Small Business Owners - SaigonTech

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20 Νοε 2013 (πριν από 3 χρόνια και 6 μήνες)

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C
OURSE

INTRODUCTION

SMALL BUSINESS MANAGEMENT

BUSG
-
2309

Course description


Theory
and practical application of the small
business principles necessary for the operation
of a successful small business.


Designed
for students who want to evaluate
going into business for themselves or working
for a small business.


Sales
, finance, personnel and the concepts and
current practices of managing a small business.


S
tart‐up
and effective operation, includes
essential management skills, how to prepare a
business plan, accounting, financial needs,
staffing, marketing strategies, and legal issues.

Textbook

Course goals

The goal of this course
is:


to
inspire entrepreneurship to students,


t
o provide
them with an overview of the
concepts and processes involved in business and
business operations,
and


to equip
them with some basic tools and
techniques necessary for the establishment and
management of small business.

Pedagogical method


PowerPoint
presentations throughout the course.


Extensive
discussion


Working in teams


Chapter
quiz online and submit their result via
email after each class.

http://wps.prenhall.com/bp_scarborough_esbm_
9
/



Students shall be asked to discuss case studies in
small groups and present their findings to other
groups in the class.



Coaching on building financial models for the
business plan using Excel.

Course policies


Attendance


Academic honesty


Students with disabilities


Cell phones



Calculator, laptop, tablet


Student ID


Books, tools, and supplies


Dress code


Classroom & Lab conduct


Course withdrawal


Late submission

Course activities


Chapter quiz

http://wps.prenhall.com/bp_scarbo
rough_esbm_9/



Business plan project


Mid
-
term exam (multiple choice and
essay)


Final exam
(multiple choice and
essay
)


Grading

No.

Activities

Weights

1

Chapter quiz

10%

2

Class activities,
participation, attendance,
group discussion, and case
study

15%

3

Business Plan Project

20%

4

Mid
-
term exam

25%

5

Final exam

30%


Grade

Final scores

A

90


100

B

80


89

C

70


79

D

60


69

F

0


59


Plagiarism & cheating policy


Cheating


Plagiarism


Time table

Exam format sample

Exam

Exam Type

Number
of
Questions

Duration

(minutes)

Grade Sheet
Review

(minutes)

Possible
points

Proctor

Online
-
Multiple
Choice

(on Computer)

Open book

30

4
5

50

60

Instructor &

technical
supporter

Essay

(on Paper)

Open book

2

60

No

40

Instructor


S
O

YOU

WANT

TO

BECOME

AN

ENTREPRENUER
?

Toan

Nguyen

Jan 22, 2011

Who are they?

Bill Gates

Michael Dell

Mark
Zuckerberg

Robert
Kiyosaki

Tom
Szaky

Who are they?

Contents


What is an entrepreneur?


How to spot an entrepreneurial opportunities


The rewards of owning a small business


The risks


Why the boom?


The cultural diversity of Entrepreneurship


The contributions of small businesses


Putting failure into perspective


How to avoid the pitfalls


Conclusions

What is an
entrepreneur?

The World of the Entrepreneur


In the U.S., entrepreneurs start more than 6
million businesses a year!


Global Entrepreneurship Monitor (GEM)


Approximately 10% of U.S. population is
actively involved in trying to start a new
business


Approximately 9.5% of people in 42 GEM
countries studied are involved in starting a new
business


0.0
5.0
10.0
15.0
20.0
25.0
Belgium
Japan
Italy
Sweden
UAE
Germany
France
Slovenia
Russia
Singapore
Finland
Denmark
Mexico
South Africa
Netherlands
United Kingdom
Hungary
Turkey
Latvia
Canada
Spain
Ireland
Czech Republic
Greece
Croatia
Norway
Chile
United States
Argentina
India
Malaysia
Iceland
Brazil
Australia
Uruguay
Thailand
China
Indonesia
Jamaica
Phillpines
Colombia
Total Entrepreneurial Activity (TEA) Index

Country

Entrepreneurial Activity Across the Globe

Persons per 100 Adults, 18
-
64 Years Old Engaged in Entrepreneurial Activity

TEA Index
Global TEA Average
What Is an Entrepreneur?


One who creates a new business in the
face of risk and uncertainty for the
purpose of achieving profit and growth by
identifying opportunities and assembling
the necessary resources to capitalize on
them

What Is an Entrepreneur?

An entrepreneur is someone who
is willing to work 16 hours a day
to keep from working 8 hours a
day for someone else!

Characteristics of Entrepreneurs

Survey
: 72% of adults in the U.S. have considered
starting their own businesses


Willingness to take initiative


Preference for
moderate

risk


Confidence in their ability to succeed


Self
-
reliance


Perseverance


Desire for immediate feedback

Characteristics of
Entrepreneurs


High level of energy


Competitiveness


Future orientation


Serial entrepreneurs


Skilled at organizing


Value achievement over money

Entrepreneurship


One characteristic of entrepreneurs stands out:

Diversity!


Anyone



regardless of age, race, gender, color,
national origin, or any other characteristic


can
become an entrepreneur (although not
everyone should)

How to spot an
entrepreneurial
opportunity

How to Spot Entrepreneurial
Opportunities


Creativity vs. Innovation


Creativity



the ability to develop new
ideas and to discover new ways of
looking at problems and opportunities


Innovation



the ability to apply
creative

solutions to problems and
opportunities to enhance or to enrich
people’s lives

How to Spot Entrepreneurial
Opportunities


Monitor trends and exploit them early on


Starwich


Take a different approach to an existing market


Goodwin Heart Pine


Put a new twist on an old idea


PODS



How to Spot Entrepreneurial
Opportunities


Look for creative ways to use existing resources


Alaska Glacial Mud Company


Realize that others have the same problem that
you do


Stroller Strides


Notice what is missing


Dogs on Wheels



The rewards

Benefits of Small Business Ownership

The opportunity to:


Control your own destiny


Make a difference


Social entrepreneurs


Reach your full potential


Reap impressive profits


Contribute to society and to be recognized for your
efforts


Do what you enjoy and to have fun at it

The risks

Drawbacks of Small Business
Ownership


Uncertainty of income


Risk of losing your entire investment


Long hours and hard work

Source: MasterCard Global Small Business Survey, 2007.

1 to 39 hours

10%

40 to 49 hours

29%

50 to 59 hours

22%

60 to 69 hours

19%

More than 70
hours

20%

Small Business Owners' Work Week

Number of Hours Worked per Week

Average workweek = 54 hours

Copyright
©
2009 Pearson
Education, Inc. Publishing as
Prentice Hall

32

Drawbacks of Small Business
Ownership


Uncertainty of income


Risk of losing your entire investment


Long hours and hard work


Lower quality of life until the business gets
established

Source: National Federation of Independent Businesses and Wells Fargo Bank, 2002.

0.0%
10.0%
20.0%
30.0%
40.0%
Under
25
25-34
35-44
45-54
55-64
65+
9.8%

33.5%

31.1%

17.8%

6.1%

1.7%

Age

Owner Age at Business Formation

Drawbacks of Small Business
Ownership


Uncertainty of income


Risk of losing your entire investment


Long hours and hard work


Lower quality of life until the business gets established


High levels of stress


Complete responsibility


Discouragement

Why the
boom?

Feeding the

Entrepreneurial Fire


Entrepreneurs as heroes


Entrepreneurial education


Demographic and economic factors


Shift to a service economy


Technological advancements


Independent lifestyles


E
-
Commerce and the World Wide
Web


International opportunities


Cultural
diversity of
entrepreneur
ship

The Cultural Diversity of
Entrepreneurship


Young entrepreneurs

0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Asian/Pacific
Islander
African-
American
Hispanic-
American
White
89%

86%

79%

69%

Aspiring Teenage Entrepreneurs

Percent Interested in Starting a Business

Source: Milken Institute, 2003.

Copyright
©
2009 Pearson
Education, Inc. Publishing as
Prentice Hall

40

The Cultural Diversity of
Entrepreneurship


Young entrepreneurs


Women entrepreneurs


Source: National Federation of Women Business Owners, 2003.

0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
Number of firms
Number of
employees
Sales
42.3%

0.4%

4.4%

23.3%

12.3%

15.6%

Growth Rate

Category

Growth of Women
-
Owned Companies

1997 to 2006

Women-owned firms
All firms
The Cultural Diversity of
Entrepreneurship


Young entrepreneurs


Women entrepreneurs



Minority
-
owned enterprises


Immigrant entrepreneurs


Part
-
time entrepreneurs

43

The Cultural Diversity of
Entrepreneurship


Home
-
based business owners


Family business owners


Copreneurs


Corporate castoffs


Corporate dropouts


Retired baby Boomers

Source: Kauffman Foundation, Kauffman Index of Entrepreneurial Activity, 2006.

0.00%
0.05%
0.10%
0.15%
0.20%
0.25%
0.30%
0.35%
20-34
35-44
45-54
55-64
65 and older
0.26%

0.30%

0.29%

0.34%

0.21%

Percentage of Age Group Starting a Company

Age Group

Entrepreneurial Activity by Age Group

Source: Small Business Administration, 2006.

Construction,
12.81%

Manufacturing, 4.74%

Wholesale, 5.63%

Retail, 12.47%

Finance & Real Estate,
9.05%

Services, 49.77%

Other, 5.53%

Small Businesses by Industry

Contributions
of small
business

Small Businesses...


Make up 99.7% of all the 29.3 million
businesses in the U.S.


Employ 52% of the nation’s private sector
workforce


Pay 45% of total private payroll


Create more jobs than big businesses


1996 to 2006: Between 60% and 80% of all net
new jobs in the U.S.


Are leaders in offering training and
advancement opportunities to workers


Provide 67% of workers with their first jobs


Produce 51% of the nation’s private GDP


Account for 47% of business sales


Key role in innovation:


Produce 13X to 14X more patents per
employees than large companies

Small Businesses...

0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
New
1
2
3
4
5
6
7
8
9
10
100%

81%

65%

54%

46%

40%

36%

32%

29%

27%

25%

% of Small Firms Surviving

# of Years in Business

Small Business Survival Rate

Source: National Federation of Independent Businesses
Business Policy Guide
, 2003.

Putting
failtures

into
perspective

Copyright
©
2009 Pearson
Education, Inc. Publishing as
Prentice Hall

51

Putting Failure into Perspective


Median age of U.S. companies = 12 years


Entrepreneurs are
not

paralyzed by the
prospect of failure


Failure


a natural part of the creative
process


Successful entrepreneurs learn to fail
intelligently

How to avoid
the pitfalls

Copyright
©
2009 Pearson
Education, Inc. Publishing as
Prentice Hall

53

Avoiding the Pitfalls of

Small Business Failure


Know your business in depth


Prepare a business plan


Manage financial resources


Understand financial statements

Copyright
©
2009 Pearson
Education, Inc. Publishing as
Prentice Hall

54

Avoiding the Pitfalls of

Small Business Failure


Learn to manage people
effectively


Set your business apart from the
competition


Maintain a positive attitude