MGMT 427Managing an Entrepreneurial Start-Up Company

3 credits · Management · Penn State

Exploration of the tensions and experiences of starting and growing a new company. MGMT 427 Managing an Entrepreneurial Start-Up Company (3)Start-up companies have a high failure rate. Acquiring and balancing limited resources, changing direction quickly, building a coherent team, managing intellectual property, and creating new markets all test a wide range of managerial skills not usually demanded in one person within a larger organization. Whereas a large company has a strong and well-defined structure and ample resources to deal with unexpected challenges, a start-up usually has insufficient resources, or management experience and yet must deal with daily important and often unpredictable forces. It is the tenacity of an entrepreneur that can take a company through the valleys of despair to eventually succeed. Students will be exposed to these tensions and experience through problem-based learning methods what it is like to start and grow a new company. The course will provide students with knowledge and experience to increase the likelihood of success whether as a principal in a small company or an investor representative.