BUS 102 - Introduction to Business

1. Critique the business environment
   1. Explain the difference between a for-profit and non-profit organization
   2. Examine the effect various environments play in business operations
   3. Summarize the factors of production
   4. Define and identify business stakeholders in various business organizations
   5. Categorize the stages involved in the evolution of business in the United States
2. Evaluate economics and how it affects business operations
   1. Summarize the business cycle
   2. Compare and contrast capitalism, socialism, communism, and mixed economies
   3. Explain the difference between fiscal and monetary policy
   4. Analyze the role of money, financial institutions in the US and internationally, and the Federal Reserve Board’s importance to business
   5. Discuss key economic indicators and their relevance to businesses, the government, and society
3. Assess how international trade affects business in the United States
   1. Debate the advantages and disadvantages of global trade
   2. Identify barriers to global trade.
   3. Distinguish between comparative and absolute advantage
   4. Compare and contrast strategies used to enter global markets
4. Appraise how businesses demonstrate ethical practices & social responsibility
   1. Distinguish between law and ethics
   2. Compare compliance-based and integrity-based ethics codes
   3. Summarize corporate social responsibility and its importance to the business environment
   4. Evaluate management’s role in setting ethical standards in an organization
5. Compare and contrast various forms of business ownership
   1. Explain the advantages and disadvantages of sole proprietorships, partnerships, and corporations
   2. Summarize options for business ownership and expansion through franchising, mergers, and acquisitions
   3. Examine various forms of business capital available to start or expand a business
   4. Compare and contrast short-term and long-term financing options available for an organization
6. Determine what is required to start, manage, and operate a small business
   1. Evaluate the advantages and disadvantages of being an entrepreneur
   2. Identify the key role and functions of small businesses in the United States
   3. Explain the role the Small Business Administration can play in helping a small business succeed
   4. Summarize the importance of and basic elements involved in developing a business plan 
7. Evaluate key characteristics of management and leadership
   1. Distinguish between management and leadership
   2. Examine the four functions of management (planning, organizing, leading and controlling)
   3. Compare different leadership styles and their effect on employees within an organization
8. Interpret basic principles of organizational management
   1. Explain centralized and decentralized authority
   2. Compare and contrast organizational structures used within businesses.
   3. Identify changes in organizational structure and/or design over time
9. Assess the development and application of production and operations management
   1. Explain major production methods
   2. Summarize strategic decisions made in the production process
   3. Analyze the main categories of production processes
   4. Evaluate the use of quality control mechanisms in organizations
10. Evaluate the role of human resources in an organization
    1. Identify employee recruitment, selection, and training processes commonly used in organizations today
    2. Analyze strategies used to motivate employees within an organization
    3. Interpret laws related to human resources that affect organizations and employees
    4. Evaluate the use of performance appraisals
11. Distinguish how the function of marketing affects a business
    1. Examine the role and importance of marketing in an organization
    2. Analyze how a business utilizes the marketing mix to sell a product or service.
    3. Explain the product life cycle and strategies used at various stages to increase sales and/or profits
12. Assess the importance of understanding accounting and financial information for a business professional.
    1. Explain the steps in the accounting cycle
    2. Identify the differences between a balance sheet, income statement, and statement of cash flows
    3. Interpret the types of financial ratios used to analyze financial data within an organization
    4. Categorize accounting disciplines such as finance, managerial, auditing, tax, and nonprofit accounting
13. Analyze the use of technology within organizations
    1. Explain how information technology has transformed business and managerial decision-making
    2. Identify operational and technological risks that affect business success
    3. Examine the personal and professional impact technology has on an individual’s career as well as the organization
14. Determine the source and use of funds in securities markets for financing and investing
    1. Identify various forms of securities
    2. Discover how securities are exchanged