Introduction to Business

Course Content from McGraw-Hill

Course Number: BUS101

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Concepts, principles, and operations of the private enterprise system are identified in this course. Students compare and contrast sole proprietorships, partnerships, and corporations, and they learn the advantages and disadvantages of each. This course also discusses the functions of modern business management, marketing, and ethics and social responsibility. Human resource management is described as well as how employers can motivate their employees. Bookkeeping, accounting, financial management, and financial statements are also examined.

etextbook included

college credits

Self Paced

Business

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Overall Rating
Content Rating

9/22/14 by tiff2312

The course was easy to following and the quizzes were helpful in preparing for the graded exam.

Content Rating	100 100
Overall Rating	100 100

9/22/14 by tiff2312

The course was easy to following and the quizzes were helpful in preparing for the graded exam.

Content Rating	100 100
Overall Rating	100 100

6/16/14 by emilylm

Wonderful course. I learned so much about business basics. I feel it has given me a great foundation to stand on as I move towards starting my own business.

Content Rating	100 100
Overall Rating	100 100

6/16/14 by emilylm

Wonderful course. I learned so much about business basics. I feel it has given me a great foundation to stand on as I move towards starting my own business.

Content Rating	100 100
Overall Rating	100 100

9/23/13 by evorayosvel

It was really hard. Provide useful study material

Content Rating	60 100
Overall Rating	100 100

8/31/13 by jdavism

Good course, well laid out quizzes and tests. I used this course as my first and the proctoring and everything was very easy.

Content Rating	80 100
Overall Rating	80 100

8/2/13 by bhouston64

It was great to do it at my pace. I completed the class in 7 days.

Content Rating	100 100
Overall Rating	100 100

7/19/13 by kdlilley16

Good course to take to give you a basic understanding of business.

Content Rating	80 100
Overall Rating	80 100

7/6/13 by shawn.stegall

Very straightforward.

Content Rating	100 100
Overall Rating	100 100

4/8/13 by alana9four

Content Rating	100 100
Overall Rating	100 100

2/24/13 by theball01

Content Rating	80 100
Overall Rating	80 100

12/31/12 by schulmansm

Content Rating	100 100
Overall Rating	100 100

12/31/12 by kyle.bisconer

Content Rating	100 100
Overall Rating	100 100

12/23/12 by jwazny

Content Rating	100 100
Overall Rating	100 100

12/22/12 by brandon.symonette

Content Rating	80 100
Overall Rating	80 100

12/10/12 by leslehsprecker

Content Rating	80 100
Overall Rating	80 100

12/6/12 by pnoll13

Content Rating	100 100
Overall Rating	100 100

12/3/12 by Carter.m2302

Content Rating	80 100
Overall Rating	80 100

11/30/12 by aankoop

Awesome speed of earning three college credits!

Overall Rating	100 100
Content Rating	100 100

11/26/12 by aankoop

Awesome speed of earning three college credits!

Content Rating	100 100
Overall Rating	100 100

11/11/12 by wrgentry

Content Rating	80 100
Overall Rating	80 100

11/11/12 by wrgentry

Content Rating	80 100
Overall Rating	80 100

11/8/12 by irish_jess

Content Rating	100 100
Overall Rating	100 100

11/8/12 by irish_jess

Content Rating	100 100
Overall Rating	100 100

10/12/12 by cjvzamory

I liked all of it

Overall Rating	80 100
Content Rating	80 100

10/2/12 by shane.c.leblanc

I liked Blackboard, multiple choice, go at your own pace... etc...

Overall Rating	60 100
Content Rating	60 100

9/2/12 by clasmaldonado

I liked that I could go at my own pace.

Overall Rating	100 100
Content Rating	100 100

8/20/12 by haldak

I liked that it was self directed

Overall Rating	60 100
Content Rating	80 100

8/15/12 by naeml8

I liked that it was self- paced and for independent studies.

Overall Rating	80 100
Content Rating	80 100

8/5/12 by a_rena_g

I liked that the tests were only 25 questions

Overall Rating	100 100
Content Rating	100 100

8/2/12 by cjvzamory

I liked all of it

Content Rating	80 100
Overall Rating	80 100

7/9/12 by shane.c.leblanc

I liked Blackboard, multiple choice, go at your own pace... etc...

Content Rating	60 100
Overall Rating	60 100

6/18/12 by andrearoy

I liked the games that helped me retain the information and I liked having access to my grades to help me prepare for my final.

Overall Rating	80 100
Content Rating	100 100

5/29/12 by early

I liked the lessons because the reading was difficult but the lessons somewhat helped me understand better.

Overall Rating	40 100
Content Rating	60 100

5/2/12 by powers.david14

I liked the simplicity

Overall Rating	60 100
Content Rating	60 100

4/30/12 by clasmaldonado

I liked that I could go at my own pace.

Content Rating	100 100
Overall Rating	100 100

3/31/12 by haldak

I liked that it was self directed

Content Rating	80 100
Overall Rating	60 100

3/17/12 by naeml8

I liked that it was self- paced and for independent studies.

Content Rating	80 100
Overall Rating	80 100

3/13/12 by figq

I would have to say the reading assignments and grasping the information in a timely manner.

Overall Rating	100 100
Content Rating	100 100

3/2/12 by a.e.lynn

It was very interesting and engaging.

Overall Rating	100 100
Content Rating	80 100

2/29/12 by Brucet3

I've been in Business for QUITE a while. This was a GREAT refresher. Tests challenged my knowledge!!!

Overall Rating	100 100
Content Rating	100 100

2/25/12 by mcvittiethomas

No written assignments.

Overall Rating	100 100
Content Rating	100 100

2/24/12 by a_rena_g

I liked that the tests were only 25 questions

Content Rating	100 100
Overall Rating	100 100

2/21/12 by tport144

Overall, the course was great

Overall Rating	100 100
Content Rating	80 100

11/3/11 by andrearoy

I liked the games that helped me retain the information and I liked having access to my grades to help me prepare for my final.

Content Rating	100 100
Overall Rating	80 100

10/3/11 by axelpargas

Overall Rating	80 100
Content Rating	100 100

10/2/11 by michaelbullock1

Overall Rating	80 100
Content Rating	80 100

10/2/11 by amyartiga

Overall Rating	100 100
Content Rating	80 100

10/1/11 by chrislane125

Overall Rating	100 100
Content Rating	100 100

10/1/11 by damian.k.baker

Overall Rating	80 100
Content Rating	80 100

10/1/11 by desantotony

Overall Rating	100 100
Content Rating	100 100

9/30/11 by galvin42

Overall Rating	100 100
Content Rating	60 100

9/30/11 by hcfromtheoc

Overall Rating	80 100
Content Rating	60 100

9/29/11 by holly

Overall Rating	100 100
Content Rating	100 100

9/29/11 by jenntalley69

Overall Rating	80 100
Content Rating	80 100

9/28/11 by johnbettsva

Overall Rating	80 100
Content Rating	80 100

9/28/11 by johwilson

Overall Rating	100 100
Content Rating	100 100

9/28/11 by kylehausam

Overall Rating	80 100
Content Rating	80 100

9/27/11 by marty80606

Overall Rating	100 100
Content Rating	80 100

9/27/11 by mcvittiethomas

Overall Rating	100 100
Content Rating	100 100

9/26/11 by mcvittiethomas

Overall Rating	100 100
Content Rating	100 100

9/26/11 by merrill191962

Overall Rating	100 100
Content Rating	80 100

9/25/11 by moe77oh

Overall Rating	100 100
Content Rating	100 100

9/25/11 by oh2bluved

Overall Rating	60 100
Content Rating	60 100

9/25/11 by oh2bluved

Overall Rating	60 100
Content Rating	40 100

9/24/11 by samedu21

Overall Rating	80 100
Content Rating	80 100

9/24/11 by smeredith65

Overall Rating	80 100
Content Rating	100 100

9/23/11 by trevinsclark

Overall Rating	80 100
Content Rating	80 100

9/16/11 by early

I liked the lessons because the reading was difficult but the lessons somewhat helped me understand better.

Content Rating	60 100
Overall Rating	40 100

7/15/11 by powers.david14

I liked the simplicity

Content Rating	60 100
Overall Rating	60 100

3/19/11 by figq

I would have to say the reading assignments and grasping the information in a timely manner.

Content Rating	100 100
Overall Rating	100 100

2/20/11 by a.e.lynn

It was very interesting and engaging.

Content Rating	80 100
Overall Rating	100 100

2/15/11 by Brucet3

I've been in Business for QUITE a while. This was a GREAT refresher. Tests challenged my knowledge!!!

Content Rating	100 100
Overall Rating	100 100

2/7/11 by mcvittiethomas

No written assignments.

Content Rating	100 100
Overall Rating	100 100

1/27/11 by tport144

Overall, the course was great

Content Rating	80 100
Overall Rating	100 100

2/28/10 by axelpargas

Content Rating	100 100
Overall Rating	80 100

2/27/10 by michaelbullock1

Content Rating	80 100
Overall Rating	80 100

2/26/10 by amyartiga

Content Rating	80 100
Overall Rating	100 100

2/25/10 by chrislane125

Content Rating	100 100
Overall Rating	100 100

2/24/10 by damian.k.baker

Content Rating	80 100
Overall Rating	80 100

2/23/10 by desantotony

Content Rating	100 100
Overall Rating	100 100

2/22/10 by galvin42

Content Rating	60 100
Overall Rating	100 100

2/21/10 by hcfromtheoc

Content Rating	60 100
Overall Rating	80 100

2/20/10 by holly

Content Rating	100 100
Overall Rating	100 100

2/19/10 by jenntalley69

Content Rating	80 100
Overall Rating	80 100

2/18/10 by johnbettsva

Content Rating	80 100
Overall Rating	80 100

2/17/10 by johwilson

Content Rating	100 100
Overall Rating	100 100

2/16/10 by kylehausam

Content Rating	80 100
Overall Rating	80 100

2/15/10 by marty80606

Content Rating	80 100
Overall Rating	100 100

2/14/10 by mcvittiethomas

Content Rating	100 100
Overall Rating	100 100

2/13/10 by mcvittiethomas

Content Rating	100 100
Overall Rating	100 100

2/12/10 by merrill191962

Content Rating	80 100
Overall Rating	100 100

2/11/10 by moe77oh

Content Rating	100 100
Overall Rating	100 100

2/10/10 by oh2bluved

Content Rating	60 100
Overall Rating	60 100

2/9/10 by oh2bluved

Content Rating	40 100
Overall Rating	60 100

2/8/10 by samedu21

Content Rating	80 100
Overall Rating	80 100

2/7/10 by smeredith65

Content Rating	100 100
Overall Rating	80 100

2/6/10 by trevinsclark

Content Rating	80 100
Overall Rating	80 100

Course Objectives

After completing this course, you will be able to:

Exhibit an understanding of the concepts, principles, and operation of the private enterprise system.
Evaluate and contrast major economic systems in businesses throughout the world.
Describe the various legal forms of business ownership such as sole proprietorship, partnership and corporation, the nature of each, the processes involved in creating each and the advantages and disadvantages of each.
Identify the functions of modern management in business organizations and how these functions are evolving in response to changes in the external and internal environments in technology, diversity, competition and governmental regulations.
Exhibit an understanding of the marketing function and describe the concepts and processes involved in designing product strategy, promotional strategy, distribution strategy, and pricing strategy.
Explain the importance of and the role of the financial management function and illustrate the concepts and processes involved in managing the acquisition and allocation of short- and long-term funds.
Describe the risk management functions and explain the concepts, processes and strategies involved in managing risk in a business.
Demonstrate the importance of business ethics and social responsibility to the long-term success of businesses and society's well being.

Topic	Lesson Topic	Subtopics	Objectives
1	Introduction to Business and Economics	The Nature of Business Risk and Profit Economics Economic Systems Supply and Demand	List the main elements comprising the business environment and the importance of each. Describe the process of risk-taking in business and the relationship to profit or loss. Define economics, classify the key economic indicators, and the impact on the American economy. Identify and describe the four major economic systems and distinguish which type the U.S. system most closely resembles. Define supply and demand and explain how the equilibrium price is found.
2	International Business	Theories of Comparative and Absolute Advantage Importing and Exporting International Business Strategies Forces Affecting Trade Trade Agreements and Organizations	Describe the roles of comparative and absolute advantage in the global market. Compare and contrast the effects of importing and exporting on a country's economy. Examine the different methods of expanding a business internationally. Identify and characterize the different forces affecting international trade. Appraise the trade agreements and trade organizations that structure the international marketplace.
3	Ethical Business Behavior	Social Responsibility Types of Corporate Responsibility	Explain why a business should be held to certain standards of ethics and in what ways a business is responsible to the community. Describe the responsibilities a business has to its employees, customers, and investors.
4	Types of Business Ownership	Sole Proprietorship Partnerships Corporations Mergers and Acquisitions Other Forms of Ownership	Describe the features of a sole proprietorship. Compare and contrast the two types of partnerships. List the main types of corporations and the advantages and disadvantages of each. Explain the various ways that a business can be purchased or merged. Identify other forms of business ownership and the reasons for not choosing a conventional form of ownership.
5	Small Business	Entrepreneurship Starting a Small Business Small Business Difficulties Small Business Resources	Define entrepreneur and describe the characteristics one should possess. Explain the steps in starting a small business and the importance of a comprehensive business plan. Analyze reasons why small a business may succeed or fail. Evaluate the resources a small business can use.
6	Management	The Functions and Responsibilities of Management Levels of Management Planning	Express the purpose of business management and its position in business procedures. Describe specific functions management serves and the various types of responsibilities. Define the levels of management and diagram a simple management structure. Examine the methods of planning management employs and how it affects the operations of a business.
7	Business Organizations	Centralized and Decentralized Authority Broad and Narrow Span of Control Departmentalization Organizational Structure	Examine both structures of authority and how each structure affects the management of a business. Assess the process of determining the optimum number of employees per member of management. Describe the various ways that a business can departmentalize its organization. Explain the different ways of structuring an organization.
8	Human Resource Motivation	Maslow's Hierarchy of Needs Herzberg's Theory McGregor's Theory X and Theory Y Ouchi's Theory Z Other Motivational Theories	Explain Maslow's level of needs theory. Describe Herzberg's two factors. Differentiate between Theory X and Theory Y. Identify the aspects of Theory Z. Evaluate any additional theories that concern the motivation of employees.
9	Human Resource Management	Planning and Needs Assessment Recruiting and Selecting Training and Developing Appraising and Compensating Turnover and Legal Issues	Explain how human resources plans and assesses the company's hiring needs. Describe recruiting and examine how candidates are selected. Explain the different methods of training and development. Identify the ways a business appraises an employee's performance and the different forms of compensation. Describe the ways an employee can leave a business and explain the laws affecting employment.
10	Marketing	Purpose of Marketing Marketing Mix Market Research Marketing Environment Buying Behavior	Describe the goals and purpose of marketing. Identify the four P's of the marketing mix and explain the significance of each. Examine the ways a business can collect data on its target group and how the information is used. Identify the factors that influence marketing strategies. Define consumers' buying habits and examine how marketers react to these habits.
11	Pricing Products and Services	Product Differentiation Packaging Branding The Product Life Cycle Price and Nonprice Competition	Assess how and why a business differentiates its product lines. List what must be on a label and explain why there is legislation concerning this. Compare and contrast the major kinds of brand categories. Analyze the rise and decline of a product. Examine the ways a product can be competitive, based on both pricing and nonpricing strategies.
12	Accounting	Accounting Versus Bookkeeping The Uses of Accounting The Accounting Cycle Types of Financial Statements Ratio Analysis of Financial Statements	Differentiate the purposes of accounting and bookkeeping. Identify the uses of accounting as they pertain to a business. Illustrate the accounting cycle and describe the various steps. Examine the types of financial statements and the relevance of each. Demonstrate the different ratios used to asses the financial health of a business.
13	Financial Management	Financial Planning Funding Capital Budgeting Loans Debt and Equity Financing	Explain the need to plan and budget the flow of money in a business. Describe the sources of funding a business can seek for operating expenses. Illustrate the process of capital budgeting. Assess the different types of loans and the benefits associated with each. Compare and contrast debt and equity financing and the advantages and disadvantages of each.
14	Financial Institutions and Money	The Function of Money Federal Reserve Types of Banking Institutions Nonbanking Institutions Technology in BankingN	Explain the purpose and function of money. Classify the roles of the Federal Reserve System. Compare and contrast the types of banking institutions. Evaluate the merits of the different nonbanking institutions. Describe the various means of electronic banking.
15	Course Review	Review	Review of the course topics

There are no prerequisites to take Introduction to Business.

The required eTextbook for this course is included with your course purchase at no additional cost. More information on StraighterLine eTextbooks

Prefer the hard copy? Simply purchase from your favorite textbook retailer; you will still get the eTextbook for free.

Understanding Business by Nickels, McHugh, and McHugh has been the number one textbook in the introduction to business market for several editions for three reasons: (1) The commitment and dedication of an author team that teaches this course and believes in the importance and power of this learning experience, (2) we listen to our customers, and (3) the quality of our supplements package. We consistently look to the experts (full-time faculty members, adjunct instructors, and of course students) to drive the decisions we make about the text itself and the ancillary package. Through a series of focus groups, symposia, as well as full-book, single-chapter, revised manuscript reviews of both text and key ancillaries, we have heard the stories of more than 500 professors and their insights and experiences are evident on every page of the revision and in every supplement. As teachers of the course and users of their own materials, the author team is dedicated to the principles of excellence in business education. From providing the richest most current topical coverage to using dynamic pedagogy that puts students in touch with today's real business issues, to creating groundbreaking and market-defining ancillary items for professors and students alike, Understanding Business leads the way.

Nickels, William G., James M. McHugh, and Susan M. McHugh. Understanding Business, 8th edition. McGraw-Hill, 2008. ISBN 9780073105970

StraighterLine provides a percentage score and letter grade for each course. A passing percentage is 70% or higher.

If you have chosen a Partner College to award credit for this course, your final grade will be based upon that college's grading scale. Only passing scores will be considered by Partner Colleges for an award of credit.

There are a total of 1000 points in the course:

Topic	Assessment	Points Available
3	Graded Exam #1	125
5	Graded Exam #2	125
7	Graded Midterm Exam	250
10	Graded Exam #3	125
13	Graded Exam #4	125
15	Final Graded Exam	250
Total		1000

Final Proctored Exam

The final exam is developed to assess the knowledge you learned taking this course. All students are required to take an online proctored final exam in order complete the course and be eligible for transfer credit.

Learn more about Proctored Exams

Create your own custom Introduction to Business ! Select up to courses from the list below.

Online Course*: Introduction to Business +$59.00
eTextbook*: BUS101 eTextbook (an $85.39 value) +$0.00
Proctoring (included)*: Proctoring +$0.00
Tutoring (included)*: Tutoring +$0.00

Subtotal
$59.00