Introduction to Business

Course Number:

BA 101Z

Transcript Title:

Introduction to Business

Created:

Jul 26, 2022

Updated:

Apr 25, 2024

Total Credits:

4

Lecture Hours:

40

Lecture / Lab Hours:

0

Lab Hours:

0

Satisfies Cultural Literacy requirement:

No

Satisfies General Education requirement:

Yes

Grading Options

A-F, P/NP, Audit

Default Grading Options

A-F

Repeats available for credit:

0

Alignment with Institutional Learning Outcomes

Major

1. Communicate effectively using appropriate reading, writing, listening, and speaking skills. (Communication)

Major

2. Creatively solve problems by using relevant methods of research, personal reflection, reasoning, and evaluation of information. (Critical thinking and Problem-Solving)

Minor

3. Extract, interpret, evaluate, communicate, and apply quantitative information and methods to solve problems, evaluate claims, and support decisions in their academic, professional and private lives. (Quantitative Literacy)

Not Addressed

4. Use an understanding of cultural differences to constructively address issues that arise in the workplace and community. (Cultural Awareness)

Minor

5. Recognize the consequences of human activity upon our social and natural world. (Community and Environmental Responsibility)

To establish an intentional learning environment, Institutional Learning Outcomes (ILOs) require a clear definition of instructional strategies, evidence of recurrent instruction, and employment of several assessment modes.

Major Designation

1. The outcome is addressed recurrently in the curriculum, regularly enough to establish a thorough understanding.
2. Students can demonstrate and are assessed on a thorough understanding of the outcome.
   • The course includes at least one assignment that can be assessed by applying the appropriate CLO rubric.

Minor Designation

1. The outcome is addressed adequately in the curriculum, establishing fundamental understanding.
2. Students can demonstrate and are assessed on a fundamental understanding of the outcome.
   • The course includes at least one assignment that can be assessed by applying the appropriate CLO rubric.

Suggested Outcome Assessment Strategies

The determination of assessment strategies is generally left to the discretion of the instructor. Here are some strategies that you might consider when designing your course: writings (journals, self-reflections, pre writing exercises, essays), quizzes, tests, midterm and final exams, group projects, presentations (in person, videos, etc), self-assessments, experimentations, lab reports, peer critiques, responses (to texts, podcasts, videos, films, etc), student generated questions, Escape Room, interviews, and/or portfolios.

Course Activities and Design

The determination of teaching strategies used in the delivery of outcomes is generally left to the discretion of the instructor. Here are some strategies that you might consider when designing your course: lecture, small group/forum discussion, flipped classroom, dyads, oral presentation, role play, simulation scenarios, group projects, service learning projects, hands-on lab, peer review/workshops, cooperative learning (jigsaw, fishbowl), inquiry based instruction, differentiated instruction (learning centers), graphic organizers, etc.

Course Content

Outcome #1: Explain the role of business in society.

• Business definitions
  • Organization
  • Corporation
  • Entrepreneurship
  • Small business
  • Franchise
• Business environment
  • Internal and external stakeholders
  • Competition (direct and indirect)
  • Legislation
  • Implications of American multi-cultural society
  • Business risk
• Economic Contribution
  • Job Creation
  • Wealth Generation
  • Innovation and Efficiency
• Social Impact
  • Enhancing Quality of Life
  • Social Change
  • Cultural Influence
• Environmental Stewardship
  • Sustainable Practices
  • Environmental Innovation
• Ethical Leadership
  • Setting Standards
  • Advocacy and lobbying
• Community Engagement
  • Local Development
  • Global Connectivity

Outcome #2: Identify the different forms of business.

• Legal structures
  • Sole proprietorship
  • Partnership
  • Corporation
  • Limited Liability Company (LLC)
  • Cooperative (Co-op)
  • Social enterprises and non-profits
  • Mergers & acquisitions
• Market/supply-chain positioning
  • Business-to-Business (B2B)
    • Natural resource extraction (e.g., oil & gas, mining, logging)
    • Manufacturing
    • Wholesaling and Distributing
  • Business-to-Consumer (B2C)

 Outcome #3: Describe the importance of entrepreneurship in the economy.

• New business creation
  • The entrepreneurial mindset
  • Traits, habits, & skills of successful entrepreneurs
  • Reasons for business failure
• Innovation and creativity
  • New solutions to problems
  • Technological advancement
  • Stimulating research and development
• Economic growth and development
  • Job creation
  • Diversifying employment
  • Wealth generation & distribution
• Market competition and efficiency
  • Market dynamics
  • Consumer benefits
• Regional development and social impact
  • Local and regional growth
  • Social innovation
• Global competitiveness
  • Export growth
  • Fostering resilience

 Outcome #4: Explain the main functional areas of business, including accounting, finance, human resources, management and leadership, and marketing.

• Management
  • Planning
  • Organizing
  • Leading & motivating
  • Span of management & delegation
  • Controlling
• Accounting
  • Determining information requirements
  • Functions of an information system
  • Financial statement preparation and analysis
    • Balance Sheet
    • Income Statement
    • Statement of Cash Flows
    • Managerial accounting reports
  • Importance of timely and accurate accounting information
• Financial management
  • Planning process
  • Short- and long-term needs
  • Financing alternatives
    • Short- and long-term debt
    • Equity
  • Capital investments
• Sales and marketing
  • Strategic planning:
    • Target market and segmentation
    • Marketing mix
  • Sales forecasting and marketing plan
  • Product line, product mix, and pricing strategies
  • Branding and public relations
  • Value proposition
  • Consumer buying decision process and influences
  • Customer relationship management
  • Distribution channels
  • Competition
• Human Resources
  • Planning, job analysis, recruiting, selection, hiring, training & development, appraisal & feedback, discipline, and termination
  • Compensation & benefits
  • Cultural diversity
  • Legislation and legal environment
• Information technology in each functional area.

 Outcome #5: Explain the importance of ethics and social responsibility in business contexts.

• Evolution of social responsibility & business ethics
  • Consumer movement
  • Ethical dilemmas and conflicts of interest
  • Decision-making framework:
• Building trust and reputation
  • Corporate culture
  • Enhancing brand image
  • Maintaining reputation
• Stakeholder orientation and relationships
  • Engagement and Collaboration
  • Mutual Benefit
• Compliance and legal considerations
  • Legislation
    • Competition
    • Consumer protection
    • Equity and safety
  • Avoiding legal issues
  • Mitigating legal and reputational risks
  • Anticipating future trends
• Employee satisfaction and retention
  • Attracting and retaining talent
  • Appealing to values-driven individuals
  • Employee engagement and productivity
• Customer loyalty and brand differentiation
  • Enhancing customer loyalty
  • Brand Differentiation
• Long-term sustainability and profitability
  • Creating shared value
  • Importance of profitability
• Social impact and contribution
  • Positive impact on communities
  • Addressing global challenges

 Outcome #6: Describe how economics and globalization impact business decisions and operations.

• Market expansion and competition
  • Global reach
  • Increased competition
• Cost management and efficiency
  • Outsourcing
  • Cost of production
  • Supply chain efficiency and complexity
• Access to capital and investment
  • Global investment
  • Cross-border collaborations
  • Foreign Direct Investment (FDI)
• Regulation and policy adaptation
  • Compliance with multiple regulatory standards
  • Trade agreements and tariffs
• Economic fluctuations and risk management
  • Geopolitical risks
  • Exposure to economic cycles
  • Currency exchange and other financial risk
• Social and cultural considerations
  • Consumer preferences
  • Cultural sensitivity and adaptation
  • Corporate Social Responsibility (CSR)
• Innovation and technology adoption
  • Intellectual property protection
  • Leveraging technology for global operations

Suggested Texts and Materials

Text: Foundations of Business, 6th Ed; Pride, Hughes, Kapoor; Cengage Learning

Department Notes

Introduction to Business is designed to expose the interested student to many functions of modern business. The course shows the student how these functions exist in a changing society and the type of decisions which must be made within that environment. The course is also designed to expose the student to the multitude of career fields in the areas of business. The importance of business in the modern society is also stressed throughout the course.