BU-101 Introduction to Business

Course Description:

Establishes a foundation for the understanding of contemporary business functional areas of business: management and organization, human resources, marketing,financing,accounting, and information systems. Business ethics and social responsibility,the global business environment and basic FSM business laws/regulations are also covered.

A.   PROGRAM LEARNING OUTCOMES (PLOs):

The student will be able to:

1.      Demonstrate basic knowledge of each of the functional areas of business-accounting, management, marketing, economics, and finance- by emphasizing their importance in an organization and describing their interrelationships in the organization’s attempt to achieve its objectives.

2.      Demonstrate basic knowledge and skill in the use of cost and managerial concepts and techniques as management tools for planning, controlling, evaluating performance and making decisions.

3.      Demonstrate basic knowledge and skill in business mathematics and elementary statistics by accurately performing common business computations, statistical data presentation and analysis.

4.      Demonstrate basic knowledge and skills in    intercultural writing and speaking appropriate for business.

5.      Demonstrate a basic understanding of the legal environment and ethical challenges confronting business in general and in the FSM, from both local and global perspectives.

 

B.     STUDENT LEARNING OUTCOMES (SLOs):   GENERAL

The student will be able to:

1.   Explain the development of ethical standards in an organization and being able to judge the responsibility of a business to the general public, customers and     employees.

2.   Identify domestic and global economic factors affecting the business climate and explain the importance of global commerce and the challenges of entering global markets.

3.   Differentiate between the forms of business ownership and the advantages and disadvantages of each.

4.   Evaluate reasons for becoming an entrepreneur and the preparation and traits leading to success.

5.   Distinguish between different levels of management in the organizational structure and their functions and being able to examine the strategic planning process.

6.   Identify the responsibilities of human resource managers in hiring, separation, compensation, benefits, training, motivation and labor negotiation.

7.   Interpret the steps and the factors to consider in the development of a successful business and marketing plans.

8.   Compare the stages of the product life cycle and the marketing activities of each stage and describe how components of a promotional mix could be used to meet promotional objectives.

9.   Discuss how financial managers locate sources for short and long term funds and allocating those funds.

SLO

PLO 1

PLO 2

PLO 3

PLO 4

PLO 5

1

I

 

 

I

 

2

I

 

 

I

 

3

I

 

 

I

 

4

I

 

 

I

 

5

I

 

 

I

 

6

I

 

 

I

 

7

I

 

 

I

 

8

I

 

 

I

 

9

I

 

 

I

 

I = Introduced

D = Demonstrated

M = Mastered

 

C.  STUDENT LEARNING OUTCOMES (SLOs):  SPECIFIC

The student will be able to:

General SLO 1.Explain the development of ethical standards in an organization and being able to judge the responsibility of a business to the general public, customers and     employees.

Student Learning Outcomes

Assessment Strategies

1.1     Explain concepts of business ethics and social responsibility and describe factors influencing them.

Homework and/or class quizzes and/or exams.

1.2     Identify common ethical dilemmas in the workplace.

Homework and/or class quizzes and/or exams.

1.3     Discuss how organizations shape ethical behavior.

Homework and/or class quizzes and/or exams.

1.4      Summarize business social responsibilities to the general public, customers and employees.

Homework and/or class quizzes and/or exams.

1.5     Explain why investors and the financial community are concerned with business ethics and social responsibility.

Homework and/or class quizzes and/or exams.

 

General SLO 2. Identify domestic and global economic factors affecting the business climate and explain the importance of global commerce and the challenges of entering global markets

Student Learning Outcomes

Assessment Strategies

2.1      Explain the factors that drive demand and supply.

Homework and/or class quizzes and/or exams.

2.2     Describe the different market structures and economic systems.

Homework and/or class quizzes and/or exams.

2.3     Explain how productivity, price level, and employment levels affect the stability of a nation’s economy.

Homework and/or class quizzes and/or exams.

2.4     Describe major global economic challenges of the 21st century.

Homework and/or class quizzes and/or exams.

2.5     Explain the importance of international business and the primary reasons nations trade.

Homework and/or class quizzes and/or exams.

2.6     Describe how nations measure international trade and the significance of exchange rates.

Homework and/or class quizzes and/or exams.

2.7     Identify the major barriers that confront global businesses and how they can be reduced.

Homework and/or class quizzes and/or exams

2.8     Compare different levels of involvement used by business when entering global markets.

General SLO 3. Differentiate between the forms of business ownership and the advantages and disadvantages of each.

Student Learning Outcomes

Assessment Strategies

3.1      Summarize the three basic forms of business ownership and the advantages and disadvantages of each form.

Homework and/or class quizzes and/or exams.

3.2     Differentiate among private ownership, public ownership and collective ownership.

Homework and/or class quizzes and/or exams.

General SLO 4. Evaluate reasons for becoming an entrepreneur and the preparation and traits leading to success.

Student Learning Outcomes

Assessment Strategies

4.1     Explain why people choose to become entrepreneurs.

Homework and/or class quizzes and/or exams.

4.2     Discuss factors that support and expand opportunities for entrepreneurs.

Homework and/or class quizzes and/or exams.

4.3     Identify personality traits that typically characterize successful entrepreneurs.

General SLO 5. Distinguish between different levels of management in the organizational structure and their functions and being able to examine the strategic planning process.

Student Learning Outcomes

Assessment Strategies

5.1     Define management and the necessary management skills.

Homework and/or class quizzes and/or exams.

5.2     Describe the strategic planning and decision making process.

5.3     Define leadership and compare the different leadership styles.

General SLO 6. Identify the responsibilities of human resource managers in hiring separation, compensation, benefits,training, motivation and labor negotiation.

Student Learning Outcomes

Assessment Strategies

6.1     Describe the recruitment and selection process.

Homework and/or class quizzes and/or exams.

6.2     Explain how training programs and performance appraisal supports growth and development of employees.

Homework and/or class quizzes and/or exams.

6.3     Outline methods of compensation to employees  (employees).

6.4     Explain employee motivation through Maslow’s hierarchy of needs.

6.5     Summarize the role of labor unions and the tactics of labor-management conflicts.

General SLO 7. Interpret the steps and the factors to consider in the development of a successful business and marketing plans.

Student Learning Outcomes

Assessment Strategies

7.1      Discuss the importance of business plan and explain the steps involved and the major elements it should contain.

Homework and/or class quizzes and/or exams.

7.2      Discuss the importance of marketing plan and explain the steps involved and the major elements it should contain.

Homework and/or class quizzes and/or exams.

General SLO 8. Compare the stages of the product life cycle and the marketing activities of each stage and describe how components of a promotional mix could be used to meet promotional objectives.

Student Learning Outcomes

Assessment Strategies

8.1 Describe the four stages of the product life cycle;

Homework and/or class quizzes and/or exams.

8.2  Identify and explain the marketing strategies; and

8.3 Explain the concept of promotional mix and objectives of promotion.

Homework and/or class quizzes and/or exams.

General SLO 9. Discuss how financial managers locate sources for short and long term funds and allocating those funds.

Student Learning Outcomes

Assessment Strategies

9.1 Compare the two major sources of funds for a business and explain the concept of leverage;

Homework and/or class quizzes and/or exams.

9.2 Identify sources of short-term financing ; and

9.3 Discuss long-term financing options.

Homework and/or class quizzes and/or exams.

D.  COURSE CONTENT

1. Business in a Global Environment

      2. Starting and Growing your Business

      3. Management: Empowering People to Achieve Business Objectives

      4. Marketing management

      5. Managing Technology and Information

      6. Managing Financial Resources

E.  METHODS OF INSTRUCTION

Lectures, guest speakers, research project, business plan, case analysis, homework, classroom exercises, and various individual and group assignments. Power-point, LCD projections and videos will be used as instructional aid and other teaching materials depending on availability.

F.  REQURIED TEXT(S) AND COURSE MATERIALS

     Boone, Louis E. and David L. Kurtz. Contemporary business.  13th ed.  Mason, OH :

     Thomson/South- Western, c2009 (or most recent edition).

E.  REFERENCE MATERIALS

None

H.  INSTRUCTIONAL COSTS

None

I.   EVALUATION

      None

J.   CREDIT BY EXAMINATION

None

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