MG354 Small Business Management

for F1F 2012

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Mission Statement: Park University provides access to a quality higher education experience that prepares a diverse community of learners to think critically, communicate effectively, demonstrate a global perspective and engage in lifelong learning and service to others.

Vision Statement: Park University, a pioneering institution of higher learning since 1875, will provide leadership in quality, innovative education for a diversity of learners who will excel in their professional and personal service to the global community.


MG 354 Small Business Management


F1F 2012 QU


Holcombe, Pamela H.


Adjunct Faculty


Master of Business Administration, University of Mary Washington, 2006
Bachelors, Leadership & Management, University of Mary Washington, 2004

Office Hours

By Appointment

Daytime Phone



Semester Dates

August 20 - October 14, 2012

Class Days

Saturday -- Aug. 25 - Oct. 13, 2012

Class Time

8:00 AM - 1:20 PM



Credit Hours


Longenecker, J.G., Petty, J.W., Palich, L.E, & Hoy, F. (2012).  Small business management.  Mason, OH: South-Western.

Textbooks can be purchased through the MBS bookstore

Additional Resources:
The following materials, although not required for this course, may be of interest/assistance to you in this class and in other situations in the future:

Kotter, J.P. (1996). Leading change.  Boston:Harvard Business School Press.

Michalko, M. (2006).  Thinkertoys.  Berkely, CA: Ten Speed Press.

Sutton, G. (2005). Corporate canaries. Nashville, TN: Thomas Nelson, Inc.

Weick, K.E., & Sutcliffe, K.M. (2001).  Managing the unexpected: Assuring high performance in an age of complexity. San Francisco, CA: Jossey-Bass.

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.
Career Counseling - The Career Development Center (CDC) provides services for all stages of career development.  The mission of the CDC is to provide the career planning tools to ensure a lifetime of career success.
Park Helpdesk - If you have forgotten your OPEN ID or Password, or need assistance with your PirateMail account, please email or call 800-927-3024
Resources for Current Students - A great place to look for all kinds of information

Course Description:
MG354 Small Business Management: A detailed study of the relation-ship and functions of accounting management, financial management, and marketing in the successful initiation and operation of a small business. 3:0:3

Educational Philosophy:
Your instructor's educational philosophy is centered on a belief that learning is a simultaneous journey undertaken by the students and the instructor.  To accomplish the journey, I rely upon lectures, readings, homework assignments, tests, case studies, examinations and discussions to encourage student engagement in the exploration of ideas, issues and contradictions.

Learning Outcomes:
  Core Learning Outcomes

  1. Define the term “small business”.
  2. Explain how owning and operating a small business is different from operating other types of businesses.
  3. Identify the factors that make a family business unique.
  4. Identify the major advantages and limitations of franchising.
  5. List some reasons for buying an existing business.
  6. Describe the characteristics of highly successful startups.
  7. Describe the purpose and contents of financial statements.
  8. Explain how risk management can be used in coping with business risk
  9. Explain the importance of having an exit strategy.

Core Assessment:
All Park University courses must include a core assessment that measures the course's Core Learning Outcomes. The purpose of this assessment is to determine if expectations have been met concerning mastery of learning outcomes across all instructional modalities. 

 For this course, the core assessment is a Comprehensive Final Examination to be administered in all sections of MG 354. This exam is worth at least 30 percent of the student's final grade and will test students' mastery of the Core Learning Outcomes (as listed on this syllabus) through definitions, essay, and/or multiple choice questions. 

 This core assessment is a CLOSED BOOK, CLOSED NOTES comprehensive examination that must be administered and proctored in the classroom and may not be given as a take-home examination. Students should not have access to the exam or its questions before it is administered. The duration of the exam can be no longer than two hours. 

 No computers, or materials other than a writing instrument and a calculator without text functions and communication may be used for the exam; this applies to all students, regardless of whether the exam is for on-line or face-to-face students. Completion of the exam is strictly individual; students may not work in groups to complete the exam.

Class Assessment:

Class Participation

      Participation is graded on a scale from 0 (lowest) through 4 (highest), using the criteria below, with grade points awarded accordingly.  The criteria focus on what you demonstrate and do not presume to guess at what you know but do not demonstrate.  The average level of participation is expected to met the criteria for a "3".


Level / Pt. Award


0 / 0


1 / 3

·  Present, not disruptive.

·  Tries to respond when called on but does not offer much.

·  Demonstrates very infrequent involvement in discussion.

2 / 6

·  Demonstrates adequate preparation: knows basic case or reading facts, but does not show evidence of trying to interpret or analyze them.

·  Offers straightforward information (e.g., straight from the case or reading), without elaboration or very infrequently (perhaps once a class).

·  Does not offer to contribute to discussion, but contributes to a moderate degree when called on.

·  Demonstrates sporadic involvement.

3 / 9

·  Demonstrates good preparation: knows case or reading facts well, has thought through their implications.

·  Offers interpretations and analysis of case material (more than just facts) to class.

·  Contributes well to discussion in an ongoing way: responds to other students' points, thinks through own points, questions others in a constructive way, offers and supports suggestions that may be counter to the majority opinion.

·  Demonstrates consistent ongoing involvement.

4 / 15

·  Demonstrates excellent preparation: has analyzed case exceptionally well, relating it to readings and other material (e.g., readings, course material, discussions, experiences, etc.).

·  Offers analysis, synthesis, and evaluation of case material, e.g., puts together pieces of the discussion to develop new approaches that take the class further.

·  Contributes in a very significant way to ongoing discussion: keeps analysis focused, responds very thoughtfully to other students' comments, contributes to the cooperative argument-building, suggests alternative ways of approaching material and helps class analyze which approaches are appropriate, etc.

·  Demonstrates on-going, active involvement. 

 Note:  Because of the nature of class participation, be advised that (a) you cannot earn participation points if you are absent and (b) there is no "make up" for missed participation points.

Homework Assignments

There will be six written homework assignments. These assignments will be discussed and graded during the class at which they are due. Consequently, late submissions will not be accepted. Details regarding the nature of each homework assignment will be provided in the first class meeting (Saturday, October 25, 2012) and will be posted on e-Companion following the first class.

Each homework assignment is valued at 20 points. The lowest homework grade earned will be dropped from your final grade computation, allowing you to miss one homework assignment without penalty. 

Due dates for homework assignments are the beginning of class on September 1, September 8, September 15, September 22, September 29 and October 6.

Case Study Analyses

Students will write two case study analyses during this course.  The first analysis (PortionPac Chemicals) is worth up to 195 points and is due by 11:59 PM on September 16, 2012.  The second analysis (Pegasus is worth 200 points and due by 11:59 PM on October 8, 2012.

Information on both of these assignments will be provided during our first class meeting and posted to e-Companion.
Case study analysis documents must be submitted by uploading to the appropriate drop box by their scheduled due dates.
Late submissions of the Case Study Analysis assignments will not be accepted more than 24 hours after the scheduled deadlines.  Please see the section "Late Submission of Course Materials" for penalties assessed for late submissions.

Case study analysis documents are expected to comply with the “Guidelines for Written Work” that appear below.

Mid-Term Examination

The mid-term examination will be administered during the last 1.5 hours of class on September 22, 2012.  The examination will cover all readings, lectures and discussions regarding Chapters 1-9, 13, 15-17 and 23 and will consist of multiple choice and true/false questions.  The mid-term examination is worth up to 100 points.

Final Examination

The final examination for this class will consist of two sections: an objective portion and an essay portion. The objective portion of the examination will consist of true/false and multiple choice questions. The essay portion will consist of several short-answer essay questions related to the theories and concepts covered in the course. 

Both sections of the final examination are comprehensive. All of the concepts and theories encountered in the course readings, lectures, and discussions are candidates for likely inclusion on one or both sections of the final examination.

The final examination will be administered in class on Saturday, October 13, 2012.

 Guidelines for Written Work

      All written assignments for this course are to be treated as business projects and are individual projects.  Each assignment you submit must reflect your own work.  Assignments are to be completed on time and should communicate ideas completely, concisely and clearly.

       All written assignments must be typed/word processed and must adhere to the guidelines established in The Publication Manual of the American Psychological Association (6th edition) [APA].  Remember to cite all direct quotations and/or paraphrasing of others' work.  If you have questions regarding formatting of in-text citations, reference list entries, or other APA related issues, please talk with your instructor, contact the Park University On-line Writing Center (accessible through e-Companion), or refer to the Purdue University On-line Writing Lab (OWL) -- an excellent source of guidance and information regarding APA requirements.  You may access the Purdue University OWL at:

      Written communication is essential in your professional and academic endeavors.  Consequently, written assignments submitted with excessive errors (e.g., punctuation, grammar or spelling) will be penalized or returned without grading.

      The following criteria will be considered in the evaluation of your written work for this course (in addition to any criteria specific to a given assignment):

  • Compliance with assignment requirements
  • Correct usage of course theories and concepts
  • Thoroughness of analysis, including evidence and/or support for your position(s)
  • Completeness of response (do you fully answer the question(s) asked)
  • Overall quality of writing



Point Value

Due Date

Homework Assignments (10%)


9/1, 9/8, 9/15, 9/22, 10/6/2012      8:00 AM

PortionPac Chemical Case Study   (19.5%)
Pegasus Travel Case Study (20%)
9/16/2012, 11:59 PM
10/8/2012, 11:59 PM
Class Participation (10%)


Weekly, Classes 1 - 7
Mid-Term Examination (10%)



Final Exam:  Objective Portion (15%)


10/13/12, in class

Final Exam:  Essay Portion (15%)


10/13/12, in class

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business.

Late Submission of Course Materials:
Homework Assignments:  Because homework assignments will be discussed during the class in which they are due, late submissions will not be accepted.  Students who have an excused absence my submit their written homework assignment to the instructor via email ( the night BEFORE the homework assignment is due. 

Case Study Analysis:  Case Study Analysis documents submitted up to 24 hours after the scheduled due date will be accepted, with a penalty.  Submissions made after the scheduled due date/time (11:59 PM on 9/22/12 for PortionPac Chemicals and 11:59 PM on 10/8/12 for Pegasus Travel), will be assessed a ten (10) point penalty on the final grade for the assignment.  

Case Study Analysis documents submitted more than 24 hours after scheduled due date/time will not be accepted and the student will receive a ZERO grade on the assignment.


Classroom Rules of Conduct:
This course will pass very quickly.  It is important for you to keep up with the reading.  You are expected to complete all assigned readings before coming to class.  The readings are necessary to give you an understanding of course material.  Time constraints make it impossible to cover every topic from the readings in class; however, you are responsible for all assigned material.  Consequently, it is imperative that you ask questions about topics you do not understand or for which you feel you need additional information/explanation.  Your questions regarding any area of this course are encouraged.

Your instructor is not a mind reader.  If you are having difficulty with any aspect of the course, talk to me -- during class breaks, after class, by telephone or e-mail.  As your instructor, I will assist you in any way possible.

Your classmates and your instructor will appreciate your observance of the following:

  • Courtesy and respect are critical components of everyday life.  Everyone is encouraged to participate in class discussions and offer differing points of view.  Please be mindful that your tone, choice of words, and demeanor should always be respectful and appropriate to a business/academic setting.
  • If you come into class late, please enter the room quietly -- without apologies or comment -- and take the closest available seat.  This will reduce disruption to the rest of the class.
  • If you must leave class early, please discuss your early departure with the instructor before the class begins or at the break.  Sit as close as possible to the door.  Gather your belongings and leave without apologies or comment to minimize disruption to the rest of the class.
  • If you find it necessary to step out of the classroom for a moment, please do so as quietly as possible to minimize disruption to your classmates.  It is not necessary for you to request the instructor's permission. 
  • Students who arrive late or leave early are responsible for checking with the instructor or a fellow student regarding what information or assignments they may have missed.

Your reward for reading this far in the syllabus is 15 points extra credit.  To "claim" the extra credit points, email the following note to your instructor ( by no later than 6 AM on Saturday, September 1, 2012.  There will be NO EXTENTIONS on this deadline.

Course Topic/Dates/Assignments:

Date                                 Assignment                                                   Due Date
Aug. 25            Chapters 1-3                                              Aug. 25, 2012
                         Case Study Analysis                                  Oct. 8, 2012, 11:59 PM
                         Chapters 4, 5, 13 & 6                                Sept. 1, 2012
                         Homework #1                                            Sept. 1, 2012
Sept. 1            Chapters 4, 5, 13 & 6                                 Sept. 1, 2012
                        Chapters 23, 8, 19 & 15                            Sept. 8, 2012
                        Homework #2                                            Sept. 8, 2012
Sept. 8            Chapters 23, 8, 19 & 15                           Sept. 8, 2012
                        Chapters 9, 7, 16 & 17                              Sept. 15, 2012
                        Homework #3                                            Sept. 15, 2012
Sept. 15          Chapters 9, 7, 16 & 17                             Sept. 15, 2012
                        Chapters 10 & 11                                      Sept. 22, 2012
                        Homework #4                                            Sept. 22, 2012
Sept. 22          Chapters 10 & 11                                      Sept. 22, 2012
                        Chapters 12, 14 & 20                                 Sept. 29, 2012
                        Homework #5                                             Sept. 29, 2012
Sept. 29          Chapters 12, 14 & 20                                 Sept. 29, 2012
                        Chapters 21, 22 & 18                                  Oct.. 6, 2012
                        Homework #6                                              Oct. 6, 2012
Oct. 6             Chapters 21, 22 & 18                                  Oct. 6, 2012
                        Case Study Analysis                                     Oct. 8, 2012, 11:59 PM
                        Exam Review                                             
Oct. 13            Final Examination                                         In Class

Academic Honesty:
Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life. Park University students and faculty members are encouraged to take advantage of the University resources available for learning about academic honesty ( or Park University 2011-2012 Undergraduate Catalog Page 95-96

Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. from Park University 2011-2012 Undergraduate Catalog Page 95

Attendance Policy:
Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F".
  4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

Park University 2011-2012 Undergraduate Catalog Page 98

Disability Guidelines:
Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: .


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Last Updated:7/19/2012 7:51:12 PM