Professors: J. C. Soper, D. A. Dukes; J. J. Schmidt (Interim Director), D. P. Mascotti; Associate Professors: M. P. Lynn, G. E. Porter, E. A. Stiles
Specifically designed for students from all majors, the minor in entrepreneurship starts with idea development and creativity that help them be more effective in either for-profit or nonprofit enterprises.
Examples of entrepreneurial enterprises are: Habitat for Humanity, Kaboom, Google, E-Bay, Zappos, and Twitter. Future entrepreneurs pursue majors in either the arts, humanities, social sciences, natural sciences, or business. A national study found that 75% of entrepreneurs focused their college studies in fields outside of business or engineering.
The Entrepreneurship minor will support any major. Required course work, detailed below, depends on whether a student selects a major in the College of Arts & Sciences or the Boler School of Business. Faculty from both the College of Arts & Sciences and the Boler School of Business teach the courses in the minor, which is directed by an interdisciplinary faculty committee chaired by the John J. Kahl Sr. Chair in Entrepreneurship. Participation in the minor puts students into contact with a team that will help develop their skills as entrepreneurs.
The Arts & Sciences track: ER 101, 102, 203, 304, 305*, 306*, and 480, plus one approved ethics course (21 hours).
*Open only to majors in the College of Arts & Sciences
The Business track: ER 101, 102, 203 (or MN 364), ER 304, FN 312, MK 301, and ER 480, plus PL 311 (21 hours).
101. CREATIVITY, INVENTION, AND INNOVATION 1 cr. The creative process: What it is, how to improve it, how to work with it. Using a project-focused approach, students will learn about creative thinking as it applies to the development of innovations and inventions in the arts, sciences, and business.
102. IDEA DEVELOPMENT 2 cr. Prerequisite: ER 101. Alternative representations of the opportunity recognition process. Students will learn how to move from an idea as a vague concept to an innovation as a well-designed idea.
203. INTRODUCTION TO ENTREPRENEURSHIP 3 cr. Prerequisites: ER 101 and 102. Study of entrepreneurship and its role in new venture creation, as well as its impact on economic growth and development. Explores the functional areas of business, including project development, production and operations, marketing and sales, finance and accounting.
304. SOCIAL ENTREPRENEURSHIP 3 cr. Prerequisite: ER 101, 102, and 203 or MN 364. Applies the principles examined in ER 203 to social enterprises. Introduces the meaning and importance of social entrepreneurship in the modern economy and demonstrates how entrepreneurial orientation can assist in the attainment of nonprofit and social objectives.
305. ACCOUNTING & FINANCE FOR ENTREPRENEURS 3 cr. Prerequisite: ER 203. The basic role of accounting in an organization. Analysis and interpretation of financial statements, tax data, and project planning and assessment. Also, concepts related to making financial decisions: the cost of capital, time value of money, and the sources of, and approaches to raising, entrepreneurial capital. (For Arts and Sciences students.)
306. ENTREPRENEURIAL MARKETING & SALES 3 cr. Prerequisite: ER 203. Introduction to marketing, especially the marketing needs of entrepreneurial enterprises. Topics include distribution, pricing, promotion, product decisions and strategies, the sales process, and management of ethical problems. (For Arts and Sciences Students.)
480. ENTREPRENEURSHIP FIELD EXPERIENCE 3 cr. Prerequisite: completion of at least 12 hours of course work in the minor, including ER 305 or 306 (FN 312 or MK 301 for students on the Business track). Students, as members of a consulting team, visit and analyze a Cleveland-area social enterprise or business firm and complete a total field analysis of the entity. This requirement may also be satisfied through an approved internship under the guidance of a member of the Entrepreneurship Curriculum Committee or through starting a business in the hatchery.