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The Finances Surrounding Starting, Operating and Exiting a Small Business - A Pedagogical Case Study
Last modified: 2018-07-11
Abstract
A case study is developed to provide students with a realistic situation to advance and exercise critical thinking and analytical skills while addressing issues that any small business entrepreneur should consider when starting, operating, or exiting their venture. The case also serves to increase student’s awareness, understanding, and execution of basic to intermediate skills in Microsoft® Excel® which serves as the template for student solutions. This instructional case provides students with an experiential learning tool to develop a more robust understanding of small business finance. The instructor-developed case study is used in an undergraduate Small Business Finance course to assess the impact of a case study on student learning outcomes (SLOs).
This case involves Bill and Fiona Russell, a married couple and aspiring entrepreneurs. He currently works as a Sales Manager for a local payroll and benefits firm while she is an elementary school teacher. Together they have always had a passion for home -brewing on a small scale mainly sharing their unique creations with friends and family while also winning some local beer making competitions. Over the years Bill and Fiona have always been encouraged by those that have tasted their beer to open a small brewery but until now have brushed it off as unrealistic. Recently, some changes at Bill’s employer have led him to research the potential to open a small brewery and restaurant to pursue their joint passion while also replacing his current salary and providing a better lifestyle. Through an attorney, Bill and Fiona have organized Rusty Bucket Brewing Co. LLC. While still in the development stage, they are dedicated to seeing this venture through and have hired you, a financial consultant, to assist in helping them with all financial aspects relating to their small business.
The researchers plan to discuss the development, pedagogical methods introduced, and measurement of SLOs before and after implementation of the case study.
Note: This is a fictitious instructional case.
This case involves Bill and Fiona Russell, a married couple and aspiring entrepreneurs. He currently works as a Sales Manager for a local payroll and benefits firm while she is an elementary school teacher. Together they have always had a passion for home -brewing on a small scale mainly sharing their unique creations with friends and family while also winning some local beer making competitions. Over the years Bill and Fiona have always been encouraged by those that have tasted their beer to open a small brewery but until now have brushed it off as unrealistic. Recently, some changes at Bill’s employer have led him to research the potential to open a small brewery and restaurant to pursue their joint passion while also replacing his current salary and providing a better lifestyle. Through an attorney, Bill and Fiona have organized Rusty Bucket Brewing Co. LLC. While still in the development stage, they are dedicated to seeing this venture through and have hired you, a financial consultant, to assist in helping them with all financial aspects relating to their small business.
The researchers plan to discuss the development, pedagogical methods introduced, and measurement of SLOs before and after implementation of the case study.
Note: This is a fictitious instructional case.
Keywords
finance; small business; entrepreneur