Introduction to Business

Course Content from McGraw Hill
Course Number: BUS101
Download Course Syllabus
Overall Rating
Content Rating

Introduction to Business is a great course for students trying to figure out whether a career in business is right for them, employees looking to understand more about their companies and build their business acumen, and entrepreneurs planning to start businesses.

In our online Introduction to Business course you will study the concepts, principles and operations of private enterprise. You’ll compare and contrast sole proprietorships, partnerships, and corporations – and the advantages and disadvantages of each. You will explore the functions of modern business management, marketing, and ethics and social responsibility that can improve or tarnish a brand. You’ll also look at the human resource management side of running a business, and learn how employers can motivate their employees. Finally, you’ll address the numbers side of running a business and examine bookkeeping, accounting, financial management, and financial statements.

Coming Soon

etextbook included
3
college credits
Course Type Icon
Self Paced
Course Department Icon
Business
Publisher Icon
FREE eTextBook

Buy the course for only $59 and get a copy of the included eTextbook at no additional cost

By including eTextbooks in our courses, StraighterLine is helping students achieve their academic goals by providing best-in-class tools to make studying more convenient.

98 Reviews
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
    Overall 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
    Overall Rating
  • 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
    Overall Rating
  • 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
    Overall Rating
  • 9/23/13 by evorayosvel
    It was really hard. Provide useful study material
    Content Rating
    Overall Rating
  • 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
    Overall Rating
  • 8/2/13 by bhouston64
    It was great to do it at my pace. I completed the class in 7 days.
    Content Rating
    Overall Rating
  • 7/19/13 by kdlilley16
    Good course to take to give you a basic understanding of business.
    Content Rating
    Overall Rating
  • 7/6/13 by shawn.stegall
    Very straightforward.
    Content Rating
    Overall Rating
  • 4/8/13 by alana9four
    Content Rating
    Overall Rating
  • 2/24/13 by theball01
    Content Rating
    Overall Rating
  • 12/31/12 by schulmansm
    Content Rating
    Overall Rating
  • 12/31/12 by kyle.bisconer
    Content Rating
    Overall Rating
  • 12/23/12 by jwazny
    Content Rating
    Overall Rating
  • 12/22/12 by brandon.symonette
    Content Rating
    Overall Rating
  • 12/10/12 by leslehsprecker
    Content Rating
    Overall Rating
  • 12/6/12 by pnoll13
    Content Rating
    Overall Rating
  • 12/3/12 by Carter.m2302
    Content Rating
    Overall Rating
  • 11/30/12 by aankoop
    Awesome speed of earning three college credits!
    Overall Rating
    Content Rating
  • 11/26/12 by aankoop
    Awesome speed of earning three college credits!
    Content Rating
    Overall Rating
  • 11/11/12 by wrgentry
    Content Rating
    Overall Rating
  • 11/11/12 by wrgentry
    Content Rating
    Overall Rating
  • 11/8/12 by irish_jess
    Content Rating
    Overall Rating
  • 11/8/12 by irish_jess
    Content Rating
    Overall Rating
  • 10/12/12 by cjvzamory
    I liked all of it
    Overall Rating
    Content Rating
  • 10/2/12 by shane.c.leblanc
    I liked Blackboard, multiple choice, go at your own pace... etc...
    Overall Rating
    Content Rating
  • 9/2/12 by clasmaldonado
    I liked that I could go at my own pace.
    Overall Rating
    Content Rating
  • 8/20/12 by haldak
    I liked that it was self directed
    Overall Rating
    Content Rating
  • 8/15/12 by naeml8
    I liked that it was self- paced and for independent studies.
    Overall Rating
    Content Rating
  • 8/5/12 by a_rena_g
    I liked that the tests were only 25 questions
    Overall Rating
    Content Rating
  • 8/2/12 by cjvzamory
    I liked all of it
    Content Rating
    Overall Rating
  • 7/9/12 by shane.c.leblanc
    I liked Blackboard, multiple choice, go at your own pace... etc...
    Content Rating
    Overall Rating
  • 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
    Content Rating
  • 5/29/12 by early
    I liked the lessons because the reading was difficult but the lessons somewhat helped me understand better.
    Overall Rating
    Content Rating
  • 5/2/12 by powers.david14
    I liked the simplicity
    Overall Rating
    Content Rating
  • 4/30/12 by clasmaldonado
    I liked that I could go at my own pace.
    Content Rating
    Overall Rating
  • 3/31/12 by haldak
    I liked that it was self directed
    Content Rating
    Overall Rating
  • 3/17/12 by naeml8
    I liked that it was self- paced and for independent studies.
    Content Rating
    Overall Rating
  • 3/13/12 by figq
    I would have to say the reading assignments and grasping the information in a timely manner.
    Overall Rating
    Content Rating
  • 3/2/12 by a.e.lynn
    It was very interesting and engaging.
    Overall Rating
    Content Rating
  • 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
    Content Rating
  • 2/25/12 by mcvittiethomas
    No written assignments.
    Overall Rating
    Content Rating
  • 2/24/12 by a_rena_g
    I liked that the tests were only 25 questions
    Content Rating
    Overall Rating
  • 2/21/12 by tport144
    Overall, the course was great
    Overall Rating
    Content Rating
  • 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
    Overall Rating
  • 10/3/11 by axelpargas
     
    Overall Rating
    Content Rating
  • 10/2/11 by michaelbullock1
     
    Overall Rating
    Content Rating
  • 10/2/11 by amyartiga
     
    Overall Rating
    Content Rating
  • 10/1/11 by chrislane125
     
    Overall Rating
    Content Rating
  • 10/1/11 by damian.k.baker
     
    Overall Rating
    Content Rating
  • 10/1/11 by desantotony
     
    Overall Rating
    Content Rating
  • 9/30/11 by galvin42
     
    Overall Rating
    Content Rating
  • 9/30/11 by hcfromtheoc
     
    Overall Rating
    Content Rating
  • 9/29/11 by holly
     
    Overall Rating
    Content Rating
  • 9/29/11 by jenntalley69
     
    Overall Rating
    Content Rating
  • 9/28/11 by johnbettsva
     
    Overall Rating
    Content Rating
  • 9/28/11 by johwilson
     
    Overall Rating
    Content Rating
  • 9/28/11 by kylehausam
     
    Overall Rating
    Content Rating
  • 9/27/11 by marty80606
     
    Overall Rating
    Content Rating
  • 9/27/11 by mcvittiethomas
     
    Overall Rating
    Content Rating
  • 9/26/11 by mcvittiethomas
     
    Overall Rating
    Content Rating
  • 9/26/11 by merrill191962
     
    Overall Rating
    Content Rating
  • 9/25/11 by moe77oh
     
    Overall Rating
    Content Rating
  • 9/25/11 by oh2bluved
     
    Overall Rating
    Content Rating
  • 9/25/11 by oh2bluved
     
    Overall Rating
    Content Rating
  • 9/24/11 by samedu21
     
    Overall Rating
    Content Rating
  • 9/24/11 by smeredith65
     
    Overall Rating
    Content Rating
  • 9/23/11 by trevinsclark
     
    Overall Rating
    Content Rating
  • 9/16/11 by early
    I liked the lessons because the reading was difficult but the lessons somewhat helped me understand better.
    Content Rating
    Overall Rating
  • 7/15/11 by powers.david14
    I liked the simplicity
    Content Rating
    Overall Rating
  • 3/19/11 by figq
    I would have to say the reading assignments and grasping the information in a timely manner.
    Content Rating
    Overall Rating
  • 2/20/11 by a.e.lynn
    It was very interesting and engaging.
    Content Rating
    Overall Rating
  • 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
    Overall Rating
  • 2/7/11 by mcvittiethomas
    No written assignments.
    Content Rating
    Overall Rating
  • 1/27/11 by tport144
    Overall, the course was great
    Content Rating
    Overall Rating
  • 2/28/10 by axelpargas
    Content Rating
    Overall Rating
  • 2/27/10 by michaelbullock1
    Content Rating
    Overall Rating
  • 2/26/10 by amyartiga
    Content Rating
    Overall Rating
  • 2/25/10 by chrislane125
    Content Rating
    Overall Rating
  • 2/24/10 by damian.k.baker
    Content Rating
    Overall Rating
  • 2/23/10 by desantotony
    Content Rating
    Overall Rating
  • 2/22/10 by galvin42
    Content Rating
    Overall Rating
  • 2/21/10 by hcfromtheoc
    Content Rating
    Overall Rating
  • 2/20/10 by holly
    Content Rating
    Overall Rating
  • 2/19/10 by jenntalley69
    Content Rating
    Overall Rating
  • 2/18/10 by johnbettsva
    Content Rating
    Overall Rating
  • 2/17/10 by johwilson
    Content Rating
    Overall Rating
  • 2/16/10 by kylehausam
    Content Rating
    Overall Rating
  • 2/15/10 by marty80606
    Content Rating
    Overall Rating
  • 2/14/10 by mcvittiethomas
    Content Rating
    Overall Rating
  • 2/13/10 by mcvittiethomas
    Content Rating
    Overall Rating
  • 2/12/10 by merrill191962
    Content Rating
    Overall Rating
  • 2/11/10 by moe77oh
    Content Rating
    Overall Rating
  • 2/10/10 by oh2bluved
    Content Rating
    Overall Rating
  • 2/9/10 by oh2bluved
    Content Rating
    Overall Rating
  • 2/8/10 by samedu21
    Content Rating
    Overall Rating
  • 2/7/10 by smeredith65
    Content Rating
    Overall Rating
  • 2/6/10 by trevinsclark
    Content Rating
    Overall Rating
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 Banking
  • 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.

book cover

Understanding Business has long been The Gold Standard and preeminent teaching and learning experience ever created for Introduction to Business.Our experienced and diverse authors and long-tenured editorial team have by listening to you have created a product that meets the needs of nearly all classrooms no matter the size teaching modality or learning objectives. The content is unmatched in depth breadth currency and relevancy and is presented in an extremely readable format for students with all learning styles. A wealth of supporting technology engages students enriches learning furthers understanding and simplifies instructors’ assessment processes. Course supplements tightly align with chapter concepts and include strategies that enhance retention making instructors of all experience levels Grade-A rock stars. And unparalleled support from our digital faculty consultants helps ensure you and your students benefit from the full experience of what is now the gold standard in Introduction to Business classes.Nickels/McHugh/McHugh Understanding Business 12th Edition does more than teach—it creates students prepared to impact the world.

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 200
10
Graded Exam #3 125
13
Graded Exam #4 125
15 Final Graded Exam
300
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

Introduction to Business is a great course for students trying to figure out whether a career in business is right for them, employees looking to understand more about their companies and build their business acumen, and entrepreneurs planning to start businesses.

In our online Introduction to Business course you will study the concepts, principles and operations of private enterprise. You’ll compare and contrast sole proprietorships, partnerships, and corporations – and the advantages and disadvantages of each. You will explore the functions of modern business management, marketing, and ethics and social responsibility that can improve or tarnish a brand. You’ll also look at the human resource management side of running a business, and learn how employers can motivate their employees. Finally, you’ll address the numbers side of running a business and examine bookkeeping, accounting, financial management, and financial statements.

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

Introduction to Business   +$59.00
Proctoring   +$0.00
BUS101 eTextbook (a $38.90 value)   +$0.00

Subtotal

As low as: $59.00

plus subscription
Introduction to Business

Introduction to Business

$0.00

Your Courses

  • {{label}}:{{options}}
{{qty}} x {{name}}
{{qty}} x {{name}}
  •  
Plus Membership [?]
Also Purchased

Only registered users can write reviews. Please, log in or register