BMGT 120 Small Business Management
Small business management blends entrepreneurial goals with a realistic survey of the wide variety of functional business skills needed to operate a small firm effectively. The course will focus on skills such as marketing, financial management, and business planning, as well as a clearer view of small business's contribution to the national economy. Students will improve their problem-solving abilities through experiential exercises, classroom discussion, and the completion of a partial business plan.
Hours Weekly
3
Course Objectives
- Discuss the current context of entrepreneurship, including its competitive advantages and SBA standards
of definition - Identify and analyze personal strengths/weaknesses relative to becoming a successful entrepreneur
- Identify and evaluate new business startup ideas, also including takeovers and franchising
- Discuss social responsibility, ethics, and environmental issues for a small business
- Describe the special culture of a family business
- Describe the steps needed to launch an effective web presence, and contrast e-commerce business models
- Discuss the impact of, and need for a business plan, and its major parts
- Estimate the market potential for a small business; describe the nature of its marketing research
- Describe the legal forms of organization available to small businesses
- Describe a new venture’s management team options, and selecting a venture’s location and facilities
planning - Project financial requirements, and describe finding financing sources
- Determine appropriate and effective exit strategies
- Discuss the assessment of financial performance for a small business
- Define customer service, product, and distribution policies
- Describe the application of a pricing system and selection of a price strategy and managing the credit
process - Describe the marketing process for small business, including: promotional budgeting, global strategy
options, personal selling and advertising practices - Explain managing human resources for small ventures, including unique issues such as employee leasing.
- Describe the value of quality as a competitive tool; discuss operations analysis to improve productivity in
a small business - Explain risk management for a small firm, including insurance and risk classification
- Determine potential legacy issues relevant to a small firm’s future
Course Objectives
- Discuss the current context of entrepreneurship, including its competitive advantages and SBA standards
of definition - Identify and analyze personal strengths/weaknesses relative to becoming a successful entrepreneur
- Identify and evaluate new business startup ideas, also including takeovers and franchising
- Discuss social responsibility, ethics, and environmental issues for a small business
- Describe the special culture of a family business
- Describe the steps needed to launch an effective web presence, and contrast e-commerce business models
- Discuss the impact of, and need for a business plan, and its major parts
- Estimate the market potential for a small business; describe the nature of its marketing research
- Describe the legal forms of organization available to small businesses
- Describe a new venture’s management team options, and selecting a venture’s location and facilities
planning - Project financial requirements, and describe finding financing sources
- Determine appropriate and effective exit strategies
- Discuss the assessment of financial performance for a small business
- Define customer service, product, and distribution policies
- Describe the application of a pricing system and selection of a price strategy and managing the credit
process - Describe the marketing process for small business, including: promotional budgeting, global strategy
options, personal selling and advertising practices - Explain managing human resources for small ventures, including unique issues such as employee leasing.
- Describe the value of quality as a competitive tool; discuss operations analysis to improve productivity in
a small business - Explain risk management for a small firm, including insurance and risk classification
- Determine potential legacy issues relevant to a small firm’s future