BUS 194 - Small Business Management

Credits: 5
LEC hours per week: 5
Introduction to small business management and entrepreneurship. Course will include role of small business in the economy, forms of business ownership, main causes for business failure and success. Students will review the steps for opening a business and complete elements of a business plan clearly evaluating and illuminating the opportunity for entrepreneurial enterprise. Student may not earn credit for both AGBS 211 (previously AGRI 211) and BUS 194.
Course Outcomes:

Explain the importance of finding competitive advantage for a business.
Describe and compare the major forms of business organization.
Identify methods for addressing business risk and crime prevention.
Discuss ethical standards and social responsibility for business.
Identify and define the parts and benefits of a business and marketing plan.
Describe the fundamental principles involved in managing cash flow.
Apply management tools used to measure business performance.
Discuss advantages, disadvantages and sources of business financing.
Summarize factors to consider when choosing a business location and layout.
Compare inventory management methods and vendor selection criteria.
Discuss fundamentals for staffing and leading a company.

Course Topics:

Description of Entrepreneurship
Forms of Business Ownership
Building a Competitive Advantage
Business ethics
Managing risk and crime prevention
Parts of a Marketing Plan
Factors to consider before using E-commerce
Selecting advertising media
Pricing strategies
Managing cash flow
Financial statements
Ratio analysis and Break-even
Element of a Business Plan
Sources of financing
Choosing the right location and layout
Inventory management
Personnel management