In response for calls to stimulate Australia’s economic growth through innovation, Macquarie University in Sydney has launched a new Entrepreneurship major, which is aimed at developing the next breed of business leaders and entrepreneurs.
This new undergraduate business major, which sits in Macquarie’s Faculty of Business and Economics, will teach tomorrow’s entrepreneurs to competently assess the market, create innovative solutions and take risks. The Entrepreneurship major combines theory and practice through experimentation and application of theoretical knowledge in industry-based simulations and projects.
Professor Mark Gabbott, Executive Dean of the Faculty of Business and Economics said Australian businesses need to strike the right balance between entrepreneurship and intrapreneurship in order to capitalise on the market.
“Innovation by entrepreneurs can come from outside an organisation and within; corporate intrapreneurship also has a place in delivering a competitive advantage,” Gabbott said. “To keep businesses in Australia and sustain economic growth, business schools need to start teaching broader business skills to equip students with the necessary expertise to identify opportunities and show commercial awareness for new economic activity while remaining credible and authentic.
“To help guide tomorrow’s young visionaries, Macquarie University Faculty of Business and Economics has developed an Entrepreneurship major that combines the skills, concepts and knowledge of entrepreneurship to assist students in turning their business ideas into reality.”
Students can enroll for the major as part of a Bachelor of Arts, Bachelor of Business Leadership and Commerce and Bachelor of Commerce degrees. From 2015, students will be able to choose Entrepreneurship as a business major as part of their undergraduate degree.
Areas of study include the foundations of entrepreneurship and management, new venture marketing and business development, finance and regulation for new ventures, strategic management, creativity and innovation, professional and community engagement, and entrepreneurship projects. Entrepreneurship skills combine well with other disciplines and are well suited as to double major and double degree options. Students will commence their first Entrepreneurship units in 2016.
“As youth unemployment grows and our workforces continue to shift, it is clear there is a critical need for youth entrepreneurship to be able to diversify in the wake of the mining and resource sector,” said Dr Erik Lundmark, the lecturer of the Entrepreneurship major. “Young entrepreneurs bring a fresh perspective to business, which is vital to maintaining Australia’s economic growth. Our new Entrepreneurial major will not only teach students the importance of hard work and determination, but arm them with the necessary skills to run their own enterprise.”
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