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Entrepreneurship 450

ENTR 450: Owning and Managing a Business

Prerequisite: None

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

•Tax planning

•Managing human resources

•Identifying and managing risks

•Managing growth

•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 Measures

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