EPOKA UNIVERSITY
FACULTY OF ECONOMICS AND ADMINISTRATIVE SCIENCES
DEPARTMENT OF BUSINESS ADMINISTRATION
COURSE SYLLABUS
2025-2026 ACADEMIC YEAR
COURSE INFORMATIONCourse 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) | Double Degree in Master of Science in Business Administration |
| Classroom and Meeting Time: | E 213 Monday 18:00 - 20:50 |
| 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 – The process by which individuals identify, evaluate, and pursue opportunities without being limited by current resources. It involves innovation, risk-taking, value creation, and applying sustainable and ethical practices. |
| 2 | Design Thinking in Entrepreneurship – A human-centered, iterative approach to problem-solving that helps entrepreneurs understand customer needs, prototype innovative solutions, and develop products or services that are desirable, feasible, and sustainable. |
| 3 | Survival Businesses – Small ventures providing the owner just enough income to cover basic living expenses. Examples include handyman services or part-time childcare. These businesses may focus on efficiency and local community needs rather than growth. |
| 4 | Lifestyle Businesses – Enterprises that allow owners to earn a living while pursuing a personal lifestyle or passion. Examples include boutique clothing stores or personal training services. Sustainability can be integrated through eco-friendly products or socially responsible practices. |
| 5 | Managed Growth Businesses – Firms employing multiple staff (typically 10 or more), often with multiple locations, introducing new products or services to the market. Examples include regional restaurant chains or multi-unit franchises. Sustainable practices include supply chain management, resource efficiency, and social responsibility. |
| 6 | Business Model – A structured plan outlining how a company creates, delivers, and captures value for its stakeholders. Business models should integrate sustainability principles and are typically developed after feasibility analysis and before operational planning. They are key to both short- and long-term success. |
| 7 | Feasibility Analysis – The process of assessing whether a business idea is viable, including economic, operational, and environmental considerations. Feasibility studies ensure the idea is practical, profitable, and sustainable before committing significant resources. |
| 8 | Industry & Industry Analysis – An industry comprises firms producing similar products or services, such as music studios, yoga studios, or solar panel manufacturers. Industry analysis evaluates the potential of an industry, including market trends, competitive landscape, and opportunities for sustainable innovation. |
| 9 | Opportunity – A favorable set of circumstances creating demand for a new product, service, or business, ideally aligning profitability with social and environmental impact. |
| 10 | Pitching – The process of presenting a business idea or plan to potential investors, partners, or stakeholders. Effective pitching communicates the value proposition clearly, demonstrates market potential, highlights sustainable and ethical practices, and persuades the audience to support the venture. |
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COURSE OUTLINE
|
| Week | Topics |
| 1 | Introduction to Entrepreneurship – Chapter 1 (pp. 4–16) Students are introduced to the concept, scope, and significance of entrepreneurship. The session explores why individuals become entrepreneurs, debunks common myths, and examines entrepreneurial characteristics and types of ventures. The economic, social, and sustainability impacts of entrepreneurship are emphasized, along with the stages of the entrepreneurial process as a framework for the course. |
| 2 | Recognizing Opportunities & Generating Ideas – Chapter 2 (pp. 41–75) Students learn to differentiate between ideas and opportunities, exploring how market trends, emerging technologies, and customer needs reveal innovation potential. Using design thinking and customer discovery, they develop skills to generate sustainable, user-centered solutions aligned with global challenges and the SDGs. |
| 3 | Sustainability and the SDGs – Supplementary Readings (UNDP SDG Framework) Students explore sustainability as a driver of innovation, studying how responsible entrepreneurship contributes to the UN Sustainable Development Goals. Discussions focus on environmental stewardship, social equity, and ethical governance as integral elements of modern entrepreneurial strategy and value creation. |
| 4 | Industry and Market Analysis – Chapter 5 (pp. 147–177) This week examines how to assess industry potential and understand market dynamics. Students conduct industry and competitor analyses to identify viable niches and evaluate barriers to entry. Emphasis is placed on sustainability-oriented markets, circular economy opportunities, and creating competitive advantage through ethical and responsible business models. |
| 5 | Design Thinking & Feasibility Analysis – Chapter 3 (pp. 77–109) Students apply design thinking to test the feasibility of business ideas by integrating empathy, ideation, and experimentation. Through rapid prototyping and feedback loops, they evaluate problem-solution fit and learn how sustainability can strengthen the feasibility and long-term value of proposed ventures. |
| 6 | Building Business Models – Chapter 6 (pp. 179–209) This week focuses on how to structure value creation through business model design. Students explore the four components of a successful business model—value proposition, resources, customer interface, and financial logic—while integrating sustainability, circularity, and impact-driven thinking into each element. |
| 7 | Testing & Experimenting with New Ideas – Chapter 4 (pp. 110–145) This week emphasizes hypothesis testing and experimentation using lean startup principles. Students design and evaluate prototypes, test market assumptions, and assess customer feedback to refine their business plans. Sustainability metrics and social impact indicators are introduced for evaluating long-term viability. |
| 8 | Pitching & Storytelling Students refine their storytelling and pitching skills to effectively communicate their business ideas and sustainability impact to investors, partners, and customers. Focus is placed on structure, clarity, emotional engagement, and data-driven persuasion. |
| 9 | Midterm Project & SFF Pitch Students present midterm projects where they pitch their validated business ideas through short, persuasive presentations. Emphasis is placed on clarity, storytelling, and communicating sustainability impact to potential investors and stakeholders. |
| 10 | Planning for Entrepreneurs – Chapter 11 (pp. 357–391) Students learn how to craft strategic and marketing plans for entrepreneurial ventures. Topics include market segmentation, branding, and go-to-market strategies emphasizing sustainable marketing and ethical customer engagement. The role of digital tools and storytelling in market communication is also introduced. |
| 11 | Revenue Modelling – Chapters 10–11 (pp. 293–372) This week explores revenue generation and financial sustainability. Students learn to model income streams, manage costs, and plan for profitability while maintaining environmental and social responsibility. Risk management, partnerships, and strategic financing are discussed as tools for resilient growth. |
| 12 | Financial Modelling – Chapter 8 (pp. 253–287) Students study financial management fundamentals for startups, including budgeting, forecasting, and cash flow analysis. They develop financial models to evaluate venture feasibility and sustainability performance, integrating ethical and green financing strategies. |
| 13 | Anticipating Failure & Financing Ventures – Chapter 10 (pp. 319–353) This session covers funding sources and strategies, from bootstrapping to venture capital. Students analyze common startup challenges and learn how to anticipate and mitigate failure through resilient planning, transparent governance, and sustainable financial practices. |
| 14 | Final Project Preparation |
| 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 |
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COURSE LEARNING OUTCOMES
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| 1 | Articulate the entrepreneurial process, principles of small business management, and the role of sustainability in creating long-term value for businesses and society. |
| 2 | Recognize the multiple contexts in which entrepreneurship occurs, including start-ups, corporate innovation, social ventures, and public sector initiatives. |
| 3 | Identify entrepreneurial potential in themselves and others and evaluate opportunities using sustainability criteria, such as environmental impact, social responsibility, and ethical considerations. |
| 4 | Analyze emerging trends and challenges in sustainable entrepreneurship to inform strategic decision-making. |
| 5 | Conduct customer discovery and apply design thinking to develop innovative solutions that address real-world needs while integrating sustainable practices. |
| 6 | Prepare feasibility studies and initial business models to determine the financial, operational, and environmental viability of potential ventures. |
| 7 | Use business modeling techniques to design scalable and sustainable business models aligned with market demands and societal impact. |
| 8 | Design and deliver persuasive business pitches to investors, stakeholders, or evaluators, highlighting sustainability, innovation, and market relevance. |
| 9 | Work effectively in teams to simulate realistic entrepreneurial projects, incorporating collaborative decision-making, sustainable business practices, and practical implementation strategies. |
| 10 | Integrate feedback and iterative learning to improve business solutions with a clear focus on social, environmental, and economic sustainability. |
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COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES
(Blank : no contribution, 1: least contribution ... 5: highest contribution) |
| No | Program Competencies | Cont. |
|
COURSE EVALUATION METHOD
|
| Method | Quantity | Percentage |
| Project |
2
|
35
|
| 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 in this course are supported with discussions, problem-solving practice, and video cases. Throughout the semester, students are expected to demonstrate the highest levels of involvement and commitment in terms of effort, quality of work, and conduct—both individually and in groups. This semester, students will also participate in a European track called SFF Learn, driven by the Start for Future (SFF) initiative, which will provide additional opportunities for collaboration, innovation, and entrepreneurial learning. Furthermore, students are reminded to uphold the values of academic integrity and professionalism. The Code of Ethics can be accessed at the following link: https://epoka.edu.al/mat/codes/01-Code%20of%20Ethics.pdf |