University of Michigan-Flint School of Management (SOM) this fall unveils a new major as part of its booming entrepreneurship and innovation offer.
The Entrepreneurship and Innovation Management major combines the expertise of the school’s marketing and management faculties and covers a range of issues such as product design, business creation, technological innovation, research. marketing, project management and negotiation skills.
SOM Dean Scott Johnson said business training is geared towards product and service innovation, as well as entrepreneurial skills. This could mean starting your own business or creating new products or ideas within existing businesses.
“I see entrepreneurship as a state of mind, how we can improve processes, how we can do things differently. It’s not necessarily about starting a new business,” he said.
The School of Management received a $ 2 million leadership donation from Philip and Jocelyn Hagerman earlier this year, making it the largest donation ever made to SOM. This led to the creation of the Hagerman Center for Entrepreneurship and Innovation in Schools. Philip Hagerman is the President and CEO of Diplomat Pharmacy, Inc., headquartered in Flint.
The major was planned before Hagerman’s donation, Johnson said, but the donation still supported him.
“Everything came together around the center at the same time,” he said.
The center is located in the Riverfront Center.
Johnson said he plans to announce an interim director for the center shortly, with a permanent director to be chosen within the year.
The first batch of Hagerman Fellows, students who receive competitive scholarships, will also be announced shortly, Johnson said. They will work on the annual business plan competition, help research faculty, work with high school students, and be involved in the center.
A faculty member involved in entrepreneurship and innovation research will also receive a stipend and support.
SOM is also planning to launch a summer camp for high school students next year for those interested in the field.
Thomas Hemphill, professor of strategy, innovation and public policy, said the major and center came together at “perfect timing.” Hemphill teaches the Innovation Management course which is part of the major.
The experience and expertise of the SOM faculty equips the program with a range of skills and knowledge for both innovation management and the entrepreneurial studies program, he said.
SOM Associate Professor of Organizational Behavior and Human Resources Brian D. Blume said the major harnessed the talents and ideas of the wider community.
“In my course on starting new businesses, I encourage students to interact with and learn from entrepreneurs. For example, in one of my homework, students interviewed an entrepreneur,” Blume said. . “I also invite entrepreneurs into the classroom as guest speakers. I have found that the Flint area business community, and successful entrepreneurs in particular, have been very generous with their time and are ready to share their experiences with UM-Flint’s School of Management Students. “