This overview of how business works is great for entrepreneurs planning on starting businesses, students trying to figure out whether a career in business is right for them, and employees looking to understand more about their companies and build their business acumen.
In Introduction to Business, you will study the concepts, principles and operations of private enterprise. You’ll compare and contrast sole proprietorships, partnerships, and corporations – and the advantages and disadvantages of each. You will explore the functions of modern business management, marketing, and ethics and social responsibility that can improve or tarnish a brand. You’ll also look at the human resource management side of running a business, and learn how employers can motivate their employees. Finally, you’ll address the numbers side of running a business and examine bookkeeping, accounting, financial management, and financial statements.
After completing this course, you will be able to:
- Exhibit an understanding of the concepts, principles, and operation of the private enterprise system.
- Evaluate and contrast major economic systems in businesses 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.
- Explain the importance of and the role of the financial management function and illustrate the concepts and processes involved in managing the acquisition and allocation of short- and long-term funds.
- Describe the risk management functions and explain the concepts, processes and strategies involved in managing risk in a business.
- Demonstrate the importance of business ethics and social responsibility to the long-term success of businesses and society’s well being.
Course Materials & Tuition
O.C. Ferrell, Geoffrey A. Hirt, and Linda Ferrell. M: Business, McGraw-Hill Education; 4 edition (January 17, 2014). ISBN: 9780078023156
Total Cost of Course