BUS-147 Small Business Management
A management approach to the study of contemporary small business practices. Students evaluate alternatives to be considered in forming policies regarding organizational structure, location, financial and legal requirements, merchandising and service standards, personnel considerations, methods of operation, promotional strategy, inventory control and accounting procedures. This course will serve as preparation for the establishment and operation of a small retail business.
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Course Outline
Course Description
A management approach to the study of contemporary small business practices. Students evaluate alternatives to be considered in forming policies regarding organizational structure, location, financial and legal requirements, merchandising and service standards, personnel considerations, methods of operation, promotional strategy, inventory control and accounting procedures. This course will serve as preparation for the establishment and operation of a small retail business.
Credit Hours
3Semester(s) Course Will Be Offered
Fall, Spring
Course Learning Outcomes
- Identify several factors that indicate a readiness for entrepreneurship
- Evaluate the merits of a small business
- Calculate common financial measures of business health
Topic Outline
- Family Business Opportunities
- Franchising Opportunities
- Startup and Buyout Opportunities
- Competitive Advantage in the Marketplace
- The Role of the Business Plan
- Developing the Marketing Plan
- Selecting the Management Team and form of Organization
- Selecting a Location and Planning the Facilities
- Accounting Statements and Financial Requirements
- Finding Sources of Financing
- Customer Loyalty and Product Strategy
- Pricing and Credit Strategies
- Promotional Strategy
- Professional Management in the Growing Firm