New Venture Development
This course presents factors to be considered by those interested in the ownership and management of small business enterprises. Includes who should be an entrepreneur, guidelines for starting a new business, basic legal considerations, and approaches for obtaining credit and capital. Revised course includes staffing, purchasing, supplier relations, cash flow management, and managerial skills needed to run any business or corporate department.
- Project management skills for identifying all tasks necessary to launch a business
- Industry financial ratios legal entity
- Competitive marketing comparison & differential advantage
- Pricing strategies
- Facilities planning: space & lease requirements
- Basic bookkeeping & operating forms
- Payroll & insurance obligations
- Job descriptions & fringe benefits
- Managing people
- “Soft” management skills
- Inventory management & vendor relations
- Valuing your business
- Submission of launch plan
- Submission of final business plan
Course Learning Outcomes
- Demonstrate project management skills
- Prepare a business plan suitable for presenting to a bank loan officer for commercial financing
- Identify the net profit ratio in their respective industry & how to extrapolate that into total sales needed to achieve their profit goal
- Demonstrate primary marketing research by analyzing their current, existing competition for price, product line, distribution, & promotion.
- Demonstrate how their pricing strategy will provide a differential advantage over the competition& allow achievement of their profit goal.
- Apply facilities planning skills by hands-on exercises
- Apply skills for basic bookkeeping & operating forms preparation
- Analyze the 18 calculations necessary to process a single payroll & the withholding requirements for IRS & [state] department of taxation
- Analyze workers compensation insurance requirements that are mandatory in each state.
- Demonstrate the ability to write qualified job descriptions & to understand the costs & long term responsibilities of fringe benefits.
- Demonstrate an understanding of how to manage people & create a motivating environment.
- Demonstrate their use of ‘soft’ management skills.
- Identify & prepare for inventory management decisions & primary / secondary vendor relations.
- Calculate & demonstrate their ability to value their business.
Introduction to Logistics and Transportation
The course studies the logistics and transportation industry as part of the growing emphasis on distribution technologies. Introduces basic understandings of the function areas of logistics management and their interrelationships and how transportation and distribution play a significant role in the success of a business.
Pre-requisite: Third year status or permission of the instructor.
- Logistics' role in the economy and the organization
- Supply chain
- Customer service
- Order processing and information systems
- Inventory management
- Managing materials flow
- Materials handling, computerization, and packaging
Course Learning Outcomes:
- Analyze a basic logistical process using descriptive statistics and flowcharting
- Explain the role of information systems in order processing and materials management
- Explain the importance of customer service and discuss ways to measure customer satisfaction
- Analyze basic inventory scenarios
- Discuss strategies and trends in procurement activities
- Explain the relationship between logistics and transportation in managing materials and product flow
- Describe strategies and trends in materials handling and packaging
- Explain the impact of computerization and information technology on logistics practices
Addresses project management from a multidisciplinary perspective, covering the fundamental nature of and techniques for managing a broad range of projects—public, commercial, and non-profit. Topics include Project Environment, Planning, Conflict Resolution, Budgeting, Scheduling, Resource Allocation, Monitoring/Controlling, and Project Termination. Addresses the behavioral and quantitative facets of project management. Incorporates the use of spreadsheets, project management software, and simulation for risk analysis software. Introduces the standard framework, processes and knowledge areas of the Project Management Institute, A Guide to the Project Management Body of Knowledge (PMBOK® Guide)- Fifth Edition, Project Management Institute, Inc., 2013. Students should have elementary management experience.
Pre-requisite: MGMT-160 World of Business or MGMT-215 Organizational Behavior; STAT-145 Introduction to Statistics I or MTSC-311 Business Statistics; or permission of instructor.
- Projects in contemporary organizations
- Strategic management and project selection
- The project manager
- Negotiation and the management of conflict
- The project in the organizational structure
- Project activity planning (scope and WBS)
- Budgeting and cost estimation
- Scheduling (network techniques, PERT, and CPM)
- Resource allocation
- Monitoring and information systems (Earned Value Analysis)
- Project control
- Project auditing
- Project termination
- Trends in project management
- Presenting the complete project plan
Course Learning Outcomes
- Describe the unique nature of projects and the way many organizations utilize projects.
- Apply financial techniques and simulation tools to assess project risk
- Apply the fundamental concepts and techniques embodied in project management.
- Recognize the project management framework and apply the 9 knowledge areas.
- Integrate discrete groups of information into a meaningful composite.
- Recognize the behavioral facets of project management.
- Complete a comprehensive project plan for a “real life” project.
- Appraise problematic project management situations to determine the best solutions.
PMBOK is a registered mark of the Project Management Institute, Inc.