COMM 497 - New Enterprise Development
This is an overview course for students in Year 4 who are not completing the Entrepreneurship concentration but would like exposure to the field of entrepreneurship and may be considering becoming entrepreneurs in the near or more distant future. It is also useful to anyone who expects to be interacting with entrepreneurs in their business careers, be it as private investors, venture capitalists, consultants or customers.
It provides a background for the selection, planning and execution of entrepreneurial ideas as well as examining the challenges facing any would-be entrepreneur in the real world. This includes developing business models and strategies for innovative products or services, strategies for creating a viable organization and strategies for acquiring resources, particularly financing.
The emphasis in this course is on applying concepts and techniques from various functional specialties within the context of new venture development through the creation of a business plan and the analysis of cases.
Students who took COMM 486T - Fundamentals of Entrepreneurship may receive credit for only one of COMM 486T and COMM 497 (in such cases, COMM 486T may not be used to satisfy the COMM 49x requirement). Students who take COMM 486T - The Economics of Entrepreneurship and Innovation may take COMM 497 and receive credit for both courses.
Students may receive credit for only one of COMM 486Y and COMM 497, and only one of COMM 466 and COMM 497.
Upon successful completion of this course, students will be able to:
- recognize, evaluate and select business opportunities using both quantitative and qualitative criteria.
- apply a general methodology regarding the preparation and execution of a comprehensive and effective business plan which can be used to obtain financing as well as act as a blueprint for starting and managing a start up.
- demonstrate general presentation and communication skills necessary for acquiring resources such as capital.
- critique entrepreneurial opportunities and business plans.
- improve their creative thinking and problem-solving skills which are required in entrepreneurial businesses.
Prerequisite: Starting in 2016W, COMM 390 and COMM 395 will be prerequisites to COMM 497, however, during 2016W both prerequisites will be waived for students who have not yet completed them. In 2017W and subsequent sessions, both prerequisites will be strictly enforced.