Entrepreneurial Management BS

Program Purpose


Entrepreneurs seek to make the world a better place by discovering problems and innovating to solve those problems. These problems are typically found in conditions of high uncertainty, requiring insight into sources of uncertainty and applying principles of search and testing to validate a solution. Solving customer problems encourages entrepreneurs to create new venture to capture market value. Entrepreneurship teaches students to innovate, how to start new ventures and make them profitable.

Course Structure

Students who graduate with an Entrepreneurship emphasis in the Business Management major are required to take the following courses:

BUS M 470, Entrepreneurial Innovation: Finding and validating ideas for innovative new ventures with a focus on customer pain, elegant solutions, and markets.

BUS M 471, Creating New Ventures: Learning the critical skills to create a successful new venture by validating an initial idea and business model in the field.

Students with an emphasis in Entrepreneurship are also required to complete the following courses as a part of the Management major requirements:

BUS M 277, Legal Issues in Entrepreneurship: Legal risks faced by entrepreneurs. How to plan for and avoid legal problems including forming the business, legal liability, and protecting assets. (Recommended in place of ACC 241.)

BUS M 371R, Entrepreneurship Lecture Series: Lectures by successful entrepreneurs on subjects significant to entrepreneur-type opportunities. (**This fulfills the lecture series requirement.)

Students will also need to completefour Entrepreneurship emphasis courses from the following:

BUS M 454, Professional Selling and Sales Management: Concepts of professional selling and sales management including personal selling skills; strategic role of personal selling; organizing, directing, controlling, and evaluating the sales force.

BUS M 457, Internet Marketing of Products and Services: Integrates product, research, sales, and promotional strategy and concepts into an overall marketing plan for developing an Internet business.  Term project developing an Internet business required.

BUS M 462, Customer Relationship Management: Methods and principles for effective management of customer relationships within service businesses.  Analyzing customer-interactive processes with regard to strategic innovation, performance measurement and improvement, process efficiency, interactive job design, service marketing, and service quality assurance.

BUS M 472, Entrepreneurial Marketing: Marketing strategies for start-up companies.  Topics include marketing to investors, internal marketing, and how to market products/services without a marketing budget.

BUS M 475, Financing New Ventures: Concepts and skills of entrepreneurship, emphasizing how new and emerging companies are financed.  Applying functional tools to case situations.

BUS M 476, New Venture LaunchPad: Launching actual new ventures.  Mentored learning of idea validation, business models, minimum viable products, and financing plans.  Good preparations for participating in BYU's entrepreneurial competitions.

BUS M 538, Managing Entrepreneurial Firms and Family Businesses: Issues and problems facing managers of entrepreneurial enterprises and leaders of family-owned businesses.  Includes start-up, growth, and exit strategies.  Consulting project required.

FIN 413, Real Estate Finance and Investment: Terminology, concepts, principles, and analytical techniques related to financing of and investment in real estate.

Undergraduate Catalog

Major Academic Plan (MAP)

Learning Outcomes


Students in the Entrepreneurship emphasis of the Business Management major acquire the knowledge and, more importantly, develop the skills and competencies necessary to engage in entrepreneurship throughout their lives.  Whether through starting new ventures or managing in existing firms, Entrepreneurship students solve problems through innovation.

Entrepreneurship Learning Outcomes

Manage Uncertainty

Recognize sources of uncertainty and apply principles of search and testing to resolve the uncertainty faced in the entrepreneurial environment.

Courses that Contribute: BUS M 241 BUS M 470
Linked to BYU Aims: Think soundly, Quantitative reasoning, Competence, Lifelong learning
Innovate

Innovate to solve real-world problems.

Courses that Contribute: BUS M 470 BUS M 471 BUS M 472
Linked to BYU Aims: Communicate effectively, Quantitative reasoning, Competence, Lifelong learning
Create New Businesses

Create and manage new businesses that solve customer problems.

Courses that Contribute: BUS M 277 BUS M 470 BUS M 471
Linked to BYU Aims: Think soundly, Communicate effectively, Quantitative reasoning, Lifelong learning

Evidence of Learning


Managing Uncertainty

Direct Measures:

All entrepreneurship students apply the principles of search and testing of assumptions in the face of uncertainty in the two required classes of the emphasis.  They continue to apply these principles in the elective courses of the program.  Direct evidence of managing uncertainty includes:

  1. Students are graded on their efforts to the apply principles of search and testing in the face of uncertainty.
  2. Faculty meet to review the quality managing uncertainty in projects across courses.
  3. Students in the New Venture Launchpad class are mentored and graded on their progress in their new ventures.

 

Indirect Measures:

  1. External rankings of the undergraduate Entrepreneurship program.
  2. Performance of student in entrepreneurship competitions at BYU and throughout the world.
  3. Success of students in securing funding for new ventures.
  4. Success of graduates in launching startups throughout their careers.

Innovate

Direct Measures:

All entrepreneurship students apply the principles of innovation in the two required classes of the emphasis.  Direct evidence of innovation includes:

 

Indirect Measures:

  1. External rankings of the undergraduate Entrepreneurship program
  2. Performance of students in entrepreneurship competitions at BYU and throughout the world
  3. Success of students (and graduates) in securing funding for new ventures
  4. Success of graduates in launching startups throughout their careers

 

 

 

Create New Businesses

All entrepreneurship students start multiple new ventures as part of their entrepreneurship education.  Direct evidence of creating new ventures includes:

  1. Student grades in the required courses and in the electives that focus on creating new ventures
  2. Student scores on specific projects that emphasize creating new ventures
  3. New ventures that were not launched because they were deemed to be bad ideas
  4. New ventures that were launched because they survived the scrutiny of feasibility analysis

 

Indirect Measures:

  1. External rankings of the undergraduate Entrepreneurship program
  2. Performance of students in entrepreneurship competitions at BYU and throughout the world
  3. Success of students (and graduates) in securing funding for new ventures
  4. Success of graduates in launching startups throughout their careers

Learning and Teaching Assessment and Improvement


All learning outcomes data are reviewed by the Entrepreneurship faculty each year.  These faculty are focused on collecting more and better data on the performance of students with respect to the learning outcomes.  They are also focused on improving the learning of students by requiring more rigorous testing and evidence in their work on new venture projects throughout the curriculum.  Based upon recommendations by the Entrepreneurship faculty, we change and improve the content, teaching methods, and assessments of students and their learning.