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-Bauer, Robert 0.1.Small.Business Goes To College. College andUniversitT Courses in Small.Business Management andEntrepreneurship.Small Business Admin4.strationv Washington, D.C.7888p.Superintendent of Do nts, U.S. Government PrintingOffice,. Washington, . 0402 (Stock No.045-000-00159-0)

MF01/PC84 Paus Postage.Business idainietction; *Business Education;Business EducatidieTeachers; Cost iffect±veness;*Course Descriptias: *Curriculsm Development;Depaitments; Educational Hittory; Higher-Education;Institutional characteristics; InstructionalMaterials; *Management Education; Student.Interests;TeacIling Methods

IDENTIFIERS *Entrepreneurship; Small Business Kdministration

ABSTRACTThe movement of small business management coes

into colieg university curricula is discussed. Tht pre'sent. state,of small bu4 s management, courses, the objectives of the ccurses,the.varietv o courses being offered, and teacher and studentreacticn to the colirsos are examinad.. A historical overyiev- of smallbusiness courses at higher education'institUtions is presented, and.,the role of the Small Business Adiin4.stration in the rekpid increase-of smill business course offer,ings is oted. Seven cdurse objectives .

in small business education programs at outlined and_brieflydescribed. The large variety of small b siness management courses,various teaching techniques, and courseiformats are investigated. A;ist of suggested texts and course materials for_use.in small.business courses is included. Experientes at various small businessprograms in several institutions are presented anj, include bothstudent and faculty opinions. Appended is ,a list of scho;ls offering''courses in small business management and ent4epreneurship. (SF)

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Small Business AUG 111979

Goes to CollegeJ

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/U S. Small Businpss Administration

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mall Businesss to College

College and-University Coursesin Small Business Management

and Entrepieneurship

By Robert O. Bauer

Small Business AdministrationWaslington, D. C. l97#

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.11/1ALL BUSINESS 'A MINISTRATION

OFFICE OF MANA

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MENT I'NFORMATION ANDTRAINING

For %air` by the Smperintendent of Documents. I: 5. Gust:lament Printing OtherWashangton. D C Y0402

Stock No e., 00,0.00158 0A

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Small BusinessGoes to Collegeintro*aucti

Chapter 1 Today, Yesterday, and Tomorrow 5

Chapter 2 Why Teach Small Business? 18

tChapter 3 Variety in a Dynamic Field 25

Chapter 4 Texts and Materials 44

Chapter 5 Teacher and Student Re ctions 53

Chapter 6 On Aalance 60

Appendix -Schools Offering Courses in 63Small Business Managementand Entrepreneurship

AbO Ut ThesA uthQr-Robert; 0. Bauer isithe Associate Director of Adminis-

trative-AT-vices for the University of Wisconson-ExtensionCivic:.Ceinerb Campus in Milwaukee,'' Wisconsin. He hasheld this position for 12 years-after serving as member ofthe faculty in the Extension Departinent of Commerce. Healso laugh/ at the Univeisity of Wichita, Kansas and theUniversity of Illinois. He is past president of the NationalCouncil for Small Buskness Management Development andis now the General*Secrethry of the International CoUncilfor Small,Business, the Council'S newly-adopted name. Healso serves on the Editorial Advisory Board of the JOURNALOF SMALL BUSINESS MANAGEMENT.

Mr, Bauer holds a Bachelor of Science degree in Busi-ness Administration from ihe niversity of Wichita, and aMaster in Letters from the G duate Schpol of Business atthe University of Pitts He has completed courseyork toward a Doctor6f usiness Adrninistration at theUniversity of Illinois.

His business experience inctudes ,middle managementpositions in tilt merchandising\and operating divisions ofseveral large and srrtall department and specialty stores.He also served as an administratiye assistant in an interna-tional trade association at currently is involved in theadministration of severak<state and regional trade associa-tions. He is a 'consulting associate in a private managementconsulting firm in Milwaukee.

Mr. Bauer's long term relationship witii the SmallBusiness Administration dates back to 1958, In Ile yearhe produced an Administrative Management Institute at the'University of Wichitii in cooperation with the SBA.

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Introauction

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Small business management has come a long -way inthe past several' deddes. A short dme ago it was not x col-lege:level subject. Those who practiced it' in the marsketplace did so by trial- and error. When their sons anddaughters went to college, they,learned 'that collekes anduniversities did not offer courses intsmall business'

, minagerhent.-"1- Before and shortly after World War II, business

courses in higher education were in business 'administra-tion. The emphasis was on prepatingm.udents for careerswith large corporations and with other highly structuredorganizations. ,

Now some 200 universities and c6lleges offer coursesin small business or in entrepreneurShip, sometimes inboth.

What happened 'during the last '25 to 30 years tocause this change? Why this emphasis on small business'in college? Why did small business become intellectuallyresEtec tabl e?

o answer these questions for owners of small businessesis the primary purpose of this booklet, Small Business Goes

I' to College. It is,intended to provide windowssinto the class-rooms and laboratories of colleges and universities bysampling' what is happening in one. of the most dynamic

. subjects in America, small business management. Thebooklet should also be useful to educators who seek guid-ance in developing courses in small business and,to coun-selors who seek sources to recommend lOr their cliepis'self-development..

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To provide these glimpses much of the material in thisbooklet is adapted from a ,report, Course Offerings inSmollBusiness ManagementlEntrepreneurship. It was publishedlate in 1977 by the International Council for Small Busi-ness, an organization that was founded in the late 1950's asthe Nzttional Cotmcil for Small Business Managementvelopment:

Courie Offerings is a 500-page book which provicIt's adetailedsaccount of courses in small business managementand ebtrepreneurship offered by. graduate hminessschoof;, .four-year colleges' and nniversitie:s. Like smallbusiness minagement, this report evolved. It was preparedby George T. Solomon, George Washington Universityfac4lty member and Small Business Administratim re-,

, search associate, and Marc D. Sollosy of Alexandria, Vir-ginifIvho is a consultant. Drowing upon what Had alreadybeen done, they included syllibi which Lawrence Klatt ofParicia Atlantic University had gathered earlitr as wellas411ibi collected by Richard Klein of Temple University andsyllibi gathered by Karl Vesper of the University 'of Wash-ington. .

Different people have digerent views' about the con-siderable 'growth of small business .management coursts inthe past several decades. Some say the surge of,interest insmall'business in'the early and middle 19701s in the United

_States came a'§ .a backlash Nof_the counterculture yt;uthmovement of the 1960"F which opposed big business, prof-its and other aspects of modern life. The crusading' crythen was, "we want 'to do our own thing.'"

Others wi,11 contradict this opinion and each other.One group will say the Federal Governinent has stimulatedinterest in small business by the activities of the SmallBusiness Administration and by the Senate and fiouseCommittees dealing with small business problems. Anothergroup will say that Government has' hindered small huAi-6eNS growth, by handicapping legislation and excessivepaper-work demands.

Then, th'ere are loyal advocates who regard smallbusiness as' a' vital. Nit of the American destiny. They willhope thtt.it is the persistence of the free enterprise spiritwhich enjoyed a re-birth of interest in small busniess theBiCentennial celebration fieriodl: The contumal efforts ofprganizations and professionl asso'ciations to direct this

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\*spirit back into the economic.sector of the linked States.-could very ea,44 W a ipajor cause of this resurgedke.

hen, rhere are thosr who view what Ilapperted as the-

- result of coopetation among Government, industry. andeducation in tir best sense- of the word. One landmar-k----,date is NO N.vhen. the Congress established tilt& SymillBusincTi Administrafion:

RegAldless of why it is happening "small business" is p.

.1?ecoming "big,busineT" in the eyes of colleges'and uthver-,sities. By using good niarketing principles,sdmolsare be-coming aware of The rapidly, growing demands in the"market place, that is student interest in,new.courses.

Taking a.,seco.nd look at their'"pd

rouct line," deans,A0epartment heads, ;old faculty are respqnding to--the neer!

.44,1\d vsertim..; academic influence to-.Intket ihe call. Institu-trons Ingher education frolleges7 are adding unpre-

*cedented numbers of new courses in small business man-agement and entrepreneurship to their basic business ad-ministration curriculum. Ti;is applies not only to four yearschools and graduate business -schools, but also to thejunior and community colleges and-voc-tech schools. -

The colleges and universities offering courses in smallbusiurss management and in entrepreneurship are spreadfrongFexas to Minnesota, Fri/hi Massachusetts to, Wash:ington, from Georgia to Haw'aii and located ir cities ssuchas New York and Los Angeles and tOwnssuch as Farmvilleand Bellipgharn. Canada is represented. also. These in-,stitutioT are listed in the appendix to this booklet.

"I'he two most popular coursevfocus.on srpall businessmanagement and ,entrepreneurship. Some schools teachthe small business aspects of courses as management oflechnological function, marketing managenwnt, ventureformation,- venture management, venture fiit iations, en-

.trepri.neurial research.

In the 200, schools faculty and students are enthusia-tic about the benefits of.the courses. "The cours2- allowsthe students to be innovative and to seek auswers`throughtheir.own initiative," one West Coast school reports.Anotkher comnwnt: "The students tell us that they corOderdiis course one ofIfie best in the graduate schrol. Oneparticular case forces the student to learn all awects' ofoperating a° business rather tlian being a sppcialist in aparticular field." And from still another school, "the course

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is also quite popular with students who are not..(enrolled inour school of business particularly those -in programswhich logically lead evethually tO small business owner-ship."

The chapters that follow discuss history of the move-ment pi small business management. courses into c011egesand universities and the present s-state of the art," the ob-jectives of the courses, the variety of courses being off ered,texts and materials used, and teacher, and student reactionsto the courses.

ReaderssiGho are familiar' with ale subject know that itdefies superficial description and glib discussion. Theysee rather quiekly that this boolhet does not present easy-to-handle packages of the problems, opportunities, andctallenges that are inherent in "smallibusineSs goes to col-lege Rather, this booklet tries: (1) td suggest the diversitythat exists in college and university teaching dIF small busi-ness management courses; '(2) to hint, at the strengths arldweaknesses in such undertakings; and (3) to encourage arational approach to small businessmanagement.

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Yesterday, Tpday,and Tomorrow

Owners of sinall businesses, educators, and, studentscan gain -an understandiWbf the 'shape small businessmanagement cciurses ma tike .in theliuture and of

- ,"state of the art" today by looking at the hiaory of coursedevelopment over the past several decades. Look now atthe evolution of small business hnanagement ccurses, thevarious needs different types of programs satisfy, and thetypes of students.to which they are directed,

This step back into time is' done 'in three segments:The present bacic, to 1970, 1'970 back to 1953, and Before1953. N

'The Present Back to' 270

The 1970's have been the payoff years in the evolutionof small business going 'to college. Major advances ha4been. made, and are being made, in small business man-agement edpcation in this decade.

One of the pridne movers is the Small Business Ad-ministration, specifically with. its Small Business Instituteprogram. This management assistance resource operateswith the cooperation of faculty a.nd senior and graduatestudents of more than 400 of the Nation's leading schoolsof business. They extend personal counselling to smallbusiness owners. This program since its start in 1972 with86 colleges and universities has been of practical assistanceto small business and has'given valuable 1:real life" experi-

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trice to the' student-counselors, improve&college-communiaty relations, apt? satv'Q some busineAes,from al-tmAt certain bankruincy..

One view U.the impact of the Small Business InstituteProgram' is that of Dr. Joseph Schabacker, professor ofnaloagement, College 'of Busiriess -Administration,Arizona State Univers* His Credentials include a term aspresident of-th'etialional Council for Small BusThess' Man-

S'agement Developthent: As he sees it:

"The entire SBA (Small Business Institute) program in thepast. few years has, in my_opinion, given, the greitest shotjn the :4-, to the 'quality and quantity of credit coursesoffered.tVcademia is really moving now for 'the first time.(I sense the smell of federal funds is the motivator)."

.Another pioneer, justin Longenecker, professor ofmanagement at khe Hankamer School of Business, BaylorUniversity, supports thiti view.. Ile thinks the growth in theearly' 1970's was largely because schools in the Small Busi-ness Institute Program are paid $250 per case ptiksernes-ter.

Another authority in small busineSs management edu-cation is Dr. Karl Vesper, professor of: management in theGraduate School of Business the University of Wash-ington in .Seattle. He hip; stuklIecl trends in course de-velo,Rment in entrepreneurship s nce 1969. He says: "myimpression is that perhaps. around 50 tti 100 four yearschools offered such courses prior to the SRI progra4nwhich began around 1973. But the, effect of sprinkAg alittle money into -schools Willi s?riall business courses, viainitiation,of the Small Business Insti'tute was Phenomenal.In Seattle, For instance, at least two other universitieswhich. were not operating SBI-type courses (we 15id al-ready operated one since 1970 witrout fundingi intro-

liuced new ones Mstantly. This seemed to happen acrossthe country, abd know practically every four year businessschool has at least one small business coluse. I thin1( thi5happened because business schools are not accustomed to

''receiving federal grants. This made the modmi amountavailable through SRI an infinite multiple of wIpt thev bad

/gotten betOre, and therefore apparently appeared verylarge."

11.

Dr, Vesper goes on to say:'Schools ol engineering anil. scientewhich are accus-

tomed to much larger irants Would'Ini.v.e.been. imch less ,-

pxcited by the ziumber of' SRI dollars, particularily in vela-

tion v..;4#rk required to get them, bill business schools,'smrpped at it most eagerly, suddeniy.i.sleraing,.4 see small.business' in a'whole new light." "

'fie points out, 'most business setiloiols haW Oways beenbig business ewiented, tl)ink at least i.

Where their. prior grant money hakbecause that is wkiere prolessUrs ai,(whom by detinition the rest of the Nobtain their lig consulting money. B

F)art,beGause that isne,from and also.1.eleadiv-ig schools

s schocilstt;i. SBI money was

someNjing new, mcl.deliciously string4ree. Once a schoohad tdone its cases' and had them accepted:it recejved the'

,

SBA znortey and,coultNise that money any way -it pleased.This in contrast to most governmental. grants 'irrreivr

. .'whicIr the money is paid whik the work is in process, hotafter the work is done, and the money ...must be u4d torexpenditures required in the work."'

Other outreach programs of. the Small litsiness Ad--'!ministration hciped to create a favorable climate for edu-

cation and, training in small bp$iness managernent:,,Forexample, four area seminars were Yiel,d to encouragf com-

munity colleges in increase their off erin175. These seminarsto explore "Strategies for Serv'ng the Small BusineCommuniry- were held in a.A, nta, San Frincisco../,tLomis, and Hartford, Then, staffs of. several hundredcOmmunity colleges saw'ite slide=tape prosentation, "How.o

To Work With SBA," Many regional conferences wereheld 'as a result of these efforts.

In acklition. SBA representatives attended many na-tional business 'ediu-ators meetings to encourage the estab-lishment of programs: These strong univocused effortswere aimed directly at stimulating additional small businessprograms, sometimes with SBA cosponsorship and some-times indef)endent of it.

,Cairrendy SBA -is, developing a seri s of self-stubooklets c;in small businee management. Users of the.booklets can set their own pace of stiuly. As supplemenstudy materials these booklets can help support the cowof ferings of colleges.

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A New Problem. Appearss,

'In the evolution orsmall' business conrses in cotlege; aproblem t-hat bears watfhing has appeared: This is theproblem of substarke as well as terminology. This problemis'best stated in a queAtion.: What, are the major differencesbetween cOurses, titled small business management 'andthose titled entrepreneurship?

Sclabacker sa, tfiat confusion' cCntinues to stir-rou01 this ,ASue. He s s small business management andentrepreneaship as two.separate functions, satisfying twoseparat 'eds. Many small businesses need pure business

. and man erial gulOance. Many are truly, not innovators orentrepreneurs in cPatiltrict sense of the iAiord. Small busi-ness people and entrepreneurs are not necessarily thesame kind, of people, nor do they have the same educa-tional needs.

Dr. Vesper adds a third dirnension to this two-part con-fusion. He feels that cdursef in business policy have a mul-tiplier effect on the whole scheme of business'courseswhich include small touiness management. In his words:

"A further supporting force has btken expansion of of-ferings in B'usiness Policy' which was brotight about- byAmf:ut (American Assembly of Collegiate' Sc $11,1013 of

Business) decisions to make them 'requisite for accredifk-tion. Business,Policy co rs,e.Kave long been aronnd, to the

4 distress and conlernat' lil.rademics in some fields whoregard thillit. 'too ienpure, -fuzzy and 'ill-delined. This

Arieicii. either ^everybody can teach them or nobody can'teaC them, and therefore.either way they ought not to be'respeciel Traditionally,. these- courses tended to be Or-phaned, f: by th'lemselves, many times taught tfy "mit-to-pasture professors who did little or no research orfishing, except perhaps for wr ing,a case now and then,anothor occupation- sanctimoniously d6pised by many ofthe' academic purists. But when they were finally declaredh-idiLs?ensable, schools had to rrch a better accomrnoda'-

v tion, Thi.created a demand for- policy leachert which inrurn led to' creation of Ai policy'doctoral 1.3- g.ms(examples-Columbia-, Massachusetts', Northwestg,r4jPittsburgh, Purdue, Washington), more policy research,'

'and mote cqurses."

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Dr. Vesper discusses commonality by saying: ,

"The, commonality between entrepreneuFship, smallbusiness, and policy 'is that all three areas deal with the""total husintss enterprise as opposed to its speciakzed-func-tional areas such as finance, marketing, accounting, etc.,from th'e point of view of the chief executive. Hence thereWas a natural alliance of ,Lhree emergent academk 4ields,each ,of. which enjoyed drnerent driving_torces. One ofthese fields, enir*teneurship, has now lost its initial di1114-,

ing force of the activism the 60's, but havi.ngl:recome anarea of -ongoing research 4cl of established courses, it'smomentum continues, although not growing so fast. The

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other two still enjoy the support that got them acceleratinjiand are continuing to grow, partieillOy in iiss,-euch and\are to some*extent pulling .entrepreneurslig withthem."

i)r. Vesper points out that the three fieldssmallbusiness 'manaigement: entrepreneur,ship, and fiolicyseem to be coming on at a time Wien "some others which'Were formerly the great fasi;ion in business :academics havelost their romance." He goes on to say, "Of the three fieldswhich were darlings in the 60's, behaviiirallsciences, quan-titative methodology and, a bit later, Computerology, only,the last seems to still be going strong. The first two seem,at least for the present, to have been panned out. The buzzwords they use are all it decade or more old. The researchpaper's they proiCce seem to he just minor embellishmentsof well-worked-over themes, and their, excitement seems tobe gone.- So the newComers find themselves entering thestage just when the audience has become bowed and wantssomething new."

Dr. Vesper concludes by saying,"Ten years totim now quite possibly entrepreneurship,

small business, and policy will be the fields 4it have be-t come 'stale, but that ukpering off has not yet c.ome into

view,.and I expect that for the foreseeable future they willcontinue IC) boom."

s/1970 to 053

The seventeen years from 1953 to 1970 can well be'called the "staging years. ' In this period, small business,

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-----tand with it nagement development and management-. educaticm, wa coming of age, ..

The year 1953 is a landmark date because itithat yeaf ;the' Congress (if the United States estabfighed the SmallBusiness Adrnipistration(SBW: This enactment grew out

--1"9,f the fact _that M the early 1950's small business begaiLtobe recognized as iisignificlint sigmerit of the eco,nomy.

Part'of that Agency's serVice to the srbali business \community was training it4 management Iv owner-.

miinagers of ,sma/Pfli-ms.. This training was achieved by, , SBA's working closely pwi;th-educational institutionS.in

localitiei., : '. ..

. Tlie facts and flavor of those early years are best re-"tt

called by sei+eral of the 'pioneers who worked in manage-ment training. One of them is Wendell Metcalf, who re-tired from the SBA in 1971 after many years of: serKice inmanagement assistance for small business. At the time:ofhis retifemeia, he was chief of the Education Division, of_fice Of Manvement Assistance. -

, Mr. Metcalf describes the,activities of SBA in thisway: * '.

"A meeting of representatives from universitY businessdepartments, trade associations and 'interested FederalGovernment agencies Was Gilled by the SBA in December1953. This group recommended that the SBA, through itsfield offices, accumulate information 'directly from busi-ness owners A bou t their current manage'tnent problems.This was done throxigh more than 350in-depth interviews.

, The information helpi.d to serve as "asis for the recom-,mended curriculum of the extension courses for smallbusiness managers." lie pointed )ut that "We knew of onlytwo such extension university co rses which had been heldprior to 1953." ,p

Mr. Mettajf saiii. "ln.the spring ol 195.1, two' pilot ex-tension course%,were cosponsored, one at liC University ofWisconsin antf the other at the Onjversity of: Riclmiond.Later, tbe program was e,nlarged4to ;include pre-basinessworkshops: that is, students preparing for small businessproprirtorship as well it persons already engaged in smallbusiness management." .

By 1970, Mr. Metcalf continues ''ovcr 2.000sponsored, training sessions attracted 95,000 small businessowners and 14,H00 prospective small business owners and

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managers auended more than.300 pre-busine,s's., worki,shops. Also. the SBA produced special publications,guidebooks, visual aids and tnotion pictures for use bymall business manageMent educators." .

Mr. Metcalf's work and interest too.k him into the Na--tional Council fbr Small Business 'Management Develop-ment which was formed in 19-57. His participafion in it'continued into r:etirement, and resulted in' his being presi-dent olitthe NCSBMD-from 1974 to.1976. But to return tothe early years of the SBA abd its cwork with cosponsors hfmanagement traini g, it, 'was in those years that he wrotethe SBA book, S ing and Managing a Small Business'ofYour Own.

Mr. Metcalf said he cites the, figures on cosponsoredtraiMng "to support my belief that the SBA did much tostimulate the initiation and growth of small businesscourses in colleges and universities. The extension.courses,in my opinion, stimulated the establishMent of regarcollege undergraduate courses for will business/Of.course, many. of the SBA extension Cqrses "were spon-sored schools, business associations and others, as

; wel is by colleges and universitie's."n tw very beginning when SBA st-arted the pro-

gr. e intention Was to work only with colleges andiversi ies. The ainithy of the colleges and universities at

the tim caused us to abandon- that idea rather quickCo ncing college and university staff members ofnee for and importance of small: business managem t

tral ng was an up-hill habtle."6 'ant Moon, who worked with Mr. Metcalf at SBA in

the ear 60's agrees with Mr. Metcalf' on the impact ofthe growth of the SBA' management 'assistance from twocourses in 1954 to the more than 2,000 sessions in 1970:Dr. Moon rv:alls that. approximately one-third of the'courses were cosponsored with high schools through dis-tributive education programs, and two-thirds were cospon-sbred with universities and C.olleges.

Dr. Moon, who is with SBA as Director of the Sec-retariat of the International Symposium on Small Business,behoves that he may have established the first course insmall business management in the mid- 1952 at theUniversity of Sotith Dakota. Ile foun 1 oy three lextsavailable from malor college 'text puhlish#s They were:

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mod.

S.

How io Run a mall!lusi IPAS by J. K. Lasser,'W)w to Orwinizeand Operate4 Snail Bu'iness by Baumback. Kelley, and

. Lawyer, an Case Book% in .cmall Business Williain Hood.Justin ngeneck6r, PI&Fessor of N nagement lit the

Hankamer School of Business at Baylor University inWaco, Texas, reports tharBaylor l!niversitv was offering acourse in small business management when'he arrived Onthe campus in 1955..After using the text, How to Organizeand,Operate a Snthll 131tAirMSS* he and Dr. fl. N. Broom, who'als4 ht the course, decided therevwas rOorn for a cornpti -

ext. They wrowit and it yas published' aS -Smallgusktess Management in.1961. At the time. he had (he im-pression that such a course was offered M only a n 'mintyof the colleges and universities. In general, '-the iurselarked prestige and was often regarded as a mickeymouse- offering. Even so, he found that students re-sponded fqvorable and that they appreciated the practicalaspects and emphases of the course. .

jowph Schabacker,.who was, at the University ofCalifornia EXtension at Los Angeles, California and i t theUniversity of Wisconsin Extension during thi: nod re-calls very few courses in small business. He said the, Uni-versity- of California F.xkension' offered nothing ,in creditclasses. ..

'''t Df. Schabacker recalls a splurge Of non-credit coursesand a trickling of credit Courses throughout the country as :

the result of severakefforts. One Of these efforts was a con-ferepce On -The Problems of Trainini-Smidl BusinessExecutives" in 1956. It Was financed by The Ford Founda- ....--tion and held in Boulder. SBA cooperated with 'the Uni:

..

versity of Colorado in exploring belief ways of teachingsmall business executives to conduct their bu4iness moreel fectively. The late Di'. Wilford L. White-and Wendell 0.Metcalf represented SBA at this conference. Both werelater to serve as president of the NCSBMD.

Out or this conference can-ma new professional assoation, the National Council for Small Business Manament Development (now the I nrernational (ouncil' forSmall Business). Among other functions, it provided 'aforum for prof essors,:instructors, and others who workedin the SBA cosponsored trig programs for owner- ,

managers of' small business. The Council lias always had a.......

By Clifford M. Baumback, Kenneth Lawyer, and Pearce C. Kelley, tatedition 149. ,

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major portion or its memWirship from the academic W111-munity. ThiS- Fact alone has had'a significant influe.nce inthe introduction of both credit and non-credit courses insmall business management into college curricula. Addi-

.tioñals information about the Cop9cil is available from Lpe,1CSB, 929 North Sixth Stieet, gilwaukee, Wis6consin

53201, S.

During th-e lates1950's and early 1960's, the SBA de-, sigoaed new approaches to meet tlie needs of the st9alls business-owner. SBA's earlier cosponsoringorelationships:

. .

were with any agency, institutidn, organization or as.sckcia-tion which shared the knowledge of a need for spec,ialized

-training Vhkh zeroed in on small business manammentneeds.

These cosponsored courses provided classroom train-.

ing 'ink a variety of management Subjects. Courses weregeneral surveys of 8 to 10 different areas of business man-n

agement or a series pi in-depth sessiwis on a single subject.Instructors were from teaching staffs of eaucation0 jp-stitutions or From professio als such as managernm con-sultants. bankers, lawyer aCcountants and others who

,hae teaching ability in a ition to expertise in a particularsubject.

The gency then added the management1c(j11erenceforimat to its training offerings. A conference w- isually a

s cirfe-Oay or one-evening\ession h6ugh 1requJi1y parts oftwo or tly-see nays) for a grouppf 50.to I Od\and it Nvereda single management-subject! J conferenctt pormally lea-tured [Ad discussions, question-and-,answerperiod, and work sessions. ' ly\In 1963, tho.pre-business workshop format was intro-duce(I. ese wolkshopS:were designed for persons in-.A.t.)tereste jkratifig their Own business or those Who havebeen in business for a year or less. They may he M.( day

4

seusions or a series- of evening meetings totaLhng/stx to

, eighl hours,, fhe purpose of the workshopswas to help 1 )ective

owner-managers,make a ef, ul analysis of hat is in-volved in starting ancymana ng d' small business. Work-shops were designen to dei i with the himiamentals ofgood management applicable to any type of business. Theywere intended to provide a guide toward preparation byprospective owners before tl ey starta business.

13

1 .9

The fourth and-last format introduced by SBA was the1mA:hem clinic. In a problem clinic, small groups of;owner-managers under the guidance, of a leSder or mo4-erator give intense, in2-depth treatment to tt single subject.

Mush of the .discussion here comes from the partici-,-pants' own knowledge,And experience. .5BA .and its cosponsor act as cata1ysts.to.bring together people with inter-est in a common problem, such .as expanding marketingare;is, crime Vvention, or ptrsonnel training in spbciactypes &J.-business.

The validity of thesePrograins to meet the needs ofrtie small owners is seen in the report lot Fiscal Year 1978.As you hvk at the figures, keep in mind that7these SBA-COlponsored Training Programs started _in 1954 with 2pilot courses.

TYPE OF TkAlt1 ; -

tCoures.ConferencesPre-business workshopsProbletm clinics

otai

NUMBER OF.TRAINING UNITS

NUMBER OFATTENDEES

1,700 48,1381,774 98,4891,577 81,0471,523 45,2116,574 272,885

To stint) up 're 1953-1970 period: It reflected the cre-ion and development of the three forces having the. .

greatest impact on the growth of small business manage-ment courses in colleges. One was the creation of the SBAand its prolArarn of co-sponsorship of courses and confer-ences. Another was the formation of the National Councilfor Small Business Management DeN)614ment. The thirdfoice was thç natural evolution .of campus-inspired and ,

faculty-desigOed programs. Movements were jerky ;Indstumbling, and perhaps not always soccessfu I in getting"small busine$ into college," but at least there was move-ment, and thks became profounctly ellAttti the nextperiod.

Before 1953

Before 1953, little was offered in small business man-agement education. Small business was not yat. in the pub-

, lic eye to t4 ext?ht-it is today. Moreoyer, the persons who

14

. .Were promoting 'small businesswmanagement were doers

rI rathe than recorders so that little, if any, informationfound its way into_the records.

Harvard University had (me courr. As Karl Vesperrecalls 4. this course was started by Myks Mace for,G1's',returning from World War 11 who wanted to start theirown companies. The course Was called "New Enterprises."

Nb

f

(".Summary

4

Starting with the,fackthat only aliule was done,,before1953, the history of the developm$nt pf colkge courses insM business management can be summarized as follows:

* Growth between 1953 and 1.97O was the direct resultof isolated efforts of individuals, and a few groupswith. a dedicated interst in small business manage-ment develoRmeni. '

M4r advaneement Itas been suade since 197D be-cause QI the SB1 prograin of SBA, the monfentumbuilt by earlier SBA management training efforts,and the continue/1 support of interested individualsand groups. One example is the International Goun.----""`

cil fo'r Small Business, which cooperated in train*-in the 1960's.

A need has arisen [or a defintion to he drafted forthe difference between those courses For smalnes and those courses .14'eturepreneurs.

4cing Ahead

Now that small business management courses are, incollege, what is the outlook?

`14-4ie near future, the trend of small bt sines% man-agemept courses in college is expected to grow as individu-,als assert their independence and creativity by goint inu)business, for themselves. Another fiktor is, the body i)fknowledge that has be6 developed in the rnall. businegsmanagemq_cit .and entrepreneurship courses that are now

1 5

offeredModels eXist today whe're none existed 25 to 30years ago. Courses are offered at both undergraduate andgraduat* *-vels; there is a specific identification of themanagement functio'ns of small business, as compayed ttthe- technical iipects of the industry; both traditional andinnovatiVe teaching and /classroom tef7hniqueg 'are used:and finally,'"the literature,on snialLibusiness managementjspowir$ and becoming more readily, identliable7iind ac-

.cessable to bothjeachers and students.'To keep track of future growth of co uses in small-

business a valid and ,reliable reporting system. is needed.Definitions need to be refined. Exactly what is a smallbusiness managment course? Exactly what is a course in

',entrepreneursh;p? Once definitive descriptions are writ-ten, will the academic community accept them?

Who will be willing to take on this project? Moreover,what organization, association, or institution will take itupon itself to begin and' convinue a system of ilata collec-tion about these course's? The goal, of course, would be toprovide a resource of information for all individuals andgroups concerned ;,vith strengthening mlnall business in afree enterprise economy.

Finally, the three separate and -distinct markets towhich small buAness management courses are,th be di-rected must be recogniked and serviced. They are:

The youth market. It -is made up of young people justout of high school or entering college who have littleknowledge about how to enter a ca&eer. Business collegesshould work with high school and college guidance coun-selors to provide infoi-mation for young people who wanttoenter small business.

The youth adult market. This market composed ofupperdass or graduate students. They must be provided amore sophisticated curriculum by university faculty Whohave the knowledge, the understanding and the motivationto do exceptional work in the area al small business man-agement. This group and youth market are the successorsto thr owners-managers of today's small businemes. -

The neglected market, This market is made up of per-sons who own and manage (heir businessess. They bega,nwith an idea, an inspiration, arid. ab,shoe.st ring. Many olthem knew little or- not hi ng about "managing" a business.Thertmew only how to provide the product or service fhat

16

9

$ d rwas the firm's reason for being. Whk they are successfulitis usually in spite of their management ability, not becauseof it.1

This neglected market is one_which the (vpkafuni.ver-sity campus program has difficulty in reaching and serv-ing. These practical owner-managers are notiMtert.sted intaking courses for degree credit. Moreover. in the pastmany professors- were relluctant to come out 'of the 'ivytowers" and confront the "mainstream'a small buSiness"with training content and approaches that respond toneeds of owner-manage'rs.

Now many' colleges and community colfeges are of-fikring courses which attract th6e "special students" to thecaMpus. Faculty members are finding a spirit of "gi,e and.take" in eburses where many of the students are experts intheir own business and -industry. Owners of small businesswould serve themselves wet! to investigate their local schoolor college and fiVd out what is?.being offered. A list ofschools offering, small hiusiness management courses ap-pears in the appendix to this booklet.

Why TeachSmall Bui7ss

'rCollege level covses on small business that ai-e offered,

reflect planning and purpose. The professors whp designnd'teach them, know why they sare teaching small businessmanagement. Moreover, they seem to be working on thepremise that. just,as a welf-manged company needs a busi-ness plan so, a college course on small business needs apurpose or an objective.

Generally, "these objectives fall into seven broadcategories. As the professors,.describe them, the purposes

'of the courses are to help Audios:

Organize and operate a small businessFunction as a consultant to serial! businessSolve specific problems and use effective decision

making methodsOrganize a small business and solve problems likely

to be encounteredAcquire valuable learning opportunities based onclassroom exercises and field experience

Develop an understanding of small business' role inthe free enterprise system

Learn the characteristics required to meet the com-pet.-ition

Examples of' suuements ol obit-dive, Aich appear inacttial course outlines, are, provided on the next severalpages of' this chapter.

1 8

2

Teach Students How to sOrganize and Operate aSmall Business

"This course concentrates on, those aspects of man--agernent that relate directly to small businesses. The course

-.is designed to develop an Understanding of the environ-ment in which-imall,businesses.funetn. In addition, thestudent will become acquainted with the mechanics, issuesand 'problems of starting a new business*. Thelourse is de-signed for students with a limited background in business,and who are intereistedin stArting a business of their own."

A "This course is designed to enp,ble students consider-ing careers either in or dealing,with small firms to examinerealistiCally the characteristics, opportunities, and risks ofthis segment of industry. Cases dealing with a variety ofopdating problems at,different stages of 'the life cycle ofthe small enterprise, is well as with the longer range mat-ters such as defining the appropriate market niche, growItistrategy., financing, building a management ter andplanning the future of the enterprise, comprise the princi-

Vpal focus of the course.""The,purpose of this course is to deal with the estab-

lishment and operation of a small firm whose principal ac-tivity is the marketing of either consumer or industrialproducts. General topics ,to he covered include: Consid-c:ration of small businesses an appropriate way of life forthe individual, legal considerations of the srnall business,including gwernment control, starting a new business,buying an existing one or franchising, capital needs andsources, financial and accounting control, locittion analysis,procurement and supplier relations, pricing, advertising,'credit, inventory controkfrolit planning and cost control,and small husirtess in the future."

Show Students How to Function as a Consultant toSmall Business

"The goals of this course are: To provide cortfpetentmanagement counseling to small firms, to provide studentswith "hands ori" relevant management experience; and tocontrilcute to the fulfillment of this college's responailityto the cornriiunity of which it is a part." .

1 9

2:)

"The çbjecuve of the -S-131 program In this.,school is toigvolve the student n the-opportunities and c iallenges okan enterepreneural environment. Students se ted, toparticipate will aid the small business owner, bthat owner to plan soundiy for new ventdres and oun-seling, guiding and training the owner in the 'S--o unon ofcurreht problems."

"This course provides students.with an opportunity toas small business const nt.i5tudents enrolled are di .

vided into teamS and assi ed to small business and therole o each team is to act as.a consultant to this.business,

1011kto m e an overall analysis of its-problems, and to submit aco ulting report At the end of the quarter."

"This course is designed to emphasize those aspects ofmanagement 'that are uniquely important to small firms.The general functions of small business management,willbe reviewed and a management conSultant approach willgive insight to actual problems faced by the independententrepreneur. Small businesses in the local area will be vis-ited, examined and critically analyzed, for the purpose ofactietkproblem solving."

-Help Students To Solve Specific Problenis

"The objective of the course is to provide an under-standing of technological innovatiOn, technological enter-preneurship, and technological transfer that will be usefulto general management,.investment analysts, entre-preneurs and -managers of R and D activities. Emphasis ison deciskon-making situations ikwolving a high degree oftechnological uncertainty. The viewpoint is that of a gen-eral manager who finds, himself in a fast-moving techno-logical environment."

"The course objective is to undeAta,nd and utilize themajor concepts and fundamental principals involved in themanagement of a smaller business. Emphasis is placed onthe identification and solution to problems facing an es-talAthed small firm. 'Ffie course consists of both casestudiesond having students work with aetual problemsfacing Ikal firms in the area."__

"The primary concern of this course is the examina-tion 'of the application of management concepts to small

20

2

%

btoinesig httth speciAl emphasis on conditions that prevail in,Ismall business ,organization. Risfribution zind serviceorientot'l firms are critically eva luated. 'Ube course exam-ines the basis of effective thinking that cdnditionsmutation of executive decisions and outlines the develop-ment of dtephilosophy of professiimal nmnagement."

Xneourage Students To Solve Problems and MakeDecisions

a

"This ccitirse is intended to.serve three functions.,',FhZiprimary function is7to pivide a practital training groundfor student.s in tho.identification and solution of a widevariety' of business problems in living situations. The sec-ondary function is to expose students not only to theproblems but also to the opportunities of small businessentreprenetirship. Finally, a third function is to providesanexcellent mtchanism for satisfying the peed' for relevanceby bringing prbtilems of the business community into 'theclass room."

"The objectives of thcs cputse are: :fp apply businesstraining to OPportunities in small ,business, tei 'develop un-derstanding 91 small busineis entrepreneursInp (coneleiv-ing,and starting) 6peration and terminati9n, 4,0 appreciate

.the,adyantages and disadvantages of small business owner-ship, 'and to learn to eValuate functimml businesses andprescribe course 'of action and remedies for probleMs."

'The purpose of this course is to isolate aivl examinefor golutions 41e Si gni fica n t problems encountered bythose who manage smaU businesses. Those aspects o n-

agement that are 'unicfuely imporiant. to sniall firms are=emphasized in Order to devdnp the student's turidersting of 'the ec(momit and social environment in wriich thesmall concecn I unctions. Attention is given to a variety ofoperating problems, and 'different stagts of a company's'life cycle,as well as long-range matters snch as defining theappropriate market, niche, finarieing, bnilding a manage-ment team and planning the future of the enterprise.Problems' of mart-up., problris of survival, problemscreated by ,growth, Ad 'ways to idedlify and overeome ob-stades,to rowth are:mtudied as paii8 o1 i he developing na-ture of small- 64rms.."

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el

Offering Learning Opportunities, IncludingApplication

"Theput-pose of ibis course is to-provide students witha field e3(perience that' will enable theln.to apply the con:cepts.to which they have been otposed in earlier courses:

"Coupe objectives: To draw together skills and priortraiping in ,the.many business disciplines within each stu-4ntsind offer him an opportunity to use this training in areal world sittlation through actual contact and counselingof a small kusiness owner."

-"The purpose of this course is to provide a learningopportunity for undergraduate studebtS in4erested in en-terpreneurship.7. new business formations aild small busi-ness, and to provide an .opportunity to senior level stu-.dents to assimilate their business understanding' into asimilar course." e'

"Course objectives: Introduction to the main conceptsand, fundamental. principles involved n the managementof a small business. F.mphasis will he placed on the consid-erations ihvolved.in initiating a. small firm And problemsinvolvedjn the initiation stage. Students will work on casestudies and actual problems facing developing businessesin the local area."

Provide Understanding Of Free tmerprise

"Course objectives: To understand the place of a sAfllbusinesS in* the Amevican economy and the opportunities -

affor.ded by the free enterprise: system; to. recognize the \problems of 'small busines and the personal qualifications,neefied by the small business/entrepreneur; to gain experilence in decision making." -

"The purpose of this course is to help the student ( )

to acquire a basic knotvledge regarding the low economiccondition of the disadvantAged in this area and the prob-lems involved in elevating the cbndition."

"(2) To gain an understanding of the Fr e enterprise. )

system and, its value,in Fulfilling jt basic hutih need to'build, produce ands to own."

"(3) -to become acquaMted with the federal, state, andprivate program esigned to assistglisadvantaged minor-ity entrepreneur 41, .

22 28

Student business training and eXperience is, u tilized inhelping to solve disadvautard minority'businesspeople'sproblems.

-Expose Students to the Charicieristics ofCompetition

"Objectives of the course: To teach students the place.of small business in our society. Ethica l. practices and tat-

.. gilts required by the small business owner are stressed,

specifically: tTo teach the need for small businesses in certain .

segments of our business society.

'fo%teach ethical practices of the businessman.

(To teach problems to be faced and op portunities in-. volved in competitive considerations.

To discuss problem situations using the incidentmethod. ,

To develop and co,iplete a term .project on thestarting Or acquiring of a small business."

"The course in small business Management is designedto provide an introduction to the operating and strategicproblems of the smaller business firm and to illustrate therequirements of the.successful formation, operation andgr6wth of;these companies. The theme of the course is thatsuccess for the smaller company is dependent upon thedistinctive corporAte strategy or means of competingwithin an industry supporteà by consistent operatingpolicies in marketing, market research, production. fi-mince. product development, and the organizationalstructure ,in'systemsThis combination of a distinctivestrategy and consistent supporting policies enables thecompany to overcome the problems (lack of resources':indlack ,of stze) inherent in the smaller firm, provides thecompetitive advantages necessar for growth in an econ-omy dItminated by ldrger firms, 4nd permits the foundcrsto gather the capital and per .o.nnel needed ftv theventure."

Multipurpos6

&Nine' of the colfrses do not fit a category unless thatcategory be called "multipurpose," However, even here theColITSe descriptions reflect purpose. Look at these el'am-pies:

"The aim of this course is to help the student developthe knowledge, skills and attitudes needed in successfulentrepreneurship and in the management of a small busi-naps. Specifically, it should help you to: Gain an insightinto the sociological and economic aspects of small businessin the U. S., recognize the hazards and opportunitites ofsmall business ,ownefship as an alternate life style; applythe knowledge gained from other disciplines to small bUsi-ness managempnt; create anci implement plans for startinga business; buying a business and growing into a franchisearrangement; and inCrease your knowledge and skills es-sential for effective small business decision making."

. "This course focuses on the coordihation 'of variousactions and functions necessary to start and manage a newventure. The objectives of this course are to upgrade, thequality of the young men and women who will in the fu-ture be the managers of small businesses and as-a result tostrengthen this important sector or the economy; to em-phasize those aspects of management that are uniquelyimportant to small firms; to develop ihe stutient's under-standing of the economic and social environment in whichthe srriall concern functions and which both aids and re-stricts freedom of 'entrepreneur decisions; and th affordthe student practice in decision-making on the same typesqf problems as small husinem owners face as they makedecisions,-that is, under conditions oluncertainty."

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3

Variety in ADynamic Field

Although small bUsiness manager9ent courses are ac-cepted as a legitimate area of study in many universitiesand colleges, their characteristics differ considerably. Tbischapter provides inforMation on the types'of courses cUr-rently in use. The examples given ber are designed toserve both as reference sources and m dels for educatorsengagettin designing5programs of this jype. For additionalinformation about variety in this dynific field, consult theboa,' Course Offerings. in Small Busines.s Management/Entepreneurship.

_ Colleges and universities are ofrering cgurses in smaHbusiness management or in entrepreneurship under a va-riety of course titles. Some examples of.ttitles are:

Sinall Business Formation41;

Managements of Teehnolcogical FormationMarketing ManagementVenture FormationThe Venture Capital ClameVenture ManagementVenture InitiationEntrepreneurial Science SeminarEntrepreneurial Research

Pre-requisitesThe usual indicator of established credibility and ac-

ceptance in the curriculum of higher education for acourse is to have certain' pre-requisiteS that must be met be-fore a student'ean register and take the course. Course

3 1

prerequsisites for small busintss management courses in-clude: .

AccóuIng.FinanceEconomicsManagementMarketingNew Venture DevelopmentIn other cases, the courses may be taken :only by'stu-

dents with certain academic standings: graduate level, ad-vanced level, senior standing in business admihistration,juniox 'standingin btisiness administration,' upon compler.tiori of business coie requirements_or with consent of 'theof the instructor or department. In a few cases, th%courses'are not open to business students.

,

Teaching TechaquesA variety of teaching and classroom techniques are

uset by the professors offering the courses. There seemso be no limitations to the experiences an instructor canse or a student 'pin enjoy in attending a course on Smallusiness management.

This subject is a dynamic one and lends itself to a vari-y of teaching techniques. ExamPles of some of those used

are: 1Reading assignmentsClass discussionsCase studiesAudio-Visual, TV CassettesLibrary referenisesSpeakers, guests and panelsResearch projectsRole-playingFieid projects .

Class elLerci4esModel buildingConsultingTeam search aria analysisReportsProblem-solving laboratorExaminations

26

3 rIa

,

Course Outlines

Small business colones offers ed in colleges and univer-sities fall into five broad categories:They are:

Courses which indicate theyawarding of a Small Businessthe school.

so.

were inspired by thefristitute/SBA grant to

1'. Courses s;fiikh are patterned after, the accepted"management functio,n" forrnat. Thes6,are orientedto the discipline of mawnagemeni as'applied to small,independent; own&-managed businesses.

Courses which emphasize the 'person as .an entre-preneur or stresi the nature of the venture enter-prise.

Courses which follow the traditional faculty format(That is the number of chapters in a text are proratedto -the number of weeks in the semester, less holi-days, exam periods and one period for contingenciessuch as a snow storm.

Courises which do not fit snugly into any o he abovecategories.

The following sectiont of' this chapter present a de-tailed discussion of courses organized according to eachthese formats.

SBA/Small Business Institute Format

The appearance cif small business managementcourses as a result of SBA/SMALL Business Institutefunding is quite evident in the array of course.syllibi. Somerandomly setected course outlines of the SBI generationhave a variety of details as shown in the following exam-ples.

A graduate business school in the Southeast aers thiscourse:

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'

4

Course Decription:The objective of this course is to introduce thesiudent.to, and increase his corppetence in problem solvingand decision making in the enterprise. Thecourse should be useful not only for studeints who mayenter small Business, but also for those whoienter -

larger organizations where they 'mist deal withl smallbusinesses as suppliers,' cuslomers, etc..

*

. ,

The major topics covered arev1. Evaluation of the small business opportunity;2. Acquisition of resources, particularly financing as-

pects;3. 'The special problems of managing a small business;4. The personal characteristics and motivations of the

entrepfeneur.

A- variety of instructional methods are utilized:Selected teadingsCase problemsVisitdrs, entrepreneurs, SBA officials, financialpeople, etc.A visit to a small manufacturing or service companyA project under sponsorship of the SBA, Small Busi-ness Invitute Program.

The objectives of the project are:I. To relate the con4pts learned fr m the readings,

case problems, visitors and class disi-ussion to anon-going small enterprise;

2. To gain skills and professionalism in performing aconsulting assignment in a' small business;

3. to provide a service to the thcal community of smallbusinesses;

4. To gain skills in appraising in an overall sense asmall enterpriseitS opportunities, strengths andweaknesses, entrepreneurial motivations, manage:.ment problems, and then developing a practicalbusiness plan.

4

28

A W.e. St Coasitstite university provides this narrative forrni\'

Coiirse Decription:Practical application of business principl s to improvesmall businesses; minority business problems; studentsServe as consultants to .owners, managers; class re-ports.

Format: Class meets for an hout ancl 15 minutes twice

a week-during the semester. Students review small'businessproblems related to specific cases the insrtructor has ob-tained frotn several sources including the Small BusinessAdministration. Students are ititroduced to ihe manament of the firms with which theyf are expected w

and go'ahead and get acquainted wifh the problem,areas atfirst hand. In general, this phase of the prOject involves thestudent and, the management in diScussi.ons for back-ground of the student. Students bring.their concept of thebusiness problem back to the class and work with others indiscussion and brain-storming, sessions to bring as muchadvice as possibre to bear on the problem. Student worksout soliitions with the hslp of instructor and takes resiAswith possible implementation back 'to the managemint. If'time permits, a yeview of the results takes place, In anyevent, the instructor hopes to be in close-contact with boththe student and the management at the time of the reportand summing up of the roe at 'the end of the semester.Visiting speakers arc those- who offer information directlyrepted io the student projects at hand. Sometimes they areoperators of successful businesses related w.the businesseswith which the class is working. Sometimes they ire in-ventors who want to know how to proceed with 'a product'from the patent stage. 0.4courSe, when possible, the man-

.

ager of:a project case is, asked tocome and meet the wholeclass group and go over his project or problem with thegroup.

29

A North Central school of business administration de-signed this format for an SBA/SBI Project:

Term (TEAM) Report ;*SBA Project

Purposeto demonstrate capacity for independent inves-tigation', to analyze carefully problems of current signifi-cance to SBA-related owner-manager concerns (clients), toprovide xelevant conclusions and solutions and to bringabout practical recommendations and implementations ofactionstecessary to solve client problems. The student.isexpect& to !ogee his own sources of information, collectand organize all applicable material, analyze all pertinentfacts, draw his own conclusions and make such recommen-dations as are justified by facts, conclusions and practicalapplication In addition, the repoot mint be prepared to

.demonstrate the logic and reasoning incotsporated therein.

Foimatfollow this indicated &der exactly and usethe proper captions to identify each section of the report.(a) Problems. In outline form indicate and identify major or

significant problems which you garnered frop your in-vestigation, factual analysis, and/Or those problemsbrought to your attention by the owner/manager of theenterprise under counseling.

(b) Factual Data. For each of rhe above problems, providea complete factUal background or base from client dis-cussions and library and, field research so as to preparethe reader for the conclusions and recommendationswhich are drawn from the material in this section. In-clude fiere only, relevant objective material. f;xclude allsubjectivity. Your opinions about the facts are conclu-sions or recommendations, not f;:cts.

(c) Conclusions. From a careful 'analysis of the relevantfacts,indicate the appropriate conclusions at which' y'ou,,arrived. Conclusions should be basic to the enterprise.;under review and should he based on your inductionsfrom the facts which have been collected and analyzed.Exclude any discussion or recommendatnms. (Presentconclusions primarily in outline form.)

3o

(d) Recommendatio . Under this sectiori pro'vide ill log-ical numerical ord r your advice, suggestions or pro-grims necessary to 'olve the client's problems. A briefdiscussion of 'the rationale behind )ea.ch recommenda-tion shouid be provided.

(e) Implementation Requirenients. This area of counselingis one of the most important. It must show in specificsteps what you would require client to do to solveproblems and how the proposed action plan may be putinto operation. In logical nunierical order specify theaction to 'be taken in a practical and fealistic mannerconsidering tbe size, Arength and weaknesses of theclient's business.

(f) Implementation Progress. Describe any effort or actiori.taken by the client in implementing any.recommenda-tions or suggestions during the counseling period. Makesure that any action 41(en was actually accomplishedrather than merely representing a promise to do so.

, .

(g) Discussion. This part of the report should inclIkde allmeeessary explanation and amplificaticef conclusions,problem% and recommendations. Additionaldocumented facts other than those the factual data

.

section may be included to bolster or justify decisionsconcerning the above factors.

(h) Leibrnini Experience. What significantly differentthings did you learn from the project yelative to thiscourse?

(1) Documentation. This report being of an academic na-ture it requires that all sources of inforrnatiim used inthe report or otherwise researched must be properly

.:doctimented by an appropriate footnote. [Editor's note:Detailed instructiolis for footnotes and bibliography areomitted in the interest of space

'31

Management Function Format.Some of the courses follow the traditional outlines of

business courses. A number of common factors appearthroughout these courses.

Here are examples. A school in the Southwest used thisoutline: ,

The couise will deal with the establishment 'and operatiottof a small firm whose principal activity is the marketing ofproducts, eithet consumer or industrial items. Generaltopics to be covered include the following:

I. Consideration of small business a's ap appropriate wayof life for the individual.

2. Legal comiderations 'of the small business includinggovernmental control.

3. Start a new business or buy an existing one;ing.

4. Capital needs and sources.5. Accounting and financial controls.6. Location analysis.7. Procurement and iupplier relations.8. Pricing, advertising, credit, inventory control.9. Profit planning and cost control.

10. Small business and the future.

franchis-

A Southeastern university expanded the manager-tientEunction format:

Small Buliiness ManageMentOwnership and Management of the Small Business

I. IntroductionA. Nature of the Small BusinessB. Why Small Businesses ExistC. Relativt StatisticA About Small BusinessD, The "Breed" of Small BtAinessmen

32

38

II. Deginitions of the Small BusinessA: Gross SalesBASsetsC. Other

M. Types of Small BusinessesA. Sole Proprietor`shipB. PartnershipC. Corporation

IV. Creation of the Small BusknessA. Capital Requirements

I. Working Capital2. Fixed Capita-1

B. Physical Plant, Equipment, and other Asset Require-ments

C. Inventory RequirementD. Bank Affiliation Requirement

V. Personnel in the Small BusinessA. SourcesB. SkillsC. Prottlems

VI. finance in the Small BusinessAt RequirementsB. Allocation

I. Fixed Assets2. Working Capital3. Debt Retirement4. Reserve

C. Cash FlowVII. Marketing in the Small Business

A. The .Market AreaI. Income2. Available Income for Product or Service

B..CompetitionC. InnovationD. Salesmanship

1. Personality2. Service

E. The GhettoVIII. Recordkeeping in the Small Business

A. Basic' RecordsI. Journals2. Ledgers3. Other

B. Significance of Records1. Interpretation

33

41,

2. Planning3. Prgiection

IX. Taxes.in the Small BusinessA. Accounting for TaxesB. Taxes Withhekl

I. Collection2. Transmittal

C. Tax ExpenseX. Problem Areas in the Small Business

A. PersonnelB. FinanceC. Location

I. Ingress2. Egress

D. SecurityE. Product or Service

XL. Benefits of the Small BusinessA.. Personal SatisfactionEt, ProfitabilityC. Economic Need

A middleEast school expanded the management functionsinto different details:

Areas of Coverage

I. The Philosophy ana Goals of a Small BusinessA. The, future of small business-concerns in the economy.B. Ethical practices of the entrepreneur.C. Needed talents of small business men.

2. Planning for Administrative ControlA. Critical problems of small businesseS. --

B. Understanding the administrator's management func-tions.

C. Formulate and implement needed organization policies.D. Planning for a successfuLhusiness operation.

3. Initiating- a New BusinessA. Sources of assistance.

I. Determining capital requirements with the financialcommunity.

2. Legal aspects of the business and legal assistiince.3. Government programs and assistance.

B. Researching the marketC. Locating the b:usiness operationD. Securing and training personnelE. Providing, physical facilities

34,

4 0

\IF

`.1

tt,

4. Acquiring an Existing Alusiness EnterpriseA. Making the decision to buy

I. Retail storei2. Service organiiation .

S. Manufacturing operation- B. Conducting a market researce

C. Developing product line ahd growth strategiesD. Evaluating present persoNnel

5. Financial. MO Minagement ControlX. Creating and impkementing a profit pla,nXS:Formulating the.cash flow procedure i

C:'Determitiing risk and insurance coverageD. Establishing credit policiesE2Determining accounting procedures and tax irnplicaj-

tionsF. Making *financial analyses for financial strategies

6. Non-Financial Considerations -

A. Promoting SuCcessful internal efficiencyI. Prpblemsivith family-owned busineiss2. Interpersonal relationships of adMinistrator

and employeesS. Increasing productivity

B. Training and motivating personnelC. Measuring and_ appraising personnel performance

7. Information System and Administrative ControlA. Using electronic data processingB. Required information

I. Financial statements2. Profit plan variances3. MaAet changes4.,CaSh flow statement5. Inventory changes

C. Desired iaormationI. Producf. line needs

Labor pr.oble,ms3. growth potential of the organization4. Communily reactions to the organiialion

Entrepreneurship Format

A change in content but not necessarily in format oc-curs when schools ofTer courses titled "EntrepreneurshirHere are examples..

35

A Mit !western graduate school follows this outline:Entrepreneurship and New Venture Formulation

The course concentrates primarily on the initiationof new- business ventuxes, althOuglit solve attention is giyenti) the problems of manage-Menu' and growth of the- newventure after'Startup.1. The,nature of entrepreneurs and entrepreneurship

. CharacteristicS of entrepreneurs ,

Rewards a'nd sacrifices of entVepreneurship2. Overview of a typical new venture life cycle

Conceptioninitiation,Growth

3. Marketing,Data sonrcesMarket analysis for neW ventures'

4. Financing'Financial planning for slew venturesSource of fundsPrivate plaCement negotiationsProblems and procedu,res of going blic

5, Taxation .

Income taxes. Other taxes

6. Legal forms of organizationProprietorshipsPartnershipsCorporations

0'7. Organizational Growth & Development'Selection and use of executives, outside specialists, and theboard.Growth problemsSpecial problems of small businesses,

8. Problem4 of transitionManagement succession apd estate probleiw;Selling your company

9. Possible areaVor entrepreneurshipBuying establisTied bu5i-nesses'

'Areas offering new (opportunities

10. Preseniation of' projectsTrial presentationsActual presentations

36

- Another Midwestern school adds the full spectrum ap-'proach in a course calleOt "entrepreneurship". It starts withgoing into business and,ends with a session' on going out ofbusiness.

Entrepreneurship

.4. Going In BusinessAs.. Legal StructureB. Operations

E Starting Up2. Buying In3. Taking Over

C. Fouridation for GrowthI. Records

AUdited financial statementsCorpqrateBusihess history"Track"

2. Operating RelationshipsBoard of Directors -

Of ficetsPro resstonals(1) Auchtors(2) Lawyers.(3) Finandal

' Commercial bankers- Investment hankers

1.

4

II Growihr<r;tegyOperating

B. Organi?ational and PersonalC. Financial

1. Retained Earnings2. Debt;3. Equity4. 9flice Balance Shee

HI. Sources Of CapitalA PrivateB. I nstinitionAlC. Public

37

I.

- ry. The Publie CompanyA. Problerns

1. Costs2. Regulators3. 5tockhdlders4. Securities Markets

B. Impact on Growth StrategyOperating

2. Organizational and PersonalT. Financial

V. Getting Out of BusinessA. Sale of AssetsB. Sale of Going BusinessC. MergingD. Sale of I'Vrt ot Business tA the Public

A Southeastern university offers these variations to aneiatrepreneurship course outline:

Course Outline-Entrepreneurship

1. The EntrepreneurSmall start of many great companiesimportance of freedom to innovate,The.risk takerDistinction,between inde0 dent entrepreneut ahd

bureaucratic entrepreneurSome reasons entrepreneurs start

-Why some fail2. Innovation

innovation ConceptsManagement frame;vork in going companiesThe innovation process

3. Identitication and appraiSal of opportunitiesObjectives and goalsProgress Reports on-Term Projects

4. A businessman tells of his experiences5. Same initial considerations

otecting ideasForms of enterpri,Pilot stage activititsMarket, research .

Prototyping products

6. Developing the planThe nature of planningBuilding the base of the planPlans for variotts. operating areas

7. Technological Innovation and Product Development8. financing and Financial Management

Sources of fundsEquity vs. debtTrade creditRetained earningsPublic offerings

RiskControlFinancial management in the.new firm

9. Marketing in the new ventureMarket strategie- initial and late,'

10. Growth trajectoryMerge, sell, or go publiiEntrepreneurial successionOrganizational effettiveness

Chapter Title Format

Some faculty let the chapter titles of .the textbook usedin the course be the course outline. Thus, they rely heavilyon the expertise and planning of the apthors who pre-pared the content 4fs their texts with this possibility inmind.

One college uses the chapter titles of a popular smallbusiness management te)(t as its outline for a course.

Management of Small Business Enterfatoise

L Small Business in the American Economy2. Electing Small Irtisiness as a Way of Life3. Objective Self-Analysis4. The Appropriate Legal Organization .5.'I-egai Problems and Gmiernmental Control6. Patterns of Small Business Operation'7. Business Opporitinity8. Developing the Winning CombinationManagement9. Key to Efficient OperationsPlanning

10. Organizing, Directing and Controlling OrgailizationalEfforts

, 39

.11. Preparing the Prospectus.-12. Capital Needs and Capital 'Soumes13. Accounting and Financial Controls

,14. Your Role as Financial Manager15. Risk Management and Insurance16. Praulems of Business Location,17. Construction, Layout, and Environment18. Manufacturing and Production Operations19. Personnel and Employee Relations20. The Company Image

.21. Advertising22. Pricing-Of Products and Services23. ResearchMarketS, Products and People24. M naging Credit Saks25.1 enigiry COntról and Materials Management26. Prfçsional and, Consulting Staff

South Western university detailed its course out-line in this fashion:A. The Role of Small Business in the American

EconomyI. Scope and Trend of Small Business2. Values of Smalt Business3. Future of Small Business

B. A Management Philosophy for the Entre-preneur1. Business Objectives2. Business Ethics3. Future Changes in the American Economy

C. The General Functions of ManagementI. Broad Applicability of Managerial Functions2. Nature and Importance of Management

D. Factors in Business Failure and SuccessI. Business Mortality2. Causes of Business Failure3. Management Philosophy and Business Success

E. Legal Problems and Procedures in Initiating a SmaHBusiness1. Possible Forms of Business Organization2. -Hie Sole Proprietorthip3. 'I-he General Partnership4..Fhe corporation5. Legal Steps to 1:aunch a Sole Proprietorship, Partnership,

and i% Corporation0

4.0

F. Procuring Initial Capital and CreditI. Beginning Capital Needs of the Small Firm2. Estimating Capital Requirements3. Credit anipedit Relationship

G. Locating the EnterpriseI. Importance of Best Location2. Choosing the Business Loc;tion3. Special 'problems for Certain Types of Busi.ness

H. Setting Up and Staffing the,Organization1. Basic Factors in Structuring a Business Organization2. Staffing the Organization .

3. Effective Use of Directors in Small CorporationsI. Business Records, Reports, and Financial Statements

1. Records and Record Keeping2. Analysis and Interpretation of Financial Statements3. Use of Reports in Management Control.

J Budgeting, Expense Control, and Forecasting1. Nature and Functions of a Budget2. Basic Factors in Budgeting Control3. Setting'Cost and Performance Standards .4. Preparing and Revising a Budget

___") 5. Business ForecastingK. Employee Relations

1. Why Employee Relations Are Important in Small Firms2. How Employee Relations Are Different in the SipalfFirm

A WeSt coast school Wed still another listing: .,A. Business Ideas

1. Discussion on the sourees of and potentialitig of businessideas

B. Characteristics of the Entrepreneur1.,Definition of the basic character traits of the entre-preneur

C. Location and Location Selection'I. Criteria to be used in business locution selection

D. Regulations and Taxes and Insurarice and LicensesI. Bask requirements2. Sources of Information

E. Sales Promotion and Advertising1. Goals of Advertising2. Advertising Media Selection3. Advertising Program Development

F. Personnel ManagementI. Hiring (RecrUiting)

. 2. Training

4 7

c

3. Fringe Benefits4. Employee Relations

G. Furnishings and FixturesI. Necessity for2. Acquisition Sources

. H. Financing the OperationsI. Sources of Capital2. Cash BUdgeting3. SBA Speaker

I. Financial Statement Analysis1. Ratio Analysis2. Breakeven Analysis

. 3. Financial Statement AnalysisJ. Records and Recordkeeping

1. Retention Period Requirements. 2. Types of Records Required (employee, real estate, e c.)K. Franchises

VDefinition2. Opportunities

L. Acquisition of a going concernI. Options available .

2. Advantages and disadvantages3. Highlight of pitfalls4. Research emphasis

Determination .9f a reasonable price

Unique Format

In any ,collection of college and university coursesthere win be many formats which defy standard classifica-tion. For one reason or another depending upon the in-genuity of the designing.. such courses are unique. 11.nexample of such a course is one offered by a New Englandgraduate school of business administration.

The profossor describes it is as Follows:The emphasis of this course is on risk taking in new

'business ventures, rather than on day-to-day management.Cases have been selected to stimulate the student's, think-ing about the opportunities, risks and ingredients neces-sary for success in an enireprtmeurial career. lb roughcase discussions on starting or ptu-chasing companies. siu-

.12

R

Oa

dents get practice in dealing with such nlatters as finding asuitable opportunity, appraising profit potential, deter-mining -an acceptable purchaie 'price, negotiating terms,and raising capital.

The course covers those ventures which happen to besinall but wbich have thepotenti;.1-and management inten-tion to grow rapidly ,into substantial corporations. TheMore traditional small-industry kinds of, smallbusinessesthe marginal retail or service Com anyarenot included in thecope of the course.

Most,of the thirty-two 80-minute class sessio e dis-Cussions of case studies in the traditional case medjod. Fordiscussions of the technical notes related to taxat on andse&trities regulations, outside experts come to clas to an-swer questions2For several of the cases, outsid guestscome to answer questions during the last twenty minutes ofclass.

The instruc(or's role in the course varies with the indi-vidual but traditionally emphasis isiorpon the action ques:

-non and the diScussion k guided so Students will use analrSis of case information to support their positions. Studentsare encouraged to gain familiarity with legal, tax and reg-ulatory matters and to use this knowledge in their analyses.The course has reqinred a relatively heavy work load andin the past has been rated by students ,as high in academicexeellence required.

Summing Up. College and university courses in smallbusiness management -haVe all the essential characteristicsof the traditional course: prereepiisites; a variety of in-structional methods; and an assortmenrof formats as theyappear in the collected syHibi. They meet the aspirations ofboth young -pehple and -adults wHo wish to enter the pri-vate enterprise market pjace. Moreover, the courses offerknowledge and skiW. the millions of persons alreadypractising in the m ikOlace.

43

4.

Texts and, MaterialsUsed in &tall Business

Many of the small bUsjness management courses inuniversities and colleges use traditional instruictionmethods. in most cases there is a required text, some op-tional text readings, and additional readings in journalsand other trade and professional publications.

Not all courses have texts for required reading; somehave several for suggested reference,' but almost all haveoutside reading lists. One has a bibliography ormore than50 articles.

This chapter lists small busidess management texts,suggested texts, and periodicals required by many scho91s.Also included are material resources, orgainzation/re-so s and classroom methods. .

'a.

Required Texts

The following list Icludes those texts that are re-quired For course reading.

Business Policy in Growing Firms by Robert Buchele. 1967.Chandler PubliShing Company, Oak Street and PawneeAvenue:Scranton, PA 18512

44

Buying and Selling a Small puiiness by Verne Bunn. 1969.Small Business Administration. Available from Superin-tendent of Documents. Washington, DC 20402

Effective Entrepreneur, The by Charks Swayne and Wil-liam Tucker. 1974. General Learning, Press, 250 JamesStreet, Morristown, NJ 07960

-Entrepreneur and Vrnture Maagement by Crifford M.Batimback and -Joseph R. Wancuso. 1975. Prentice-HallInc., Englewood Cliffs, NJ 07632

Entrepreneurship, Playing to Win, by Gordon B.. Baty.1974. Reston Publishing Company, 11480 Sunset Hills Rd.,Reston, VA 22090. -

Fun and GutsThe'EntrePreneur's Philosopy by JosephMancuso. 1973. Addisori-WeNley Publishing Company,Inc., Jacob ray, Reading. MA 01867.

How to Organize and Operate. a Small Business by CliffordM. Baumback et al. 5th,ed, 1973. Prentice-Hall, Inc., En-glewood Cl ills, NJ 07632.

Managing the Dynaric Small Firm: Readings by Lawrence.Klau. 1971. Wadsworth Publishing Company. Inc...10Davis Drive, Belmont, CA 94002

Managing the Snwil Business by Donald P. Stegall et al.1976. Richard . Irwin, 1818 Ridge Road, Homewood,ILL 60430 /

Management of Small. Business by V. A. . 1975.Charles:Nerrill Publistiing Co., 1300 Alum 'reek Drive,Columbus, OH 43216.

New Business Ventures and the Entrepreneur by PatrickLiles. Richard D. Irwin, 1818 Ridge Rd., Homew11L4,1,60430.

New Enterprise Management by Melvin J. Stanford. 1975.Brigharn Young University Press, 218 Ilrpt(-114k., Provo,UT 84602

New Enterprises and, Small Business Management by Paulponham and John S. Day. 1959. Richard D. Irwin, 1818Rid* Rd., 1-1(imewood, II. 60430

Policy Formulation and Administration by C. Ro andChristensen et pl. 7th ed. 1976. Richard D. Irwin. 1818Ridge road, Homewood, II. 60430.

4551

,

Practical Approach to Organizational Development' ThroughMBO: Selected Readings by Arthur C. Bed( and Ellis D.

f972. Addison-Wesley Publishing company, Inc.,Jacob Way, Reading, MA '01867

Small Business Manizgement by Hasley N. Bloom-and J. G.tongenecker. 4fh ed. 19751 South Western PublisbingCompany, 5101 Madison Road, Cincinnati, OH 45227

Small Business Management.) A Casebook by W. A. Hosmeret. al. 1966. Richard D. Irwin, 1818 Ridge Road,Homewood, IL 60430.

Small Business Management: Concepts and Techniques forImproving Decisions by John Petrol et al. 1972. McGraw-Hill Book Co., 1221 Avenue of the Americas, New York,NY 10020.

Business Management: Essentials of Entrepreneurshipby Lawrence Klatt. Wadsworth Publishing Company, Inc.,10 Davis Drive, Belmont, CA 94002.

Small Business Man ement Fundamentals by D. Steinhoff.1974. McGrikw-Hil took Co., 1221 Avenue of theAmericas, New' York, N 10020

Starting a Small Business: A Simulation Game by S.K.Gupta and Ray T. Hamman. 1974. Prentice-Hall, Inc., En-glewood Cliffs. NJ 07632.

Starting and Sucteeding in Your Own Small Business byLouis Allen. 1968. Grosset and Dunlap, 51 Madison Ave.,New York, NY 1 0010.

Successful Small Business Management by Curtis E etal. 1975. Business Publications. Inc.. 1818 Ridge ad,Homewood, 11 60430,

Up Y our Own Prganization by Iionald Difile. 1974. ClleEntrepreneur Press. 468 Robert Road, VaCaville, CA95688.

.:)The texts listed \lhelow are among the most p pular.

How io Organize and ,Operate a Small Business by Baum-back et alSmall Business Management by Broom and LongeneckerNew Business Ventures and the Entrepreneur by LilesManaging the Dynamic Smdll Firm: Readings b'y Klan

4 6 ,59

Managing the Small'Business by.Stegall et alSmall Business Management: Essentials of Entrepreneurshipbt KlattSmall Business Management Fundamentals by Steinhoff'

Suggested TextsTexts that are suggested as optional yeading include

most of the previously-listed required texts plus the fol-lowing. The list indicates: (1) the diversity of resource ma-terial available in small-business publications, (2) the diver-sity of disciplines inherent in the study of.small-business

-Tri-inagernent-; arid, in some eases (3) the absence of aclearly defined format of instruction in a dynamicdiscipline.

Basic Business Finance by Pearson Hunt et al, 1974,Richard D. Irwin, Inc., 1818 Ridge Road, Homewood, IL.60430.

Business Information: How to Find .and Use it by M.C.-Manley. MIT Press, 28 Carleton Street, Cambridge, MA.02142. -41

.Business Plan Package. 1972. Technime rics, Inc., 919 3rdAvenue, New York, N.Y. 10012

Complete Guide to Financial Management for Small andMedium Sized Companies by Donala S. dBri,ghtly. 1971.Prentice-Hall, Inc., Englewood Clifts, NJ. 07632:

Developing a Small Firm by Tony Maithews and ColinMayer. London: B.13.C. 1968.

Economics of Technological Change by E4n Marisfield.1968. W.W. Norton and Co., lhc, 500 Fifth Ave., NewYork NY. 10036.

Enterprising Man, The'by 0. Collins and II Moore. 1964.Michigan State University Press, School of Business Ad-ministration,.5J Berkey Hall, East Lansing, MI. 48824.-

Entrepereneurship and Economic Development by PeterKilby. 1971. The Free Press, 866 Third Ave., New York,NY. 10022.

47

59

fo.

Ethine Enterprise in.-America by Ivan. Hs. Light. 1,971. Uni-versity of Ca lifornia Press, Berkeley; CA. 94720..

Factors, in the Transfer of Technology. William H. Gruberand Donald G. Marquis, eds. 1969. MIT Prss. 28 CarletonStreei, Cambridge, MA. 02142.

Financing the Dynamic Small Firm by Roland Robinson.1966.Wadswhrth Publishing Company, Inc.. 1.0 DavisDrive, Belmqnt, CA 94002

Financing for Small and Medium Sized Businesses by HarryGross. 1969: tng1ewo9d Clifts, NJ.07632.

Financing of Small Business: A Current Assessment, The.Irving Pfeffer, ed. 1967. Macmillan Publishing Company,866 Third Ave., New York, NY. 10022.

First Two Years: Small Firm Growth and Survival Problemsby Kurt B. Mayer and Sidney Goldstein. 1961. Small Busi-ness Administration.-

Future of Small Business, The by Edward D. Hojlander.1967. Prager Publishers, 200 Park Ave, New York, NY.1001'7.

Guide to Venture Ca tal kui-ces by tanley M. Rubel.1972.:4;pital.Ptibhslinng Corp.t 10 LaSalle St., North 1330,ChiGago,,, IL. 60603.

A Handbook of Small Business Finance by Jack Zwick. 8thed., 1975'. Small Busless Administration. Available froniSuperintendent of Documents, Washington, D. C. 20402.

How Management is Different in Small Companies by TColln and .Lindbert. 1972. American Management Associ-ation, Inc., 135 West 50th Street, New York, NY. 10020.

How to Raise Money to Make Money bv William J. Casey.1966. pi-entice-Hall, Inc.. F.ngkwood dills, NJ. 07632

How to Run a Small Business- by J. K. Lasser. it h ed. 1971.McGraw-Hill Book Co., 1221 Avenue of the Americas,New Ydrk, NY. 10036

Ideas, Inventions, and Patents: How to Protect Them byRobert A. Buckles. 1957. John Wiley and' Sons. Inc., 605Third Ave., New York, NY. 10016.

Invention and Economic Growth b acob Schmoiokles1966. Harvard t7niversity Pr (ess, 79 arden Street,'Cam-bridge, MA. 02138,

Legal Eniiironment of Business; The hy Robert"Corley et al,.4ed, 1974. McGraw-Hill Book, 'Co., 122'1 Avenue a thelltkAmericas, New York, NY. 10036.

Management of Innovatian, Tl*, by Tom Burns anti G. M.*Stalker. Travistock Vubhcations, 1961. London.

Managing Innovation for Growth and Profit by Ben Miller.1970. D.ow- jc es Irwin, inc., 1818 Ridge Road',"Homewood, 11. 6430.

Managing for Profits by Ilarvey C. kreiviman. 1968. Smallausiness Administration. Available rrom Superintendentof Documents, Washington, D. C. 20402.

NASA Tec'h(o4 Transfer Program: An Evaluation of the'Dissemination ystem, The by Samuel I. Doctors. 1971.Praeger Publishers, 200 Park Ave., New York: NY. 10017.

Organization and Environment: Managing Differentiation&rid Integration by Paul R. Lawrtnce and jay W. 1.orsch.1967. Harvard University Press, 79 Garden ,Seet, Cam-bridge, MA, 02138.

OrgaAzation Makers, The by Yorvis Collins and DavidMoore. 1970. Prentice-111, inc.. Englewocids Cliff; NI.07632.

Pricing Decisions in Small Business by W. W. Haynes. 1973.Greenwood Press, Int.. 51. Riveidale Ave., Westport. CT.

'880.

Research; Development and Technological Innovation byJames Bright. 1964. Richard, D. Irwin. 1818 Ridge Rd.,Homewood, 11, 60430.

Role of Federal Agencies in Technology Transfer, The bySamuel I. Doclors, 1969. M IT Press, 28 Carleton Street.Canthridge, MA 02142.

Science and Technology Policies. (;ilbor Sit asset- andEugene Simons eds. 1973. Ballinger Publishing Co., 17

Dunster To Harvard Square, (:ambridge, MA 02138,

What You S ould Know About Small Business Credit and Fi-nance by Eugene 11. Fram'1966. Oceana Publications, IncDobbs ferry. NV 10522.

49

Small .Business In ormatión Sources: An Annotated Bibliog-raph by Joseph Schabacker. 1976. Inteimational Councilfor Small Buktness, 929 North Sixth Street, Milwaukee, WI53208. .

,

Sourcertf Invention, The by John Jewke et al. 2nd ed.1971. W. W.,Norton 'and Co., Inc., 500 Fifth Al;e., NewYork, NY, 10036.

How To Start Your Own ginineas by William-Putt. 1974.MIT Press, 28 Carleton Sfreet, Cambridge, MA 20142.

Strengthening Small Business Management edited by _JosephC. Schabacker.- 1971. Small Businets Administration.AvailaNe from Stiperintendent of Documents, Washing,ton, DC 20402.

Tax Guide for Small Business.' I nternal-ltevenue Service.(Annually) Washington, DC

The Vital Majority: Small Business in the American Economyedited by Deane CarsOn. 1973. Small Business Administra-tion.

Whatever Happened to Minvity Economic Development? bySamtiel I. Doctors. 1974. Dryden Pres's, 901 N. Elm,Hinskl-aIN II. 60521.

Beriodicals

Many lassroom assignments and discussions can bebased on ,fu particular article in a current periodical. Fhfollowin,g list of periodical trade and professional pLions frequently carry such materiaLand are used in thevariondliAlections acdurse outlines and schedules.

Academy of Mpnagementjournal

Administrativt,ScienceQuarterly

AdA;anced M4nagerilentJournal

American Legion, MagazineBarron'sBest's Insurance Reports.Business, journal of

Fortune

Fut tnes(;eneral Management,

Jolt-mai aHarvard Business ReviewIndustrial MarketingIndustrial ResearchIndutry" Week

Business HorizonsBusiness Policy, Journal of

Business Topics, MSUBUSiness WeekCalifornia .Management

ReviewDun's Review

'journal of Fimrnce

Forbes

Material Resources

Innovationjournal of General

ManagementNatio,n's BusiyessResearch Management

Sales Managementjournal of Small

Dusiness ManagementU. S. News and .World

ReportWall Street journal

In addition to texts and periodicals,, valuable resource' sfor background materials and aid for teaching small busi-ness courses include business, govertiment, institutions,.and organi\zations. 1.isted as resources are the following:

AAmerican Management AssociationBank of America Small Business SeriesDepartment of Commerce, U.S.Dun & Bradstreet, Inc..Inter-Collegiate Clearing House-CasesIhternal Revenue ServiceNCR Corp.Krofessional OrganizationsSmall Business Administration

_Standard Rate and Dina.Tr de and Business AssociationsUniversity Microfilm:

Dissertation Abstracts InternationalIndex to American Doctoral Dissertations

Organization Resources

Some instructors use organizations as a resource forguest kcturers as well as counsel and guidam-e in coursedevelopn'ient and stucknt assistance. Some groups are:

Active Corps of Executives (ACE)Chanther 'of (iommerce

51

,s

grProfessional OrganizationsService Corps of Retired Executives (SCOREK)Trade Associations

Classroom Methods

Mail), of the recent- additions to the courses in smallbusiness management ;ire the ,direct result of the SAA's

Business Institute Program. In many schools,'tbere' is no existing course of study which educators can.consult

in designing a small business management program. This-Tact could very well be one of the reasons For the pheno-moml success of the SAI Program,and tbe rapid growth inthe,number of participating SchOols.

Educators designing many of the new small businessmartagvnent programs rely heavily on the case history ap-proach. Many schools are deve1oping their own cases, be-cause of the huge diversity of problems encountered insmall businessspanning many- of the traditional businessdisciplines.

A more visible addition to school tikissroorn methods isthe use of guest lecturers. There are several -reasons forthis expanding practice in schools of business teachingsmall business thanagonent. In Some cases instructors arenot available to handle the subject matter relevant to smallbusiness. In oth.ers, distinguished facility are indifferemt tosmall business courses (a condition which is fortunatelydiminishing). On the positive side experts in the privatebusiness sector want to help in the growth of small businesscourses. Moreover, many small business instructors in collleges and nniversitites see public relations value as well asacademic value in getting thernselves,and their students in-volved in and with the,"real life" business world. All in all;more cmirse leaders are using more "raf-f--caniptis- instruc-tors [or saill business cOlirteS,

Other methods, being used in the courses includeguests Nilo serve in a panel ol in a forum setting in theclassroom. Generally, the subject matter expepise of _theguests is relatel but not identical. %liken the time is limited,such a panel requires a strong and discTete chairperson tokeep the, discussion within the as(igned subject and timelimit.

Teacher andSwdent Reactions

When "small business goes to college," the reactions F

teachers and- studenw vary. The following are representa-tive of the most common ones. Some responses relate -tocourse Objectives while others bear on singulkraspects ofcourse or program. Some are of a personal nature; othersare of a professional nature. And some carry predictions ofthe future huccess for offering a course in small businessmanagement or entrep.renenrship.

Boston College reports that, the in-depth reports ofthe strategies, policies and their implementation in actual,living small businesses with which the students preparingthe repoi-t have some close association was the single, mostsuccessful aspect:cd the course. The students reports werevaried, and bach presentor not only prepared a report butddivered the outline orally before the class. The one not-so-successful outcome was that written policy-type casq on'small business were not able to be compared with actual,.real-life studies of actual businesses. Overall results indi-cate a high percentage of satisfaction among the students.One neW venture was brought to the start-up phase duringthe course by two of the participants. Several of the stu-dents were from entrepreneural families and their inputshelped others. but in some instances clarified their own .objectives and plans.

Another school, DePaul f;niversity, Graduate Schoolof Busines.s, reports that the results were highly successful.

53

5.9

The course was highly respected by graduate ;tudents be:cause it has an immediate application. It was well acceptedby other senior faculty. TI?e director of graduate.studies isattempting to obtain acCeptance of a series of courses inentrepreneurship.

-Because our course is an' elective," Eastern Michigan

Universty, says, "it is popular with those taking it and in-,cludes students or all disciplines in business. Because of apolicy of annual departmental review of ail coUrses, over-lap is minimized, and acceptarire by faculty is favorableand problems .are kept tQ.a minimum. The coutse is con-sidered difficult to tatich. Various students report thecourse has helped them- in- Making feasibility studies ofproposed projects or in establiOing a value of a businessbeivig consideied for purchase. Others have said that thecourse has enabled them to improve the operations ofbusinesses they own'and operate. Some benefit personally,

'through a combination of detail and *an overall vieW."

New Ventures , 4

The interest in new ventures 'seems to be increasingamong students at Emory University, "Whether 'the appealis in the noxelty from traditionkcourses or a permanenttrend remains to be seen. ManOf the students come fromentreperneural families, and a., certain number eacii yearcontimtes in the same c-licat'acteil. Wvy ol- the alumni aresuccessful entrepreneum *We ,are teying to design a Ion-gitudipal study to help determine tlie.4ong term effects ofnew venture courses on stu 'tits cilteers.-

Two Distinct Groups f.

At California State, U .niversity resno, "The classgenerally has from 8 6 15 students enrolled and thesebreak out into two groups. Those who enjoy,independentactivity and those who are,lost without a spt;cifie day-to-dayprogram; I-he latter are usually badlY frustrated by the ex-mience. Some businessmen are less than excited about

a

the results as well. Often'. when they lind out that the classhas no yeady sokKce of needed capital for the business. gighelp being provided.,by the students becomes pointles inphOusinessmaris

Emory University rcports,,"AlthoUgh popular withstudents, these courses do not seem to be as aeademically'respectable' as other courses. This is possibly due to theactign-oriented nature of courses. Entrepreneurship is dif-ficult to handle by intellectual verbalization alone. Progressto increase stature among some colleagues is slow. Progresswould be much greater.if the regard system of the univer-.sity was modified to accommodate this kind of activity."

4

Standing Ri;otn Only

"Ttre course has been successful," Ferris State Collegereports. "Requests -exceed seating capacity available everytime the course is offered:'Many of our stutieths visualizethemselves at some time or other being involved in a smallbusiness operation. The course is also quite popular withstudents who are not enNled in our school of twsiness.Particularly those in programs whicb,logically lead eventu-ally to small business ownership."

"Rated very highly by stud nts," Florida Atlantic Uni-r-ity reports. "We are in th process of offering a maiorsmall busMess."

A professor at Frostburg State College says, "My ex-perience with this course has been most rewarding. We areproviding a much needed community service and the stu-dents ,are, benefiting from this educational experience.Most of them consider it one of the most valuable experi-ences in their 'pursuit of A master of science and manage-ment."

to Formal student evaluation rated a cqurse as "above av-erage" ato "exceptional" in comparison with other electivecourse offerings at Georgia State UT14ersity. Another -con-sistent theme in student response \Was that the course re-quired a .great deal of time and effort in comparison with

5 5 6 j

other. courses. More wer, out-of-class work generally pro-yes to be a hardshipghn those students empkryed full time.

"Response to the vourse htis been excellent," at Michi-gan Technological University. "It is viewed by students itspractical, and it allows them to explore the possibilities ofsmall business management without actually establishing, abusiness. Academician4 accept- the course as emphasizing 111sector of t economy that is Often neglected in businesscurricula at i itutes of higher learning. Several successfulwall businesses as)a result of the course. Thiscourse and o are particularly oriented to theneeds of local ectip, ies depend 'heavily on smallbusinesses!"

Rutgers University reports that the overall perform-ance, is currently considered excellent from both the in-strudor's and the client's viewpoint., "Students considerEntrepreneurship,and Consultation as a capstone course tothe MBA degree. It is considered more difficult ind re-quires somewhat greater effort and time than othercourses. The coiiirse is offered by one of 'the' five depart-ments in the Graduate School of Business. It, is-highly re-garded by other departments. The entrepreneurshipdepartmlht feeds back to other departments levels of ex-pertise acquired and used by students in problem solving."

es

Real World Cases

A school on the West coast reports: "For the studentsparticipating in the program who do not need to be led bythe hand, this class is very beneficial. The course allows thestudent to be innovative and to seek answers through hisown initiative. The students feel that they are learningmore by using 'real world' cases than by analyzing textbook caws., All of the students who participate have vervfavorable opiiiions of the course. Student interest is con-tinually increasing.

The report went on to point qut "initially there washesitancy among Other professors r accepting the courseas academically sound. Now that they see the -results of theprogram in successful operation, along with student en-thusiasm, heir,suppon and interest is growing. Students at

56 6 r)

this university 'artused to highly stru.ctured tettbookdr,iented classes, and many find it difficult to adjust t Theindependent type of reasearch necessary' for this c urse.They juAt get a feel for it when the semester ends.

"Student comments .have demonstrated a great deal of'emhusiasm For the course at the University of' SouthCarolimi. "The most salient point that the course demon-strates is the limited usefulness fOr small business of manyof the subjects now required in the typical school ofbusiness."

Practical Recommendations

Wake Forest University states that-its course in smallbusiness management 1,jvas itited extremely well in theevaluations done by students. he instructor feels that thesuccess can he atitribiped largely to the imegrAtion of pr(j-ects and other conventional teaching methods sUch as testcases and itas-disrussiorr: His conclusions and regard tothe projects were: "(1) The student groups did an excellentconsulting job. Specifically, they identified key problemareas in cases where the client was unable to outline a slit-rifle well-defined problem. They worked well with theclient on developing the se4e of the project, the recom-mendations were practical and well suOorted by analyskand if implemented by the chent,.slioyild be of value. 'Westudents exhibited' good initiative in contacting and com-municating with their client and prchenting their findings;and (2) Students achieved to remarkable degree the mainobjective of the course, thiit is, the ability to appraise smallbusiness and the entrepreneur."

Learn All'Aspects'

Ihe Universitl of California at Los Angeles offers, acourse -that is a 'combination of starting mannfacturins andtechnically-oriented service businesges. The instrUctorscomments'are that to get the bev. results, "this kind ofcourse should be broken down into three steps, and thatthe last step mnst be subsidized. The first .step is to ac-quaint large numbers of potential entrepreneurs with what

57

6 rN

.

the overall pirture is, and..what they slrouldiconsider 'be-t:ore going further, The second step is to shik those whowant to go further how ti) find and evaluate an idea for anew venture. Those who can successfully find and evaluatean idea can enter the third phase'vehich is the longest. Thiswtmld cover him to turn that idea into a successful busi-ness.

"I believe this three-step program could be properly.. financed so that each step would be self-selecting and )o

that only I0 percent of those entering step one would endup entering step three, and that Over 50 yercent of thoscompleting step three .would actuall start businesse andbe successful."

East Carolina University reports, "I k it is probablytoo early for the course to have a significant e ct on the

'Student's careers. The starting salaries for MBA ,gt duatesappaeently have led nearly all of them to becOme e ploy-ees rather than employers, initially at least. Assessm in ofthe effects of the course could be- acc(fmplished: by jues-

,1-,1 -tionnaire and interview after the first entreprene irsiiipclass has had more opportunity to move fOrward in time.The principal difficulty obviously would be the ability to.locate other than a stratified sample of those students."

Course For Non-Business Students

"Upon the request of several engineering students last*.ar

summer," Florida Atlantic University reports, "we offereda special. section of the course (ipen only to non-busniessstudents. Witt) little publicity, almost 30 students enrolledin the course. It was taught at a somewhat more elemen-tary level and several cases were substituted for the usualproject. .Although the students hird no prior biasinesscorn ses, they 'performed remarkably well. Originally, wehad ptianned on Using nianv hical successful entrepuIlelit'Sas visiting sjwakers. We found that a good perCemage per-formed rather poorly in a classroom situation. If localbusinessnwn arc used. Mey should be card tillY selected,given proper orientation mgarding Ow student's back-ground and Int nished with guidelintrs lor t heir session.-

5H

61

Explore Entrepreneural Career

Havard Graduate School of Business says that it' is notthe objective of its trs to encourage students to start orbuy companies eithe imm lately after graduation or atsome future date. "The purpose of the course is that thealternative of an entrepreneural career toe explored realis-tically and in detail in terms of the requimd skills andknowledge, the ,opportunitites and risks, and the accom-panying uncertainties and life-styles. As a consequence,some students enter the course with an interest which in-creases as they learn more. Others, as they learn what sucha career requires and entails, give up the idea or decidethat they are not yet ready. In the view of the instructor,insofar as the course has been helpful in a better under-

. standing for the above dicision, it hai been successful.:Thus far no organized study has attempted to measure the

mheffect of the course upon the number .of companies ini-tiated .or the success of those companies. Historically, ap-proximately 20 students or, 5 percent of those taking thecourse, start coapanies immediately upon graduation, anda iarger number eventually become envged,, in that kindof activity. It would appear extremely difficult to deter-mine the significance which the 'course might have had inthe initiation of these companies.-

5"

s

6-

On i3alanceIn this booklet you have seen three things: (1) the di-

versity that ,exits in college and university teaching of smallbusiness'management tuourses, (2) the strengths in suchundertakings, and (3) the weaknesses.

The strengths and wpknesses are often intertwined'.For example, some of 'the couKses take a great deal of thestudent's time bec-ause of' involvernent in, as one professors*, "real world" cases, Yet out of' this involvement andtiMe-consuming work comes a degree of practical experi-ence that is unavailable from any other approach.

Students cannot be specialists when they are workingin smalfbusiness managementif They have to be generalistsand learn all aspects of' managing a small business. Manystudents like this approach. StudentAit the University ofCalifornia'at Ber.keley, fOr example,'"tell us that they Con-sider this course one of the best in the graduate school."The reason, according to a report, Entrepreneurship&MentionA Bicentennial Compendium by Karl Vesper, is:

"One particular case forces the student to learn all as-pects of operating a busines's rather than being a spedalistin a particular fields The guest faculty have such out-standing and engaging personalities that the sessions whichare held on Wednesday evening, generally between 7 .ind

10, are sometimes attended by students from the schools of'law, engineering, and architecture" as .well as' those frointhe school of' business.

Another strong point is the courses give students theopportunity to explore an entrepreneural career. They:canmake mistakes cheaper in the classroom than in the years

60Ge

after college when they are working in the com-petitivemfrketplace. htts, investigating whether or not to pursuesuch a career in small business ownership may be, one ofthe most profitable lessons some students, learn in college.

In this cortnection, the Amos Tuck School of Businessat Dartmouth College reports:

"The course fits a particular ne'ed in the school, Itbrings students into contact with small business issueswhich are' not addressed in other aspects of the cur-riculum. It extends the offerings in bnsiness policy, fi-nance, and organization behavior into some unique areas.The continued interest of the student body, alumni, awloutside parties in the'course indicates its validity. We hopethat the ,course will make some students more.willing andable to undertake new enterprises of- their own. We hopethat it will discourage olhers from doing so when they arenot properly suited temperamentally."

A strength or weakness, depending upon your view-,

point, is the statement that small business management\ courses are difficult to teach. As one professor says, "En-trepreneurship is dif ficult to handle by intellectua verbalization alone." He Feels that the action-oriented rturethe subject is partly responsible for this difTIculty. The useof cases and counseling assignments with owners of smallbusinesses help students li) realiz; the problems in 'smallbusiness management and to seek sohltions to them.

One ol the problems has been lit eratiire that, was6 ,

written for highly structured organizations rather than fOrsmall 1?usinesses. As the University ol Alabama said in theVesper Compindium:

"Much of what we dealt with in class contradicted boththe textbooks and much of the literature. The instructorsfeel that more attention should be given to classification at

.this stage so that the literature C a n si!lve problems or de-scribe evems in a more orderly Fashion. For example, con-fusion Ovelops when the word 'entrepreneur' k used inthe same article intexhangeablely with 'small retail ownerand with the industry maker.' Confusion develop's when welink the independent entrepreneur with the administrativeemrepreneur. Confusion develops when we consider or-thodox micro-economic theory and stress maximization'ofprofits by independent firm versus maxiinizing capital gainwhen unloading a venture."

61

67

Another comment that merits reflection is the opinionthat cou*s in small business in some institutions 'standoutside the pale of other curricula. One professor ex-pressed it as follows: "Althotbkh popular wirh students, thecourrs do not seem tp he as academically 'respectable' asothe4courses." lie went 00 to say, "Progress to iiwreasestature among some colleagues is slow." lie thought prog-ress would be faster if the univertity's system°1 evaluat-:.ing professionalaccomp)ishment (the regard,stern, as ir isInown in some circles) was modified "to actOmmodate.this kind or activity."

One probkm that needs attefrition may appear to beterminology, but it concerns stibstence. Whatt is the diffgr-ence between courses irA smitlr businesk niiinagement andcoiffses in entKepreneurship?.Wheil is the owner a man-ager? When is he or she an entrepft.neura person who isinvorved with innovation and risk taking? Some of thecourses listed as courses ipleiiiT'epreneurship may notnecessarily be that. Scrufiny indicates them-to be closer tohusineSs managerrnt courses with a little philosup,hy tos-sed in. Thus, defining What is being taught, as was statedearlier in this booklet', needs attention.

As a concluding note, small,business in colleges.is alive-whether it is called sMall business management, ,smallbusiness policy, or entrepreneurshuii One ,sign of tilis vit-

ality is the new A)entures that are started as a resnit,of tbecourses. As*the Amos-Tuck School 01-Business reports:

"We do hope that a suWantial number of ou stu-.dents will start ney ventures Fl3re has been ict andsuccessful trend in this directi since this course was firstof let:ed eight years ago. I 0 da e we have at least 32 knownenterprises started by tne people who have taken thecourse. None of these have gone bankrupt to date. We in-tend to continue to develop the course, and wt. hope to fillsome of tlw significant gaps in the literatnie'on the practi-cal aspe( ts oreutrepre.neurshtp.-

6fi2

N

a

Appendix

Schools Offering CoursesIn Small Busiriss .

Management:ariclEttre eneurs. .,., . .

.. ...b

Pr .'i ,'nye co 4lyst.i#Ii:Veti4f40$ :lib') tiiiA -stfikpclix art,.

.frilrri'jiii.:resppuck:1)(:)'04GC.90-0:4Teri40 ii,':%10111' sulit;eits.,AltitglitnliefitiZer .eneu rjiiiiii./11,...),13'il.r,si "rspilr Ls ( 111t"

' ..

' StWkliS ,:ii:0-th ,Orkoi,ekgics' riap;*st-j*kii:n1I'w,11)2Otat.:, )4 \c''I'proyieW' -eithey, il:- iilOrge rti4,:r1pq (iil -4 )±yilitn in ,ievoi-,motiv,

kir.ILVey' 614 ik N . it,*: 11! 0 (.-., (Sit 1 .;ircz?It...k.',ta.t;ij.12ichard -Kt*, lki.1o.i.,,i0M.).., :..ist.t,i....c.if.ol-02'SOtom0,'......::

,and, K.arl V0&. Si:i.pcesi-N.Sq1(4-rititi:e 4-1;e§,iiint."tiyilibiMr smali-bugilies,m4nageiTitn4ancj 1..i.c-entrefore'nel,irsIrkip.

.- )nly lour *frur-sch'o(ils'i:/te.art reache(f.in IV titucveyst,, , , ,

. I

''' - ',"r1k.

.1 ''. :Altikhe Christian C6tIegf

.. ', Business'Aclinin'stration IlepartiTOtAhilene, Per.xas '0614,

t

Univk sity'Stheollif Busi ess4ftainistration.Garden.Cityt willork 11.00'

44 s)

. , `, N ---4 r--,'., * V

orge Soicarnop.,and Marc Sr3F.liny; it .ishe Genc1/4ral `Stcrytary.\ Internati Counc il 1oM1 -ok ,.., .,.

?-negs,-929ilortsti Sixth Stret, klilwankee, WisconsinN.

\

"

%,

r ks

I

'1

% University of AkronCollege of Business AdministrationAkron, Ohio 44304

(Joseph C. Latona)

University of AlabajnaCollege of Commerce and B11811Graduate Skhool of Business.University, Alabama 35486

(Frederick A. Webster) '.

Alabama A & M -UniversitySchogl.of BusinessNormal, Alifiairiti 3576A

,

Alcorn Ciate'UnviersDepart ent of businilkLorin sisaippi 39096 `

",'

,

University of Arizona'College ot Busine'ss:anclTucson, Arizona 85721,

(Rex V. Call)

'Arizona State Univers,Coikge of Busine§s A

Arizona 85281(S. E. Miller)

Pb1ic' Admi,nistrati''4

esS Administration

.

sUnivi4sity AFkansas at Little Rock. ,

; Division of Business Administration.\ J.ftie.Rock, Arkansas 72204

(114 Robbins)

",1

nistratiOn,.

Arkansas POytechinic CollegeSchOol of Systerns Science

.Russellvitle, Arkansis 72801

,Babson Col Fege'13alison Park, MaaSsachusetts 02157

Bentley CollegeWaltham, Matsachusetts 02154

IR.' W.. Cybulski)

f1.1 70

,1

,;. '

. Theeniard. M. Raruch CollegeThe City ,00Persity of New YorkSehool of Busi4ess and Public Administr;ation17 Leatingtfon A.;,enueNew. Yolk, New York 10010

Bayfor.UniverShy. .Hankamer School of BusinessWaco,Texis'76706

(J.G. L6ngenecker)J. E. Schoen)," .,

.Ishop'Collegeyision.of Business

TexAs 7524

C'ellege.Office ofSBM Services

6120.G:Stahl)

itioomsburg.State CollegeSkhool of Business .

Bloomsbuig., Pennsylvania 17815-

-,4oise State UniversitySchool of Busineis1910 Campus DriveBoise Idaho $3725

(Larry Waldorf)

' BOston CollegeSchool of ManagementChestnut Hill, Massachusetts 02167

(Thomas W. Dunn)(R. B. Maffei)

Brigham young UniversityCollege of BusinesS

/Provo, Utah, 84601(Prof. Stanfordj

Butler UniversityColleee of Business AdministrationIndianapolis, Indiana 46208

University of Cali ornia'School of Busine AdministrationGraduate School of Business Administration

OBerke)ley, California 94720(L2B. Helzel)

6 5

1.

University of California, Los AngelesGraduate Schocll of ManagementLos Angoles, Cartifbrnia 90024

'(Arthur H.1Kuriloff)(Hans Schollhammer)

California State CollegeDominguez Hills ro.

School of ManagementCarson, California 90747

California State College, San BernardinoSchool of Adminiktratton5500 State College ParkwaySan Bernardino, California 92407

- (John S. Chaney)

california State PolytechnicUniversity, PomonaSchool of Business Administration.Pomona, California 91768

(Warren C. Weber)

California State University, FresnoScliool of BusineskFresno, California 93740

(J. Parry Dodds)

California State University, FullertonSchool of Businesk Administration and EconomicsFullerton, California 92634

(E, A. Pomeroy)

California State University, SacramentoSchool of Business and Public Administration6000 Jay StreetSacramento, California 95819

(H. Nicholas Windeshausen)(Richard E. Hill)

Canisius CollegeSchool of Business AdministrationBuffalo, New York 14208

(Jay A. yora)

Carnegia-Mellon UniversityGraduate School of Industrial AdministrationPittsburgh, Pennsylvania 15213

(John R. Thorne)

66

72

470

Case Western Reserve UniversitySchool of ManagementCleveland, Ohio 44106

Central Michigan UniversitySchool of Business Administration .Mt Pleasant, Michigan 48859

Central Missouri State UniversitySchool of Business and EconomicsWarrensburg, Missouri 64093

University of ChicagoThe Graduate School of-BusinessChicago, Illinois 60037

Chicago State UniversityCollege of Business and AdministrationChicago, Illinois 60628

(Robert N. Allen)

University of Cincinnaticollege of Business AdministrationCincinnati, Ohio 45221

Clarkson CollegeSchool of ManagmentPotsdam, New York 13676

The Cleveland State UniversityThe James J. Nance College of Business AdministrationCleveland, Ohio 44115

(Jeffrey C. Susbauer)

Univeriity of ColoradoCollege of Business and AdministrationGraduate School of Business AdministrationBoulder, Colorado 80302

(John B. Kline)

Columbia UniversityGraduate School of RusinessNew York, New York 10027

(John G. Hutchinson)

67

;

Cornell UniversityGraduate School of Business and Public Administration303. Malcott HallIthaca, New York 14850 1

Creighton UniversityCollege of Business AdministrationOmaha, Nebraska 68178

Dartmouth CollegeThe Amos Tuck School of Business AdministrationHanover, New Hampshire 03755

(j. B. Quinn)

De Paul UniversityCollege of CommerceChicago, Illinois 60604

(Michael Z. Massel)

0University of DetroitCollege of Busineu and AdministrationGraduate SchoolMcNichols*Road atI(ivernoisDetroit, Michigan 4221

iast Carolina Universitychool of Business

Greenyille, North Carolina 27814(R. B. Keusch)

East Tennessee State UniversityCollege oF Business Administrationsand EconomicsJohnson City, Tennegsee 37601

East Texas State UniversityCollege of Business AdministrationCommerce, Texas 75428

EasterO Michigan UniversityCollege of BusinessYpsilanti, Michigan 48197

(Charles F. Hoitash)(D. W. Magoon)

Eastern Washington State CollegeSchool of Business ind AdministrationCheney, Washington 99004

(Robert H. Briscoe)

fiK

40100..

Emory UniversitySchool of Business AdministrationGraduate School of Business AdministrationAtlanta, Georgia 30322

(Merrill E. Douglass)

University of EvansvilleSchool of Business AdministrationEvansville, Indiana 47701

Fairleigh Dickinson UniversityCollege of Business AdministrationTeaneck, New Jersey 07666

(H. T. Blekicki)

The-Federal City Co)legeSchool of Business and Public Managmeent1331 H Street, N.W.Washington, D.C. 20005

. (William L. Crump)

Ferris State CollegeSchool of BusinessBig Rapids, Michion 49307

(Alex S. Pomnichowski)

Florida A & M UniversitySchool of Business and Industry.TalWiassee, Florida 32307

Florida Atlantic UniversityCollege of Business and Public Administration-Boca Raton, Floritla 33432 .

(Lawrence A. Klatt)

Fort Hays Kansas State CollegeDepartment of BusinessHays, Kansas 67601

Frostburg State CollegeDepartment of Economics and Business AdministrationFrostburg, Maryland 21532

(Terry Gaston)

69

4."75.

Ta

4.

The George Washington UniveqitySchool of Government an4 Busiiiess AdministrationWashington, D.C. 20052

(George Solomon).

University of GeorgiaCollege of Business Admit!' ion.Athens, Georgia 30602

4.Georgia Institute of TechAlogyCollege of Industrial Management225 North Averse; N.W.Atlanta, Georgia 30322

(E. E. Fyffe) .

Georgia Southern CollegeSchool of BusinessStatesboro, Gorgia 30458

Gecprgia State UnviersitySabool, Of Business Administr

t, thkiver.sity PlazaAtlanta, Georgia 30303

(N. Carroll Mohn).

Golslen Gate Uliivirsity,Criduate College of BusinessSan Francisco, California 94105

Hardin-Simmonl UniversityDivision of Business and EconomicvAbilene, Texas 79601

University of HartfordAustin Dunham Barney School ofBusiness and Public AdministrationWest Hartford, Connectkut 06117

-(Paul Mali)

Harvard UniversityGraduate School of BusinessAdministrationSoldiers FieldBoston, Massachusetts 02163

(Patrick R. Liles)(Philip H. Thurston)

)14

7 0

-

University of HawaiiCollege of Business Administration2404 Alai le WayHonolulu, Hawaii 96822

(R. E. Peterson)(K. K. Seo)'

Univeirsity of HoustonCollege of Business Administration3801 Cullen BoulevardHouston, Texas 77004

University of Illinois at Chicago CircleCollege of Business AdministrationBox 4348Chicago, Illinois 60680

Illinois Ibstitute of TechnologyStuart School of Management and FinanceChicago, Illinois 60616

Indiana UniversityThe School. of BusinessThe Graduate School of BusinessBloomington, Indiana 47401

(J. M. Waldman)

University of IowaCollege of Business AdministrationIowa City, Iowa 52242\ (Clifford M. Baumbacie

University of KansasSchool of BusinessLawrence, Kansas 66045

Kansas State UniversityCollege of Business AdministratipnManhattan, Kansas 66506

Kearney State CollegeDepartment of BusinessKearney, Nebraska 68847

(Royce A. Lorentz)

Laurentian UniversitySudbury, Ont., Canada

(Kenneth E. Loucks)

71

Yo

Long Island UniversityC. W. Post CenterSchool of Business AdministrationGreenvale, New York 11548

(Philip Wolitzer)

Longwood CollegeDepartment of BusinessFarmville, Virginia 23901

Louisiana Tçcb UniversityCollege of BUsiness and AdministrationBox 51796, Tech StationRuston, Louisiana 71270

University of LouisvilleSchool of BusinessLouisville, Kentucky 40208

Loyola Marymount UniversityCollege of Busingss AdniinistrationLos Angeles, California 90045

(W. F. Kiesner)

Loyola UniversityCollege of Business AdministrationNew Orleans, Louisiana 70118

niversity of Maine at OronoCollege of Business AdministrationOrono, Maiue 04473

University of Maine at Portland-GorhamSchool 9f Business,and'EconomicsPort lanai, Maine 04103

Manhattan CollegeSchool of BusinessBronx, New York 10471

(F. Abdulahad)

University of MassachusettsSchool of Business AdministrationAmherst, Massachusetts 01002

(Guiltinan and Elkins)

Massachusetts Institute of TechnologyAlfred P. Sloan .4chool of ManagementCambridgeMassachusetts 02139

(Y. T. Li)

72

Miami UniversitySchool of Business AdministrationOxford, Ohio 45056

(J. B. Gifford)

The University,of MichiganSchool of Business Administration.Graduate School of Business AdministrationAnn Arbor, Michigan 48104

(La Rue T. Hosmer)

University of Michigan-DearbornSchool of Management4901 Evergreen RoadDearborn, -Michigan 48128

Michigan State UniversityThe Graduate School of Business AdministrationEast Lansing, Michigan 48824

Michigan Technological UniversitySchool of Business and Engineering AdminisirationHoughton, Michigan 49931 .

(G. R. Butler) a.

Middle Tennessee State UniversitySchool of BusinessMurphreesboro, Tennessee 37132

Midwestern UniversitySchool of Business AdministrationWichita Falls, Texas 76308

Universjty of MinnesotaColJegof Business AdministrationGraduate School of Business AdministrationMinneapolis, Minnesota 55455 4.

University of Missouri-ColumbiaCollege of Business and Public AdministrationColumbia, Missouri 65201

University of Missouri-RollaRolla, Missouri 65401

(John Litvan)

73 9

Montclair Suite CollegeDep-artment of Administratiye SciencesUpper Montclair, New Jerses*07043,0

Moorhead State CollegeBusiness,Ohdustry, ind Applied ProgramsMoorhead, Mi.nnesota 56560

Murray State UniversityCollege of Business and Public- AffairsMurray, Kentucky 42071

Tile University of 'Nebraska at Oma6College.pf Business AdministrationOmaha, Nebraska 68101

(David M. Ambrose)

University of New HampshireWhittenmore School of Business and EconomicsDurham, New Hampshire 03824

(R. S. Jenks)(W. E. Wetzel)

University of New HavenSchool of Business AdministrationWest Haven, Connecticut 06516

(I.ouis Silbert)

The University of New MexicoRobert, 0. Anderson School of Businessand Administrative SciencesAlbuquerciue, New Mexico 87131

4

Newilkcic tate.4

University ..Collegkid*. silness* A dinjnistratioirion' .:ReonornisLas Cruces; New Mexic688003

University of New OrleansCollege of Business AdministrationNew °Orleans, Louisiana 70122

(Kenneth Lacho)(Albert A. Newman)

New York Institute of TechnologyDivision of Business and Management888 Seventh AvenueNew York, New York 10019

(S. D. Slingsby)

718 n

New York University.College of Business and Public Administration800 Tisch HallWashington SquareNew York, New 'York 10003

North Texas St Ate UniversityCollege of Business AdministrationDenton, Texas 76203

Northeast Louisiana UniversityCollege of Business AdministrationMonroe, Louisiana 71201

A

Northeastern UniversityCollege of Business AdministratIonBoston, Massachusetts 02115

(J. A. Timmons)

Northgrn Illinois"UxiversityCollege of BusinessDelia%) Illinois 60115

Northern Michigan UniversitySchool of Business and ManagementMarq 'Ilene, Michigan 49855

Northwestern UniversityGraduate School of ManagementLeverone Hall2001 Sberiaan RoadEvanstOn, Illinois 60201

(Charles W. Hofer)

University of Notre.DameCollege of Business AdministrationNotre Dame, Indiana 46556

It* (Franh Yeandel)

Ohio State UniversityCollege of Administrative ScienceColumbus, Ohio 43210

(C. J. Kalangi)

University of OklahomaCollege of BUsiness AdministrationNorman, Oklahoma 73069

(James A. Constantin)

75

J

-Pklahoma S4te University,College'of Business' AdmilmstrStillwater, Oklahoma 740'AP

. (Winefield P. Bitty)(William M. Kincaid)

tion

Old Donitniort UniversitySchool of Business AdministrattonNo tilk, Virginia 23508

Miami F. Whitbeck)

. University of OregonUndergraduate School Of Business. .

. ' Graduate School of Management and,BusinessEukene, Oregon 97403

(G. G. Udell) . ,

.Oregon State UbiversitySchool of BusinessCorvallis, Oregon 97331

University of Pennsylvaniahe Wharton School

36201.ocustWalk. Philadelphia, Penfisylvania 19174

(Parki Mader and Zucker)t

the Pennsylvania State UniveriityCollige of 'Business Administration106 Business Administration BuildingUniversity Park, Pennsylvania 16802

Pepperdine- University )School 'of Business and Management

, Los Angelei, California 90044(Byron D. Lane)

.

University of PittsburghGraduate School of BusineisPittsburgh, Pennsylvania 15260

(Samuel 1. Doctors)

niversity of Portlandchool of Business Administration

Portland, Ciregon 97203(Robert B. Pampjin, Jr.)(Roger A. Crabbs)

76 0-.8

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Trlanit State'UnversitySchoNil laf.'Busineis AxIminiAr.ationP.O. Boit 751 qb,Portland, Otegon 97207 7

P:. Allen). .

.. ° PirrduelIoiversity.,.. 0. ,S.

t School of Industrial, Managemen. t. KIrennert Graduate School'of Industrkal Administration ,

I West Lafayette, Indiana 47907 . ,,,(Arnoldi. CP per) . .4.

0.

,University of Roc ester

. Graduate Saiool of MangementRochester, New York 14627

Rutgers UnrversityThe State University of New Jersey

raduate School of Business Admiyistration.enark, New Jersey 07102-

(Louis German eral)

Saint Cloud State CollegeSchool of Business,Saint Cloud, Minnesota 5,5301

(Winston D. Stahlecr)(Al Pabst)

St. John's UniverrityCollep of Business AdministrationUtopia and Grand Central ParkwaysJamaicai_New York 11439

(S. M. Goodman)

Saint yuis UniversitySchool of Business Administration3674 Liedell BoulevardSt. Louis, MiMag 63108

(Robert H. Brockhaus)

University of San DiegoSchool of Business AdministrationSaneDiego, COifornia 92110

..Sal Diego StatenUniversitySchoolof Business AdministrationSan Diego, California 92182

77

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at

San Francisco State UniversitySchool of Business1600 Holloway AvehueSan Francisco, California 94132

(Audrey A. Warren)(Ralph J. Grant)

Sap Jose State UniversitySchool of gusinessSan Jose, California 95192

(H.; A. Williams)

SanganiOn State UniversityProfessional Stuay ProgralmSpringfield, Illinbis 62708

University of Santa ClaraSchool of Business AdministrationGraduate School of Business and Administration

,Santa Clara, California 0053U S. Ewibg)

41116 - Univeysity of South CarolinaCollege wf BusinessfAdministrationGraduate School of BusinessColumbia, Stiu'th Carolina 29208

' (H. H. Hand)(A: T. Hollingswgbrth)

University of South Dakota,School of BusinessVermillion; SouthADakota 570691

Southeastern Oklahoma State UniversitySckool of Business and IndustryDurant, Oklahoma.74701,

University of Sotithern'CiliforniaSchool of Business,.Graduate SChool of Business AdministratiOn

--,Univrrsity Park-Los Angeles, Cilifornii 9007

(Herbert E.1(ierulff, Jr.)

Southern ethodist UniversitySchool, of usiney; AdministrationDallas,\Te s 7075 -

(Ric% d F. Tozer) ve,

.(John Welsh)

4*'

*IP

Rik

Southern Oregon State CollegeDivision of BusinessAshland, Oregon 97520

Soythwest Missouri State UnirSchool of BusinessSpringfield, Misstiuri'65802

Southwest Texas State UniversitySchool of BusineSsSan Marcos, Texas, 78666

Stanford UniversityGr'aduate School of Rtisiness*Stanfprd, California 94305

(Steven C. Brandt)(H, E. Riggs).

Stephen F. Austin,State UniversitySchool of Business

Nacogdoches, Texas 75961(Cattaid Phillips)

'Temple University:1k,- - _ A tSOO& ,of BusinesiAdmihistration....

,ennsylVinia. 19122.,,(jack 1.. cross)

N,'thikersity of ennessee, Knoxville

AdministrationKnoxville; Tennessee 37916

.,,

The Univergity. of Tennessee at Martin..UhoO,1 of gusiness Adrninistratiori.Martin, Tenne9See 38237

Allah

, TennOgeeState University\Department of Busiriess Administra ion and EconOmicsSsrasiMile, Tennessee 37203

,

Uriiv.ersity of Te4caat Aiistincollepi.of Business AdinThistr tionGraduate School oCBlisiries . .

Austin, Tekas 78712 ,

. (Kerinth W. Olml..

,)

, 79 ',... , )

Texas Tech UniversityCollege of Business AdministirationLubbock, Texas 79409 '%"'

(R. E. justis)

Tulane UniversityGraduate School of Business AdministrationNeNv 'Orleans, Louisiana 70118

(Richard Hays)

University of TulsaCollege or luSimss AdministrationTulia, ;Oklahoma 74104

(Lyle, R. Trueblood,)*

Univ'ersity of UtahCollege of BusinessSalt Lake City, Utah S4112

"

Ustph State UniversityCollege Of BusiAess

-Logan, UtA 84322.(JoSeph K. Papenfuss

'Valdosta 'State CollegeSchool of BusineSS Adminis r4tion ';VAlosta", Georgia 3160

I

Vandetbilt University .Graduate Schdol of ManagenitniNashville, Teniressee 37293

University ofVirginiaColgate. Darden Graduate SchoOl of Business A4minstrationP.O. Bot 3,607,Chirlottesvilk, Virsinie 22903

University of VirginraMcIntire School ctf, CommerceCharlottesville, Virginia 22903-

(Thomas 1.. Wheelen),

Viiiginia'Commonwealth Universi ySchool of Business.Richmond, 'Virginia 23284

(Ray AyiTs)

[Wake Forbest Itiv'ersityB'ibcock Graduate,School of ManagementWinston-Salem, North Carolina 27109

(jack D. Ft4ner)

iNk

Washburn University of TopekaSchool of BusinessTopeka, Kansas 66621

University of Washinzton,School of Business AdministrationGraduate School of Business AdministrationSettle, Washington, 98195'

(Kart.H. Vesper)

Washington State UniversityCollege of Econspmics and\BusinessPullman, Washington 99163

Wayne State College la

Department of BusinessWayne, Nebraska 68787

(Bruce E. DeSpelder)

Wayne:State UniversitySchool of Business Administration'Detroit, Michigan 48202

University of West,FloridaFacuhysof Managenient and MBA'' ) b.

sPensaeo1a,s,14Orida 325642w

West Georgia .Cottege. School of BusinesS

carrolltom Georgia 3O1U7.

cVestAte)c,as State UniversitySchool or Biisiness. ,Canyon,. Texas .79016.

Western:Cartilina University., -School of Business

Cullowhe,e, North Carolina 28723(Leland. ft,. Waters', Jr.)

, . WeStern; Michigan 4.1aiversityCollege.of Business :

,fKalamazoo, Mk 49001

,

Western Washin on State College%Department of Economicg and BusinessBe11inghant, Washington 98225

Wkhita State UniversityCollege of Business Administr ionWicinta, Kansas,67208,' (Susan Osborne)

College of William and Mary.School of Business AdministrationWilliamsburg, Virginia 23185

University of Wisconsin-ExtensionMilwaukee, Wisconsin 53203

it (Robert R. Davidson)

University of Wisconsin-MadisonSchool of BusinessGraduate School of BusinessMadison, Wisconsin 53706

University of Wisconsin-MilwaukeeSchool of"Business AdministrationMilwaukee, Wisconsin 53201

(J. Robert Moore)Uohn L. Komives)

University of Wisconsin-WhitewaterCollege ot Business and Economics,Whitewaten, Wisconsin 53190

Woodbury UniveisityLos Angeles, California 90017

Worcester Polytechnic InstituteDepartment of Mangement EngineeringWorcester, Massachusetts 01609

(I. R. Mancuso)

Wright State UniversityCollege of Business and AdministrationDayton, Ohio 45431

(P.S. Carusone)

University of WyomingCollege of Commerce and IndustryLaramie, WYoming 82070

(Edmond Escolas et al)

York UniversityFaculty of Administrative Studies.Toronto, Ontario, Canada

(R. Peterson)

Youngstown State:UniversitySchool of Business AdministrationYoungstown, Qhio 44555

(William E. Walsh)

11 S T1OVE ANNE NT PAIN TING OT FI l? Y 0 204 125

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