The major consists of a total of 5.0 credit units, one of which is a part of the first-year Management Core. Only 1.0 cu of pass/fail coursework can be counted towards the major.
a) One credit unit (1.0 cu) of the Management Core (any combination of Management core courses up to a maximum of 1.0 cu)
b) MGMT 801: Entrepreneurship (0.5 cu) is required for the major and cannot be waived or substituted. Students are recommended (but not required) to take this foundation course before the elective courses listed in section ‘c’ below.
c) Three and a half credit units (3.5 cu) of the following:
d) Optional: a maximum of one credit unit (1.0 cu) of the following courses may be substituted for 1.0 cu of elective courses listed under (c) above:*
Courses Offered by the Goergen Entrepreneurial Management Program:
MGMT 765 (0.5 cu)
This elective half-semester course will highlight venture capital and entrepreneurship in general and will explore selected aspects of this industry, including: industry trends and dynamics in Silicon Valley and the South of Market area (SOMA) of San Francisco; the recent emergence of alternative sources of startup financing, including incubators/accelerators and crowdfunding crowdfunding platforms, angel groups and stage-agnostic institutional investors; business and operational aspects of early stage companies in transition to mezzanine-level stages of growth; and company “exits,” including both initial public offerings and merger/sale transactions. MGMT765 and MGMT804 cover separate issues within the same general industry and are not redundant. This course addresses issues faced by later stage VC backed firms, while MGMT804 centers on early stage, pre-revenue startups. The format of this course relies heavily on site visits and recognized leaders within the Bay Area to bring forth on-the-ground perspectives of a changing and important industry. While MGMT804 is not a prerequisite, the two courses are complementary.
MGMT 802 (0.5 cu)
Designed for students with a serious interest in entrepreneurship, this course will provide you with an advanced theoretical foundation and a set of practical tools for the management of startups and entrepreneurial teams in fast-changing and innovative environments. Building on the skills of Management 801, every class session is built around an experience where you have to put learning into practice, including the award-winning Looking Glass entrepreneurial simulation, role-playing exercises, and a variety of other games and simulations. The goal is to constantly challenge you to deal with entrepreneurial or innovative experiences, as you learn to navigate complex and changing environments on the fly, applying what you learned to a variety of scenarios. Management 802 is built to be challenging and will require a desire to deal with ambiguous and shifting circumstances.
MGMT 804 (0.5 cu)
This elective half-semester course focuses on venture capital management issues in the context of the typical high-growth potential early stage start-up company. The course is fundamentally pragmatic in its outlook. It will cover seven principal areas relevant to the privately held high-growth start-up which include: commentary on the venture capital industry generally, as well as a discussion of the typical venture fund structure and related venture capital objectives and investment strategies; common organizational issues encountered in the formation of a venture backed start-up, including issues relating to initial capitalization, intellectual property and early stage equity arrangements; valuation methodologies that form the basis of the negotiation between the entrepreneur and the venture capitalist in anticipation of a venture investment; the challenges of fundraising, financing strategies and the importance of the business plan and the typical dynamics that play out between VC and entrepreneur; typical investment terms found in the term sheet and the dynamics of negotiation between the entrepreneur and the venture capitalist; compensation practices in a venture capital backed company; and corporate governance in the context of a privately-held, venture capital-backed start-up company and the typical dynamics that play out between VC and entrepreneur in an insider-led, “down round” financing.
MGMT 809 (0.5cu)
The course investigates the private equity industry in emerging markets. The goal of the course is to give students a realistic understanding of the roles, responsibilities and analytical skills required of market practitioners, as well as the tensions that arise between various stakeholders, including government officials, investors, entrepreneurs, and the press. The underlying premise is that private equity in those countries has evolved as a distinctly different asset class from private equity in industrialized countries in areas such as valuations, governance, structure, contract enforcement and regulatory transparency. The course will require high level of preparation and class participation. Classes will be a mix of guest speakers from the industry and business cases, to provide students with a practical grasp of the private equity industry and the particular issues involved with how the business works in emerging markets. Cases will highlight the challenges and tasks at each stage of the investment cycle, such as structuring a new fund, originating new deals, conducting due diligence, creating value and monitoring performance of portfolio companies, and exiting.
MGMT 810 (1.0 cu)
This is a course on creating a business to attack a social problem and thereby accomplish both social impact and financial sustainability. For this course, social entrepreneurship is defined as entrepreneurship used to profitably confront social problems. This definition therefore views social entrepreneurship as a distinct alternative to public sector initiatives. The basic thesis is that many social problems, if looked at through an entrepreneurial lens, create opportunity for someone to launch a venture that generates profits by alleviating that social problem. This sets in motion a virtuous cycle – the entrepreneur is incented to generate more profits and in so doing, the more the profits made, the more the problem is alleviated. Even if it is not possible to eventually create a profit-making enterprise, the process of striving to do so can lead to a resource-lean not-for-profit entity.
Creating a profitable social entrepreneurship venture is by no means a simple challenge. It involves deeply understanding how to prioritize a multi-mission entity, how to analyze and engage traditional agencies, how to formulate political strategies to develop influence and social assets in target beneficiary markets, how to forge negotiating strategies for securing resources, how to capture publicity for the enterprise, and generally how to minimize resource requirements. Students in teams will develop a PowerPoint deck proposing a social enterprise start up using the tools and principles of the course.
MGMT 811 (0.5 cu)
MGMT 811 focuses on the theoretical, strategic, analytics, and practical issues of acquiring a business. Topics include: locating a business, due diligence, reviewing and analyzing data, valuation, raising capital/financing the deal, structuring the acquisition, letters of intent, contracts/asset purchase agreements, and integrating the target.
This course is designed for those persons who desire to understand the distinct strategies and practices of family-controlled companies and family wealth creation. It will focus on stakeholder decision making; financial and resource driven options for long-run competitiveness, organizational structures, management team issues; strategic planning from a resource-based perspective; transition planning for the corporate entity, family dynamics, communication issues; and leadership empowerment. The course is intended for those who plan to consult or provide professional services to family-controlled companies and for those planning a career in a family firm. The class is structured around topical lectures with frequent utilization of case studies requiring active class participation, as well as on-site and off-site project work time. Submission of several written case studies, and a term project are required.