BMA 451

Small Business Management

Fall, 2000

Instructor: Dr. Fred L. Fry

Office: Baker 307

Phone: 677-2310

e-mail: ffry@bradley.edu

Home page: www.bradley.edu/~ffry

Office Hours: MW 9:00-11:00

TT 1:30- 2:30

or by appointment

Text: Longenecker, Moore, and Petty

Owning one's own business is, to some, the American dream. Operating that business is challenging, but it can be rewarding both in a financial and
non-financial sense. On the one hand, running a business requires long hours, often with no vacation, and with high amounts of stress. On the other,
owning one's own business gives flexibility and autonomy not available when working for a large company. This class is designed to make operating a
small business effective and less stressful.

This class focuses upon the tasks associated with running a business after it is launched. We will spend a small amount of time discussing the launch of
a business, but the primary emphasis is on its day-to-day operation. As such we will study the accounting/financial aspects of the business, how to locate
the business, how to market its goods and services, how to manage the human resources, and other operational management aspects of the business.
We will also spend time discussing the unique issues facing family businesses.

We will use a combination of textbook readings, class discussion, and guest speakers to maximize learning. The course will be applications oriented,
with significant amounts of class discussion regarding how business topics apply specifically to small business management. 

OUTLINE

DATE TOPIC CHAPTER 

Aug 24 Introduction --- 

29 The Nature of Entrepreneurship Ch 1

31 Starting vs. Buying a Business Ch 4

Sep 5 Franchising Ch 3

7 Managing Family Businesses Ch 2

12 Family Business Panel --

14 Developing a Business Plan Ch 6

19 Small Business Strategies Ch 5

21 Organizing the Business Ch 8

26 Financing the Business Ch 11 

28 Exam 1

Oct 3 Small Business and E-commerce -- 

5 Site Location Ch 9

10 FALL BREAK

12 Developing the Marketing Plan Ch 7

17 Customer Loyalty and Product Strategy Ch 12

19 Pricing and Credit Strategies Ch 13

24 Promotional Strategies Ch 14

26 International Marketing Ch 15

31 Social Responsibility Ch 16

Nov 2 Exam 2

7 Managing the Growing Business Ch 17

9 Managing Human Resources Ch 18

14 Managing Operations and Quality Ch 19

16 Accounting & Finance Ch 10, 21

21 Managing the Firm's Assets Ch 22

23 THANKSGIVING

28 Risk and Insurance Ch 23

30 Exit Strategies Ch 24

Dec 5 Conclusion and Review --

11 Final Exam 9:00 a.m.

GRADING

3 Exams @ 100 pts. each 300

Class Discussion 50

Research Paper 100

TOTAL 450 



Exams

Each exam will be 100 points and will consist of a combination of approximately 60 multiple-choice questions and 40 points of essay questions. The
exams are designed to test both your comprehension of specific factual information and your ability to apply your knowledge to specific situations. The
tests cover both text readings and lectures. The exams are not cumulative.

Class Discussion

Class discussion is quite appropriate in a course of this nature. The text material and other information provide excellent topics for discussion. Many of
you have relatives who own their own business and some of you have owned or worked in small businesses. Class discussion does two things. First, it
makes the class more interesting. Second, it gives me an additional measure of what you really know about the course. I encourage you to get involved
early.

Research Paper

A course is rarely able to give adequate depth of information on every topic covered. The research paper is an opportunity to gain that depth on a topic
of interest to you. Each paper should be 12-15 pages length (double-space, one-inch margins) not including title page and references. Cited material
should primarily come from research journals such as Journal of Small Business Management, Journal of Small Business Strategy, Entrepreneurship
Theory and Practice, Family Business Review, or the Frontiers of Entrepreneurship Research (www.babson.edu/entrep/fer). A limited percentage of
information can come from popular magazines such as INC., Entrepreneur Magazine, Business Week, and other business magazines. Pick a topic of interest to you and
let me approve it by the third week of class. The report is due no later than November 21. You can submit the report either in hard copy, disk, or e-mail using
Microsoft Word or PDF file. I recommend a specific topic such as "Managing Succession in Family Businesses" rather than a general topic such as "Managing Family
Businesses." Any acceptable reference system is OK, as long as you give me the complete reference. If you have trouble finding journals in the library or on the web,
feel free to come to my office and peruse my journals.