This course will cover basic concepts of today’s business world. Students will understand What is Business, Business & Entrepreneurship, the Objectives of Business, Factors of Production, Ethics and Law, Corporate Social Responsibilities of Business, Types of Business Environment, Managing Business Ethically, 21st Century Diversity Issues; Types of economic systems, pros, and cons of capitalism, socialism, and communism, key economic indicators; How to Form a Business, Advantages, and Disadvantages of all forms of businesses; Entrepreneurship and related risks, home-based businesses, small business operations, managing a small business, business plan, sources of funds; Levels of Management, Important skills for different level management, Leadership Styles, Empowering workers, Building Customer Satisfaction; The Marketing Mix, B2B, and B2C Market, Market Segmentation, Pricing Strategies, Break-Even Analysis, Total Fixed Costs, Variable Costs.
Marketing Intermediaries, Channel of Distribution and Types of Intermediaries, Retail Distribution Strategies, Promotion Mix; Key Steps Of Financial Planning, Financial Forecasting, Budgeting And The Types Of It, Why Firms Need Financing, Short-Term Financing, Debt Financing, Equity Financing, Compiling Income Statement; Determining HR Needs, Recruitment & Selection Process, Compensation & Benefits, Training & Development, Performance Appraisal, Motivating Employees; Components of IS, fundamental roles of IS, IT in business, marketing system. Manufacturing information system, HRM system, accounting information system, financial information system; Organization Structures, Departmentalization, Cross Functional Self-Managed Teams, Organizational/Corporate Culture, Production Process, Operations Management Planning; Why trade with other nations, forms of international business, theory of absolute and comparative advantage, strategies to reach the global market, GATT, WHO and common markets; Introducing business communication with special focus on the writing process; Learning to form professional CV/Resume, Cover Letter, Meeting Minutes and E-mails; Introducing samples of written business communication.