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Syllabus – MGT253 Owning and Operating a Small Business Fall 2003 – Section 5904 Instructor: Richard Randolph Telephone: (480) 659-2121 e-mail: rrandolph@mail.mc.maricopa.edu

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Syllabus – MGT253 Owning and Operating a Small Business Fall 2003 – Section 5904 Instructor: Richard Randolph

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Syllabus – MGT253

Owning and Operating a Small Business

Fall 2003 – Section 5904

Instructor: Richard Randolph

Telephone:(480) 659-2121

e-mail:rrandolph@mail.mc.maricopa.edu

Textbook:Start, Run & Grow A Successful Small Business, Susan M. Jacksack

Course Description: Starting, organizing, and operating a small business, including location, finance, management processes, advertisement and promotion, credit, inventory control and ethics. Prerequisites: None.


Course Design:It is important for you as small business owners (or potential owners) to develop a sense for the entire business operation.

Together, we will attempt to accomplish this through

a series of practical homework assignments that will help clarify good business practices and the development of the initial stage of a comprehensive business plan and the accompanying documents that will support an effective business enterprise. These activities will attempt to provide an effective background for the establishment of your business venture.


Projects:The research and documentation efforts will include the following projects:

Product or Service Business Description

Target Market Analysis

Competitive Analysis

Marketing Approach / Pricing

Location Analysis

Breakeven Analysis

Target Market Revenue Projection

Operational Controls

Management Audit

Cash Flow Projection

Income Statement

Balance Sheet

Financial Plan  


Course Competencies:…and building blocks to success

  • Conduct a self-analysis to determine if one has the personal qualities essential for owning and operating a small business.


Course Competencies:…and building blocks to success

  • Explain the advantages and disadvantagesof various forms of business ownership.


Course Competencies:…and building blocks to success

  • Use problem-solving methods to determine the course of action to follow in starting and operating a small business.


Course Competencies:…and building blocks to success

  • Identify and explain laws and regulationsthat affect the small business owner.


Course Competencies:…and building blocks to success

  • Describe the characteristics of various types of business locations.


Course Competencies:…and building blocks to success

  • Compare management styles and practicesto determine effectiveness.


Course Competencies:…and building blocks to success

  • Explain the various considerations that must go into establishing a price for a product or service.


Course Competencies:…and building blocks to success

  • Compare and contrast methods to promotea business, product, or service.


Course Competencies:…and building blocks to success

  • Describe various types of inventory control methods.


Course Competencies:…and building blocks to success

  • Describe different types of costs, and calculate break-even.


Course Competencies:…and building blocks to success

  • Describe the challenge of ethics in small business, and define codes of conduct for businesses.


Course Competencies:…and building blocks to success

  • Read and interpret financial statements.


Course Competencies:…and building blocks to success

  • Identify the different sources of debt capital, and explain the advantages and disadvantagesof each.


Course Competencies:…and building blocks to success

  • Compare financial ratios between similar businesses.


Course Competencies:…and building blocks to success

  • Create a business plan.


Note: Late assignments (quizzes or projects) will earn

5 points less for each full or partial week late.

In addition to the above activities, (just to help you focus your reading) there will be a short quiz to guide your reading for each lesson. There will be no final exam. Instead, you will submit a draft of a comprehensive business plan. Please notice that the above assignments will contribute heavily to and be a primary resource for the construction of this major effort.

“Your task is to determine what you are going to do with the time allotted to you.”

-- Gandalf the Grey

from The Lord of the Rings


Grading:

The points allotted to each item are:

Weekly quizzes (13)……..10 points each (130 points total)

Projects (13)……..………..20 points each (260 points total)

[14 projects, but drop one that doesn’t apply]

Business Plan……………100 points

Your grade will be based on the successful completion of all course requirements. Your total accumulated points for assignments, quizzes and business plan will make up your course grade, which will be assigned according to the following scale:

A90-100% ………….490 to 441

B80-89% .………….440 to 392

C70-79% .………….391 to 343

D60-69% ……….….342 to 294

Fless than 60% ……293 or below


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