Standard

MKT 123 - Small Business Management

Course Description

Summarizes competencies included in the entrepreneurship specialization and provides opportunities for application and demonstration of skills. Topics include: management principles, marketing functions, financial applications, and entrepreneurial growth potential.

Competency Areas	Hours
Management Principles	Class	5
Marketing Functions	D. Lab	0
Financial Applications	P. Lab/O.B.I.	0
Entrepreneurial Growth Potential	Credit	5

Prerequisite:	ACC 101, ENG 111, MAT 111
Corequisite:

Course Guide

Competency	After completing this section, the student will:	Hours
		Class	D.Lab	P.Lab/ O.B.I.
MANAGEMENT PRINCIPLES		20	0	0
Business process	Identify the principles of management.
	State the importance of planning.
	State the importance of organizing.
	State the importance of directing.
	State the importance of controlling.
	Demonstrate planning techniques.
	Demonstrate organizing techniques.
	Demonstrate directing techniques.
	Demonstrate controlling techniques.
MARKETING FUNCTIONS		10	0	0
Description of marketing functions	Define terms related to marketing functions.
	State the function of marketing.
	Describe each function of marketing.
Managing marketing functions	Summarize the managerial requirements for each marketing function.
	Apply each of the marketing functions.
FINANCIAL APPLICATIONS		10	0	0
Business record keeping and reports	Identify the types of financial records necessary for effective business management.
Budgeting	Determine the basic factors of budget control. Identify the steps to follow to prepare and revise budgets.
Expense control	Determine the types of expenses incurred by businesses.
	Develop a plan to control business expenses.
	Develop a plan to reduce business expenses.
Forecasting business trend indicators	Examine various business indicators that aid in forecasting business trends.
ENTREPRENEURIAL GROWTH POTENTIAL		10	0	0
Personal characteristics	Identify the personal characteristics that contribute to the success of a business.
	Assess personal entrepreneurial skills.
Investment funds	Identify sources of venture capital.
Business expansion	Identify factors that should be investigated before purchasing or expanding an existing business.
Franchises	Define franchising.
	Identify major franchising categories.
	Explain the use of franchises in expanding growth potential.
Potential growth	Discuss areas of potential growth.

Suggested Resources

Books

Albanese, R. (1988). Management. Cincinnati: South-Western.

Aldag, R. J., & Stearns, T. M. (1987). Management. Cincinnati: South-Western.

DuBrin, A. J., & Ireland, R. D. (1989). Management and organization (6th ed.). Cincinnati: South-Western.

Hailes, W. D., & Hubbard, R. T. (1988). Small business management. Albany, NY: Delmar.

Kuriloff, A. H., & Hemphill, J. M. (1988). Small business management (2nd ed.). New York: McGraw-Hill.

Longenecker, J. G., & Moore, C. W. (1987). Small business management (7th ed.). Cincinnati: South-Western.

Longenecker, J. G., & Moore, C. W. (1991). Small business management (8th ed.). Cincinnati: South-Western.

Morgenstein, M., & Strongin, H. (1987). Modern retailing: Management principles and practices (2nd ed.). Englewood Cliffs, NJ: Prentice Hall.

The National Center for Research in Vocational Education. (Year). Program for acquiring competence in entrepreneurship. Columbus, OH: Author.

Scarborough, N. M., & Zimmerer, T. W. (1991). Effective small business management. Columbus, OH: Merrill.

Journals

Wall Street Journal