The purpose of this course is to give you a foundation in entrepreneurship. In order to teach this subject in a coherent and comprehensive manner, we have defined entrepreneurship as a method of management. The method is different from traditional management in that it is focused very heavily on output at the expense of emphasizing organizational structure. Therefore, it is not suitable for very large organizations, but it is extremely effective in handling change and rapid growth. Small Business Management is a third form of management and very closely related to Entrepreneurial Management. This form is well suited for start-ups and companies small enough to be managed intuitively.
Since entrepreneurial management is focused on rapid growth and the accommodation of both structural and technological change, its success depends heavily on the ability of its chief executive officer to make timely and sound decisions. To succeed in this requirement, the chief executive officer must thoroughly understand “the business process”. Therefore, this course is taught to give the student an understanding of the business process from the chief executive officer’s perspective.
Each enterprise/business is different. The basic business process does not change, however, the way it is applied and the areas of emphasis is different for each business. The importance, preparation and use of the business plan are covered in detail. The business plan is an essential ingredient of any start-up and remains important as a business grows. This course also covers skills and knowledge outside the operations area that is helpful to an entrepreneur, such as; legal matters, negotiations, leadership, ethics and behavior requirements.
This course is a prerequisite for applying for acceptance to the number one entrepreneurship program in the country. Therefore, it covers in a survey manner the information that is taught in detail in the remaining five courses of the curricula for a major in entrepreneurship. The student should leave the course with an understanding of the essential elements of entrepreneurial management.