This Week's Assignment Is To Address The Student Learning Ou

This Weeks Assignment Is To Address The Student Learning Outcomes Or

This week's assignment is to address the student learning outcomes (SLOs) for BA 153 Small Business Management. SLOs are statements that specify what students will know, be able to do, or demonstrate upon completing the course. The SLOs for BA 153 are as follows:

  • SLO #1: Create a business plan that signifies the advantages and challenges of the proposed business.
  • SLO #2: Recite the advantages and disadvantages of self-employment.
  • SLO #3: Identify the important records that must be kept by a small business.
  • SLO #4: List the basic steps involved in making a sale.

Paper For Above instruction

Understanding and achieving student learning outcomes (SLOs) is fundamental to the success of any educational course, including BA 153 Small Business Management. These outcomes serve as measurable goals that guide both instruction and assessment, ensuring that students not only acquire knowledge but also develop practical skills necessary for managing small businesses effectively.

One of the primary SLOs in this course is the ability to create a comprehensive business plan, highlighting the advantages and challenges associated with a proposed business. Developing such a plan requires a thorough understanding of business fundamentals, market analysis, competitive positioning, financial planning, and strategic thinking. A well-crafted business plan serves as both a roadmap for the entrepreneur and a communication tool for potential stakeholders, including investors and lenders. By focusing on the advantages, students learn to emphasize unique selling points, strengths, and market opportunities, whereas acknowledging challenges fosters realistic planning and risk management.

Another critical SLO pertains to self-employment, which is a major aspect of small business management. Students are expected to recite the advantages, such as independence, flexibility, and financial potential, and the disadvantages, including financial risks, uncertainty, and workload management. Understanding these benefits and drawbacks enables students to make informed decisions about pursuing self-employment and prepares them for the realities of leading a small enterprise.

The third learning outcome emphasizes the importance of record-keeping in small businesses. Accurate and systematic record maintenance is vital for legal compliance, financial management, and strategic decision-making. Students must identify the essential records, such as financial statements, tax documents, payroll records, inventory logs, and customer data. Mastery of record-keeping supports effective business management, simplifies tax preparation, and enhances accountability.

Finally, understanding the basic steps involved in making a sale is fundamental to generating revenue and sustaining a business. These steps involve prospecting, qualifying leads, presenting products or services, handling objections, closing the sale, and following up with customers. Recognizing each stage helps future entrepreneurs optimize their sales processes, improve customer relationships, and increase sales effectiveness.

By mastering these SLOs, students will be better equipped to initiate, manage, and grow successful small businesses. The practical application of creating detailed business plans, understanding self-employment dynamics, maintaining essential records, and executing effective sales strategies forms the foundation for sustainable business operations. Incorporating real-world scenarios, case studies, and experiential activities into the course curriculum can further reinforce the achievement of these learning outcomes and prepare students for the challenges of entrepreneurship.

References

  • Scarborough, N. M., & Cornwall, J. R. (2014). Essentials of Entrepreneurship and Small Business Management. Pearson.
  • Hisrich, R. D., Peters, M. P., & Shepherd, D. A. (2017). Entrepreneurship. McGraw-Hill Education.
  • Lussier, R. N., & Corman, M. (2019). Entrepreneurship: Starting and Operating a Small Business. SAGE Publications.
  • Brigham, E. F., & Houston, J. F. (2019). Fundamentals of Financial Management. Cengage Learning.
  • American Small Business Development Center. (2020). Small Business Recordkeeping. Retrieved from https://americassbdc.org/
  • U.S. Small Business Administration. (2021). Make the Sale. Retrieved from https://www.sba.gov
  • Kurato, D. (2017). Small Business Management & Entrepreneurship. Routledge.
  • Jones, T. M., & Schmid, B. (2020). Entrepreneurship and Small Business Management. Routledge.
  • Richards, G. (2018). The Small Business Lifecycle and Record-Keeping. Harvard Business Review.
  • Zahra, S. A. (2018). Entrepreneurship and Innovation. Routledge.

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