Operating and Financial Foundations

This unit develops the operational, financial, and human resource foundations needed to start and manage a small business. Students learn to use technology and outsourcing, create budgets and financial records, address legal and tax obligations, and make informed decisions about pricing, capital, staffing, and benefits — preparing them to scale and refine their business plan in subsequent units.

Learning Objectives

• Analyze financial statements and budgets to identify cash flow, profitability, and tax implications and recommend corrective actions
• Apply accounting, pricing, and recordkeeping practices (including simplified systems) to support tax compliance, purchase allocation, and capital decisions
• Evaluate human resource options — hiring, compensation, benefits, training, legal compliance, and whether to share equity or consider franchising — and develop an HR plan that aligns with business goals
• Design an operations strategy that leverages outsourcing, technology (including AI), networks, advisors, and insurance to improve product/service development, customer service, and regulatory compliance