BUS4001 Small Business Management

BUS4001 Small Business Management

PREREQUISITES:

COURSE DESCRIPTION:

This course introduces small business management and the multitudes of management skills required for successful operation. Small businesses are unique because they contain most of the elements found in large corporations, yet they have additional characteristics and peculiarities, advantages and disadvantages. Over 80% of all businesses are classified as small businesses. Small business management requires a person who is a generalist and a specialist, an innovator and a stabilizer. The small business manager can be expected to have knowledge of all aspects – internal and external – of the business.

NUMBER OF ACTIVITIES: 10

LEARNING OUTCOMES:

1.0 - Identify and discuss challenges entrepreneurs encounter in the small business environment.2.0 - Examine various types of business ownership.3.0 - Review the major steps in planning and organizing a small business.4.0 - Apply marketing concepts to grow a small business.5.0 - Explore management techniques including total quality management.6.0 - Explain and apply financial planning theories and the management of working capital.7.0 - Weigh the value of risk management and continuity on business success.

COURSE CONCEPTS:

1. Entrepreneurship and small business management 2. Paths to business ownership 3. Planning and organizing the business 4. Marketing for growth 5. Business process management 6. Financial planning 7. Planning for change

PRIMARY RESOURCES:

These resources are required to complete the course.

Please make sure that you purchase the primary textbook(s) that match the syllabus you are issued. Please let your assigned Mentor know through the NCU messaging system what text(s)

you have purchased. NCU cannot be responsible for Learner purchase of books that do not match assigned syllabi.

BookAllen, K. (2007) Growing and managing a small business: An entrepreneurial perspective (2nd ed.). Boston: MA: Houghton Mifflin Co. ISBN: 9780618705092

You may purchase books at EdMap.

ADDITIONAL RESOURCES:

These resources must be used to complete the assignments.

There are no Additional Resources for this course.

MENTOR RESOURCES

There are no Mentor Resources for this course.

SUPPLEMENTAL REFERENCES & READINGS:

These resources are not required, but may provide assistance in completing your work for this course. Please copy and paste any web links listed below into your browser to view the websites.

NCU Library Guide:http://library.ncu.edu/research_help/guide.aspx?guide_id=584

GENERAL INFORMATION:

COURSE PARTICIPATION: Learners are ultimately responsible for participating in a course through the following academic activities: uploading assignments, posting to discussion folders and responding to Mentor and Academic Advisor inquiries. Learners are expected to be involved in ongoing instructional activities based on the recommended schedule for course completion as detailed in the syllabus. In order to actively participate in a course, Learners must make contact with their faculty Mentor on a regular basis through one of the following methods:

Posting of an assignment (e.g., a paper or project) in the Course Work area of the course web site.

Posting of an assignment to share with the faculty Mentor and other Learners in the course web site (e.g., a review of a book or article, a proposal for a research study, a presentation in the form of a PowerPoint presentation file, reporting on participation in a research study).

Participation in a threaded discussion in the course web site (e.g., commenting on a discussion question posted by the faculty Mentor, providing feedback to another Learner).

Viewing instructional materials (e.g., a PowerPoint presentation prepared by the faculty Mentor, a streaming audio or video presentation).

Learners must use the NCU messaging system on the course web site to contact faculty Mentors. Learners who are unable to regularly participate in their course should contact their faculty Mentor.

PRELIMINARIES/PRE-COURSE SURVEY: Review the Learner Area web site http://learners.ncu.edu. Access and review the Course Catalog, which contains all relevant policies and procedures applicable to Learners, and complete the Pre-Course Survey. Please read the entire course syllabus before beginning course work. The survey goes directly to the Mentor and gives the Mentor information about new Learners entering the course.

ASSIGNMENT SUBMISSIONS: When you "create" new assignments, use headers and footers to indicate your name, course, assignment number. For instructions about creating headers and footers, go to the Help file for the word processing program you use. Name the file using this format: DoeJXXX0000-1. The "1" stands for the assignment number. Save the file in RTF (Rich Text Format). Open the Learner Area, click on the course code. Find the Course Work area. Read the Help file by clicking on the "?". When ready, click on the "+" and select your assignment file by browsing. Your file will be uploaded to the server. Your Mentor will receive a message that homework has arrived. When the Mentor grades your work, the Mentor will upload the graded assignment and you will receive a message that course work has arrived. You may then view your graded assignment in the Assignment area. If you have questions, please contact your Learner Advisor at 1-888-327-2877. Bulk assignments are not acceptable. Assignment Cover Sheets are required for all assignments that you upload into the Assignment area. The NCU Assignment cover sheet can be found under University Documents from your Learner site. It is suggested that you download and save a copy of this cover sheet.

Learners may submit assignments early, but may not submit the next assignment until they have received a grade on the previous one. Assignments must not be submitted together. Submitting assignments in the order assigned will insure that you are progressing according to academic standards and following the design of the course.

Exceptions to the RubricActivities that do not require a written response will be evaluated without use of the rubric. Certain courses/activities do not warrant a written product. Examples include math courses involving solving equations or courses that contain multiple choice exams. In these cases, the writing portion of the rubric does not apply. Scoring for these courses will be based on how many items were answered correctly out of the total number of items possible. RECEIVING YOUR FINAL GRADE: The final grade should be posted by your Mentor within one week following the course end date. The registrar will send you an e-mail notifying

you of your grade and the grade will also appear on your Learner site, under the COURSE REVIEW section.

POST COURSE SURVEY: Complete the Post Course Survey after you finish your final assignment. The Post Course Survey goes directly to the University and provides information used in both course and Mentor evaluation and assessment. The Post Course Survey is located in the Course Review section of the Learner Website THE RESPONSES ARE ANONYMOUS.

COURSE SPECIFIC INFORMATION:

INSTRUCTIONS FOR RESPONDING TO ACTIVITIES: For syllabi with an Effective/Approved Date of 1/1/2007 or later, the following instructions are to be used to respond to Discussion and Course Work Activities. To respond to each activity in a course with a syllabus dated 1/1/2007 or later, go to your course page and click the Activities Tab. For Discussion responses:

1. Click on the corresponding Activity.2. Enter your discussion response under Add a New Entry Message. Do not load a file in

response to a discussion, unless it is a supporting resource for your discussion comments that you would like all participants to view.

3. Click Add New Discussion Entry. This will send an alert to your Mentor that your discussion response is complete.

4. If you want to make a private comment or load a file for your Mentor, please do so at the bottom of the Activity screen in the Course Work posting area.

For Course Work responses:

1. Click on the corresponding Activity.2. Go to the bottom of the Activity screen to Course Work posting area, click the +

sign. 3. Type in the Assignment name.4. Browse for and load your file.5. Enter any appropriate comments, click the Academic Integrity Agreement, and then

click Send.

For courses with a syllabus Effective/Approved Date prior to 1/1/2007, you will respond to Discussion Activities in the Course Discussion Forum. If you want to send comments or supporting files to your Mentor, do so on the Activities Tab, click on the appropriate discussion Activity, and enter your comments and/or load you file at the bottom in the Course Work area. The Effective/Approved Date for every NCU syllabus appears at the bottom of all web based syllabi, which you can see by clicking on “Display Syllabus on the Screen” on your Learner Course page.

If you do not have an Activity listed below to provide an introduction in a discussion format, your first assignment is to send a message to your Mentor via the NCU messaging system introducing yourself. Include your name, educational background and at least one expectation you have for this course. You may add other information that will provide insight into your professional and educational goals. This activity is not graded but provides valuable information to your Mentor regarding your participation in the course. Please limit your response to 300 characters or less.

Overview

Section 1: Entrepreneurship and Small BusinessActivity 1: Discussion - Identify Entrepreneurial Challenges 5 PointsActivity 2: Paper - Small Business Venture Plan 13 PointsSection 2: Planning, Organizing, and Marketing the BusinessActivity 3: Discussion - Planning for Business Success 5 PointsActivity 4: Presentation - Marketing to Business Growth 13 PointsSection 3: Business Process Management and Financial PlanningActivity 5: Discussion - Factors of Management Decision Making 5 PointsActivity 6: Paper - Explain Financial Management Theories 13 PointsSection 4: Planning for ChangeActivity 7: Discussion - Weigh Key Decisions in Risk Management 5 PointsSection 5: Small Business ProposalActivity 8: Paper - Small Business Application 16 PointsSection 6: Signature Assignment and Reflective SummaryActivity 9: Signature Assignment - Business Start-up Advice 20 PointsActivity 10: Paper - Reflective Summary 5 Points

Section 1: Entrepreneurship and Small Business

Since small businesses play a key role in the economy, owners should assess the influence of proposed legislative policies on the future of their businesses. Entrepreneurial business owners will face five major challenges over the next few years: (a) the strength of the overall economy, (b) increased taxes and regulations, (c) availability of health insurance, (d) retaining quality workforce, and (e) global competition. Small business owners can look forward to four opportunities: (a) increased technology and innovation, (b) international markets, (c) education and training, and (d) promoting ownership demographically.

Course Resources The Resources area for this course contains a variety of reference materials that may help you to complete the course Activities. It is suggested that you become familiar with these resources before you begin the Activities.

NCU LibraryReferences used for research need to be peer reviewed/scholarly journals which can be found by searching the NCU Library databases. These journals typically have the following characteristics:- Articles are reviewed by a panel of experts before they are accepted for publication.

- Articles are written by a scholar or specialist in the field.- Articles report on original research or experimentation.- Articles are often published by professional associations.- Articles utilize terminology associated with the discipline.

NCU Writing CenterNCU values your progress and success as a scholarly writer. Please access the NCU Writing Center from your Learner home page to see a wide variety of writing tips and examples to help you as you compose written submissions for this and other NCU courses.

-Coursework; -Discussion

Required Reading:Growing and Managing a Small Business: 1, 2, 3, 7

Activity 1: Discussion - Identify Entrepreneurial Challenges 5 Points

Identify Small Business Challenges

Review the five challenges entrepreneurs might encounter when they start their own small business. Propose two challenges that you believe to be the greatest challenges in the future for entrepreneurs. Defend your opinions.

Length: 100-250 words

Your posting should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to the topic. Your response should reflect scholarly writing and APA standards.

Paste the response into the Discussion area below the Activity screen.

Learning Outcome: (1)

Activity Outcomes

Identify and discuss challenges entrepreneurs encounter in the small business environment.

Activity 2: Paper - Small Business Venture Plan 13 Points

Create a Business Venture PlanIdentify a small business venture you would like to attempt. Is your venture a franchise business,

family-operated business, or would you create your own business? Would e-Commerce be used to sell your product or service? Discuss the type of legal form you would choose for your business. In order to examine this idea thoroughly, your paper should include the following sections:

1. Introduction - an Overview of the selected business, industry, market, plus a description of the organization

2. Competition - a summary of the types of companies in your selected business and some ideas on market share

3. Customers - an overview of the segments of customers, who will be using the products and services and why

4. Goals - Objectives of the business, specific promotional programs, location, pricing, target sales and revenue

5. Financial - estimated period revenues for first year by quarter, investment in business, cash needed, profitability

6. Benefits - Overall summary of the best ideas of the new business, why is the business a good deal, will it succeed


Your writing should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and APA standards. You should reference your textbooks and other outside scholarly resources. Be sure to include an NCU coversheet as well as an APA cover sheet at the beginning of your paper.

Submit your document in the Course Work area below the Activity screen.

Learning Outcomes: (1, 2, 3)

Activity Outcomes


Examine various types of business ownership. Review the major steps in planning and organizing a small business.

Section 2: Planning, Organizing, and Marketing the Business

Successful, growing businesses should maintain a current business plan. You will want to gather all relevant information that will contribute to the development of your business in the following

essential areas to represent the customer products or services that define your business: (a) marketing and sales management, (b) business description, (c) organization and management, (d) service and product line, (e) funding, (f) financials, (g) and executive summary.

You will also want to prepare for marketing growth and acquire information about the critical needs of your potential customers, the degree of needs that are not being met, and the number of potential customers. You should constantly compile an estimate of the gain in market sharing, trends, pricing, purchasing cycle, and market targets for your business.


Required Reading:Growing and Managing a Small Business: Chapters 8, 9, 10, 11, 12, 13

Activity 3: Discussion - Planning for Business Success 5 Points

How to Prepare a Persuasive Business Plan

Discuss how to prepare a persuasive business plan and explain how a management team and human resource plan help a business to succeed.





Activity Outcomes

Review the major steps in planning and organizing a small business.

Activity 4: Presentation - Marketing to Business Growth 13 Points

Create a Marketing Strategy PresentationDesign a PowerPoint that demonstrates a marketing strategy that includes the role of e-Commerce and the Internet as a means for developing a marketing strategy for a small business’ products and services. Include market tests, lead times, and competitive analysis with regulatory restrictions.

Length: 8-10 slides with a separate reference slide

Your presentation MUST include notes that contain 50-100 words per slide (this is your script). Be sure to include citations for quotations and paraphrases with references in APA format and style. Save the file as a PPT file with the correct course code information in the name.

Submit the completed assignment in the Course work area below the Activity screen.


Activity Outcomes

Apply marketing concepts to grow a small business.

Section 3: Business Process Management and Financial Planning

The strategic planning process is a business process that assists business owners to plan, make decisions, and manage their business in uncertain times. It is also a means to obtain accurate and continuous information about changes in the organization and in the environment. The information is used to focus direction, derive operational plans, and implement these plans while continuously evaluating the planning and management activities. The basic elements to begin developing a strategic plan process are: (a) mission, (b) values, (c) vision, and (d) goals and strategies.


Required Reading:Growing and Managing a Small Business: Chapters 14, 15, 16, 18

Activity 5: Discussion - Factors of Management Decision Making 5 Points

Basic Business Values

Reflecting on the elements of the strategic plan process, discuss the basic business values that you would consider when making a decision to target marketing locations.





Activity Outcomes

Explore management techniques including total quality management.

Activity 6: Paper - Explain Financial Management Theories 13 Points

Capital Start-up CalculationsDescribe the process for calculating how much capital is needed to start a business. Also, list and explain the purpose of the three main financial statements.





Activity Outcomes

Explain and apply financial planning theories and the management of working capital.

Section 4: Planning for Change

A business system is a network of interdependent components that work together to accomplish the vision of the business. Leaders and management have a responsibility to plan for change and govern the future. Preparation for change and the future includes lifelong learning for employees, scanning of the environment, and preserving the need for innovation.


Required Reading:Growing and Managing a Small Business: Chapters 19, 20

Activity 7: Discussion - Weigh Key Decisions in Risk Management 5 Points

Basic Business Values

Discuss the value of risk management and succession planning to a small business.





Activity Outcomes

Weigh the value of risk management and continuity on business success.

Section 5: Small Business Proposal

Unlike a business plan, which is written to run your company and raise capital, a business proposal is an unsolicited or solicited bid for business.


Required Reading:Growing and Managing a Small Business: Review all chapters

Activity 8: Paper - Small Business Application 16 Points

Bid for a BusinessA proposal is a written description of how one organization can meet the needs of another, for example, provide products or services or solve problems. Businesses issue “calls for bids” that present the specifications for major purchases of goods and certain services. Most Governmental agencies issue “requests for proposals,” or REPs. Potential suppliers prepare proposal reports telling how they can meet that need. Those preparing the proposal credit a convincing document that will lead to their obtaining a contract. In our information-intensive society proposal preparation is a `major activity for many firms. In fact, some companies hire consultants or designate employees to specialize in proposal writing (Lehman & DuFrene, 2007)

Select a product that you would like to sell, and write a proposal to win a bid for business. Include the following elements:

• Project objectives• Solutions your business will provide• Benefits to be gained from doing business with your company

• Services you will provide and the duration of the project• Cost of the project• Third-party endorsements that will build credibility• Evidence of your ability to deliver product• Language appropriate to your area of expertise, and the use of appropriate jargon

Example:You have received an invitation to bid on selling your product, designer hospital uniforms, to St. Francis Hospital. They would initially purchase 300 uniforms and more upon acceptance by the hospital workers. In your bid you have the opportunity to point out the following:

• Your company could provide a range of sizes and patterns.• The garments are easily washable. • Describe some of the advantages your company can provide.• Name one or more companies that have purchased your product in the past and found it satisfactory.• Describe previous companies using your product. • You may have other signs of reliability, such as results of a survey or tests.




Learning Outcomes: (1, 2, 3, 4, 5, 6, 7)

Activity Outcomes


Examine various types of business ownership. Review the major steps in planning and organizing a small business. Apply marketing concepts to grow a small business. Explore management techniques including total quality management. Weigh the value of risk management and continuity on business success.

Section 6: Signature Assignment and Reflective Summary

The Signature Assignment and reflective essay should show how you: (a) demonstrate mastery of the course material, and (b) apply this knowledge to the real world.


Required Reading:Growing and Managing a Small Business: Review all chapters

Activity 9: Signature Assignment - Business Start-up Advice 20 Points

Advise Potential Business OwnersWrite a paper that addresses the following hypothetical business scenario: Amanda and Phillip are a newly married couple, both age 30. They live on a modest income and have $30,000 in a joint bank account. They recently purchased a condo together. Someday, they would like to have children. She works at a department store and attends art college at night. He worked as a computer technician until he was laid off last week.

Amanda and Phillip would like to start their own small business and sell art supplies. However, they are unsure of what it takes to start a new business venture. They have come to you for advice.

Summarize and explain to Amanda and Phillip the various concepts and ideas discussed in this course. How would their given circumstances influence the advice you will give them?





Activity Outcomes


Examine various types of business ownership. Review the major steps in planning and organizing a small business. Apply marketing concepts to grow a small business. Explore management techniques including total quality management. Explain and apply financial planning theories and the management of working

capital. Weigh the value of risk management and continuity on business success.

Activity 10: Paper - Reflective Summary 5 Points

Final Wrap-upWrite a reflective essay that explains how this course has changed and expanded your thinking in a professional and academic sense. Share the concepts and issues that were of greatest interest to you and why. How do you plan to apply this new knowledge in your life or profession?


Your essay should demonstrate your ability to think critically using the terminology, concepts, and relationships presented in the course material, and should be supported by documentation from the text and other resource materials following APA style and format guidelines.

Submit the completed assignment in the Course Work area of the Activity screen.


Activity Outcomes


Examine various types of business ownership. Review the major steps in planning and organizing a small business. Apply marketing concepts to grow a small business. Explore management techniques including total quality management. Explain and apply financial planning theories and the management of working

capital. Weigh the value of risk management and continuity on business success.

Effective Date: 7/8/2009

Copyright (C) 2009 Northcentral University

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