Courses of Study 2019-2020 
    
    Jun 03, 2020  
Courses of Study 2019-2020
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AEM 3251 - The Business Laboratory and New Venture Management


     
Spring. 4 credits. Letter grades only.

Prerequisite: AEM 1200  or AEM 2200  or equivalent, AEM 2220  or equivalent.

R. Karpman.

This course is a team oriented approach to allow students to understand through a simulation what happens when a new business is launched with funding in place. During the course of the implementation they will be presented with obstacles that often occur in “real-life ” situations and learn how to develop creative ways to solve and overcome those obstacles. By the end of the term, it is expected that each team will have experienced (through simulation) managing a new venture.

Outcome 1: Develop a company mission and vision

Outcome 2: Develop an appropriate budget; manage revenue and seek additional funding sources if necessary.

Outcome 3: Interview and hire employees and consultants.

Outcome 4: Acquire space and negotiate contracts with suppliers.

Outcome 5: Deal with unexpected obstacles i.e. delays in material deliveries, sudden loss of key employees.

Outcome 6: Initiate a marketing plan for the company.

Outcome 7: Project development and achieving milestones.



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