Curtin Business School Small Business Growth 501 Unit Outline Semester One, 2012 Unit Index Number 302126 Weekly Tuition Pattern Credit Value Pre-requisites Unit Coordinator Unit Coordinator s office Unit Coordinator s email Growth Program workshop structure 50 credits Nil Gabor Hernadi Centre for Entrepreneurship, Enterprise Building 4, Technology Park g.hernadi@cbs.curtin.edu.au Contact Telephone Numbers 9266 4552 School Telephone & Fax Numbers Website for Unit Materials 9266 4555 (tel) or 9266 4546 (fax) http://elearn.cbs.curtin.edu.au IMPORTANT NOTICE The Unit Outline (this document) gives the student important information about the unit, aims, outcomes, syllabus, materials, timetable, program and assessment. Note that important information relating to policies, expectations, copyright, referencing, academic misconduct, plagiarism, assistance with communication skills, guidelines for assessment, and CV development is contained in the publication titled: Curtin A-Z Guide. This document is available for collection from CBS Student Services Office or can be accessed at http://www.business.curtin.edu.au/index.cfm?objectid=a4d0a024-f993-258c- A32B524ABF703A2F You are required to be aware of, and fulfil, your responsibilities under the University's statutes, rules, policies and procedures so it is important that you review the content in Curtin A-Z Guide 2010 in detail. CRICOS provider code 00301J Curtin Business School, Small Business Growth 501 Page 1 of 7
UNIT INFORMATION Welcome This course is designed for owner-managers and managers of established small to medium size enterprises [SMEs] that are seeking to grow, or who are already experiencing growth. The course offers participants new skills necessary for sustainable and profitable growth and an environment for peer group learning and experience exchange. The focus of the course is the development of owner-managers and managers in independent businesses that have, are or will be experiencing growth. Of particular importance to owner-managers and managers in this situation is the ability to think strategically [as opposed to operationally ] and develop a clear vision and direction for the future. Small business growth is usually via market penetration, market development or product development [or some combination of these options]. In all these situations, the proprietor must first examine the business existing performance base and potential for future development prior to committing the business to new investment or embarking upon any new projects. This unit (Small Business Growth 501) is based on your learning from the first half of the Growth Program. This unit is the first of two fifty credit point units (Small Business Growth 501 and Small Business Growth 502) you will need to complete to be awarded the Graduate Certificate in Small Business Growth. This is the formal accreditation that accompanies the Growth Program and is a postgraduate award course. 1. Aims The aims of this unit are to: 1. Assist owners and managers of small to medium business to enhance business growth 2. Assist in strategic and future business developments 3. Enhance SMEs operational skills, market and product development 4. Enhance financial understanding through the use of financial dynamics to better manage the business 2. Outcomes 2.1 Learning Outcomes On successful completion of this unit, students should be able to: 1. Understand who SMEs improve business growth 2. Apply the concept associated with finance and how this impacts on their business 3. Explain what marketing strategies can be used to improve their business reach 4. Identify the future direction and planning needs of their business operations. 2.2 Graduate Attributes and Professional Skills Outcomes Employers worldwide want graduates who have developed effective professional skills and attributes. The CBS graduate attributes and professional skills program includes communication (writing, interpersonal interactions and cultural awareness, and presenting), critical and creative thinking (problem solving and decision making), team work, IT literacy, information literacy, international perspectives and life-long learning. On successful completion of this unit, students should be able to: Curtin Business School, Small Business Growth 501 Page 2 of 7
1. Demonstrate academic writing in the context of their businesses 2. Apply information literacy skills when seeking and investigating the literature in support of written submissions. 3. Syllabus This course will encompass the following topics: Foundations for Growth Business Profiling, Developing Strategic Direction and Planning (Module 1). Financial Management for Growth - Dynamic Financial Management including the application of break-even techniques, maximizing profitability, controlling cash, calculating true working capital requirements and the concept of controlled, incremental growth (Module 2). Marketing for Growth including both strategic and applied marketing techniques and the sales workshop (Module 3). 4. Materials 4.1 Texts, References, Other Resources 4.2 Texts There is no set textbook for this Unit. Students will be supplied with course materials through the program and are encouraged to supplement with other readings as desired. Journals and other sources are recommended for researching assignments. 4.3 References The following references will be useful: Michael E. Gerber, 1995 The e-myth [revisited]: why most small businesses do not work and what to do about it, Harper Business. ISBN 0-88730-728-0 David Hall and Dinah Bennett, 2000 The Hallmarks for Successful Business [Second Edition], Management Books. ISBN 1-85252-274-7 David Hall, 1999 In the company of heroes an insider s guide to entrepreneurs at work,. Kogan Page. ISBN 0-7494-3060-5. Gary Hamel, 2000 Leading the revolution, Harvard Business School Press. ISBN 1-5785- 1189-5. Brian Warnes, 1999 The Genghis Khan guide to business Dynamic Benchmarking, [14th edition]. Osmosis Publications. ISBN 0-9509432-0-7. Charles Handy, 1995 Gods of management The Changing Work Of Organizations, Arrow Books. ISBN 0-09-954841-0. Curtin Business School, Small Business Growth 501 Page 3 of 7
Collins and Porras, 1994 Built to last: successful habits of visionary companies, Harper Collins. ISBN 0-8873-0671-3. David Hall, 2002 Doing the business boost your company s fortunes, Virgin Books Ltd. ISBN 0 7535 0680 7 4.4 Other Resources The use of electronic databases to locate relevant articles is also recommended, as you can pinpoint your subject matter. As a general principle search only for articles published over the last four years, but don t hesitate to use classic seminal papers, which are often far older and appear in collections of readings. Do not neglect other contemporary sources such as Business Review Weekly, Dynamic Small Business, Small Business Success and other publications, which report on the current situation in Australian small business. Websites: The Internet can serve as a useful reference tool for your studies. However, it must always be remembered that whilst the web may serve as a starting point, it should augment, not substitute, other sources of scholarly and business research. The Small Business Development Corporation of Western Australia http://www.sbdc.com.au/ Australia's Business Entry Point provides a wide range of practical information about running a small business: http://www.business.gov.au/ The Yellow Pages Global Entrepreneurship Monitor Australia 2000 contains a wealth of information on entrepreneurial activity and behavior in Australia: www.gemaustralia.com.au Other SME Resources Around the World: - http://www.info.gov.hk/sme/other_economies.htm The Global Entrepreneurship Institute: http://www.gcase.org The Ewing Marion Kaufman Foundation for Entrepreneurship: www.emkf.org The Center for Entrepreneurial Leadership Clearing House on Entrepreneurship Education: www.celcee.edu For details of various business models see www.valuebasedmanagement.net/index For information on how to use the Internet as a research tool, click on to: http://www.curtin.edu.au/curtin/library/guides/infotrekk Curtin Business School, Small Business Growth 501 Page 4 of 7
5. Timetable of Classes Workshop Subject Work smarter, not harder Focus and direction Communication /Achieving the vision $$$ Basics and profitability Liquidity and KPIs Developing effective marketing strategy Implementing your marketing strategy Getting more from your sales effort Valuation & Keeping it legal Business Communications & Program review Please note there is no need to attend additional classes as all these topics are covered in the Growth Program 6. Program Calendar Assessments are due for Semester One on the following dates Date Assessment Due 3 April Assignment One Financial Analysis 30% 14 May Assignment Two Strategy Plan 50% 14 June Mentor Report 20% 7. Assessment 7.1 Assessment Schedule To pass this unit you must submit all assessment activities Task Value (%) Financial Analysis 30% Strategy Plan 50% Mentor Report 20% The assessments are due as per the Program Calendar above. Curtin Business School, Small Business Growth 501 Page 5 of 7
7.2 Assessment Details 7.2.1 Financial Analysis Financial Analysis A financial analysis of your business (30%) In this assignment, you will need to undertake a full financial review of the performance of your business over the past three years [minimum] using the financial dynamics techniques. Specifically, you will need to present a breakeven analysis, gross margin analysis, calculation of the true working capital needs of the business [and any associated external borrowing requirements], funding analysis and estimate of the acceptable growth parameters of their business on an annual basis using the concept of controlled incremental growth. Graphics should be used extensively in this assignment, but must be accompanied by a concise narrative that interprets the historical financial information provided and sets out a coherent strategy for maximizing profitability, reducing working capital requirements [if possible] and managing the financial aspects of future growth plans. Word length: 2,000 words maximum [+ / - 10%], excluding graphical data. Due date: 3 April 2012 7.2.2 Strategy Plan Strategy Plan - Individual assessment of the changes required for growth (50%) In this assignment, you will need to examine your own business and personal development using three of the models presented in the Foundation and Strategic Planning workshops. Please select three (3) from the following list: the Curtin Temple of Growth Model, SWOT Analysis, the Ansoff Matrix, the Porter Model or the Price/Quality Matrix. You will need to consider the literature relating to the three models you select and examine in detail what the current thinking of these models suggests. You should include in your discussion your current performance base, the existing platform and potential for future growth and examine how your business can progress via a selection of a product or market development strategy. A careful assessment should be made of the degree and nature of the change required to move your business forward. It will be particularly useful to provide an individual self-assessment of the changes that you believe need to be made on a personal level. The assignment must include: a title page, table of contents, introduction, summary/conclusions and references. The format should be A4 paper with a font size of 12cpi. An assignment cover sheet must accompany submission of the essay. You should use the Chicago Referencing Style to acknowledge your sources of information in this assignment. Information on this referencing style can be found at the Library web site: http://library.curtin.edu.au/research_and_information_skills/referencing/chicago.pdf Word length: 4,000 words [+ / - 10%]. Due date: 14 May 2012 Curtin Business School, Small Business Growth 501 Page 6 of 7
7.2.3 Mentor Report Mentor report (20%) Course Mentors will submit regular progress reports to the Centre for Entrepreneurship (C4E) and these will be assessed by the C4E Mentor Coordinator. The Mentor Report assessment will be aligned with your learning based on Kolb s (1984) Experiential Learning Model (refer to notes from day one of the Growth Program), your engagement with your Mentor and managing the Mentor relationship. 7.3 Assessment Compliance Information Due dates will be strictly adhered to. Extensions will be granted only in cases of demonstrated urgent need. It is your responsibility to check the due date. Official release results for this unit are published on Oasis on the Curtin website. http://oasis.curtin.edu.au 7.4 Penalty for Late Submission of Assessments e.g. If assignments are not submitted by the due date, a penalty of 5% per day will be deducted from the assessment mark and after seven (7) days a zero mark will be recorded.> It is the student s responsibility to keep appropriate copies/backups of every assignment submitted. 8. General Information Please see the Curtin A-Z Guide 2010 as described on Page 1 of this document for important general information. This information can also be accessed at http://www.business.curtin.edu.au/files/a- Z_Guide_20101.pdf. END OF UNIT INFORMATION Curtin Business School, Small Business Growth 501 Page 7 of 7