Syllabus

Required Texts

Essentials of Entrepreneurship and Small Business Management by Zimmerer and Scarborough
ISBN: 0-13-017280-4  3rd Edition, Prentice Hall Publishing, 2002.

Course Content Guide

Office:                          PW 17C

Phone:                          521-6763 or pager 521-6060 

Office Hours:                by appointment, PLEASE leave you number to make
       an appointment

Credit Hours:              3 credit hours

 Introduction: This course deals with problems unique to small organizations. It applies established principles of management, supervision, marketing, financing, controlling, production, and research to small business organizations.

Course Activities and Design: Teaching/learning methods may include (but are not limited to) lecture, case studies, videotapes, reading assignments, and research projects. Students will develop a business plan for a real/imaginary business (identified by the student) for 3 years of operation. If this is a real business, the plan can cover the next 3 years of operation. If it is an imaginary one, it will cover start-up and the first 3 years of operation.

Class meetings are interactive in nature.

Prerequisites and/or Entry-Level Skills: While there are no specific course (at this time) required prior to taking this course, it is recommended the student be familiar with basic accounting, finance, and marketing concepts. The course is considered to be a "capstone" course. The small business owner must have a working knowledge of all areas of business to be successful. Therefore, this class cannot spend an inordinate amount of time on business basics. If a student were unsure of his/her abilities in a specific area, contact with the instructor to assess those skills would be recommended.

Evaluation Methods: Satisfactory attainment of competencies will be based on the following:

NOTE: If projects are not turned in on or before the due dates, a 20% late penalty will be assessed unless prior arrangements have been made with the instructor.

The grading scale for this course is: GRADE SCHEDULE

                        A             100 - 90%

                        B            89% - 80%

                        C            79% - 70%

                        D            69% - 60%

                        F            59% and below

 Course Outline:

NOTE: EVERY EFFORT WILL BE MADE TO ADHERE AS CLOSELY AS POSSIBLE TO THIS SCHEDULE, HOWEVER, MODIFICATIONS MAY BE MADE AS REQUIRED.

Integration of Critical Skills: The five critical skill areas; reading, writing, computing, speaking/listening, and diversity are integrated into the course content and process. Assignments may include case studies, assigned reading, and writing. Specifically, upon completing this course, the student should be able to:

1. Understand the nature of small business.
   1. Analyze the personal advantages, disadvantages, and risks of owning your own business.
   2. Determine what entrepreneurial skills and personal traits are needed to start and/or operate your business.
2. Survey information needed to start a new business or purchase an existing one.
   1. Identify ways to enter a small business.
   2. Determine legal forms of ownership.
   3. Review current business environments.
3. Identify pre-operational activities and decisions.
   1. Conduct, organize, and utilize market research to assess needs.
   2. Select type of business based on market analysis of needs.
   3. Determine appropriate legal form of organization.
4. Preparing the Business Plan.
   1. Identify how the business plan helps the entrepreneur.
   2. Prepare a complete Business Plan which includes a loan package.
   3. Demonstrate the ability to set up, maintain, and analyze financial records/documents.
5. Surveying other skills needed by entrepreneurs.
   1. Identify sources of technical assistance and sources of finance.
   2. Demonstrate knowledge of how to select, orient, train, motivate, and evaluate staff.
   3. Discuss personnel relations.
   4. Identify processes for marketing, promoting, advertising, the small business.
   5. Other topics if time permits.

Instructional Goals and Expected Outcomes:

1. Recognize the role of small business in a global economy. After completing this topic you should be able to:
   1. define small business, identify strengths/weaknesses of small business,
   2. define who are entrepreneurs and entrepreneurship
   3. identify rewards and drawbacks of entrepreneurship
   4. summarize the role small business plays in both the U. S. and global economy,
   5. explain the need for cultural diversity in small business,
   6. outline some of the long-term trends expected for small business.
      
       
2. How does family business opportunities fit with entrepreneurship? After completing this topic you should be able to:
   1. define the culture of a family business
   2. summarize traits of family roles in a small business
   3. explain special features of family firm management
   4. identify rewards and hazards of being in a family owned business
   5. explain the process of leadership succession in a family owned business.
       
3. Identifying Competitive Advantage in the small business workplace.  After completing this topic you should be able to:
   1. define what is competitive advantage
   2. Identify strategies that would assist in gaining competitive advantages

    

4. Describe how a business plan fits into a new venture. After completing this topic you should be able to:
   1. explain the need for a business plan,
   2. outline steps in the preparation of a business plan and explain how they interconnect,
   3. discuss why marketing research is the most critical first step in the plan's preparation,
   4. discuss resources for business plan preparation.

    

5. Know how marketing research and marketing channels impact small business. After completing this topic you should be able to:
   1. explain the need for marketing research,
   2. outline the basic steps in carrying out marketing research,
   3. discuss how best to segment markets,
   4. recognize how marketing research increases the chance of success over intuition in solving marketing problems,
   5. explain the purpose of marketing channels and how they work.
      
       
6. Identify the organizational planning and the management team issues specific to small business management. After completing this topic you should be able to:
   1. explain the need for organizational planning,
   2. identify/define the legal forms of business organization,
   3. outline how to build a staff and meet skill needs,
   4. identify the basic elements of total quality management,
   5. summarize the kinds of help available from private/government sources.
   6. discuss the effect on taxes of the legal forms of organization
      

    

7. Identify issues important in determining the location of small business. After completing this topic you should be able to:
   1. explain the importance of selecting the right site for a venture,
   2. summarize how site selection differs in importance among industries,
   3. identify the role that marketing research plays in site selection,
   4. outline the process for selecting the right site for retail, service, or wholesale ventures,
   5. outline the process for equipping the physical facilities for the business  venture.
      
       
8. Classify the accounting tools/techniques that are of particular concern to small business. After completing this topic you should be able to:
   1. explain the need for accounting,
   2. summarize the uses of accounting,
   3. distinguish among income statements, balance sheets, and cash budgets,
   4. explain the importance of cash flow,
   5. identify the limitations of accounting.
       

    

9. Laying out the specifics for financing of small business. After completing this topic you should be able to:
   1. explain the need for a financial plan,
   2. summarize how to estimate the money needed to launch a venture,
   3. distinguish between equity and debt financing,
   4. identify various ways to raise money,
   5. discuss financial help offered by federal agencies.

    

10. Identify the need for need for customer loyalty and building a sound customer base for the small business.  After completing this topic you should be able to:
    1. explain the process for determining customer needs and wants
    2. identify how to develop product strategies in the niche market
    3. discuss ways to build the total product offering
    4. identify product strategies within the legal environment.

     

11. Recognize the issues of price, promotion, service and global marketing as they apply to small business. After completing this topic you should be able to:
    1. explain how best to set prices,
    2. discuss the purpose of advertising, publicity, personal selling, and sales promotion,
    3. explain the marketing concept,
    4. discuss the marketing mix,
    5. discuss how to offer credit for the customer base
    6. identify key issues in managing the credit process.
        

12. Recognize the issues of advertising, promotion, and selling techniques important for the small business.  After completing this topic you should be able to:

    1. explain how the communication process is important in the promotion of the small business

    2. define how promotional spending will be used within a business

    3. identify personal selling techniques necessary for a small business

    4. identify advertising practices necessary for a small business

    5. discuss sales and promotional tools that would be advantageous for a small business.

     

13. Identify the need for ethics and social responsibility in the small business workplace. After completing this topic you should be able to:
    1. identify the importance of ethics,
    2. explain the role that values play in ethical behavior,
    3. distinguish between ethics and social responsibility,
    4. detail special problems in building ethical business practices in a small business environment
       
        
14. Describe the tools of management in the areas of planning and control. After completing this topic you should be able to:
    1. identify the problems/stages of growth,
    2. account for the need to set precise goals,
    3. summarize how to set precise goals,
    4. explain how planning and control interact,
    5. define and discuss time management.
       
        
15. Classify issues in human resource management as they apply to small business. After completing this topic you should be able to:
    1. explain the fundamentals of recruiting personnel,
    2. identify evaluating prospects as it pertains to the selection of employees,
    3. detail the needs of employees and how best to meet them,
    4. identify training and development needs of new employees,
    5. identify compensation and incentives for employees in the small business environment
    6. summarize the most important aspects of wage, salary, and fringe benefit policies.
        
16. Analyze financial statements, accounts payable and receivable and inventory management. After completing this topic you should be able to:
    1. explain how financial analysis fits into the process of planning and control,
    2. discuss assessment tools for determining good financial performance,
    3. discuss how to evaluate the working capital cycle,
    4. understand the necessity for, managing cash flow,
    5. discuss managing accounts receivable,
    6. identify the important needs in managing accounts payable,
    7. discuss ways to manage the inventory of a small business,
    8. identify l\the need for capital budgeting within the small business
    9. summarize the advantages/disadvantages of giving credit.
       
        
17. Recognize risk management/insurance issues in small business. After completing this topic you should be able to:
    1. identify/define various kinds of risk,
    2. detail how best to develop a program of risk management,
    3. contrast the different ways of dealing with risk,
    4. summarize various kinds of insurance coverage,
    5. explain the need for a pension plan.

Competency Based Objectives.

Upon completion of this course, the student should be able to:

1. Describe and Discuss the Entrepreneurial Profile & Questionnaire
2. Define the Goals of the business and the function of the goals.
3. Define and discuss the legal form of the business
4. Define and discuss other types of business formations.
5. Define and discuss the description of the business
6. Define and discuss the product and or service of the business.
7. Define and identify the market and or customers of the business.
8. Define and discuss the location of  the business
9. Identify and discuss the competition of the business.
10. Define and discuss the management of the business
11. Define and discuss the personnel of the business.
12. Identify and discuss the marketing strategies of the business.
13. Define and discuss the financial data of the business, including:
 

a. Sources and Applications of Funding
b. Capital Equipment List
c. Balance Sheet
d. Break-Even Analysis
e. Projected Income Statement
f. Cash Flow Projection
g. Proforma Statements
h. Breakeven Analysis
i. Deviation Analysis
j. Historical Financial Reports
k. Timetables

14. Define and discuss the financing proposal of the business.
15. Identify any and all supporting documents of the business plan.
16. Identify and discuss partnership agreements and or identify a corporate checklist.
17. Identify Functional Resumes
18. Identify and discuss resources for the small business
19. Review of Business Plan in a professional and complete manner.

COURSE POLICIES

Attendance:  Class participation on the web site is important for this course.  If, however, you are unable to log into the classroom, the instructor must be contacted immediately.  This will help document the time frame in which you were unsuccessful in getting into your classroom.  This also allows me to make further arrangements to complete the class work.  There will be a three-week period following a class session to make up classroom work only when the internet impedes your progress and the problems have been reported and document by the instructor.

Each student is responsible to complete all required registration/withdrawal requirements.  Do not expect the instructor to do so for you.  Not withdrawing within the proper time limit will cause the student to receive a letter grade based upon his/her current standing in the class at the end of the semester.  Last day to withdraw (“W” grade)  April 15, 2004.  This course will be conducted according to the college student code of conduct and standards of academic honesty.  All college rules and regulations will be enforced as stated in the NJC student handbook and the NJC catalog.  (See page 33 NJC Catalog and page 16 NJC Student Handbook).  If you have a learning or physical disability that will require special accommodation, please notify me by the second week of the semester of enrollment.