ENTR 000/5202 - Developing an Entrepreneurial Venture (3 cr.)
This is the second of two project-based courses that will focus on Entrepreneurial start-ups and Family Businesses in the MBA. It builds on the concepts and skills developed in the first project-based course. It is based on experiential learning with the objective of exposing the students to actual experimentation with their start-up business.
Students will take the business concept, idea and model that was developed in the pre-requisite course and continue the entrepreneurship journey by establishing an enterprise that will strive to achieve profit and gain first steps towards sustainability.
During this course, students will go through three cycles of reflection on their entrepreneurial venture:
- Introducing their products/services to the customers and gain first-hand knowledge on the reaction of the market. This includes meeting customers outside the class, pitching their value proposition, and negotiating with customers.
- Soliciting resources from suppliers/partners, conducting negotiations, quality control and ensuring delivery.
- Assessing their products, pricing, promotion, and people utilized in the process.
After each phase Students will have an opportunity to pivot by changing their business model as a result of their evaluation of the previous phase and experience.
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