BUSN 135 - Introduction to Business
3 Credit: (3 lecture, 0 lab, 0 clinical) 3 Contact Hours:
This course provides an overview of American free enterprise and its functions and the role of business as an institution in society from historical and contemporary perspectives. Topics include business organization, management, marketing, finance, legal and regulatory environment and global opportunities.
OFFERED: fall and spring semesters
Course Goals/ Objectives/ Competencies:
Goal 1: Evaluate the environment in which businesses operate.
- Explain the factors of production used by business.
- Compare differing economic systems.
- Explain the law of supply and demand.
- Explain the Federal Reserve’s role in controlling the U.S. economy.
Goal 2: Compare the major legal considerations of starting and owning a business.
- Explain the business ownership options (proprietorship, partnership, LLC, and corporation).
- Compare franchising and licensing.
- Explain the required elements of contract law.
- Explain the relationship between business and regulatory administrative agencies.
- Explore the impact of tort law on business.
- Explain the concept of agency.
- Compare real property, personal property, and intellectual property.
Goal 3: Summarize the ethical considerations of conducting business.
- Explain the relationship between social responsibility and business.
- Explain the concept of business ethics.
- Analyze ethical issues faced by businesses.
- Formulate a strategy for improving ethical behavior in business.
Goal 4: Evaluate problems faced by entrepreneurs who start small businesses.
- Explain the concept of entrepreneurship.
- Distinguish between a small business and a large business.
- Explain the impact that small businesses have on the U.S. economy.
- Compare the advantages and disadvantages of operating a small business.
- Discuss the reasons many small businesses fail.
- Explain the purpose of a business plan.
Goal 5: Analyze the role of management within an organization.
- Explain the functions of management (planning, organizing, staffing, directing, and controlling).
- Compare the responsibilities of different levels of management.
- Compare the basic skills that all managers should possess (leadership, technical expertise, conceptual skills, analytical skills and human relations skills).
- Demonstrate the decision-making process.
- Demonstrate basic communication skills.
- Compare popular motivational theories.
- Evaluate the role of teams in the business environment.
- Explain the basic process of hiring new employees.
- Explain the importance of employee development.
Goal 6: Summarize the role marketing plays in an organization.
- Explain the components of the marketing mix (product, price, place, and promotion).
- Compare internal and external marketing research.
- Explain the marketing research process.
Goal 7: Evaluate how international forces are affecting the business community.
- Compare the pros and cons of globalization.
- Compare social and cultural barriers faced by international businesses.
- Explain how barriers to trade impact international businesses.
- Evaluate the impact trade agreements have on international businesses.
Goal 8: Compare the basic financial components of business.
- Differentiate between assets, liabilities, and equity.
- Explain the function of a balance sheet.
- Explain the function of an income statement.
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