Module 1: Introduction to What Is Business??
The concept of business has enough definitions and applications that we could almost say that everything is business. Throughout this course we will explore the various functions, roles, and characteristics of business while keeping in mind that business is like the air we breathe—it’s everywhere!
Getting Down to Business
Introduction to For-Profit vs. Nonprofit
Profits and Purpose
Introduction to Factors of Production
Factors of Production
Introduction to Functional Areas
Functional Areas of Business
Introduction to Stakeholders
What Is a Stakeholder?
Introduction to External Forces
External Forces That Shape Business Activities
Putting It Together: Role of Business
Discussion: The Stakeholders of Salty Pawz
Discussion: External Factors = Internal Pressure
What Does a Business Look Like?
What Is Killing Our Business?
Functional Areas of Business
Module 2: Economic Environment?
Economics is about choices: namely, how we choose to allocate scarce resources and how our choices impact others.
Why It Matters: Economic Environment
Introduction to Learning Hacks
Learning Hacks: What’s the Best Use of My (Limited!) Time?
Introduction to What Is Economics?
Understanding Economics and Scarcity
The Concept of Opportunity Cost
Division of Labor and Specialization
Microeconomics and Macroeconomics
Introduction to Economic Systems
Economic Systems
Introduction to Demand
The Law of Demand
Factors Affecting Demand
Introduction to Supply
The Law of Supply
Factors Affecting Supply
Introduction to Equilibrium
Surpluses and Shortages
Equilibrium, Price, and Quantity
Practice: Equilibrium
Introduction to the Health of the Economy
Health of the Economy
Introduction to Economic Stages
Stages of the Economy
Putting It Together: Economic Environment
Discussion: Supply and Demand in Your Life
Discussion: Supply and Demand at Salty Pawz
Assignment: Supply and Demand for Salty Pawz
Assignment: Price Inelasticity of Demand
Module 3: Global Environment?
Why describe the characteristics, opportunities, and challenges of the global business environment?
Why It Matters: Global Environment
Introduction to Globalization
Globalization and Business
Absolute and Comparative Advantage
Global Markets
Introduction to Measuring Global Trade
Balance of Trade and Balance of Payments
Countertrade
Introduction to Global Business Strategies
Global Business Strategies
Introduction to Global Trade Forces
Sociocultural Differences
Political and Economic Differences
Legal Differences
Physical and Environmental Differences
Tariff and Nontariff Trade Restrictions
Introduction to Global Trade Agreements and Organizations
The World Trade Organization (WTO)
The World Bank
The International Monetary Fund (IMF)
The International Monetary Fund (IMF)
Trade Agreements
Introduction to Ethical Challenges in the Global Environment
Corruption
Labor Abuses
Putting It Together: Global Environment
Discussion: Sending Salty Pawz Global
Discussion: Sending Salty Pawz Global
Discussion: Made in America
Assignment: Taking Salty Pawz to the Global Market
Assignment: We Do It Better Here
Module 4: Financial Markets and System?
Why explain the institutions and markets that comprise the financial system, and explain how they impact the economy and the money supply?
Why It Matters: Financial Markets and System
Learning Hacks: Mindset
Introduction to Money
What Is Money?
Alternatives to Traditional Currency
Introduction to Role of Banks
Measuring and Tracking the Money Supply
Banks As Financial Intermediaries
The Federal Reserve System
How a Central Bank Executes Monetary Policy
The Federal Reserve Chair
Introduction to Financial Markets and Business
Financial Markets
How Businesses Raise Financial Capital
Putting It Together: Financial Markets and System
Discussion: Why Wanda Cares About the Federal Reserve—or Does She?
Discussion: Do You Have Change for a $20?
Assignment: Show Wanda the Money
Assignment: The Most Powerful Person in the World
Module 5: Legal Environment?
Why summarize the role of the legal system in governing and shaping the climate for business?
Introduction to the Meaning and Purpose of Law
Understanding Law
Purposes of Law
Rule of Law
Introduction to Statutory and Common Law
Statutory vs. Common Law
Introduction to Tort Law
Tort Law
Product Liability
Compensatory and Punitive Damages
Introduction to Intellectual Property
Intellectual Property
Introduction to Warranties
Warranties
Introduction to Contracts
What Is a Contract?
Breaches of Contracts
Introduction to Consumer Protection and Antitrust Laws
Consumer Protection
Antitrust Legislation
Putting It Together: Legal Environment
Discussion: They Don’t Sue Dog-Treat Companies, Do They?
Discussion: The Product-Liability Debate
Assignment: Your Dog Treats Made Fluffy Sick!
Assignment: Who Is Suing Whom?
Assignment: Who Is Suing Whom?
Module 6: Business Ethics?
Why explain the importance of business ethics and corporate social responsibility?
Why It Matters: Business Ethics and Corporate Social Responsibility
Learning Hacks: How Often Should I Study?
Introduction to Ethical and Legal Behavior
Ethical and Legal Behavior
Introduction to Business Ethics
Building Business Ethics
Introduction to Ethical Challenges
Bribery and Kickbacks
Bribery and Kickbacks
Conflict of Interest
Whistleblowing
Examples of Unethical Business Behavior
Introduction to Corporate Social Responsibility
Corporate Social Responsibility
Examples of Corporate Social Responsibility
Controversies Surrounding CSR
Putting It Together: Business Ethics and Corporate Social Responsibility
Discussion: It’s Not Stealing if You Pay For It, Is It?
Discussion: Are They Simply Guidelines?
Assignment: What They Don’t Know Won’t Hurt Me
Assignment: Corporate Social Responsibility
Assignment: Business Ethics and Corporate Social Responsibility
Module 7: Business Ownership?
Why distinguish among the forms of business ownership?
Why It Matters: Business Ownership
Introduction to Choosing an Organizational Type
Introduction to Choosing an Organizational Type
Selecting a Form of Business Ownership
Introduction to Sole Proprietorships
Sole Proprietorships
Introduction to Partnerships
Partnerships
Introduction to Corporations
C and S Corporations
Benefit Corporations
Introduction to Hybrid Forms of Ownership
Limited Liability Company (LLC)
Limited Liability Partnership (LLP)
Introduction to Franchises
Franchises
Franchises
Introduction to Mergers and Acquisitions
Mergers and Acquisitions
Putting It Together: Business Ownership
Discussion: Business Structure Does Matter
Discussion: Entrepreneurs and Business Ownership
Assignment: Wanda’s Business-Ownership Options
Assignment: Franchising—an Alternative to Start-up
Module 8: Entrepreneurship?
Why discuss the role of entrepreneurship in small business?
Why It Matters: Entrepreneurship
Learning Hacks: Should I Ask For Help?
Learning Hacks: Should I Ask For Help?
Introduction to Small Business
Understanding Small Businesses
Contributions of Small Businesses on the U.S. Economy
Introduction to Entrepreneurs
What Is an Entrepreneur?
Types of Entrepreneurs
Reasons to Be an Entrepreneur
Introduction to Advantages, Disadvantages, and Considerations
Advantages and Disadvantages of Small-Business Ownership
Why Some Ventures Fail
Considerations When Starting a Business
Introduction to Steps to Starting a Business
Ten Steps to Starting a Business
Introduction to Business Plans
Create Your Business Plan
Putting It Together: Entrepreneurship
Discussion: Wanda’s Entrepreneurial Spirit
Discussion: Am I an Entrepreneur?
Assignment: Dear Wanda’s Mom
Assignment: Today’s Hottest Entrepreneurs
Module 9: Management?
Why describe the primary functions, responsibilities, and skills of effective leadership and management?
Why It Matters: Management
Introduction to Managers
Managerial Levels
Managerial Skills
Introduction to Management Theory
Scientific Management Theory
Field of Management Theory
Introduction to Planning
Planning
Introduction to Organizing
Organizing
Introduction to Leading
Different Management Styles
Different Leadership Styles
Introduction to Controlling
Controlling
Putting It Together: Management
Discussion: How Great Leaders Inspire Action
Assignment: One Owner, Many Hats
Assignment: Are Leaders Born or Made?
Module 10: Motivating Employees?
Why explain common motivational theories and apply them to business?
Why It Matters: Motivating Employees
Learning Hacks: How Should I Study Across Topics?
Introduction to the Hawthorne Effect
The Hawthorne Studies
Introduction to Need-Based Theories
Maslow’s Hierarchy of Needs
Alderfer’s ERG Theory
Intrinsic and Extrinsic Motivators
McClelland’s Acquired Needs Theory
Introduction to Process-Based Theories
Equity Theory
Expectancy Theory
Reinforcement Theory
Introduction to Theory X, Theory Y, and Theory Z
McGregor’s Theory X and Theory Y
Ouchi’s Theory Z
Introduction to Strategies for Motivating Employees
Job Design and Job Characteristics Theory
Goal-Setting Theory
Putting It Together: Motivating Employees
Discussion: Why Isn’t Jamie More Motivated?
Discussion: Motivate Me!
Assignment: Motivating with Dog Treats?
Assignment: What’s Empowerment Got to Do with It?
Module 11: Teamwork and Communication?
Why explain the importance of teamwork and effective communication in a business environment?
Why It Matters: Teamwork and Communication
Introduction to Teams
Differences Between Groups and Teams
Types of Teams
Introduction to Team Development and Success
Stages of Team Development
Team Success
Introduction to Effective Communication and Barriers
Effective Communication and Barriers
Introduction to Communication Channels, Flows, and Networks
Communication Channels
Communication Flows
Communication Networks
Introduction to Electronic Communication
Electronic Communication
Putting It Together: Teamwork and Communication
Discussion: What You Heard Was Not What I Meant
Discussion: The Ultimate Cost of Poor Communication
Assignment: Teamwork at Salty Pawz
Assignment: Multicultural Virtual Work Teams
Assignment: Formal and Informal Communication
Module 12: Managing Processes?
Why explain how operations management contributes to organizational success?
Why It Matters: Managing Processes
Learning Hacks: The Myth of Multitasking
Introduction to Operations Management
Operations Management
Operations Management in the Service Industry
Introduction to Production Processes
Project- or Job-Based Production
Batch Production
Mass Production
Introduction to Production Planning
Facility Location and Layout
Materials Planning and Inventory Control
Scheduling Tools
Introduction to New Technologies
New Technologies
Introduction to Supply Chain Management and Logistics
Supply Chain Management and Logistics
Introduction to Quality Assurance
Quality Assurance
Putting It Together: Managing Processes
Discussion: More Than Just Baking Treats
Discussion: How Things Are Made
Assignment: From Kitchen Baker to Operations Manager
Assignment: The Malcolm Baldridge Award
Module 13: Marketing Function?
Why explain the key components of the marketing function?
Why It Matters: Marketing Function
Introduction to Role of Customers
Marketing Defined
How Companies Approach Marketing
Value Proposition
Marketing and Customer Relationships
Influences on Consumer Decisions
Buying-Process Stages
Introduction to Segmentation and Targeting
Defining Your Target Market
The Importance of Marketing Information and Research
The Marketing Research Process
Introduction to Marketing Mix Introduction
Defining the Marketing Mix
Components of the Marketing Mix
Finding the Right Marketing Mix
Creating and Aligning the Marketing Strategy
Putting It Together: Marketing Function
Discussion: Customer Value Perception
Discussion: Black Friday and Cyber Monday
Assignment: Customers and Marketing at Salty Pawz
Assignment: Hit Your Target
Assignment: Marketing Mix Examples
Module 14: Marketing Mix?
Why explain how organizations use the marketing mix to market to their target customers?
Learning Hacks: Learning Styles
Introduction to Product
Consumer Product Categories
Elements and Benefits of Branding
Common Branding Strategies
Stages of the Product Life Cycle
Marketing through the Product Cycle
The New-Product Development Process
Introduction to Promotion
Integrated Marketing Communication (IMC) Definition
Common Marketing Communication Methods
Using IMC to Support Marketing Strategies
Introduction to Place
Channels of Distribution
Channel Partners
The Role of Wholesale Intermediaries
Retailers that Distribute Products
Supply Chains and Distribution Channels
Introduction to Price
Customer Value and Price
Pricing Objectives
Cost-Plus Pricing Method
Discounting Strategies
Putting It Together: Marketing Mix
Discussion: Marketing Mix
Discussion: The Four Ps of the Competition
Assignment: The Four Ps of Gourmet Dog Treats
Assignment: I Can See the Four Ps of Marketing
Module 15: Human Resource Management?
Why explain the role of human resource management in planning, recruiting, and managing a workforce?
Why It Matters: Human Resource Management
Introduction to Human Resource Management
Human Resource Management
Employment Legislation
Introduction to Recruitment and Hiring
Diversity in Human Resources
Recruitment
The Hiring Process
Introduction to Training, Development, and Rewards
Training and Professional Development
Performance Appraisals
Compensation
Introduction to Termination
Termination
Introduction to HR Challenges
Reducing Turnover
HR Challenges
Putting It Together: Human Resource Management
Discussion: People Won’t Work for Dog Treats!
Discussion: Are Interviews a Waste of Time?
Assignment: Wanda’s Hiring Approach, or How to Be Sued in One Easy Lesson
Assignment: Career Choices
Module 16: Accounting and Finance?
Why learn how to use accounting and financial principles to make informed decisions?
Why It Matters: Accounting and Finance
Learning Hacks: Don’t Bother Highlighting
Introduction to Accounting in Business
What Is Accounting?
Introduction to Key Financial Statements
Financial Statements
Financial Statements: Interconnectivity
Introduction to the Break-Even Point
Finding the Break-Even Point
Introduction to Financial Ratios
Financial Ratio Analysis
Introduction to Ethical Practices in Accounting
Ethics in Accounting
Putting It Together: Accounting and Finance
Discussion: Cooking More Than Dog Treats
Discussion: CPAs and Financial Crisis
Assignment: Bison Bites Are Biting into Wanda’s Break-Even Point
Assignment: Claire’s Cuttery
Module 17: Using Technology to Manage Business Information?
Why learn how technology is used to manage business information?
Why It Matters: Using Technology to Manage Business Information
Introduction to Technological Changes in Business
Using Technology
Technology’s Influence on Business
Business Intelligence
Introduction to How Businesses Use Information
Data vs. Information
Business Data
Data Mining and Warehousing
Information and Business
Introduction to Information Networks
The Internet and Cloud Computing
Intranets and Extranets
Virtual Private Networks (VPNs)
Introduction to Current Issues in IT
Security Issues in Information Technology
Ethical and Social Issues in Information Technology
Putting It Together: Using Technology to Manage Business Information
Discussion: Wanda on the Web
Assignment: Policy at Salty Pawz
