Syllabus ENT 5535: Small Business Management & Entrepreneurship Bloch 104, M 7:00-9:45

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1 Syllabus ENT 5535: Small Business Management & Entrepreneurship Bloch 104, M 7:00-9:45 COURSE DESCRIPTION This course exposes students to the objectives, challenges, and requirements for effectively managing the small to mid-sized business. The course assumes the venture in question is in existence, and therefore spends little or no time with startup related issues. Key topics include the key decisions required of the entrepreneur/manager, the driving forces of the small business, opportunity identification, using the opportunity to build value, planning, marketing and team building. INSTRUCTOR Greg Storm, PhD, Phone: gregstorm@mail.umkc.edu. COURSE OBJECTIVES This course is designed to help students understand and operate in the environment of the small to mid-sized business. Students who complete this course will be able to: 1. Develop a business strategy that leverages the unique aspects of the business, the opportunity it is pursuing and the businesses position in the market. 2. Develop a business plan and model that supports the strategy. 3. Understand the financial issues that are most important to small to mid-sized businesses. 4. Understand the components of a marketing plan that successfully presents the venture s products/services to the market. 5. Identify the factors that influence selecting a location. 6. Develop supply chain and inventory control plans and processes. 7. Identify the important issues brought about by the need to hire employees. 8. Identify the issues associated with succession planning, and develop plans to address them. 9. Understand many of the important ethical and social responsibility issues that confront the small business manager.

2 REQUIRED COURSE MATERIALS: We will use the following text. Effective Small Business Management: An Entrepreneurial Approach by Norman Scarborough. Published by Prentice Hall, Available from Amazon.com and the UMKC bookstore. We will also employ the LINKS enterprise management simulation. Information is available at Students should download and review the Enterprise Management simulation operations manual before the first simulation cycle. Finally, we will read several academic research papers throughout the course. These papers are either one of the latest or the seminal paper on the relevant research topic to reinforce the text at selected times. Complete citations for the articles are included in the syllabus, students should download them from the UMKC library (electronically) and read them in preparation for class discussion. COURSE OUTLINE Table 1 contains the course outline; including class topics, assigned readings and examination dates. TEACHING METHODOLOGY This course utilizes lectures, videos, class discussion of key concepts, student presentations, and simulation cycles. Classes are designed to provide students with an introduction to key elements. The simulations are intended to give students an opportunity to practice some of the more important topics discussed, although not all lecture topics are covered in the simulation.

3 GRADING Class participation, two exams, simulation game results, and a final presentation will determine the student s course grade. CLASS PARTICIPATION This is a business course. Business is an interactive process, wherein exchanges of information between you and your customer are critical sources of learning. An important aspect of learning in this course is to practice the skills you will need in the business world to articulate yourself, receive feedback and respond thoughtfully (i.e. social interaction). Therefore a potentially significant portion of your grade will be determined by your level of interaction with other course participants (myself and your classmates) through active engagement in the course lectures and presentations. The examinations, simulation results and final presentations will determine your numerical grade, I will use your level of class participation to adjust that numerical grade point average by up to one letter grade (i.e. raise or lower your overall class score, therefore making class participation worth up to 10% of your final course grade). Students can talk with me at any point during the course to receive feedback on this aspect of their progress. EXAMS You will have two exams. Each exam is worth 30% of your total score. The final exam will be comprehensive. SIMULATION GAME RESULTS Final simulation results will count for 30% of your course grade. The final results will be graded on a balanced scorecard that will be explained in-depth at the beginning of the simulation. In short, PROFIT matters effort, strategy, and good intentions are important, but financial position at the end of the simulation will be the most important aspect of this scorecard. Simulation grades will be curved, based on the linear ordering of team results. FINAL PRESENTATIONS Each team will make one presentation during the last week of the course, which will be worth 10% of your numerical grade. The presentation will summarize and evaluate the overall plan formulated and executed during the simulation.

4 MISCELANNEOUS Attendance and Make-Up Policies Students are expected to attend class. If for some reason (e.g., illness) a student cannot attend class, the student should notify the instructor by . For each unexcused absence, the final grade will be reduced by five percent. If for some reason (e.g., illness) a student cannot take an exam on the scheduled day and time, the student should notify the instructor by . If the absence is unexcused, the exam cannot be made up. If the absence is excused, the student is responsible for contacting the instructor and arranging a make-up exam. Academic Honesty A student enrolling in any UMKC course is expected to exhibit high standards of academic honesty. In the case of academic misconduct, I will assess the affected work and report the incident to Bloch School administration according to the guidelines printed in the University catalog. See student conduct policies at Cheating and plagiarism will not be tolerated. The tests are to be taken without help or assistance. Persons observed cheating on tests will receive a grade of zero for the exam. Similarly, plagiarism of assignments, projects, and papers is unacceptable, and a grade of zero will be assigned on any such item where plagiarism has been detected. Weather If the university cancels classes for weather-related meetings, our class will be cancelled as well. In this case, the class will not be made up. In addition, if there is snow or ice on the ground, please check your before coming to class to make sure that I have not cancelled the class. If the university does not cancel classes, but I have to do so, we will make the class up on an alternative day. Disabled Student Services UMKC endeavors to make all activities, programs and services accessible to students with disabilities. Scott Laurent (laurentr@umkc.edu, ) is the Campus Coordinator for Disabled Student Services and he is available to arrange for reasonable accommodations. If you need accommodations, it is important that you contact the Coordinator as soon as possible to arrange for providing appropriate documentation and the prescribing of reasonable accommodations in the classroom and for exams. Speech and hearing impaired use Relay Missouri, (TT) or (Voice).

5 Table 1 Course Outline The following schedule is tentative and may be modified as the class progresses. The instructor will inform students of any changes; however, it is the student s responsibility to keep up with any modifications that are made throughout the semester. Week Topics Text Assignment Additional Reading Materials (Chapter) 28-Jan Overview & Introduction 1 4-Feb Strategic Management & Ownership 2 & 3 Barney, J., Wright, M., and Ketchen, D. J., Jr The resource-based view of the firm: ten years after Journal of Management, 27(6): Eisenhardt, K.M. & Martin, J.A Dynamic capabilities: What are they? Strategic Management Journal, 21(10-11): Porter, M.E Strategy and the Internet. Harvard Business Review: 79(3): Porter, M. E. 1996, What is Strategy?, Harvard Business Review. Nov-Dec: Feb Franchising and/or Buying a Business 4 & 5 Eisenhardt & Schoonhoven Organizational Growth: Linking Founding Team, Strategy. Environment, and Growth among U.S. Semiconductor Ventures Administrative Science Quarterly

6 18-Feb Business Planning/Modeling & Cash Flow 6 & 8 Chesbourgh & Rosenbloom, Morris, Schindehutte, & Allen The entrepreneur s business model: toward a unified perspective. Journal of Business Research Johnson, Christensen & Kagermann %20k%FCl%F6nsz%E1m.pdf#page=57 25-Feb Pricing, Advertising & Promotion 9, 10 & 11 4-Mar Global Marketing, E-Commerce & 12, 13, 16 Location 11-Mar Purchasing & Inventory 17 & 18 Simulation Operations Manual Management/ Simulation Introduction/Cycle 1 assigned 18-Mar Mid-term Exam & Simulation Cycle 1 Review/Cycle 2 assigned 25-Mar SPRING BREAK 1-Apr Selling/Simulation Cycle 2 Simulation President s Review review/cycle 3 assigned 8-Apr Debt/Equity Financing & Cycle 3 review/cycle 4 assigned 14 & 15

7 15-Apr Staffing and Leading /Cycle 4 review/cycle 5 assigned 19 Sturman, Michael C Searching for the Inverted U-Shaped Relationship Between Time and Performance: Meta-Analyses of the Experience/Performance, Tenure/Performance, and Age/Performance Relationships. Journal of Management, 29(5): Delmar, W & Shane S Does Experience Matter? The effect of founding team experience on the survival and sales of newly founded ventures. Strategic Organization 4(3) Apr Succession/Cycle 5 review/cycle 6 assigned 29-Apr Ethics & Legal Environment/Cycle 6 review Song, Song & Storm Founding Team Capabilities and New Venture Performance: The Mediating Role of Strategic Positional Advantages. Entrepreneurship Theory and Practice. Published online. 20 Handler Succession in Family Business: A Review of Research. Family Business Review 7(2) & 22 Sims & Brinkmann Enron Ethics (Or: Culture Matters More than Codes) Journal of Business Ethics May 13-May Final Simulation Presentations Final Examination Spector HRM at Enron: The Unindicted Co-conspirator. Organizational Dynamics 32(2)