BUS 101 Introduction to Business


Campus Location:
Georgetown, Dover, Wilmington
Effective Date:
2018-51
Prerequisite:
ENG 090 or ENG 091 or concurrent, SSC 100 or concurrent
Co-Requisites:
None
Course Credits and Hours:
3.00 credits
3.00 lecture hours/week
0.00 lab hours/week
Course Description:

This course surveys business functions, including forms of business ownership, business environments, ethics, management, production, marketing, financial markets, and accounting.

Required Text(s):

Obtain current textbook information by viewing the campus bookstore online or visit a campus bookstore. Check your course schedule for the course number and section.

Additional Materials:

None

Schedule Type:
Classroom Course
Hybrid Course
Online Course
Disclaimer:

None

Core Course Performance Objectives (CCPOs):
  1. Describe the role of business in society. (CCC 1, 2, 3, 4; PGC GBT 1, MAN 1; MKT 1)
  2. Identify the forms of organizations. (CCC 1, 2, 4; PGC MAN 2, 3, 4, 5)
  3. Explain the principles of management. (CCC 1, 2, 3, 4; PGC ENT 4; GBT 2, 3, 6; LOM 6; MAN 2, 3, 4, 5; MKT 2)
  4. Explain the principles of marketing. (CCC 1, 2, 3, 4; PGC ENT 6; GBT 2, 4; LOM 7; MAN 2; MKT 2, 7)
  5. Explain the function of accounting. (CCC 1, 2, 4, 6; PGC GBT 5; LOM 7; MAN 1; MKT 1)
  6. Discuss the function of finance. (CCC 1, 2, 6; PGC GBT 5)
  7. Practice professionalism, and use career exploration tools. (CCC 1, 2, 3, 4; PGC ENT 7; GBT 1; MAN 1; LOM 7; MKT 1)

See Core Curriculum Competencies and Program Graduate Competencies at the end of the syllabus. CCPOs are linked to every competency they develop.

Measurable Performance Objectives (MPOs):

Upon completion of this course, the student will:

  1. Describe the role of business in society.
    1. Explain the economic systems, the factors of production, and supply and demand.
    2. Discuss the importance of the global market, including comparative and absolute advantage, importing, and exporting.
    3. Discuss the economic system of the United States, including key economic indicators and the business cycle.
    4. Explain forces that impact business, including taxes, technology, competition, law, culture, diversity, ethics, and social responsibility.
    5. Describe the relationship between profit and risk.
    6. Distinguish between being an entrepreneur and working for others.
  2. Identify the forms of organizations.
    1. Recognize the advantages and disadvantages of sole proprietorships.
    2. Describe the differences between general and limited partners, and compare the advantages and disadvantages of partnerships.
    3. Recognize the advantages and disadvantages of corporations, and summarize the differences among C corporations, S corporations, and limited liability companies.
    4. Outline the advantages and disadvantages of franchises.
    5. Explain why people take the risks of entrepreneurship, and list the attributes of successful entrepreneurs.
    6. Discuss the importance of small business to the American economy, and summarize the major causes of small-business failure.
  3. Explain the principles of management.
    1. Describe the functions of management: planning, organizing, directing, and controlling.
    2. Distinguish between leaders and managers, and describe leadership styles.
    3. Discuss organizational structures.
    4. Explain how organizational culture can help businesses adapt to change.
    5. Describe the state of United States manufacturing within the global market.
    6. Identify various production processes, and describe techniques that improve productivity.
    7. Describe operations management planning issues, including facility location and facility layout.
    8. Explain the role of human resource management in attracting, hiring, retaining, developing, and separating personnel.
    9. Discuss the impact of labor unions.
    10. Identify techniques for increasing employee motivation.
    11. Describe contemporary views of motivation: equity theory, expectancy theory, and goal-setting theory.
    12. Explain the purpose of a job analysis, job description, and job specification.
    13. Describe the process of staffing the organization.
    14. Discuss the primary elements of employee compensation and benefits.
  4. Explain the principles of marketing.
    1. Define marketing, and describe the product, price, place, and promotion (four Ps) of marketing.
    2. Summarize the marketing research process.
    3. Explain how environmental scanning is used to learn about the changing marketing environment.
    4. Explain market segmentation, relationship marketing, and the study of consumer behavior.
    5. Identify the various kinds of consumer and industrial goods.
    6. Describe the product life cycle.
    7. Identify various pricing objectives and strategies.
    8. Identify the distribution strategies of retailers.
    9. Describe logistics, and outline how intermediaries manage the transportation and storage of goods.
    10. Identify the elements of a promotion mix.
    11. Describe the role of public relations.
  5. Explain the function of accounting.
    1. Explain the roles of financial and managerial accounting.
    2. List the steps in the accounting cycle.
    3. Distinguish between accounting and bookkeeping
    4. Discuss the main financial statements and their purposes.
    5. Distinguish between assets and liabilities.
    6. Distinguish between revenues and expenses.
  6. Discuss the function of finance.
    1. Explain what money is and what makes money useful.
    2. Describe how the Federal Reserve controls the money supply.
    3. Recall the causes of the banking crisis starting in 2008, and explain how the government protects funds during such crises.
    4. Outline the financial planning process, and explain the three key budgets in the financial plan.
    5. Explain the role and responsibilities of financial managers.
    6. Identify and describe different sources of financing.
    7. Describe the role of securities markets and of investment bankers.
    8. Identify the stock exchanges where securities are traded.
    9. Compare the advantages and disadvantages of debt and equity financing.
  7. Practice professionalism, and use career exploration tools.
    1. List the services and resources provided by Delaware Tech Career Services.
    2. Prepare a draft résumé.
    3. Explain professional image.
    4. Identify strategies to develop a professional network.
Evaluation Criteria/Policies:

Students must demonstrate proficiency on all CCPOs at a minimal 75 percent level to successfully complete the course. The grade will be determined using the Delaware Tech grading system:

92 100 = A
83 91 = B
75 82 = C
0 74 = F

Students should refer to the Student Handbook for information on the Academic Standing Policy, the Academic Integrity Policy, Student Rights and Responsibilities, and other policies relevant to their academic progress.

Final Course Grade:

Calculated using the following weighted average

Evaluation Measure

Percentage of final grade

Exams (4) (Summative Assessments)

60%

Project

20%

Formative Assessments (Assignments/Activities/Quizzes, etc.)

20%

TOTAL

100%

Core Curriculum Competencies (CCCs are the competencies every graduate will develop):
  1. Apply clear and effective communication skills.
  2. Use critical thinking to solve problems.
  3. Collaborate to achieve a common goal.
  4. Demonstrate professional and ethical conduct.
  5. Use information literacy for effective vocational and/or academic research.
  6. Apply quantitative reasoning and/or scientific inquiry to solve practical problems.
Program Graduate Competencies (PGCs are the competencies every graduate will develop specific to his or her major):

 

Entrepreneurship (ENT):

  1. Demonstrate entrepreneurial leadership characteristics.
  2. Conduct market analysis and opportunity assessment.
  3. Perform risk assessment and select risk management strategies.
  4. Articulate a business vision and plan that demonstrates value to the marketplace and the investor.
  5. Plan capital formation to fund business start-up and operation.
  6. Utilize effective marketing, advertising, and customer strategies.
  7. Integrate personal, professional, ethical, and legal standards into business decision-making.
  8. Transform innovation into a product or service with sustainable commercial potential.

General Business (GBT):

  1. Integrate professional, ethical, and legal standards into business practice.
  2. Employ the various theories of management and marketing in a business.
  3. Apply the principles of human resource management to organizations.
  4. Evaluate the actions taken to acquire and retain customers.
  5. Measure and track financial performance of an organization.
  6. Analyze and apply the strategic management process to organizations.

Management (MAN):

  1. Integrate professional, ethical, and legal standards into business practice.
  2. Employ the various theories of management and marketing in a business.
  3. Utilize management functions, roles, and interpersonal skills to lead/manage first-level employees regardless of organizational size.
  4. Apply the principles of human resource management to organizations.
  5. Analyze and apply the strategic management process to organizations.

Marketing (MKT):

  1. Integrate professional, ethical, and legal standards into business practice.
  2. Employ the various theories of management and marketing in a business.
  3. Develop integrated sales presentations.
  4. Utilize graphic design elements to develop professional hard-copy and electronic marketing/advertising materials.
  5. Apply e-Marketing techniques to create a competitive presence.
  6. Analyze the marketing strategic planning process of an organization.
  7. Evaluate the actions taken to acquire and retain customers.

Logistics, Supply Chain, and Operations Management (LOM):

  1. Analyze logistics, supply chain, and operations processes to provide assistance in the development of quality, customer service, and cost improvement alternatives.
  2. Utilize various statistical quality control techniques to aid in the development and use of global quality logistics, supply chain, manufacturing, and service applications.
  3. Apply integrated technology-driven information necessary for logistics, supply chain, and operations.
  4. Perform cost analysis on proposed logistics, supply chain, and operations projects, and make data-driven investment recommendations to management.
  5. Develop and optimize logistics and operations business processes, including job design and workplace layout.
  6. Apply management functions, statistical quality and process applications, planning and scheduling techniques, and related software applications necessary for successful business decision-making.
  7. Apply managerial accounting, economics, human resources, and marketing principals when making workplace decisions.
Disabilities Support Statement:

The College is committed to providing reasonable accommodations for students with disabilities. Students are encouraged to schedule an appointment with the campus Disabilities Support Counselor to request an accommodation needed due to a disability. A listing of campus Disabilities Support Counselors and contact information can be found at the disabilities services web page or visit the campus Advising Center.

Minimum Technology Requirements:
Minimum technology requirements for online, hybrid, video conferencing and web conferencing courses.