Small Business Entrepreneurship - MG 423

Course Objectives

The objective of this course is to learn how to start a new business, and to write
an organized, succinct, and persuasive business plan for their business.
Students will learn concepts of successful entrepreneurship and apply these concepts
both in their business plan and in a final exam.
The instructor will present the necessary background information and principles that students
will need to understand what successful entrepreneurship involves from a complete
multidisciplinary perspective. Topics will include environmental opportunities, successful entrepreneurial teams,
market research, competitor analysis, pricing, risk, incorporating, strategy, pro forma statements
and financing, legal forms, idea protection, interpersonal skill development, networking, exit strategies,
and others.
Students will be expected to use these concepts in their business plan when appropriate,
and they will be tested on the main concepts after the course ends.
Students, in small teams, will develop, write, and present a business plan for a business
that they will create, and possibly start. Beginning in the third session, students will make
very brief weekly presentations of just a couple of minutes commenting on the progress of
their business plans. Instructor and students will share ideas on how to improve each segment of their
business plan, which will be presented in full in the final session of the course.

Course Content

Introduction, background, theory and practice of entrepreneurship
Development of opportunities, and industry analysis
Cognitive foundations of entrepreneurship and creativity
Gathering information for the business
Putting together the entrepreneurial team
Financing new ventures
Writing a successful business plan
Checklisting the company, the industry, and the products/services
Legal forms of new ventures
Checklisting the products and services
Markets and marketing
Checklisting technology, R&D, and market analysis
Developing Strategy
Checklisting competitors and competition
Idea protection and intellectual property
Checklisting operations and manufacturing
Various skills for the entrepreneur
Checklisting administration, organization, and personnel
HR management
Checklisting financial data and projections
Exit strategies
Checklisting the executive summary
Reviewing the entire business plan
Checklisting milestones, schedules, risks, and supporting documentation

Recommended Text:

Entrepreneurship: a Process Perspective , Robert A. Baron and Scott A. Shane, 2004,
Thomson South-western.
Student needs to purchase
Checklists for the Entrepreneur , Dennis Keefe.