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Management 350

MGNT 350: Owning and Managing a Business

Credit Hours: (3)

Designed for students who want to learn more about operating privately hold businesses.  Major topics include:  identifying business opportunities and threats, evaluating firm performance, developing and managing growth strategies, professional management in the entrepreneurial firm, managing assets, managing human resources, managing risk, preparing a succession plan, and evaluating exit strategies.  Students are advised to take one or more of the following courses:  ACTG 212; FINC 331; or MKTG 340 before enrolling in this class.

 

Detailed Description of Content of Course

Outline of Major Topics:

  • Characteristics of small business owners
  • Identifying unique skills, competencies, and resources
  • Identifying business opportunities and threats
  • Strategy formulation and competitive positioning in privately held firms
  • Evaluating firm performance
  • Developing and managing growth strategies
  • Professional management in the entrepreneurial firm
  • Managing assets
  • Managing human resources
  • Managing risk
  • Tax responsibilities
  • Managing financial resources
  • Preparing a succession plan
  • Evaluating exit strategies

  

Detailed Description of Conduct of Course

Owning and Managing a Business will include a variety of learning experiences including some combination of lectures, student presentations, library and field research projects, written assignments, analysis of cases, outside reading assignments, guest lecturers, analysis of articles in contemporary magazines and journals, and video tape presentations.

 

Goals and Objectives of the Course

At the conclusion of the course, the student will be able to:

  • Evaluate potential market opportunities
  • Identify business opportunities and threats
  • Evaluate businesses performance
  • Prepare a long range plan that addresses strategic and succession issues
  • Understand critical issues in managing assets, human resources, financial resources and risk in a privately held firm
  • Identify sources of growth financing
  • Develop and evaluate succession and exit strategies

 

Assessment Measures

Assessment of the student's success in the course is based on examinations during the semester, project presentations, and other class engagement exercises.

 

Other Course Information

 

Review and Approval

DATE ACTION APPROVED BY
September 10, 2007 reviewed and approved by the Department of Management faculty