BARUCH COLLEGE - zicklin : school of business - CUNY

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PURPOSE AND GOALS Baruch College proposes to offer a new degree program: Master of Science (MS) in Entrepreneurship. Increasing numbers of institutions and business scholars around the world are turning their attention to the study of Entrepreneurship. In addition, Entrepreneurship is increasingly recognized by business schools internationally as one of the most dynamic, important, and widely applicable segments of business education. Moreover, Entrepreneurship permeates our economy and accounts for a majority of our national Gross Domestic Product and the wealth in the US. Entrepreneurship is a major aspect of our economy that offers many business opportunities as well as income and wealth accumulation for diverse groups within our population, especially in the greater New York City metropolitan area. However, graduate level training of technical and managerial skills in Entrepreneurship can be obtained only by those who can afford the high tuition fees associated with an MBA in Entrepreneurship as currently offered at Baruch College and other local institutions. In addition, there is no public or private institution of higher education in the New York area that offers entrepreneurship-specific education in the form of an MS in Entrepreneurship. Since its launch in 1993, the Lawrence N. Field Center for Entrepreneurship at Baruch College has been one of the great successes of the City University of New York (CUNY) system. What began with just one course and one faculty member has grown into a full-fledged program with seven tenure-track and tenured faculty members/positions, including three endowed chairs. In 2008, the Lawrence N. Field Center for Entrepreneurship have become an endowed Program -- the Lawrence N. Field Programs in Entrepreneurship -- that conducts research, offers undergraduate and graduate curriculum including BBA and MBA degrees, and also serves more than 1,000 small business clients annually. First, we engage in a wide-ranging research and publication agenda; our minority entrepreneurship research is unique within the Entrepreneurship field of study and has gained national prominence and recognition. We have recently received the 2008 Award for Exceptional Contribution to Entrepreneurship Research from the Global Consortium for Entrepreneurship Centers. Second, with almost 500 enrolled students in undergraduate and graduate majors, the Lawrence N. Field Programs in Entrepreneurship have also recently received national recognition via a joint survey by Entrepreneur magazine and The Princeton Review ranked Baruch College 18 th among undergraduate entrepreneurial colleges in the nation in 2006. In 2008, our graduate academic program has been ranked within the top 25 programs by this same ranking survey. And third, we offer an array of counseling/consulting and training services via the Lawrence N. Field Center (now part of the overall Field Programs) which includes our highly ranked and award winning SBDC, along with a strong local networking environment. Local, regional and national conferences, workshops, trainings, and lectures are regularly offered. From its beginnings to now, the Lawrence N. Field Programs in Entrepreneurship has been making great strides in establishing itself as a national and international leader in the study of Entrepreneurship. The Zicklin School of Business has recruited several outstanding Entrepreneurship professors and the Lawrence N. Field Programs in Entrepreneurship are internationally-renowned recognized for their excellence in this area. Baruch College’s 4
Entrepreneurship programs are unique within CUNY, positioning Baruch College at the forefront of this growing and vibrant field of study. We envision this new MS in Entrepreneurship augmenting effectively our current MBA in Management/Entrepreneurship and Small Business Management. In fact, all the required course choices within its proposed major are being currently taught within our existing MBA, either as a required course or as electives. Some students simply prefer the MBA degree due to its higher status in the marketplace and their desire to complete a graduate degree with greater breadth. In contrast, this proposed MS in Entrepreneurship consists of 10 courses (5 required and 5 electives) or 30 credits (15 required and 15 elective) as opposed to the 57 credits for our MBA. Thus, we do not expect any significant shift of current MBA students to the new offering. This MS in Entrepreneurship is similar to the other seven MS degree programs at Baruch College, for example, the MS in Marketing and the MS in Real Estate. MS programs are designed for students who seek a concentrated focus on a particular subject area and in this case Entrepreneurship. Overall, this new proposed MS in Entrepreneurship will increase our course enrollments with both MBA and MS students in the same classroom when appropriate and as experienced by other MS programs in Marketing and Real Estate. This proposed MS moves us forward in our graduate programming per our recent external review of the Entrepreneurship program here at Baruch College. Finally, we believe that this proposed MS in Entrepreneurship, in the context of the New York City market’s potential, can place Baruch College as a major player for new Entrepreneurship students. The training offered by the MS in Entrepreneurship program will enable graduates to develop the skills needed to build and sustain successful careers in Entrepreneurship--an important outcome for the New York metropolitan region’s economy. This program will provide students with advanced core skills in Entrepreneurship as well as the required training in the management, operation, growth and continuation of entrepreneurial firms. We will demonstrate in the next section that student demand for the MS in Entrepreneurship is very high, especially in the greater New York area, because there is currently no existing MS in Entrepreneurship degree offered by any public or private institutions of higher education. Therefore, there are currently no skill-focused programs for those interested in developing concentrated knowledge in the area of entrepreneurship through participation in a shorter, less costly program. The establishment of such a program at Baruch College can further advance our ties with leaders in the entrepreneurial business community in New York and around the nation. Moreover, members of these business communities have been consulted in the development of this program proposal and have expressed great enthusiasm and support for this proposed program. See Appendix J for a list of supporters and their supporting letters and Appendix H for the evaluation by an external academic reviewer. Given the expertise and professionalism of Baruch College’s current faculty members, the interest of the student population in the proposed degree program, the support of the industry and of the Lawrence N. Field Programs in Entrepreneurship -- established by CUNY at Baruch College to offer Entrepreneurship programs and promote policy 5
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BARUCH COLLEGE - zicklin : school of business - CUNY

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