Introduction to Business

Introduction to Business discusses concepts, principles, and operations of the private enterprise system. Gain knowledge of bookkeeping, accounting, financial management, and other concepts.

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Introduction to Business

$79

Plus membership

3 Credits

All courses include:

eTextbooks

2 to 3-day turnaround for grading

Multiple chances to improve your grade

On-demand tutoring & writing center

Student support 7 days a week

$79

Plus membership

3 Credits

All courses include:

eTextbooks

2 to 3-day turnaround for grading

Multiple chances to improve your grade

On-demand tutoring & writing center

Student support 7 days a week

Introduction to Business

$79

Plus membership

3 Credits

About This Course

|
ACE Approved 2024

This course will help students become familiar with general business environments, including sub-disciplines of management, marketing, finance, accounting, and other competencies necessary for long-term success in today's business environment.

What You'll Learn

Evaluate and contrast major economic systems in business throughout the world

Describe the various legal forms of business ownership such as sole proprietorship, partnership and corporation, the nature of each, the processes involved in creating each and the advantages and disadvantages of each.

Identify the functions of modern management in business organizations and how these functions are evolving in response to changes in the external and internal environments in technology, diversity, competition and governmental regulations.

Exhibit an understanding of the marketing function and describe the concepts and processes involved in designing product strategy, promotional strategy, distribution strategy, and pricing strategy

Review how past trends are repeated in the present and what those trends mean for tomorrow's graduates.

Define the type of corporate mergers and explain the role these play in the different business settings today.

Demonstrate the importance of business ethics and social responsibility to the long-term success of businesses and society's well being.

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Course Details

BUS101

|

Introduction to Business

This course is designed to highlight a manager's functions and responsibilities in organizational and business settings. Four main management functions of planning, organizing, leading, and controlling are used as a framework to explore the role of managers. Students will also examine ethical, social, and cross-cultural issues related to managing in contemporary business organizations.

Prerequisites

There are no prerequisites to take Introduction to Business.

Topic Subtopics
Introduction to Business and Economics
  • The Nature of Business
  • Risk and Profit
  • Economics
  • Economic Systems
  • Supply and Demand
International Business
  • Theories of Comparative and Absolute Advantage
  • Importing and Exporting
  • International Business Strategies
  • Forces Affecting Trade
  • Trade Agreements and Organizations
Ethical Business Behavior
  • Social Responsibility
  • Types of Corporate Responsibility
Types of Business Ownership
  • Sole Proprietorship
  • Partnerships
  • Corporations
  • Mergers and Acquisitions
  • Other Forms of Ownership
Small Business
  • Entrepreneurship
  • Starting a Small Business
  • Small Business Difficulties
  • Small Business Resources
Management
  • The Functions and Responsibilities of Management
  • Levels of Management
  • Planning
Business Organizations
  • Centralized and Decentralized Authority
  • Broad and Narrow Span of Control
  • Departmentalization
  • Organizational Structure
Motivating Employees
  • Maslow's Hierarchy of Needs
  • Herzberg's Theory
  • McGregor's Theory X and Theory Y
  • Ouchi's Theory Z
  • Other Motivational Theories
Human Resource Management
  • Planning and Needs Assessment
  • Recruiting and Selecting
  • Training and Developing
  • Appraising and Compensating
  • Turnover and Legal Issues
Marketing
  • Purpose of Marketing
  • Marketing Mix
  • Market Research
  • Marketing Environment
  • Buying Behavior
Pricing Products and Services
  • Product Differentiation
  • Packaging
  • Branding
  • The Product Life Cycle
  • Price and Nonprice Competition
Accounting
  • Accounting Versus Bookkeeping
  • The Uses of Accounting
  • The Accounting Cycle
  • Types of Financial Statements
  • Ratio Analysis of Financial Statements
Financial Management
  • Financial Planning
  • Funding
  • Capital Budgeting
  • Loans
  • Debt and Equity Financing
Financial Institutions and Money
  • The Function of Money
  • Federal Reserve
  • Types of Banking Institutions
  • Nonbanking Institutions
  • Technology in Banking

Your score provides a percentage score and letter grade for each course. A passing percentage is 70% or higher.

Assignments for this course include:

  • 7 Reflective Responses
  • 4 Graded Exams
  • 1 Graded Midterm
  • 1 Graded Final


The required eTextbook for this course is included with your course purchase at no additional cost.


Nickels, William G., James M. McHugh, and Susan M. McHugh. Understanding Business, 13th edition. McGrawHill, 2022. ISBN 9781259929434

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