Foundations of Small Business Operations

This unit develops core financial, legal, marketing, and human-resource competencies needed to start and sustain a small business. Students build on introductory concepts to analyze financial statements, select appropriate business structures and tax treatments, create branding and marketing plans, and design HR and ethical practices that prepare them for deeper operational and growth topics in subsequent units.

Learning Objectives

• Analyze balance sheets, statements of cash flows, income statements, and related accounting cycle elements to evaluate liquidity, solvency, cost of goods sold, and the variance between net income and cash flow.
• Apply business-formation and tax principles to determine partnership filing requirements, corporate tax implications, franchising options, home-based business considerations, and site/encroachment policies.
• Develop a cohesive brand and marketing communications plan—incorporating visual identity, social media (e.g., Twitter) presence, niche targeting, and strategies to control or adapt the marketing program in flat or shrinking markets.
• Evaluate human-resource and ethical strategies by creating SMART goals, recruitment and employee-development plans, delegation processes, customer-service resolutions, and a practicable corporate social responsibility implementation plan.