MGNT 351
STARTING AND MANAGING A SMALL BUSINESS

1. Catalog Entry

MGNT 351. Starting and Managing a Small Business
Three hours lecture(3).

This course is designed for students who want to learn more about starting and operating small businesses. Major topics include: identifying business opportunities, evaluating market potential, choosing a form of ownership, understanding tax responsibilities, obtaining financing, and preparing a business plan. Students are advised to take one or more of the following courses: ACTG 212; FINC 331; and MKTG 340 before enrolling in this class.

2. Detailed Description of Content of the Course

• Outline of Major Topics
• Characteristics of small business owners.
• Identifying unique skills, competencies, and resources.
• Systematic approaches to identifying business opportunities.
• The role of innovation in small business start-up.
• Evaluating and screening product/service ideas.
• Assessing market attractiveness.
• Strategy formulation and competitive positioning.
• Choosing a form of ownership.
• Tax responsibilities.
• Identifying and evaluating capital requirements.
• Sources of financing.
• Decision criteria used by lenders and investors.
• Components of a business plan or feasibility plan.

3. Detailed Description of Conduct of the Course

Starting a Small Business will include a variety of learning experiences including some combination of lectures, student presentations, library and field research projects, written assignments, analysis of cases, outside reading assignments, guest lecturers, analysis of articles in contemporary magazines and journals, and video tape presentations.

4. Goals and Objectives of the Course

At the conclusion of the course, the student will be able:

1. To identify product/service opportunities for starting a business.
2. To evaluate potential market opportunities.
3. To understand the tax, legal, and managerial implications of various forms of ownership.
4. To identify sources of financing.
5. To prepare a business plan or feasibility plan.

5. Assessment Measures

Assessment of the student's success in the course is based on examinations during the semester, business plan/feasibility plan, project presentation, and other class engagement exercises.

6. Other Course Information

Personal computer software will be used to facilitate the preparation of business plans.

7. Review and Approval

DATE ACTION APPROVED BY
10-06-04, reviewed and approved by the Dept. of Management and Marketing faculty