Small Business Management

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Course Contents

Unit 1: Introduction to Small Business and Management: Evolution and development of Small Business, Definition and concept of Small Business, Importance of Small Business, Small business

Unit 2: Strategic Management: Views of leading thinkers on strategy, Levels of strategy -corporate, business & functional, Vision – Mission –Objectives, Environmental analysis -PEST framework, Porter’s five forces model, Internal environment analysis - SWOT framework, Pointers for prospects in Small Business Management, Competitive strategies —Cost leadership, differentiation & focus, Principles  of competitive advantage, Value chain analysis

Unit 3: Managerial aspects of Small Business: Managerial traits, Nature of managerial qualities, Pros and cons of managerial qualities, Gap analysis, Bridging the gaps, Honing the skills, Tools and techniques of enhancing managerial skills, Long range perspective,Best models

Unit 4: Marketing aspects of Small Business: Approaches to marketing, Core concept of marketing, Assessment of needs & wants of customers, Understanding buyer behavior, Competitor analysis , Marketing strategy, Market segment analysis, Marketing opportunities, Pricing strategies, Marketing channels, advertising & sales promotion

Unit 5: Technical aspects of Small Business: Productivity improvement, Material and machines, Alternate modes of operation,       Importance of selection process and technologies, Balancing the resources to optimise costs, Maintaining quality for customers acceptability

Unit 6: Financial aspects of Small Business: Sources of funding, Cost and benefits of various funding options, Assessment of investment strategies, Profitability planning, Classification of assets & liabilities, Working capital management – cash, inventory, receivables management , Financial statement - balance sheet, profit & loss A/c, funds flow & cash flow statements, Financial statement analysis, Strategising - expansion, diversification, modernization, Slating for next generation

Unit 7: Cost aspects of Small Business          : Cost management, Elements of cost, Classification of costs - Fixed & variable, product & period, functional, Apportionment & allocation of costs, Product costing - absorption costing, marginal costing, standard costing, Activity based costing, target costing, Cost-Volume-Profit analysis, Budgets — types — fixed – flexible,          Budgetary control

Unit 8: Socio economic aspects of Small Business: Socio-economic aspects of business, Models in adoption, Linkages established, Image building mechanism, Roping in other agencies

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