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BU 097 Introduction to Entrepreneurship

GENERAL INFORMATION:

Course No. and title: BU097-Introduction to Entrepreneurship

Campus: Pohnpei, CTEC, Kosrae, Chuuk, Yap

Initiator: Debra W. Perman

Date: 11/9/2021

Course description: This course is designed to provide the student an overview of the entrepreneurial process of creating a business. The definition of entrepreneur, types of business organizations, legal aspects, personnel management and the criteria for establishing a small business are discussed. The student will create a simple business.

COURSE HOURS/CREDITS:

   

Hours per Week

 

No. of Weeks

 

Total Hours

 

Semester Credits

Lecture

  

3

x

16

x

48

=

3

Laboratory

  

0

x

16

x

0

=

0

Workshop

  

0

x

16

x

0

=

0
         

Total Semester

Credits

  

3

PURPOSE OF COURSE:

[ ] Degree requirement

[ ] Degree elective

[ x] Certificate

[ ] Other

PREREQUISITES: ESL050 Technical English or ESL/BU095 ESL for Business Purposes I and
CA095 Basic Computer Application

PSLOs OF OTHER PROGRAMS THIS COURSE MEETS:

PSLO#

Program
5. Participate in the construction industry. Certificate of Achievement in Carpentry
5. Participate in their respective trade. Certificate of Achievement in Motor Vehicle Mechanics

INSTITUTIONAL STUDENT LEARNING OUTCOMES

[ ] 1. Effective oral communication: capacity to deliver prepared, purposeful presentations designed to increase knowledge, to foster understanding, or to promote change in the listeners’ attitudes, values, beliefs, or behaviors.
[ ] 2. Effective written communication: development and expression of ideas in writing through work in many genres and styles, utilizing different writing technologies, and mixing texts, data, and images through iterative experiences across the curriculum.
[ ] 3. Critical thinking: a habit of mind characterized by the comprehensive exploration of issues, ideas, artifacts, and events before accepting or formulating an opinion or conclusion.
[ ] 4. Problem solving: capacity to design, evaluate, and implement a strategy to answer an open-ended question or achieve a desired goal.
[ ] 5. Intercultural knowledge and competence: a set of cognitive, affective, and behavioral skills and characteristics that support effective and appropriate interaction in a variety of cultural contexts.
[X] 6. Information literacy: the ability to know when there is a need for information, to be able to identify, locate, evaluate, and effectively and responsibly use and share that information for the problem at hand.
[X] 7. Foundations and skills for life-long learning: purposeful learning activity, undertaken on an ongoing basis with the aim of improving knowledge, skills, and competence.
[ ] 8. Quantitative Reasoning: ability to reason and solve quantitative problems from a wide array of authentic contexts and everyday life situations; comprehends and can create sophisticated arguments supported by quantitative evidence and can clearly communicate those arguments in a variety of formats.

1. PROGRAM STUDENT LEARNING OUTCOMES (PSLOs):
The student will be able to:

  1. Demonstrate proper bookkeeping techniques for a small business.
  2. Demonstrate general computer competence and information technology literacy.
  3. Describe small business management techniques.
  4. Communicate effectively in English for business purposes.
  5. Perform business computations and apply logic as needed.
  6. File documents properly and use common office machines.

2. COURSE STUDENT LEARNING OUTCOMES (CSLOs) (General):
The student will be able to:

  1. Describe the basics of small business management.
  2. Describe the role of small business in an economic system with emphasis on the FSM and its general business environment.
  3. Explain the basics and challenges of entrepreneurship.
  4. Describe and create a simple business plan.

3. COURSE STUDENT LEARNING OUTCOMES (CSLOs) (Specific):
The student will be able to:

CSLO (General) 1: Describe the basics of small business management.
Student Learning Outcomes (specific) ISLO PSLO Assessment Strategies
1.1 Define business. 6 3 A grading rubric will be used to assess a short essay quiz requiring the student to define business.
1.2 Describe a small business and the various options for starting one. 6 3 A grading rubric will be used to assess a short essay quiz requiring the student to provide details describing what a small business is and also provide a listing of various options for starting one.
1.3 Describe the legal forms of business organizations and their advantages and disadvantages. 6 3 A grading rubric will be used to assess an essay type quiz in which the student will need to list and describe each legal form of business ownership and provide their respective advantages and disadvantages.
1.4 Describe the private enterprise system. 6 3 A grading rubric will be used to assess a quiz requiring the student to provide examples and details of the private enterprise system.
1.5 Describe the factors of production. advantages and disadvantages. 6 3 A grading rubric will be used to assess a quiz requiring the student to list and provide examples of the factors of production.
1.6 Describe small business management:
1.6.1 Identify management competencies and styles.
1.6.2 Describe organizational structures.
1.6.3 Describe general marketing aspects.
1.6.4 Describe financing needs, sources, and forecasting.
1.6.5 Describe pro forma financial statements.
1.6.6 Describe the important role technology plays in small business industries.
 6, 7 3

A grading rubric will be used to assess a short essay quiz requiring the student to provide brief descriptions of each component of small business

management; in addition, a rubric will be used to assess a writing exercise for the student to compose a draft of each component.
General CSLO 2: Describe the role of small business in an economic system with emphasis on the FSM and its general business environment.
Student Learning Outcomes (specific) ISLO PSLO Assessment Strategies
2.1 Define an economic system. 6 3 A grading rubric will be used to assess a short essay quiz requiring the student to define an economic system.
2.2 Describe the FSM economic system and its general business environment. 6 3 A grading rubric will be used to assess the student’s response to prompts following a video presentation on the FSM’s economy and a brief survey of the business environment in the FSM.
2.3 Explain the importance of small business in the FSM economy. 6, 7 3 A grading rubric will be used to assess a short writing assignment requiring the student to conduct research and provide details and examples of how small business contributes to the FSM economy.
2.4 Identify business opportunities and trends in the FSM and the global market. 6, 7 3 A grading rubric will be used to assess an oral presentation requiring the student to share findings of business opportunities in the FSM and globally. The student will also be tasked to list at least 3 potential choices of preference.
General CSLO 3: Explain the basics and challenges of entrepreneurship.
Student Learning Outcomes ISLO PSLO Assessment Strategies
3.1 Define and describe entrepreneurship and discuss how it relates to the aspects of starting and running a business. 6, 7 3 A grading rubric will be used to assess a brief oral presentation requiring the student to define entrepreneurship and provide examples of how it relates to starting and running a business.
3.2 Define and describe what an entrepreneur is. A grading rubric will be used to assess an oral presentation requiring the student to define what an entrepreneur is, provide examples of the different types of entrepreneur, list the different characteristics and traits, and summarize findings of entrepreneurial opportunities of interest and the challenges.
3.3 Identify the defining characteristics and traits of an entrepreneur.
3.4 Identify and explain entrepreneurial opportunities and challenges.
General CSLO 4: Describe and create a simple business plan.
Student Learning Outcomes ISLO PSLO Assessment Strategies
4.1 Describe the key components of a simple business plan. 6 3 A grading rubric will be used to assess a short answer quiz requiring the student to list and describe the key components of a simple business plan.
4.2 Create a simple business plan. 6, 7* 3 A grading rubric will be used to assess a written assignment in the form of a project requiring the student to create a simple business plan and present it to the class.

4. COURSE CONTENTS

  1. FSM Economic System and General Business Environment
  2. Starting and Growing your business
  3. The entrepreneur, key traits, challenges and success
  4. Opportunities and trends for entrepreneurs
  5. Business Organization and Management
  6. Developing Marketing Strategy
  7. Analysis of Financial Needs and Sources
  8. Technology of Business
  9. Writing a business plan

5. METHODS OF INSTRUCTION

[X] Lecture [ ] Cooperative learning groups

[ ] Laboratory [X] In-class exercise

[X] Audio visual [X] Demonstrations

6. REQURIED TEXT(S) AND COURSE MATERIALS
Katz, J. , Green, R., Entrepreneurial Small Business. 6th ed., McGraw Hill/Irwin, 2021. (or most recent edition)

7. REFERENCE MATERIALS
None

8. INSTRUCTIONAL COSTS
None

9. EVALUATION
Summative evaluation will be based on exams and the final project with a passing grade of 70% or C.

10. CREDIT BY EXAMINATION
None

BU 097 Intro. to Entrepreneurship

 Approved by VPIA: 04/11/22

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