TRU
Business and Economics

Entrepreneurship Major/Minor

Developing the entrepreneurial abilities and spirit of Canadians is critical in generating a dynamic economy that can compete globally and provide a growing standard of living. The risks of owning a small business are significant and the hours are generally quite long, but there is no better feeling than that which comes from launching a successful new business venture and being respected by one’s fellow citizens for making a contribution to the local community. Opportunities for new venture creation in Canada are very good due to a vibrant economy, a stable political environment, and close proximity to the US market. For creative people with a strong work ethic and a lower aversion to risk, a career as an entrepreneur may be the right choice.

Entrepreneurship Majors will learn to research new business ideas, prepare formal business plans, secure initial financing, and manage small businesses on an on-going basis. After graduation, it is hoped that many students will start-up their own ventures after acquiring some valuable industry experience and saving needed equity capital. A few will also return home to work in the family firm with the hope of eventually taking over.

Entrepreneurial skills are also important to managers in larger organizations. "Intrapreneurs" as they are called do many of the same things that an entrepreneur would — develop new product ideas, prepare business plans and secure financing — without operating their own small businesses. Larger organizations are naturally less innovative than small start-ups due to their bureaucratic nature, so being able to attract managers with strong entrepreneurial skills is critical to their success. Large companies that can create an innovative environment do very well especially when you combine it with their easier access to financing.

Entrepreneurship Major graduates are well qualified to pursue a master degree in the field, and possibly a PhD if they wish to pursue a career in teaching and research.

For those students wanting only an exposure to entrepreneursip, an Entrepreneurship Minor is also available.

 Learning objectives

Upon completion of this program, students are able to:

  1. Develop a market research plan to analyze the business environment and consumer and business-to-business behaviour using appropriate primary and secondary data sources.
  2. Adapt marketing plans to incorporate the unique operating characteristics of a start-up venture.
  3. Manage the financial affairs of a small business enterprise.
  4. Incorporate the taxation of employment, business, and property income including capital gains in business decision-making.
  5. Create and launch new products and services utilizing effective marketing processes and tools.
  6. Use e-commerce techniques to aid in the execution of marketing plans.
  7. Construct and promote a comprehensive business plan for a business opportunity based on thorough market research and accurate financial projections.
  8. Manage the organizational, operational and financial aspects of starting and managing a small business.
  9. Perform inside and outside valuation on existing businesses and franchises.
  10. Demonstrate the skills, values, and attitudes needed for success as an entrepreneur.
 Major requirements

The requirements for this program have been revised and are effective beginning in September 2016. Students admitted prior to September 2016 have the option of remaining in their original program or completing the revised program outlined below. Students should contact an academic advisor if they are uncertain of their course selection.

MKTG 3450 Professional Selling
ENTR 3710 Marketing for Entrepreneurs
ENTR 3720 Small Business Finance
MKTG 4412 New Product Development
ENTR 4750 New Venture Creation
ENTR 4760 Small Business Management
At least two of:
ACCT 3260 Taxation for Decision-Making
MKTG 3480 Market Research
HRMN 3830 Human Resource Planning and Staffing
MKTG 4450 E-Commerce
 Minor requirements
ENTR 3710 Marketing for Entrepreneurs
ENTR 3720 Small Business Finance
ENTR 4750 New Venture Creation
ENTR 4760 Small Business Management