About the Farrell Center for Corporate Innovation and EntrepreneurshipThe Farrell Center has three major roles within Penn State's Smeal College of Business: the creation and management of educational programs in corporate innovation and entrepreneurship, research, and outreach.Farrell Center for Corporate Innovation and EntrepreneurshipFCCIE_571521ea-8529-11e6-b1c8-473759bafbb2Michael J. FarrellThe Farrell Center for Corporate Innovation and Entrepreneurship was formed in 1992 through a generous endowment from Michael J. Farrell, President and Chief Executive Officer of Farrell and Company, an investment banking firm specializing in manufacturing. Mr. Farrell envisioned promoting and supporting entrepreneurship and innovation as fundamental management disciplines that can be applied at any scale of enterprise, from start-up companies to global corporations. Penn StateSmeal College of BusinessCompaniesThe Center is dedicated to enabling and cultivating industry partnerships to benefit companies, students, and faculty. As such, participating companies may benefit from the talents, skills, and expertise of our students and faculty through an array of partnership opportunities.StudentsThe Center is also uniquely dedicated to teaching students about corporate innovation and entrepreneurship to provide them with the skills, knowledge, and experience to prosper in today's business world.FacultyDr. Shawn M. ClarkDr. Shawn Clark is a Clinical Professor of Innovation and Entrepreneurship and Director of the Farrell Center for Corporate Innovation and Entrepreneurship, Pennsylvania State University. John B. LeveBrad Leve is Associate Director of the Farrell Center for Corporate Innovation and Entrepreneurship, Pennsylvania State University. Dr. Peter S. WhalenDr. Whalen is a Clinical Associate Professor of Entrepreneurship and Director of the Garber Center, Pennsylvania State University. Dr. Raghu GarudDr. Raghu Garud is Alvin H. Clemens Professor of Management & Organization and the Research Director of the Farrell Center for Corporate Innovation and Entrepreneurship, Pennsylvania State University. Dr. Tim PollockDr. Pollock is the Michael J. Farrell Chair in Entrepreneurship in the Management and Organization Department of the Smeal College of Business at The Pennsylvania State University. David LenzeDavid Lenze is the Director of the APEX Program at Penn State and a member of the Farrell Center for Corporate Innovation and Entrepreneurship, Pennsylvania State University.Dr. Razvan LungeanuDr. Razvan Lungeanu is Assistant Professor of Management & Organization and a member of the Farrell Center for Corporate Innovation and Entrepreneurship, Pennsylvania State University. Richard WeyerRichard M. Weyer is an Instructor of Entrepreneurship in the Smeal College of Business at The Pennsylvania State University._571523a2-8529-11e6-b1c8-473759bafbb2To promote and support entrepreneurship and innovation as fundamental management disciplines_5715247e-8529-11e6-b1c8-473759bafbb2InnovationEntrepreneurshipPartnershipsThe Center fosters partnerships by providing an engaging portfolio of educational opportunities, research initiatives, consulting programs, events, and other collaborative solutions to help companies and students improve their innovativeness and successfully launch new ventures. Educational ProgramsCreate and manage of educational programs in corporate innovation and entrepreneurship_5715253c-8529-11e6-b1c8-473759bafbb21Undergraduate CoursesOffer undergraduate courses in entrepreneurship_57152618-8529-11e6-b1c8-473759bafbb21.1UndergraduatesPenn State's College of EngineeringCurrently the Smeal College offers undergraduate courses in entrepreneurship together with Penn State's College of Engineering. In this way, engineering students benefit from the exposure to business practices and the business students work on actual technology driven opportunities created within the engineering school. At the advanced planning stage is the addition of a full undergraduate entrepreneurship program within the business school. The Farrell Center is home to the new Corporate Innovation and Entrepreneurship major for undergraduate students. For more information about this major please click here to view the CIENT Major Brochure. In addition, the Farrell Center represents the Smeal College of Business as part of the Intercollege Entrepreneurship and Innovation (ENTI) Minor and by offering the New Ventures course cluster and offering two of the core courses. The ENTI Minor is available to students of all disciplines with course clusters for the minor currently available in seven Colleges.Graduate PortfoliosOffers portfolios including Corporate Innovation and Entrepreneurship._571526d6-8529-11e6-b1c8-473759bafbb21.2MBA StudentsThe Smeal MBA program offers eight major portfolios including Corporate Innovation and Entrepreneurship. A similar opportunity is available in the Executive MBA Program. Students learn how to be successful entrepreneurs in three contrasting scenarios: in start-ups, within an established corporation, and within networks of corporations. Research shows that graduates with the skills to execute innovation and change within complex enterprises are extremely valuable. Since more than 90 percent of Smeal MBA graduates' careers take them into large corporations, this unique clinical experience in creating and managing innovation-driven change positions students above the crowd in the job market. Each course is structured so that the students can compare and contrast the role of the entrepreneur in small and large enterprises.Executive EducationOffer customized and general enrollment courses in the Management of and Investment in Innovation._571527a8-8529-11e6-b1c8-473759bafbb21.3Penn State Executive Education DivisionExecutivesMarket research targeted at CEOs has shown that corporate innovation is considered the number one factor for success. Customized and general enrollment courses in the "Management of and Investment in Innovation" are offered by the highly rated Penn State Executive Education Division of the Smeal College.ResearchStudy innovation across corporate boundaries. _571528ca-8529-11e6-b1c8-473759bafbb22Large CorporationsCorporate PartnersThese programs are partly sponsored by corporate partners of the Center. The Center is always available to discuss research partnerships with companies wishing to access the know-how, resources, and experience of the Center's staff.Research under way in the Farrell Center for Corporate Innovation and Entrepreneurship is aimed at innovation across corporate boundaries. This emphasis on the practice of entrepreneurism by large corporations and across corporate boundaries differentiates the Farrell Center from other such Centers and helps students prepare for careers as change managers in larger organizations where such skills are in great demand. Companies continue to stress the importance of innovation as a key success factor but most are not adequately fostering a creative atmosphere. Since innovation is a stated need of corporate America, and no business school is focusing most of its efforts in this area, the Farrell Center has the opportunity to be the pioneer in this field. To effectively meet this challenge, innovation is the key target of its research and educational programs. Current Initiatives -- The Center is currently undertaking research on the following topics:Ownership & ReturnsStudy the relationship between ownership structure and return on private equity investment within venture capital funded companies_5715299c-8529-11e6-b1c8-473759bafbb22.1Knowledge ManagementStudy best practices for knowledge management in global corporations metrics for innovation management_57152a6e-8529-11e6-b1c8-473759bafbb22.2ChangeStudy quantification of corporate propensity for change_57152b5e-8529-11e6-b1c8-473759bafbb22.3Outreach_57152c3a-8529-11e6-b1c8-473759bafbb23_57152d0c-8529-11e6-b1c8-473759bafbb22016-09-27http://www.smeal.psu.edu/fcfeOwenAmburOwen.Ambur@verizon.net