Description
This criteria in regard to certificate in entrepreneurship college of businessand management management department.
Graduate Certificate in Entrepreneurship
College of Businessand Management
Management Department
Introduction
According to Kauffman Foundation, the apex organization furthering entrepreneurship
education and research, there are compelling reasons as to why Entrepreneurship Belongs in
College
1
. "First, entrepreneurship is critical to success in the contemporary global economy.
Second, entrepreneurship is already an expanding area of American college learning. Third,
through innovation and commercialization, entrepreneurship is becoming a basic part of what
universities themselves do. Fourth, entrepreneurship achieves key goals of a quality American
higher undergraduate [and graduate] education. To neglect entrepreneurship distances
university learning from the world it is supposed to help students learn to understand."
Consequently, leading Universities in the US, in addition to incorporating entrepreneurship
curricular offerings in undergraduate business as well as general education programs, are also
offering graduate courses at the MBA level in entrepreneurship.
Purpose of Certificate:
The purpose of the Certificate in Entrepreneurship is to provide students, small business
owners and managers of organizations with knowledge of starting up new businesses, creation
and discovery of opportunities. This is in line with the mission of CBM to "offer business
programs and education based on market needs, which prepare traditional and nontraditional
students for careers and/or advancement, in corporate, government, and nonprofit
organizations regionally and increasingly nationally and internationally". This certificate
program creates an opportunity for CBM to attract small business owners, aspiring
entrepreneurs as well as family businesses to our curricular offerings. Because current business
owners or individuals who are interested in starting up their own businesses may not be
interested in a full-fledged graduate course of study, such as the MBA or MS in Information
Systems, a graduate certificate program is an appropriate avenue.
In addition to potential students from Illinois, this certificate program would provide a great
opportunity to attract international students (for instance, ChinaL who may be interested in
learning about the tools and techniques of creating opportunities, bootstrapping resources,
developing business plans and understanding the unique management challenges of small
businesses as well as administering the needs of small businesses and entrepreneurs from the
perspective of Small Business Administration (SBA)or Small & Medium Sizeenterprise (SME)
administration.
Occupational and/or student demand
Challenging economic environment and low prospects for jobs in the organized sector provide
opportunities for entrepreneurial pursuits. An emphasis on small businesses and start-ups will
help add to the recovery of U.S.economy. The Kauffman Foundation of Entrepreneurship
routinely publishes research reports on the importance of entrepreneurial ventures including
small businesses in relation to the amount of employment generated by new ventures. Further
data can also be obtained from the U.S.Census Bureau available at its website at
(http://webserver03.ces.census.gov/index.php/). According to the Business Dynamics Statistics,
in the State of Illinois approximately 5.25 to 6.72% of the employment is accounted for by
young firms (including start ups). Although this percentage is lower than the states in the west
coast and the east coast, the report is optimistic regarding the outlook of new ventures in the
Midwest. In addition the Springfield Chamber of Commerce has been growing in its
membership and influence over the last 3 years through its Q5 initiative to help fledgling
businesses as well as innovation in Springfield that is helping generate employment.
Relation to degree programs
The three courses that make up this certificate will also serve as elective courses for the Master
of Business Administration and will be offered on an as-needed basis. Because the courses
offered through this certificate program count towards electives, there is a significant potential
to attract certificate seeking students to obtain admission to the MBA degree program.
Course Delivery Format
To better serve the students who are not interested in pursuing a graduate degree (MBA), we
will offer the courses in both on-ground (face to face) as well as blended formats.
Staffing and resource requirements
The implementation of this certificate requires the development of three newcourses.Thesecourses
are part of the mainstreamacademia in Management and havewide support interms of development
anddelivery in most businessschoolsacrossthe country. CBMandthe Department of Management
havethe resourcesto develop the newcertificate coursesandthe Department faculty havethe
expertise in Entrepreneurship, necessaryto create the newcourses. It isexpectedthat these courses
andthe certificate programs will becomeself supporting over time. Inaddition to newstudent
enrollments for the certificate programs, these newcourseswill bedelivered andavailable aselective
coursesfor students enrolled inthe MBA programand maybeavailableto students enrolled inthe
Liberal and Integrative Studies Masters program. Inyears past, Entrepreneurship related courseshave
beenone of the most requested programs bystudents. Thus, CBMwill not beconstrained to find
appropriate qualified faculty to deliver these courses.
Details of the proposed certificate program are presented below.
Required Courses
BUS501- Business Perspectives
MGT 550 - Entrepreneurship
MGT 555 - Small Business Management & Family Business
MGT 556 - Entrepreneurial Finance
TOTAL CREDITHOURS
3 sem hrs
3 sem hrs
3 semhrs
3 semhrs
12 sem hrs
MGT SSO-Entrepreneurship
This course focuses on how opportunities are created, discovered and recognized. Students are
introduced to the concept of "entrepreneurial thinking" and entrepreneurial decision making in both
pre-venture stages and also in established firms to build a foundation of study in the area of
entrepreneurship.
Prerequisite: BUSSOl
MGT SSS - Small Business & Family Business Management
This course explores the role of small business and family businesses (including franchising) in the
economy. Topics include distinctive characteristics of managing small business, issues in marketing,
finance and sustaining the growth of small business, unique characteristics of family businesses, family
business succession and nurturing entrepreneurship beyond the first generation.
Prerequisite: BUSSOl
MGT SSG - Entrepreneurial Finance
This course focuses on the financing of new ventures beginning from the start-up stage to IPOstage.
Emphasis is placed on the choice of financing to the entrepreneur in addition to the details of venture
capital financing from the perspective of venture capitalists. Topics include working capital and cash
flow projections, valuation methods, risk adoption and risk dispersion.
Prerequisite: BUSSOl
MGT 550 -Entrepreneurship
Thiscoursefocuses on howopportunities are created, discoveredand recognized. Students are
introduced to the concept of "entrepreneurial thinking" andentrepreneurial decision makingin both
pre-venture stagesandalsoin establishedfirms to build afoundation of study inthe areaof
entrepreneurship.
Prerequisite: BUSSOl
Learning objectives/Outcomes
• Introduction to opportunity creation, discovery of opportunities and exploitation of
opportunities.
• Establish an understanding of theoretical frameworks in entrepreneurship with an
emphasis of understanding the difference between entrepreneurial thinking and
managerial thinking.
• Understand the essential of entrepreneurial decision making in both pre-venture stages
and within established firms (Intrapreneurship).
• Develop skills to enhance creativity, innovation, lateral thinking, bricolage,
communication and social skills as well as industry analysis, feasibility analysis, financing
options, competitive advantage of the new venture and development of a comprehensive
business plan for launching and growing a new business.
• Develop an entrepreneurial passion as well as understanding the overall entrepreneurial
process of innovation, and new venture creation.
• Provide an experiential opportunity (practicum or case method) to take an idea and
develop it into a new venture.
Pedagogy
The above learning outcomes can be achieved through a combination of
• Lectures
• Casestudies
• Practical case- Learning from an entrepreneur
• Guest speakers
• Developing and assessing business plans
Assessment
Exams, quizzes, case analyses, business plan development
Suggested reading materials / text(s)
• Robert Baron & Scott Shane, Entrepreneurship - A Process Perspective; Thompson
Publishing
• Donald Kuratko & Harold Welsch, Strategic Entrepreneurial Growth; Thompson Publishing
• Entrepreneur Magazine
MGT 555 - Small Business & Family Business Management
This courseexplores the role of small businessandfamily businesses(including franchising) inthe
economy. Topics include distinctive characteristics of managingsmall business,issuesin marketing,
finance andsustainingthe growth of small business,unique characteristics of family businesses,family
businesssuccessionand nurturing entrepreneurship beyondthe first generation.
Prerequisite: BUSSOl
• Develop an understanding of the role of small business in the U.S.and Global economy
• Understand the core elements of franchising - agrowing small business in USA
• Develop an appreciation for the distinctive characteristics of managing small business -
Issues in the functional areas of marketing, finance, operations and Human resources.
• Understand the unique characteristics of family business - issues related to succession
and nurturing entrepreneurship beyond the first generation and raising entrepreneurial
families.
The above learning outcomes can be achieved through a combination of
• Lectures
• Casestudies
• Guest speakers - Local small business
Assessment
Exams, quizzes, case analyses, class discussion and practical observation of small business
operations.
J ustin Longenecker, Carlos Moore & William Petty, Small Business Management: An
Entrepreneurial Emphasis.
MGT 556 - Entrepreneurial Finance
This course focuses on the financing of new ventures beginning from the start-up stage to IPOstage.
Emphasis is placed on the choice of financing to the entrepreneur in addition to the details of venture
capital financing from the perspective of venture capitalists. Topics include working capital and cash
flow projections, valuation methods, risk adoption and risk dispersion.
Prerequisite: BUSSOl
Understand the process in which new businesses are created.
Understand the means of financing new ventures beginning from the start-up stage to IPOstage with an
emphasis on the choice of financing aimed at creating value to the entrepreneur.
Understand the details of venture capital financing from the perspective of venture capitalists.
Develop skills related to working capital and cash flow projections, valuation methods, risk adoption and
risk dispersion.
Develop an appreciation for topics related to growth such as scaling, reputation, and legitimacy
acquisition of new ventures.
Develop ability to analyze financial statements.
Gain an understanding of the fundamental principles of financial management as applied to new
ventures.
Learn valuation techniques to estimate the value of new ventures, including the due diligence process
used by Yes.
The above learning outcomes can be achieved through a combination of
• Lectures
• Casestudies
• Guest speakers - Local small business
Assessment
Exams, quizzes, case analyses, class discussion and practical observation of small business
operations.
doc_224704325.pdf
This criteria in regard to certificate in entrepreneurship college of businessand management management department.
Graduate Certificate in Entrepreneurship
College of Businessand Management
Management Department
Introduction
According to Kauffman Foundation, the apex organization furthering entrepreneurship
education and research, there are compelling reasons as to why Entrepreneurship Belongs in
College
1
. "First, entrepreneurship is critical to success in the contemporary global economy.
Second, entrepreneurship is already an expanding area of American college learning. Third,
through innovation and commercialization, entrepreneurship is becoming a basic part of what
universities themselves do. Fourth, entrepreneurship achieves key goals of a quality American
higher undergraduate [and graduate] education. To neglect entrepreneurship distances
university learning from the world it is supposed to help students learn to understand."
Consequently, leading Universities in the US, in addition to incorporating entrepreneurship
curricular offerings in undergraduate business as well as general education programs, are also
offering graduate courses at the MBA level in entrepreneurship.
Purpose of Certificate:
The purpose of the Certificate in Entrepreneurship is to provide students, small business
owners and managers of organizations with knowledge of starting up new businesses, creation
and discovery of opportunities. This is in line with the mission of CBM to "offer business
programs and education based on market needs, which prepare traditional and nontraditional
students for careers and/or advancement, in corporate, government, and nonprofit
organizations regionally and increasingly nationally and internationally". This certificate
program creates an opportunity for CBM to attract small business owners, aspiring
entrepreneurs as well as family businesses to our curricular offerings. Because current business
owners or individuals who are interested in starting up their own businesses may not be
interested in a full-fledged graduate course of study, such as the MBA or MS in Information
Systems, a graduate certificate program is an appropriate avenue.
In addition to potential students from Illinois, this certificate program would provide a great
opportunity to attract international students (for instance, ChinaL who may be interested in
learning about the tools and techniques of creating opportunities, bootstrapping resources,
developing business plans and understanding the unique management challenges of small
businesses as well as administering the needs of small businesses and entrepreneurs from the
perspective of Small Business Administration (SBA)or Small & Medium Sizeenterprise (SME)
administration.
Occupational and/or student demand
Challenging economic environment and low prospects for jobs in the organized sector provide
opportunities for entrepreneurial pursuits. An emphasis on small businesses and start-ups will
help add to the recovery of U.S.economy. The Kauffman Foundation of Entrepreneurship
routinely publishes research reports on the importance of entrepreneurial ventures including
small businesses in relation to the amount of employment generated by new ventures. Further
data can also be obtained from the U.S.Census Bureau available at its website at
(http://webserver03.ces.census.gov/index.php/). According to the Business Dynamics Statistics,
in the State of Illinois approximately 5.25 to 6.72% of the employment is accounted for by
young firms (including start ups). Although this percentage is lower than the states in the west
coast and the east coast, the report is optimistic regarding the outlook of new ventures in the
Midwest. In addition the Springfield Chamber of Commerce has been growing in its
membership and influence over the last 3 years through its Q5 initiative to help fledgling
businesses as well as innovation in Springfield that is helping generate employment.
Relation to degree programs
The three courses that make up this certificate will also serve as elective courses for the Master
of Business Administration and will be offered on an as-needed basis. Because the courses
offered through this certificate program count towards electives, there is a significant potential
to attract certificate seeking students to obtain admission to the MBA degree program.
Course Delivery Format
To better serve the students who are not interested in pursuing a graduate degree (MBA), we
will offer the courses in both on-ground (face to face) as well as blended formats.
Staffing and resource requirements
The implementation of this certificate requires the development of three newcourses.Thesecourses
are part of the mainstreamacademia in Management and havewide support interms of development
anddelivery in most businessschoolsacrossthe country. CBMandthe Department of Management
havethe resourcesto develop the newcertificate coursesandthe Department faculty havethe
expertise in Entrepreneurship, necessaryto create the newcourses. It isexpectedthat these courses
andthe certificate programs will becomeself supporting over time. Inaddition to newstudent
enrollments for the certificate programs, these newcourseswill bedelivered andavailable aselective
coursesfor students enrolled inthe MBA programand maybeavailableto students enrolled inthe
Liberal and Integrative Studies Masters program. Inyears past, Entrepreneurship related courseshave
beenone of the most requested programs bystudents. Thus, CBMwill not beconstrained to find
appropriate qualified faculty to deliver these courses.
Details of the proposed certificate program are presented below.
Required Courses
BUS501- Business Perspectives
MGT 550 - Entrepreneurship
MGT 555 - Small Business Management & Family Business
MGT 556 - Entrepreneurial Finance
TOTAL CREDITHOURS
3 sem hrs
3 sem hrs
3 semhrs
3 semhrs
12 sem hrs
MGT SSO-Entrepreneurship
This course focuses on how opportunities are created, discovered and recognized. Students are
introduced to the concept of "entrepreneurial thinking" and entrepreneurial decision making in both
pre-venture stages and also in established firms to build a foundation of study in the area of
entrepreneurship.
Prerequisite: BUSSOl
MGT SSS - Small Business & Family Business Management
This course explores the role of small business and family businesses (including franchising) in the
economy. Topics include distinctive characteristics of managing small business, issues in marketing,
finance and sustaining the growth of small business, unique characteristics of family businesses, family
business succession and nurturing entrepreneurship beyond the first generation.
Prerequisite: BUSSOl
MGT SSG - Entrepreneurial Finance
This course focuses on the financing of new ventures beginning from the start-up stage to IPOstage.
Emphasis is placed on the choice of financing to the entrepreneur in addition to the details of venture
capital financing from the perspective of venture capitalists. Topics include working capital and cash
flow projections, valuation methods, risk adoption and risk dispersion.
Prerequisite: BUSSOl
MGT 550 -Entrepreneurship
Thiscoursefocuses on howopportunities are created, discoveredand recognized. Students are
introduced to the concept of "entrepreneurial thinking" andentrepreneurial decision makingin both
pre-venture stagesandalsoin establishedfirms to build afoundation of study inthe areaof
entrepreneurship.
Prerequisite: BUSSOl
Learning objectives/Outcomes
• Introduction to opportunity creation, discovery of opportunities and exploitation of
opportunities.
• Establish an understanding of theoretical frameworks in entrepreneurship with an
emphasis of understanding the difference between entrepreneurial thinking and
managerial thinking.
• Understand the essential of entrepreneurial decision making in both pre-venture stages
and within established firms (Intrapreneurship).
• Develop skills to enhance creativity, innovation, lateral thinking, bricolage,
communication and social skills as well as industry analysis, feasibility analysis, financing
options, competitive advantage of the new venture and development of a comprehensive
business plan for launching and growing a new business.
• Develop an entrepreneurial passion as well as understanding the overall entrepreneurial
process of innovation, and new venture creation.
• Provide an experiential opportunity (practicum or case method) to take an idea and
develop it into a new venture.
Pedagogy
The above learning outcomes can be achieved through a combination of
• Lectures
• Casestudies
• Practical case- Learning from an entrepreneur
• Guest speakers
• Developing and assessing business plans
Assessment
Exams, quizzes, case analyses, business plan development
Suggested reading materials / text(s)
• Robert Baron & Scott Shane, Entrepreneurship - A Process Perspective; Thompson
Publishing
• Donald Kuratko & Harold Welsch, Strategic Entrepreneurial Growth; Thompson Publishing
• Entrepreneur Magazine
MGT 555 - Small Business & Family Business Management
This courseexplores the role of small businessandfamily businesses(including franchising) inthe
economy. Topics include distinctive characteristics of managingsmall business,issuesin marketing,
finance andsustainingthe growth of small business,unique characteristics of family businesses,family
businesssuccessionand nurturing entrepreneurship beyondthe first generation.
Prerequisite: BUSSOl
• Develop an understanding of the role of small business in the U.S.and Global economy
• Understand the core elements of franchising - agrowing small business in USA
• Develop an appreciation for the distinctive characteristics of managing small business -
Issues in the functional areas of marketing, finance, operations and Human resources.
• Understand the unique characteristics of family business - issues related to succession
and nurturing entrepreneurship beyond the first generation and raising entrepreneurial
families.
The above learning outcomes can be achieved through a combination of
• Lectures
• Casestudies
• Guest speakers - Local small business
Assessment
Exams, quizzes, case analyses, class discussion and practical observation of small business
operations.
J ustin Longenecker, Carlos Moore & William Petty, Small Business Management: An
Entrepreneurial Emphasis.
MGT 556 - Entrepreneurial Finance
This course focuses on the financing of new ventures beginning from the start-up stage to IPOstage.
Emphasis is placed on the choice of financing to the entrepreneur in addition to the details of venture
capital financing from the perspective of venture capitalists. Topics include working capital and cash
flow projections, valuation methods, risk adoption and risk dispersion.
Prerequisite: BUSSOl
Understand the process in which new businesses are created.
Understand the means of financing new ventures beginning from the start-up stage to IPOstage with an
emphasis on the choice of financing aimed at creating value to the entrepreneur.
Understand the details of venture capital financing from the perspective of venture capitalists.
Develop skills related to working capital and cash flow projections, valuation methods, risk adoption and
risk dispersion.
Develop an appreciation for topics related to growth such as scaling, reputation, and legitimacy
acquisition of new ventures.
Develop ability to analyze financial statements.
Gain an understanding of the fundamental principles of financial management as applied to new
ventures.
Learn valuation techniques to estimate the value of new ventures, including the due diligence process
used by Yes.
The above learning outcomes can be achieved through a combination of
• Lectures
• Casestudies
• Guest speakers - Local small business
Assessment
Exams, quizzes, case analyses, class discussion and practical observation of small business
operations.
doc_224704325.pdf