New entrepreneurship minor offered as business alternative

This fall, the Kelley School of Business will offer a new entrepreneurship and small business management minor program for undergraduate students. The Kelley School expects approximately 50 to 100 students will take part in the new course offering.\nThe minor in entrepreneurship focuses on the requirements for an individual who is concentrating in management but is still interested in small business. Skills and knowledge covered in this particular field of study include basic business skills and knowledge needed for creating and managing a small business.\nThe program, which will be offered as an alternative to IU's traditional minor in business, will allow students to pursue their career goals, while at the same time incorporating business essentials into an IU education. \nMarc J. Dollinger, chair of undergraduate programs in the Kelley School, said in a press release, "The new program is intended for students who have business aspirations and goals that will require entrepreneurial skills." \nDollinger said many corporations are hiring students with liberal arts degrees because business schools cannot fully meet their placement demands.\n"When we first designed the program, we thought of computer science students who didn't require the full corporate treatment but who want to be savvy in business," Dollinger said in the press release.\nThe program should catch the attention of students who want to apply their knowledge in another field toward a start-up company or an existing family business, Dollinger said\n"This new minor will give us an opportunity to advance the spirit and practice of entrepreneurship in Indiana and the Midwest," said Elizabeth J. Gatewood, the Jack M. Gill Chair of entrepreneurship, who directs IU's Johnson Center for entrepreneurship and Innovation. "We started the program recognizing that there are other students with other majors that are interested in starting their own businesses. This new minor focusing on entrepreneurship will be a great match for students who are in schools other than the Kelley School of Business and who want to be employed in the corporate world."\nGatewood also said she hopes the result will be more students starting businesses in Indiana. \n"We don't know how popular it will be, but we expect it to be very popular. As an outcome, we hope more students will start businesses in Indiana." \nTo enhance course work in the program, the Johnson Center will provide additional speakers, seminars and special events for students.\n"The entrepreneurship program is nationally ranked. It is very broad," said Patricia Phillips McDougall, professor of strategic management in the Kelley School. "We are adding a Ph.D major in entrepreneurship. There are only around three other programs in the United States. This is an active outreach program for Indiana residents."\n"We are trying to stop some of the brain drain to create entrepreneurship opportunities for the IU student so they don't have to go out of state to find jobs," McDougall added.\nTaking into consideration the media's strong interest in business news, Dollinger said, "We expect journalism students to be interested because they may be covering business some day."\nAs part of the new program, students will take courses in accounting, business law, marketing, entrepreneurship and small business management. A student must complete 26 credit hours to graduate with the minor.