Minot state adds new major to the business department
The Minot State University College of Business added entrepreneurship to its list of majors. Entrepreneurship is the newest addition to the catalog at the beginning of the 2018 fall semester, with the certificate being allowed in the spring of 2018.
“The major is looking at three elements of entrepreneurship — new startups, corporate entrepreneurships, where you’re an entrepreneur within a corporation, and then we also look at small business management,” Tracy Mays, assistant professor of business said.
The new program is a bachelor of science in entrepreneurship, which requires students in the program to receive 120 credit hours and then thirty hours in entrepreneurship courses.
“We want to broaden our graduates’ possibilities to owning, taking over, or running small businesses or corporations,” Mays said. “This degree will add that. There is a breadth of what can be accomplished, not just simply one area.”
When deciding to bring entrepreneurship in as a new major and minor, Minot State University did some marketing research to see how this would benefit the college.
“We had someone take a look at the local area. We interviewed some high school students and current Minot State business students and most of them said they would be interested in entrepreneurship as a major, so based off that market research, we wanted to find a way to develop something that can be suitable for the needs of our particular perspective and current students,” Mays said.
Business students can now choose to take the route of a traditional management degree or lean more toward the entrepreneurship degree.
“The entrepreneurship degree is along the lines with a management degree because obviously they are so similar. With entrepreneurship, you learn how to start your own business. You will receive tools and resources on how to start a business, how to grow a business, how to harvest a business, and how to manage a business, so entrepreneurship adds those extra elements beyond just management like you would for just a management degree,” Mays said. “Students who are going towards their entrepreneurship degree will have to develop an entrepreneurship portfolio in order for them to graduate. The portfolio is something students can demonstrate and show to prospective employers or even if they are going out to create a new business that they can provide for potential investors or lenders to show them what they have created.”
The business program’s new major has a number of students who are thrilled to be enrolling in classes for the entrepreneurship major.
“We have gotten an overwhelmingly positive response thus far,” Mays said. “The last time I've checked, we’ve already had fifteen declared majors. We have already had students graduate in the certificate program, which was added last spring, and we actually have one student who will be graduating this semester with an entrepreneurship major.’’