Tuesday, Aug. 18, 2009
K-STATE OFFERING A NEW MAJOR IN ENTREPRENEURSHIP
MANHATTAN -- Students looking to launch their own business someday can learn the latest techniques with the new academic major in entrepreneurship offered by Kansas State University's College of Business Administration.
Growing demand for programs in entrepreneurship and the desire to build an entrepreneurial culture at K-State are among the reasons for the major, said Yar M. Ebadi, dean of the College of Business Administration.
"It is the challenge of entrepreneurship educators to prepare the next generation to serve as catalysts to help sustain social and economic development," Ebadi said.
The major will teach students about the various aspects of the entrepreneurial process. They'll learn how to research and write a business plan, seek startup funding, invest in the business's future and how best to market their business.
"With the advent of the new entrepreneurship major, K-State will play a major role in turning out entrepreneurship graduates who are well-prepared, motivated and connected for success," Ebadi said.
The major is under the direction of Jeff Hornsby, the Jack Vanier Chair of Innovation and Entrepreneurship and director of the College of Business Administration's Center for the Advancement of Entrepreneurship. The center is charged with encouraging entrepreneurship by developing a curriculum, universitywide initiatives and community outreach programs.
"A program like this is especially important given our current economic times," Hornsby said. "It is the spirit of entrepreneurism that has brought us out of past recessions and should lead us out of our current one as well."
Hornsby said that it is important for students to understand how risky entrepreneurial ventures can be and learn strategies to minimize that risk.
"In our program, students will gain the knowledge and receive hands-on mentoring to identify entrepreneurial opportunities and create effective venture business plans," he said.
Students also will gain an understanding of the concepts of corporate entrepreneurship -- acting entrepreneurially in already existing organizations -- and social entrepreneurship -- starting a nonprofit or other venture where social good is the motive, not profit.
In addition to the new major, the Center for the Advancement of Entrepreneurship is planning a minor in entrepreneurship with the goal of launching in fall 2010. The minor will be open to students in all colleges.