BUS 110, Entrepreneurial Studies I

COURSE DESCRIPTION:

First of two small business courses designed for those interested in learning how to start and manage a small business. It begins by defining and explaining the nature of small business in today's economy and entrepreneurs in the context of the free enterprise system. The topics include small business opportunities, legal forms of ownership, franchising, starting a new venture, sources of financing, developing marketing strategies and human resource management. Students will also learn the key components of a business plan, review case studies, and undertake a major project.

COURSE OBJECTIVES:

• Define what is meant by the term small business & discuss current problems & trends.
• Define the requirements for success in owning and managing a small business & analyze qualifications for becoming a small business owner.
• Analyze the legal forms of ownership a small business can have.
• Explain how to go into business for yourself
• Describe how to search for & identify a product needed by the public.
• Explain the role of strategic, operational and financial planning
• Understand the importance of a business plan and what information should be included in the plan
• Estimate financial need & explain some principles to follow in obtaining financing.
• Develop and explain how to develop and implement a marketing strategy.
• Explain how to plan human resource needs.