ENTR 450: Owning and Managing a Business
Credit Hours: (3)
Designed for students who want to learn more about owning and operating a business. The focus will be on developing a plan for managing a small to medium sized business. Students will learn the basic business knowledge and skills necessary to successful operate a business.
Note(s): Applied Learning designated course. Students are advised to take one or more of the following courses: ACTG 212; FINC 331; or MKTG 340 before enrolling in this class.
Detailed Description of Content of Course
Outline of Major Topics:
•Determining the optimal business model
•Developing vision, mission, goals, and strategies
•Developing and managing the marketing mix
•Managing assets accounting for firm activities
•Acquiring and managing financial resources
•Managing and evaluating firm performance
•Managing human resources
•Identifying and managing risks
•Preparing a succession plan
•Evaluating exit strategies.
Detailed Description of Conduct of Course
Owning and Managing a 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.
Goals and Objectives of the Course
At the conclusion of the course, the student will be able to:
- Evaluate potential market opportunities
- Identify business opportunities and threats
- Evaluate businesses performance
- Prepare a long range plan that addresses strategic and succession issues
- Understand critical issues in managing assets, human resources, financial resources and risk in a privately held firm
- Identify sources of growth financing
- Develop and evaluate succession and exit strategies
Assessment of the student's success in the course is based on examinations during the semester, project presentations, and other class engagement exercises.
Other Course Information
Review and Approval
DATE ACTION APPROVED BY
September 10, 2007 reviewed and approved by the Department of Management faculty
March 01, 2021