STANDARD COMPETENCIES:

 

 I.      Understand and demonstrate fundamental management principles

 II.     Define what is meant by a small business, the advantages and disadvantages of going into business, and types of business ownership

 III.    Write a comprehensive business plan of an existing or prospective small business including a marketing plan and a financial analysis

 IV.     Explain the personnel and customer demands of a small business

 TOPICAL OUTLINE:

 

 I.      Entrepreneurship

 II.     Overview of a small business

         A.      Definition

         B.      Advantages and disadvantages

 III.    Investigating entrepreneurial opportunities

         A.      Sources of start-up ideas

         B.      Buying a firm or starting your own

         C.      Franchising

         D.      Legal forms of ownership

 IV.     Developing a business plan

         A.      Purpose

         B.      Elements

 V.      Developing a marketing plan

         A.      Market segmentation

         B.      Target markets

         C.      Sales strategies and forecasting

         D.      Product strategies

         E.      Pricing strategies

         F.      Promotional strategies

         G.      Distribution strategies

 VI.     Selecting a location and planning the facilities

 VII.    Finding sources of financing

 VIII.   Managing a small business

         A.      Styles of leadership

         B.      Organizational structure

         C.      Basic management functions

 IX.     Accounting and financial records

         A.      Budgets

         B.      Financial statements

         C.      Income projections

         D.      Taxes

         E.      Purchasing and inventory

         F.      Accounts receivable/payable

 X       Managing human resources

         A.      Recruitment

         B.      Selection

         C.      Evaluation

         D.      Compensation

         E.      Legal issues

         F.      Disciplining employees

         G.      Motivating employees

 XI.     Risk management and insurance

 XII.    Customer Service