Course Number and Title:
MGT 218 Small Business Management
Campus Location
- Dover
- Georgetown
- Wilmington
Prerequisites
Prerequisite: (ENG 102 or higher) and MGT 212 and ACC 101
Course Credits and Hours
3 credit(s)
3 lecture hours/week
0 lab hours/week
0 offsite lab hours
Course Description
This course examines practical approaches to managing a small business, with emphasis on developing a business plan, evaluating ownership options, and applying financial, marketing, and human resource strategies. A strength, weakness, opportunities, and threats (SWOT) analysis and cost-volume-profit analyses is conducted while considering the legal, ethical, and external factors that influence small business operations. The course emphasizes strategic decision-making and the integration of planning, finance, and leadership in the small business environment.
Core Course Performance Objectives (CCPOs)
- Explain the role and contribution of small businesses in the U.S. economy. (CCC 1, 2; PGC 2)
- Describe the factors to be considered when entering small business ownership. (CCC 2, 4, 5; PGC 1, 2)
- Develop a small business plan. (CCC 1, 2, 3, 5; PGC 2, 3, 4)
- Evaluate various forms of business ownership and their implications for small businesses. (CCC 2, 4, 5; PGC 1, 2)
- Explain the external influences and their impacts on small businesses. (CCC 2, 4; PGC 2)
- Develop financial plans and projections for a small business. (CCC 2, 6; PGC 2, 5)
- Explain human resources and operations of a small business. (CCC 1, 2, 3, 4; PGC 1, 2, 3, 4)
See Core Curriculum Competencies and Program Graduate Competencies at the end of the syllabus. CCPOs are linked to every competency they develop.
Measurable Performance Objectives (MPOs)
Upon completion of this course, the student will:
- Explain the role and contribution of small businesses in the U.S. economy.
- Describe the benefits, opportunities, and drawbacks of owning a small business.
- Discuss the impact and frequency of business failure.
- Explain why failure is not always personal failure.
- Explain the contributions small businesses make to the United States economy.
- Describe the factors to be considered when entering small business ownership.
- Explain options for starting from scratch, buying an existing business, or pursuing a franchise/buyout.
- Identify the primary key factors to business success.
- Explain how creativity, innovation, and mindset contribute to entrepreneurial success.
- Discuss common pitfalls to avoid when entering into small business ownership.
- Develop a small business plan.
- Explain the importance of strategic planning for small businesses.
- Discuss the importance of identifying primary customers and core competencies.
- Identify essential elements of a business plan, including financials, marketing, and operations.
- Explain how small businesses establish and sustain a competitive advantage.
- Create a SWOT analysis for a small business.
- Apply the strategic planning process to develop a small business plan.
- Evaluate various forms of business ownership and their implications for small businesses.
- Discuss the advantages and disadvantages of sole proprietorships, partnerships, and corporations.
- Compare limited liability corporations, S corporations, and other hybrid forms.
- Explain the benefits and challenges of franchising and buyout models.
- Explain the external influences and their impacts on small businesses.
- Explain how laws and regulations affect small businesses.
- Discuss demographic, social, and cultural shifts that influence small business marketing.
- Describe the impact of technology, social media, and digital tools on small business operations and marketing.
- Identify and assess potential competitors and industry forces.
- Explain how economic conditions influence small business operations.
- Discuss ethical and social responsibility considerations for small businesses.
- Develop financial plans and projections for a small business.
- Explain key financial ratios in liquidity, leverage, operating, and profitability categories.
- Create a break-even (cost-volume-profit) analysis.
- Discuss funding sources available to small businesses, including small business administration (SBA).
- Analyze financial statements to inform small business management decisions.
- Explain human resources and operations of a small business.
- Describe essential human resource functions in small businesses, including hiring, training, and compliance.
- Discuss unique human resource challenges in small business.
- Identify policies and practices that support employee retention, safety, and productivity.
- Explain the operations of a small business.
- Explain supply chain and inventory management.
Evaluation Criteria/Policies
The grade will be determined using the Delaware Tech grading system:
| 90-100 |
= |
A |
| 80-89 |
= |
B |
| 70-79 |
= |
C |
| 0-69 |
= |
F |
Students should refer to the
Catalog/Student Handbook for information on the Academic Standing Policy, the Academic Integrity Policy, Student Rights and Responsibilities, and other policies relevant to their academic progress.
Final Course Grade
Calculated using the following weighted average
Evaluation Measure | Percentage of final grade |
Summative Assessments |
2-3 Exams (Equally Weighted ) | 30% |
Business Plan | 20% |
| Business Plan Presentation | 10% |
Formative Assessments |
The course will contain various formative assessments including but not limited to: - Assignments
- Quizzes
- Discussion Boards
- Case Studies
| 40% |
TOTAL | 100% |
Program Graduate Competencies (PGCs are the competencies every graduate will develop specific to his or her major)
- Integrate professional, ethical, and legal standards into business decision-making.
- Apply foundational business concepts that lead to strategic thinking and the ability to analyze complex problems.
- Use professional and technology-based skills that are relevant to the dynamic business environment.
- Employ effective communication skills and collaboration strategies to promote positive organizational outcomes.
- Apply skills necessary to analyze and interpret business and financial data for decision-making purposes.
Core Curriculum Competencies (CCCs are the competencies every graduate will develop)
- Apply clear and effective communication skills.
- Use critical thinking to solve problems.
- Collaborate to achieve a common goal.
- Demonstrate professional and ethical conduct.
- Use information literacy for effective vocational and/or academic research.
- Apply quantitative reasoning and/or scientific inquiry to solve practical problems.
Students in Need of Accommodations Due to a Disability
We value all individuals and provide an inclusive environment that fosters equity and student success. The College is committed to providing reasonable accommodations for students with disabilities. Students are encouraged to schedule an appointment with the campus Disabilities Support Counselor to request an accommodation needed due to a disability. The College's policy on accommodations for persons with disabilities can be found in the College's Guide to Requesting Academic Accommodations and/or Auxiliary Aids Students may also access the Guide and contact information for Disabilities Support Counselors through the Student Resources web page under Disabilities Support Services, or visit the campus Advising Center.