Course Description
This course provides students with an introduction to the theoretical and practical aspects of the start-up and management of a new venture. Topics include: Business plan development, purchasing a business, location analysis and leasing, evaluating a business opportunity, financing a business, marketing, financial management and systems, personnel management, customer relations, leadership, managing conflict and communications. The main emphasis will be on new venture management.
Course Content
- Role of Small Business in Canada
- The Small Business Decision
- personal capabilities evaluation
- comprehensive case
- Evaluation of Business Opportunity
- non-quantitative assessment
- steps in quantitative assessment
- feasibility analysis
- comprehensive case
- Organizing a Business
- business plan components
- forms of business ownership/legal requirements
- small business plan checklist
- applied example
- Buying a Business
- sourcing and evaluation
- buying checklist
- Franchising
- potential franchisee checklist
- comprehensive case
- Financing the Small Business
- equity and debt financing
- government programs
- comprehensive case
- Marketing Management
- management process recap
- marketing plan
- marketing checklist
- Financial Management
- fundamentals of small business accounting
- computerization of MIS
- budgets
- financial planning and operations control
- comprehensive case
- Operations Management
- layouts for retail firms
- purchasing and controlling inventories
- total quality management
- comprehensive case
- Personnel Management
- Tax Management
- Managing Growth
- Managing the Transfer of Ownership
- transfer characteristics
- issues relating to family and non-family persons
- information regarding closure
Learning Activities
Lectures, seminar discussions, case study analysis, role playing, guest lectures on industry-specific subjects.
Means of Assessment
| Midterm Examination |
20% |
| Group Project |
15% |
| Business Plan |
25% |
| Final Examination |
30% |
| Participation |
10% |
| |
100% |
Learning Outcomes
Business Start-up
The student will be able to:
- develop pro-forma financial statements using computerized spreadsheets
- determine market potential
- develop a business plan
- describe the legal requirements to start a small business
- evaluate a franchise or other small business opportunity as a possible acquisition
- describe the key factors in selecting a retail location and layout
- identify sources of financing.
Small Business Management
The student will be able to:
- develop a marketing plan
- develop a promotional campaign
- develop a budget
- describe the elements of systems relating to accounting, payroll, inventory control and cash handling
- demonstrate an understanding of financial control techniques
- describe the principles and application of TQM (ie: Total Quality Management)
- describe and demonstrate the methods of hiring and training of employees
- describe and illustrate principles of effective personnel management relative to leadership styles
- explain key tax management principles that apply to small business
- describe the importance of managing growth and the problems that can accompany growth and success
- explain the important principles and considerations of ownership transfer to others - family or others outside the family.
Textbook Materials
Textbooks and Materials to be Purchased by Students
Balderson, Wesley D. Canadian Entrepreneurship and Small Business Management, Latest Ed., McGraw-Hill Ryerson
Personal computer access with word processing and spreadsheet capability.