ENT 145 Introduction to Business Ownership

Lecture Hours: 3
Credits: 3

Evaluates the business skills and commitment necessary to successfully operate a business venture and reviews the challenges and rewards of business ownership.

Prerequisite: Placement into WR 115 (or higher), or completion of WR 090 (or higher) with a grade of C or better; or consent of instructor.
Maximum number of credits course can be taken for: 3

Student Learning Outcomes:

Define the role of the business owner in a business venture.
Describe the entrepreneurial profile and evaluate their own potential as a business owner.
Describe why creativity and innovation are an integral part of business ownership and entrepreneurship.
Discuss the importance of continually analyzing, adapting, and improving the business.
Explain why and how a business must create a competitive advantage in the market.
Explain the importance of effective financial management in developing, growing, and sustaining a business venture.
Relate the importance of legal resources to the successful operation of a business.
Identify the opportunity and impact of technology to business ventures.
Analyze global issues and opportunities for businesses.

Content Outline

Business Ownership Today
- The nature of business ownership
- Personal entrepreneurial characteristics
- Advantages and disadvantages of business ownership/entrepreneurship as a career choice
- Financial, management and legal resources necessary to successfully operate and grow an business venture
How Business Owners Move Ideas to Reality
- Importance of creativity and innovation
- Importance of continual analysis, adaptation and improvement to the business
- Methods utilized for continuous improvement of products and services
Strategic Management for the Business Owner
- Competitive advantage and its importance for the business venture
- Effective financial management
- Importance of legal resources
- Impact and opportunities of technology
- Global aspects of business