MBA 572: Creativity and Contemporary Entrepreneurship course provides an introductory overview of the knowledge and skills needed for the identification, evaluation, and exploration of opportunities in a variety of circumstances and environments. It concentrates on the study of entrepreneurship, preparation of business plans, methods for evaluating and screening new venture ideas, formulation and implementation of business strategies for new ventures, the financing of new ventures, and the growth and exit strategies as well. It integrates knowledge gained from the prior core business courses (i.e., management, marketing, finance, accounting) to sharpen the student's ability to "think entrepreneurially" and form new ventures. Further, there is a heavy emphasis on hands-on study.
The course emphasis is on the creation of new ventures, the ways that new ventures come into being, and factors associated with their success. This is a course of many ideas and questions, and students are encouraged to develop and defend their own sets of conclusions regarding each of these issues.
A central portion of the course explores the entrepreneurs’ tool kit. This course looks at techniques that can be used to identify customers, determine their needs, and estimate future sales, secure funding, and negotiate terms. It offers insights into entrepreneurial marketing strategies and tactics. Formal and informal sources of capital are discussed. MBA 572 also examines how financing deals are negotiated and structured in term sheet and closing documents, including the task of determining a valuation for a new venture.
COURSE OBJECTIVES
- To explore how entrepreneurs think and to acquaint students with the entrepreneurial mindset.
- To understand the process nature of entrepreneurship and the ways to manage that process, including opportunity recognition, feasibility evaluation, and resource acquisition.
- To develop a business plan and facilitate the implementation of its idea or concept.
- To show how to effectively communicate a business's strategic vision in order to interest investors and serve as a roadmap for initiating and growing the business.