Jun 26, 2019  
2018-2019 Course Catalog 
    
2018-2019 Course Catalog [ARCHIVED CATALOG]

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BUS 102 - Introduction to Business

Credits: 3
Lecture Hours: 3
Lab Hours: 0
Practicum Hours: 0
Work Experience: 0
Course Type: General
An overview of the ever-changing world of business. Provides information in the areas of ownership, management, marketing, insurance, economic systems and finance, as well as the role of government.
Competencies
  1. Develop an awareness and appreciation of the overall business environment.
    1. Distinguish between a business and a nonprofit organization.
    2. Explain how risk affects the amount of profit a business can make.
    3. Explain the difference between standard of living and quality of life.
    4. Identify the stakeholders of a business.
    5. Explain the term entrepreneurship.
    6. Explain how a government’s tax policy affects business.
    7. Summarize how changes in technology changed the way business is done.
  2. Develop an awareness of how economics and economic systems affect business.
    1. Explain the major differences between capitalism, socialism and communism.
    2. Define a mixed economy.
    3. Explain key economic indicators in our United States economy.
    4. Explain a business cycle.
    5. Explain the difference between fiscal policy and monetary policy.
  3. Develop an awareness and appreciation of how international trade affects business.
    1. Explain why the global market important today to business persons.
    2. Distinguish the terms comparative advantage and absolute advantage in global trade.
    3. Explain what is meant by importing and exporting and why each important to our economy.
    4. Explain various strategies used in reaching global markets.
    5. Explain the advantages and disadvantages of trade protectionism.
    6. Explain how the internet changed the way businesses engage in international business today.
    7. Define outsourcing.
  4. Develop an awareness and appreciation of social responsibility and ethics as applied in business.
    1. Compare the difference between law and ethics.
    2. Explain management?s role in setting ethical standards.
    3. Explain the difference between compliance-based and integrity-based ethics codes.
    4. Explain how a business encourage employees to act ethically.
    5. Explain what is meant by corporate social responsibility.
    6. Explain the role of American business in encouraging ethical behavior and social responsibility while engaged in international business.
  5. Develop an awareness and appreciation of various forms of business ownership.
    1. Explain various ways a business can be organized, including but not limited to sole proprietorships, partnerships, corporations, limited liability companies and cooperatives.
    2. Explain the similarities and differences among various business organizational structures.
    3. Explain the advantages and disadvantages among various business organizational structures.
    4. Explain different types of corporate mergers.
    5. Explain the advantages and disadvantages of franchises.
  6. Develop an awareness and appreciation of the importance of entrepreneurship and small business in our economy.
    1. Explain the risks of entrepreneurship.
    2. Explain the primary differences between a person who wishes to be an entrepreneur and someone who is comfortable being an employee.
    3. Define how the Small Business Administration, defines a small business.
    4. Explain the primary reasons a small business will fail.
    5. Explain some proven successful strategies for a person who wishes to start a small business.
    6. Explain the advantages and disadvantages a small business has relative to international business.
  7. Develop an awareness and appreciation of management, leadership and employee empowerment.
    1. Explain kinds of changes are occurring in business and our society that affect management.
    2. Explain the four traditional functions of management.
    3. Explain how planning and decision making help a business to accomplish its goals.
    4. Explain the differences between leading, planning, organizing and controlling.
    5. Explain the difference between leading and managing.
    6. Explain some different types of leadership styles.
  8. Develop an awareness and appreciation of different ways a business can organize its employees and operations.
    1. Explain different ways groups of employees can be organized.
    2. Explain what Fayol and Weber believed was important in employee organization.
    3. Explain how change in our business world and society affected the way businesses organize employees.
    4. Explain the difference between centralized versus decentralized authority.
    5. Explain span of control.
    6. Explain the difference between a tall versus a flat organization.
    7. Explain various ways to departmentalize a business.
    8. Explain how the informal organization impacts a business.
  9. Develop an awareness and appreciation of the importance of building good customer relationships.
    1. Explain what is marketing and how businesses and nonprofit organization use marketing.
    2. Explain the marketing mix and how a business uses the marketing mix to sell a product or service.
    3. Explain the various components in the marketing research process.
    4. Explain what is meant by environmental scanning.
    5. Explain the marketing environment and how it affects the marketing of a product or service.
    6. Explain how marketers meet the needs of the consumer market through market segmentation, relationship marketing, and the study of consumer behavior.
    7. Explain how the business-to-business market differs from the consumer market in terms of overall marketing applications.
  10. Develop an awareness and appreciation of developing and pricing goods and services.
    1. Define the total product offer with respect to a good or service.
    2. Explain the difference between a product line and a product mix.
    3. Explain the major purposes of packaging of goods.
    4. Explain the differences among a brand, a brand name, and a trademark.
    5. Explain the concepts of brand equity and brand loyalty.
    6. Define the steps involved in developing a new product.
    7. Define the product life cycle and explain how marketing strategies change at different stages.
    8. Explain various pricing objectives and strategies used in business.
    9. Explain non-price strategy and how are they effectively used in business.
  11. Develop an awareness and appreciation of how different promotional techniques are used in business.
    1. Define promotion.
    2. Explain the promotion mix and how is it used in business.
    3. Define advertising and what are advantages and disadvantages of various advertising media.
    4. Define the business to business selling approach and explain how it is different from the business to consumer selling approach.
    5. Explain the purpose of a public relations department.
    6. Explain how publicity differ from advertising.
    7. Explain how sales promotion techniques used in business.
  12. Develop an awareness and appreciation of how financial information and accounting procedures are used in a business.
    1. Explain why is it important for a business person to understand financial information and accounting principles.
    2. Explain the difference between bookkeeping and accounting.
    3. Define the basic accounting equation and explain what it means.
    4. Explain how managerial accounting differs from financial accounting.
    5. Define the basic steps in the accounting cycle.
    6. Explain the difference between a balance sheet, an income statement and a statement of cash flows.
    7. Define the traditional ratios used to analyze financial data and explain what each ratio.
  13. Develop an awareness and appreciation of the role of financial management in a business.
    1. Explain why finance and financial management important to business.
    2. Define the primary responsibilities of financial managers.
    3. Explain (1) undercapitalization, (2) poor control over cash flow and (3) inadequate expense control.
    4. Explain why businesses need operating funds and identify various types of financing that can be used to obtain those funds.
    5. Define different sources of short-term and long-term financing.
  14. Develop an awareness and appreciation of the role of money, financial institutions and the Federal Reserve Board to business.
    1. Define money and explain how its value is determined.
    2. Explain what the Federal Reserve is and how it controls the money supply.
    3. Explain how the banking industry and the Federal Reserve evolved over the years.
    4. Explain the importance of the Federal Deposit Insurance Corporation and other organizations that guarantee bank funds.
    5. Explain the future of the U.S. banking system.
    6. Explain the role of international banking in business today.
    7. Explain how changes to the banking system have affected the way business is done today.
  15. Develop an understanding of business analysis using information technology and business simulation software, or any other simulation, for effective behavioral characteristics, business and software knowledge, communication, interaction skills, and working collaboratively to enable learners to apply principles to work in a business environment.
    1. Define business analysis
    2. Recognize the fundamental responsibilities of the business analyst
    3. Identify business analysis tasks
    4. Identify business analysis techniques
    5. Match the business analysis competency requirement to the example
    6. Recognize the behavioral characteristics required for effective business analysis
    7. Recognize the business knowledge required for effective business analysis
    8. Recognize the software knowledge skills required for effective business analysis
    9. Recognize the communication skills required for effective business analysis
    10. Recognize the interaction skills required for effective business analysis
    11. Apply the skills and competencies required for effective business analysis in a given scenario using Microsoft Office Word, Excel, Access and Power Point.
  16. Develop ability to work together in teams and analyze business life-cycle projects using Microsoft Office Suites (Word, Excel, Access, Power Point).
    1. Develop a business through a simulation in class or simulation software with a group/team of students.
    2. Work in teams throughout the semester on this simulated business making business decisions and analyzing the results of those decisions.
    3. Create a Power Point presentation that includes aspects of the business that are included throughout the course.
    4. Present the business to the class as a group/team by way of the Power Point presentation explaining some of the business decisions and the results of those decisions.
    5. Excel data analysis to determine different values/scenarios for formulas.
    6. Data base management with Access with exposure to creating tables, queries, forms and reports.



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