New Venture Development & Management

Overview

Course description

This course provides students with an introduction to the theoretical and practical aspects of the start-up and management of a new venture. Topics include: Business plan development, purchasing a business, location analysis and leasing, evaluating a business opportunity, financing a business, marketing, financial management and systems, personnel management, customer relations, leadership, managing conflict and communications. The main emphasis will be on new venture management.

Course content

Role of Small Business in Canada
The Small Business Decision
- personal capabilities evaluation
- comprehensive case
Evaluation of Business Opportunity
- non-quantitative assessment
- steps in quantitative assessment
- feasibility analysis
- comprehensive case
Organizing a Business
- business plan components
- forms of business ownership/legal requirements
- small business plan checklist
- applied example
Buying a Business
- sourcing and evaluation
- buying checklist
Franchising
- potential franchisee checklist
- comprehensive case
Financing the Small Business
- equity and debt financing
- government programs
- comprehensive case
Marketing Management
- management process recap
- marketing plan
- marketing checklist
Financial Management
- fundamentals of small business accounting
- computerization of MIS
- budgets
- financial planning and operations control
- comprehensive case
Operations Management
- layouts for retail firms
- purchasing and controlling inventories
- total quality management
- comprehensive case
Personnel Management
Tax Management
Managing Growth
- comprehensive case
Managing the Transfer of Ownership
- transfer characteristics
- issues relating to family and non-family persons
- information regarding closure

Learning activities

Lectures, seminar discussions, case study analysis, role playing, guest lectures on industry-specific subjects.

Means of assessment

Midterm Examination	20%
Group Project	15%
Business Plan	25%
Final Examination	30%
Participation	10%
	100%

Learning outcomes

Business Start-up

The student will be able to:

develop pro-forma financial statements using computerized spreadsheets
determine market potential
develop a business plan
describe the legal requirements to start a small business
evaluate a franchise or other small business opportunity as a possible acquisition
describe the key factors in selecting a retail location and layout
identify sources of financing.

Small Business Management

The student will be able to:

develop a marketing plan
develop a promotional campaign
develop a budget
describe the elements of systems relating to accounting, payroll, inventory control and cash handling
demonstrate an understanding of financial control techniques
describe the principles and application of TQM (ie: Total Quality Management)
describe and demonstrate the methods of hiring and training of employees
describe and illustrate principles of effective personnel management relative to leadership styles
explain key tax management principles that apply to small business
describe the importance of managing growth and the problems that can accompany growth and success
explain the important principles and considerations of ownership transfer to others - family or others outside the family.

Textbook materials

Textbooks and Materials to be Purchased by Students

Balderson, Wesley D. Canadian Entrepreneurship and Small Business Management, Latest Ed., McGraw-Hill Ryerson

Personal computer access with word processing and spreadsheet capability.

Requisites

Prerequisites

No prerequisite courses.

Corequisites

No corequisite courses.

Equivalencies

No equivalent courses.

Course Guidelines

Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester / year of the course, consider the previous version as the applicable version.

January 2009 (Current)