OBA432 Micro and Small Business Management Syllabus:
OBA432 Micro and Small Business Management Syllabus – Anna University PG Syllabus Regulation 2021
COURSE OBJECTIVES
To familiarize students with the theory and practice of small business management.
To learn the legal issues faced by small business and how they impact operations.
UNIT I INTRODUCTION TO SMALL BUSINESS
Creation, Innovation, entrepreneurship and small business – Defining Small Business –Role of Owner – Manager – government policy towards small business sector –elements of entrepreneurship –evolution of entrepreneurship –Types of Entrepreneurship – social, civic, corporate – Business life cycle – barriers and triggers to new venture creation – process to assist start ups – small business and family business.
UNIT II CREENING THE BUSINESS OPPORTUNITY AND FORMULATING THE BUSINESS PLAN
Concepts of opportunity recognition; Key factors leading to new venture failure; New venture screening process; Applying new venture screening process to the early stage small firm Role planning in small business – importance of strategy formulation – management skills for small business creation and development.
UNIT III BUILDING THE RIGHT TEAM AND MARKETING STRATEGY
Management and Leadership – employee assessments – Tuckman’s stages of group development – The entrepreneurial process model – Delegation and team building – Comparison of HR management in small and large firms – Importance of coaching and how to apply a coaching model. Marketing within the small business – success strategies for small business marketing – customer delight and business generating systems, – market research, – assessing market performance- sales management and strategy – the marketing mix and marketing strategy.
UNIT IV FINANCING SMALL BUSINESS
Main sources of entrepreneurial capital; Nature of ‘bootstrap’ financing – Difference between cash and profit – Nature of bank financing and equity financing – Funding-equity gap for small firms. Importance of working capital cycle – Calculation of break-even point – Power of gross profit margin Pricing for profit – Credit policy issues and relating these to cash flow management and profitability.
UNIT V VALUING SMALL BUSINESS AND CRISIS MANAGEMENT
Causes of small business failure – Danger signals of impending trouble – Characteristics of poorly performing firms – Turnaround strategies – Concept of business valuation – Different valuation measurements – Nature of goodwill and how to measure it – Advantages and disadvantages of buying an established small firm – Process of preparing a business for sale.
COURSE OUTCOMES
CO1. Familiarise the students with the concept of small business
CO2. In depth knowledge on small business opportunities and challenges
CO3. Ability to devise plans for small business by building the right skills and marketing strategies
CO4. Identify the funding source for small start ups
CO5. Business evaluation for buying and selling of small firms
REFERENCES
1. Hankinson,A.(2000). “The key factors in the profile of small firm owner-managers that influence business performance. The South Coast Small Firms Survey, 1997-2000.” Industrial and Commercial Training 32(3):94-98.
2. Parker,R.(2000). “Small is not necessarily beautiful: An evaluation of policy support for small and medium-sized enterprise in Australia.” Australian Journal of Political Science 35(2):239-253.
3. Journal articles on SME’s.