Academic Catalog 2022–2023

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Family and Entrepreneurial Management Courses

FEM301 Entrepreneurship and Small Business Management

[3–0, 3 cr.]

This course is designed to address the complex workings of small family-owned and run businesses. It will give students a working knowledge of the tools and concepts involved in preparing a business plan. Topical coverage includes foundations of entrepreneurship, forms of ownership and franchising, methods for determining the value of a business, marketing and financial considerations in building a business plan, managing inventory in small businesses, quality control and just-in-time techniques, managing human resources in the family businesses, techniques for enhancing profitability, and global aspects of entre­preneurship.

Prerequisite: MGT201 Introduction to Management

FEM304 Family Business Management

[3–0, 3 cr.]

This course is designed to address the challenges unique to family-owned and run businesses. It will help students develop action plans for their family businesses. Topical coverage includes concepts of corporate governance versus classical governance, structures of a family business, key elements of a govern­ance structure, family businesses versus board of directors, securing succession as a key governance measure, handling the control task as a key governance measure, ownership and developmental dimensions, founders and entrepre­neurial experience, and the structures and plans guiding developments. Other topics include families as sources of capital, leadership in family businesses, separating family life and work life, how to work with family relations, children in the family business, working with siblings, working with the expected fam­ily, divorce/marriage, and other complexities affecting the business, dynamics of succession, managing the transition, sibling rivalry, and multi-generational issues.

Prerequisite: MGT201 Introduction to Management

FEM311 Small Business Startup Laboratory

[3–0, 3 cr.]

The objective of this course is to encourage students to start new businesses and to address functional ways of startups. It will include topics such as the types of new businesses, new markets and the web, how to start marketing on the web, creating and designing your webpage, electronic commerce and the future, how to find new products, how to sell online, evaluation of potential startups, site selection and layout, competitive advantage and marketing research, pricing and credit policies, and preparing small businesses to go glob­al. The course includes a laboratory and students will end up with a feasibility study or a business plan.

Prerequisites: Senior standing, MGT201 Introduction to Management and MKT201 Introduction to Marketing

FEM312 Digital Entrepreneurship

[3–0, 3 cr.]

This course will help students understand why digital technologies are at the forefront of entrepreneurship and give them familiarity with key characteristics of online and digital entrepreneurship. More generally, students will be able to theoretically design new products or services and innovate using the internet and digital technologies, they will learn how the internet affects entrepreneurial competition including network effects and platform technologies, using the internet to find resources and team members to build a business, plus the role of growth and scaling. Students will learn through a mix of useful assessment, strategy and theory, designed to help them become a digital entrepreneur utilizing rapidly changing technology.

Prerequisite: MGT201 Introduction to Management

FEM322 Entrepreneurial Marketing

[3–0, 3 cr.]

This course addresses the marketing challenges facing entrepreneurial firms in their pre and post-start-up. In a small business, the marketing function cuts across the entire company affecting every aspect of its operation, from finance and production to hiring and purchasing, as well as the company’s ultimate success. As the business environment becomes more turbulent and competition becomes more intense, small business owners must understand the importance of developing creative business strategies. However, the entrepreneur is often undercapitalized, understaffed, and lacks the time and resources needed to respond to these challenges in traditional ways. Therefore, this course looks spe­cifically at how to develop and implement a marketing plan in such a context. The focus is on the strategies and tactics that work for entrepreneurs on limited budgets with special attention to conventional marketing strategies.

Prerequisite: MKT201 Introduction to Marketing

FEM333 Venture Capital & Entrepreneurial Financing

[3–0, 3 cr.]

Raising money to launch and grow a new business venture has always been a challenge for entrepreneurs. However, achieving success depends heavily on the financial knowledge and skill of the entrepreneur. This course introduces students to the financial theories, concepts, and methods that entrepreneurs need to start, grow, and harvest the business. It looks at the process of financing, managing and evaluating a venture including: exploring external financing options (equity-debt capital), the super angel market, cash flow management, forecasting, feasibility, valuation, legal considerations, and exit strategies. In addition, this course introduces a variety of financial topics that relate to small businesses, such as: initial public offering, growing via strategic alliances and valuing the business.

Prerequisites: FIN301 Managerial Finance 

Equivalent to the old FEB321 Venture Growth Strategies for Entrepreneurs

FEM410 Corporate governance

[3–0, 3 cr.]

This course will teach the fundamental theories and practice of corporate governance. This course covers the history of the corporation, boards of directors, the division of profit sharing and various forms of employee ownership and equity ownership among insiders, regulation, shareholder activism, the impact of takeovers and mergers and acquisitions on governance, ethical issues such as conflicts of interest and insider trading, international corporate governance, and policy developments likely to impact the corporation. Corporate governance refers to the mechanisms that solve two principal-agent (PA) problems, which are present in large corporations where ownership of residual cash flow and control are in different hands. One such PA problem arises between the owners of capital and managers, and another between the small, dispersed owners and large, concentrated blockholders of the firm. The objective of the course is to present the main questions and answers related to corporate governance, the theories describing them and the empirical work.

FEM488 Topics in Family and Entrepreneurial Business

[3–0, 3 cr.]

This course covers a wide range of topics, focusing on the latest developments in entrepreneurship, and setting-up and managing small and medium enterprises. The course could be taken more than once for credit when topics differ.

Prerequisites: Refer to Family & Entrepreneurial Business requirements, and the specific topics offered.

FIN724 Bank Liquidity and Credit Management

[1.5–0, 1.5 cr.]

This course deals with bank liquidity problems and solutions. It also discusses credit analysis by addressing short and long-term loans to business firms, financial ratio analysis of a customer’s financial statements, and business loan applications.

Prerequisite: ACC711 Accounting for Executives  [1.5 credits]