BUS101: Intro to Business Administration

Categories: Business
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About Course

Have you ever wondered what the billionaire Warren Buffett, visionary Steve Jobs, and entrepreneur Jeff Bezos have in common? After you finish studying business practices in this course, you may discover you have many of these same qualities. This course will expose you to business terminology, concepts, and current business practices. We will help you establish a viable business vocabulary, foster critical and analytical thinking, and refine your business decision-making skills. You will acquire these skills throughout this course by simulating today’s workplace. By the end of the course, you will discover how to chart your choice of career in business.

Since your education should help you contribute and compete in the global business environment, we will also focus on multicultural aspects of markets and business. We will examine how the business models other countries adopt often reflect their most salient characteristics.

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What Will You Learn?

  • The context of Business
  • Entrepreneurship and the legalities of running a business
  • Marketing, Consumer Behaviour, and Sales
  • Accounting, Finance, and Banking for financial health
  • Effective Management and Leadership to run organizations

Course Content

Unit 1: The Context of Business
This unit covers the basic concepts that give context to a business. We explore economic and historical information governments use to make decisions, which provides a foundation for future decision-making. You will learn about productivity, the business cycle, the impact of business on society, economic trends and policies, and elements of global business. We will examine the financial meltdown of 2008, including the government bailout of AIG and General Motors, and the collapse of Lehman Brothers, which provide teachable moments in economic policy and business cycles.

Unit 2: Entrepreneurship and Legal Forms of Business
In this unit, we explore various forms of ownership (sole proprietorship, partnerships, and corporations) that affect how businesses are taxed, how profits are distributed, and what regulations must be followed. The form of ownership you choose corresponds to the growth, taxation, and future of your company. We also examine some techniques business owners use to analyze profitability. We review the characteristics of successful entrepreneurs, how small businesses impact the economy, and the role of the Small Business Administration in the United States. Completing this unit should take you approximately 10 hours. Upon successful completion of this unit, you will be able to: discuss the legal forms of businesses, including sole proprietorships, partnerships, corporations, limited-liability corporations, and subchapter S corporations; discuss the potential of a business to be profitable, when considering the legal form of business, tax rates, and break-even analysis; evaluate the appropriateness of the different legal forms of business for various business contexts; and analyze the impact of small business on the economy.

Unit 3: Marketing
Marketing encompasses more than simple advertising and selling. It describes the activity businesses engage in to create, communicate, deliver, and exchange their products to their customers, clients, partners, and society. Business owners not only aim to provide customers with the goods and services they want and need, but they also need to convince them to make a purchase and come back for more. It involves the product, price, distribution, and promotion in the form of advertisements, publicity, public relations, and sales promotion. We will explore e-commerce, e-business, and the use of social media marketing.

Unit 4: Accounting, Finance, and Banking
Every day, business owners make financial decisions that will affect every phase of the business operation, such as payroll, cash flow, and projecting future growth. A thorough understanding of accounting and financial management allows business owners to find the best sources and use of funds. For example, you can derive an accurate measure of the health of your business from the income statement, balance sheets, and financial ratios. We investigate financing options, how to analyze credit, and the time value of money. We also examine how banks, such as the U.S. Federal Reserve Bank, affect the ability of businesses to obtain financing.

Unit 5: Management
The management practices that a business adopts will inform how well it can achieve its goals and respond to changes in the workplace. For-profit and nonprofit companies achieve their goals through the four steps of management: planning, organizing, controlling, and leading. Technical, conceptual, and interpersonal skills are essential to the management process. It also involves using human, financial, and informational resources. In this unit, we explore how successful business management requires teamwork, communication, creating a clear corporate mission and culture, following good business ethics, and committing to social responsibility. Completing this unit should take you approximately 16 hours.

Final Assessment + Professional Certificate