hey so there is 3 assignments in total to be done
1 Unit outline BUS203 SMALL BUSINESS MANAGEMENT SEMESTER 2, 2021 Unit Outline Unit Code Name of unit BUS203 Small Business Management Unit description In this unit students will develop an understanding of the management of small businesses and their sustainability and growth. Initially considering the role of small business in the economy, the unit then explores the processes involved in starting a small business, managing a small business, and dealing with challenges and the process of growth, including alternative modes of growth. The unit also considers types of small businesses, their advantages, and particular challenges. Students will examine case studies of Australian small businesses applying relevant theory. 1.1 Administrative details Associated higher education awards Duration Level Academic Staff Bachelor of Entrepreneurship and Innovation Bachelor of Accounting One Semester 1 Lecturer and Unit Coordinator: Dr Fazle Rabbi Email:
[email protected] Course Coordinator for Entrepreneurship and Innovation: Dr Mahfuz Ashraf Email:
[email protected] Course Coordinator for Accounting: Dr Asal Al-Odat Email:
[email protected] 1.2 Core or elective unit Core subject ☒ Elective subject Other (specify below) 1.3 Unit weighting Unit credit points Total course credit points 10 240 SECTION 1: GENERAL INFORMATION mailto:
[email protected] mailto:
[email protected] mailto:
[email protected] 2 Unit outline 1.4 Student workload Number of class hours per week Number of personal study hours per week Total workload hours per week 3 7 10 1.5 Delivery mode Mode Details ☒ Face to face On site study supported by secure access to the Learning Management System. ☒ Full-time Full-time study involves 4 units per semester. ☐ Part-time Part-time study involves 1 to 3 units per semester. 1.6 Work-integrated learning activity Not Applicable Not Applicable 1.7 Prerequisites and corequisites ☒ Yes ☐ No If yes, provide details of the prerequisite or co-requisite requirements below. BUS106 Introduction to Marketing 1.8 Other resource requirements ☐ Yes ☒ No If yes, provide details of the prerequisite or co-requisite requirements below. 2.1 Unit Learning Outcomes (ULO) On successful completion of this unit students will be able to: ULO1. Describe the role of small business in the economy. ULO2. Account for the forms that small businesses may take, and the issues involved in each. ULO3. Outline and critically evaluate the challenges of running a small business. ULO4. Identify the stages of growth of small businesses. SECTION 2: ACADEMIC DETAILS 3 Unit outline 2.2 Topics included in the unit Week Topic Prescribed Reading Assessment Timing 1 Small Business in the Economy Stokes, D., & Wilson, N. (2017). Small business management and entrepreneurship, 7th Edition, Cengage Publication. Chapter 01 2 Entrepreneurship, the Entrepreneur, and the Owner-manager Stokes, D., & Wilson, N. (2017). Chapter 02 3 The Small Business and Entrepreneurial Environment Stokes, D., & Wilson, N. (2017). Chapter 03 4 Innovation and the Marketplace Stokes, D., & Wilson, N. (2017). Chapter 04 Assessment 1: Critical Analysis (Individual) 5 Information and help Stokes, D., & Wilson, N. (2017). Chapter 05 6 Business Planning Stokes, D., & Wilson, N. (2017). Chapter 06 7 Successful Small Business Strategies Stokes, D., & Wilson, N. (2017). Chapter 07 8 Start-Ups and Franchises Stokes, D., & Wilson, N. (2017). Chapter 08 Assessment 2: Business Regulation Analysis (Individual) 9 Buying an Existing Business Stokes, D., & Wilson, N. (2017). Chapter 09 10 Forming and Protecting a Business Stokes, D., & Wilson, N. (2017). Chapter 10 11 Management of Resources and Marketing Stokes, D., & Wilson, N. (2017). Chapter 11 & Chapter 12 Assessment 3: Case Study Analysis (Individual) 12 Revision Materials covered from Week 01 to Week 12. No Final Exam No Final Exam 2.3 Assessment Summary 4 Unit outline Type When assessed Weighting ULO cross reference Assessment 1: Critical Analysis (Individual) 750 words. Students will be expected to research and analyse the market for a proposed small business utilising the theory and principles presented in the class. The following should be included in the market study portion of your small business plan: • Industry Overview and Prospects: Size, growth rate, trends, and forecasts are all detailed information that describe the industry. • Client/Customer Profile: Who is your ideal client/customer? The demographics of the population you're targeting, such as age, gender, economic level, and lifestyle preferences, should be included in this data. This part should also contain information about the target market's size, buying potential, and motives, as well as how you plan to reach out to them. • Market Test Results: This section contains the findings of the market research you completed as part of your original market enquiry. The appendix should provide information about your testing procedure as well as supporting data. • Lead Time: The length of time it takes to complete an order after a consumer makes a purchase is referred to as lead time. This is where you'll share the results of your study on how long it'll take to process individual orders and high volume purchases, if relevant. • Competitor Analysis: Who are your competitors? What are the competition's advantages and disadvantages? What are the possible stumbling hurdles to your entry into the market? Week 4 25% ULO 1, 2, 3 & 4. Assessment 2: Business Regulation Analysis (Individual) 1500 words In Assessment 02, students must construct and describe a business structure for the proposed firm (in Assessment 01), taking into consideration regulatory and legal requirements as well as possible corporate development. Visit: https://business.gov.au/planning/business-structures-and-types/business- structures for further information regarding business structures. Students are needed to construct and define a business structure for the proposed firm, taking into consideration regulatory and legal requirements as well as future business development, using the material from the aforementioned link and the knowledge from lectures. (1500 words). The following major questions (but not limited to) should be addressed in your analysis: ➢ What is the government's motivation for acting to impose a specific structure of a business? (analysis of the issue) ➢ What goals does the government want to achieve through defining a particular business structure? (Actionable aims) ➢ What are the many courses of action that may be pursued to ensure that? (Create a list of viable choices) ➢ What are the predicted consequences (benefits and costs) of the various alternatives, and which one is the best? (Analysis of Impact) ➢ What are the features of the chosen choice, such as the effect on small businesses and competition? (provide a brief summary of the favoured choice) ➢ What steps will be taken to implement the selected option? (Strategy for Implementation) Week 8 35% ULOs 2,3 & 4 https://business.gov.au/planning/business-structures-and-types/business-structures https://business.gov.au/planning/business-structures-and-types/business-structures 5 Unit outline ➢ When (and how) will the government assess the favoured option's performance in achieving the goals? (Strategy for Evaluation) ➢ All regulations, whether financial and non-financial, have an influence on such business structure. Assessment 3: Regulatory Impact Analysis (Individual) 1500 Words. For this assessment students are required to conduct a full analysis of a proposed new small business in Australia considering the Regulatory impact analysis. The individual analysis will be guided by a series of key questions which will require them to consider business planning to assess the business for compliance with regulations and robust business planning. The following instructions would help you to prepare your Assessment 03: ❖ In assessment number three (03), you will create a final business proposal for the company you described in the previous two assessments. ❖ The emphasis of this final proposal should be on the legal requirements for establishing a company in Australia. ❖ Whatever legal requirements you discovered in Assessment 02 (the previous assessment), you must state here if you are prepared to meet those legal criteria in order to begin your business. ❖ You must analyse the potential effect of meeting those regulatory obligations on your business. How will this guarantee that you can do business securely in Australia, and how will this assist you in maintaining an effective and safe relationship with your other stakeholders, such as customers, suppliers, and investors? ❖ Please read the three relevant articles in Moodle under ‘Assessment 03 Related Materials' to get essential information that will assist you in properly preparing the assignment. Week 11 40% ULOs 1,2,3 & 4. 2.4 Prescribed and recommended reading Prescribed Texts Stokes, D., & Wilson, N. (2017). Small business management and entrepreneurship, 7th Edition, Cengage Publication. Recommended Readings Karaoulanis, A. (2020). Small Business Management: A Road Map for Survival During Crisis. Business Expert Press. English, J. (2012). How to organise & operate a small business in Australia. 11th Edition Allen & Unwin. Hatten, T. S. (2016). Small business management: Entrepreneurship and beyond. 10th Edition. Nelson Education. Mariotti, S., & Glackin, C. (2015). Entrepreneurship: Starting and operating a small business. 2nd Edition, Upper Saddle River, NJ: Pearson Prentice Hall. 2.5 Grade descriptions Grade Level /Quality of work Code Range 6 Unit outline High Distinction (outstanding performance) HD 85% and above Distinction (very high level of performance) D 75-84% Credit (high level of performance) C 65-74% Pass