Department of Business Studies

  1. Course Number and Title:

    MGMT110 Small Business Management

  2. Number of Credits:

    3 credits

  3. Minimum Number of Instructional Minutes Per Semester:

    2250 minutes

  4. Prerequisites:

    None

    Corequisites:

    None

  5. Other Pertinent Information:

    During the course of the semester, students will be expected to perform various Internet search projects relevant to the topics being discussed in class.

  6. Catalog Course Description:

    A review of considerations faced by an individual planning to establish and manage a small business venture. Includes legal forms of ownership, financial planning and resources, and basic considerations in operations and control.

  7. Required Course Content and Direction:

    1. Learning Goals:

      1. The students will appreciate and understand the importance of the role that small business plays in the health and welfare of the American economy.
      2. Students will develop an understanding of the complexity of interdependence that leads to the establishment of more businesses formed to join those already in existence.
      3. Students will learn contemporary business concepts, how a business is formed and why management is the key ingredient to small business success.
      4. Students will understand business terminology and how venture capital is raised.
      5. Students will be exposed to the ethical issues surrounding the ownership and operation of a small business venture.
      6. Students will develop an understanding of the importance of social responsibility in the daily operations of a small business.
      7. Students will appreciate the ever-growing interdependence of small businesses with the larger global business environment.
      8. Students will gather career information for current decisions with the assistance of computer generated Internet search.

    2. Planned Sequence of Topics and/or Learning Activities:

      1. Discuss business success and the importance of the profit motive.
      2. Identify the factors of success or failure in any particular business.
      3. Outline the proper reasons in opting for business ownership.
      4. Recognize the important factors in purchasing an established business.
      5. Define and understand the advantages and disadvantages of a franchise.
      6. Discuss the importance of location.
      7. Differentiate between various forms of layout in physical facilities.
      8. Describe the principles necessary in organizing and staffing a business.
      9. Understand the different types of financing available and what is involved in applying for a loan.
      10. Examine the critical factors a lender is looking for in a business owner.
      11. Discuss the rules of risk management and how to insure a business properly.
      12. Discuss taxes and how they impact a small business.
      13. Understand the importance of and the necessary steps necessary in building a Business Plan.
      14. Identify and define the functions of management.
      15. Discuss the various policies that should be instituted before the business enterprise begins.
      16. Outline the marketing functions as it refers to product, distribution, and promotion of the firms products or services.
      17. Understand the two types of credit and how to use them for maximum leverage.
      18. Discuss financial procedures necessary for the welfare of the business.
      19. Understand the importance of inventory control and how to control crime as it relates to the small business.
      20. Interpret the key accounting statements, and how to use them as a tool for effective management of the business.

    3. Assessment Methods for Core Learning Goals:

    4. Reference, Resource, or Learning Materials to be used by Students:

      1. See course outline for required textbook
      2. Frequent readings from the Wall Street Journal as well as other daily newspaper (e.g. Philadelphia Inquirer, Bucks County Courier Times). Additionally, selected readings from business magazines such as Business Week, Forbes, Fortune, Industry Week, etc.

  8. Teaching Methods Employed:

    1. Lecture
    2. Class discussion
    3. Group projects
    4. Current video cases
    5. Discussion of current cases from the world of marketing as read in the Wall Street Journal.

    Review/Approval Date -11/98