This course is designed to supply prospective and current small business managers with the essential concepts of starting and operating small businesses. The course includes problems in initiating the business, financial and administrative control, marketing programs and policies, economic, legal, and social relationships. The course discusses case studies involving actual business situations. Competency met: Ethical Dimensions (7.0) Fall, Spring, Summer
After completing this course students will be able to:
- Have a fundamental understanding of the most critical areas in small business management.
- Comprehend the legal, ethical obligations, and social environment of owning a business.
- Explain the model of the start-up process for an entrepreneurial venture and small business management.
- Develop an appreciation of the role of new ventures in creating wealth and jobs for the economy.
- Understand the process of entrepreneurship and ways to manage the process including some of the ethical dilemmas that entrepreneurs may face.
- Define the role of entrepreneurship within society, and how it manifests itself in different contexts.
- Analyze small business external and internal environments: competitors, customers, suppliers, legal issues, financing, ethical issues, and social responsibility.
- Illustrate the strategic and operational fundamentals of managing an entrepreneurial business from innovation, implementation, to growth and maturity.
- Asses the set of feasibility considerations associated with various funding options or sources of financing.