Course Details

1. Acquire theoretical knowledge and practical skills of the business organization realm
2. Analyze the nature of organizations in general and business in particular
3. Identify and discuss the forms of business ownership, their advantages and disadvantages
4. Discuss what it means to practice good business ethics and highlight three factors that influence ethical behaviour. Ability to make an ethical decision
5. Identify the internal and external environmental factors which affect general business practices and managerial decisions

I. The fundamentals of Business and Economics

Definitions of business and important micro- and macro-economic concepts such as demand versus supply, competition, monetary and fiscal policies, inflation, and economic indicators.

II. Ethics and Corporate Social Responsibility

Business ethics and corporate social responsibility and the multitude of factors that influence both. 

Businesses’ efforts to increase social responsibility, including their responsibility toward society, the environment, consumers, investors and employees.

Address issues related to business ethics and responsibility around the world.

III. Competing in the Global Economy

Theories and practices of international businesses and how they are affected by economic, social, cultural, political and legal differences among nations.  

Introduce major regional trading blocs and worldwide trading organizations and discuss the five main forms of international business.

IV. Business Structures

Examine the three most common forms of business ownership, namely sole proprietorship, partnership and corporation, as well as newer hybrid forms of business ownership such as Limited Liability Companies (LLCs).

Discuss the increasingly business phenomena of mergers, acquisitions and alliances

V. Small Business and Entrepreneurship

Define a small business (other than size alone) and identify the key factors that contribute to its increase in number.

Discuss common characteristics of successful entrepreneurs and provide various resources for would-be entrepreneurs, including how to write a business plan and where to obtain financing.

VI. Marketing Concepts and Strategies

Define marketing, and discuss how firms use market research to learn more about their customers’ needs and wants.

Outline the major steps in the strategic marketing planning process and highlight the various market segmentation techniques.

Identify the four elements of a firm’s marketing mix.

• Bovee, Till (2011) Business in action with real time updates, 5th edition, Pearson.

• Nickels, McHugh and McHugh (2012) Understanding Business, 10th edition, McGraw Hill.