Lecture notes Small Business Management

Small Business Management (SBM) notes typically cover essential concepts, theories, and practices for managing and operating a small business. Here's an in-depth overview of the topics commonly covered: *Unit 1: Introduction to Small Business Management* 1. Definition and characteristics of small businesses 2. Importance of small businesses in the economy 3. Types of small businesses (sole proprietorship, partnership, corporation) 4. Entrepreneurship and entrepreneurial mindset *Unit 2: Business Planning* 1. Business plan definition and purpose 2. Components of a business plan (executive summary, company description, market analysis, etc.) 3. Market research and analysis 4. Financial planning and projections (revenue, expenses, break-even analysis) *Unit 3: Organizational Management* 1. Business structure (functional, divisional, matrix) 2. Human resource management (recruitment, selection, training) 3. Leadership styles and theories (trait, behavioral, contingency) 4. Communication and interpersonal skills *Unit 4: Marketing Management* 1. Marketing mix (4Ps: product, price, promotion, place) 2. Market segmentation and targeting 3. Branding and positioning 4. Digital marketing (social media, email, SEO) *Unit 5: Financial Management* 1. Financial statements (income statement, balance sheet, cash flow) 2. Financial ratios and analysis (liquidity, profitability, efficiency) 3. Budgeting and forecasting 4. Funding options (loans, grants, investors) *Unit 6: Operations Management* 1. Production and service management 2. Supply chain management 3. Inventory control and logistics 4. Quality management and control *Unit 7: Management Information Systems* 1. Types of information systems (transaction processing, management information) 2. Database management systems 3. Software applications (accounting, customer relationship management) 4. E-commerce and digital payments *Unit 8: Ethics and Social Responsibility* 1. Business ethics and principles 2. Corporate social responsibility 3. Sustainability and environmental responsibility 4. Business governance and compliance