Managing Entrepreneurial Ventures

Course Number: BA 250
Transcript Title: Managing Entrepreneurial Ventures
Created: September 1, 2012
Updated: July 18, 2020
Total Credits: 3
Lecture Hours: 30
Lecture / Lab Hours: 0
Lab Hours: 0
Satisfies Cultural Literacy requirement: No
Satisfies General Education requirement: No
Grading options: A-F (default), P-NP, audit
Repeats available for credit: 0

Prerequisites

BA 111 or BA 211

BA 104 or MTH 65 or MTH 98 or higher

Course Description

Emphasizes the general functions, procedures, and specific subject areas related to initiating, organizing, and operating a successful small business. Specifically prepares the student to develop a business plan for opening a business. Designed for students and prospective small business owners and managers. Prerequisites: WR 121, BA 101, BA 111 or BA 211, BA 104 or MTH 65 or MTH 98 or higher. Audit Available.

Intended Outcomes

Upon successful completion of Small Business Management, the student will be able to:

  1. Analyze the importance of small business in the economy.
  2. Prepare a comprehensive Business Plan.
  3. Apply analytical skills in reviewing financial statements and plans.
  4. Choose an appropriate legal form of business.
  5. Assess the tax implications of a small business.

Outcome Assessment Strategies

Of the outcome assessment strategies listed below, students will be expected to demonstrate knowledge of the concepts described by submitting a quality comprehensive Business Plan and at least two of the other following measures:

  • Attendance and participation
  • Group projects
  • Business Model or Business Game
  • Presentation(s)
  • Practice Set(s)
  • Case Study (ies)
  • Portfolio(s)
  • Research paper(s)
  • Book report(s)
  • Homework assignment(s)
  • Written paper
  • Quiz (zes)
  • Exam(s)

Texts and Materials

Text: Small Business Management: Launching & Growing Entrepreneurial Ventures, 19th Edition; Longenecker/Petty/Palich/Hoy; Cengage Learning

Course Activities and Design

The determination of teaching strategies used in the delivery of outcomes is generally left to the discretion of the instructor. Here are some strategies that you might consider when designing your course: lecture, small group/forum discussion, flipped classroom, dyads, oral presentation, role play, simulation scenarios, group projects, service learning projects, hands-on lab, peer review/workshops, cooperative learning (jigsaw, fishbowl), inquiry based instruction, differentiated instruction (learning centers), graphic organizers, etc.

Course Content (Themes, Concepts, Issues and Skills)

Outcome #1: Analyze the importance of small business in the economy.

To address this outcome, students should be taught:

  • The relative number of small vs. large business entities in the US and globally
  • The relative number of jobs created by small vs. large businesses
  • The role of integrity, ethics, and social entrepreneurship in business
  • How to develop an entrepreneurial mindset
Outcome #2: Prepare a comprehensive Business Plan.

To address this outcome, students should be taught:

  • How to visualize the future of an enterprise
  • How to develop a forecast for the enterprise
    • Marketing plan
    • Organizational plan
    • Human resource plan
    • Financial plan
    • How to raise adequate capital to launch and support a venture
Outcome #3: Apply analytical skills in reviewing financial statements and plans.

To address this outcome, students should be taught:

  • How to recognize start-up and acquisition opportunities
  • Analyze the comparative merits of franchising opportunities
  • How to use differential analysis to compare alternative courses of action
Outcome #4:Choose an appropriate legal form of business.

To address this outcome, students should be taught:

  • The characteristics of each legal form of business
    • Sole proprietorships
    • Partnerships
    • Limited Liability Companies
    • Corporations (C- and S-corporations)
  • The advantages and disadvantages of each legal structure
Outcome #5:Assess the tax implications of a small business.

To address this outcome, students should be taught:

  • The tax implications for owners of each legal structure
    • Pass-through taxation
    • Double taxation
    • Capital gains taxation (short- and long-term)
  • Under what circumstances the business entity is required to file a tax return
  • Under what circumstances IRS Schedule K-1 distribution is required