FORM TO REQUEST SUBSTANTIAL CHANGES TO AN EXISTING UNDERGRADUATE MINOR

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1 FORM TO REQUEST SUBSTANTIAL CHANGES TO AN EXISTING UNDERGRADUATE MINOR I. Requested by (College Department Academic Minor Name): Eller College of Management - McGuire Center for Entrepreneurship -Minor in Entrepreneurship and Innovation II. Proposer s name, title, and phone number: Dr. Carlos Alsua; Senior Lecturer, International Management and Global Entrepreneurship, McGuire Center for Entrepreneurship Academic Director; alsua@eller.arizona.edu; III. Number of students enrolled in the program: 0 IV. Number of units required to complete this minor: 18 V. Provide an explanation of the changes to the academic program and a rationale for them: The current minor was developed in 2012 and it has now become obsolete. Many of the courses that were originally included were cross-listed and most of them are no longer offered by their home departments. Additionally, the field of Entrepreneurship has gone through significant changes over the last five years, and McGuire is adapting to those changes in order to better meet the current needs of our students. Although the current minor might be out of date, the rationale put forth in the 2012 proposal rings as true today as it did back then. In fact, employers today are demanding that students complete a significant applied learning project before graduation and to solve problems with people whose views are different from their own. 1 Just like in 2012, students located across the disciplinary landscape of the university can benefit and are in fact seeking opportunities to develop some background in the areas of entrepreneurship and innovation. Therefore, in addition to the emphasis on the entrepreneurial mindset included in the original entrepreneurship and innovation minor, the proposed reactivated minor includes high demand areas, such as new venture development and social impact. This is now possible because McGuire itself has expanded over the last two years. We are in a position to offer courses and emphases that are current, and we can now give students broader choices. For example, students who come from programs that allow little flexibility in their home programs may opt to choose the current certificate, whereas those who have more flexibility will be interested in the depth and broader 1 Selected Findings from Online Surveys of Employers and College Students Conducted on Behalf of the Association of American Colleges & Universities, January 2015, Hart & Associates

2 options that this improved minor will give. Although a certificate in entrepreneurship can be obtained by taking the two New Venture Development classes and one additional course, the entrepreneurship minor offers students a significantly more robust education in entrepreneurship, including several areas of emphasis in new venture development, the entrepreneurial mindset, and social impact. In addition, after conducting both secondary and exploratory research, there is compelling evidence that a reactivated minor in Entrepreneurship and Innovation would be in high demand by UA students. Demand from College of Engineering Nationwide, universities are incorporating entrepreneurship education into engineering programs, and our studies suggest that students would respond positively to doing so at the University of Arizona. Eller College of Management Dean Paulo Goes recently returned from a workshop on entrepreneurship programs sponsored by AACSB (the accreditation organization for business schools) that discussed in-depth the general trend nationwide for incorporating entrepreneurship education into engineering programs. This trend supports College of Engineering Dean Jeff Goldberg s expressed interest for a partnership with the business school. Dean Goldberg feels that it is imperative to enhance the College of Engineering curriculum with entrepreneurial education in order to remain competitive in attracting the best students, and to ensure student success. Additionally, student interest suggests that such a partnership could be very advantageous. One study that explored engineering students involvement in and attitudes toward entrepreneurship education found that 69% of students felt that entrepreneurship education could broaden their career prospects, and roughly 50% who had not yet taken an entrepreneurship course were interested in doing so. Demand from other Colleges and Schools at UA The vast majority of millennials fully 70% want to start their own business, according to a study by Deloitte2. Among 20-somethings, 63% want to start their own business, according to a University of Phoenix survey3, and the percentages are even higher for the younger cohort; 72% of high school students want to start their own business someday, according to a study by Millennial Branding and Internships.com4. These numbers are supported by the experience of Vincent Del Casino, Vice Provost for Digital Learning and Student Engagement and Associate Vice President Student Affairs and Enrollment Management, who believes that there is substantial demand for entrepreneurship and innovation among students. Cross Campus Entrepreneurship Education The Dean Paulo Goes and David Allen, Vice President of Tech Launch Arizona, at the instruction of President Hart, founded an entrepreneurship-focused working group to expand entrepreneurship across the University of Arizona campus; a minor in Entrepreneurship and Innovation will play a key component in extending entrepreneurial offerings to undergraduate students across campus. 2 Bersin, J. (2017). The 2017 Deloitte Millennial Survey: Apprehensive millennials seeking stability and opportunities in an uncertain world. 3 Univerity of Phoenix. (2013). University of Phoenix Survey Reveals Nearly Seven-in-Ten Workers Have Been Part of Dysfunctional Teams. Retrieved from 4 Schwabel, D. (2014). The High School Careers Study. Millenial Branding. Retrieved from

3 VI. Special conditions for admission to/declaration of this program explain in detail the existing criteria to join this program, including GPA requirements, completion of courses prior to declaration, application process, interviews, etc., and any changes you are seeking to such criteria. Students wishing to enroll in the Entrepreneurship and Innovation minor prior to 2014 were required to have taken ECON 200 or ECON 201A & B. If that prerequisite had been met, any advisor on campus could place the minor on a student s program of study. Moving forward, students will need to meet the following requirements before being enrolled in the Entrepreneurship and Innovation minor: Have a 2.0 GPA Have completed 30 credits prior to enrolling in the minor Apply to the minor o Students will provide demographic information and a statement of interest. o This information will be reviewed by an admissions committee o Once admitted, Eller staff or advisors will enroll students in the minor and add it to their program of study. VII. Comparison Chart please complete the chart below. Existing Program Requirements Requirements For Modified Program Total Units required to complete the minor Upper -division Units required to complete 9 9 the minor Total transfer units that may apply to this minor At least 9 units must be completed in residence. At least 9 units must be completed in residence? CIP Code List any special requirements to declare or gain admission to this minor Prerequisite of ECON 200 or ECON 201A & B GPA of 2.0 Minimum of 30 credits completed GPA of 2.0 Introductory Core Courses in the Minor 2 nd Tier Core Courses in the Minor Internship, Practicum, Applied Course Requirements. (Yes/no. If yes, please describe.) ACCT 200 or 250; BNAD 303; ENTR 200, 340, or 406 ENTR 410, 420R, 421, 453, 468, CHEE 436, MUS 160D, RSSS 445, SIE 457, PATH 481A, PHIL 404, CLAS 308, SOC 430 Six credits from the following: ACCT 200 or 250; ECON 200; MIS 111 ENTR 360, 406, 457, 468, 483, 484, 487, 488, 496, 499, BNAD 455, FIN 480, MGMT 380, 381, 382*

4 Senior Thesis or Senior Project Required (Yes/) Additional Requirements (Please Describe.) # of Elective Units in the Minor. N/A N/A 6 12 *Please note that the MGMT and BNAD courses have all recently come under the administration of the McGuire Center, even though their prefixes remain with their previous departments. The FIN 480 class is an established component of the McGuire Entrepreneurship Program. Please describe how your minor requirements are similar to and different from the minor requirements of two peer institutions. The two minor programs chosen are from the Universities of rth Carolina and Maryland. They belong to the same AACSB peer group as Eller College of Management and all three are top-25 ranked entrepreneurship programs. University of rth Carolina at Chapel Hill minor in Entrepreneurship The Minor in Entrepreneurship at the University of rth Carolina at Chapel Hill is a 15-credit program composed of four core classes and an internship. Twelve of the fifteen credits are upperlevel courses. It is designed for students who wish to remain in another discipline, but who have an interest in the process of entrepreneurship. The minor is intended to take three semesters to complete. It consists of foundational classes about the entrepreneurial mindset, a business plan writing course, an experiential component, and hands-on mentoring. After the introductory ECON 125 and ECON 325 classes (Introduction to Entrepreneurship and Entrepreneurship: Principles and Practice), students are divided into venture creation workshops in ECON 327. In this class, students learn to write business plans, and are divided by areas of interest sections with Artistic, Commercial, Media, and Scientific emphases. Students then complete an internship during the summer before enrolling in the minor s capstone class, ECON 393. This capstone class provides professional development and individual guidance from mentors and faculty as students pursue their entrepreneurial ventures. To apply to this minor, students must have taken ECON 101 as a pre-requisite and submit a resume and 300-word statement of interest. Students must currently be enrolled at UNC-CH. University of Maryland minor in Innovation and Entrepreneurship The Innovation & Entrepreneurship minor at the University of Maryland is a partially-online, blended learning program with a sequenced curriculum structure. It is a two-year academic minor program in which students must complete 15 total credits. The five courses involved with the minor are all required, and focus on concepts surrounding the entrepreneurial mindset, venture finance, marketing, corporate entrepreneurship, and strategic innovation. All 15 credits are upper-division courses.

5 The minor was designed to supplement students primary course of study in fields other than business, and will provide the student knowledge which complements the in-depth expertise within their major field of study by building the entrepreneurial mindset, skills, and relationships invaluable to developing innovative, impactful solutions to today's problems. This minor is designed for capturing the economic value in creative ideas for commercially viable products and services, and develops specific competencies in the creation, growth, and leadership of innovative or entrepreneurial firms. To apply to this minor, students must be current UMD College Park undergraduates, have taken a minimum of 45 credit hours at the University of Maryland, College Park, and have a GPA of 2.0 or higher. An application form is required, along with a letter of recommendation. A student s GPA and a demonstrated commitment to growth and development through the study of business or innovation and entrepreneurship concepts are considered in the application process. University of Arizona minor in Entrepreneurship and Innovation Much like UNC-CH and UMD, the minor offered by the McGuire Center for Entrepreneurship at Eller College is intended to teach the entrepreneurial mindset to students whose major is one other than business. The minor is an 18-credit program, consisting of six credits of required foundational business courses, plus twelve credits of elective credits. Twelve of the credits are upper-division courses. This minor requires three credits more than its two counterparts, but follows UA guidelines in doing so. All three minors require a minimum of 12 upper-division credits. The minors at UNC-CH and UMD are more sequenced than the one offered by McGuire. The minor at UMD offers no flexibility as to which courses can be taken. UNC-CH also requires a set sequence of courses, but do offer choice as to the internship in which students participate and the industry focus of their venture creation workshop. In contrast, the minor offered by McGuire requires students to participate in six-credits of foundational core courses, but then allows flexibility in choice for the remaining twelve credits. As a leader in entrepreneurial education, the McGuire Center offers courses around new venture development, social entrepreneurship, and the entrepreneurial mindset. The McGuire minor allows students to elect which types of classes best support their needs and career goals. Academic coursework in the McGuire minor will be enhanced by hands-on mentoring and experiential opportunities, similar to the minor at UNC-CH. The minor offered by McGuire can be completed in two semesters, with proper planning. While this is a shorter period than either UNC-CH or UMD, it does follow the conventions of the other minors offered by Eller College of Management and other colleges on the University of Arizona campus. The application process for applying to the McGuire minor follows some elements of both UNC-CH and UMD, and is in-line with the other minors offered by Eller College. To apply to this minor, students must be current University of Arizona undergraduates, have taken a minimum of 30 credit hours, and have a GPA of 2.0 or higher. An application form is required, along with a statement of interest. A student s GPA and their goals and interest in entrepreneurship and innovation outlined in their statement of interest will be considered in the application process.

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