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MG 354 Small Business Management
F1T 2006 DLA
MBA - Redlands University - Redlands, CA
BS Business Administration - Arizona State University - Tempe, AZ
AA Business - Mesa Community College - Mesa, AZ
Any Reasonable Time (AZ Time-Zone)
602 432 4141
Required Texts/Materials Title: Small Business Management, 13th edition Authors: Longenecker, Moore, Palich, and Petty ISBN: 0-324-31400-0
Textbooks can be purchased though the MBS bookstore
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A detailed study of the relationship and functions of accounting management, financial management, and marketing in the successful initiation and operation of a small business.
Welcome to Small Business Management (Management 354), on line! This course focuses on several aspects involved in beginning and successfully operating a small business. It is designed for students who are thinking about starting a small business, students working in, or running a small business, and those students who are merely interested in the topic. The emphasis will be on teaching the students some practical knowledge, which they can apply in the "real" world. Because it is a business course about entrepreneurship, Small Business Management focuses on helping you develop an effective business plan. In the course, you will analyze, discuss, and perform writing tasks familiar to most businesses, such as marketing plans and financial statements. You'll learn how to perform research for these writing tasks using the extraordinary resources of the World Wide Web. Finally, we'll present topics to help you understand more about the overall small business management process, to include the importance of diversity and multiculturalism.
Each week we'll focus on different small business situations, issues, or problems through our online conferencing discussions; these are reinforced and expanded in readings in our text, Small Business Management, Twelfth Edition.
After Week 1, you should be able to: Discuss the availability of entrepreneurial opportunities and give examples of successful businesses started by entrepreneurs. Explain the entrepreneurial challenges presented by e-commerce and global change. Explain the nature of entrepreneurship and how it is related to small business. Identify three motivators or rewards of entrepreneurial careers. Describe the various types of entrepreneurs and entrepreneurial ventures. Identify ways to gain a potential competitive edge for small entrepreneurial firms. Discuss factors related to readiness for entrepreneurship and getting started in an entrepreneurial career. Define competitive advantage. Describe the factors that comprise external environments. Identify and compare broad-based strategy options for the entrepreneurial venture. Explain the focus strategy concept and its importance to small business. Discuss the importance of the sustainability of competitive advantage.
After Week 2, you should be able to: Explain how the Internet developed and how it supports e-commerce activity. Understand the benefits of e-commerce to small firms. Describe the different business models followed by e-commerce firms. Identify the initial considerations in launching a dot.com business. Discuss criminal and ethical issues related to e-commerce. Describe the potential of small firms as global enterprises. Identify the basic forces prompting small firms to engage in global expansion. Identify and compare strategy options for global businesses. Explain the challenges that global enterprises face. Recognize the sources of assistance available to support international business efforts.
After Week 3, you should be able to: Identify five factors that determine whether an idea is a good investment opportunity. Give three reasons for starting a new business rather than buying an existing firm or acquiring a franchise. Distinguish among the different types and sources of startup ideas. List some reasons for buying an existing business. Summarize three basic approaches for determining a fair value for a business. Describe the characteristics of highly successful startups. Explain franchising terms and the structure of the industry. Identify the major pros and cons of franchising. Describe the process for evaluating a franchise opportunity. Discuss certain legal considerations in franchising. Discuss the factors that make a family business unique. Explain the cultural context of a family business. Outline the complex roles and relationships involved in a family business. Identify management practices that enable a family business to function effectively. Describe the process of managerial succession in a family business.
After Week 4, you should be able to: Answer the question, "What is a business plan?" Explain the need for a business plan from the perspectives of both internal and external users. Describe what determines how much planning an entrepreneur and a management team are likely to do. List practical suggestions to follow in writing a business plan and outline the key sections of a business plan. Identify available sources of assistance in preparing a business plan. Describe small business marketing. Discuss the nature of the marketing research process. Define market segmentation and its related strategies. Explain the different methods of forecasting sales. Identify the components of a formal marketing plan. Identify the factors affecting choice of a business location. Describe the attraction and challenges of a home-based business. Explain how efficiency can be achieved in the layout of a physical facility. Understand the equipment needs of small firms.
After Week 5, you should be able to: Describe the purpose and content of the income statement and the balance sheet. Compute a firm's cash flow. Forecast a new venture's profitability. Estimate the assets needed and the financing required for a new venture. Describe how the nature of a firm affects its financing sources. Evaluate the choice between debt financing and equity financing. Describe various sources of financing available to small firms.
After Week 6, you should be able to: Explain how customer satisfaction influences customer loyalty. Identify the key characteristics of consumer behavior. Explain product strategy and related concepts. Describe the components of a firm's total product offering. Describe the legal environment affecting product decisions. Explain the role of distribution in marketing. Describe the major considerations in structuring a distribution system. Discuss the role of cost and demand factors in setting a price. Apply break-even analysis and markup pricing. Identify specific pricing strategies. Explain the benefits of credit, factors that affect credit extension, and types of credit. Describe the activities involved in managing credit. Describe the communication process and the factors determining a promotional mix. Discuss methods of determining the appropriate level of promotional expenditure. Describe personal selling activities. Identify advertising options for a small business. Describe sales promotional tools.
After Week 7, you should be able to: Explain the importance of employee recruitment, and list some sources that can be useful in finding suitable applicants. Identify the steps to take in evaluating job applicants. Describe the role of training for both managerial and non-managerial employees in a small firm. Explain the various types of compensation plans including the use of incentive plans. Discuss the human resource issues of employee leasing, legal protection, labor unions, and the formalizing of employer-employee relationships. Identify the kinds of ethical issues in small businesses and explain the special vulnerability of small firms. Describe practical approaches for building an ethical business. Explain the impact of social responsibilities on small businesses. Describe the special challenges of environmentalism and consumerism.
After Week 8, you should be able to: Identify the basic requirements for an accounting system. Explain two alternative accounting options. Describe the purpose of and procedures related to internal control. Evaluate a firm's liquidity. Assess a firm's operating profitability. Measure a firm's use of debt or equity financing. Evaluate the rate of return earned on the owner's investment.
Core Learning Outcomes
- Define the term “small business”.
- Explain how owning and operating a small business is different from operating other types of businesses.
- Identify the factors that make a family business unique.
- Identify the major advantages and limitations of franchising.
- List some reasons for buying an existing business.
- Describe the characteristics of highly successful startups.
- Describe the purpose and contents of financial statements.
- Explain how risk management can be used in coping with business risk
- Explain the importance of having an exit strategy.
The assessment device is a comprehensive business plan that is written in class during week 13 of sixteen week classes and during week 7 of eight week classes. The business plan should address the solutions that are presented by knowledge of the above objectives.
Assignments - Assignment - Points - Due Date
Discussion Questions/Topics (16%) - 10 pts/week = 80 pts - Wednesday of each week
Summary Questions (8%) - 5 pts/week = 40 pts - Sunday of each week
Weekly Reports (35%) - 25 pts/week = 175 pts - Sunday of each week
Final Exam (20%) - 100 pts / Friday of 8th week
Business Plan Report (20%) - 100 points - Sunday of 8th week
Course Grading Scale - Maximum Points are 500.
A = 450 - 500 points
B = 400 - 449 points
C = 350 - 399 points
D = 300 - 349 points
F = < 300 points
The comprehensive final is not a take-home test.
The comprehensive final is a closed book and closed notes exam
For all online courses, the student must pass the final exam with 60% or better to pass the course.
Grading Rubrics An "A" Report/Discussion Answers/Summary Answers
• has a clearly defined purpose • employs a clear, concise writing style
• is clearly organized • uses excellent page design
• follows all written or posted instructions precisely and thoroughly
• contains no distracting mechanical errors • includes complete source citations as appropriate
• "WOW" Factor for the Professor
A "B" Report/Discussion Answers/Summary Answers
• is very good
• follows all instructions thoroughly
• shows a clear understanding and completion of objectives
• demonstrates a good understanding of Standard English mechanics but may contain some very minor errors, inconsistencies, or awkwardness
• is thoroughly and competently completed, but perhaps somewhat less impressively thorough than an "A" paper
A "C" Report/Discussion Answers/Summary Answers
• is adequate (generally satisfactory but could clearly be improved in specific areas)
• follows all instructions but could be improved in terms of development/thoroughness
• seeks to fulfill all objectives competently
• is complete, but will improve with additional attention
• may have noticeable, but not habitual, mechanical errors
• may need clearer page design
• may misconstrue details requested in the instructions
A "D" Report/Discussion Answers/Summary Answers May demonstrate some or all of the following:
• fails to follow some more minor instructions
• employs an inconsistent writing style
• contains a detrimental number of mechanical errors
• has organizational weaknesses, including poor page design
• needs clearly identifiable (and possibly substantial) improvement and/or development
• generally follows instructions but needs improvement
• shows only a partial understanding of objectives
• needs additional polish in the use of Standard English mechanics
• is not missing vital information, but clearly needs additional attention
An "F" Report/Discussion Answers/Summary Answers may demonstrate some or all of the following:
• disregards instructions
• has no clear purpose
• has no clear format
• uses inadequate or confusing page design
• employs a convoluted, illegible writing style
• contains no citation of sources
• contains an unreasonable or habitual number of mechanical problems
• needs major improvement and development
• fails to show understanding of objectives
• shows consistent carelessness concerning mechanics
• is demonstrably incomplete Grading Criteria -
• Discussion Questions: To earn the full ten points, you must answer all parts of each question and your answers must be submitted by the due date. One or two sentence answers will not earn the full ten points.
• Summary Questions: To earn the full five points, you must answer each question and your answers must be submitted by the due date.
• Weekly Reports: To earn the full 25 points for weeks 1 - 7, all report criteria must be met for that specific week and submitted by the due date. Also, all reports must be a minimum of two full pages in length, double-spaced, with font no smaller/larger than 12 pt. Up to 10 points will be deducted for mistakes in English, spelling, punctuation, etc.
To earn the full 125 points for the Week 8 Report, all report criteria must be met and submitted by the due date. The Week 8 Report must be a minimum of 10 full pages in length, double-spaced, with font no larger than 12 pt. Up to 25 points will be deducted for mistakes in English, spelling, punctuation, etc.
• Proctored Final Exam: This will be a case analysis where you will answer three to four questions within a specified time limit. To earn the full 80 points, you must address all aspects of each question. Points will not be deducted for mistakes in English, spelling, punctuation, etc. My goal is to give you prompt, clear, and useful feedback to help you become a more successful student and thinker.
Each student is responsible for:
• Completing weekly Reading assignments.
• Completing Weekly Discussion Questions
• Completing Weekly Summary Questions
• Completing writing assignments, referred to as Reports.
• Completing a Final Examination
Course Grading Scale - A = 450 - 500 points
B = 400 - 449 points
C = 350 - 399 points
D = 300 - 349 points
F = < 300 points
Late Submission of Course Materials:
Submission of Late Work: You may turn in the Week 1 assignments at anytime before week 3 with no late penalty. Beginning with Week 2, the following policy will be in effect for late assignments: One day late: 10% of the total possible points will be deducted from the earned grade. For example, if the assignment is worth 25 points and it is one day late, 2.5 points will be deducted from the final earned point total. Two days late: 30% of the total possible points will be deducted. For example, if the assignment is worth 25 points, and it is two days late, 7.5 points will be deducted from the final earned point total. Three days late: 50% of the total possible points will be deducted. For example, if the assignment is worth 25 points, and it is three days late, 12.5 points will be deducted from the final earned point total. More than three days late: No points for that assignment. I must have all assignments, to include your proctored final, by the last day of the term. Any assignment received after Saturday of week 8 will not be graded and will earn zero (0) points. There will be no exceptions to this policy.
Classroom Rules of Conduct:
Proctored final examination - An examination will be taken in a proctored testing environment during the 8th week at one of the Park University sites around the country or at an alternative location approved by me. For proctored examinations, photo identification is required at the time of the test. Guidelines for selecting an acceptable proctor can be found on the Park University Website.
Other Information on proctored exams:
• It will be the responsibility of the student to arrange for a proctor, by the 3rd week of the term, who is accepted and approved by the course instructor.
• Approval of proctors is the discretion of the Online instructor.
• A proctor request form will be made available to you during the first week of class so that you can send your requested proctor to your instructor for approval.
• Failure to take a final proctored will result in an automatic "F" grade.
Assignments - Assignment - Points - Due Date Discussion Questions/Topics - 10 pts/week = 80 pts - Wednesday of each week Summary Questions - 5 pts/week = 40 pts - Sunday of each week Weekly Reports - 25 pts/week = 175 pts - Sunday of each week Final Exam 100 pts / Saturday of 8th week Business Plan Report - 100 points - Saturday of 8th week
Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life. Park University 2006-2007 Undergraduate Catalog Page 87-89
Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. Park University 2006-2007 Undergraduate Catalog Page 87
Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.
ONLINE NOTE: An attendance report of "P" (present) will be recorded for students who have logged in to the Online classroom at least once during each week of the term. Recording of attendance is not equivalent to participation. Participation grades will be assigned by each instructor according to the criteria in the Grading Policy section of the syllabus.
- The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
- Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
- In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "W".
- A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
- Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
- Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.
Park University 2006-2007 Undergraduate Catalog Page 89-90
Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability .
Copyright:This material is copyright and can not be reused without author permission.
Last Updated:8/15/2006 12:49:29 AM