Entrepreneurship  Course Descriptions

ETR 102: Introduction to Entrepreneurship, 4 credits

Students will begin to identify and study the key characteristics and approaches of people who embrace an entrepreneurial way of living and working. Our key learning focus is to understand what is required to create and grow successful enterprises.  We will also discuss how entrepreneurship dynamics affect the entrepreneur’s family and businesses.

Goals and Objectives
By the end of this course, Northwood wants students to:

1. Understand what defines Entrepreneurship and makes individuals embracing it so valuable to society and satisfied with their work and family life balance choices.
2. Get to know what is required to become a successful entrepreneur.
3. Know the fundamental strategies and activities that successful entrepreneurs focus upon to achieve their objectives.
4. Start to evaluate their interests and personal characteristics, so they can begin to develop a personalized and practical pathway to becoming a successful entrepreneur.
5. Understand why many socialistic countries and economists and social philosophers are beginning to view entrepreneurs more favorably.
6. Start considering the global opportunities presented by the trend towards less government regulation and freer, global markets.
7. Continue to improve their presentational and networking skills.

ETR 103: Entrepreneurial Marketing: Niche Analysis, 4 credits

Students learn and apply entrepreneurial marketing approaches used by successful entrepreneurs.  They research industry sector trends, identify emerging needs, develop new product and service ideas and evaluate their feasibility, competitive advantage and potential profitability.  Students will present a two minute elevator pitch for the purpose of convincing investors or senior managers to fund their new venture concept.

Goals and Objectives
By the end of this course, Northwood wants students to:

1. Be introduced to the concepts and precepts of entrepreneurial marketing. 
2. Learn marketing approaches and techniques, which successful entrepreneurs have used to develop and sell profitable new products and services.  They will learn from Entrepreneur-Mentors about: strategies for marketing new products, formulating achievable business strategies, branding new ideas, viral marketing, dominating the distribution channel, effective customer relationship management techniques (CRM), cost-efficient public relations, and marketing’s influence on raising venture capital.
3. Research emerging trends within industry sectors, apply brainstorming techniques and generate innovative new product ideas and business ideas.
4. Begin using analytical and planning tools to test the feasibility of their innovative ideas. 
5. Develop and present their recommended commercialization process, which informs potential investors and other financial supporters, of the steps required to convert their good idea into a profitable product or service. This will include identifying the critical milestones and time line that must be achieved in order for product and/or service development to proceed to final product launch.     
6. Create and present their personal summary of the ten most important insights provide by the Mentor Entrepreneurs they will study. 
7. Present in a two minute elevator pitch format the merits of their “best idea”.

ETR 201: New Enterprise Management, 4 credits

Students will identify and begin learning how to manage the personal, leadership and managerial challenges that Entrepreneurs face when: starting-up new ventures, launching new products or re-vitalizing troubled companies.  When appropriate, we discuss how entrepreneurial dynamics affect the Entrepreneur’s family and businesses.

Goals and Objectives
By the end of this course, Northwood wants students to:

1. Acquire a deeper understanding of what is required to be a successful Entrepreneur and why such individuals are so valuable and satisfied with their business and family life balance choices.
2. Learn to identify, avoid or manage the most common managerial and personal challenges faced by Entrepreneurs during the start-up of new ventures, launching new products or revitalizing and turning around troubled businesses.
3. Begin to understand how to apply an entrepreneurial, multidisciplinary approach when using the business disciplines of marketing, sales, accounting, finance, law, management, human resources and management information systems.
4. Start identifying global entrepreneurial opportunities presented by the current paradigm shift towards less government regulation and freer, global markets.
5. Create an inventory of their interests and personal characteristics and begin developing their personal pathway entrepreneurship handbook, which will be a catalog of their innovative ideas and personal strategies to becoming a successful Entrepreneur.
6. Identify Entrepreneurs, Businesses, Incubators, Innovation Centres and other entrepreneurial activity that could help them acquire and successfully complete an internship.
7. Continue to improve their presentational and networking skills.

ETR 202: Business Plan Process, 4 credits

Students will be introduced to the process of researching, writing and presenting a business plan.  Working in teams, students will complete a simple business plan, which includes a thorough analysis of the market opportunity to be exploited, an outline of how they will design a company business model and identification of the major resources required to launch a start-up.  A rudimentary financial analysis is required.

ETR 203 Philosophy of New Enterprise and Family Business,  4 credits

Students study the history and evolving management theory and public policy philosophies that effect entrepreneurial behavior and new venture creation.  Students will be introduced to common management problems and solutions effecting business growth and ownership succession in family businesses. Students will continue to develop a personalized, sophisticated approach that embraces an entrepreneurial way of living and doing business. They will research and evaluate a variety of philosophical approaches to entrepreneurship and family business management.  They will study American government policies, social attitudes, and new venture development tools that foster successful entrepreneurship.    
Prerequisite: ETR 201 or Junior Status

Goals and Objectives 
By the end of this course, Northwood wants students to:

1. Learn how to develop a business plan based upon a realistic scenario that significantly advances their new venture creation know-how.
2. Research American and foreign government’s philosophical, social and economic approaches to fostering entrepreneurship and identify ways that this information provides practical assistance to their future new venture creation and business growth aspirations. This work will also provide an introduction to American tax policies that encourage entrepreneurial endeavors.
3. Evaluate a specific philosophic approach that encourages successful entrepreneurship.  Students will identify concepts that are useful to them and present how the concepts can be built into their value systems, and how apply the concepts to daily activities.
4. Research family business management issues that can positively and negatively affect new venture creation and business growth.
5. Continue the work started in ETR 103, practicing how to research emerging trends within industry sectors, identifying unmet needs, applying brainstorming techniques and generating innovative new product ideas and business ideas.

ETR 302: Risk Analysis and Sources of Capital, 4 credits

In this course the student uses economic and financial tools to evaluate the sources of new venture capital and the risks associated with using them in a new business venture.
Prerequisite: FIN 301 or FIN 321

ETR 303: Cases and Topics in Entrepreneurship and Family Businesss, 4 credits

In this course the student studies a variety of cases as well as current research on entrepreneurship and the entrepreneurial process. This course has a special focus on process management, intrapreneurship and family business management.
Prerequisite: ETR 203

ETR 399: Externship, 2 credits

In this course students will learn how their employer arranges for the creation, financing, operation, or liquidation of a business venture.
Prerequisite: Department chair approval

ETR 401: Organizing and Controlling New Venture Resources, 4 credits

In this course the student focuses on the human resource and financial issues associated with organizing and controlling a new business venture.
Prerequisite:  ETR 302

ETR 402: Strategic Management of a New Venture, 4 credits

In this course the student focuses on the development, design, and implementation of a new venture business strategy. Heavy emphasis is placed on the venture’s core competencies, competitors, customer needs, and strategic congruency.
Prerequisite:  ETR 302

ETR 403: Seminar in Family Business Growth and Succession, 4 credits

In this course the student explores the issues associated with business growth, estate planning, and succession planning within family business leadership. Special attention is paid to intergenerational changes of management control and their implications.
Prerequisite:  ETR 203

ETR 404: Venture Capital Proposal, 4 credits

In this course the student researches and prepares an extensive business plan, marketing plan, and proposal for the financing and capitalization of a new business venture of his or her design. Extensive market research and complex financial analysis are required.
Prerequisite:  ETR 402