Jul 18, 2024  
2019-2020 Course Catalog 
    
2019-2020 Course Catalog [ARCHIVED CATALOG]

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MKTG 2005 - Entrepreneurship Fundamentals

Credits: 3
Hours/Week: Lecture None Lab None
Course Description: This course emphasizes basic elements that potential entrepreneurs must consider in preparation for launching a new business venture. It focuses on the tasks involved with the launch of a business, product, and /or service – financial planning, market planning and research, advertising, and project management. Students will also investigate ethics, succession planning, and other essentials needed to create a unique business plan. It stresses innovation in class projects and assignments related to the student’s knowledge and expertise in a particular interest area with business potential. Students present their completed projects to the class at semester’s end.
MnTC Goals
None

Prerequisite(s): None
Corequisite(s): None
Recommendation: MKTG 2050  and MKTG 2080  (or BMGT 1020 ).

Major Content
  1. defining entrepreneurship who are entrepreneurs and what is entrepreneurship?trends and their impacts - Internet and e-commerce process approaches intrapreneurship - corporate obstacles, strategies, structures and climate
  2. developing an effective business plan elements of a business plan assessment and evaluation of opportunities new venture development feasibility studies
  3. entrepreneurial perspectives entrepreneurial characteristics and behaviors risk confrontation steps to creativity and innovation - developing a creative climate
  4. environmental assessment assessment and preparation environmental scanning regulatory impact industry analysis
  5. ethics and social responsibility ethics and social responsibility ethical business decisions and managerial rationale opportunities for ethical entrepreneurial leadership
  6. financial preparation financial preparation and statements operating budgets capital budgeting
  7. legal structures sole proprietorships partnerships corporations (S-type & C-type) LLPs and LLCs franchising
  8. marketing research market research techniques marketing concepts market planning consumer behavior pricing
  9. legal issues patents trademarks copyrights bankruptcy
  10. sources of capital debt v. equity venture capital market risk capital

Learning Outcomes
At the end of this course students will be able to:

  1. describe characteristics, behaviors, and cultures of entrepreneurship and intrapreneurship
  2. complete an environmental scan, industry analysis, and a market research plan draft
  3. assess strategic business opportunities at both local, regional, and global levels
  4. develop financial goals, strategies, and objectives for a written business plan
  5. explain appropriate quality management/quality improvement strategies for the business
  6. analyze the dollar value of a business in the event of a buyout, acquisition, or sale
  7. devise a succession plan for a business
  8. create a written business plan
  9. discuss legal and ethics issues and social responsibility challenges that entrepreneurs face

Competency 1 (1-6)
None
Competency 2 (7-10)
None


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