MGMT 235 - Small Business Management

3 Credit: (3 lecture, 0 lab, 0 clinical) 3 Contact Hours:

1. Define a small business.
2. Differentiate between a small business owner and an entrepreneur.
3. Explain the contributions of small businesses.
4. Explain current trends for small businesses.
5. Explain the characteristics of successful entrepreneurs.
6. Discuss concerns of small business owners.

Goal 2:  Compare forms of small business ownership.

1. Define a proprietorship.
2. Explain a partnership.
3. Define a corporation.
4. Explain an S corporation.
5. Explain a limited liability company.
6. Explain a limited liability partnership.
7. Explain a nonprofit corporation.
8. Define a joint venture.
9. Define a franchise.

Goal 3:  Demonstrate the process of starting a small business.

1. Explain the process of identifying needs.
2. Explain marketing research.
3. Explain the pros and cons of starting a new business.
4. Explain the pros and cons of buying an existing business.
5. Explain the pros and cons of buying a franchise.
6. Create a business plan.

Goal 4:  Summarize methods of managing a small business.

1. Explain the planning process.
2. Diagram the management model.
3. Explain a SWOT analysis.
4. Create a mission statement.
5. Diagram the product life cycle.
6. Compare price skimming and penetration pricing.
7. Explain the hiring process.
8. Contrast management and leadership.

Goal 5:  Explain how small businesses use promotion.

1. Explain how businesses use advertising.
2. Compare advertising mediums.
3. Contrast advertising and publicity.

Goal 6:  Explain the role of distribution.

1. Explain importing.
2. Explain exporting.
3. Compare types of distribution channels.
4. Explain the role of intermediaries.

Goal 7:  Explain how laws affect small businesses.

1. Explain the Americans with Disabilities Act.
2. Explain the role of the EEOC.
3. Explain Affirmative Action.
4. Define the Family Medical Leave Act.
5. Discuss laws governing child employment.
6. Explain unemployment insurance.
7. Explain the role of the employer in Social Security.
8. Explain worker’s compensation.
9. Explain the role of OSHA.

Goal 8:  Explain issues in communicating with stakeholders.

1. Diagram the communication model.
2. Compare noise and red flag words.
3. Explain barriers to communication.
4. Explain filtering.