New Entrepreneurship minor to meet industry demand
UM-Dearborn will begin offering the minor this fall.
University of Michigan-Dearborn’s College of Business (COB) will offer a new Entrepreneurship minor beginning this fall in response to an increased industry demand for entrepreneurial thinkers.
Entrepreneurship is not a qualification you would expect to see on a job posting, but today companies want their staff to think outside the box, according to Tim Davis, director of the University of Michigan-Dearborn’s Center for Innovation Research (iLabs).
“Employers don’t want to hire someone simply to fill a position, but rather, someone who can create and capture value. This strategic way of thinking ultimately helps a company to grow, and it is not limited to the business industry,” said Davis, who teaches one of the courses in the minor.
The 12-credit minor includes three courses in entrepreneurship, but also allows students to choose a fourth course from a list representing all four colleges on campus. In addition, students are required to complete an experiential capstone project, where they can intern for a new or growing small business. Alternatively, students can elect to work individually or as a team to develop a new product or service. As Davis explained, “The best way for students to develop entrepreneurial skills is through practice, iteration and experiences, and the capstone allows them to do just that.”
Crystal Scott, assistant dean and associate professor of marketing, agrees the minor could benefit all types of students. Scott, who also teaches in the program, explained, “The addition of the entrepreneurship minor gives students across campus the opportunity to engage in a way of thinking they might not have been exposed to in their current degree program. Students outside of COB could really benefit from these courses, and the minor is designed to allow them to tailor it to their passion and interests.”
The minor would be useful for students who would like to start a business or work for a small business that is hoping to expand. Topics in the new minor include entrepreneurial behavior, new venture planning, and corporate entrepreneurship.