Master in Entrepreneurship

Anita Roddick, the founder of The Body Shop once said, "Nobody talks about entrepreneurship as survival, but that's exactly what it is and what nurtures creative thinking. Running that first shop taught me business is not financial science; it's about trading: buying and selling. The master in entrepreneurship degree program aims to teach you what you need to know about both the financial science and trading aspect of a new venture.

Program Objectives
The master's degree in entrepreneurship is a highly specialized degree. Unlike other business degrees, it does not teach its students to be good workers, managers, and employees; rather it instills in them a sense and knowledge of good leadership. While this is the broad goal of all entrepreneurship programs, the more specified program objectives are:

• Develop an appreciation of the nature of entrepreneurship
• Increase the awareness of the need of entrepreneurship and its importance to society and societal well being
• Build student competencies in areas of entrepreneurial focus such as risk management, business planning, and opportunity recognition
• Teach students the skills needed to communicate and conceptualize complex challenges present in the economic marketplace
• Allow and expect students to present high ethical standards

Most entrepreneurship degrees aim to help students develop a viable, marketable, and innovative business idea which they present at the end of the degree program and are expected to launch following graduation.

Admission Requirements
It should come as no surprise that the master's degree in entrepreneurship program requires students that are already entrepreneurially inclined. To show that you have thought about starting your own venture, you must have previously completed a bachelor's degree in entrepreneurship, have some experience with a new venture, or may have been employed by a start-up.

The other common entry requirements are:

• Bachelor's degree and a GPA that meets the minimum requirement
• GMAT test score
• New venture proposal
• Completed application form
• Transcripts of previous diplomas and degrees
• Personal Statement

If the master's program you are applying to is an MBA, then an important entry requirement will be the related work experience in either your own venture or in any other company.

Curriculum
There are two available entrepreneurship master's degree programs. One is the MS in Entrepreneurship which has variations such as the MSc in Entrepreneurship and the MSE degree. The second is the MBA with a focus on entrepreneurship. The MBA focuses more on business administration related courses involved in the running of a new venture; while the MSE is more specialized and focuses on theories applied to starting of a business. The curriculum based on entrepreneurship is somewhat similar in both degree programs. The most commonly offered required courses are:

• Corporate Entrepreneurship
• Cases in Feasibility Analysis
• Technology Feasibility
• Venture Initiation
• Consumer Behavior
• Leading Innovation and Change

The most commonly offered interdepartmental elective courses are:

• Cases in New Venture Management
• Technology Commercialization
• Investing in New Ventures
• Social Entrepreneurship
• Designing Spreadsheet Based Models
• Sales Management: The Art and Science of Sales
• New Product Development
• Alliances and Corporate Strategy
• Interpersonal Influence and Power

Career Prospects
As a graduate with a master's degree in entrepreneurship, you will be expected to start a new business venture on your own or with a partner. The venture may be in any field of your choosing, in either the private or the public sector. The focus will always be on an innovative new venture creation.