Identifies management concerns unique to small businesses. Introduces the requirements necessary to initiate a small business, and identifies the elements comprising a business plan. Presents information establishing financial and administrative controls, developing a marketing strategy, managing business operations, and the legal and government relationships specific to small businesses. Lecture 3 hours per week.
GENERAL COURSE PURPOSE
The course in Small Business Management is intended to enhance the skills of present or future managers in the small business sector of the economy. The student will develop an understanding of the problems peculiar to small business firms and possible solutions. Small business have a high failure rate; four of five firms last less than ten years. Most failures are attributed to ineffective management and personal inadequacies. The purpose of this course is to afford the student the opportunity to identify, understand, and seek solutions to the problems of small business, and to gain knowledge of techniques and information helpful to small business. This course is an elective for students in business programs leading to the Associate in Applied Science degree.
ENTRY LEVEL COMPETENCIES
An ability to read, comprehend, analyze material written at a college level. An ability to write and present ideas using standard English.
Upon the completion of this course, the student should be able to:
A. understand the role of small business firms in the economy, opportunities for their establishment, and reasons for failure or successMAJOR TOPICS TO BE COVERED
B. understand how to plan to start a new business, to busy a going concern, and to acquire a franchise
C. know the basic location factors and be familiar with sources of information for site location
D. understand the role of the basic management functions in a small business: planning, organizing, staffing, directing, controlling, coordinating, and representing the business in the local community and in the industry
E. finance, organize, and staff small business
F. become familiar with utilization of outside staff services and the Small Business Administration
G. appreciate the personnel functions of job analysis, selection, placement, training, remuneration, and morale-building as applied to small business
H. understand the fundamentals of procurement and inventory control for a small business
I. appreciate the importance of risk management and insurance planning
J. understand the use of cash budgeting and financial analysis techniques
K. demonstrate familiarity with certain government regulations applicable to small business and the various federal taxes
L. examine and discuss selected cases in small business, making decisions on such cases, and justifying their decisions
M. prepare a term paper on organizing (or operating) a small business and present it to the class.