
COURSE OVERVIEW
This semester-long course is designed to provide the skills needed to effectively organize, develop, create, and manage your own business, while exposing you to the challenges, problems, and issues faced by entrepreneurs. Throughout this course, you will be given the chance to see what kinds of opportunities exist for small business entrepreneurs and become aware of the necessary skills for running a business. You will become familiar with the traits and characteristics that are found in successful entrepreneurs, and you will see how research, planning, operations, and regulations can affect small businesses. You will learn how to develop plans for having effective business management and marketing strategies.
Small Business Entrepreneurship will teach you basic principles of entrepreneurship and business ethics. You’ll look at the major steps relevant to starting a new business. These steps include financing, marketing, and managing. Knowing how to analyze a business plan will help you develop one, while at the same time making it easier for you to understand the reasons businesses have to write one. Small Business Entrepreneurship is designed to give you an overview on running a business from start to finish.
Objectives
- Understand the basic aspects of entrepreneurship.
- Recognize the legal environment of a small business.
- Describe basic economic principles.
- Understand scarcity and forecasting.
- Identify different kinds of costs.
- Explain the principles of financing.
- Identify kinds of financial records.
- Know the sources of financing.
- Explain target markets.
- Analyze market research and competition.
- Describe marketing mix.
- Recognize the roles of management.
- Construct a business plan.
Small Business Entrepreneurship Course Requirements
Students must be computer literate and have Internet access. Students should have basic research skills, as well as the ability to conduct online searches and access recommended websites. Word processing and presentation software may be required to produce projects.
Small Business Entrepreneurship Course Outline
Unit 1: Overview of Small Business Entrepreneurship
Chapter 1: Basic Aspects of Entrepreneurship
- What is Entrepreneurship?
- Entrepreneurial Traits
- Education, Aptitudes, and Skills
- Goals
- Personal Interests
- Project: Characteristics of Successful Entrepreneurs
Chapter 2: Legal Environment of a Small Business
- Ethics
- Legal Forms of Business Ownership
- Business Risks
- Sources of Assistance
- Roles of Government
- Project: Ethics
- Project: Business Risks
- Project: Business Ventures—Part 1
Unit 2: Economics
Chapter 1: Basic Economic Principles
- What is the Role and Importance of Small Business Entrepreneurship in the Economy?
- Supply and Demand
- Pricing and Production
- Equilibrium
- Project: How Entrepreneurs Improve the Economy
- Project: Supply and Demand Graph
- Project: Equilibrium Graph
Chapter 2: Scarcity and Forecasting
- Scarcity
- Economic Measurement
- Project: Economic Forecast
Chapter 3: Costs
- Fixed and Variable Costs
- Opportunity Costs
- Motive
- Project: Opportunity Costs
- Project: Business Ventures—Part 2
Unit 3: Financing
Chapter 1: Principles of Financing
- Start-Up Costs
- Costs of Goods Sold
- Operating Expenses
- Gross Income, Net Incomes, and Break-Even Point
Chapter 2: Financial Records
- Income Statement
- Balance Sheet
- Profitability and Projecting Cash Flow
- Project: Income Statement
- Project: Balance Sheet
- Project: Financial Records
Chapter 3: Sources of Financing
- Sources of Financing
- Assess Collateral
- Interest Rate and Monthly Payments
- Project: Financing Sources
- Project: Business Ventures—Part 3
Unit 4: Marketing
Chapter 1: Target Markets
- Analyze a Market’s Customers
- Target Market
- Project: Target Market
Chapter 2: Market Research and Competition
- Steps of Market Research
- Uses of Market Research
- Industry Characteristics
- Project: Current Event—Market Research
- Project: Assessing Competitors’ Strengths and Weaknesses
Chapter 3: Marketing Mix
- Marketing Terminology
- Marketing Functions
- 4P’s and 7P’s
- Marketing Plan
- Project: Marketing Mix
- Project: Promotion
- Project: Business Ventures—Part 4
Unit 5: Management and Business Plans
Chapter 1: Management
- Functions of Management
- Organization Styles
- Regulations to Protect Employees
- Project: Leadership Styles
- Project: Organizational Chart
Chapter 2: Business Plan
- Business Plan
- Project: Business Plan
- Project: Business Plan Sources
- Project: Analyze a Business Plan—Part 1
- Project: Analyze a Business Plan—Part 2
- Project: Analyze a Business Plan—Part 3
- Project: Analyze a Business Plan—Part 4
- Project: Business Ventures—Part 5