MT209 Small Business Management Unit 1 - Introduction: Entrepreneurship, Integrity, and Ethics

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Course Overview Unit 1 - Introduction: Entrepreneurship, Integrity, and Ethics Unit 2 - Getting Started: From Idea to Business Venture Unit 3 - Planning the Business and Its Products or Services Unit 4 - Marketing the Business Unit 5 - The Business as a Global Entity Unit 6 - Operating the Business Unit 7 - Managing and Organizing the Business Unit 8 - Financing and Capitalizing the Business Unit 9 - Managing Business Risk Unit 10 - Reflecting on MT209, Small Business Management

How to Be Successful in This Course Check Kaplan each day Read all Announcements Complete all assigned readings each unit before doing other work Complete all assignments and work on unit To Do List Ensure all assigned work is completed by the close of each unit Reach out to your instructor for any help you feel you need without delay Note: Kaplan Unit Weeks begin on Wednesday mornings and extend through the following Tuesday night at midnight your time Course work is designed for you to have each unit’s work submitted during this times.

Read Your Syllabus Often Course syllabus is your “roadmap” or “GPS” for the course. You should have received a copy prior to class, a copy is contained within the course room and a copy is in your Doc Sharing area. It contains the requirements and expectations for this course. It is your responsibility to read this carefully and to thoroughly understand everything in it. It is a good idea to print a copy for your reference.

Key Syllabus Points: The Kaplan School of Business Late Policies Kaplan School of Business Late Policies are designed to help you in the event of life-changing events such as serious illness, death, military duty, etc. It is not designed to assist with computer-related problems, time management issues, etc. In the event you experience an extenuating circumstance, the key is to notify your instructor immediately for help. In the absence of any extenuating circumstances, the following late penalties apply: Up to one week (1-7 calendar days) late 20% deduction in points. After one week (8-14 calendar days) late 30% deduction in points. No work will be accepted more than two (2) weeks after the due date. Late work must be submitted prior to the last day of the course. Final projects will not be accepted after the due date established in the course

Key Syllabus Points: Grades GradePointsPercentage Grade Point A930 – %4.0 A-900 – %3.7 B+870 – %3.3 B830 – %3.0 B-800 – %2.7 C+770 – %2.3 C730 – %2.0 C-700 – %1.7 D+670 – %1.3 D600 – %1.0 F0 – %0.0 W WithdrawalN/A AU AuditN/A EC Experiential Credit N/A I Incomplete0.0 P PassN/A S SatisfactoryN/A U UnsatisfactoryN/A TC Transfer Credit N/A R RepeatN/A No Grade

Weekly Graded Activities: Gradebook Unit # Total Discussion Assignment Quiz Seminar/Alternative Assignment Final Project 95 Writing Assignment 35 Activity 35 Total

Class Discussions Discussion Boards: Each week we will have a Class Discussion. It begins on Wednesday mornings. Please note the following: You are required to post your initial post of no less than 100 words adequately addressing the topic by Saturday midnight ET You are required to post to the discussion board at least 3 days of the unit Your posts are expected to be substantial, always be topic related, and contribute to the professional quality of our academic discussion I will read every post and provide feedback on most posts Your discussions will be graded on: content, participation, clarity, organization, and professionalism. Each is worth 30 points

Assignments Assignments related to the business plan: Units 1, 2, 3, 4, 6, 7, and 8 Use MT209 Project Template in Doc Sharing Refer to MT209 Project Instructions in Doc Sharing Each Assignment worth 40 points Special Activity on Negotiation: Units 8

Review Quizzes Quizzes: Units 2, 4, 5, 6, 7, and 9 Each Quiz worth 20 points Quizzes May be taken as often as you wish during the particular unit; The grade you earn will always be based on the last quiz taken. Cannot be taken once a Unit is complete Quiz grades will appear in Grade Book 1 week after end of Unit

Seminars Seminars: Units No seminar in Unit 10 Audio seminars Graded: Each seminar worth 15 points Full points earned for significant engagement in Seminar; meaning full sentences are used. Yes/No are not counted Missed Seminar requires 2-page paper - alternative assignment as outlined in each Unit You must listen to seminar and refer to it in the paper Kaplan late policy applies

Final Project A completed Mini-Descriptive Business Plan Unit 9 – Complete Executive Summary Unit 9 – incorporate all feedback from previous submissions of sections in each Unit Unit 9 – Final product is a properly formatted paper consisting of all Sections completed during course Grade – 95 points Due – last day of Unit 9; no exceptions

Writing Assignment Unit 10 – Last Assignment: A short writing example Minimum two pages Reflect on what you have learned Grade – 35 points Due – last day of Unit 10 Answer following questions: 1.Reflect and describe which skills you have learned in this course that you can list on your resume from the Potential Career Skills shown in the instructions 2.Discuss how these skills will be useful to you when applying for jobs

The Online Environment Requirements for successful online study: Working computer and a back up plan Reliable ISP and back up plan Microsoft Word (not Works) files submitted in.doc or docx format Adobe Acrobat Reader for PDF documents Text book – an e-Text version of the Lonegenecker, Petty, Palich, and Moore (2011) text Small Business Management (15 th ed.). You will find these chapters in your Doc Sharing area.

Any questions?

Unit 1 Outcomes As a result of your work in this unit, you should be able to: Distinguish between entrepreneurial and managerial skill sets. Distinguish among the different types and sources of business ownership options. Describe external and internal analyses that might shape the selection of venture opportunities. Explain broad-based strategy options and focus strategies. Assess the feasibility of a business idea before writing a business plan.

Unit 1 To Do List: Start the Unit: Review Syllabus Review key terms Read: Chapters 1 and 2 in your text About your final project PowerPoint: Ethical Systems Graded Assignments: Unit 1 Discussion Case Study – Not so sweet surrender Seminar or alternative assignment

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What is Entrepreneurship? Entrepreneurship requires and entrepreneurial opportunity: Original idea New business opportunity Careful evaluation of the opportunity: Before window of opportunity passes Is concept feasible Form the company

Entrepreneurship versus Management Entrepreneurial skills required to: Identify Evaluate Exploit Enact the business idea Managerial skills: Ability to sustain and grow business Managerial skills can pose a challenge for an entrepreneur What common traits can you think about when your hear the word “entrepreneur” Take a moment and list some traits and why they are traits Use complete sentences – e.g. “An entrepreneurial trait is XXX, because it allows the entrepreneur to …”

Entrepreneurship versus Management What common traits can do you associate with managing a business? Do these reflect discipline, narrow focus, specific repetitive things Take a moment and list some traits and why they are traits Use complete sentences – e.g. “Managing a business requires this trait XXX, which the manager needs to do…”

Any questions?

Integrity and Entrepreneurship What Is Integrity? -An uncompromising adherence to doing what is right and proper -Honesty, reliability, and fairness in business practices -An essential element of successful business relationships -It is as much about what to do as it is who to be. Doing the Right Thing -Ethical issues—questions of right and wrong -Legal and ethical considerations- are they the same? -Conflicts of self-interest

Exhibit 2.1Difficult Ethical Issues Facing Small Firms Relationships with customers, clients, and competitors (relationships with outside parties in the marketplace) Human resource decisions (decisions relating to employment and promotion) Employee obligations to employer (employee responsibilities and actions that in some way conflict with the best interests of the employer) Management processes and relationships (superior–subordinate relationships) Governmental obligations and relationships (compliance with governmental requirements and reporting to government agencies) Relationships with suppliers (practices and deceptions that tend to defraud suppliers) Environmental and social responsibilities (business obligations to the environment and society) Source: Leslie E. Palich, Justin G. Longenecker, Carlos W. Moore, and J. William Petty, “Integrity and Small Business: A Framework and Empirical Analysis,” proceedings of the forty-ninth World Conference of the International Council for Small Business, Johannesburg, South Africa, June 2004.

See you next week! Remember, our Class Seminars will always be held at the same hour and the same day each week! After this seminar has concluded, there will be a recording in the archives located in the seminar room. It may be selected by date.

Thank you for joining me today! I look forward to joining you next week!