Description
Over the years the courses and programs of study sponsored by the Management Department in the Huntsman School of Business have proliferated through mergers with other departments and programs, often out of necessity rather than by design.
19
Department of Management
Jon M. Huntsman School of Business
Utah State University
Proposed Curriculum Revisions
The Need and Purpose
Over the years the courses and programs of study sponsored by the Management Department in the
Huntsman School of Business have proliferated through mergers with other departments and programs,
often out of necessity rather than by design. The result has been the emergence of a collection of seven
majors that in some cases are outdated, and as a group have become increasingly difficult to deliver with
existing faculty resources.
The Management Department faculty has known that its majors needed critical review and restructuring to
prepare its graduates for career paths in a job market that has changed significantly. In addition, as a
Land Grant Institution, the Management Department has a responsibility to deliver high quality programs
of study throughout the State of Utah. R312-8 states that the Management Department has a statewide
responsibility to deliver business education. The proposed changes will make every degree offered by the
Management Department scalable to the entire State of Utah with the same academic curriculum students
would receive it they were in a Utah State University on-campus classroom.
The proposed curricular revisions will provide the course content necessary to prepare graduates for
today?s job markets. As will be described, the design change eliminates four majors and concentrates
faculty resources and assets on three majors.
Management Department Curriculum
The entire Management Department faculty and staff, including Regional Campus and Distance Education
faculty, have worked together to restructure the curriculum, focusing upon functional specializations,
cutting edge pedagogy and design excellence. The objectives the Department sought to achieve in the
redesign included the following:
1. Focus on building brands and degrees of distinction that would bring state and national
recognition for graduates.
2. Build degrees that would best prepare students for effective job market entry.
3. Ensure that the content in the courses and degrees offered is complete, current, and rigorous.
4. Optimize human capital, resources, and assets of the department.
5. Prepare students for the realities of not only the current business environment but also equip
students for challenges of the future.
The Management Department has restructured its majors and upon approval will begin to implement the
curriculum design in the fall of 2012.
20
The Management Department will offer programs of study in the following three existing majors:
1. Business Administration. The business administration major prepares students for positions such
as Business Manager, Business Analyst, Benefits Administrator, Account Executive, Department
Administrator and Entry Level Professional Positions. The redesigned major requires 69 credits
(40 credits of Huntsman School of Business Acumen, 29 credits focusing upon the Business
Administration discipline).
2. International Business. Approximately 60% of USU business student have foreign language
competency. The international business major develops the skills and knowledge needed to
provide leadership in the global marketplace. This requires not only being able to manage
customers, products, and processes in global supply chains, but also understanding the social,
political, and cultural dimensions of business in an international environment. The restructured
International Business major requires 70 credits (40 credits of Huntsman School of Business
Acumen and 30 credits focusing upon the international business discipline).
3. Marketing. The marketing major was completely restructured to ensure that USU graduates have
the skills to succeed in a marketing career. The major ensures that graduates are able to perform
rigorous market analysis, write marketing plans, lead sales teams and accounts, build strong
brands and position products effectively in competitive market places. The redesigned major
requires 67 credits (40 credits of Huntsman School of Business Acumen and 27 credits focusing
upon the marketing discipline).
Department of Management has several minor degrees that are proposed, pending or currently exist. The
Management Department faculty spoke with key stakeholders including future employers and industry
thought leaders and determined that the minors listed below; along with the revised management majors
prepare Utah State University students to succeed in today?s job market and help them achieve their
career goals.
1. Entrepreneurship (proposed minor, attachment A)
2. Hospitality and Tourism Management (proposed minor, attachment B)
3. Human Resource Management
4. International Business
5. Management
6. Operations Management
The Management Department faculty proposes to eliminate four majors. The elimination of the four
majors allows better asset utilization and improved focus on areas in which distinction can be achieved by
concentrating on the three majors described above. The detailed justification for the elimination of each
degree can be found in the attachments. The degrees proposed for elimination include the following:
1. Human Resources (attachment C)
2. Operations Management (attachment D)
3. Entrepreneurship (attachment A)
4. Bachelor of Business (BUS, attachment E)
21
Implementation of the Proposed Curriculum
Students who have declared Human Resources, Operations Management, Entrepreneurship or BUS
majors and are currently enrolled in those programs of study will be allowed to complete their degree.
They will be phased out over a three-year period as described below. By 2015 all students enrolled in the
Human Resources, Operations Management, Entrepreneurship and/or Bachelor of Business degrees will
have graduated and the three, restructured majors will be delivered by the Management Department.
2012:
Incoming freshman will declare one of the three Management Department majors (Business
Administration, International Business or Marketing) and enroll in University General Education courses
during their first year of studies.
Sophomores will enroll in the Jon M. Huntsman School of Business Acumen Courses (courses are scaled
for RCDE students)
Juniors will complete Jon M. Huntsman School of Business Acumen Courses and begin Major courses in
Business Administration, International Business and Marketing or in one of the discontinued majors that
includes Human Resources, Operations Management, Entrepreneurship and BUS majors.
Seniors will complete major coursework in all degrees that may include the discontinued degrees.
2013:
Sophomores will enroll in the Jon M. Huntsman School of Business Acumen Courses (courses are scaled
for RCDE students)
Juniors will complete Jon M. Huntsman School of Business Acumen Courses and begin Major courses in
Business Administration, International Business and Marketing or in one of the discontinued majors that
includes Human Resources, Operations Management, Entrepreneurship and BUS majors.
Seniors will complete major coursework in all degrees that may include the discontinued degrees.
2014:
Juniors will complete Jon M. Huntsman School of Business Acumen Courses and begin Major courses in
Business Administration, International Business and Marketing (Major courses will be scaled for RCED
students).
Seniors will complete major coursework in all degrees that may include the discontinued degrees.
2015:
Seniors will complete course requirements for degrees in Business Administration, International Business
and Marketing (all courses will be scaled for RCED students). Beginning the fall 2015 all students will be
enrolled in one of the three Management Department Majors and/or the minor offerings. All discontinued
degrees will have been phased out.
22
Attachment A
Section I: Request
The Management Department in the Jon M. Huntsman School of Business at Utah State University
requests to discontinue the current Major in Entrepreneurship and replace it with an Entrepreneurship
Minor.
The impact of cancelling the Entrepreneurship Major for both Logan-campus and Regional Campus and
Distance Education (RCDE) students will be minimal and the new Minor in Entrepreneurship has the
potential of achieving positive, statewide academic results. The new minor includes all of the courses
necessary to ensure that all USU students have the opportunity to master the theory, concepts, models,
and competencies required to design and launch new ventures: social, not-for-profit, or for profit.
Students currently majoring in entrepreneurship will be able to complete their degree as the department
phases out the degree over the next two years.
Section II: Need
The need for replacing the undergraduate Entrepreneurship Major with a minor is justified in terms of
student career paths and the results anticipated by the implementation of the new Entrepreneurship Minor
in its place. There exists an unmet need for entrepreneurship education that is accessible to all students
throughout the USU Logan campus and across the state. The current Entrepreneurship Major offered by
the Management Department requires a significant number of classes to acquire the necessary business
acumen to successfully design and launch a venture. Students in other colleges (e.g., science,
engineering, arts, agriculture, etc.) have difficulty fitting all of the necessary entrepreneurship classes
required in the major into their programs of study. Courses in the current Entrepreneurship Major are
offered at a time and in ways that exclude students both on campus and at RCDE locations. The
proposed minor overcomes these problems and better serves all USU students in terms of the course
structure, pedagogy, and the use of distance learning technologies.
The Net Impact of Dropping the Major
The only net impact of dropping the Entrepreneurship Major will be to those students who come to USU to
specifically study entrepreneurship. However, there are very few of these students and these students will
have the option of studying entrepreneurship as a minor combined with another major such as the
redesigned Business Administration Major. Department research has shown that the combination of a
Business Administration Major and an Entrepreneurship Minor would make a powerful difference in the job
market for students. This combination will also prepare them much better to launch a venture if that is
what they choose to do upon graduation. Those students already majoring in entrepreneurship will be
allowed to complete their major with no disruption in their studies.
Rationale and Goals for the Entrepreneurship Minor
The purpose of this proposal is to obtain approval to offer a unique, state-of-the-art sequence of two-credit
courses that will be required for students to achieve a minor in Entrepreneurship. In addition to offering
the courses during the fall and spring semesters, the sequence will be offered during the seven-week
23
summer semester that will accelerate entrepreneurial education for students. Students from throughout
the University and State will be able to complete the entire Entrepreneurship Minor during the seven-week,
summer program. Students with a minor in entrepreneurship combined with a major in business
administration can find employment in corporate areas of research and development, new product key
accounts, and launch turnaround management and strategic planning and execution. A minor in
entrepreneurship can be an asset to student?s careers because students enter the market with the
Business Administration Major along with the skills to identify opportunities and launch new ventures.
Organizations will value our graduates as entrepreneurs who can regenerate advantage for the
organization.
The sequence of courses designed for the Entrepreneurship Minor will follow the actual process and steps
real-world entrepreneurs use to create successful new companies. It will consist of six, two-credit courses
totaling 12 credit hours. The seventh course will involve intensive one-on-one mentoring from various
faculty members and industry experts who will assist with the implementation of the business concepts
developed during the course. Once the student has reached the seventh course in the sequence, their
business concept is tightly focused and as a result, their instructional needs are best met through
individualized, one-on-one instruction and mentoring.
The courses offered will be fully developed by faculty members who currently participate in teaching the
courses of the soon to be discontinued Entrepreneurship Major. The courses that will make up the
Entrepreneurship Minor include the following:
MGT 3510: New Venture Fundamentals
Course Description:
This course is the first course in a series of entrepreneurship courses required for a minor. The
course is about innovation, opportunity recognition, and feasibility analysis. The course will teach
students how to gain industry knowledge, how to evaluate competitors, how to know their
customer?s needs both in terms of product attributes and internal value drivers, how to identify a
true opportunity and assess it, and finally how to build an effective business model around an
opportunity once found.
Justification:
A program of study in entrepreneurship must begin with a class that focuses on opportunity
recognition and the skills necessary to determine if the opportunity has a sound business model
worthy of going forward to the next stages of launching the venture. This class has value for more
than entrepreneurship students interested in launching a new enterprise (for profit or not-for-
profit). These are skills that every business leader should possess in today?s volatile, uncertain
business environment. This will be a class that other programs of study within the school of
business and throughout the university will find valuable. It will make USU students marketable.
MGT 3520: New Venture Management
Course Description:
Once an opportunity has been identified and its feasibility tested, entrepreneurs and business
managers need to have the skills to form the business entity. Research on the models, concepts,
and theory in this area is very well established in the venturing literature and will form the basis for
the course. This course teaches students how to assess the critical organizational resources and
competencies necessary to start the organization to take advantage of the opportunity. Students
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learn how to assess their personal skill set and identify their personal strengths and weaknesses,
their competency gaps. Students will learn how to engage a brain trust of mentors, find the right
partners, and build a leadership team that is required for a successful organizational launch.
Having the right management team has been shown to be one of the fundamental elements of a
business model that will help the organization start and thrive. In the process students learn
systems thinking for operational excellence.
Justification:
Research has demonstrated that having the correct skill set on the launch team determines
success of the organization. Venture capitalists, angel investors, banks, and corporate boards
consider a poor management team a „deal killer? when it comes to investing money in a new
opportunity. Students must understand these principles or their ideas will not get traction in the
market in terms of production, customer acquisition, investment and profitability. The theory
underlying these principles is well-established in the literature and principles taught will be
grounded on sound research.
Prerequisite: MGT 3510
MGT 3530: New Venture Marketing
Course Description:
This course teaches students how to develop and build the brand for the new enterprise.
Strategies for gaining customer intelligence are taught with particular attention to primary and
secondary marketing research. Effective low-cost marketing strategies are taught. Students are
taught how to use „the coin of the realm? to gain market presence for their ventures. Understanding
and implementing social media in the market and promotion of the opportunity will be learned in
the course, as well as the role of traditional media: print, radio, television. This course will use
well- established research in marketing, strategy, and psychology to support the tools, concepts,
and theory taught in the class.
Justification:
Too many people with an idea for a new enterprise have a “build it and they will come attitude.”
Unfortunately, most of these people fail. While the numbers vary somewhat based on the source,
it is generally agreed that 50 percent of all new businesses fail within five years and that 70
percent fail within ten years. If the venture fails in attracting customers it will fail. Students must
understand and master the principles taught in this class. As with other courses in this series,
these skills will make USU students highly desirable in the market and increase their probability of
success in launching their new businesses.
Prerequisite: MGT 3510
MGT 3540: New Venture Financing (already exists 4580)
Course Description:
This course provides overview of financial issues affecting entrepreneurial ventures. Emphasizes
finance skills needed to develop the financial section of a business plan, make practical financial
assessments of new business opportunities, and explore sources of new venture funding.
Students will learn how to evaluate resource requirements, mobilize non-financial resources,
develop strategies for bootstrapping, and explore options for funding with debt and equity. The
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theory and tools of deal valuation will also be taught. Students will also learn how to develop a
resource and funding strategy, as well as cash and risk management.
Justification:
Entrepreneurs and employees in an existing enterprise must learn the financial skills necessary to
launch their venture. Finance is more than simply a matter of “getting the money” to launch.
There are skills in how to approach and successfully work with the different sources of capital and
how to successfully manage the risks associated with each source and launch in general. While
money is absolutely necessary to launch, getting the capital with a poor financial plan will actually
harm the venture. This course is absolutely necessary to teach students effective financial
management with respect to starting a new enterprise.
Prerequisite: MGT 3510
MGT 3560: New Venture Planning (already exists 4880)
Course Description:
Theoretical and practical aspects of starting or buying a business are taught in this class. This
includes the development of a business plan, as well as conducting due diligence for buying a
business or extensive consulting with a start-up or growth business. Students learn that
entrepreneurial planning is an ongoing process that is centered upon organizational mission,
vision, values, and goals. As part of the instruction, students learn how to create an annual
execution plan and a Personal Placement Memorandum (PPM).
Justification:
The business plan has been called the ticket for admission to the investment processes and the
PPM is the key to getting the business plan in front of investors and top management. The plan
also forces the student to systematically consider all aspects of the venture from marketing to
operations and finance. Even where deals are bootstrapped and a full-blown plan is not
necessary for investors, it forces a rigorous analysis of the deal by the entrepreneur and brings
discipline to the launch. The skills taught in this class are rare and highly valued within existing
enterprises and fundamental to launching a new venture.
Prerequisite: MGT 3510, MGT 3520, MGT 3530, MGT 3540
MGT 3570: Social Venturing: New Venture Social Responsibility
Course Description:
This course focuses upon social enterprises including ventures with a social mission, non-
governmental-organizations (NGOs) and not-for-profits enterprises. Students learn about the
growing interest in social entrepreneurship and why serving a broader purpose makes sense.
Students learn how social venture business models differ from those of for-profit ventures. Theory
underlying social capital, economics, micro-venturing and philanthropy are taught in this course.
Networking, governance, compliance, and business ethics are all examined.
Prerequisite: MGT 3510
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Justification:
Perhaps one of the fastest growing streams of research and instruction around the world focuses
on social ventures. It has become a cornerstone for entrepreneurship education nationally. Most
new ventures have a “double-bottom line” including a profitable return for investors and some form
of beneficial externality for stakeholder groups. Research has demonstrated that a double bottom
line increases the probability of success for the venture. Additionally, the concepts taught in this
class reinforce the ethical and moral values central to the Huntsman School of Business and Utah
State University.
MGT 3580: New Venture Execution
Course Description:
This capstone course of the entrepreneurship program is about launching the venture and
students are assigned to various faculty and investment mentors. Mentors and students meet
regularly throughout the course while students work on executing issues in their business plans.
Mentors who are especially experienced in the specific industry of focus help students create
networks of advisors and help students solve problems with implementation.
Course Justification:
This course is the capstone course for the entrepreneurship program of study and incorporates
the highest levels of learning theory. By this stage, students have mastered the knowledge of
entrepreneurship and have demonstrated comprehension, application, and analysis as they have
worked through the various stages of launching a venture. As students actually go through the
execution of their new venture plan, they must evaluate and synthesize what they have learned as
they move into unfamiliar, uncertain environments. In short, there will be surprises. Having a
knowledgeable mentor to provide individualized guidance and instruction to the student instruction
is necessary. No two students in this class will face the same challenges. Individualized attention
and instruction is necessary. This is possible because of the network of mentors available to USU
students managed by the Huntsman School?s Center for Entrepreneurial Excellence.
Prerequisite: MGT 3560
The Huntsman School of Business has a strong clinical and tenure-track faculty in the field of
entrepreneurship. This group has extensive experience in new venture creation, business strategy,
organizational consulting, and research and teaching in entrepreneurship. The following individuals will
provide input in program design and may participate in the instruction and mentoring:
James Davis, Ph.D. – Head of the Management Department. Jim has published extensively in the
areas of entrepreneurship and business strategy, created and launched the Gigot Center for
Entrepreneurial Studies at the University of Notre Dame, and served as the John F. O?Shaughnessy
Chair of Family Enterprises.
Michael Glauser, Ph.D. – Executive Director of Entrepreneurial Programs. Mike has written and
published in the field of entrepreneurship, started several successful organizations, consulted with
numerous startup companies, and created the Institute for New Enterprise at Westminster College.
Ken Snyder, MBA – Executive Dean and Chief Administrative Officer. Ken is an entrepreneurial
leader of multiple successful start-up companies. He teaches courses in new venture creation,
planning, and marketing strategy.
27
David Herrmann, MBA – Executive in Residence. David has extensive experience developing new
ventures and teaching entrepreneurship. He created and manages the SEED program (Small
Enterprise Education and Development) in the Huntsman School of Business.
Dan Holland, Ph.D. – Assistant Professor of Entrepreneurship. Dan teaches entrepreneurship and
conducts research on entrepreneurial motivation and decision-making. He has 12 years of
experience working in various engineering, marketing, and management roles.
Christopher Reutzel, Ph.D. – Assistant Professor of Management. Chris conducts research in new
venture creation. He teaches courses in entrepreneurship, business strategy, and is developing a
course in social entrepreneurship.
Eric Schulz, MBA – Senior Lecturer and Co-Director of Strategic Marketing and Brand Management.
Eric has worked in marketing and brand management with some of the top consumer product
companies in the world – Procter & Gamble, Disney, and Coca-Cola. He teaches courses in product
marketing and brand management.
The long-term goal is to have a clearly defined sequence of courses that follows the process actual
entrepreneurs use to create successful business ventures. Students will be able to take these courses
during the school year in the traditional semester format or during the summer in the intensive accelerated
format outlined here. The summer format should be particularly attractive to non-business majors doing a
minor in entrepreneurship and community members who need help with the creation, launch and
development of their own company. This unique sequence of courses will appeal to three groups of
potential students from throughout the state: (1) business students who wish to add entrepreneurship as a
minor, (2) non-business students who want to minor in entrepreneurship, and (3) aspiring entrepreneurs
and small business owners from the community.
Section III: Institutional Impact
The proposed program of study should not affect enrollments in instructional programs offered by affiliated
departments or programs. Changing our Entrepreneurship Major to an Entrepreneurship Minor keeps the
current administrative structure in place and provides the resources and the faculty to deliver the program.
The design for the minor will be less invasive to other programs of study because the courses are offered
in two-credit, modular format. Students will be able to minor in Entrepreneurship without disrupting or
conflicting with their major programs of study.
The Entrepreneurship Major is currently offered on the Logan campus and throughout the state through
RCDE. The proposed minor will also be offered statewide. Again, the Huntsman School of Business has
the technology in place to deliver the program throughout the state. No additional equipment will be
required.
Section IV: Finances
Because the structure, resources, and finances are in place from the major and are simply shifting them to
a minor, no additional resources are necessary. The minor will be offered through on-line instruction to all
RCDE locations, economies of scale will be realized.
doc_772714762.pdf
Over the years the courses and programs of study sponsored by the Management Department in the Huntsman School of Business have proliferated through mergers with other departments and programs, often out of necessity rather than by design.
19
Department of Management
Jon M. Huntsman School of Business
Utah State University
Proposed Curriculum Revisions
The Need and Purpose
Over the years the courses and programs of study sponsored by the Management Department in the
Huntsman School of Business have proliferated through mergers with other departments and programs,
often out of necessity rather than by design. The result has been the emergence of a collection of seven
majors that in some cases are outdated, and as a group have become increasingly difficult to deliver with
existing faculty resources.
The Management Department faculty has known that its majors needed critical review and restructuring to
prepare its graduates for career paths in a job market that has changed significantly. In addition, as a
Land Grant Institution, the Management Department has a responsibility to deliver high quality programs
of study throughout the State of Utah. R312-8 states that the Management Department has a statewide
responsibility to deliver business education. The proposed changes will make every degree offered by the
Management Department scalable to the entire State of Utah with the same academic curriculum students
would receive it they were in a Utah State University on-campus classroom.
The proposed curricular revisions will provide the course content necessary to prepare graduates for
today?s job markets. As will be described, the design change eliminates four majors and concentrates
faculty resources and assets on three majors.
Management Department Curriculum
The entire Management Department faculty and staff, including Regional Campus and Distance Education
faculty, have worked together to restructure the curriculum, focusing upon functional specializations,
cutting edge pedagogy and design excellence. The objectives the Department sought to achieve in the
redesign included the following:
1. Focus on building brands and degrees of distinction that would bring state and national
recognition for graduates.
2. Build degrees that would best prepare students for effective job market entry.
3. Ensure that the content in the courses and degrees offered is complete, current, and rigorous.
4. Optimize human capital, resources, and assets of the department.
5. Prepare students for the realities of not only the current business environment but also equip
students for challenges of the future.
The Management Department has restructured its majors and upon approval will begin to implement the
curriculum design in the fall of 2012.
20
The Management Department will offer programs of study in the following three existing majors:
1. Business Administration. The business administration major prepares students for positions such
as Business Manager, Business Analyst, Benefits Administrator, Account Executive, Department
Administrator and Entry Level Professional Positions. The redesigned major requires 69 credits
(40 credits of Huntsman School of Business Acumen, 29 credits focusing upon the Business
Administration discipline).
2. International Business. Approximately 60% of USU business student have foreign language
competency. The international business major develops the skills and knowledge needed to
provide leadership in the global marketplace. This requires not only being able to manage
customers, products, and processes in global supply chains, but also understanding the social,
political, and cultural dimensions of business in an international environment. The restructured
International Business major requires 70 credits (40 credits of Huntsman School of Business
Acumen and 30 credits focusing upon the international business discipline).
3. Marketing. The marketing major was completely restructured to ensure that USU graduates have
the skills to succeed in a marketing career. The major ensures that graduates are able to perform
rigorous market analysis, write marketing plans, lead sales teams and accounts, build strong
brands and position products effectively in competitive market places. The redesigned major
requires 67 credits (40 credits of Huntsman School of Business Acumen and 27 credits focusing
upon the marketing discipline).
Department of Management has several minor degrees that are proposed, pending or currently exist. The
Management Department faculty spoke with key stakeholders including future employers and industry
thought leaders and determined that the minors listed below; along with the revised management majors
prepare Utah State University students to succeed in today?s job market and help them achieve their
career goals.
1. Entrepreneurship (proposed minor, attachment A)
2. Hospitality and Tourism Management (proposed minor, attachment B)
3. Human Resource Management
4. International Business
5. Management
6. Operations Management
The Management Department faculty proposes to eliminate four majors. The elimination of the four
majors allows better asset utilization and improved focus on areas in which distinction can be achieved by
concentrating on the three majors described above. The detailed justification for the elimination of each
degree can be found in the attachments. The degrees proposed for elimination include the following:
1. Human Resources (attachment C)
2. Operations Management (attachment D)
3. Entrepreneurship (attachment A)
4. Bachelor of Business (BUS, attachment E)
21
Implementation of the Proposed Curriculum
Students who have declared Human Resources, Operations Management, Entrepreneurship or BUS
majors and are currently enrolled in those programs of study will be allowed to complete their degree.
They will be phased out over a three-year period as described below. By 2015 all students enrolled in the
Human Resources, Operations Management, Entrepreneurship and/or Bachelor of Business degrees will
have graduated and the three, restructured majors will be delivered by the Management Department.
2012:
Incoming freshman will declare one of the three Management Department majors (Business
Administration, International Business or Marketing) and enroll in University General Education courses
during their first year of studies.
Sophomores will enroll in the Jon M. Huntsman School of Business Acumen Courses (courses are scaled
for RCDE students)
Juniors will complete Jon M. Huntsman School of Business Acumen Courses and begin Major courses in
Business Administration, International Business and Marketing or in one of the discontinued majors that
includes Human Resources, Operations Management, Entrepreneurship and BUS majors.
Seniors will complete major coursework in all degrees that may include the discontinued degrees.
2013:
Sophomores will enroll in the Jon M. Huntsman School of Business Acumen Courses (courses are scaled
for RCDE students)
Juniors will complete Jon M. Huntsman School of Business Acumen Courses and begin Major courses in
Business Administration, International Business and Marketing or in one of the discontinued majors that
includes Human Resources, Operations Management, Entrepreneurship and BUS majors.
Seniors will complete major coursework in all degrees that may include the discontinued degrees.
2014:
Juniors will complete Jon M. Huntsman School of Business Acumen Courses and begin Major courses in
Business Administration, International Business and Marketing (Major courses will be scaled for RCED
students).
Seniors will complete major coursework in all degrees that may include the discontinued degrees.
2015:
Seniors will complete course requirements for degrees in Business Administration, International Business
and Marketing (all courses will be scaled for RCED students). Beginning the fall 2015 all students will be
enrolled in one of the three Management Department Majors and/or the minor offerings. All discontinued
degrees will have been phased out.
22
Attachment A
Section I: Request
The Management Department in the Jon M. Huntsman School of Business at Utah State University
requests to discontinue the current Major in Entrepreneurship and replace it with an Entrepreneurship
Minor.
The impact of cancelling the Entrepreneurship Major for both Logan-campus and Regional Campus and
Distance Education (RCDE) students will be minimal and the new Minor in Entrepreneurship has the
potential of achieving positive, statewide academic results. The new minor includes all of the courses
necessary to ensure that all USU students have the opportunity to master the theory, concepts, models,
and competencies required to design and launch new ventures: social, not-for-profit, or for profit.
Students currently majoring in entrepreneurship will be able to complete their degree as the department
phases out the degree over the next two years.
Section II: Need
The need for replacing the undergraduate Entrepreneurship Major with a minor is justified in terms of
student career paths and the results anticipated by the implementation of the new Entrepreneurship Minor
in its place. There exists an unmet need for entrepreneurship education that is accessible to all students
throughout the USU Logan campus and across the state. The current Entrepreneurship Major offered by
the Management Department requires a significant number of classes to acquire the necessary business
acumen to successfully design and launch a venture. Students in other colleges (e.g., science,
engineering, arts, agriculture, etc.) have difficulty fitting all of the necessary entrepreneurship classes
required in the major into their programs of study. Courses in the current Entrepreneurship Major are
offered at a time and in ways that exclude students both on campus and at RCDE locations. The
proposed minor overcomes these problems and better serves all USU students in terms of the course
structure, pedagogy, and the use of distance learning technologies.
The Net Impact of Dropping the Major
The only net impact of dropping the Entrepreneurship Major will be to those students who come to USU to
specifically study entrepreneurship. However, there are very few of these students and these students will
have the option of studying entrepreneurship as a minor combined with another major such as the
redesigned Business Administration Major. Department research has shown that the combination of a
Business Administration Major and an Entrepreneurship Minor would make a powerful difference in the job
market for students. This combination will also prepare them much better to launch a venture if that is
what they choose to do upon graduation. Those students already majoring in entrepreneurship will be
allowed to complete their major with no disruption in their studies.
Rationale and Goals for the Entrepreneurship Minor
The purpose of this proposal is to obtain approval to offer a unique, state-of-the-art sequence of two-credit
courses that will be required for students to achieve a minor in Entrepreneurship. In addition to offering
the courses during the fall and spring semesters, the sequence will be offered during the seven-week
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summer semester that will accelerate entrepreneurial education for students. Students from throughout
the University and State will be able to complete the entire Entrepreneurship Minor during the seven-week,
summer program. Students with a minor in entrepreneurship combined with a major in business
administration can find employment in corporate areas of research and development, new product key
accounts, and launch turnaround management and strategic planning and execution. A minor in
entrepreneurship can be an asset to student?s careers because students enter the market with the
Business Administration Major along with the skills to identify opportunities and launch new ventures.
Organizations will value our graduates as entrepreneurs who can regenerate advantage for the
organization.
The sequence of courses designed for the Entrepreneurship Minor will follow the actual process and steps
real-world entrepreneurs use to create successful new companies. It will consist of six, two-credit courses
totaling 12 credit hours. The seventh course will involve intensive one-on-one mentoring from various
faculty members and industry experts who will assist with the implementation of the business concepts
developed during the course. Once the student has reached the seventh course in the sequence, their
business concept is tightly focused and as a result, their instructional needs are best met through
individualized, one-on-one instruction and mentoring.
The courses offered will be fully developed by faculty members who currently participate in teaching the
courses of the soon to be discontinued Entrepreneurship Major. The courses that will make up the
Entrepreneurship Minor include the following:
MGT 3510: New Venture Fundamentals
Course Description:
This course is the first course in a series of entrepreneurship courses required for a minor. The
course is about innovation, opportunity recognition, and feasibility analysis. The course will teach
students how to gain industry knowledge, how to evaluate competitors, how to know their
customer?s needs both in terms of product attributes and internal value drivers, how to identify a
true opportunity and assess it, and finally how to build an effective business model around an
opportunity once found.
Justification:
A program of study in entrepreneurship must begin with a class that focuses on opportunity
recognition and the skills necessary to determine if the opportunity has a sound business model
worthy of going forward to the next stages of launching the venture. This class has value for more
than entrepreneurship students interested in launching a new enterprise (for profit or not-for-
profit). These are skills that every business leader should possess in today?s volatile, uncertain
business environment. This will be a class that other programs of study within the school of
business and throughout the university will find valuable. It will make USU students marketable.
MGT 3520: New Venture Management
Course Description:
Once an opportunity has been identified and its feasibility tested, entrepreneurs and business
managers need to have the skills to form the business entity. Research on the models, concepts,
and theory in this area is very well established in the venturing literature and will form the basis for
the course. This course teaches students how to assess the critical organizational resources and
competencies necessary to start the organization to take advantage of the opportunity. Students
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learn how to assess their personal skill set and identify their personal strengths and weaknesses,
their competency gaps. Students will learn how to engage a brain trust of mentors, find the right
partners, and build a leadership team that is required for a successful organizational launch.
Having the right management team has been shown to be one of the fundamental elements of a
business model that will help the organization start and thrive. In the process students learn
systems thinking for operational excellence.
Justification:
Research has demonstrated that having the correct skill set on the launch team determines
success of the organization. Venture capitalists, angel investors, banks, and corporate boards
consider a poor management team a „deal killer? when it comes to investing money in a new
opportunity. Students must understand these principles or their ideas will not get traction in the
market in terms of production, customer acquisition, investment and profitability. The theory
underlying these principles is well-established in the literature and principles taught will be
grounded on sound research.
Prerequisite: MGT 3510
MGT 3530: New Venture Marketing
Course Description:
This course teaches students how to develop and build the brand for the new enterprise.
Strategies for gaining customer intelligence are taught with particular attention to primary and
secondary marketing research. Effective low-cost marketing strategies are taught. Students are
taught how to use „the coin of the realm? to gain market presence for their ventures. Understanding
and implementing social media in the market and promotion of the opportunity will be learned in
the course, as well as the role of traditional media: print, radio, television. This course will use
well- established research in marketing, strategy, and psychology to support the tools, concepts,
and theory taught in the class.
Justification:
Too many people with an idea for a new enterprise have a “build it and they will come attitude.”
Unfortunately, most of these people fail. While the numbers vary somewhat based on the source,
it is generally agreed that 50 percent of all new businesses fail within five years and that 70
percent fail within ten years. If the venture fails in attracting customers it will fail. Students must
understand and master the principles taught in this class. As with other courses in this series,
these skills will make USU students highly desirable in the market and increase their probability of
success in launching their new businesses.
Prerequisite: MGT 3510
MGT 3540: New Venture Financing (already exists 4580)
Course Description:
This course provides overview of financial issues affecting entrepreneurial ventures. Emphasizes
finance skills needed to develop the financial section of a business plan, make practical financial
assessments of new business opportunities, and explore sources of new venture funding.
Students will learn how to evaluate resource requirements, mobilize non-financial resources,
develop strategies for bootstrapping, and explore options for funding with debt and equity. The
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theory and tools of deal valuation will also be taught. Students will also learn how to develop a
resource and funding strategy, as well as cash and risk management.
Justification:
Entrepreneurs and employees in an existing enterprise must learn the financial skills necessary to
launch their venture. Finance is more than simply a matter of “getting the money” to launch.
There are skills in how to approach and successfully work with the different sources of capital and
how to successfully manage the risks associated with each source and launch in general. While
money is absolutely necessary to launch, getting the capital with a poor financial plan will actually
harm the venture. This course is absolutely necessary to teach students effective financial
management with respect to starting a new enterprise.
Prerequisite: MGT 3510
MGT 3560: New Venture Planning (already exists 4880)
Course Description:
Theoretical and practical aspects of starting or buying a business are taught in this class. This
includes the development of a business plan, as well as conducting due diligence for buying a
business or extensive consulting with a start-up or growth business. Students learn that
entrepreneurial planning is an ongoing process that is centered upon organizational mission,
vision, values, and goals. As part of the instruction, students learn how to create an annual
execution plan and a Personal Placement Memorandum (PPM).
Justification:
The business plan has been called the ticket for admission to the investment processes and the
PPM is the key to getting the business plan in front of investors and top management. The plan
also forces the student to systematically consider all aspects of the venture from marketing to
operations and finance. Even where deals are bootstrapped and a full-blown plan is not
necessary for investors, it forces a rigorous analysis of the deal by the entrepreneur and brings
discipline to the launch. The skills taught in this class are rare and highly valued within existing
enterprises and fundamental to launching a new venture.
Prerequisite: MGT 3510, MGT 3520, MGT 3530, MGT 3540
MGT 3570: Social Venturing: New Venture Social Responsibility
Course Description:
This course focuses upon social enterprises including ventures with a social mission, non-
governmental-organizations (NGOs) and not-for-profits enterprises. Students learn about the
growing interest in social entrepreneurship and why serving a broader purpose makes sense.
Students learn how social venture business models differ from those of for-profit ventures. Theory
underlying social capital, economics, micro-venturing and philanthropy are taught in this course.
Networking, governance, compliance, and business ethics are all examined.
Prerequisite: MGT 3510
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Justification:
Perhaps one of the fastest growing streams of research and instruction around the world focuses
on social ventures. It has become a cornerstone for entrepreneurship education nationally. Most
new ventures have a “double-bottom line” including a profitable return for investors and some form
of beneficial externality for stakeholder groups. Research has demonstrated that a double bottom
line increases the probability of success for the venture. Additionally, the concepts taught in this
class reinforce the ethical and moral values central to the Huntsman School of Business and Utah
State University.
MGT 3580: New Venture Execution
Course Description:
This capstone course of the entrepreneurship program is about launching the venture and
students are assigned to various faculty and investment mentors. Mentors and students meet
regularly throughout the course while students work on executing issues in their business plans.
Mentors who are especially experienced in the specific industry of focus help students create
networks of advisors and help students solve problems with implementation.
Course Justification:
This course is the capstone course for the entrepreneurship program of study and incorporates
the highest levels of learning theory. By this stage, students have mastered the knowledge of
entrepreneurship and have demonstrated comprehension, application, and analysis as they have
worked through the various stages of launching a venture. As students actually go through the
execution of their new venture plan, they must evaluate and synthesize what they have learned as
they move into unfamiliar, uncertain environments. In short, there will be surprises. Having a
knowledgeable mentor to provide individualized guidance and instruction to the student instruction
is necessary. No two students in this class will face the same challenges. Individualized attention
and instruction is necessary. This is possible because of the network of mentors available to USU
students managed by the Huntsman School?s Center for Entrepreneurial Excellence.
Prerequisite: MGT 3560
The Huntsman School of Business has a strong clinical and tenure-track faculty in the field of
entrepreneurship. This group has extensive experience in new venture creation, business strategy,
organizational consulting, and research and teaching in entrepreneurship. The following individuals will
provide input in program design and may participate in the instruction and mentoring:
James Davis, Ph.D. – Head of the Management Department. Jim has published extensively in the
areas of entrepreneurship and business strategy, created and launched the Gigot Center for
Entrepreneurial Studies at the University of Notre Dame, and served as the John F. O?Shaughnessy
Chair of Family Enterprises.
Michael Glauser, Ph.D. – Executive Director of Entrepreneurial Programs. Mike has written and
published in the field of entrepreneurship, started several successful organizations, consulted with
numerous startup companies, and created the Institute for New Enterprise at Westminster College.
Ken Snyder, MBA – Executive Dean and Chief Administrative Officer. Ken is an entrepreneurial
leader of multiple successful start-up companies. He teaches courses in new venture creation,
planning, and marketing strategy.
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David Herrmann, MBA – Executive in Residence. David has extensive experience developing new
ventures and teaching entrepreneurship. He created and manages the SEED program (Small
Enterprise Education and Development) in the Huntsman School of Business.
Dan Holland, Ph.D. – Assistant Professor of Entrepreneurship. Dan teaches entrepreneurship and
conducts research on entrepreneurial motivation and decision-making. He has 12 years of
experience working in various engineering, marketing, and management roles.
Christopher Reutzel, Ph.D. – Assistant Professor of Management. Chris conducts research in new
venture creation. He teaches courses in entrepreneurship, business strategy, and is developing a
course in social entrepreneurship.
Eric Schulz, MBA – Senior Lecturer and Co-Director of Strategic Marketing and Brand Management.
Eric has worked in marketing and brand management with some of the top consumer product
companies in the world – Procter & Gamble, Disney, and Coca-Cola. He teaches courses in product
marketing and brand management.
The long-term goal is to have a clearly defined sequence of courses that follows the process actual
entrepreneurs use to create successful business ventures. Students will be able to take these courses
during the school year in the traditional semester format or during the summer in the intensive accelerated
format outlined here. The summer format should be particularly attractive to non-business majors doing a
minor in entrepreneurship and community members who need help with the creation, launch and
development of their own company. This unique sequence of courses will appeal to three groups of
potential students from throughout the state: (1) business students who wish to add entrepreneurship as a
minor, (2) non-business students who want to minor in entrepreneurship, and (3) aspiring entrepreneurs
and small business owners from the community.
Section III: Institutional Impact
The proposed program of study should not affect enrollments in instructional programs offered by affiliated
departments or programs. Changing our Entrepreneurship Major to an Entrepreneurship Minor keeps the
current administrative structure in place and provides the resources and the faculty to deliver the program.
The design for the minor will be less invasive to other programs of study because the courses are offered
in two-credit, modular format. Students will be able to minor in Entrepreneurship without disrupting or
conflicting with their major programs of study.
The Entrepreneurship Major is currently offered on the Logan campus and throughout the state through
RCDE. The proposed minor will also be offered statewide. Again, the Huntsman School of Business has
the technology in place to deliver the program throughout the state. No additional equipment will be
required.
Section IV: Finances
Because the structure, resources, and finances are in place from the major and are simply shifting them to
a minor, no additional resources are necessary. The minor will be offered through on-line instruction to all
RCDE locations, economies of scale will be realized.
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