Business Modeling and New Venture Creation

Catalog description

ENTR 502 focuses on the process of launching a new venture, in a corporate setting or as a new startup, including identifying a problem or market opportunity, developing business models, forming a team, financing, analyzing markets, assessing the competitive environment, and planning to acquire leadership talent. A business model canvas framework is used as the primary tool for describing, analyzing, and designing business models. In essence, this course identifies and defines the key components necessary to develop a formal business plan. Concepts and techniques explore new venture creation business strategies, including different approaches for business model development. Students will gain insight into how to translate new ideas into viable projects and business ventures. Students will learn the importance of understanding markets, customer segments, and the competitive landscape, as well as how to obtain funding for new ventures. Lastly, the issue of how to acquire leadership and human resource talent to make a new venture viable over time is investigated.