Small Business Management

This course incorporates current theory and practice relating to starting and managing small firms. It provides a comprehensive coverage of critical small business issues; numerous real-world examples to help students understand how to apply the business management concepts presented in the text, and incorporates material to help them explore small business issues in the amazing world of the Internet.

The course will provide the student with the knowledge to:

1. Discuss the availability of entrepreneurial opportunities.

2. Discuss the factors that make the family business unique.

3. Understand the franchising Concept.

4. Understand the reasons for starting a new business rather than buying an existing firm or acquiring a franchise.

5. Define competitive advantage.

6. Develop a comprehensive business plan.

7. Discuss the nature of the marketing research process.

8. Identify the factors affecting choice of a business location.

9. Describe the purpose and content of financial statements.

10. Identify the key characteristics of consumer behavior.

11. Discuss the role of cost and demand factors in setting a price.

12. Describe the communication process and the factors determining a promotional mix.

13. Explain the impact of social responsibilities on small businesses.

14. Discuss the distinctive features of small firm management.

15. Explain the importance of employee recruitment and identify some sources that can be useful in finding qualified applicants.

16. Explain the key elements of total quality management (TQM) programs.

17. Explain the importance of computer technology for small businesses.

18. Identify the basic requirements for an accounting system.

19. Describe the working-capital cycle of a small business.

20. Define and explain the nature of risk.

21. Explain the importance of an exit strategy.

Learning Methodology:

The learning methodologies employed in this course are a combination of Lecture and Labs, combination of Lecture, Hands-on activities, and Group Discussions. In order to successfully complete this course, students must also possess basic computer skills, the ability to follow written directions, and be able to read for comprehension.