BUSINESS PLANNING FUNDAMENTALS
Each student will develop a business concept, assess the strengths and weaknesses of that business concept and write a sound business plan. In the course of developing their individual business plans, students will collect, analyze and organize market research data into their plan and prepare the financial projections for their business concept. Students will also be able to identify and evaluate various resources available for funding small businesses. This is an interactive course for students to understand the important role that entrepreneurs play in the community as well as the business fundamentals involved in launching a new product or service and developing a successful business. Fundamentals reviewed include basic business practices, terms, concepts, and applications as they pertain to finance, marketing, management, human resources, leadership, accounting, ethics, and law. Students participate in hands-on experience through in-class discussions and presentations, and business plan development, which will touch on all the fundamentals. Problem solving strategies will be practiced as we discuss actual entrepreneurial successes and failures. Students will evaluate their classmates’ business ideas as well as assigned examples to apply their understanding. Through class exercises, business planning will be understood as an important road map to benefiting any entrepreneurial venture.