GBUS 823 MANAGEMENT OF SMALLER ENTERPRISES

This course provides students with an opportunity to understand business opportunities and challenges from the hands-on perspective of the owner/CEO of smaller enterprises. Although many MBAs are deciding that they would rather lead in smaller businesses than follow in large ones, by the end of this course they will see that managing a smaller enterprise is an art related to, but substantially different from, managing a large corporation. Typical issues explored are: managing cross-functionally simultaneously; devising strategy in the face of limited capital and resources; creating and sustaining a high-performance culture; scaling a business; adopting processes, systems and controls; managing hourly workers; the paradoxes of success; creating sustainable value as a smaller enterprise CEO; management transitions associated with stages of small business growth; when should you stop growing; challenges of finding, retaining, and losing employees; special issues and considerations in the family-owned business; franchising as a financing and growth mechanism; legal and ethical challenges of everyday life in the small firm while upholding its reputation; and exiting a venture on your terms.

Academic course objectives:

· Expose students to the issues and challenges of building and leading a sustainable small enterprise

· Expose students to the multidisciplinary management competencies needed to lead a small business

· Expose students who may consult with or invest in small businesses to the special challenges faced by small businesses

Elements of the course grade:

· Class contribution                         50%

· Final examination                          50%