BU-101 Introduction to Business

GENERAL INFORMATION:

Course number and title: BU101 Introduction to Business

Campus: National

Initiator: George Mangonon

Date: August 20, 2018

Course description:

This foundational course establishes a general understanding of contemporary business. It will cover business environment, business ethics and social responsibility, entrepreneurship, the global business environment and basic business laws/regulations and will introduce to the students other functional areas of business such as management and organization, human resources, marketing, financing, and accounting. The student will write a Business Plan for this course.

COURSE HOURS/CREDITS:

Hours per Week

No. of Weeks

Total Hours

Semester Credits

Lecture

Laboratory

Workshop

Total Semester

Credits

PURPOSE OF COURSE:

[X] Degree requirement

[ ] Degree elective

[ ] Certificate

[ ] Other

PREREQUISITES:

ESL 089 – Reading V

PSLOS OF OTHER PROGRAMS THIS COURSE MEETS:

PSLO#	Program
1. Explain the interdependent components of the international hospitality and tourism industry including transportation, customer service, food service, lodging, recreation management, roles of national and state visitors’ authorities, marketing and sales.	AS Degree, Hospitality and Tourism Management Program

1) INSTITUTIONAL STUDENT LEARNING OUTCOMES (Check all that apply)

[ ]	1. Effective oral communication: capacity to deliver prepared, purposeful presentations designed to increase knowledge, to foster understanding, or to promote change in the listeners’ attitudes, values, beliefs, or behaviors.
[X]	2. Effective written communication: development and expression of ideas in writing through work in many genres and styles, utilizing different writing technologies, and mixing texts, data, and images through iterative experiences across the curriculum.
[ ]	3. Critical thinking: a habit of mind characterized by the comprehensive exploration of issues, ideas, artifacts, and events before accepting or formulating an opinion or conclusion.
[ ]	4. Problem solving: capacity to design, evaluate, and implement a strategy to answer an open-ended question or achieve a desired goal.
[ ]	5. Intercultural knowledge and competence: a set of cognitive, affective, and behavioral skills and characteristics that support effective and appropriate interaction in a variety of cultural contexts.
[X]	6. Information literacy: the ability to know when there is a need for information, to be able to identify, locate, evaluate, and effectively and responsibly use and share that information for the problem at hand.
[X]	7. Foundations and skills for life-long learning : purposeful learning activity, undertaken on an ongoing basis with the aim of improving knowledge, skills, and competence.
[ ]	8. Quantitative Reasoning: ability to reason and solve quantitative problems from a wide array of authentic contexts and everyday life situations; comprehends and can create sophisticated arguments supported by quantitative evidence and can clearly communicate those arguments in a variety of formats.

2) PROGRAM STUDENT LEARNING OUTCOMES (PSLOs): The student will be able to:

1. Demonstrate basic knowledge of each of the functional areas of business - accounting, management, marketing, economics, and finance- by emphasizing their importance in an organization and describing their interrelationships in the organization’s attempt to achieve its objectives;

2. Demonstrate basic knowledge and skill in the use of cost and managerial concepts and techniques as management tools for planning, controlling, evaluating performance and making decisions;

3. Demonstrate basic knowledge and skill in business mathematics and elementary statistics by accurately performing common business computations, statistical data presentation and analysis;

4. Demonstrate basic knowledge and skills in intercultural writing and speaking appropriate for business; and

5. Demonstrate a basic understanding of the legal environment and ethical challenges confronting business in general and in the FSM, from both local and global perspectives.

3) COURSE STUDENT LEARNING OUTCOMES (CSLOs) (General): The student will be able to:

1. Demonstrate basic understanding of basic business and economic concepts, business ownership, entrepreneurship and franchising;

2. Demonstrate basic understanding of management and organization, the concepts in the production of goods and services and the human resources management process;

3. Demonstrate basic understanding of marketing concepts and activities;

4. Demonstrate basic understanding of the basic financial management; and

5. Demonstrate knowledge and ability of developing a business plan.

4) COURSE STUDENT LEARNING OUTCOMES (CSLOs) (Specific): The student will be able to:

CSLO (General) 1: Demonstrate basic understanding of basic business and economic concepts, business ownership, entrepreneurship and franchising.
Student Learning Outcome (specific)	ISLO	PSLO	Assessment Strategies
1.1. Explain basic business and economic concepts, business environment and economics.	6, 7	1	The instructor will use a grading rubric to assess an essay type of test that will require the student to explain the basic business environment and economics.
1.2. Describe the forms of business ownership.	6, 7	1	The instructor will use a grading rubric to assess a test that will require the student to describe the forms of business ownership.
1.3. Explain entrepreneurship and the franchising alternative.	6, 7	1	The instructor will use a grading rubric to assess a test that will require the student to explain entrepreneurship and the franchising alternative.
CSLO (General) 2: Demonstrate basic understanding of management and organization, the concepts in the production of goods and services and the human resources management process.
Student Learning Outcomes (specific)	ISLO	PSLO	Assessment Strategies
2.1. Explain basic management concepts.	6, 7	1	The instructor will use a grading rubric to assess an essay type of test that will require the student to explain basic management concepts.
2.2. Explain organization concepts and the forms of organizational structure.	6, 7	1	The instructor will use a grading rubric to assess an essay type of test that will require the student to explain basic organization concepts, and the forms of organizational structure.
2.3. Explain the concepts involved in the production of goods and services.	6, 7	1	The instructor will use a grading rubric to assess an essay type of test that will require the student to explain the concepts involved in the production of goods and services.
2.4. Explain the human resources management, its key responsibilities and processes.	6, 7	1	The instructor will use a grading rubric to assess an essay type of test that will require the student to explain the human resources management, its key responsibilities and processes.
CSLO (General) 3: Demonstrate basic understanding of marketing concepts.
Student Learning Outcomes (specific)	ISLO	PSLO	Assessment Strategies
3.1. Explain the meaning of marketing and the importance of managing customer relationships.	6, 7	1	The instructor will use a grading rubric to assess an essay type of test that will require the student to explain the meaning of marketing and the importance of managing customer relationships.
3.2. Explain the marketing mix.	6, 7	1	The instructor will use a grading rubric to assess an essay type of test that will require the student to explain the marketing mix.
CSLO (General) 4: Demonstrate basic understanding of the basic financial management.
Student Learning Outcomes (specific)	ISLO	PSLO	Assessment Strategies
4.1. Describe the functions of accounting and its importance to the firm’s management and to external entities.	6, 7	1	The instructor will use a grading rubric to assess an essay type of test that will require the student to describe the functions of accounting and its importance to the firm’s management and to external entities.
4.2. Prepare basic financial papers such as the balance sheet, income statement and the statement of cash flows.	6, 7	1	The instructor will use a grading rubric to assess an activity that will require the student to prepare basic financial papers such as the balance sheet, income statement and the statement of cash flows.
4.3. Identify a firm’s short- and long-term financial needs and their sources.	6, 7	1	The instructor will use a grading rubric to assess a test that will require the student to identify a firm’s short- and long-term financial needs and their sources.
CSLO (General) 5: Demonstrate knowledge and ability of developing a business plan.
Student Learning Outcomes (specific)	ISLO	PSLO	Assessment Strategies
5.1. Explain the importance of a business plan and identify and describe its components.	6, 7	1	The instructor will use a grading rubric to assess a test that will require the student explain the importance of a business plan, and identify and describe its components.
5.2. Write a business plan that will include all the basic components.	*2, 7	1	The instructor will use a grading rubric to assess a test that will require the student to choose a business idea and use this to write a business plan.

5) COURSE CONTENT:

· The World of Business and Economics

· Business Ethics and Social Responsibility

· Global Markets

· Forms of Business Ownership

· Small Business, Entrepreneurship and Franchisees

· The Management Process

Organization

· Human Resources Management

· Marketing Concepts

· New Products Development and Pricing

· Marketing Mix

· Financial Management

· Sources of Funds

· Accounting and Income Projections

6) METHOD(S) OF INSTRUCTION:

[X] Lecture [X] Cooperative learning groups

[ ] Laboratory [X] In-class exercises

[X] Audio visual [ ] Demonstrations

[ ] Other

7) REQUIRED TEXT(S) AND COURSE MATERIALS:

Pride, William M., et al. Foundations of Business. 5^th Ed. Cengage Learning, 2017. ISBN-10:1-305-51106-9.

8) REFERENCE MATERIALS:

None

9) INSTRUCTIONAL COSTS:

None

10) EVALUATION:

The summative evaluation will be based on examinations, authentic evaluations and a final project.

11) CREDIT BY EXAMINATION:

None

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BU-101 Introduction to Business