Course Outline

BMGT 153 - Small Business Entrepreneurship


Fall Semester 2017

Basic Course Information
Courses numbered 1 - 49 are remedial or college preparatory courses which do not apply toward an A. A. Degree and are not intended for transfer. Courses numbered 50-99 apply toward an AA Degree, but are not intended for transfer. Courses numbered 100 and higher apply toward an AA Degree and/or are intended for transfer to a four-year college or university.

D - Credit - Degree Applicable
BMGT
Small Business Entrepreneurship
Units and Hours
3
3
Graded Only
Hour Type
Units
Weekly Hours
Semester Hours x 16 Weeks
Semester Hours x 18 Weeks
Lecture Category -
3.00
3.00
x 16 Weeks - 48.00
x 18 Weeks - 54.00
Lab Category -
0.00
0.00
x 16 Weeks - 0.00
x 18 Weeks - 0.00
Subtotal -
 
3.00
x 16 Weeks - 48.00
x 18 Weeks - 54.00
Out of Class Hour -
 
6.00
x 16 Weeks - 96.00
x 18 Weeks - 108.00
Totals -
 
9.00
x 16 Weeks - 144.00
x 18 Weeks - 162.00
Hour Type
Units
Weekly Hours
Semester Hours x 16 Weeks
Semester Hours x 18 Weeks
Lecture Category -
3.00
3.00
x 16 Weeks - 48.00
x 18 Weeks - 54.00
Lab Category -
0.00
0.00
x 16 Weeks - 0.00
x 18 Weeks - 0.00
Subtotal -
 
3.00
x 16 Weeks - 48.00
x 18 Weeks - 54.00
Out of Class Hour -
 
6.00
x 16 Weeks - 96.00
x 18 Weeks - 108.00
Totals -
 
9.00
x 16 Weeks - 144.00
x 18 Weeks - 162.00
Catalog Description
An introduction to the creative and innovative managerial practices of successful entrepreneurship. Developing the necessary understanding to design, start, and manage a successful entrepreneur business. An overview of entrepreneurial process and investigate concepts tools and practices associated with identifying or creating new venture opportunities.
Specific Course Objectives
Objective
Upon successful completion of the course, the student will be able to:
  • Assess the personal characteristics and skills that characterize the successful entrepreneur;
  • Evaluate sources of support for small businesses and entrepreneurs and successful business venture;
  • Recognize the significant aspects that are used to identify business start-up ideas – including forms of ownership;
  • Evaluate the financial, marketing, legal, human resource, operations, and general management skills that are essential to successfully launch and operate a successful new venture;
  • Identify and evaluate approaches of entering an entrepreneurship venture – including but not limited to starting a new venture, buying an existing business, or becoming a franchisee.
Methods of Instruction
Methods of Instruction may include, but are not limited to, the following:
Discussion
Group Projects/Activities
Guest Speakers
Lecture
Videos/Film
Content in Terms of Specific Body of Knowledge
  1.  Twenty First Century Entrepreneur
    1. Why start a business
    2. A brief history of entrepreneurial business in the United States
    3. Who are small business owners today
    4. How does society benefit
    5. Entrepreneurship around the world
    6. What is an entrepreneurial business
  2. Individuals Leadership and Entrepreneurial  Business Start-Ups
    1. Founders are the reason why entrepreneurial business works so well
    2. Evaluating your entrepreneurial orientation
    3. Triggers for starting a business
    4. Form a business doing what you like
  3. Business Idea Generation and Initial Evaluation
    1. Generating business ideas
    2. Opportunity Identification
    3. Choosing a business
  4. External Analysis
    1. Defining your industry
    2. Defining your customer
    3. Developing the information for the external analysis of competitors
    4. Developing a competitive map
    5. Additional issues for external analysis
    6. Competitive advantage
  5. Business Mission and Strategy
    1. Mission statements
    2. Sustainable competitive advantage
    3. Strategy
  6. Analyzing Cash Flow and Other Financial Information
    1. Importance of cash flow analysis
    2. Developing cash flow statements and budget
    3. Other financial tools
  7. Financing and Accounting
    1. Key financial issues involved with starting a business
    2. Basic of funding a business
    3. Importance of proper accounting and when starting a business
  8. Financial Analysis
    1. Importance of solid financial foundations in an entrepreneurial business
    2. Techniques for measuring performance
    3. Ratio analysis
    4. Deviation analysis
    5. Use of short surveys in business
    6. Importance of having a measurement focus
  9. Establishing the Legal Foundation
    1. Various legal forms of business to determine the best design for a proposed new business
    2. Basic of contracts
    3. Role of  leases in the legal formation of the new business
    4. How laws, rules, and regulations benefit new business
    5. Importance of copyrights, trademark, and patents to a new business
    6. Role that insurance plays in the risk portfolio of the new business
    7. How to develop an effective board of advisors and board of directors
  10. Human Resources Management
    1. The element of human resources
    2. The process of hiring employees
    3. The means for retaining employees
    4. The pertinent aspects of employee probation and firing
    5. Broad coverage regulations and laws
    6. The unique aspects of human resources within a family business
  11. Marketing
    1. Basic of a marketing plan
    2. How to develop a pricing model
    3. The various types of promotion available to a new business
    4. The methods of sales management
  12. Establishing Operations
    1. The use of critical path chart
    2. How location can be used as a competitive advantages of new firm
    3. The various methods with which a new firm establishes legitimacy in the market
    4. The importance of production charting is accomplished
    5. The importance of quality as a competitive tool
    6. The type and condition of equipment needed as start-up
    7. How timing is a competitive advantage
    8. The issues related to time management in the starting of a new business
  13. Exit/Harvest/Turnaround
    1. Need for developing an exit or harvest plan and ideal timing for that plan
    2. Step for selling a business
    3. Turnaround and business in decline
    4. Implication and issues involved in closing a business
  14. Franchising and Purchasing an Existing Business
    1. Elements of franchising
    2. Process of buying a franchise
    3. The process for buying an existing business.
Textbooks/Resources
Textbook
Charles E. Bamford and Garry D. Bruton
Entrepreneurship The Art, Science, and Process for Success
2e
New York
MC Graw Hill
2016
Assignments
Weekly chapter readings in the textbook.
The business section of locally published daily newspapers. Wall Street Journal Business Week Entrepreneur Magazine Inc. Magazine
In addition to completing selected textbook and workbook problems, students will prepare and write a business plan of sufficient quality that they could take to a lending officer to apply for a loan.
In addition to completing selected textbook and workbook problems, students will prepare and write a business plan of sufficient quality that they could take to a lending officer to apply for a loan.
In addition to completing assigned textbook readings and problems and preparing the business plan, students are expected to bring to class pertinent articles relevant to the course and of interest to all class members; to share interesting work experiences with the class; and, to videotape presentations of businesses in operation followed by discussions with operators/owners.
Methods of Assessment
Evaluation Method
  • Class Participation
  • Class Work
  • Demonstration
  • Exams/Tests
  • Group Projects
  • Homework
  • Oral Presentation
  • Papers
  • Portfolios
  • Projects
  • Quizzes
Open Entry/Open Exit
- Not Open Entry/Open Exit
Repeatability
No
Contact Person
Martin, L. Jackie