Small business management degrees help students in starting or managing small businesses. Students acquire knowledge and skills in managing franchises, virtual businesses, family owned businesses, and home enterprises. The degree also helps students to launch a new enterprise, take over an established business, or become a manager who could bring a significant difference in the future of a small business.
Coursework
Coursework for small business management degrees may differ from one institute to another. However, there are some core courses that are generally a part of most of these degree programs. These key courses may include:
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Budgeting and Forecasting
This course teaches students to design and implement a budget, which includes various resource expenditures. Students also learn budget forecasting and assess its impact on the planning of a business.
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E-Commerce for Small Business
This course is based on the potential of e-commerce, and how it could have an impact on the small business practices. Topics covered in the course include online business opportunities, issues, alternate solutions, development of an internet marketing plan, and a small business website.
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Business Plan Writing for Small Businesses
This course is designed to train students in creating a comprehensive business plan for a small business. Coursework include research, plan presentation, business plan components, executive summary, target market, company description, marketing and sales, competition, operations, management structure, and financials.
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Operations Management in Small Business
This course covers operational issues that are unique to small businesses. These issues include improving the success rate for new businesses, arranging finances for small businesses, assessing the impact of regulations on small businesses, and gathering information to improve performance.
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Human Resources Management
Students explore different contemporary concepts and essential techniques of human resources in this course. The topics covered in this course include resource planning, recruitment and selection, rewards, development of positions, and training of people.
Online Education
Students who are unable to attend on campus classes due to work or family responsibilities or may be too far from the school they would like to attend may choose online education. Degree programs offered online allows students more control over their time. Students may create their own class schedule and learn at their own pace. Besides, online programs in small business management may be more cost effective than campus based ones. There are no additional costs associated with education due to commuting, textbooks, or dorm room accommodation. Tuition fees for online programs could also be less, and this may be due to the inherently efficient setup of online education.
Careers
With a degree in small business management, students may choose to work in a variety of fields. They acquire practical knowledge and skills that are applicable to all kinds of small businesses. Graduates may start a new business of their own, or they could help in the growth or restructuring of an already established business. Major areas where small business graduates could work include administrative management, banking and finance, customer service, import and export, retail management, project management, purchasing and merchandising, insurance, and human resources.