Intro to Business 101
Welcome
Intro to Business
• I‘m Paul Brennan
• Responsible Learner
• Class Goals
– Terms
– Functions of a business
– Create your own business
– Get a ―taste‖ for business
Syllabus
• INTRODUCTION TO BUSINESS
• BA 101
• Spring 2006
• ____________________________________________________________________
_____________
• Instructor: Paul Brennan, MBA Office: M/W 8 - 10
•
• Office: N/a Telephone: N/A
• Class Location: SBA 490 E-mail: PaulB@sba.pdx.edu
• ACCESSIBILITY STATEMENT: I can most easily be contacted before or after class.
I purposefully give breaks so you can speak with me one on one during class time if
needed. I also respond to email on a regular basis.
• CATALOG DESCRIPTION:
• Introduction to the business firm operating in the local, national, and global
marketplace. Emphasizes the integration of the various functional areas of business
as the firm evolves from its entrepreneurial origins to a mature corporation.
Syllabus
• LEARNING OBJECTIVES:
• The creation and organization of a business;
• Basic vocabulary and understanding of each functional area
within a business
– (marketing, finance, accounting, production, distribution, and
human resources);
• The relationship among these functional areas;
• Team building and small group development; and
• The global dimensions of business.
• REQUIRED READING : Introduction to Business by Jeff Madura
3rd Edition
• (South Western College Publishing,
2003)
Syllabus
• Class will start and end promptly at the scheduled times.
Class participants are responsible for all material
covered in the book and discussed or presented in class
either through lecture, video, activities or guest
speakers. Lectures will cover concepts presented in the
book and applications discussed in class.
• Class participants are expected to maintain a high level
of academic honesty and interaction. Cheating or
plagiarism will be dealt with severely. ACADEMIC
HONESTY IS A REQUIREMENT FOR PASSING THIS
COURSE.
Syllabus
• COURSE REQUIREMENTS :
• QUIZZES: A five point daily quiz will be given. The quiz will cover
each assigned chapter for class on that day. There will be NO
MAKE UP QUIZZES
• EXTRA CREDIT: Extra credit is intended to ―smooth the bumps in
the road of life‖. You may have group problems, attendance issues,
or test anxiety. I would highly recommend taking advantage of the
EC opportunity. You can earn an additional five points extra credit
for attending a SBA student organization meeting
(www.sba..pdx.edu/resources/organizations/). You can also earn an
extra five points for having PERFECT CLASS ATTENDANCE…..
Perfect (not late, no absences …regardless of ―excused –edness‖)
attendance. I will also offer papers which can be written for 5 points
extra credit, ask me.
Syllabus
• EXAMS: Three exams will each cover 1/3 of the course material
(required reading, lecture material, activities, videos, speakers and
handouts). Each test will be multiple choice and worth up to 50
points (NON COMPREHENSIVE).
• TEAM BUSINESS PLAN : Each student will be assigned to teams
of approximately six people. Each group will be responsible for
preparation of a business plan (outlined on ―Business Plan Project‖
handout). The plan will be graded in total (100 points) and in rough
draft sections (10 points) approximately every two weeks. The
business plan will integrate the chapters covered in our text and is
designed to give students a ―hands on‖ experience with business
development.
Syllabus
• TEAM PRESENTATION: Group will present a brief
overview of their plan – (5-7 minute) investor PITCH to
the class (10 points). The class will determine whether
or not to ―fund ― the business (10 points). Presentations
will be our ―final exam‖.
• TEAM PARTICIPATION : During each class session
teams will meet to discuss their business plan, cases,
and discussion activities. Team members will submit
evaluations with each draft and with the completed
business plan. These evaluations will be averaged for a
total of up to 40 points.
Syllabus
• GRADING :
• Quizzes 65 PTS.
• Rough Drafts (10 Pts Each) 30 PTS
• Business Plan (Final Draft) 100 PTS
• Group Evals 40 PTS
• Exams (50 Pts Each) 150 PTS
• Presentation 20 PTS
• TOTAL POSSIBLE POINTS: 405 PTS
Syllabus
• Grading will be based on straight percentage of
points (90% A, 80% B, 70% C, 60% D and F for
below), +‘s and -‗s also will be reflective of point
percentage (87%+= B+, 83%+=B, 80%+=B-
etc.). If you choose to discontinue attending
class, you must formally drop or (as per
University policy) you will receive the grade
reflected by your point total.
• Thanks for taking the class, please ask me
for further information as needed.
• I am looking forward to spending the term
learning with you!
Today - Learning Goals
• Define a business
• Identify key business stakeholders.
• Describe key business functions.
• Explain how to develop a business plan.
Business Defined
A business is an enterprise that provides
products or services desired by
customers.
Key Business Decisions
• Product
– What type of product should be produced?
• Production
– How should the product be produced?
• Promotion
– How should the product be promoted?
• Financing
– How should the company obtain funds to
finance the cost of producing the product?
Business Decisions
Key Stakeholders
• Owners
– Entrepreneurs
– Co-owners
– Stockholders
• Creditors
• Employees
– Managers
• Suppliers
• Customers
Creating a Business Idea
• Identify a competitive advantage.
• Differentiate the product or service from
competitors.
• Determine necessary resources.
• Assess feasibility of the idea.
e-business
e-business
business online
Success Stories
• Domino‘s Pizza
– Managhans bought bankrupt pizza parlor
– Started with little funding
– Now generates sales of $1 billion per year
• Jeremy‘s Micro Batch Ice Cream
– Applied microbrewery concept to ice cream
– Makes ice cream in small batches, sold in limited
editions
• Glow Dog, Inc.
– Sells light-reflective clothing for pets
– After two years, average annual sales of $1 million
Lessons to Remember
• Successful businesses do not require a
great invention.
– Many focus on making life more convenient
for customers.
• Some business ideas will fail—but
entrepreneurs can learn from failures and
make revisions.
Key Functions of Business
• Management
– Means by which employees and other resources are
used by the firm
• Marketing
– Means by which products and services are
developed, priced, distributed, and promoted to
customers
• Finance
– Means by which firms obtain and use funds for their
business operations
Key Functions of Business
• Accounting
– Summary and analysis of the firm‘s financial
condition
– Used to make various business decisions
• Information systems
– Information technology, people, and
procedures that provide appropriate
information to make effective decisions
How Business Decisions
Affect a Firm’s Earnings
Exhibit 1.4
Developing a Business Plan
• Assess the Business Environment
– Economic environment
– Industry environment
– Global environment
• Develop Management Plan
– Organizational Structure
– Production
– Human Resources
Developing a Business Plan
• Marketing Plan
– Target Market
– Product Characteristics
– Pricing
– Distribution
– Promotion
• Financial Plan
– Financing
– Feasibility
Online Resources
• Advice and basic information
– Yahoo‘s Small Business site
– American Express
– Small Business Administration
• Financing Options
– Quicken Small Business
– Garage.com
– The Elevator
• Business Planning Software
Assessing a Business Plan
• Potential revenue
• Potential demand for product or service
• Potential expenses
• Profit potential
Assignment
• Read Chapters 1 and 2
• Complete the In-Text Study Guide for both
chapters