Apr 16, 2024  
2023-2024 College Catalog 
    
2023-2024 College Catalog [ARCHIVED CATALOG]

MGT 200 - Small Business Management/Entrepreneurship

3 Credits, 3 Contact Hours
3 lecture periods 0 lab periods

Analysis of the practical problems of organizing, managing and starting a small business. Includes feasibility analysis, forms of ownership, managing the business, business plan, pricing, managing cash flow, creating sales forecast, income statements, breakeven analysis, source of funds, international operations, building an entrepreneurial team, risk management, and international opportunities.

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Course Learning Outcomes
  1. Identify a business opportunity and evaluate its viability.
  2. Develop a solution in the form of a value proposition; that is, to demonstrate an understanding of customers and the problem they need to solve.
  3. Construct a business model including customer segment, marketing channels, customer relationships, resources, and business activities including a technology-responsive infrastructure.
  4. Explain the costs of starting a new business and its impact on the business model, its revenue streams, and pricing strategy in the global market.
  5. Design a business plan for a startup and pitch presentation to test the idea.

Outline:
  1. Defining a Business Opportunity
    1. Identifying and isolating a specific problem
    2. Understanding the affected stakeholders (customer profile)
  2. Evaluating the Viability of the Opportunity
    1. Crafting a value proposition
    2. Developing customer relationships
  3. Crafting a Solid Business Model
    1. Elements of a Business Model
    2. How the elements work together
    3. Assumptions that can derail a business
  4. Costs of Starting a Business
    1. Cost sides of the equation
    2. Pricing strategies and their impact on the Business Model
    3. Understanding profitability
  5. Setting a Good Foundation
    1. Building an entrepreneurial team
    2. Thinking about funding sources
  6. Strategies for Communicating Your Business Idea
    1. The Business Plan
    2. Pitching your business idea (“Pitch Deck”)


Effective Term:
Spring 2020