Course Number: 94-807
Welcome to Entrepreneurship. We cover the basics associated with innovation and building a new venture or initiative from scratch either inside an existing organization or as a new company startup. The course assumes no prior knowledge of business or entrepreneurship.
The broad mission of the course is three pronged:
To develop and understand the entrepreneurial frame of mind that drives innovation (think
To understand the basic skill set required to start or champion something new
To stimulate self-evaluation for career direction
The entrepreneurial frame of mind. Entrepreneurs are people who create something from
nothing. Sound familiar? Yes, it’s all about creativity. Entrepreneurs are not necessarily the inventor of something unique, so much as they are the exploiter of a business opportunity. This course explores the ability to think creatively with a business frame of mind. The course focuses on bringing new innovations to market. It will instill an appreciation of the characteristics and motivations of entrepreneurs and intrapreneurs. The course also addresses the importance of acting as a responsible and ethical individual while pursuing a business opportunity.
Basic skills. Starting something new is no easy task. This course outlines the basic guidelines of how to distinguish between and idea and an opportunity, how to conduct meaningful market research, how to analyze the competition, how to create a market entry strategy, how to build a management team, how to create preliminary financial projections, and how to establish milestones. To do this, the basics of a business plan will be covered, and students will work in teams to put together a project consisting of a pre-business plan, or New Venture Screen (NVS).
Self-evaluation. Entrepreneurs become experts at evaluating their strengths and weaknesses. Smart entrepreneurs surround themselves with people smarter and more experienced than they are – in essence filling the gaps that they cannot fill. In short, know thyself… This course puts students in a position to evaluate themselves and their peers in new ways. Through this evaluation, it is expected that students will open up new avenues as they approach their careers beyond CMU.