AGRI 255 Entrepreneurship in Agriculture

This course serves serves to review and strengthen student’s knowledge-base in principles of accounting, economics, management, and marketing, and introduces new material particularly as it relates to developing the skills and knowledge needed to analyze and explore business opportunities and establish a business venture. The course will incorporate real-world case-studies and examples into assignments and projects.

Credits

3 Credits

Semester Contact Hours Lecture

45

AGRI 255Entrepreneurship in Agriculture

Please note: This is not a course syllabus. A course syllabus is unique to a particular section of a course by instructor. This curriculum guide provides general information about a course.

I. General Information

Department

Agriculture

II. Course Specification

Course Type

Program Requirement

Credit Hours Narrative

3 Credits

Semester Contact Hours Lecture

45

Repeatable

N

III. Catalog Course Description

This course serves serves to review and strengthen student’s knowledge-base in principles of accounting, economics, management, and marketing, and introduces new material particularly as it relates to developing the skills and knowledge needed to analyze and explore business opportunities and establish a business venture. The course will incorporate real-world case-studies and examples into assignments and projects.

IV. Student Learning Outcomes

Upon completion of this course, a student will be able to:

• Illustrate key steps and typical challenges involved in the development of a new business and identify traits of successful business owners.
• Discuss the business planning process and development of business goals and objectives.
• Show the ability to write an in-depth business plan for a proposed or existing business.
• Construct a marketing plan proposal for the U-Pick Garden at the Breckenridge Endowment Farm.
• List and describe different sources of funding available to entrepreneurs and the avenues for obtaining capital.
• Identify different legal business structures and compare and contrast advantages and disadvantages to each type.
• Develop a proposal for a business that illustrates how a business can be implemented and grown on a part-time basis.
• Demonstrate the ability to use basic accounting methods to analyze existing and proposed business enterprises .
• Describe the basic process for calculating payroll calculations and deductions and identifying the true cost of employment.
• Discuss how regulations, taxes, and licenses impact small business.
• Discuss the role of insurance in a small business, and identify and understand risk, and effective risk-management strategies.

V. Topical Outline (Course Content)

Examining the Entrepreneurial Spirit Identifying Skills and Traits of the Successful Entrepreneur Pros and Cons to Business Ownership Strategies for Starting a Business The Mission Statement Writing a Mission Statement Setting Goals and Objectives Product and Industry Research, Market Analysis, and Consumer Trends When, Why, How, and Where to do Market Research Identifying Resources and Strategies for Product Research and Development Business Models Common Types of Successful Business Models Selecting a Business Model Business Planning Developing an Informal Business Plan SWOT Analysis Construction of a Formal Business Plan Marketing The 5 P’s of Marketing Direct Marketing Options Business Structures Legal Structures for Your Business – Pros and Cons Sources of Capital Funding Sources/Loan Application Process Grants, Business Partners, and other Funding Options Don’t Quit Your Day Job Strategies for Building and Growing a Part-Time Business Record Keeping and Budgeting Balance Sheet, Income Statement, Budgeting Don’t Sweat the Small Stuff Regulations, Taxes, Licenses and Payroll Insurance and Risk Management Strategies

VI. Delivery Methodologies