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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:
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[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 required to analyse the market of a proposed small business and evaluate them using the theory and guidelines taught in the unit. The market analysis section of your small business plan should include the following: • Industry Description and Outlook: Detailed statistics that define the industry including size, growth rate, trends, and outlook. • Target Market: Who is your ideal client/customer? This data should include demographics on the group you are targeting including age, gender, income level, and lifestyle preferences. This section should also include data on the size of the target market, the purchase potential, and motivations of the audience, and how you intend to reach the market. • Market Test Results: This is where you include the results of the market research you conducted as part of your initial investigation into the market. Details about your testing process and supporting statistics should be included in the appendix. • Lead Time: Lead time is the amount of time it takes for an order to be fulfilled once a customer makes a purchase. This is where you provide information on the research you've completed on how long it will take to handle individual orders and large volume purchases, if applicable. • Competitive Analysis: Who is your competition? What are the strengths and weaknesses of the competition? What are the potential roadblocks preventing you from entering the market? Week 4 25% ULO 1, 2, 3 & 4. Assessment 2: Business Regulation Analysis (Individual) 1500 words Students are required to develop and outline a business structure for the proposed business, taking account of regulatory and legal requirements and potential business growth. Download the following case study: REGULATION AND SMALL BUSINESS GROWTH: CASE STUDIES FROM NORTH WEST ENGLAND BEIS Research. Web link: https://www.researchgate.net/publication/326629611_REGULATION_AND_SMALL_BUSINESS_GR OWTH_CASE_STUDIES_FROM_NORTH_WEST_ENGLAND_BEIS_Research_Paper_Number_11/citat ion/download Using the above case study, students are required to develop and outline a business structure for the proposed business, taking account of regulatory and legal requirements and potential business growth. (1500 words). Your analysis should aim to address the following key questions: • Why is the Government considering action? (problem analysis) • Which outcomes is the Government aiming to achieve? (objectives for action) • What are the possible different courses of action that could be taken? (identify feasible options) • What are the expected impacts (benefits and costs) of options and what is the preferred option? (impact analysis) • What are the characteristics of the preferred option, including small business and competition impacts? (summarise the preferred option) • How will the preferred option be put into place? (implementation plan) • When (and how) will the Government evaluate the effectiveness of the preferred option in meeting the objectives? (evaluation strategy) • All regulation has an impact on society, both financial and non-financial. • Legislation should be viewed as a last resort when all alternative options are ineffective, inefficient and/or have greater impacts on society. What are those impacts? Week 8 35% ULOs 2,3 & 4 Assessment 3: Case Study 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. Please read Australian Government Guide to Regulatory impact analysis before writing about your proposed new small business in Australia: https://www.pmc.gov.au/sites/default/files/publications/australian-government-guide-to- regulatory-impact-analysis.pdf Week 11 40% ULOs 1,2,3 & 4. https://www.researchgate.net/publication/326629611_REGULATION_AND_SMALL_BUSINESS_GROWTH_CASE_STUDIES_FROM_NORTH_WEST_ENGLAND_BEIS_Research_Paper_Number_11/citation/download https://www.researchgate.net/publication/326629611_REGULATION_AND_SMALL_BUSINESS_GROWTH_CASE_STUDIES_FROM_NORTH_WEST_ENGLAND_BEIS_Research_Paper_Number_11/citation/download https://www.researchgate.net/publication/326629611_REGULATION_AND_SMALL_BUSINESS_GROWTH_CASE_STUDIES_FROM_NORTH_WEST_ENGLAND_BEIS_Research_Paper_Number_11/citation/download https://www.pmc.gov.au/sites/default/files/publications/australian-government-guide-to-regulatory-impact-analysis.pdf https://www.pmc.gov.au/sites/default/files/publications/australian-government-guide-to-regulatory-impact-analysis.pdf 5 Unit outline 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 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 (competent level of performance) P 50-64% Fail (outright) (attempted all assessments but did not achieve 50%) F below 50% Fail Non-Submission (did not attempt all assessments and did not achieve 50%) FNS below 50% 2.6 Academic Misconduct – plagiarism, collusion, and cheating Crown Institute of Higher Education upholds the principle that academic integrity relies on the application of honesty in all scholarly endeavour. Students of CIHE will conduct themselves in their academic studies honestly and ethically and are expected to carefully acknowledge the work of others in all their academic activities. 2.6.1 Types of academic misconduct Academic misconduct involves cheating, collusion, plagiarism, or any other conduct that deliberately or inadvertently claims ownership of an idea or concept without acknowledging the source of the information. This includes any form of activity that negates the academic integrity