COURSE DESCRIPTION

Presents the various steps considered necessary when going into business. Includes areas such as product-service analysis, market research evaluation, setting up books, ways to finance startup, operations of the business, development of business plans, buyouts versus starting from scratch, and franchising. Uses problems and cases to demonstrate implementation of these techniques. Lecture 3 hours per week.

GENERAL COURSE PURPOSE

The course concentrates on the planning for and initiation of a new business or a new business idea. It emphasizes opportunity evaluation, forecasting, and startup planning. This course is designed to prepare the student for investigation of new opportunity and for startup management, but not on going operations.

COURSE OBJECTIVES

As a result of the learning experiences provided in this course, the student should be able to:

1. establish measurable objectives for investment initiatives
2. forecast, analyze, and plan for entrepreneurial initiative whether investment or operational
3. know the steps in rational investing
4. know the steps in establishing a new business

1. Introduction to entrepreneurial opportunities
2. Financing of Business - venture capital
3. Definition of objectives
4. Forecasting, decision making, planning
5. Investment opportunities
6. Starting a new firm

1. Forms of ownership
2. Establishing requirements

1. assets
2. projected balance sheet
3. cash flow

1. Location, layout, and merchandising
1. Sales development
2. Franchising or purchasing existing firm
3. International business

1. exporting
2. importing

1. Legal aspects of investing and ownership
2. Essential record keeping and accounting
3. Computer application for the entrepreneur