Bachelor of Science in Entrepreneurial Management (BSEM) is a four year degree program designed to provide students with an in-depth understanding of the process of developing a business, running a business, and legal and ethical issues of business ownership.
The BSEM program trains students in the conceptualization, planning and formulation of a business, as well as teaching important aspects of business operations such as budgeting and financial forecasting, accounting, strategic marketing and human resource management. The course also trains students to use computer applications and bookkeeping software, as well as methods for incorporating technology into a business.
Subjects and Curriculum
The subjects in the BSEM curriculum are divided into six main categories:
- General Education core: Language and Humanities Cluster, Mathematics, Computer and Natural Science Cluster, Social Sciences Cluster, Mandated Subjects
- Basic Business Core: Principles of Management, Human Behavior in Organization (HBO), Principles of Marketing, Fundamentals of Accounting, Business Communication, Business Finance, Computer, Mathematics of Investment, Business Statistics
- Business Education Core: Basic Microeconomics, Math Analysis for Business, Accounting II, Business Law (Obligation and Contract), Taxation (Income Taxation), Total Quality Management, Human Resource Management, Social Responsibility and Good Governance, Financial Accounting, Managerial Accounting, Quantitative Technology for Business
- Entrepreneurship Core: Principles of Marketing and New Marketing Development, Franchising and Strategy Formulation, Introduction to Entrepreneurship/Project Identification, Global & International Trade, Entrepreneurial Mentoring, Entrepreneurial Project Management, Project Preparation, Project Implementation, Project Pre-implementation Activities, Strategic Management, Business Operations
- Management Core: Business Organization and Management, Human Resource Management, Production Management and Quality Control, Introduction to Management Information System, Marketing Management w/Research, Cooperative Management and Accounting
- Elective Courses: Corporate Finance and Financial Statement Analysis, Investment & Portfolio Management, Capital Markets Management, Retail and Production Management, Sales Management, Direct and Service Management, Securities Management and Analysis, Risk Management, Logistics and Distribution Management, Environmental Management, Consumer Behavior
The BSEM program is taught to students through classroom lectures and activities. Regular business establishment visits are also conducted exposing students to the tasks and responsibilities of running a business. Business exposure is an important part of an entrepreneurial management student’s life. In the third year, they will be tasked to create a small business inside the campus and sell different products depending on their choice. They must reach a certain quota of profit. At the end of the semester, they will prepare a comprehensive paper and report in front of their teachers. Here, their teachers will grade them according to the success of their business and how well they individually performed. In addition, students are required to attend seminars, training workshops and educational talks to widen their knowledge of entrepreneurial management.
In the fourth year of study, students must complete two major requirements:
- The first requirement is the business research also known as feasibility study. The project entails choosing a willing proponent who is willing to build a business. Under the supervision of a research adviser, students will be guided accordingly while conducting the study. They will help determine if the planned business is feasible or not. Once completed, they will face a panel of seasoned experts who will question and check their work.
- The second requirement, and one of the highlights of the BSEM program is the business plan implementation. The business plan implementation meanwhile is a more complicated version of the business research; it is more hands on since you will be looking for a proponent who is in the process of building a business. Students will contribute innovative ideas to the business owner and help him/her in jumpstarting the business. In some schools, it is the students themselves that are the proponents. This means that they will develop their own business and build it slowly. At the end of the semester, he/she will create a progress report and present it to a panel.
Is Entrepreneurship a profession?
Entrepreneurship is not a profession; it is a collection of traits, some inborn and some self-taught or acquired through experience, that make someone an entrepreneur. Although certain aspects of entrepreneurship can be taught, many traits, such as passion, ability to take risks, ability to endure difficulties and failure, and self-belief, are not taught in college.
BS in Entrepreneurial Management vs. BS in Entrepreneurship
Both courses have the same duration (four years) and more or less the same admission requirements.
In terms of curriculum, there are differences between BS in Entrepreneurship
and BS in Entrepreneurial Management:
Overall, BS in Entrepreneurship’s curriculum is considered easier compared with BS in Entrepreneurial Management. The BS-Entrepreneurship curriculum is composed mainly of general business education courses and entrepreneurship subjects. It is focused on teaching the process of developing innovative ideas for business, starting the business per se and how it is operated once built.
The BSEM program has a wider curriculum touching a more aspects of business, such as marketing, operations, strategy, accounting, finance, human resources and general management skills. It is geared to teach students the overall aspect of business operation and maintenance from conceiving the business, hiring employees, product development, financial analysis and a lot more.
Another difference is the integration of computer operations. The BS- Entrepreneurship program only teaches basic computer skills such as typing and the use of Microsoft applications. In the BSEM program, students learn about various types of business and bookkeeping software, as well as methods for incorporating technology into business.
What are the admission requirements for the BS in Entrepreneurial Management program?
Requirements at each school may differ, but these are the common requirements:
- Must be a high school graduate.
Those who did not complete high school education may opt to first attend Alternative Learning System (ALS) and pass the Philippine Educational Placement Test (PEPT) to qualify for college. However, some universities only offer selected courses for PEPT passers.
- College entrance exam: must pass the college entrance examination with a specified rating set by the school.
- High school average: some schools require a specific grade average upon graduation from secondary school.
- Interview: must pass the interview conducted by the college dean/faculty.
- Parents’ consent: some prestigious universities require students to pass a Parents’ Info Sheet –an informed consent stating that parents are aware that their children are enrolling in the BSEM program and that they would support them financially and morally throughout the entire course of the study, most especially during the third year where their son/daughter will be expected to start up and nurture his/her own registered business by the third year of college.
What skills, traits and attitude will help you succeed in this course?
- Business Inclination – throughout the entire study, teachers will try to develop students’ skills in creating innovative ideas for businesses, therefore it is important that a student has prior interest in this field.
- Socially Receptive – during the fourth year, students will take the subject business research which entails studying certain businesses for a specific proponent and helping them create the business. It is important for an entrepreneurial management student to be able to observe and understand his/her local and global environment and recognize opportunities for viable business ventures and enterprises.
- Management skills – the capability to identify priorities and proper courses of action, to plan the execution of tasks and to determine and delegate responsibilities to group members to most effectively carry out projects
- Mathematical Inclination – majority of subjects in the program ranging from finance, accounting, business math, and even management subjects all require basic to complex forms of certain mathematical concepts and operations thus it’s very important to have a strong foundation in mathematics because you will be using it most of the time.
- Strategic thinking – the ability to interpret and analyze information presented by peers and efficiently and constructively support or challenge their proposals, theories, ideas and reports in order to achieve a project's intended and successful end result
- Analytical skills – although mathematics is highly used in this program, it also makes use of your analytical skills in an extreme level. To be able to solve problems you have to thoroughly understand and see the logic and connection of specific problem statements before you can come up with a reasonable and precise solution.
- Decision making skills – since you will experience the so called business exposure where you will act like a real life entrepreneur, you must have sound decision making skills so that you are able to make right business judgments and improve your sales
- Critical thinking – determining how a system should work and how changes in conditions and operations will affect outcomes; the ability to analyze situations or statements and determine their validity
- Leadership skills – the ability to lead and interact with a variety of people with different approaches and personal backgrounds
- Reading Comprehension – understanding written sentences and paragraphs in work related documents.
- Computer Literacy – knowledge of computer use and being able to understand application programs.
- Communication and writing skills – the ability to present your thoughts clearly and intelligently in oral and written statements
How difficult is BS in Entrepreneurial Management?
BS in Entrepreneurial Management is a fairly difficult course. Looking at its curriculum, there are a lot of subjects coming from different fields. The subjects that use Math and analysis make the program highly complex. The BSEM program demands a lot from its students; projects such as case studies, reporting and product development can wear students down. In addition, many students taking up this program say that one of the most tedious activities is the business exposure. Although students get to be exposed to running a small business, they are in charge of the overall maintenance of the business. Since Entrepreneurial Management is an intensive program, there will be a lot of challenging examinations and quizzes.
One of the most challenging parts of the program is the business research where students will be defending their work in front of a panel who will grade them according to their output. The business plan implementation is not only a time consuming and tedious task it, will also involve a lot of money in schools who require their students to create their own businesses.
How long does it take to complete the BS in Entrepreneurial Management program in the Philippines?
The BS in Entrepreneurial Management program takes four years to complete. The program may be completed in less than 4 years in schools that follow the trimestral curriculum.
Career Opportunities for BSEM graduates
The BSEM program is geared toward preparing graduates to start and run their own business. However, since starting a business may require large sums of money, unless you can borrow money from your family or work in a family business, you will have to start your way as an employee.
Since the program is quite wide in terms of the subjects learned, and can be compared in the many ways to the BSBA program, graduates can apply to a wide range of entry level jobs, including sales, marketing, business development, low level management and administrative jobs.
Other options includes the usual Call Center/Customer Service positions, as well as working online as a freelancer in data entry or similar tasks. These positions however do not require a college degree.