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Entrepreneurship and Innovation
Our students get unparalleled experiences working and networking in the field with accomplished business owners and entrepreneurs from Chicago and Lake Forest. Students graduate with extensive real-world experience.
Pairing up with local small businesses from the City of Lake Forest Incubator, students analyze the businesses’ current operations and competitors. Students develop a comprehensive marketing campaign for their client and showcase it during an evening of presentations in Lake Forest City Council Chambers.
As part of the capstone course, students will participate in a practicum where they will spend 40 hours over the course of 8 weeks at a small business working on creating solutions on a specific problem within the business.
Compelling and effective elevator pitches are critical to selling a product or service to a future investor or other stakeholder. Students will develop these multiple times during the progression of the program.
Franchises are one of the fastest growing segments of the retail and service sectors in the United States. Students take on the role of a potential franchisee, critically evaluating and reporting on how to become successful in the marketplace.
In the capstone course, students create and present an original business idea and marketing plan. They are evaluated by successful business people who evaluate and critique the business plan for viability and marketability, with an eye on differentiation and potential competitive advantage.
Entrepreneur simulation provides students with the opportunity to run their own business virtually. They will be making decisions on product line, pricing, advertising, sales, promotion, staffing and inventory management competing against fellow classmates and potentially students from other universities.
Students will complete a comprehensive business plan of a product or service for presentation to stakeholders and potential investors.