Recently, medicinal and recreational use of marijuana has been legalized in several US states. Such a development means that innovative entrepreneurs should pay attention to this new area of business.
According to Poets & Quants, Daniels College of Business (Denver University) intends to not let such a lucrative prospective business slip. Last week, it launched a new elective centered around marijuana business. The course lasts for ten weeks, and there are already no less than twenty-five students enrolled in it. The creator of this new elective says that such a course is so far unique: it will show how the new marijuana industry will influence business spheres such as finance, marketing, management, ethics etc.
Product Of A Five-Year Research
The new elective is the result of a long study by assistant professor Paul Seaborn, started in 2011. The scientist had the idea about this new research after obtaining his PhD degree at Toronto. At the time, Colorado and Washington were the first American states to legalize medicinal and recreational marijuana.
Two years later, in 2013, Seaborn published a business case which was centered around the brand-new weed industry, specifically the advertisement of pot in Colorado. In 2016, his first market report based on marijuana selling data was published, and there were special panels at business conferences dedicated to this new area. Consequently, creating an elective course was only natural.
New Course Turned Out To Be Surprising
From the time of this elective’s creation to its emplementation, about a year has passed. Of course, its way towards approval was not an easy one: many questions were asked about what the course intends to achieve and how it would be useful to students. According to Seaborn, the elective is not as strange as it seems: it contains information which will be useful in business, just like any other course in management or advertising.
The course’s goal is to introduce students to all implications of legalized marijuana business development in the US and its effect on other business areas. The elective is new but not unprecedented: a similar topic was discussed in a recent course for law students at the same university. It actually helped a lot.
The students who enrolled in this new elective are diverse: some have already had some experience in the industry, and others understand that they may touch upon the marijuana business somewhere in the future – even if they choose to work in accounting or marketing.
Of course, the course will be most helpful to students who plan to make a career in the growing weed industry.
On the first day of the course, Seaborn taught students about different kinds of marijuana and the tax processes involved in its selling.
Whatever people may say, the weed industry is quite promising. Only in Colorado there are about 3,000 businesses dealing in marijuana, and the number is still growing.
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