MT209 Small Business Management Seminar – Unit 1

Policies and Procedures Review your syllabus carefully Discussion Boards- 100 words, initial post by Saturday by midnight EST Two substantive additional posts to classmates on two additional different days

Assignments Review Discussion Boards - Graded DBs in Units 1 through 9 Reviews - Graded Review exercises in Units 1, 2, 5, 7, & 9 Case Studies – Graded Case Studies in Units 3, 4, 6, & 8 Activity - Unit 5 – financial plan Final project (Business Plan) is due in Unit 9 (140 points); please note that in Units 2, 4, 6, & 8 you are encouraged to work on specific sections of this plan Writing Assignment: Written reflection paper due Tuesday by midnight EST in Unit 10 (40 points)

Review Exercises We have graded Reviews Units 1, 2, 5, 7, and 9 Each review is worth 40 points Reviews are available for the entire week/unit in which they are assigned You can retake them as many times as you wish during the week/unit. Reviews cannot be made up once a Unit is done Review Grades appear ONE week after the Unit is finished

Case Studies Graded Case Studies in Units 3, 4, 6, & 8 – worth 50 points. Use the Case Analysis Template located in Doc Sharing Do not retell the case In ONE paragraph state the facts of the case The rest of the paper is to be analysis of the case based on the questions asked

Final Project Final Project (Business Plan) due in Unit 9 To complete our Final Project: Use MT209 Final Project Template Use the MT209 PowerPoint Template Read the MT209 Final Project Instructions ALL these can be found in Doc Share In Units 2, 4, 5, 6, & 8, students are encouraged to work on specific elements of the Final Project

APA in-text citations Let the reader know by: saying… According to Stone and Matick (2009), the “proliferation of new businesses indicates a favorable environment” (para. 7). OR The “proliferation of new businesses indicates a favorable environment” as stated by Stone and Matick (2009, para. 7).

APA References For a web article: Stone, J.T. and Matick, L. (2009). The amazing business transformation. Retrieved from CourseID= & &ClientNodeID =404340&coursenav=2&bhcp=4 CourseID= & &ClientNodeID =404340&coursenav=2&bhcp=

1 st Peer reviewed Jounals/articles The Economist, Foreign Affairs etc. Wikipedia is not a reputable source Neither is someone’s blog or a random person’s website. Unless the site is affiliated with a reputable organization, like World Bank, U.S. Government, World Trade Organization, University site etc. it is probably not a valid site. APA Reputable Sources

When citing a website: Sometimes the article or website is published by someone else: If the website (look carefully on the site, sometimes listed at the very bottom of the screen)-has no author use the company or University/organization name first in the reference.

Example of Paraphrase citation and Reference: Paraphrase: As shown on the State University of Michigan globaledge website, China ranks in the top five countries in terms of a favorable business environment for the next ten years (China: Economy section, ). Reference: State University of Michigan. ( ). China: Economy. Retrieved from

APA - Continued Longenecker, J., Moore, C., Petty, J, & Palich, L. (2010). Small business management: Launching & growing entrepreneurial ventures (15 th ed.). Florence, KY: Cengage Learning, Inc.

UNIT 1 The Entrepreneurial Life

The Contributions of Small Business © 2010 South-Western, Cengage Learning, Inc. All rights reserved. 1–14 Small Businesses: ▫ Comprise 99.7% of all firms with employees. ▫ Employ over 50% of employees in the private sector. ▫ Account for 45% of private payrolls. ▫ Generated 60 to 80% of net new jobs in past decade. ▫ Create more than half of the country’s GDP. ▫ Hire 40% of high-tech employees ▫ Represent 97.3% of all exporters.

Who Are Entrepreneurs? © 2010 South-Western, Cengage Learning, Inc. All rights reserved. 1–15 Entrepreneurs are: ▫ A person(s) who starts and/or operates a business. ▫ Individuals who discover market needs and launch new firms to meet those needs. ▫ Risk takers who provide an impetus for change, innovation, and progress. ▫ All active owner-managers (founders and/or managers of small businesses).

What are the rewards of being an Entrepreneur? In the chat box let me know what you think the rewards would be.

© 2010 South-Western, Cengage Learning, Inc. All rights reserved. 1–17 Exhibit 1.2Entrepreneurial Incentives

What would be the frustrations and difficulties? Please let me know your thoughts on this in the chat box.

No road map Financing Obtaining all the resources as inexpensively as possible: human, equipment, etc. Starting off with quality?- Might you have to settle for a Website or packaging that is good enough for now? Frustrations of Entrepreneurship

Integrity and Entrepreneurship © 2010 South-Western, Cengage Learning, Inc. All rights reserved. 2–20 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

© 2010 South-Western, Cengage Learning, Inc. All rights reserved. 2–21 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) 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.

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 © 2010 South-Western, Cengage Learning, Inc. All rights reserved. Exhibit 2.1Difficult Ethical Issues Facing Small Firms

Unit 1 Seminar Wrap-Up If you need assistance:  Contact me at  Post message to “Instructor’s Office”  Meet with me Weds at 7 pm ET and Mon at Noon ET during Virtual Office Hours  KU Tech Support:  Academic Advisor: If you have any challenges that prevent you from succeeding this term or at KU in general  Other KU Resources: Writing Center, etc. Our next “live” seminar: Unit 2 Questions? o Course Website or Content? o Assignments? o Other issues?