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.

Course Learning Outcomes

Identify a business opportunity and evaluate its viability.
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.
Construct a business model including customer segment, marketing channels, customer relationships, resources, and business activities including a technology-responsive infrastructure.
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.
Design a business plan for a startup and pitch presentation to test the idea.

Outline:

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

Effective Term:
Spring 2020