10145102Small Business Development
Course Information
Description
Provides an introduction to prospective small business owners to the principles involved in planning and operation. Attention is given to small business appraisal and opportunities. Emphasis will be placed on factors that contribute to a successful business operation.
Total Credits
3
Course Competencies
  1. Examine the characteristics of small business
    Assessment Strategies
    by preparing a written response to a case study
    on a written evaluation
    Criteria
    case study response includes an identification of the problem(s)
    case study response includes potential solutions of the problem(s)
    case study response includes an explanation of why the decision was selected
    case study response is well organized
    case study response evidences correct grammar, punctuation, and spelling
    you examine the history of small business
    you differentiate entrepreneur, small business manager, and small business owner

  2. Characterize the main forms of ownership (sole proprietorship, partnership, corporations)
    Assessment Strategies
    by submitting the results of an interview with a small business manager
    on a written evaluation
    Criteria
    interview report includes the identification of the type of business similar to the type of business you want to open
    interview report includes the identification of the legal entity of the business
    interview report includes the history of the business
    interview report includes the identification of an advisory board or board of directors in relationship to the legal entity of the business
    interview report includes the challenges of the business (beginning and current)
    interview report includes a list of recommendations for developing the business in today's market
    interview report includes advice for a new business owner
    you identify the advantages and disadvantages of sole proprietorship business ownership
    you identify the advantages and disadvantages of partnership business ownership
    you identify the advantages and disadvantages of corporation(s) business ownership

  3. Summarize the steps in preparing for small business ownership
    Assessment Strategies
    on a written evaluation
    Criteria
    you determine if you are a self motivator
    you determine if you have the desire to succeed to make money
    you determine if you have the desire to succeed to serve your target market
    you examine your personal financial situation
    you determine if there is a market for what you desire to do

  4. Explore the relationship between social responsibility, ethics, and strategic planning
    Assessment Strategies
    by preparing a written response to a case study
    on a written evaluation
    Criteria
    case study response includes an identification of the problem(s)
    case study response includes potential solutions of the problem(s)
    case study response includes an explanation of why the decision was selected
    case study response is well organized
    case study response evidences correct grammar, punctuation, and spelling
    you determine what is meant by business ethics
    you determine when you practice social responsibility
    you explore the market forecast to determine the potential success for your business

  5. Compare the advantages and disadvantages of developing, buying or franchising a business
    Assessment Strategies
    on a written evaluation
    Criteria
    you explore the different kinds of franchising business ownership
    you identify the advantages and disadvantages of franchising business ownership
    you examine the franchising contracts to determine the kinds of ownership protection
    you examine the franchising contracts to determine how to dissolve the contract

  6. Differentiate between a family business and other types of businesses
    Assessment Strategies
    by preparing a written response to a case study
    on a written evaluation
    Criteria
    case study response includes an identification of the problem(s)
    case study response includes potential solutions of the problem(s)
    case study response includes an explanation of why the decision was selected
    case study response is well organized
    case study response evidences correct grammar, punctuation, and spelling
    you determine the pros and cons of family business ownership
    you identify the legal steps necessary to protect your share of the business
    you determine the rights for hiring and firing of family staff
    you determine whether or not family heirs want a share of the business

  7. Explore the central issues of choosing a particular site
    Assessment Strategies
    on a written evaluation
    by submitting a location research paper
    by submitting a written layout of your business
    Criteria
    you differentiate between regional shopping mall, strip mall, string street, central business district, and stand alone
    you compare and contrast the advantages and disadvantages of building or renting
    you examine contracts in relationship to location (hours, number of employees, parking, delivery, accessibility, etc)
    research paper includes the identification of the location studied (state, city, locality within the city)
    research paper includes the identification of taxes
    research paper includes the composition of the neighborhood
    research paper includes the history of the site (previous owners, utilities cost, improvement of the site
    research paper includes the size of the site
    research paper includes the cost of the site
    research paper evidences correct grammar, punctuation, and spelling
    layout includes a description of traffic flow
    layout includes a description of fixtures
    layout includes a description of office space
    layout includes a description of the merchandising/planning areas

  8. Illustrate what marketing research can do for your business
    Assessment Strategies
    by submitting a completed homework assignment
    Criteria
    assignment includes the URLs for a minimum of five websites of patents for questionable marketable products
    assignment includes the URLs for a minimum of three websites for financial assistance resources
    assignment includes the identification of the demographics for their target market

  9. Explain the need for market segmentation and its process
    Assessment Strategies
    by submitting a Target Market Evaluation report for your selected business
    on a written evaluation
    Criteria
    report includes the demographics of the primary market
    report includes the demographics of the secondary market
    report includes the demographics of the fringe market
    report includes the identification of competitors (primary, secondary, and tertiary)
    report includes whether or not the target market meets the qualifications for potential customers
    you determine the qualifications of a customer
    you determine if there is a potential profitable market for your business
    you differentiate between primary, secondary, and tertiary markets
    you differentiate between primary, secondary, and tertiary competitors
    you determine if the market will allow for segmentation

  10. Establish the main considerations in setting a price for a product
    Assessment Strategies
    on a written evaluation
    by preparing a written response to a case study
    Criteria
    you explain the break-even analysis and why it is important in pricing in a small business
    you identify the criteria needed to determine a profitable price for the product
    you determine the price at which the product will meet the needs of the customer
    you identify how the product life style stages affect the price of the product
    case study response includes an identification of the problem(s)
    case study response includes potential solutions of the problem(s)
    case study response includes an explanation of why the decision was selected
    case study response is well organized
    case study response evidences correct grammar, punctuation, and spelling

  11. Explore the functions and activities of managing a small business
    Assessment Strategies
    by preparing a written response to a case study
    on a written evaluation
    Criteria
    case study response includes an identification of the problem(s)
    case study response includes potential solutions of the problem(s)
    case study response includes an explanation of why the decision was selected
    case study response is well organized
    case study response evidences correct grammar, punctuation, and spelling
    you identify the critical marketing factors necessary for business success
    you determine the conditions necessary to hire staff or seek outside consultants
    you determine the importance of maintaining written documentation for business policies and procedures
    you determine the importance of training procedures for employees for the operation of the business
    you determine the importance of quality control procedures for the operation of the business

  12. Identify the financial records necessary for a small business
    Assessment Strategies
    by submitting a sample business plan
    on a written evaluation
    Criteria
    sample business plan includes the identification of the type of business similar to the type of business you intend to open
    sample business plan includes the mission statement
    sample business plan includes the management organization
    sample business plan includes the financial statements (cash flow statements, balance sheets, income statements)
    sample business plan is complete
    business plan includes
    you identify the various types of financial statements
    you determine the type of information stated on each financial report
    you determine the types of financial information required by the IRS
    you determine the types of financial information that needs to be stored and for how long according to the IRS

  13. Examine the laws and regulations that affect a small business
    Assessment Strategies
    by submitting an information list of minimum of three small business lawyers
    Criteria
    you determine where to register the business
    you determine where and how to get a tax id number for the business
    you determine the laws that affect their employees through the Department of Labor and Human Resources
    you determine the types of licenses needed to operate your business (local, county, state, and federal)
    you identify any zoning regulations that may affect your business
    list includes the names of the small business lawyers
    list includes contact information of the small business lawyers
    list includes email information of the small business lawyers
    list includes questions to be asked of the small business lawyers

  14. Create a business plan
    Assessment Strategies
    by submitting the business plan for your future business
    Criteria
    business plan includes the executive summary
    business plan includes a mission statement
    business plan includes legal and management structure
    business plan includes a description of the potential market
    business plan includes a description of the product and/or service plan
    business plan includes promotion plans
    business plan includes short and long range strategic plans
    business plan includes plans for business growth
    business plan includes the financial statements
    business plan includes means for dissolution of the business