There are no prerequisites for this course.
There are no corequisites for this course.
||This course prepares students to start their own business and is
designed to assist entrepreneurs to strengthen and manage their
business skills. Fundamentals of starting and operating a business,
developing a business plan, obtaining financing, marketing a product
or service, developing an effective accounting system will be
- Katz. Entrepreneurial Small Business, 4 ed., McGraw-Hill, 2014. ISBN: 9780077513009
|Program Learning Outcomes:
Understand the scope of small business in the United States.
Know the difference between small businesses and high-growth
Discover the rewards entrepreneurs can achieve through their
Be able to dispel key myths about small businesses.
Understand how small businesses are important to our economy.
Define “ethics” & “ethical dilemmas” & the relationship between
Discover why ethics are a big part of small business.
Learn ethics planning, a three-step process to help make ethical
Learn the basic skills for handling a crisis.
Learn the competencies of the successful entrepreneur.
Understand the challenges of family business owners.
Gain insight into the challenges women and minority business owners
Recognize the special nature of entrepreneurial teams.
Understand how creativity methods can help business owners recognize
Understand value of building a creative culture in business.
Know when and why part-time entrepreneurship makes sense.
Learn the four major paths to part-time entrepreneurship.
Learn how to optimize delegation within the firm.
Learn the benefits of bootstrapping.
Describe five ways people get into small business management.
Learn the rewards and pitfalls of starting a new business.
Understand the opportunities and pitfalls of purchasing an existing
Learn about the approach and reasons for buying a franchise.
Understand the problems of management succession in a family–owned
Learn how to sustain competitive advantage through attracting
customers and discouraging competition.
Understand why and when to develop a business plan.
Learn the major sections of the classic business plan.
Know characteristics of goods and services.
Learn the stages of new product development.
Understand pricing and pricing strategies.
Recognize the different types of direct marketing and their pros and
Identify factors to consider in selecting a business location.
Understand importance of marketing plan.
Recognize major methods of market research.
Understand importance of managing business’s money.
Understand basics of managing cash flow.
Learn strategies for coping with cash shortages.
Know how to choose right type of financing for business.
Understand the meaning and nature of business risk.
Learn how insurance can be used to manage business risk.
Learn how to manage short-term assets and fixed assets.
Know when legal information is needed and how to get it.
Know contract terms and when a contract is needed.
Understand basics of intellectual property.
|Course Learning Outcomes:
Identify actions key to becoming a small business owner.
Identify the types of career paths entrepreneurs pursue.
Identify the sources of opportunity entrepreneurs draw on for
Track the traditional ways opportunities are screened for business
Identify strategies for innovation in business.
Identify the five pitfalls that hinder innovation.
Conduct a comprehensive feasibility study for your business ideas.
Understand what it takes to be successful in part-time
Explain four methods for purchasing an existing business.
Describe how hired managers become owners of small businesses.
Use SWOT analysis to identify strategic options.
Develop a business plan.
Tell a successful business plan story.
Master presenting business plan to others.
Differentiate public relations from advertising and know how to
write a press release.
Learn skills in personal selling and how to close the sale.
Master using the internet as a distribution channel.
Understand the pros and cons of buying, building, or leasing.
Identify critical components of a marketing plan.
Understand requirements for a small business accounting system.
Craft budgets for business.
Be able to reconcile bank and company book balances.
Be prepared to develop a cash budget.
Recognize advantages to renting or leasing capital equipment.
Master process of negotiating.
Understand how to recruit good employees on a budget.
Be able to recognize stages of small business life cycle.
|Methods of Evaluation:
||Evaluation of student progress towards achieving the stated learning
outcomes and performance objectives is the responsibility of the
instructor, within the policies of the college and the department.
Detailed explanations are included in the expanded Syllabus
developed by the instructor for each section being taught.
|| It is the intention of the instructor to accomplish the objectives specified in the course syllabus. However, circumstances may arise which prohibit the fulfilling of this endeavor. Therefore, this syllabus is subject to change. When possible, students will be notified of any change in advance of its occurrence.
|Student Email Accounts
||Pensacola State College provides an institutional email account to all credit students. Pirate Mail is the official method of communication, and students must use Pirate Mail when communicating with the College. In cases where companion software is used for a particular class, emails may be exchanged between instructor and student using the companion software.
|| For students with a disability that falls under the Americans with Disability Act or Section 504 of the Rehabilitation Act, it is the responsibility of the student to notify Student Resource Center for ADA Services to discuss any special needs or equipment necessary to accomplish the requirements for this course. Upon completion of registration with the Student Resource Center for ADA Services office, specific arrangements can be discussed with the instructor.