COURSE INFORMATION Course Title: SMALL BUSINESS MANAGEMENT AND ENTREPRENEURSHIP

Code	Course Type	Regular Semester	Theory	Practice	Lab	Credits	ECTS
BUS 423	B	1	3	0	0	3	7.5

Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature)	Assoc.Prof.Dr. Alba Kruja akruja@epoka.edu.al
Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	Assoc.Prof.Dr. Alba Kruja akruja@epoka.edu.al , Wednesday 14:00-16:00
Second Course Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	NA
Language:	English
Compulsory/Elective:	Compulsory
Study program: (the study for which this course is offered)	Master of Science in Business Administration
Classroom and Meeting Time:	E 211 Monday 18:00 - 20:45
Teaching Assistant(s) and Office Hours:	NA
Code of Ethics:	Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline"
Attendance Requirement:	yes
Course Description:	This integrative management course is designed to communicate the academic principles of business management applicable to solving of problems of small size businesses and assist in their development. This course will provide a background in the forms of business, the development of business plans and systems integration, venture capital, accounting, procurement, promotion, financing, distribution and negotiations for initial organization, and operation and expansion of the firm. By linking theory and practice the course aims to provide students an entrepreneurial perspective and a hands-on experience in the development of new business ventures.
Course Objectives:	To expand the concepts of entrepreneurship, innovation to the new venture foundation process. To enable students to explore an idea and investigate whether it can be turned into a viable business opportunity and prepare a business plan.

BASIC CONCEPTS OF THE COURSE

1	Entrepreneurship is the process by which individuals pursue opportunities without regard to resources they currently control.
2	Survival businesses—provides its owner just enough money to put food on the table and pay bills (handyman, part-time childcare)
3	Lifestyle businesses—provides its owner the opportunity to pursue a certain lifestyle and make a living at it (clothing boutique, personal trainer)
4	Managed Growth businesses—employs 10 or more people, may have several outlets, and may be introducing new products or services to the market (regional restaurant chain, multi-unit franchise)
5	Aggressive Growth businesses—bringing new products and services to the market and has aggressive growth plans (computer software, medical equipment, national restaurant chain)
6	A business model is a firm’s plan or recipe for how it creates, delivers, and captures value for its stakeholders. The proper time to develop a business model is following the feasibility analysis stage and prior to fleshing out the operational details of the company. A firm’s business model is integral to its ability to succeed both in the short and long term.
7	Feasibility analysis is the process of determining whether a business idea is viable. It is the preliminary evaluation of a business idea, conducted for the purpose of determining whether the idea is worth pursuing.
8	An industry is a group of firms producing a similar product or service, such as music, Pilates and Yoga studios, and solar panels. Industry Analysis is business research that focuses on the potential of an industry.
9	An opportunity is a favorable set of circumstances that creates a need for a new product, service, or business.
10	The marketing plan focuses on how the business will market and sell its product or service. Items to include in this section: Overall marketing strategy. Product, price, promotions, and distribution. Sales process (or cycle). Sales tactics.

COURSE OUTLINE

Week	Topics
1	Introduction & Overview of Course Syllabus - Ch. 1 - We define entrepreneurship and discuss why some people decide to become entrepreneurs. We then look at successful entrepreneurs’ characteristics, the common myths surrounding entrepreneurship, the different types of start-up firms, and the changing demographics of entrepreneurs in the United States and in nations throughout the world. We then examine entrepreneurship’s importance, including the economic and social impact of new firms as well as the importance of entrepreneurial firms to larger businesses. To close this chapter, we introduce you to the entrepreneurial process. This process, which we believe is the foundation for successfully launching a start-up firm, is the framework we use to present the book’s materials to you.
2	Recognizing Opportunities & Generating Ideas - Ch. 2 - We discuss the importance of understanding the difference between ideas and opportunities. While ideas are interesting and can intrigue us as possibilities, not every idea is in fact the source of an opportunity for an entrepreneur to pursue. In addition to describing the differences between ideas and opportunities, this chapter also discusses approaches entrepreneurs use to spot opportunities as well as factors or conditions in the external environment that may result in opportunities. - Pp. 41-75
3	Industry and Market Analysis - Ch. 5 - In the first section we considers industry analysis, which is business research that focuses on the potential of an industry. An industry is a group of firms producing a similar product or service, such as music, fitness drinks, or electronic games. Once it is determined that a new venture is feasible in regard to the industry and the target market in which it will compete, a more in-depth analysis is needed to learn the ins and outs of the industry the firm plans to enter. This analysis helps a firm determine if the niche or target markets it identified during its feasibility analysis are accessible and which ones represent the best point of entry for the new firm. We focus on competitor analysis in the second section of the chapter. A competitor analysis is a detailed evaluation of a firm’s competitors. Once a firm decides to enter an industry and chooses a market in which to compete, it must gain an understanding of its competitive environment. We’ll look at how a firm identifies its competition and the importance of completing a competitive analysis grid.- Pp. 147-177
4	Design Thinking - Ch. 3 - We’ll discuss the importance of feasibility analysis. Failure to conduct a feasibility analysis can result in disappointing outcomes, as illustrated in this chapter’s “What Went Wrong?” feature (which deals with the failure of many eBay drop-off stores). - Pp. 77 - 109
5	Building Business Models - Ch. 6- We introduces the business model and explains why it’s important for a new venture to develop a business model early in its life. In everyday language, a model is a plan that’s used to make or describe something. More formally, a business model is a firm’s plan or diagram for how it competes, uses its resources, structures its relationships, interfaces with customers, and creates value to sustain itself on the basis of the profits it earns.1 As you’ll see later in this chapter, a successful business model has four components. - Pp.179-209
6	Sustainability and Sustainable Development Goals - Development that meets the needs of the present without compromising the ability of future generations to meet their own needs” the globally accepted definition adopted in 1987 at the World Commission on Environment and Development In other words, Sustainable Development is the criteria for achieving social and economic progress in ways that will not exhaust the earth’s finite resources and not exploit or impoverish one grouping of people for the enrichment of another. https://www.undp.org/sustainable-development-goals?utm_source=EN&utm_medium=GSR&utm_content=US_UNDP_PaidSearch_Brand_English&utm_campaign=CENTRAL&c_src=CENTRAL&c_src2=GSR&gclid=CjwKCAjw8JKbBhBYEiwAs3sxNwylwx7qdFRuvUH5G-cW8VfkoFZbUVkho-4qpxQ5SZuSyxwc2mReYRoCl4wQAvD_BwE
7	Testing & Experimenting with New Ideas - Ch. 4 - We discuss the importance of writing a business plan. Although some new ventures simply “wing it” and start doing business without the benefit of formal planning, it is hard to find an expert who doesn’t recommend preparing a business plan. A business plan is a written narrative, typically 25 to 35 pages long, that describes what a new business intends to accomplish and how it intends to accomplish it. For most new ventures, the business plan is a dual-purpose document used both inside and outside the firm. Inside the firm, the plan helps the company develop a “road map” to follow to execute its strategies and plans. Outside the firm, it introduces potential investors and other stakeholders to the business opportunity the firm is pursuing and how it plans to pursue it. - Pp. 110 - 145
8	Planning for Entrepreneurs - Ch. 11- We’ll look at the marketing challenges confronting entrepreneurial firms. Marketing is a broad subject, and there are many books dedicated to marketing and its subfields. However, in this chapter, we zero in on the marketing challenges that are most pressing for young entrepreneurial firms. The reason for doing this is that marketing is an essential component to the success of a start-up firm. - Pp. 357-391
9	Midterm Project
10	Revenue Modelling - Ch10&11 - pp. 293-372 - Student learning outcomes  Identify the key activities needed to launch and operate different sorts of business  Prepare Gantt charts and undertake critical path analysis  Undertake a risk management process that identifies, assesses, mitigates and monitors the risks faced by business  Understand how risk might be reduced through networks and partnering, financial and legal structures and appropriate approaches to financing the venture  Understand the importance of keeping contribution margins high and fixed costs low  Identify the critical success factors and strategic options for your business
11	Financial Modelling - Ch. 8- we’ll look at how new ventures manage their finances and assess their financial strength and viability. For the purposes of completeness, we’ll look at how both existing firms and entrepreneurial ventures accomplish these tasks. First, we’ll consider general financial management and discuss the financial objectives of a firm and the steps involved in the financial management process. Financial management deals with two activities: raising money and managing a company’s finances in a way that achieves the highest rate of return. - Pp. 253 - 287
12	Anticipating Failure - Ch. 10 - Start-ups often have difficulty raising money because they are unknown and untested. Founders must frequently use their own money, try to secure grants, or go to friends and family for help. This effort is often a grueling endeavor. Many entrepreneurs hear “no” multiple times before they are able to obtain funding for their venture. In this chapter, we focus on the process of getting financing or funding. We begin by discussing why firms raise capital. We follow this with a description of personal financing and the importance of personal funds, capital from friends and family, and bootstrapping in the early life of a firm. We then turn to the different forms of equity, debt, and creative financing available to entrepreneurial ventures. We also emphasize the importance of preparing to secure these types of financing. - Pp. 319 - 353
13	Pitching & Storytelling
14	Project Presentations

Prerequisite(s):	NA
Textbook(s):	Entrepreneurship and Small Business: Star-up, Growth and Maturity, 5th edition, 2022, by Paul Burns, Red Globe Press Entrepreneurship: The Practice and Mindset, Third Edition, 2023 by Heidi M. Neck, Christopher P. Neck, & Emma L. Murray, SAGE Publications, Inc
Additional Literature:	Barringer B., Ireland R., Entrepreneurship: Successfully Launching New Ventures, 4th Edition, Pearson Barringer B., Preparing Effective Business Plans: An Entrepreneurial Approach,, Pearson
Laboratory Work:	NA
Computer Usage:	NA
Others:	No

COURSE LEARNING OUTCOMES

1	Analyze and evaluate the process of entrepreneurship and ways to manage it.
2	Recognize the entrepreneurial potential within yourself and others in your environment.
3	Identify the many ways in which entrepreneurship manifests itself, including start-up contexts, corporate contexts, social contexts, public sector contexts, and others.
4	Prepare feasibility studies to distinguish between ideas and entrepreneurial opportunities and determine the profitability of a business venture.
5	Manage the practical challenges of starting/acquiring, operating, financing, and marketing a successful small business including the elements of a business plan.
6	Design, develop and present a business plan including the skills required for practical business writing, analysis, and presentation before critical reviewers.
7	Build skills required for working as teams to develop a business plan which represents a realistic business situation that could be implemented if a student, student team, or other entrepreneur chose to do so.

COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES (Blank : no contribution, 1: least contribution ... 5: highest contribution)

No	Program Competencies	Cont.
Master of Science in Business Administration Program
1	Integrate theories from business and economics to tackle business problem	5
2	Inspire an open minded-attitude through continuous learning and team-work.	5
3	Demonstrate ethical, social, and legal responsibilities in organizations	5
4	Organize and pursue scientific research projects	5
5	Enhance persuasive communication and presentation capabilities.	5
6	Critically evaluate contemporary research in specific business areas.	5

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Midterm Exam(s)	1	20
Presentation	1	10
Project	1	30
Case Study	1	10
Term Paper	1	10
Other	1	20
	Total Percent:	100%

ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)

Activities	Quantity	Duration(Hours)	Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours)	16	3	48
Hours for off-the-classroom study (Pre-study, practice)	16	3	48
Mid-terms	1	21.5	21.5
Assignments	10	4	40
Final examination	1	30	30
Other			0
Total Work Load:			187.5
Total Work Load/25(h):			7.5
ECTS Credit of the Course:			7.5

CONCLUDING REMARKS BY THE COURSE LECTURER

Class lectures are supported with discussions, problem solving practice and video cases. Throughout this course, students are expected to demonstrate highest levels of involvement and commitment, in terms of efforts, quality of work, and conduct both at individual level and as groups. Ehttps://epoka.edu.al/mat/codes/01-Code%20of%20Ethics.pdf