SBM - Small Business Management

Using case studies and testimonials, this advanced course analyzes business start-ups—both successes and failures —to determine the key success factors of successful business launches. When to sell-off or, alternatively, how to begin or expand a start-up are also considered on a case-by-case basis. 4 quarter hours

This course emphasizes the stewardship, involvement, and management transfer of family businesses from the perspective of the owner, as well as from interacting family members and other stakeholders. Trends in family business, dynamics of the family as coworkers, and generational differences in management and communication style are also addressed. Students study a particular family business in-depth, providing recomendations and proposals for enhancement or improvement. Prerequisite: SBM 312 NOTE: This course replaces MGT 333 in previous curricula.

Through case studies and business planning exercises, students will learn tactics for how to set clear financial goals for the business, design and use financial statements and dashboard reports, develop revenue and expense forecasts, manage cash resources, and design effective financial exit strategies. Discussions will focus on the application of financial reporting as a foundation for financing a new or small but expanding business, as well as on balancing the need for business financing with personal entrepreneurial goals. Forms of financing to be explored include bootstrapping, crowd funding, commercial loans, government and private grants, venture capital, and using money from friends and family. Prerequisite: SBM 312