Degree Information

Western Carolina University is the leader in entrepreneurship education in the University of North Carolina system. Seven years ago the University created the Bachelor of Science in Business Administration with an entrepreneurship major that consists of seven entrepreneurship courses and is the fastest growing major at the College of Business. In 2008 the University will offer a new degree, a Bachelor of Science in Entrepreneurship, one of the first programs of its type in the country.

In 2003 WCU offered the first Master’s Degree in Entrepreneurship in the nation. It is a truism that one is known by the company that one keeps. Our Master of Entrepreneurship Program was recognized as the model Master of Entrepreneurship degree program by the United States Association of Small Business and Entrepreneurship in 2004. Other programs that have been recognized include Harvard, Wake Forest, University of Arizona, UNC Chapel Hill, University of Indiana, University of Georgia, and the University of Texas. We are delighted to be considered as an equal with these well known and highly respected institutions of higher education!

Our Master of Entrepreneurship degree program is different. Unlike many other programs, ALL of the courses in our program are entrepreneurship courses, not a group of courses cobbled together from other disciplines to make up an entrepreneurship degree. Our program offers students the opportunity to learn the skills necessary to take an idea and commercialize it, learning how to start a new venture and turn the venture into a sustainable business that creates jobs and rewards for the entrepreneur.

Our Master of Entrepreneurship degree program is different. All members of our faculty have significant experience as entrepreneurs as well as having earned their doctorate degrees. Our program is accredited by the American Association of Colleges and Schools of Business. Our program is taught entirely on-line. The first time most of our students meet each other is at graduation!

If you are interested in joining other nescient entrepreneurs, apply to become a student. If you have questions about our program, please contact Dr. Frank S. Lockwood, Program Director at lockwood@wcu.edu.

Description

Mission

The mission of the Master of Entrepreneurship degree is to inculcate entrepreneurial vision and entrepreneurial will in our graduates. The first part of our mission requires that we develop in our graduates the skills to identify entrepreneurial opportunities that exist: those opportunities that represent untapped markets and underserved markets; and those opportunities that can be created by applying existing technologies to new fields and new markets. Of equal importance is the requirement to develop the skills to create entrepreneurial opportunities: the invention, development, and exploitation of entirely new ideas, products, and services; and the creation of new industries, infrastructures, and ways of doing business.

The second part of our mission requires that we develop the self confidence in our graduates that is required to actually establish and grow entrepreneurial ventures. Self confidence comes from the mastery of entrepreneurial skills necessary to start a venture, establish it successfully in a competitive marketplace, to grow the venture effectively, to develop value in the venture, and, ultimately to harvest it.

Our mission encompasses all types of entrepreneurial ventures,: not for profit and government venues; and for profit business ventures.

Learning Objectives

Students completing the Master of Entrepreneurship degree will learn how to:

Be innovative and creative thinkers who will recognize entrepreneurial opportunities and recognize when entrepreneurial opportunities can be created.
Create and establish successful entrepreneurial ventures.
Lead entrepreneurial ventures.
Develop and maintain an ethical culture within an entrepreneurial venture.
Communicate effectively with the internal constituencies of an entrepreneurial venture, including officers, managers, employees, and agents.
Communicate effectively with the external constituencies of an entrepreneurial venture, including customers, investors, lenders, suppliers, and regulatory agencies.
Build and grow successful entrepreneurial ventures.
Maintain and harvest entrepreneurial ventures successfully.

Curriculum

FALL - SEMESTER #1

ENTREPRENEURIAL PLANNING (ENT 620)
Tools for venture creation and management including marketing, accounting, risk management, human resources, legal issues, and intellectual property.

Course requires the completion of case studies that deal with venture planning.

ENTREPRENEURIAL CREATION (ENT 610)
Examination of the resources, demand, industry, and competitive forces and strategies required for successful entrepreneurial activities.

Course requires the completion of a vision statement.

SPRING – SEMESTER #2

ENTREPRENEURIAL GROWTH (ENT 630)
Venture expansion analysis, global competitiveness, development of distinctive competencies, and growth potential, including e-commerce and international operations.

Course requires the completion of case studies that deal with leadership issues.

ENTREPRENEURIAL FINANCE (ENT 640)
Financial forecasting to include pro forma cash flow development and the design and development of reporting systems.

Course requires the development of pro forma financial statements necessary for a new venture launch and the demonstration of the feasibility of that venture.

SUMMER – SEMESTER #3

ENTREPRENEURIAL INNOVATION (ENT 601)
Examination of invention, enhancement, originality, divergent thinking, and innovation in research, development, enhancement, and strategy in businesses and organizations.

Course requires the completion of a creative project.

TOPICS IN ENTREPRENEURSHIP (ENT 625)
Culmination of three semesters of work leading to the creation of a business plan that is capable of supporting substantial financial investment.

Course requires the completion of a financing business plan.

FALL – SEMESTER #4

ENTREPRENEURIAL RESEARCH (ENT 675)
Data collection, statistical analysis and meta-analysis, critical evaluation and theoretical development.

Course requires the completion of a provisional patent or trademark application.

ADVANCED ENTREPRENEURIAL FINANCE (ENT 650)
Financial statements analysis, performance and sensitivity analysis and sources and types of debt and equity financing.

Course requires the completion of harvesting plan – go public, ESOP, merger, etc.

SPRING – SEMESTER #5

ENTREPRENEURIAL STRATEGY (ENT 670)
Strategic leadership, deliberate strategy, environmental scanning, competitive assessment, entrepreneurial vision and communication.

Course requires the completion case studies in strategic planning.

ENTREPRENEURIAL LEADERSHIP (ENT 660)
Establishing and changing organizational culture, communications and leadership style, vision change and inculcation.

Course requires the completion of a research paper which develops a personal philosophy of entrepreneurial leadership

GRADUATION

All graduates are invited to attend the graduation ceremonies on our beautiful campus in the Smoky Mountains of western North Carolina. Those that come will have the opportunity to meet other members of the cohort and to meet Dr. Carton and Dr. Lockwood. For many, this will be the first time you will meet your classmates face-to-face.