Requirements For The Specialization In Entrepreneurship & Innovation

A Management specialization in Entrepreneurship & Innovation provides a diverse set of options for students to hone their entrepreneurial skills.

4.0 credit units are required for the Entrepreneurship & Innovation specialization.

One credit unit of a Management core course:
MGMT 104 Industrial Relations and Human Resource Management 1.0 cu
MGMT 111 Multinational Management 1.0 cu
MGMT 223 Business Policy 1.0 cu
MGMT 238 Organizational Behavior 1.0 cu
MGMT 272 Power and Politics in Organizations 1.0 cu

 

One credit unit of the foundation course in Entrepreneurship & Innovation:
MGMT 230 Entrepreneurship 1.0 cu
MGMT 235* Technological Innovation & Entrepreneurship 1.0 cu
* Only M & T students can count this course toward the specialization. All other students must take MGMT230.

 

Two credit units of:
FNCE 250 Venture Capital & the Finance of Innovation
HCMG 391 Health Care Entrepreneurship
LGST 213 Legal Aspects of Entrepreneurship
MGMT 212 Social Entrepreneurship
MGMT 231 Venture Implementation
MGMT 233 Strategies & Practices of Family-Controlled Companies
MGMT 237 Management of Technology (M & T students only)
MGMT 251 Consulting to Growth Companies
MGMT 264 Venture Capital & Entrepreneurial Management
MGMT 265 Culture of Technology
MKTG 221 New Product Management
MKTG 241 Entrepreneurial Marketing
OIDD 314 Enabling Technologies
OIDD 415 Product Design
REAL 396 Real Estate Entrepreneurship
WH297x Wharton Industry Exploration Program – San Francisco Bay Area Tech Sector
WH297x Wharton Industry Exploration Program – New York Tech Sector

 

One independent study in a related topic may count toward the specialization. Written permission from Nellie Gaynor, Specalization Advisor, is required. Email her at nelliebk@wharton.upenn.edu.

 

Course Descriptions:

MGMT 212 Social Entrepreneurship

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 230 Entrepreneurship

MGMT 230 integrates the material introduced in the business fundamental courses and applies it to the design and evaluation of new ventures. The purpose of this course is to explore the many dimensions of new venture creation and growth and to foster innovation and new business formations in independent and corporate settings. The course addresses both a theoretical perspective on venture initiation and the application of writing an actual business plan. In this course you are asked to get out of the habit of being a receiver of ideas, facts, concepts and techniques, and get into the habit of generating ideas, identifying problems, analyzing and evaluating alternatives, and formulating workable action plans, thus putting textbook knowledge into practice.  Teams are expected to utilize the tools and analytical approaches discussed in class to their venture.

MGMT 231 Venture Implementation

 This advanced course on entrepreneurship focuses on developing a validated opportunity or concept into a venture that is ready for seed financing and/or launching the product or service. Participants in the course must previously have developed a validated opportunity, either in a previous course or through independent efforts. Students may participate as a team of up to three people. Ideally, participants are committed to pursuing their opportunity commercially, or at least to seriously explore that possibility. The course provides a practical guidance for developing the product or service, forming the entity, raising capital, building the team, establishing partnerships, and sourcing professional services. After completing the course, you will be “pitch ready” – whether submitting to campus venture competitions or to outside investors. Most coursework is focused on applying concepts and frameworks to project tasks in developing the venture. Students must have successfully completed MGMT 230 before enrolling in this course.

MGMT 233 Strategies and Practices of Family-Controlled Companies

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.  There will be in-class discussion, as well as on-site and off-site project work time.

MGMT 251 Consulting to Growth Companies

This course offers students a unique opportunity to develop consulting skills and entrepreneurial expertise by working as consultants to thriving entrepreneurial ventures in the Philadelphia area.  This capstone course combines both fieldwork and class work and allows students to apply knowledge and skills acquired through other course work to real world issues that must be addressed by operating companies.  An understanding of characteristics producing rapid entrepreneurial growth and skills related to effective communication and management of a business relationship are emphasized. Team term consulting assignment, lectures, case analysis, and small group discussions.

MGMT 264 Venture Capital and Entrepreneurial Management

 This course focuses on venture capital management issues in the context of a high-growth potential start-up company. The course is motivated by rapid increases in both the supply of and demand for private equity over the past two decades.  The topic is addressed from two distinct perspectives: issues that relate to the demand for private equity and venture capital (the entrepreneur’s perspective) on the one hand, and issues that relate to the supply of capital (the investor’s perspective) on the other.  As well, we will address management issues that relate to how the VC and the entrepreneur work together once an investment has been made, compensation issues, and governance issues in the privately held venture capital backed company.

MGMT 265 Culture of Technology

Academics, students and practitioners alike are fascinated by the culture of tech sector – its people, practices, and organization.  In this course we explore this sector using a combination of research papers, press coverage, and practitioner involvement.  Each class session will be devoted to discussion of a single research article, during which we will be joined via state-of-the-art videoconferencing technology by a Wharton alum from the tech sector whose expertise is relevant to the paper topic.  Therefore, the learning objectives of this half-credit course are to: 1) understand the managerial, organizational, and regional institutions that characterize the tech sector, with particular emphasis on the case of Silicon Valley; 2) Bridge research and practice by critical analysis of academic research papers in conjunction with practitioner input; and 3) Forge connections with tech sector practitioners, particularly with our west coast alumni base. Registration is by application only. Penn In Touch requests will not be processed. Enrollment is limited.