SBM 2000 Small Business Management

SBM 2000 Small Business Management Course Syllabus

First, Last Name: Jessica M Weston Campus Phone: 813-621-0041 ext. 215

Course Section: Thursday 1PM-5PM Other Telephone: 813-476-0003 [email protected] Office Hours: By Appointment Email Address: [email protected] Credit Hours: 4 Credit Hours Lecture Hours: 40 Clock Hours Prerequisites/ None Lab/Clinic Hours: None Corequisites: Last Update: 10/13 Course Description This course examines the various aspects of starting, acquiring, and operating a small business enterprise. It is a comprehensive discussion of problems encountered by small businesses. A study of management principles and procedures provides methods of resolving these problems.

Course Outcomes 1. Employ the concepts of entrepreneurship and identify small business opportunities and challenges. 2. Distinguish between the alternative options for small business ownership. 3. Outline the framework for small business ownership. 4. Apply principles of financial management to small businesses. 5. Apply marketing principles to the small business environment. 6. Apply principles of customer relationship management and customer behavior to small businesses. 7. Analyze the management of day-to-day operations for a small business.

Textbook (Required) Longenecker, J. G., Petty, J. W., Palich, L. E., and Hoy, F. (2012). Small business management: Launching and growing entrepreneurial ventures (16th ed.). Mason, OH: South-Western Cengage Learning.

Online Resources Everest Learning Resources: http://learningresources.everest.edu/

© 2012 Corinthian Colleges, Inc. Business v2.0 SBM 2000 Small Business Management. Rev. 01-01-2012. 1  Find general resources, including online almanacs, article databases, encyclopedias, dictionaries, and tutorials.  Find resources by program for your specific program of study, including allied health, business, information technology, justice, nursing and trades.

Library and Information Resources Network: http://www.lirn.net/services.shtml The LIRN center requires a password. To obtain a password contact your instructor.

APA Style Papers that you write in your program of study must follow the guidelines set by the American Psychological Association (APA). http://apastyle.apa.org

Purdue Online Writing Lab Visit the Online Writing Lab (called OWL) whenever you have an APA question. OWL can be accessed at: http://owl.english.purdue.edu/owl/resource/560/01/

Student Commitment

Grades and understanding of course content are dependent upon consistent study and attendance. Students are expected to designate a minimum of two hours of out-of-class study and assignments for every one hour of in-class instruction for this course.

Course Policies

1. Attendance Your attendance in class is vital to your success. Each week of coursework includes time spent in class and completion of all out-of-class assignments.

Each week of coursework includes time spent in-class and completion of all out-of-class assignments. To receive a mark of “present” on the roster, you must be in-class for 51% of the class session. Keep in mind that being marked “present” on the roster does meet the minimum attendance standards for the day; however, to earn professionalism points, you must meet the below standards under the Professionalism category.

2. Professionalism Points Students are expected to participate in all class activities and assignments while in-class. Students, who choose not to participate, fail to collaborate on activities, arrive late to class, or leave class early will have points deducted from their overall grade through the professionalism category.

Professionalism points may be deducted for other conduct detrimental to the learning environment as determined by the instructor; however below is the standard for your punctuality and being in- class:

© 2012 Corinthian Colleges, Inc. Business v2.0 SBM 2000 Small Business Management. Rev. 01-01-2012. 2  1 to 15 minutes late = reduction of 10% of the daily professionalism points  16 to 45 minutes late = reduction of 25% of the daily professionalism points  > 45 minutes = reduction of 50% of the daily professionalism points  If the entire session is missed 100% of the daily professionalism points is lost  1 to 15 minutes leaving early = reduction of 10% of the daily professionalism points  16 to 45 minutes late = reduction of 25% of the daily professionalism points  > 45 minutes late = reduction of 50% of the daily professionalism points

3. Makeup Policy

Late work submissions may be accepted; however, all late assignments, quizzes or group work must be submitted according to the guidelines below.

Individual Work:

 Assignment submitted within a week of original deadline = -10%  Assignment submitted within two weeks of original deadline = -20%  Assignment submitted later than two week of original deadline = No Credit

The final deadline for late Individual Work submissions at the end of the term is 10:30 PM Eastern Time by the last day of class. Late Individual Work must be submitted by this deadline in order to be accepted, graded, and factored into the student’s final letter grade for the course.

Class Discussions, Group work, and Teamwork Assignments:

 Any assignments that deal with a group dynamic such as class discussions, teamwork or group assignments are not accepted. They must be completed in class the day they are assigned and due.

Final Note on Makeup work:

 It is up to the instructor’s discretion to provide students with additional time to submit late work (exceeding the two week timeframe) on a case by case basis and under documented extenuating circumstances.

4. Academic Dishonesty/Plagiarism In the learning environment, professional attitude begins in the classroom. For that reason, students and faculty will not tolerate or commit any form of academic dishonesty.

Any form of deception in the completion of assigned work is considered a form of academic dishonesty. This includes, but is not limited to:

© 2012 Corinthian Colleges, Inc. Business v2.0 SBM 2000 Small Business Management. Rev. 01-01-2012. 3  Copying work from any source.  Assisting, or allowing another to assist you, in academic dishonesty.  Any attempt to share answers during a test or in submitting an assignment.  Any attempt to claim work, data, or creative efforts of another as your own.  Resubmitting graded assignments for use in multiple classes (recycling your work).  Knowingly providing false information about your academic performance to the college.  Copying and pasting others’ work into assignments without using quotation marks and citing the source in APA format.

Plagiarism  Papers that you write in your program of study must follow the guidelines set by the American Psychological Association (APA). Using another’s intellectual creation without permission or without giving appropriate credit is the academic equivalent of theft.

Consequences of Academic Dishonesty/Plagiarism All violations of academic policy are documented and made a part of the student's academic record. When academic dishonesty is confirmed, the student will immediately be notified of the incident, which may result in one or more of the actions listed below:  Reduction in assignment grade on which the violation occurred  No credit on the assignment, paper, test, or exam on which the violation occurred  A failing grade for the course  Suspension or dismissal from the college

Please see the current course catalog for full details.

5. Referencing Nonacademic Resources In many of your classes, you will conduct research. Please note: the use of research documents must remain at an academic or scholarly level. Web sites such as Wikipedia and Ask.com are not credible sources because they are not necessarily written by academic experts; they may be written by nonacademic individuals, and are potentially inaccurate or biased.

6. Add/Drop Please refer to the current school catalog policies for schedule changes, add/drop processes, and deadlines.

Course Evaluation and Grading

© 2012 Corinthian Colleges, Inc. Business v2.0 SBM 2000 Small Business Management. Rev. 01-01-2012. 4 Total Grading Scale Grade Categories Weight Points Letter Point Scale Interpretation Professionalism 10% 100 Grade Individual Work 33% 330 A 90-100 Superior Class Discussions 23% 230 Above average; B 80-89 Quizzes/Exams 24% 240 good Average; Teamwork 10% 100 C 70-79 standard Total: 100% 1000 D 60-69 Below standard F 59 or lower Failure

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Course Instructional Learning Activities Graded Activities Outcome Objectives

Employ the Explain the Owning your own business can bring Class Discussion (20 points) concepts of advantages and you many advantages and In your reading this week, you entrepreneurshi disadvantages disadvantages, as well as personal examined some of the motivations p and identify of owning a satisfactions and potential and rewards associated with owning small business small business disappointments. This week, you’ll your own business. Now, discuss opportunities gain a general understanding of these these ideas with your classmates. and challenges possibilities. Respond to the following questions in 1. Reading: To learn more about the the class discussion this week: concepts presented in the Week 1 lecture, read Small Business  Identify and briefly describe three Management: rewards of entrepreneurship.  Chapter 1, “The Entrepreneurial  Identify and briefly describe three Life,” pages 2-34. difficulties or challenges of entrepreneurship. 2. Lesson Presentation: Complete  What is the one major reason you the following: would consider becoming an  Discuss the presentation titled entrepreneur, and why? “Chapter 1: The Entrepreneurial Life.” Working individually, prepare power point presentation of today’s class discussion and submit it for grading. You may add new thoughts or your perspective on the discussion if desired. Assure that your work is neat and legible.

Part 2 of 2

Employ the Develop a Now that you have a better sense of Individual Work (40 points) concepts of sense of the entrepreneurship and small business For your individual written work this entrepreneurshi importance of ownership, consider the importance week, consider what you have p and identify integrity and of a sense of business ethics and learned about integrity and ethics in small business ethics in small personal integrity. Acting ethically in the small business setting. opportunities business business can be a challenge at times, and challenges ownership but integrity is crucial to the success Think about an unethical business of a small business. practice that you (or someone you know) have encountered at a small 1. Reading: In Small Business business. Discuss the following: © 2012 Corinthian Colleges, Inc. Business v2.0 SBM 2000 Small Business Management. Rev. 01-01-2012. 6 Management, read:  Chapter 2, “Integrity and Ethics: 1. Describe the situation – what Foundations for Success in Small happened, and why you think the Business,” pages 36-65. practice was unethical. 2. Describe your reaction – what did 2. Lesson Presentation: Complete you do as a result of the unethical the following: practice (such as quit shopping at  Discuss the presentation titled that business, told others, filed a “Chapter 2: Integrity and Ethics: formal complaint, etc.)? Foundations for Success in Small 3. Explain what you think the small Business.” business owner should have done differently. 3. Preparation for Week 2: In Small Business Management: Length Requirement: Your response  Read Chapter 3, “Starting a Small to each question should be a Business,” pages 68-103. minimum of one paragraph. List any  Read Chapter 4, “Franchises and sources in APA format. Buyouts,” pages104-133. Save your document with a file name that includes your name_course code- section number_title.

 For example: JaneSmith_SBM2000-12_Work #1.doc)

Submit your individual work at the beginning of Week 2.

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Distinguish Explain the There are many different ways to Class Discussion (20 points) between the advantages and become a small business owner other Consider what you have learned alternative disadvantages than starting a business from the about the advantages and options for of starting a ground up including buying a disadvantages of buyouts and small business business from franchise or an existing business. startups. Respond to the following ownership scratch, Each of these methods has questions in the class discussion this franchises, and advantages and disadvantages to week: existing consider. businesses  What are the advantages of 1. Reading: In Small Business starting a business from scratch, Management, read: and what are some of the  Chapter 3, “Starting a Small challenges? Business,” pages 68-103.  What are the pros and cons of  Chapter 4, “Franchises and buying an existing business? Buyouts,” pages 104-133. Working individually, prepare a 2. Lesson Presentation: Complete power point presentation of today’s the following: class discussion and submit it for  Discuss the presentation grading. You may add new thoughts “Chapter 3: Starting a Small or your perspective on the discussion Business.” if desired. Assure that your work is  Discuss the presentation neat and legible. “Chapter 4: Franchises and Buyouts.” Individual Work (40 points) Think about what you have read this 3. Web sites: Visit the following week and what you learned by Web sites: visiting the International Franchise  The International Franchise Association Web site. With this in Association mind, complete the following http://www.franchise.org/: learn assignment. more about owning a franchise and franchise opportunities.  Research a franchise of your choice. Provide some basic 4. Preparation for Week 3: In Small information about the franchise, Business Management: such as a description of the  Read Chapter 5, “The Family franchise, required investment, Business,” pages 134-161. training provided, or any other pertinent facts that you can find.  If you had the required capital, would you buy into this © 2012 Corinthian Colleges, Inc. Business v2.0 SBM 2000 Small Business Management. Rev. 01-01-2012. 8 franchise? Why or why not?

Length Requirement: Your response should be a minimum of two paragraphs. List any sources in APA format. Save your document with a file name that includes your name_course code-section number_title.

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Distinguish Explain the Family businesses are a unique Class Discussion (20 points) between the advantages and situation in the business world and Success strategies, management, and alternative disadvantages have their own complex dynamic, roles and responsibilities are all a bit options for small of family particularly with regard to different when running a family business businesses management issues. business. Reflect on what you have ownership learned in your reading this week, 1. Reading: In Small Business and discuss these issues with your Management, read: classmates. Respond to the following  Chapter 5, “The Family questions in the class discussion this Business,” pages 134-161. week:

2. Lesson Presentation: Complete  What are the pros and cons of the following: having family members involved  Discuss the presentation titled in your businesses? “Chapter 5: The Family  Provide a brief description of a Business.” successful family business in your area. Explain why you think this business is successful. (If you are not familiar with a family business in your area, conduct Internet research and analyze a family business that you find through your research.)

Working individually, prepare po wer point presentation of today’s class discussion and submit it for grading. You may add new thoug hts or your perspective on the dis cussion if desired. Assure that yo ur work is neat and legible.

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Distinguish Explain the 1. Review: In preparation for the Quiz (60 points) between the advantages and quiz, review: This quiz covers the following alternative disadvantages  Chapter 1, “The Entrepreneurial material: options for small of owning a Life,” pages 2-34. © 2012 Corinthian Colleges, Inc. Business v2.0 SBM 2000 Small Business Management. Rev. 01-01-2012. 10 business small business  Chapter 2, “Integrity and Ethics:  Chapter 1, “The Entrepreneurial ownership Foundations for Success in Small Life,” pages 2-34. Develop a Business,” pages 36-65.  Chapter 2, “Integrity and Ethics: Employ the sense of the  Chapter 3, “Starting a Small Foundations for Success in Small concepts of importance of Business,” pages 68-103. Business,” pages 36-65. entrepreneurshi integrity and  Chapter 4, “Franchises and  Chapter 3, “Starting a Small p and identify ethics in small Buyouts,” pages 104-133. Business,” pages 68-103. small business business  Chapter 5, “The Family  Chapter 4, “Franchises and opportunities ownership Business,” pages 134-161. Buyouts,” pages 104-133. and challenges  Chapter 5, “The Family Explain the 2. Preparation for Week 4: In Small Business,” pages 134-161. advantages and Business Management: disadvantages  Read Chapter 8, “The of starting a Organizational Plan: Teams, business from Legal Structures, Alliances, and scratch, Directors,” pages 229-259. franchises, and existing businesses

Explain the advantages and disadvantages of family businesses

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Distinguish Evaluate the There are different strategies to Class Discussion (20 points) between the three forms of consider for staffing and managing Consider what you have learned alternative small business each different form of small business. about the three forms of small options for ownership: In the first part of this week, you will business ownership. Discuss these small business sole evaluate some of these strategies. different points with your classmates. ownership proprietorships , partnerships, 1. Reading: In Small Business Respond to the following questions in and Management, read: the class discussion this week: corporations  Chapter 8, “The Organizational Plan: Teams, Legal Structures,  Describe the advantages and Alliances, and Directors,” pages disadvantages for each of the 229-259. three major legal forms of organization: sole 2. Lesson Presentation: Complete proprietorships, partnerships, the following: and corporations.  Discuss the presentation titled  If you were starting a small “Chapter 8: The Organizational business, which of these forms Plan: Teams, Legal Structures, would you choose, and why? Alliances, and Directors.” Working individually, prepare a power point presentation of today’s class discussion and submit it for grading. You may add new thoughts or your perspective on the discussion if desired. Assure that your work is neat and legible.

Part 2 of 2

Outline the Analyze the In the second part of this week, you Teamwork (50 points) framework for process of will examine the elements common to This week you learned about the small business developing a most business plans, and learn how basic components of a business plan. ownership business plan, they relate to one another in the Work with your teammates to outline including the process of development. this process. plan’s specific components 1. Reading: In Small Business Participate in the teamwork activity Management, read: by completing the following:  Chapter 6, “The Business Plan: © 2012 Corinthian Colleges, Inc. Business v2.0 SBM 2000 Small Business Management. Rev. 01-01-2012. 12 Visualizing the Dream,” pages  List and describe in detail the 164-197. major sections that should be included in a business plan. 2. Lesson Presentation: Complete Provide examples of the the following: information that might be found  Discuss the presentation in each of the sections. “Chapter 6: The Business Plan:  Identify at least three online Visualizing the Dream.” resources that can be used for preparing business plans and 3. Web sites: Visit the following provide a brief description of the Web sites: information that is available on  http://www.bplans.com/: each Web site. familiarize yourself with a range of different business plan types. Teamwork is designed to promote student interaction and collaboration 4. Preparation for Week 5: In Small with one another. Below are the Business Management: student expectations for teamwork.  Read Chapter 10, “Understanding a Firm’s Financial Statements,” 1. Team Leader: One team member pages 291-329. volunteers to be responsible for preparing the teamwork assignment and submitting it at the next class period. 2. All Teammates: The minimum expectation is that all teammates participate in the activity and contribute their assigned portion of the work. 3. All students earn individual grades for the required teamwork component in each course.

Submit your teamwork at the beginning of Week 5.

Part 1 of 2

Apply Describe key Financial statements for a business Class Discussion (20 points) principles of financial can give you information about its Now that you have finished this financial statements, performance and financial resources. week’s reading on financial management to including They can be used to help obtain statements, discuss what you have small balance sheets credit or loans to support or improve learned with your classmates. businesses and cash flow the business. statements Respond to the following questions in 1. Reading: In Small Business the class discussion this week: Management, read:  Chapter 10, “Understanding a  What types of assets might a Firm’s Financial Statements,” small business have? pages 291-329.  What types of debts (liabilities) might a small business have? 2. Lesson Presentation: Complete  What does a current ratio the following: measure and how do you  Discuss the presentation titled calculate it? “Chapter 10: Understanding a Firm’s Financial Statements.” Working individually, prepare a power point presentation of today’s class discussion and submit it for grading. You may add new thoughts or your perspective on the discussion if desired. Assure that your work is neat and legible.

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Apply Prepare an You have learned about the various Teamwork (50 points) principles of income financial statements that businesses After reviewing this week’s reading, financial statement for a use to evaluate levels of performance. and visiting the Web sites that offer management to small business additional information about small 1. Review: In Small Business financial statements and balance businesses Management, review: sheets, you will work with your  Chapter 10, “Understanding a teammates to explain and prepare an Firm’s Financial Statements,” income statement. pages 291-329. Participate in the teamwork activity 2. Web sites: Visit the following by completing the following: © 2012 Corinthian Colleges, Inc. Business v2.0 SBM 2000 Small Business Management. Rev. 01-01-2012. 14 Web sites:  SBA Business Plan Template:  Explain the following parts of an http://web.sba.gov/busplantempl income statement: ate/FinMan.cfm a. Gross profits  Urgent Business Forms: b. Operating expenses http://www.urgentbusinessforms. c. Operating profits com/balance_sheet.asp d. Net profits  Prepare an income statement for a 3. Preparation for Week 6: In Small profitable small business. Include Business Management: at least 10 operating expenses.  Read Chapter 12, “A Firm’s Use an income tax rate of 25%. Sources of Financing,” pages 356- 384. Follow the guidelines for teamwork given in Week 4.

Submit your teamwork at the beginning of Week 6.

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Distinguish Develop a list In Week Five, you learned that a Individual Work (50 points) between the of sources of firm’s financial statements can In this week’s reading, you learned alternative financing for a provide a way for lenders and about sources of financing for small options for small small business investors to gauge the performance of businesses. Now, you will develop a business the business. This week, you will short list of financing options for a ownership learn about sources of financing, and new business. work to develop a list of sources of Outline the financing for a small business.  Imagine that you are starting a framework for new small business and need small business 1. Reading: In Small Business financing. ownership Management, read:  Describe at least five sources of  Chapter 12, “A Firm’s Sources of financing for your business. As Apply principles Financing,” pages 309-337. one of your five sources, include of financial one government-sponsored management to 2. Lesson Presentation: Complete program that provides financing small businesses the following: to small businesses.  Discuss the presentation titled  In addition to your five “Chapter 12: A Firm’s Sources of descriptions or sources, provide Financing.” the name and address of one venture capital firm in a city near you that could provide funding for your business.

Length Requirement: You should identify and briefly describe each of the five sources, and then add the contact information for your selected venture capital firm.

List any sources in APA format.

Save your document with a file name that includes your name_course code- section number_title.

Distinguish Evaluate the 1. Review: In preparation for the Quiz (60 points) between the three forms of quiz, review: This quiz covers the following alternative small business  Chapter 6, “The Business Plan: material from Small Business options for small ownership: sole Visualizing the Dream,” pages Management: business proprietorships 164-197. ownership , partnerships,  Chapter 8, “The Organizational  Chapter 6, “The Business Plan: and Plan: Teams, Legal Structures, Visualizing the Dream,” pages Employ the corporations Alliances, and Directors,” pages 164-197. concepts of 229-259.  Chapter 8, “The Organizational entrepreneurshi Analyze the  Chapter 10, “Understanding a Plan: Teams, Legal Structures, p and identify process of Firm’s Financial Statements,” Alliances, and Directors,” pages small business developing a pages 291-329. 229-259. opportunities business plan,  Chapter 12, “A Firm’s Sources of  Chapter 10, “Understanding a and challenges including the Financing,” pages 356-384. Firm’s Financial Statements,” plan’s specific pages 291-329. components 2. Preparation for Week 7: In Small  Chapter 12, “A Firm’s Sources of Business Management: Financing,” pages 356-384. Describe key  Read Chapter 7, “The Marketing financial Plan,” pages 198-228. statements, including balance sheets and cash flow statements

Prepare an income statement for a small business

Develop a list of sources of financing for a small business

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Apply Explain the Just as a person’s individual Class Discussion (20 points) marketing importance of philosophy determines his or her In your reading, you learned about principles to marketing, approach to various aspects of life, an potential target markets. Recall that the small including entrepreneur’s personal philosophy market segmentation is a way of fine- business marketing determines his or her approach to tuning your target market. Consider environment research, marketing the business. You will the characteristics of market segments marketing learn about the different marketing and the strategies that can be used segmentation, philosophies this week and about the with each. With this in mind, respond and sales overall importance of all the to the following questions in the class forecasting, for components of marketing to a small discussion this week: small business. businesses  What is an unsegmented 1. Reading: In Small Business strategy? Management, read:  What is a multisegment strategy?  Chapter 7, “The Marketing Plan,”  What is a single-segment pages 198-228. strategy?  Identify and briefly describe a 2. Lesson Presentation: Complete small business near you. Which the following: segmentation strategy is this  Discuss the presentation titled business using? Explain. “Chapter 7: The Marketing Plan.” Working individually, prepare a power point presentation of today’s class discussion and submit it for grading. You may add new thoughts or your perspective on the discussion if desired. Assure that your work is neat and legible.

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Apply Use the Four Ps The “Four Ps” of marketing, Individual Work (50 points) marketing of marketing in otherwise known as the marketing You have probably heard one principles to relation to mix, can be considered a set of tools character in a movie tell another that the small small that an entrepreneur can use to the three most important factors for business businesses: promote a business or product. In the determining the quality of a property environment Place second part of this week, you will are “location, location, location.” It’s examine the first “P”: Place. true for businesses as well, © 2012 Corinthian Colleges, Inc. Business v2.0 SBM 2000 Small Business Management. Rev. 01-01-2012. 19 particularly “brick-and-mortar” retail 1. Reading: In Small Business businesses. Management, read:  Chapter 9, “The Location Plan,”  Briefly describe the five key pages 260-290. factors in selecting a good location for a “brick-and-mortar” 2. Lesson Presentation: Complete retail store. the following:  Which of these factors do you  Discuss the presentation titled believe is most important? Why? “Chapter 9: The Location Plan.” Length Requirement: You should 3. Preparation for Week 8: In Small write a brief description of each of the Business Management: five factors, and then add at least one  Read Chapter 15, “Product paragraph to explain your choice of Development and Supply Chain the most important factor. Management,” pages 438-471.  Read Chapter 16, “Pricing and List any sources in APA format. Credit Decisions,” pages 472-495. Save your document with a file name that includes your name_course code- section number_title.

Part 1 of 1

Apply Use the Four Ps Last week’s activities introduced you Class Discussion (20 points) marketing of marketing in to the first “P” in the “Four Ps of In your class discussion for this week, principles to relation to Marketing” – Place. In this week, you you will examine the different the small small will continue to explore and use the considerations involved in promoting business businesses: next two “Ps”: Product and Pricing. a business “Product.” environment Product and Pricing 1. Reading: In Small Business  First, visit a local retail store and Management, read: look at the brand names, package  Chapter 15, “Product designs, and labels for various Development and Supply Chain products. Choose one product Management,” pages 438-471. that you think is a “good”  Chapter 16, “Pricing and Credit example of these product Decisions,” pages 418-439. components, and choose one product that you think is a “bad” 2. Lesson Presentation: Complete example of these components. the following:  Discuss the presentation  Then, in the class discussion this “Chapter 15: Product week, describe each product in Development and Supply Chain terms of branding, packaging, Management.” and labeling.  Discuss the presentation “Chapter 16: Pricing and Credit Working individually, prepare a Decisions.” power point presentation of today’s class discussion and submit it for 3. Preparation for Week 9: In Small grading. You may add new thoughts Business Management: or your perspective on the discussion  Read Chapter 17, “Promotional if desired. Assure that your work is Planning,” pages 496-520. neat and legible.

Individual Work (50 points) For your assignment this week, you will use your new understanding of the “Pricing” part of the marketing mix to examine the pricing strategy of a small business. In your written assignment, complete the following activities:

 Briefly describe the six pricing strategies. © 2012 Corinthian Colleges, Inc. Business v2.0 SBM 2000 Small Business Management. Rev. 01-01-2012. 21  Identify and briefly describe a small business in your area.  Which pricing strategy does this business use? Explain.

Length Requirement: You should write a brief description of each of the six pricing strategies. Add a minimum of two paragraphs to describe the small business and the pricing strategy it uses.

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Apply Use the Four Ps Over the last two weeks, you have Class Discussion (20 points) marketing of marketing in examined three of the “Four Ps of In your class discussion this week, principles to relation to Marketing” – Place, Product, and you will use your understanding the small small Pricing. In this week’s activities, you of the “Promotion” part of the business businesses: will work with the fourth P: marketing mix to determine an environment Promotion Promotion. approach to cost-effective promotion. 1. Reading: In Small Business Management:  First, imagine that you are a small  Read Chapter 17, “Promotional business owner with a very Planning,” pages 496-520. limited promotional budget. You cannot afford large-scale mass 2. Lesson Presentation: Complete media advertising, such as the following: expensive television or radio  Discuss the presentation titled advertising. “Chapter 17: Promotional Planning.”  In the class discussion this week, identify and briefly describe at least five things you could do to promote your business.

Working individually, prepare a power point presentation of today’s class discussion and submit it for grading. You may add new thoughts or your perspective on the discussion if desired. Assure that your work is neat and legible.

Part 2 of 2

Apply Explain the 1. Review: In preparation for the Quiz (60 points) marketing importance of quiz, review: This quiz covers the following principles to marketing,  Chapter 7, “The Marketing Plan,” material from Small Business the small including pages 198-228. Management: business marketing  Chapter 9, “The Location Plan,” environment research, pages 260-290.  Chapter 7, “The Marketing Plan,” © 2012 Corinthian Colleges, Inc. Business v2.0 SBM 2000 Small Business Management. Rev. 01-01-2012. 23 marketing  Chapter 15, “Product pages 198-228. segmentation, Development and Supply Chain  Chapter 9, “The Location Plan,” and sales Management,” pages 438-471. pages 260-290. forecasting, for  Chapter 16, “Pricing and Credit  Chapter 15, “Product small Decisions,” pages 472-495. Development and Supply Chain businesses  Chapter 17, “Promotional Management,” pages 438-471. Planning,” pages 496-520.  Chapter 16, “Pricing and Credit Use the Four Ps Decisions,” pages 472-495. of marketing in 2. Preparation for Week 10: In  Chapter 17, “Promotional relation to Small Business Management: Planning,” pages 496-520. small  Read Chapter 14, “Building businesses: Customer Relationships,” pages Place 408-433.

Use the Four Ps of marketing in relation to small businesses: Product and Pricing

Use the Four Ps of marketing in relation to small businesses: Promotion

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Apply Illustrate some Positive customer relationships are a Class Discussion (20 points) principles of approaches for crucial factor in the success of a small Reflect on what you have learned this customer building business. This week’s activities focus week about customer relationship relationship customer on ways to build and maintain these management, or CRM. Excellent management relationships relationships, and how to support customer service management is a and customer and managing dissatisfied customers. particular mindset that provides a behavior to customer guideline for positive interactions small satisfaction 1. Reading: In Small Business with customers. businesses Management, read:  Chapter 14, “Building Customer Respond to the following questions in Relationships,” pages 408-433. the class discussion this week:

2. Lesson Presentation: Complete  Describe three things you could the following: do to provide excellent  Discuss the presentation titled customer service as a small “Chapter 14: Building Customer business owner. Relationships.”  Describe one type of information that you would want to include in the customer profiles at your business.

Working individually, prepare a power point presentation of today’s class discussion and submit it for grading. You may add new thoughts or your perspective on the discussion if desired. Assure that your work is neat and legible.

Part 2 of 2

Apply Outline the Consumers advance through a Individual Work (50 points) principles of customer decision making process in order to Recall the consumer decision making customer decision come to a conclusion about whether process from your reading in Chapter relationship making process or not they want to buy a particular 14. For your individual work this management and the product. Your work this week will week, you will determine possible and customer influences on focus on this process, and you will strategies for influencing customer behavior to customer determine how this influences behavior. In your written © 2012 Corinthian Colleges, Inc. Business v2.0 SBM 2000 Small Business Management. Rev. 01-01-2012. 25 small behavior customer behavior. assignment: businesses 1. Reading: In Small Business  Briefly outline the four stages of Management: the consumer decision making  Review Chapter 14, “Building process. Customer Relationships,” pages  Give an example of how you, as a 408-433. small business owner, could influence your customers at the 2. Lesson Presentation: Complete purchase decision stage. the following:  Review the presentation titled Length Requirement: You should “Chapter 14: Building Customer write a brief description of each of the Relationships.” four stages in the decision making process. Add a minimum of one 3. Preparation for Week 11: In paragraph to describe how you could Small Business Management: influence your customers.  Read Chapter 20, “Managing Human Resources,” pages 580- List any sources in APA format. 609. Save your document with a file name that includes your name_course code- section number_title.

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Analyze the Outline key Even before your business opens, you Individual Work (50 points) management of issues in may need to consider how to manage Entrepreneurial businesses are day-to-day managing human resources. Just as the business attractive employers for workers for operations for a human must be a good fit with the many reasons. With this in mind, small business resources and entrepreneur, there must be a good fit consider how you could recruit and employer- for the small business employee. choose employees. employee There are also many other factors to relationships, consider in managing human Imagine that you are a small business such as resources for a small business, owner. As such, complete the recruiting, including compensation and following activities: selecting, incentive. training, and  Describe three sources you could compensating 1. Reading: In Small Business use for recruiting employees. employees Management, read:  Describe three steps you would  Chapter 20, “Managing Human take to evaluate and select Resources,” pages 580-609. employees.

2. Lesson Presentation: Complete Length Requirement: You should the following: write a brief description of each of the  Discuss the presentation titled three recruiting sources. Add a brief “Chapter 20: Managing Human description of each of the three steps Resources.” you would take to evaluate and select employees.

Analyze the Illustrate the In this second half of Week Eleven, Class Discussion (20 points) management of importance of you will turn your attention from Quality management is customer- day-to-day managing human resource management to focused. Consider what this means in operations for a operations, operations management. relation to operational management. small business including inventory 1. Reading: In Small Business  Based on the concepts in Chapter management, Management, read: 21 of your textbook, describe quality  Chapter 21, “Managing three ways that small business management, Operations,” pages 610-641. owners could improve operations purchasing, at their business. and production 2. Lesson Presentation: Complete management the following: Working individually, prepare a  Discuss the presentation titled power point presentation of today’s “Chapter 21: Managing class discussion and submit it for Operations.” grading. You may add new thoughts or your perspective on the discussion 3. Preparation for Week 12: In if desired. Assure that your work is Small Business Management: neat and legible.  Read Chapter 23, “Managing Risk in the Small Business,” pages 601- 622.

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Apply Characterize For any business, you must have Class Discussion (30 points) principles of the types of contingency plans in place to manage Planning ahead for risk involves customer risks for small the unexpected. Risk management awareness of possible risks, and relationship businesses and involves planning not only for thinking through ways to control management risk unusual events, but also for risks and financial losses. Reflect on and customer management, unsuccessful normal business what you have read in this week’s behavior to including operations. You will learn about these activities, then discuss risk small insurance risks in this last week of your class, management with your classmates. businesses and examine some ways to prepare for them.  Describe three risks a small Analyze the business might face. management of 1. Reading: In Small Business  Explain two ways to manage risk day-to-day Management, read: at a small business. operations for a  Chapter 23, “Managing Risk in small business the Small Business,” pages 670- Working individually, prepare a 692. power point presentation of today’s class discussion and submit it for 2. Lesson Presentation: Complete grading. You may add new thoughts the following: or your perspective on the discussion  Discuss the presentation titled if desired. Assure that your work is “Chapter 23: Managing Risk in neat and legible. the Small Business.”

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Apply Illustrate some 1. Reading: In preparation for the Quiz (60 points) principles of approaches for quiz, review: This quiz covers the following customer building  Chapter 14, “Building Customer material from Small Business relationship customer Relationships,” pages 408-433. Management: management relationships  Chapter 20, “Managing Human and customer and managing Resources,” pages 580-609.  Chapter 14, “Building Customer behavior to customer  Chapter 21, “Managing Relationships,” pages 408-433. small satisfaction Operations,” pages 610-641.  Chapter 20, “Managing Human businesses  Chapter 23, “Managing Risk in Resources,” pages 580-609. Outline the the Small Business,” pages 670-  Chapter 21, “Managing Analyze the customer 692. Operations,” pages 610-641. management of decision  Chapter 23, “Managing Risk in day-to-day making process the Small Business,” pages 670- © 2012 Corinthian Colleges, Inc. Business v2.0 SBM 2000 Small Business Management. Rev. 01-01-2012. 29 operations for a and the 692. small business influences on customer behavior

Outline key issues in managing human resources and employer- employee relationships, such as recruiting, selecting, training, and compensating employees

Illustrate the importance of managing operations, including inventory management, quality management, purchasing, and production management

Characterize the types of risks for small businesses and risk management, including insurance