Small Business Management

This course is a part of:

Associate of Paralegal Studies

Bachelor of Science in Legal Studies

Bachelor of Business Administration

Bachelor of Science in Psychology

Required Prerequisite :

BUS-101 Principles of Management

This course will examine fundamental principles, problems and practices of entrepreneurship. The goal of the course is to provide the student with a foundation of small business management skills, with the creativity and knowledge of what it takes to develop a successful business. This course will provide the student with a foundation of marketing strategies and principles including location, pricing methods, and funding. We will also emphasize the strategies an entrepreneur might use to develop a successful business online. Students will learn the elements of a good business plan and other aspects of business ownership.

For the duration of the course, the student will participate in a business simulation which will allow for development of business management skills and practice the techniques learned in the course.

Course Learning Outcomes

• Utilize the nine steps of the strategic planning process to design a strategic business plan.

• Conduct a feasibility analysis and create a solid business model.

• Compare the laws, benefits, and drawbacks of various forms of business entities and ownerships.

• Identify the advantages and disadvantages of buying an existing business and delineate the steps in buying an existing business properly.

• Employ competitive marketing strategies, including customer focus, quality, convenience, innovation, service, and speed.

• Utilize the strategies to achieve success in e-commerce, including designing killer websites, and tracking web results.

• Compare pricing methods and strategies for retailers, manufacturers, and service firms and describe the impact of credit on pricing.

• Prepare financial statements as well as conduct a break-even for a small company.

• Create a cash budget and explain the techniques for avoiding a cash crunch.

• Compare the various sources of funding for a small company and describe the advantages of each.

• Explain the stages in the location decision: choosing the region, the state, the city, and the specific site and the criteria affecting the decision for location.

• Run a successful small business, using the principles and lessons from this course.