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ENT883Management Sciences3 Unitsintermediate

Small Business Management

This course, Small Business Management, is designed to provide students with a comprehensive understanding of the principles and practices involved in establishing, organizing, and managing a small business enterprise. It covers opportunities analysis, business plan development, and key aspects of small business operations management. The course aims to equip students with the skills to define business goals, assess market potentials, raise capital, and effectively manage business operations.

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45h
Study Time
13
Weeks
3h
Per Week
basic
Math Level
Course Keywords
Small BusinessBusiness PlanEntrepreneurshipOpportunities AnalysisManagement

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
➕
Math Level
Basic Math
🔬
Learning Type
Hands-on Practice

Course Topics

Key areas covered in this course

1

Nature of Small Business

2

Opportunities Analysis

3

Business Plan Development

4

Financial Management

5

Marketing Strategies

6

Operations Management

Total Topics6 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assignments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Business Owner

Apply your skills in this growing field

Small Business Manager

Apply your skills in this growing field

Entrepreneur

Apply your skills in this growing field

Business Consultant

Apply your skills in this growing field

Loan Officer

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

RetailManufacturingService SectorAgricultureTechnology

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1:

4h

Unit 1: The Nature of Small business

2 study hours
  • •Define small business
  • •Identify small businesses in your environment
  • •Discuss the role of small businesses in the Nigerian economy

Unit 2: Advantages and disadvantages ofsmall business

2 study hours
  • •Analyze the advantages of low start-up capital and operational flexibility
  • •Evaluate the disadvantages related to lack of capital and managerial skills
  • •Discuss the reasons why people engage in small business
Week
2

Module 1:

4h

Unit 3: Introduction to Opportunities analysis

2 study hours
  • •Discuss demographic trends and their impact on business opportunities
  • •Analyze economic, political, and socio-cultural trends
  • •Classify goods and services to identify potential business ventures

Unit 4: Advanced Opportunities analysis

2 study hours
  • •Use statistical data to forecast emerging opportunities
  • •Analyze transportation, communication, and education data
  • •Apply the growth factor technique to forecast future demand
Week
3

Module 2:

2h

Unit 1: Characteristics for success in small business

2 study hours
  • •Identify characteristics for success in small business such as technical competence and mental ability
  • •Develop human relation skills including communication, motivation, and leadership
  • •Foster creativity and high achievement drive
Week
4

Module 2:

2h

Unit 2: The Technical plan

2 study hours
  • •Analyze factors affecting the location of a business
  • •Develop a technical plan including land, buildings, machinery, and equipment
  • •Create a production plan and manage utilities
Week
5

Module 2:

2h

Unit 3: The Management plan

2 study hours
  • •Determine the legal form of a business (sole proprietorship, partnership, incorporated company)
  • •Design an organization structure
  • •Understand the components of a management plan
Week
6

Module 2:

2h

Unit 4: The Marketing plan

2 study hours
  • •Identify potential customers and define their characteristics
  • •Evaluate the size of the market and forecast future demand
  • •Develop a marketing plan including pricing and distribution policies
Week
7

Module 3:

2h

Unit 1: The Financial plan

2 study hours
  • •Estimate project costs including land, buildings, and equipment
  • •Develop a financing plan
  • •Project income statements, cash flow statements, and balance sheets
Week
8

Module 3:

2h

Unit 2: The Economic plan

2 study hours
  • •Compare economic and financial analysis
  • •Analyze transfer payments, taxes, and subsidies
  • •Evaluate the linkage effects of a project
Week
9

Module 3:

2h

Unit 3: Managing Manufacturing Operations

2 study hours
  • •Understand the nature of manufacturing
  • •Plan manufacturing facilities including land and factory layout
  • •Manage raw materials and production processes
Week
10

Module 3:

2h

Unit 4: Managing Service Based Operations

2 study hours
  • •Understand service-based operations
  • •Design operations management systems
  • •Apply total quality management (TQM) principles
Week
11

Module 4:

2h

Unit 1: Monitoring Performance

2 study hours
  • •Implement controlling measures
  • •Apply budgeting techniques
  • •Monitor performance against set standards
Week
12

Module 4:

2h

Unit 2: Accounting records for Small Business

2 study hours
  • •Maintain accounting records for small business
  • •Prepare financial statements (balance sheet, income statement, cash flow statement)
  • •Manage the books effectively
Week
13

Module 4:

2h

Unit 3: Sourcing Capital for Small Business

2 study hours
  • •Identify various sources of capital for small business
  • •Explore personal savings, loans from friends, and bank loans
  • •Investigate the Small and Medium Enterprises Equity Investment Scheme (SMEEIS)

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create a detailed study schedule allocating time for each unit

2

Focus on understanding key concepts and definitions from Units 1-5

3

Practice developing business plans using examples from Units 6-10

4

Review financial statements and budgeting techniques from Units 11-14

5

Prepare case studies for practical application of concepts

6

Review all Tutor Marked Assignments (TMAs) and exercises

7

Create concept maps linking Units 3-5 opportunities analysis concepts

8

Practice financial ratio calculations from Units 7-9 weekly

9

Focus on understanding the key differences between financial and economic plans

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