Introduction to Business

COURSE DESCRIPTION:

This course is an introduction to the functional areas of business. Topics include business organization, environment, human resources, marketing, accounting, finance, and international concerns. This course is designed to give the students a general overview of the business world today. The main objectives of this course are to identify and understand basic business terminology across a variety of business topics, to examine how business operates in the social, political, and economic climates, to identify common business practices and problems, to explore career opportunities in business, and to recognize the elements/characteristics of free enterprises. Upon completion of the course, the students will have both theory based knowledge and application skills regarding the overall business world.

PREREQUISITE (IF ANY):

N/A

COURSE POLICY:

It is the student’s responsibility to gather information about the assignments and covered topics during the lectures missed. Regular class attendance is mandatory. Points will be taken off for missing classes. Without 70% of attendance, sitting for final exam is NOT allowed. According to IUB system students must enter the classroom within the first 20 minutes to get the attendance submitted.
The date and syllabus of quiz, midterm and final exam is already given here, however, announcements will be given ahead of time. There is NO provision for make-up quizzes.
The reading materials for each class will be given prior to that class so that student may have a cursory look into the materials.
Class participation is vital for better understanding of sociological issues. Students are invited to raise questions.
Students should take tutorials with the instructor during the office hours. Prior appointment is required.
Students must maintain the IUB code of conduct and ethical guidelines offered by the School of Business.
Students must refrain from any type of cheating and/or plagiarism in a course. Any student acting otherwise will receive an “F” grade in the course. School of Business, IUB, maintains a zero tolerance policy regarding violation of academic integrity.

Students are not allowed to keep bags, handouts, books, mobile phones, smart watches or any other smart electronic devices with them during any exam. Students are advised to keep everything in the front of the class room before the exam starts. Please note that, just carrying any smart electronic devises (even if the devise is turned off or put it in silent mode) during the exam will be considered as “cheating”. Moreover, during the exam, anything written on hand palms (or anywhere else) and carrying paper materials (whatever is written) will be considered as “cheating”. Any sorts of “cheating” will result in an “F” grade with no exception. During the exam, students are only allowed to carry pen, pencil, eraser, sharpener, ruler, highlighter and calculator in a clear plastic bag.

ASSESSMENT AND MARKS DISTRIBUTION:

Type of Evaluation	Nos.	Weight
*Class Attendance and Participation*	100%	5
Quiz (Average of two will be counted)	2	20
Project and Presentation	01	20
Midterm Exam	01	25
Final Exam	01	30
Total		100%

GRADE CONVERSION SCHEME:

The following chart will be followed for grading. This has customized form the guideline provided by the school of Business.

A	A-	B+	B	B-	C+	C	C-	D+	D	F
90-100	85-89	80-84	75-79	70-74	65-69	60-64	55-59	50-54	45-49	0-44

* Numbers are inclusive

REQUIRED TEXT:

Nickels, McHugh and McHugh, Understanding Business, 9^th Edition, McGraw Hill/Irwin.

Link to virtual learning system: http://103.254.86.4/sb/course/index.php?categoryid=25

(School of Business – Faculty name- Login as a guest- password is 1234).

MORE READINGS:

Steven J. Skinner and John M. Ivancevich, “Business for the 21^st Century“, Irwin
Additional reading materials, cases and case study questions will be provided before the related sessions.

CLASS AND EXAM SCHEDULE, TOPIC AND READINGS:

Sessions	Topic	Learning Outcomes	Readings
Session -1	Introduction to Business Issues Issues related to the Course Outline	Understanding the relationship between profit and risk and the relevance of business and non-profit organizations to raise the standard of living.	Nickels, McHugh & McHugh Chapter 1 and Course Outline Page 2-7 Handout available on virtual learning system
Session -2	Introduction to Business Issues	Identifying the contrast between being an entrepreneur and working for others. Analyze the effect of economic, technological, competitive, social, political, and natural environment effect business.	Nickels, McHugh & McHugh Chapter 1 Page 8-27 Handout available on virtual learning system
Session -3	Understanding How Economics Affects Business	Understanding basic economics. Knowing what capitalism is and how free markets work. Comparing socialism and communism. Analyzing the trend toward mixed economies.	Nickels, McHugh & McHugh Chapter 2 Page 28-44 Handout available on virtual learning system
Session -4	Understanding How Economics Affects Business	Understanding different economic system and key economic indicators. Contrasting fiscal policy and monetary policy and knowing how these two affect economy.	Nickels, McHugh & McHugh Chapter 2 Page 45-57 Handout available on virtual learning system
Session -5	Doing Business in Global Markets	Discussing the importance of the global market and the roles of comparative advantage and absolute advantage in global market. Explaining the importance of exporting and importing, and understanding the key terms used in global market. Illustrating the strategies used in reaching global market. Explaining the role of multinational corporations.	Nickels, McHugh & McHugh Chapter 3 Page 58-71 Handout available on virtual learning system
Session -6	Doing Business in Global Markets	Evaluate the forces that effect trading in global market. Understanding the advantages and disadvantages of trade protectionism. Discussing the changing landscape of the global market and the issue of offshore outsourcing.	Nickels, McHugh & McHugh Chapter 3 Page 72-87 Handout available on virtual learning system
Session-7	Form of Business	Comparing the advantages and disadvantages of sole proprietorships. Identifying the advantages and disadvantages of partnerships. Comparing the advantages and disadvantages of corporations. Defining the three types of mergers. Outlining the advantages and disadvantages of franchises.	Nickels, McHugh & McHugh Chapter 5 Page 112-143 Handout available on virtual learning system
Session -8	Entrepreneurship Quiz 1	Explaining why people take the risks of entrepreneurship, listing the attributes of successful entrepreneurs; and describing entrepreneurial teams, intrapreneurs, and web-based businesses. Understanding the reasons behind small-business failures and successes.	Nickels, McHugh & McHugh Chapter 6 Page 144-159 Handout available on virtual learning system
Session -9	Entrepreneurship	Summarizing ways to learn about how small businesses operate. Analyzing what it takes to start and run a small business. Outlining the advantages and disadvantages of small businesses to enter global market.	Nickels, McHugh & McHugh Chapter 6 Page 160-174 Handout available on virtual learning system
Session -10	Adapting Organizations to Today’s Market	Outlining the basic principles of organization management. Comparing the organizational theories of Fayol and Weber. Evaluating the choices managers make in structuring organizations.	Nickels, McHugh & McHugh Chapter 8 Page 200- 212 Handout available on virtual learning system
Session -11	Adapting Organizations to Today’s Market	Contrasting the various organizational models. Identifying the benefits of interfirm cooperation and coordination. Explaining how organizational culture can help businesses adapt to change.	Nickels, McHugh & McHugh Chapter 8 Page 213-227 Handout available on virtual learning system
Session -12	Mid-Term Examination	Chapter: 1, 2, 3, 5, 6 & 8	Nickels, McHugh & McHugh Chapter: 1, 2, 3, 5, 6, & 8
Session -13	Human Resources Briefing on Business Plan Preparation	Explain the importance of human resource management, and describe current issues in managing human resources. Illustrate the effects of legislation on human resource management. Summarizing the five steps in human resource planning. Describing methods that companies use to recruit new employees, and explaining some of the issues that make recruitment challenging. Outlining the six steps in selecting employees.	Nickels, McHugh & McHugh Chapter 11 Page 282-296 Handout available on virtual learning system
Session -14	Human Resource	Illustrating employee training and development methods. Tracing the six steps in appraising employee performance. Summarizing the objectives of employee compensation programs, and describing various pay systems and fringe benefits. Showing how managers use scheduling plans to adapt to workers’ needs. Describing how employees can move through a company, promotion, reassignment, termination, and retirement.	Nickels, McHugh & McHugh Chapter 11 Page 297-315 Handout available on virtual learning system
Session -15	Marketing	Defining marketing and apply marketing concept to both for-profit and non-profit organizations. Describing the 4Ps of marketing. Summarizing the marketing research process. Showing how marketers use environmental scanning to learn about the changing marketing environment. Understanding market segmentation, relationship marketing and consumer behavior. Comparing business-to-business market and the consumer market.	Nickels, McHugh & McHugh Chapter 13 Page 344-370 Handout available on virtual learning system
Session -16	Developing and Pricing Goods and Services	Explaining the steps in the new product development process. Describing product life cycle. Identifying various pricing objectives and strategies.	Nickels, McHugh & McHugh Chapter 14 Page 385- 399 Handout available on virtual learning system
Session -17	Distributing Products Quiz 2	Explaining the concept of marketing channels and their value. Demonstrating how intermediaries perform the six marketing utilities. Comparing the distribution strategies retailers use. Explaining the various kinds of nonstore retailing.	Nickels, McHugh & McHugh Chapter 15 Page 400- 408 & 411-415 Handout available on virtual learning system
Session -18	Using Effective Promotions	Identifying the new and traditional tools that make up the promotion mix. Contrasting the advantages and disadvantages of various advertising media. Illustrating the steps of the B2B and B2C selling processes.	Nickels, McHugh & McHugh Chapter 16 Page 428- 440 Handout available on virtual learning system
Session -19	Using Effective Promotions	Describing the role of the public relations department and showing how publicity fits in that role. Assessing the effectiveness of various forms of sales promotion, including sampling. Showing how the word-of-mouth, e-mail marketing, viral marketing, blogging, podcasting, and mobile marketing work.	Nickels, McHugh & McHugh Chapter 16 Page 441- 452 Handout available on virtual learning system
Session -20	Understanding Accounting	Understanding how financial statements differ. Knowing to prepare income statement. How to calculate cost of goods sold, gross profit, operating expenses, net profit or loss.	Nickels, McHugh & McHugh Chapter 17 Page 468- 471 Handout available on virtual learning system
Session -21	Financial Management	Explain the role and responsibilities of financial managers. Outlining the financial planning process and explaining the three key budgets in the financial plan. Explaining why firms need operating funds.	Nickels, McHugh & McHugh Chapter 18 Page 486- 495 Handout available on virtual learning system
Session -22	Financial Management	Identifying and describing the different sources of short-term financing. Identifying and describing different sources of long-term financing.	Nickels, McHugh & McHugh Chapter 18 Page 496- 511 Handout available on virtual learning system
Session -23	Presentation of Business Plan	Business plan on an innovative product/service for Bangladeshi consumer market.
Session -24	Presentation of Business Plan	Business plan on an innovative product/service for Bangladeshi consumer market.
Session -25	Presentation of Business Plan	Business plan on an innovative product/service for Bangladeshi consumer market.
Session -26	Final Exam	CHAPTERS 11, 13, 14, 15, 16, 17 & 18	Nickels, McHugh & McHugh Chapter 11, 13, 14, 15, 16, 17 & 18