INTRODUCTION

This web site contains the general instructions and lessons for BMT 170 -- Small Business Operations.

The basic objective of this course is to provide you with an overview of small-business management and the successful operation of a small business. The focus of the course will be on the concepts, as well as the “numbers,” pertaining to managing your small business.

This course provides in-depth coverage of the management process, emphasizing twenty-three key areas that make up a complete program for running a small business. The goal is to lead you through the many areas that a small-business manager must know and to prepare you to select and operate a small business. The course provides a balanced look at all the major aspects of small-business operation, including finance, personnel, sales, and success and failure factors.

Small Business Operations should benefit you whether you are going to start a small business of your own or are a manager in an existing company. The principles of the process and information you will learn are equally applicable to entrepreneurs and to corporate managers.

REQUIRED TEXTBOOK

Longenecker, Justin G., Carlos W. Moore, J. William Petty, and Leslie E. Palich, Small Business Management, 13th ed., Thomson South-Western Publishing, 2006

Note: If you do not use the book order enclosed with this course guide, be sure you order the correct edition. Do not purchase the 12th or any earlier edition.

This text has an enduring popularity because of its clear writing style and practical emphasis on the essential issues of operating a small business. It is a “hands-on” text that puts you in the driver’s seat for operating a small business firm.

The 13th edition has been revised significantly from its predecessor, while retaining its thrust as a comprehensive single source and lead textbook on small business management. The text is focused on helping you develop skills you can really use. As you learn important concepts, you will also learn how to create a business plan for your operation. A complete, 15-page Sample Business Plan is included in the text appendix that illustrates the key elements that must be included in a good business plan.

The text is introductory in that it assumes no previous business knowledge. However, it presents challenging material in language that you should be able to understand. The concepts are presented in direct, practical terms. It is not intended as a book for academic theoreticians. The Glossary in the text is a useful reference for understanding the terms you will encounter in the text.

Another fine feature in this edition is six pages (pages 593-599) of useful Web links. If you have Internet access, visit the sites for several of the small businesses listed to see how they are structured.

I am very pleased to see that the authors have included a new chapter on business integrity and the benefits of acting ethically. Employees, customers, suppliers, and stockholders of several of the largest U.S. companies have been harmed because of a few executives who did not practice the standards presented in Chapter 2. This is the most important chapter in the book. We bring our integrity and ethical standards to our work. These are inside of us. The techniques and procedures we can learn on the job or at our businesses. “Doing the Right Thing,” presented on page 27 of the textbook, gives you an approach you can use.

The text is designed to guide you step-by-step through the many facets of managing a small business. Each lesson covers several chapters of the text and begins with the Chapter Objectives, Chapter Review, and Questions. You will find true/false and multiple-choice questions covering all the major topics from each chapter at the end of the lessons.

In keeping with the structure of this course as it is taught in the classroom, we will cover all the chapters in the text. You will do all the same exercises as the classroom students.

 

LESSON ASSIGNMENTS

In each lesson part, you will find objectives for each text chapter covered in that part. Upon completing each part, I recommend that you review these objectives to make sure that you have indeed gained the information that achieves the objectives. Each lesson part is designed to enable you to master a particular part of the management process. The reading assignments in the text will give you a good foundation of information and insight to guide you through the process.

I recommend that you first read through the lesson part, including the assignment questions, then the appropriate chapters in your text without taking notes or trying to remember specific information. Get a general idea of the topic being presented. Next re-read the text chapter(s) and the course guide–taking notes and underlining key concepts. Finally, complete the required “Submitted Assignment.” Following this procedure not only will prepare you for the lesson assignments and examinations but also will give you confidence in your understanding of small-business management.

The Submitted Assignment section of each lesson part enables you to demonstrate both your comprehension of the material in the part and your ability to apply the information to actual business-world situations.

The importance of good writing skills cannot be stressed enough. Neatness, and the use of proper grammar and spelling all reflect directly on the person doing the lesson. Your writing style creates an image not only for your instructor, but also for your supervisor and other employees in your work situation.

Note: If you are doing the optional, extra-credit Web-based assignments, be aware that Web pages may change without notice. The Web sites listed in this course were active as of the time the course was created, but if you find that it is no longer available, you can skip that part of the assignment. (You may want to notify me of “dead links” if you find them.)