a definition for business ethics

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Check if                          BUS 106 (GF), BUS 105 (H), and BUS 100 (N)                                   Time
Covered                               Tech Prep Competency Check List                                          Spent



Business and Economics
           Define and compare basic economic concepts such as business, product, supply and
           demand, basic types of economic systems, competition, and profit, and explain why
           studying business is important.
           Describe the role of supply, demand, and competition in a free-enterprise system.

The Legal and Regulatory Environment
           Identify the sources of law.
           Summarize the court system and the methods of conflict resolution and gain an appreciation
           of the framework for regulating business through administrative agencies.
           Review important elements of business law, including the Uniform Commercial Code, law
           of torts and fraud, law of contracts, law of agency, law of property, and the law of bankruptcy.
           Examine laws regulating competition and review the legal and regulatory implications of
           business on the Internet.

Business Ethics and Social Responsibility
           Define business ethics and social responsibility and examine their importance.
           Specify how businesses can promote ethical behavior.

International Business
           Investigate economic, legal-political, social, cultural, and technological barriers to
           international business.
           Specify agreements, alliances, and organizations that may encourage trade across
           international boundaries.

Forms of Organization
           Define and examine the advantages and disadvantages of the sole proprietorship,
           partnership, and corporate forms of organization.
           Define and debate the advantages and disadvantages of mergers, acquisitions, and
           leveraged buyouts.

Small Business and Entrepreneurship.
           Define entrepreneurship and small business
           Describe start-up procedures, required resources, and the advantages and disadvantages
           of starting a small business.
           Discuss the various elements of a business plan.




Introduction to Business – 3 credits (MSUGF COT)                          Page 1 of 3               November 23, 2004
Introduction to Business - 3 credits (UM HCT)
Introduction to Business – 3 credits (MSUN)
Management and Decision Making
            Define management, its levels and functions, and explain its role in the achievement of
            organizational objectives.
            Specify the skills managers need in order to be successful.

Organization, Teamwork, and Communication
            Define organizational structure and relate how organizational structures develop.

            Describe how specialization and departmentalization help (or hinder) an organization in
            the achievement of its goals.

            Distinguish between groups and teams, and identify the types of groups that exist in
            organizations. Practice working as a member of a group or team.

            Describe how communication occurs in organizations.

Production and Operations Management
            Define operations management and differentiate between operations and manufacturing.
            Specify some techniques managers may use to manage the logistics of transforming inputs
            into finished products and assess the importance of quality in operations management.

Managing Human Resources
            Define human relations and human resource management; explain the significance of each.
            Investigate various theories of motivation (including Theory(s) X, Y, Z; equity; expectancy),
            early studies (scientific management; Hawthorne studies), and human-relations theories.
            (Maslow; Herzberg)
            Define human resources management and its components of recruitment, selection,
            compensation, training, and performance appraisal.
            Describe the importance of diversity in the work force.

Marketing
            Define marketing and describe the exchange process.
            Explain the marketing concept and its implications for developing marketing strategies and
            factors in that development, including market segmentation and marketing mix.
            Investigate how marketers conduct market research and study buying behavior.
            Describe the role of product in the marketing mix, including how products are developed,
            classified, and identified and define price and discuss its importance in the marketing mix,
            including various pricing strategies a firm might employ and summarize the environmental
            forces that influence marketing decisions.
            Identify factors affecting distribution decisions, such as marketing channels and intensity
            of market coverage.
            Specify the activities involved in promotion, as well as promotional strategies and
            promotional positioning.




Introduction to Business – 3 credits (MSUGF COT)                          Page 2 of 3             November 23, 2004
Introduction to Business - 3 credits (UM HCT)
Introduction to Business – 3 credits (MSUN)
Accounting and Financial Management

           Define accounting, the accounting equation, debit/credit, asset (current and long-term, liability
           (current and long-term) and equity, and describe the different uses of accounting information.
           Demonstrate the accounting process.
           Decipher the various components of an income statement in order to evaluate a firm's
           "bottom line."
           Interpret a company's balance sheet to determine its current financial position.
           Analyze financial statements, using ratio analysis, to evaluate a company's performance.
           Define money, its functions, and its characteristics.
           Specify how the Federal Reserve Board manages the money supply and regulates the
           American banking system.
           Compare and contrast commercial banks, savings and loan associations, credit unions, and
           mutual savings banks.
           Distinguish among nonbanking institutions such as insurance companies, pension funds,
           mutual funds, and finance companies.
           Identify sources of short-term financing (current liabilities), and long-term financing.
           Summarize the importance of long-term assets and capital budgeting.
           Specify how companies finance their operations and manage fixed assets with long-term
           liabilities, particularly bonds.
           Describe the various securities markets in the United States.




Introduction to Business – 3 credits (MSUGF COT)                          Page 3 of 3                 November 23, 2004
Introduction to Business - 3 credits (UM HCT)
Introduction to Business – 3 credits (MSUN)

				
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