreneurial Marketing elective:3
Entrepreneurial Marketing
Marketing Research
Select one Entrepreneurial Breadth-Depth elective:3
Ready, Fire, Aim: Launching a Profitable Micro-venture in 100 Days 5
Doing Well by Doing Good: Where Innovation and Entrepreneurship Meet Social Impact
Finance Your Ideas: Crowdfunding, Grants, Banks, Venture Funds, Corporate and Private Investment 6
Special Topics - Strategic Management 7
Incubator Internship: Contribute, Connect and Learn as a Part of the Entrepreneurial Ecosystem
Independent Study 8
Power, Influence and Negotiation
Short Study Trip Abroad: Doing Business in a Foreign Country 9
Global Entrepreneurship
Information Systems Innovation
Social Media Innovation
Total Credit Hours21
1

ACCT 2521 replaces ACCT 2102  in the lower-division foundation requirements for Entrepreneurship & Innovation Management majors. This course is not calculated in the major GPA.  Students who have already completed ACCT 2102 are still required to take ACCT 2521.

2

Although SGM 3685 is not a prerequisite for SGM 4596, students are strongly encouraged to take SGM 3685 prior to their final semester at Temple.

3

This is the major capstone, and all prerequisites must be met.

4

Students who have completed SGM 0827 are advised to take SGM 3504 instead of SGM 3501.

5

SGM 3504 can be taken to satisfy Entrepreneurial Breadth-Depth Elective if not already completed to satisfy Entrepreneurial Thinking elective.

6

Students interested in taking SGM 3521 should have already assessed the viability of their idea for a new venture.  SGM 3501 or SGM 0827 and SGM 3503 are strongly recommended prior to taking SGM 3521. Students who do not meet these criteria may be required to complete additional supplementary work and should contact the professor to find out if they are sufficiently prepared to take this course. Students are encouraged to take SGM 3521 concurrently with or after SGM 4596.

7

SGM 3580 course topics vary each year and depending on the topic may be used to fill Entrepreneurial Management, Entrepreneurial Marketing, or Breadth-Depth category requirements. Approval of the IEI Academic or Managing Director or department chair required.

8

Independent Study projects will be identified or created by the IEI. Approval of the IEI Academic or Managing Director or department chair required.

9

Students interested in enrolling in IB 2509 should be aware that it is a competitive program and, if accepted, their research project must be Entrepreneurship related. Please contact: study.abroad@temple.edu.

NOTES

Students pursuing a double major in business can double-count a maximum of one course toward both majors.

Students pursuing a minor may not double count courses for the major and minor.

Suggested Academic Plan

Bachelor of Business Administration in Entrepreneurship & Innovation Management

Requirements for New Students starting in the 2016-2017 Academic Year

Please note that this plan is suggested only, ensuring prerequisites are met.

Year 1
FallCredit Hours
STAT 1001Quantitative Methods for Business I3
ECON 1101Macroeconomic Principles3
HRM 1101Leadership and Organizational Management3
ENG 0802, 0812, or 0902Analytical Reading and Writing [GW]4
GenEd Breadth Course3
 Term Credit Hours16
Spring
STAT 1102Quantitative Methods for Business II3
ECON 1102Microeconomic Principles3
LGLS 1101Legal Environment of Business3
IH 0851 or 0951Mosaic: Humanities Seminar I [GY]3
GenEd Breadth Course13
 Term Credit Hours15
Year 2
Fall
STAT 2103Statistical Business Analytics (waives GenEd Quantitative Literacy requirement)4
ACCT 2101Financial Accounting3
MIS 2101Information Systems in Organizations3
BA 2104Excel for Business Applications1
IH 0852 or 0952Mosaic: Humanities Seminar II [GZ]3
GenEd Breadth Course3
 Term Credit Hours17
Spring
ACCT 2521Cost Accounting3
MKTG 2101Marketing Management3
BA 2101Professional Development Strategies1
BA 2196Business Communications [WI]3
RMI 2101Introduction to Risk Management3
GenEd Breadth Course3
 Term Credit Hours16
Year 3
Fall
FIN 3101Financial Management3
MSOM 3101Operations Management3
BA 3102Business Society and Ethics3
IB 3101Fundamentals of International Business3
Select one Entrepreneurial Thinking elective:3
Entrepreneurial and Innovative Thinking 
Ready, Fire, Aim: Launching a Profitable Micro-venture in 100 Days 
 Term Credit Hours15
Spring
BA 3103Integrative Business Applications3
SGM 3503Lean Startup: Fast Frugal Approaches to High-Impact New Ventures, Product Invention, Innovation3
Select one Entrepreneurial Marketing elective:3
Entrepreneurial Marketing 
Marketing Research 
Select one Entrepreneurial Breadth-Depth elective:3
Ready, Fire, Aim: Launching a Profitable Micro-venture in 100 Days 
Doing Well by Doing Good: Where Innovation and Entrepreneurship Meet Social Impact 
Finance Your Ideas: Crowdfunding, Grants, Banks, Venture Funds, Corporate and Private Investment 
Special Topics - Strategic Management 
Incubator Internship: Contribute, Connect and Learn as a Part of the Entrepreneurial Ecosystem 
Independent Study 
Power, Influence and Negotiation 
Short Study Trip Abroad: Doing Business in a Foreign Country 
Global Entrepreneurship [WI] 
Information Systems Innovation 
Social Media Innovation 
GenEd Breadth Course3
 Term Credit Hours15
Year 4
Fall
BA 4101Global Business Policies3
SGM 3685New Venture Internship: Learning to be a High-Value Employee, Manager, or Founder3
GenEd Breadth Course3
GenEd Breadth Course3
Free Elective3
 Term Credit Hours15
Spring
SGM 4596Strategic Planning: The Business Plan as a Strategic Tool for Existing Businesses and Entrepreneurs [WI]3
Free Elective3
Free Elective3
Free Elective3
Free Elective3
 Term Credit Hours15
 Total Credit Hours: 124
1

SGM 0827 recommended for students interested in participating in Innovation Idea Competition or taking SGM 3504 Ready, Fire, Aim: Launching a Profitable Micro-venture in 100 Days. SGM 0827 also fulfills GenEd Human Behavior (GB) requirement.

Courses

SGM 0827. Creativity and Organizational Innovation. 3 Credit Hours.

Being creative is about solving problems or approaching opportunities in novel and valuable ways. This course is designed to help ALL students better harness their full creative potential - whether you think: "I am not creative" or "I already have more ideas than I can handle", this class will help you come up with more creative ideas that offer more value and have greater impact on the world. Although creativity has been studied by nearly every professional domain, this course focuses on creativity as a driver of organizational innovation - from non-profits to small businesses and large corporations to students' own entrepreneurial startups, creativity and innovation are critical to providing value and ensuring long-term survival. Throughout this course students will develop important life skills while learning to creatively solve problems through a number of real-world innovation challenges. No matter what career or profession you are going into, being more creative and appreciating how and why modern organizations function the way that they do will help you to be more valuable, more employable, more innovative, and more entrepreneurial.

Course Attributes: GB

Repeatability: This course may not be repeated for additional credits.

SGM 3001. Becoming a Manager: Building, Leading, and Managing New and Small Businesses. 3 Credit Hours.

This course is designed to introduce students with limited or no business background to the critical business management skills and tools needed to run a small enterprise or to launch a new venture and become a successful entrepreneur. Whether you want to become a manager, build a consulting or freelance business, start a new for-profit or non-profit venture, or simply want to be more successful working in any organization, understanding the fundamentals of management will help you achieve these goals. Traditional as well as cutting edge management principles will be discussed and students will learn to develop marketing plans, staffing and operational plans, and to analyze the financial viability of various business ideas. NOTE: Business students are not eligible to register for this course and should consider SGM 3503 instead.

College Restrictions: May not be enrolled in one of the following: Business & Mngmnt, Fox School

Repeatability: This course may not be repeated for additional credits.

SGM 3002. Be Your Own Boss: Planning to Start Your Own Business. 3 Credit Hours.

It's a fact: Entrepreneurs report greater satisfaction with their work. Chief among the reasons for this is the freedom to determine their own destiny and the appreciation of having a direct impact with their work. In the current economic climate, more and more students are finding entrepreneurial career paths offer them better or complementary options to traditional employment. This course provides students with an understanding of how to research, write, and present effective business plans. The business plan is a critical strategic document used to plan the launch, pivot, or growth of an enterprise. Students will learn about the interrelationship among the various aspects of the plan including the industry, target market, competition, marketing strategy, human resources, financial resources, and management team among others. Students will also learn about presenting the business plan as they engage in mock presentations to local entrepreneurs and venture capital investors.

NOTE: We recommend that non-business students take both an 'Entrepreneurial Thinking' and 'Entrepreneurial Management' course prior to taking SGM 3002 since students should have a feasible business idea prior to class start. Students who do not meet these criteria may be required to complete additional supplementary work and may want to contact the professor to find out if they are sufficiently prepared to take this course. Students cannot receive credit for both SGM 3002 and SGM 4596; Fox Entrepreneurship Majors should take SGM 4596 instead of this course.

Field of Study Restrictions: May not be enrolled in one of the following Majors: Entrprnrship & Innovation Mgt, Entrepreneurship

Repeatability: This course may not be repeated for additional credits.

SGM 3501. Entrepreneurial and Innovative Thinking. 3 Credit Hours.

Thinking like an entrepreneur is about seeing opportunities and passionately pursuing them. Anyone can be entrepreneurial -- whether you start the next Facebook, take control of your work-life balance with a lifestyle business, have an impact on the world with a social venture, or drive change and innovation in an existing company. The goal of this course is not to teach students to start a venture nor to manage a business (this is covered in later courses) but to help you understand the hidden value of your ideas. By highlighting the impact of various types of innovation in driving the development of industries and technological fields, we demonstrate the importance of strategy, competitive advantage, core competencies, and value chains to organizations and industries. By training students to identify opportunities and creatively solve problems, we help develop invaluable skills and perspectives that will make anyone more successful in their professional life. Finally, by showing students all the options that entrepreneurship offers as a potential career path, we begin the process of training you to become a successful entrepreneur.

Field of Study Restrictions: Must be enrolled in one of the following Fields of study: Accounting, Actuarial Science, Business Management, Career and Technical Education, Economics, Entrprnrship & Innovation Mgt, Entrepreneurship, Finance, Financial Planning, General Business Studies, Human Resource Management, International Business, Law & Business, Legal Studies, Management Information Systems, Marketing, Real Estate, Risk Management and Insurance, Supply Chain Management, Statistical Sci + Data Analyt, Undeclared-Business & Mngt

Repeatability: This course may not be repeated for additional credits.

SGM 3503. Lean Startup: Fast & Frugal Approaches to High-Impact New Ventures, Product Invention, & Innovation. 3 Credit Hours.

The Lean Startup or Lean Launchpad approach has transformed the way that entrepreneurship is taught and practiced and has even changed how the most innovative organizations in the world invent new products and services or reinvent themselves via innovation. In this experiential, hands-on course students will get a chance to learn about and apply Lean Startup's iterative (build-measure-learn) approach. You will start with an idea, create or attract a project team, develop your initial business model, identify your assumptions and hypotheses, and design/implement fast and frugal experiments or minimum-viable-products that help you make the decision to proceed, pivot, or restart. Individuals or teams with a business idea that they want to pursue are welcome as are those that want to work on a team to practice the approach.

Field of Study Restrictions: Must be enrolled in one of the following Fields of study: Accounting, Actuarial Science, Business Management, Economics, Entrprnrship & Innovation Mgt, Entrepreneurship, Finance, Financial Planning, Human Resource Management, International Business, Law & Business, Legal Studies, Management Information Systems, Marketing, Real Estate, Risk Management and Insurance, Supply Chain Management, Statistical Sci + Data Analyt, Undeclared-Business & Mngt

Repeatability: This course may not be repeated for additional credits.

SGM 3504. Ready, Fire, Aim: Launching a Profitable Micro-venture in 100 Days. 3 Credit Hours.

It has been said by many successful entrepreneurs and venture capitalists that NO venture is ever successful with its original business model--they all pivot by adapting their product, targeting a different market segment, changing their revenue model, etc. This reality is captured in the mantra--ready, fire, aim--which summarizes a fail-fast, learn, adapt, and succeed model that is taking over virtually all domains of entrepreneurship and innovation (from new venture launch to new product development). This course takes this idea to the streets as students identify an opportunity and work alone or in small teams to launch a business, pivot and adapt to real-time evidence gathered, and become profitable all during a single semester. Although not all students will launch their dream venture in this short time, they may be able to create a business that provides passive income, lets them exit by selling a profitable venture to someone, or allows them to save money to start their next venture. However, more than anything the real learning (and fun) begins once you get out of your head and the classroom to actually launch a business.

Repeatability: This course may not be repeated for additional credits.

SGM 3511. Doing Well by Doing Good: Where Innovation and Entrepreneurship Meet Social Impact. 3 Credit Hours.

These days the boundary between for-profit and social entrepreneurial ventures is increasingly becoming blurred. Every company, large and small, is making the multi bottom line of people-planet-profit an all-important goal. If you work in any organization or want to start a new venture of your own it is critical that you prioritize "purpose" or create "meaning." Organizations that ignore their impact on society and the world miss out on opportunities for innovation as well as the immense competitive advantage to having a positive social impact (i.e., doing good) while you do well. If you make meaning you will make people want to write stories about you, want to work for you, and want to buy from you. This course will explore the various ways the emerging U.S. social enterprise sector is evolving. More broadly, this class examines the ways in which entrepreneurship and business in general is embedded in--and affects--larger social, cultural, ecological, and economic relationships.

Repeatability: This course may not be repeated for additional credits.

SGM 3521. Finance Your Ideas: Crowdfunding, Grants, Banks, Venture Funds, Corporate and Private Investment. 3 Credit Hours.

In this course you will get out of the classroom and pitch a source (or sources) in order to find funding for your (or your team's) business idea. Ultimately, every pitch requires a feasible business idea but whether you head to Kickstarter to produce a crowdfunding video pitch, present your business plan to a bank, apply for a government grant, present to the powers-that-be inside an existing organization, or pitch to the angels and VC investors that will be invited as guests to the class, will depend on the type of business idea you have. This course discusses a range of equity and non-equity financing options available to organizations today. One of the biggest problems for Temple entrepreneurs is financing their ideas--although securing funding is always difficult, this course helps you appreciate several options you have and the implications for each. A special focus will be paid to the investment decision (i.e., what does it take to persuade an investor to part with their hard earned money) and students will gain insights into factors that influence the viability and financial health of a business as well as the steps that can be taken to increase venture valuation.

NOTE: Most students that take this course should enter having already assessed the viability of their idea for a new venture. We recommend that students take both an 'Entrepreneurial Thinking' (e.g. SGM 3501, 0827, 5117) and 'Entrepreneurial Management' (e.g. SGM 3503, 3001, 5187) course prior to taking SGM 3521. Students who do not meet this criteria may be required to complete additional supplementary work and may want to contact the professor to find out if they are sufficiently prepared to take this course. Entrepreneurship majors may want to consider taking SGM 3521 at the same time or even after SGM 4596.

Repeatability: This course may not be repeated for additional credits.

SGM 3580. Special Topics - Strategic Management. 3 Credit Hours.

Special topics in current developments in the field of general and strategic management.

College Restrictions: Must be enrolled in one of the following Colleges: Business & Mngmnt, Fox School

Repeatability: This course may be repeated for additional credit..

SGM 3582. Independent Study. 3 Credit Hours.

Readings and/or papers under supervision of a faculty member.

College Restrictions: Must be enrolled in one of the following Colleges: Business & Mngmnt, Fox School

Repeatability: This course may be repeated for additional credit..

SGM 3585. Incubator Internship: Contribute, Connect and Learn as a Part of the Entrepreneurial Ecosystem. 3 Credit Hours.

Accelerators and incubators have proven to be quite successful at launching and enabling successful new ventures. These programs help organizations move through multiple milestones and stages, constantly evaluating the success and prospects for the venture, and recommend pivots or changes in the core concept as necessary. This process requires support personnel with a huge range of experience - from business students to work on marketing plans and business models, to engineers and computer programmers to help build prototypes, to law / legal studies students to help assess IP and other legal issues related to incorporation, to media and communication students to generate press or help create videos and webpages for crowdfunding campaigns. In this internship students will be placed in one of these accelerators/incubators so that they can leverage their expertise, gain experience (and a portfolio) working with various new ventures, enhance their networks, and learn what makes these ventures succeed vs. fail. Accelerator/incubator options include those that help Temple students, those that assist with technology commercialization, those that focus on small businesses in North Philly, those focused on app-based companies, and many more both within Temple and elsewhere in the region or around the country / world. Note: Please check http://iei.temple.edu/internships or email: entrepreneurial-internships@temple.edu with questions or for more information (students must have their internship arranged and complete necessary paperwork before the first week of class or they will be dropped from the course).

Repeatability: This course may be repeated for additional credit..

SGM 3682. Independent Study. 3 Credit Hours.

Readings and/or papers under supervision of a faculty member.

College Restrictions: Must be enrolled in one of the following Colleges: Business & Mngmnt, Fox School

Repeatability: This course may be repeated for additional credit..

SGM 3685. New Venture Internship: Learning to be a High-Value Employee, Manager, or Founder. 3 Credit Hours.

During this semester long course, students will work in an entrepreneurial new venture on a specific high-value project (internships are 100 hours). In parallel to the internship, students will be working with the course faculty in one-on-one, team, and group sessions as they learn how to manage a project. Emphasis is placed on helping students understand how they create value for the organization they are working with while making sure they learn the most from the experience themselves. The Entrepreneurship program typically has a number of internships available or students are welcome to come to the course with an internship opportunity in mind. We strongly recommend that students take the opportunity to reach out to companies and organizations that they really want to work in. The best internships are typically with smaller, high-growth entrepreneurial companies and organizations - not with large, traditional organizations (and not with family or friends).

NOTE: Please check http://iei.temple.edu/internships for more information.

Repeatability: This course may be repeated for additional credit..

SGM 4596. Strategic Planning: The Business Plan as a Strategic Tool for Existing Businesses and Entrepreneurs. 3 Credit Hours.

The business plan (BP) is frequently misunderstood and assumed to be most relevant when entrepreneurs seek external funding. In actuality, the BP simply encourages entrepreneurs and managers alike to invest some thought, some time, and some ink before they risk a great deal more time, resources, and money launching an ill-conceived new venture. In addition, the BP is frequently underappreciated as a vital instrument for existing businesses. Senior managers often evaluate a potential departure from existing business models by engaging multiple internal stakeholders, hiring consultants, benchmarking and establishing milestones--as momentum builds the process takes on a life of its own. Ultimately, a great deal could have been saved if a BP had been created from the start. This course teaches students a very practical skill--the know-how to fully develop and flesh-out an innovative new business model via a business plan. In addition, all students will present their ideas to experienced entrepreneurs for feedback and have the opportunity to submit their BP to the Be Your Own Boss Bowl (BYOBB) competition for a chance to win $125k+.

Field of Study Restrictions: Must be enrolled in one of the following Fields of study: Accounting, Actuarial Science, Business Management, Economics, Entrprnrship & Innovation Mgt, Entrepreneurship, Finance, Financial Planning, Human Resource Management, International Business, Law & Business, Legal Studies, Management Information Systems, Marketing, Real Estate, Risk Management and Insurance, Supply Chain Management, Statistical Sci + Data Analyt, Undeclared-Business & Mngt
College Restrictions: Must be enrolled in one of the following Colleges: Business & Mngmnt, Fox School

Course Attributes: WI

Repeatability: This course may not be repeated for additional credits

Pre-requisites:
(SGM 3501|Minimum Grade of C-|May not be taken concurrently)
AND (SGM 3503|Minimum Grade of C-|May not be taken concurrently).