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Entrepreneurship Minor

Management Studies
Labovitz School of Business and Economics
  • Program Type: Undergraduate minor related to major
  • Requirements for this program are current for Fall 2022
  • Required credits in this minor: 12 to 31
Entrepreneurship focuses on the creation of social and economic value by developing core capabilities of idea generation, opportunity recognition, resource acquisition, and entrepreneurial management. The skills and competencies gained by studying entrepreneurship are vital for the success of any business or organization such as nascent startup, corporation, family, nonprofit, global, or franchise. The Entrepreneurship Minor is an interdisciplinary business minor that augments any degree program in which students learn about product/idea generation, resource acquisition, and aspects of entrepreneurial and new venture management. The minor provides knowledge and skills to develop new products, services, and organizations providing social and economic value. The minor is designed to supplement any major such that students acquire capabilities needed to mobilize the support necessary for the creation of new products and services and/or the creation of one's own company.
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
Admission Requirements
Students must complete 60 credits before admission to the program.
A GPA above 2.0 is preferred for the following:
  • 2.60 already admitted to the degree-granting college
  • 2.60 transferring from another University of Minnesota college
  • 2.60 transferring from outside the University
LSBE majors must meet all pre-major BBA or BAc requirements before applying for candidacy, and the form to declare an Entrepreneurship Minor may be submitted with the application for candidacy or any time after formal admission to an LSBE degree program. Economics BA and Non-LSBE students must have a minimum overall and UM GPA of 2.60 and 2.00 in LSBE courses and completion of the pre-minor core are required for automatic admission to this minor. Students with GPAs between 2.00 and 2.59 should consult with the LSBE Advising and Academic Services Office.
For information about University of Minnesota admission requirements, visit the Office of Admissions website.
Minor Requirements
Program Sub-plans
Students are required to complete one of the following sub-plans.
Entrepreneurship for BAA/BAcc Students
This subplan requires 12 credits.
Requirements (12 cr)
BLAW 3201 - Law for Entrepreneurs (3.0 cr)
Entrepreneurship
MGTS 4472 - Entrepreneurship (3.0 cr)
or MGTS 5472 -  Entrepreneurship (3.0 cr)
MGTS 4921 - Entrepreneurial Finance (3.0 cr)
or MGTS 5921 - Entrepreneurial Finance (3.0 cr)
Elective
Take 1 or more course(s) totaling 3 or more credit(s) from the following:
· MGTS 4443 - Teams in Organizations (3.0 cr)
· MGTS 4473 - Management of Innovation and Technology (3.0 cr)
· MGTS 4475 - Negotiations, Bargaining and Conflict Resolution (3.0 cr)
· MGTS 4478 - Supply Chain Management (3.0 cr)
· MGTS 4931 - Family Business Management (3.0 cr)
· MGTS 4941 - Social Entrepreneurship (3.0 cr)
· MKTG 3721 - Social Media Marketing (3.0 cr)
· MKTG 4741 - Developing and Marketing New Products (3.0 cr)
Entrepreneurship for Economics BA and non LSBE Students
This subplan requires 27 - 31 credits.
Pre-Minor Core (15 - 19 cr)
Accounting
ACCT 2001 - Principles of Financial Accounting (3.0 cr)
or ACCT 2005 - Survey of Accounting [LE CAT] (3.0 cr)
Statistics
ECON 2030 - Applied Statistics for Business and Economics [LOGIC & QR] (3.0 cr)
or STAT 1411 - Introduction to Statistics [LE CAT, LOGIC & QR] (3.0 cr)
or STAT 2411 - Statistical Methods [LE CAT, LOGIC & QR] (3.0 cr)
or STAT 3411 - Engineering Statistics (3.0 cr)
or STAT 3611 - Introduction to Probability and Statistics (4.0 cr)
or PSY 3020 - Statistical Methods (4.0 cr)
or SOC 3155 - Quantitative Research Methods and Analysis (4.0 cr)
Business
MIS 2201 - Information Technology in Business (3.0 cr)
MGTS 1101 - Introduction to Business [LE CAT8] (3.0 cr)
Economics
ECON 1003 - Economics and Society [LE CAT, SOC SCI] (3.0 cr)
or ECON 1022 - Principles of Economics: Macro [LE CAT, SOC SCI] (3.0 cr)
ECON 1023 - Principles of Economics: Micro [LE CAT, SOC SCI] (3.0 cr)
Requirements (12 cr)
BLAW 3201 - Law for Entrepreneurs (3.0 cr)
MGTS 4472 - Entrepreneurship (3.0 cr)
or MGTS 5472 -  Entrepreneurship (3.0 cr)
MGTS 4921 - Entrepreneurial Finance (3.0 cr)
or MGTS 5921 - Entrepreneurial Finance (3.0 cr)
Elective
Take 1 or more course(s) totaling 3 or more credit(s) from the following:
· MGTS 4443 - Teams in Organizations (3.0 cr)
· MGTS 4473 - Management of Innovation and Technology (3.0 cr)
· MGTS 4475 - Negotiations, Bargaining and Conflict Resolution (3.0 cr)
· MGTS 4931 - Family Business Management (3.0 cr)
· MGTS 4941 - Social Entrepreneurship (3.0 cr)
· MKTG 3721 - Social Media Marketing (3.0 cr)
· MKTG 4741 - Developing and Marketing New Products (3.0 cr)
 
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BLAW 3201 - Law for Entrepreneurs
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall
Introduction to legal topics relevant to entrepreneurs, including law of agency, government regulation of employment, property and bailments, forms of business organizations bankruptcy. prereq: LSBE candidate or college consent
MGTS 4472 - Entrepreneurship
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall
Seminar on the fundamentals of entrepreneurship, the characteristics of entrepreneurs, and the life cycle of a new venture: creating and starting a new venture; financing the new venture; managing, growing, and ending the new venture. prereq: LSBE candidate or approved non-LSBE Organizational Management minor or college consent
MGTS 5472 - Entrepreneurship
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Seminar on the fundamentals of entrepreneurship, the characteristics of entrepreneurs, and the life cycle of a new venture: creating and starting a new venture; financing the new venture; managing, growing, and ending the new venture. pre-req: MBA student or instructor consent
MGTS 4921 - Entrepreneurial Finance
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Course topics include raising seed and growth capital from venture capital, business angels, investment banking, commercial banking, and bootstrapping sources, and understanding financial problems unique to the small and medium sized firms undergoing rapid growth. The course examines proposals made to venture capital firms, particularly in terms of their financial viability as well as financial management for entrepreneurs over the life of business project. Includes financing start-ups, financial planning for the nonpublic smaller enterprise, going public, selling out, bankruptcy, sources of capital, and other related topics. prereq: LSBE candidate, FIN 3601, MGTS 4472/5472, no grad credit
MGTS 5921 - Entrepreneurial Finance
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Course topics include raising seed and growth capital from venture capital, business angels, investment banking, commercial banking, and bootstrapping sources, and understanding financial problems unique to the small and medium sized firms undergoing rapid growth. The course examines proposals made to venture capital firms, particularly in terms of their financial viability as well as financial management for entrepreneurs over the life of business project. Includes financing start-ups, financial planning for the nonpublic smaller enterprise, going public, selling out, bankruptcy, sources of capital, and other related topics. pre-req: FIN 3601, MBA student or instructor consent
MGTS 4443 - Teams in Organizations
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Periodic Fall & Spring
Examines effective design and management of a variety of groups in organizations, including work groups, task forces, self-managed teams and coalitions. Covers group composition, goals, processes, and effectiveness; includes leadership, managing external relationships, and performance measurement. prereq: LSBE candidate, 3401 or instructor consent
MGTS 4473 - Management of Innovation and Technology
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Periodic Fall
Issues related to achieving maximum leverage from innovation competencies, skills, and resources. Factors distinguishing high-innovation companies, strategies for innovation, internal and external conditions, and market consequences of innovation. Integration of technology within the strategic management process. prereq: 3401, LSBE candidate or college consent
MGTS 4475 - Negotiations, Bargaining and Conflict Resolution
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Periodic Fall & Spring
Combines theory, best practices, and case studies on the negotiation process to develop your understanding and competency of negotiating agreements and resolving conflicts in business. Covers topics and strategies appropriate for use between people, departments, and organizations across a variety of circumstances. prereq: LSBE candidate, 3401 or instructor consent
MGTS 4478 - Supply Chain Management
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Key drivers of supply chain performance will be explored in this course along with how these drivers may be used to improve performance on a practical level during supply chain design, planning, and operations. Students will gain a solid understanding of the analytical tools necessary to solve supply chain problems. pre-req: MGTS 3301 or IE 3115, or IE 5315 or EE 3151 or MATH 5810 or STAT 4531 or STAT 5531, or instructor consent; no grad credit
MGTS 4931 - Family Business Management
Credits: 3.0 [max 3.0]
Prerequisites: 3401 or 3801, 4472, LSBE candidate or college consent; no grad credit
Grading Basis: A-F or Aud
Typically offered: Every Spring & Summer
Family Business Management provides an introduction to understanding family owned, controlled, and influenced businesses. Family Businesses are the most prevalent form of business organization all over the world. The course introduces the unique issues that arise due to the interaction of the family system with the business system. Issues such as governance, entrepreneurship, succession, growth, internationalization, strategy, and leadership are discussed in the context of family business management. The influence of family on the business values, goals, behavior, and performance is described. Finally, the management of non-family employees in family businesses is covered. prereq: 3401 or 3801, 4472, LSBE candidate or college consent; no grad credit
MGTS 4941 - Social Entrepreneurship
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
This course introduces students to the field of social entrepreneurship, the practice of identifying, designing, starting and growing successful mission-driven for profit and nonprofit ventures. These include non-profit enterprises designed to respond to a special social, need, as well as more traditional ventures working to incorporate socially-responsible practices into their business models. The course provides an overview of the processes, challenges, and demands associated with creating ventures that seek to integrate financial and social/environmental benchmarks of success. This course is designed to appeal to those who want to learn more about enterprise in business and social contexts. prereq: LSBE candidate or college consent, no grad credit
MKTG 3721 - Social Media Marketing
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Periodic Fall & Spring
This course provides an overview of various aspects of social media marketing, including: (1) the social media planning process (2) how social media marketing platforms are coordinated with other traditional promotional elements (advertising, public relations, consumer promotion, customer service, personal selling) as a part of an integrated marketing communications campaign. prereq: 3701, LSBE Candidate or Graphic Design with Marketing subplan or college consent
MKTG 4741 - Developing and Marketing New Products
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall
A marketing-oriented new products management course that explores the new product development process with a focus on marketing strategies for the planning, development and launch of new products and services. prereq: MGTS 3701 or MKTG 3701, LSBE candidate or Graphic Design and Marketing majors or Graphic Design with Marketing sub plan major or college consent
ACCT 2001 - Principles of Financial Accounting
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Concepts of financial accounting and external reporting. Nature and measurement of assets, liabilities, equities, revenues, expenses. Emphasis on use and understanding of external financial statements. prereq: Minimum 15 credits or college consent
ACCT 2005 - Survey of Accounting (LE CAT)
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall
Survey of Accounting provides an overview of fundamental concepts and procedures in financial and managerial accounting. The emphasis is on helping students to develop a basic understanding of the contexts of accounting reports provided to decision makers. Credit cannot be applied toward the BAcc or BBA degree programs or the Accounting minor.
ECON 2030 - Applied Statistics for Business and Economics (LOGIC & QR)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Introduction to modern business statistics, emphasizing problem solving applications through statistical decision making using case studies. Topics include organization and presentation of data, summary statistics, distributions, statistical inference including estimation, and hypothesis testing. prereq: minimum 30 credits, LSBE student, pre-business or pre-accounting or Econ BA major or Graphic Design and Marketing major or Graphic Design with Marketing subplan major or Econ minor or Accounting minor or Business Admin minor or Arts Administration; credit will not be granted if already received for Econ 2020, Stat 1411, Stat 2411, Stat 3611, Soc 3151, Psy 3020
STAT 1411 - Introduction to Statistics (LE CAT, LOGIC & QR)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Statistical ideas involved in gathering, describing, and analyzing observational and experimental data. Experimental design, descriptive statistics, correlation and regression, probabilistic models, sampling, and statistical inference. prereq: Math ACT 21 or higher or a grade of at least C- in MATH 0103 or department approval
STAT 2411 - Statistical Methods (LE CAT, LOGIC & QR)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Graphical and numerical descriptions of data, elementary probability, sampling distributions, estimations, confidence intervals, one-sample and two-sample t-test. prereq: Math ACT 24 or higher or a grade of at least C- in Math 1005 or higher or department approval
STAT 3411 - Engineering Statistics
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Statistical considerations in data collection and experimentation. Descriptive statistics, least squares, elementary probability distributions, confidence intervals, significance tests, and analysis of variance as applied analysis of engineering data. prereq: MATH 1297 with a grade of C- or better, cannot be applied to a math or statistics major
STAT 3611 - Introduction to Probability and Statistics
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Basic probability, including combinatorial methods, random variables, mathematical expectation. Binomial, normal, and other standard distributions. Moment-generating functions. Basic statistics, including descriptive statistics and sampling distributions. Estimation and statistical hypothesis testing. prereq: A grade of at least C- in Math 1290 or Math 1296
PSY 3020 - Statistical Methods
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Descriptive statistics; introduction to correlational analysis and regression; sampling techniques and statistical inference; applications of simple and factorial design analysis of variance and other parametric and nonparametric hypothesis-test statistics in the behavioral sciences. prereq: Math ACT 21 or higher or Accuplacer score of 237-300 or higher or MATH 1005
SOC 3155 - Quantitative Research Methods and Analysis
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Descriptive statistics. Measures of central tendency, deviation, association. Inferential statistics focusing on probability and hypothesis testing. T-tests, Chi-square tests, analysis of variance, measures of association, introduction to statistical control. Statistical software (SPSS) used to analyze sociological data. Lab. prereq: 2155, crim major or soc major or URS major, min 30 cr
MIS 2201 - Information Technology in Business
Credits: 3.0 [max 3.0]
Course Equivalencies: FMIS 2201/1201/3201/CS 1011
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Introduction to information technology (IT) concepts: computer hardware and software; use of personal productivity tools (spreadsheet, database, and presentation software); system development processes; Web technologies; applications of IT in business processes. prereq: LSBE major or minor student or Graphic Design and Marketing major or Graphic Design with Marketing subplan major or Computer Information Systems majors or minors, or Arts Administration, minimum 15 credits or college consent; credit will not be granted if already received for FMIS 2201
MGTS 1101 - Introduction to Business (LE CAT8)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Periodic Fall & Spring
Introduction to context, environment, and operation of business and organizations. Study of foundations and functional areas of business and entrepreneurship. Analysis of technological, ethical, diversity, and global issues from business and organizational perspectives.
ECON 1003 - Economics and Society (LE CAT, SOC SCI)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Periodic Spring
General description of U.S. economy and analysis of contemporary economic problems. Introduction to major economic issues and problems of the day, providing a simple framework used by economists for analysis. prereq: Cannot apply credit to economics major or minor or BAc or BBA majors
ECON 1022 - Principles of Economics: Macro (LE CAT, SOC SCI)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Analyzing overall performance of an economic system. National income accounting and theory, unemployment, inflation, fiscal policy, money, monetary policy, economic growth, international trade, non-U.S. economies, and real-world application of these concepts. prereq: Minimum 15 credits or department consent
ECON 1023 - Principles of Economics: Micro (LE CAT, SOC SCI)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Analyzing free enterprise system through study of product and resource markets. Supply and demand, utility, production and cost, market structure, resource use, market failures, regulatory role of government, and real-world application of these concepts. prereq: Minimum 15 credits or department consent
BLAW 3201 - Law for Entrepreneurs
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall
Introduction to legal topics relevant to entrepreneurs, including law of agency, government regulation of employment, property and bailments, forms of business organizations bankruptcy. prereq: LSBE candidate or college consent
MGTS 4472 - Entrepreneurship
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall
Seminar on the fundamentals of entrepreneurship, the characteristics of entrepreneurs, and the life cycle of a new venture: creating and starting a new venture; financing the new venture; managing, growing, and ending the new venture. prereq: LSBE candidate or approved non-LSBE Organizational Management minor or college consent
MGTS 5472 - Entrepreneurship
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Seminar on the fundamentals of entrepreneurship, the characteristics of entrepreneurs, and the life cycle of a new venture: creating and starting a new venture; financing the new venture; managing, growing, and ending the new venture. pre-req: MBA student or instructor consent
MGTS 4921 - Entrepreneurial Finance
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Course topics include raising seed and growth capital from venture capital, business angels, investment banking, commercial banking, and bootstrapping sources, and understanding financial problems unique to the small and medium sized firms undergoing rapid growth. The course examines proposals made to venture capital firms, particularly in terms of their financial viability as well as financial management for entrepreneurs over the life of business project. Includes financing start-ups, financial planning for the nonpublic smaller enterprise, going public, selling out, bankruptcy, sources of capital, and other related topics. prereq: LSBE candidate, FIN 3601, MGTS 4472/5472, no grad credit
MGTS 5921 - Entrepreneurial Finance
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Course topics include raising seed and growth capital from venture capital, business angels, investment banking, commercial banking, and bootstrapping sources, and understanding financial problems unique to the small and medium sized firms undergoing rapid growth. The course examines proposals made to venture capital firms, particularly in terms of their financial viability as well as financial management for entrepreneurs over the life of business project. Includes financing start-ups, financial planning for the nonpublic smaller enterprise, going public, selling out, bankruptcy, sources of capital, and other related topics. pre-req: FIN 3601, MBA student or instructor consent
MGTS 4443 - Teams in Organizations
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Periodic Fall & Spring
Examines effective design and management of a variety of groups in organizations, including work groups, task forces, self-managed teams and coalitions. Covers group composition, goals, processes, and effectiveness; includes leadership, managing external relationships, and performance measurement. prereq: LSBE candidate, 3401 or instructor consent
MGTS 4473 - Management of Innovation and Technology
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Periodic Fall
Issues related to achieving maximum leverage from innovation competencies, skills, and resources. Factors distinguishing high-innovation companies, strategies for innovation, internal and external conditions, and market consequences of innovation. Integration of technology within the strategic management process. prereq: 3401, LSBE candidate or college consent
MGTS 4475 - Negotiations, Bargaining and Conflict Resolution
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Periodic Fall & Spring
Combines theory, best practices, and case studies on the negotiation process to develop your understanding and competency of negotiating agreements and resolving conflicts in business. Covers topics and strategies appropriate for use between people, departments, and organizations across a variety of circumstances. prereq: LSBE candidate, 3401 or instructor consent
MGTS 4931 - Family Business Management
Credits: 3.0 [max 3.0]
Prerequisites: 3401 or 3801, 4472, LSBE candidate or college consent; no grad credit
Grading Basis: A-F or Aud
Typically offered: Every Spring & Summer
Family Business Management provides an introduction to understanding family owned, controlled, and influenced businesses. Family Businesses are the most prevalent form of business organization all over the world. The course introduces the unique issues that arise due to the interaction of the family system with the business system. Issues such as governance, entrepreneurship, succession, growth, internationalization, strategy, and leadership are discussed in the context of family business management. The influence of family on the business values, goals, behavior, and performance is described. Finally, the management of non-family employees in family businesses is covered. prereq: 3401 or 3801, 4472, LSBE candidate or college consent; no grad credit
MGTS 4941 - Social Entrepreneurship
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
This course introduces students to the field of social entrepreneurship, the practice of identifying, designing, starting and growing successful mission-driven for profit and nonprofit ventures. These include non-profit enterprises designed to respond to a special social, need, as well as more traditional ventures working to incorporate socially-responsible practices into their business models. The course provides an overview of the processes, challenges, and demands associated with creating ventures that seek to integrate financial and social/environmental benchmarks of success. This course is designed to appeal to those who want to learn more about enterprise in business and social contexts. prereq: LSBE candidate or college consent, no grad credit
MKTG 3721 - Social Media Marketing
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Periodic Fall & Spring
This course provides an overview of various aspects of social media marketing, including: (1) the social media planning process (2) how social media marketing platforms are coordinated with other traditional promotional elements (advertising, public relations, consumer promotion, customer service, personal selling) as a part of an integrated marketing communications campaign. prereq: 3701, LSBE Candidate or Graphic Design with Marketing subplan or college consent
MKTG 4741 - Developing and Marketing New Products
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall
A marketing-oriented new products management course that explores the new product development process with a focus on marketing strategies for the planning, development and launch of new products and services. prereq: MGTS 3701 or MKTG 3701, LSBE candidate or Graphic Design and Marketing majors or Graphic Design with Marketing sub plan major or college consent