Course Description
The student will discuss the nature of our business environment in the United States. The student will indicate the advantages and disadvantages of the common forms of business organization and also will discuss and analyze problems related to finance, the operation of a business, marketing, management, personnel, and labor relations in a contemporary situation.
Topical Outline
- Developing a Business Mindset
- Understanding Basic Economics
- The Global Marketplace
- Business Ethics and Corporate Social Responsibility
- Forms of Ownership
- Entrepreneurship and Small-Business Ownership
- Management Roles, Functions, and Skills
- Organization and Teamwork
- Production Systems
- Employee Motivation
- Human Resources Management
- Labor Relations
- The Art and Science of Marketing
- Product and Pricing Strategies
- Customer Communication
- Financial Information and Accounting Concepts
At the end of this course, students will be able to:
- Explain what a business is and how it operates within the private enterprise system.
- Compare the basic forms of business ownership
- Relate the basic differences between large and small businesses.
- Explain the importance of planning and specific objectives.
- Understand basic human relations and use that knowledge in managing human resources
- Explain the various roles that pricing, promotion, and distribution play in determining a marketing mix for a product or service
- Identify the basic accounting statements and theories and how they relate to a business operation
- Differentiate between various financial institutions and how each may be used to fund or support businesses
- Explain how long-term and short-term financial instruments such as loans, stocks, and bonds can be used and the advantages of each