students from Venture Creation class 

Venture Creation

Entrepreneurship is assuming the risks to transform ideas
into sustainable enterprises that create value.


What is MGT 472?

A project-based course for students with an entrepreneurial interest to focus on the launch and first five years of business development. While idea generation is a factor in the process, the main exercise is to turn an opportunity into a viable business from conception to growth to harvest. The challenging objective will be to build a replicable business model that generates profits and positively contributes to the economy and to society in today's competitive, fast-paced global markets.

Learning Objectives

  • Learn to think differently.
  • Consider alternative career options.
  • Gain exposure to the world of start-ups.
  • Create high performance and winning teams.
  • Create a viable plan for a fundamentally sound business.

Goal

Launch a business!


Topics

  • Timing and forecasting
  • Market research and analysis
  • Business models and the value proposition
  • Business-level strategies, growth and exit strategies
  • Organizational design, flow and scale
  • Risk assessment, measuring results, and securing financing
  • Formalizing and pitching the plan

Venture Teams

Students are interviewed and placed into venture teams of 3 to 4 individuals based on skill sets and interests and a mix of business to non-business majors. A seasoned entrepreneur and a Master of Accounting student, acting as the CPA, are assigned to each team. Venture teams are responsible to initiate and execute the development of their business concept. Teams attend regular coaching sessions and individuals may be moved to another team at any time to make the best use of his/her skills in order to achieve high performing teams.
How to Apply

To apply, fill out this application, and email the completed form to Carol Hamilton at hamil1cw@jmu.edu.