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Entrepreneurship Concentration – Explained

Cite this article as:"Entrepreneurship Concentration – Explained," in The Business Professor, updated December 6, 2019, last accessed July 13, 2020, https://thebusinessprofessor.com/lesson/entrepreneurship-concentration/.

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The entrepreneurship concentration is cross­ disciplinary, focusing on the challenges of establishing and managing new and growing ventures. The business environment and management skills required for success in new ventures are significantly different from those in established, mature organizations. The entrepreneurship concentration is relevant to students preparing to work in a variety of entrepreneurial environments.

The entrepreneurship concentration is designed to prepare students in the following areas:

  • Integration of business concepts as they relate to an entrepreneurial venture
  • Building and growing a new venture
  • Understanding the investment communities for new ventures
  • Identification and analysis of opportunities
  • Researching, writing and presenting a business plan
  • Idea generation

Common Courses

  • Principles of Entrepreneurship – This course provides instruction in the basic principles of entrepreneurship including the role of the entrepreneur, entrepreneurship as a career, ethics in business, and the principles of marketing, financing, and managing a business.
  • Small Business Management – Organization, Management, Financing, Marketing, Budgeting in a closely-held business venture.
  • Company Formation and Compliance – Essential elements of various types of business entities and the governance procedures required to maintain the entity.
  • Entrepreneurial Finance – Methods of funding a new venture. There is a focus on personal finance, debt (secured loans), and equity investment
  • Entrepreneurial Marketing – This course clarifies key marketing concepts, methods, and strategic issues relevant for start-up and early-stage entrepreneurs.
  • Ideation & Creativity – This course explores how to use observational tools and other techniques for idea generation and we will talk about how to evaluate the good ideas from the bad. The goal is to settle on a business idea that you are not only passionate about but also has real market application. At the end of this course learners will be able to: -build a resource inventory from which they can assess and create market opportunities; -pursue market opportunities consistent with personal passions and capabilities; and -triage potential ideas in terms of which have the greatest potential for commercial and personal success.
  • Business Planning – This course examines the various considerations when planning a business. It generally cumulates with the creation of a business plan for a hypothetical business.
  • Entrepreneurial Strategy – This course examines business models and competitive strategies for startup ventures.

Organizations

  • SCORE – SCORE is America’s premier source of free and confidential small business mentoring and advice service.  More than half a million entrepreneurs rely on SCORE each year for help with fulfilling their dream of starting or growing small businesses. SCORE is made up of more than 13,000 working and retired business professionals who are committed to helping their communities thrive by providing small business owners with valuable guidance and insights, all at no cost to the client.
  • Small Business Administration (SBA) – The Small Business Administration (SBA) is an independent federal agency that helps small businesses in the United States. The administration provides aid, usually in the form of loans, and counseling to assist and protect the interests of small business concerns. The SBA helps Americans start, build, and grow businesses all across the country and in U.S. territories, such as Puerto Rico, the Virgin Islands, and Guam. But the agency hasn’t always accomplished its mission. It has repeatedly been criticized for responding slowly to the needs of small business owners, especially in the wake of disasters.
  • The Indus Entrepreneurs (TiE) – The Indus Entrepreneurs (TiE), was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. There are currently 13,000 members, including over 2,500 charter members in 61 chapters across 18 countries. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, education, incubating, and funding. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE’s focus is on generating and nurturing our next generation of entrepreneurs.
  • Collegiate Entrepreneurs’ Organization – Collegiate Entrepreneurs’ Organization is a well-respected national membership organization that strives to propel students into entrepreneurship, social and professional spheres of power worldwide. Their mission and vision is to provide student entrepreneurs’ with opportunities, events, chapter activities and conferences to help them start businesses. In 1970 a new and exciting field of study in business and higher education was implemented in universities as entrepreneurship. In 1997, the Collegiate Entrepreneurs’ Organization was launched to inform, support, and inspire students to be entrepreneurial and seek opportunity through enterprise creation. CEO National currently supports entrepreneurship on over 200 chapters in over 43 states.
  • Entrepreneurs Organization (EO) – The Entrepreneurs’ Organization (EO) is a global, peer-to-peer network of more than 10,000 influential business owners with 147 chapters in 48 countries. Founded in 1987, EO is the catalyst that enables leading entrepreneurs to learn and grow, leading to greater success in business and beyond. EO is basically the Justice League of the entrepreneurial world. This group has it all – not only do they offer forums and personal advice on a national scale, but the organization also sponsors local chapters with their own meetings and amenities. There are even great healthcare options for members. On top of that, there are personal mentorship opportunities and huge networking events. It’s the ultimate toolbox for entrepreneurs.
  • YEC (Young Entrepreneur Council) – The Young Entrepreneur Council (Y.E.C.) provides its members with access to tools, mentorship, community and educational resources that support each stage of their business’s development and growth. This organization promotes entrepreneurship as a solution to youth unemployment and underemployment.
  • NFIB (The National Federation of Independent Business) – The National Federation of Independent Business touts itself as “The Voice of Small Business.” The association, which has some 350,000 members, provides discounts, networking opportunities, online discussion groups, and state and federal lobbying. It also runs young entrepreneur, legal, and research foundations.
  • StartupNation – StartupNation, LLC provides entrepreneurial advice via radio program and through an online community for entrepreneurs. It offers advice on various topics, including business financing, business models, business planning, home based business, business technology, inventing, life planning, marketing, running a business, sales, and web-based business. The company was founded in 2000 and is based in Birmingham, Michigan.
  • Chamber of Commerce – Your local chamber of commerce can be an excellent resource for growing your business, particularly in your immediate community. Local chambers work to link small businesses by facilitating interaction and support within regional areas. Community chambers also help small-business owners connect with the more than 7,000 chambers of commerce worldwide.
  • Meetup – Meet like-minded small-business professionals through this global social-networking group. Meetup connects entrepreneurs online so they can ultimately connect in person. Simply plug in your ZIP code to find a group in your area. With get-togethers happening in more than 1,100 cities, chances are you’ll find a relevant event happening near you.
  • The International Council for Small Business (ICSB) – The International Council for Small Business is a non-profit organization devoted to continuing management education for entrepreneurs and small business. The Council was founded on the belief that enlightened small business management is necessary for successful, profitable small business, that successful small businesses are essential to our national economies, and that entrepreneurship needs to be fostered to stimulate a dynamic and growing economic system.
  • FoundersCard – FoundersCard, started by Eric Kuhn in 2009, is the first membership community designed specifically for entrepreneurs and innovators. This is an organization has over 15,000 members who enjoy generous networking events and many discounts are provided.
    Social Enterprise Alliance – Members receive subscriptions to a monthly newsletter, GrantStation Insider, and extensive webinar series. Other benefits include access to forums, the SEA Knowledge Center, consultation services, and networking opportunities at chapter events.
  • Startup Grind – Startup Grind is a global startup community designed to educate, inspire, and connect entrepreneurs. Each monthly event, hosted in over 185 cities and 70 countries, features a successful local founder, innovator, educator, or investor who shares their story and the lessons they learned on the road to building a great company. These events provide networking opportunities with amazing startups and local entrepreneurs and give entrepreneurs inspiration for the startup journey ahead.
  • Edward Lowe Foundation – Founded in 1985 by Ed and Darlene Lowe, the Edward Lowe Foundation aims to “champion the entrepreneurial spirit.” This foundation achieves this fantastic goal by connecting second-stage entrepreneurs with their peers through leadership programs like Economic Gardening and the PerSpectives Roundtable System.
    Ashoka – Ashoka is one of the largest networks of social entrepreneurs worldwide, with nearly 3,000 Ashoka Fellows in 70 countries putting their system changing ideas into practice on a global scale. Ashoka has provided start-up financing, professional support services, and connections to a global network across the business and social sectors, and a platform for people dedicated to changing the world. Ashoka launched the field of social entrepreneurship and has activated multi-sector partners across the world who increasingly look to entrepreneurial talent and new ideas to solve social problems.
  • The Entrepreneur’s Club – The Entrepreneurs’ Club (formerly CoolTech Club) is an international multi-ethnic network of several thousand high-tech entrepreneurs, executives and other professionals that started in 2003. TEC may not require a membership organization, but attending any of the ten or so events or seminars a year gives you the chance to network, exchange ideas with peers, or sit-in on discussions surrounding the latest markets trends. Events also include influential speakers ranging from Steve Blank to Guy Kawasaki.
  • National Association for the Self Employed (NASE) – NASE was founded in 1981 by small business owners who realized they could enjoy the same economies of scale for purchasing goods and services simply by banding together. The NASE offers entrepreneurs and small business owners a wide range of resources and tools to help you run your business successfully. NASE also keeps members informed about legislative activities and provides access to resources and experts.
  • Dynamite Circle – The Dynamite Circle, or the DC, is a private community for entrepreneurs with established, successful and legitimate businesses that are not location dependent. It was founded by Dan Andrews and Ian Schoen of Tropical MBA. The DC began as a small mastermind in 2011, and still holds this as one of its primary tenants and value propositions. In addition to masterminds, members can also benefit from juntos, local community networking events, yearly DCBKK events, and more.
  • Forum for Women Entrepreneurs (FWE) – The Forum for Women Entrepreneurs is a place for women entrepreneurs to get tough questions answered. FWE is dedicated to providing visionary women with the education, empowerment, and energy they need to become wildly successful entrepreneurs. The Programs and Events at FWE are designed to support and mentor women who are venturing into new business opportunities or ready to ramp up and grow their existing business. From start-up advice to specific tips and tricks, FWE leaders, advisors, and business professionals are ready to share their expertise. FWE has been encouraging, educating, and mentoring women entrepreneurs for over a decade. With 140+ E-series program participants, 500 mentees partnered with mentors through the HSBC Mentor Program, and a growing list of programs and events offered throughout the year, the team at FWE, along with its members, continues to see success.
  • National Black Business Council (NBBC) – The mission of the NBBC is to be a catalyst for the creation and development of black-owned businesses. The purpose of this effort is to foster the growth and networking of black businesses, the rebirth of black communities, and the achievement of black professionals.
  • Startup Canada – Startup Canada is a grassroots network of entrepreneurs working together to build an environment for entrepreneurship in Canada. Through online platforms, grassroots Startup Communities, and cross-sector initiatives, Startup Canada is advancing entrepreneurial momentum and a culture of entrepreneurship, as the voice of Canadian entrepreneurs. Startup Canada has quickly become the most recognized, energized, and active entrepreneurship organization in Canada. Startup Canada has mentored more than 20,000 Canadians and has grown to represent more than 80,000 entrepreneurs, 400 enterprise support partners, 300 volunteers and 20 Startup Communities from coast to coast. Globally, Startup Canada is recognized as the best practice in fueling grassroots entrepreneurship and has educated leaders in the United Kingdom, Malaysia, South Korea, South America and the United States.

Certifications

Certificates from various educational institutions.

Common Careers

  • Business Transactions (Industry Specific)
  • Small Business Owner
  • Startup Founder (Scalable Business)
  • Employee in a New Venture
  • Social Venture (Non-Profits)
  • Services to New Venture
  • Business Analyst (Internal)
  • Business Strategy (Internal)
  • Research & Development
  • Business Teacher
  • Business Coach

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