Rationale

This course aims to help students develop the skills of engaging in the strategic analysis of the business environment of an organisation and for the identification of its strategic strengths/weaknesses which may enable the small business to survive and grow in a competitive environment. The course will refer to the development of capability in order for the students to be more entrepreneurial, or more able to support the entrepreneurial process, in privately owned small and medium-sized businesses. Focus will be placed on the broad issues and practice of business start-up and development from both a conceptual and practical viewpoint. Students will examine the personal strengths and weaknesses in relation to elements of the entrepreneurial process as well as the aspects of the process of business development on the exploration of an issue.

Learning Outcomes

At the end of the course students will be expected to:
(i)    Explain the advantages and disadvantages of a small business.
(ii)   Describe the types of small business, how they can be funded and compare legal identities.
(iii)  Define the variables influencing small businesses.
(iv)  Describe and understand the legal issues applicable to small businesses.
(v)   Understand how small businesses operate.
(vi)  Understand the management of human resources in the small business.
(vii) Identify and evaluate global opportunities for small businesses and entrepreneurs.
(viii) Analyse the operational strategies that are available.
(ix)  Identify and discuss the challenges faced by entrepreneurs.