Pass Marks: 35
Lecture Hours: 150
Course Objectives:
The main objective of this course is to provide basic knowledge and practice of entrepreneurship and small
business management.
Course Description:
This course contains meaning of small business, causes of failure of small business, importance of location of
business, nature and importance of management, nature of capital needs, factors for product-line decision, sources
of long-term funds, management of small retail store.
Course Details:
Unit 1: Introduction LH 7
Concept, becoming an entrepreneur, key elements of entrepreneurship, characteristics of successful
entrepreneurs, common myths about entrepreneurs, types of start-up firms, Importance of
entrepreneurship- entrepreneurial firms, society and larger firms, The process of new venture creation, ;
Entrepreneurship Vs entrepreneurship Vs salaried employees; Comparative advantage and disadvantages
of salaried employment; Positive and negative aspects of entrepreneurship; Entrepreneurship
qualifications Entrepreneurship development in Nepal.
Unit 2: Meaning of Small Business LH 12
Relative importance of small business; Features of small business in developed and developing countries;
Small business in Nepalese economy; Strengths and weakness of small business; Importance of small
business; Role of human resources in small business, Identifying and recognizing opportunities- observing trends and solving problems, personal characteristics of the entrepreneur, techniques for
generating ideas, encouraging and protecting new ideas; linking creativity, innovation and
entrepreneurship.
Unit 3: Causes of Failure of Small Business LH 17
Sources of idea generation for small business; Different ways of business ownership; Pros and cons of
buying, inheriting and starting a new business; Forms of business organizations and their relative
importance; Introduction and role of small business promotion centre; Role of Ministry of Commerce and
Industry in promoting and strengthening small business in Nepal; Acts regulating small business in Nepal.
History and evolution of franchising opportunities; Relative advantages and disadvantages of franchising;
Evaluating franchising opportunities; Scope and practice of franchising in Nepalese context; Failure
symptoms; Failure trend of small firms in Nepalese economy.
Unit 4: Importance of Location in Business and feasibility Analysis LH 16
Factors affecting location sustainability; Choice of location; Agencies that assist in choosing location;
Special location problems for small wholesaling, service and retailing business; Physical facilities and
their minimum requirements; Factors in acquiring appropriate physical facilities; Problems of physical
facilities; Layout of physical facilities; Effective use of physical facilities, Concept, product/service
feasibility, industry/target market feasibility analysis, organizational feasibility analysis and financial
feasibility analysis.
Unit 5: Nature and Importance of Management and Start-Up of Business LH 28
Management functions and their applicability; Sources of management assistance; Management of time in
small business; Economics of small business strategy; Objectives of small business; Social responsibility
of small business; Small business and firms; Planning in small firms; Steps In planning procedure; Types
of plans; Decision-making functions and its relevancy; Steps in decision-making; Major quantitative tools
to aid decision making; Organizational structures and their comparative advantages and disadvantages;
Formal and informal organizational structure; Factors for effective organization; Recruitment and
selection; Use of personnel manager and important personal functions; Human relations approach; Factors
for good human relations. Recruiting and selecting key employees, selecting a market and establishing a
position, key market issues for new ventures, the 4 Ps of marketing for new ventures; Nature of business
growth, planning for growth, reasons for growth and managing growth, knowing and managing the stages
of growth, managing capacity, day-to-day challenges of growing a firm.
Unit 6: Nature of Capital Needs LH 11
lenders and investors, funding requirements, sources of personal financing, venture capital, commercial
banks, sources of debt financing; Estimating capital requirements; Sources of funds; Nature of credit
selling; Decision in relation to terms of sales: cash or credit; Procedure in credit operation.
Unit 7: Factors for Product-line Decision LH 14
Factors for pricing decision; Elements of personal selling; Advertising and sales promotion; Marketing
research techniques and activities; Motivation research; Use of consultants in marketing research.
Unit 8: Sources of Long-term Funds LH 12
Concept and application of capital budgeting in small business; Maintenance of accounting records;
Preparation of financial statements; Analysis of financial statements to facilitate management control.
Unit 9: Management of Small Retail Store LH 23
Operating method of small retail store; Problems and deficiencies in the operations of small stores in
Nepal; Service firm; as a small business; Operation and unique characteristics of service firms; Material
and alike problems of service firms in Nepal; Operation of small manufacturing plant as small business;
Operating methods; Focus and problems of small manufacturing plants in Nepal.
Project Work LH 10
After the completion of fourth year concentration classes the students shall have to prepare and submit a project
work in the area they have specialized. The subject teachers have to discuss with students on possible topics of the
project work, availability and sources of literature, availability of data, data collection methods, appropriate tools
of data analysis, etc relevant to the subject within 10 lecture hours.
Basic Books:
Siropolis, N. C., Small Business Management, Houghton Mifflin Company, Dallas
Broom, H.N., J.G. & Moore, C.W., Small Business Management, South-Western Publishing Co., Dallas.
Reference Books:
Schaper, M., Volery,T. Weber, P. & Lewis, K. Entrepreneurship and Small Business, 3rd Asia-Pacific Edition.
Barringer, B.R., & Ireland, R. D., Entrepreneurship: Successfully Launching New Ventures, Pearson.
Holt, D.H. Entrepreneurship New Venture Creation, New Delhi: Prentice-Hall.
Mariotti, S. & Glackin, C., Entrepreneurship and Small Business Management, Pearson.
Zivetz, Lausiz, Private Enterpise and the State in Modern Nepal, New Delhi: Oxford University Press
Steinhaff, Dan & Burgess, J.F., Small Business Management Fundamentals, Tokyo: McGraw Hill
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