Introduction to Business
Students are introduced to basic management principles and the functional areas of business. Topics include the business environment; important business trends; forms of business ownership and the importance of entrepreneurship; different business functions including marketing, accounting, finance, human resources, and technology, information systems and the basic functions of management including planning, organizing, leadership, and control.
Recommended: English 12/English 12 First Peoples with a minimum of 73% (with the government exam within the last 5 years); or level 5 on the compositions section of the Language Proficiency Index (LPI), with all other categories of the LPI at a minimum of 70% (within the last 2 years); or satisfactory completion of the TRU English Assessment (ACCUPLACER) at the university entrance level; or completion of ENGL 0600 with a grade of C+ or better; or completion of ESAL 0570 and ESAL 0580 with a grade of C+ or better.
- Describe the world of business.
- Recognize some of the trends that are part of the political environment.
- Discuss the three levels of government in Canada and their involvement in Canadian business.
- Illustrate how microeconomic concepts of demand and supply influence prices.
- Describe how macroeconomic policies influence business.
- Describe international business trends and issues in relationship to the company you are considering for your major project.
- Recognize the spectrum of social and ethical values and their impact on business.
- Recognize issues in developing an e-business and e-commerce strategy.
- Develop a PESTI analysis for your final project.
- Use the SWOT analysis to identify the strengths, weaknesses, opportunities, and threats of a company's product/service, market, and industry.
- Identify how the Internet can help your business achieve a competitive edge with its customer service functions and more.
- Evaluate the various business organization forms and the pros and cons of each in relation to your business idea.
- Inventory your skills, strengths, and weaknesses as a small-business owner.
- Analyze your business idea, using a SWOT analysis and Porter's forces.
- Review the CSFs that contribute to a successful and sustainable company.
- Understand various strategies that drive a company toward achieving its vision and mission.
- Determine the basics of the financial health of a company.
- Recognize the various considerations required for business start-ups.
- Detail the various laws, regulations, and licences that pertain to your business idea.
- Appraise your managerial strengths and weaknesses.
- Develop an organizational structure for your proposed business.
- Demonstrate your planning skills by describing the three levels of planning and formulating a contingency plan for your proposed business.
- Discuss various techniques used to motivate employees.
- Determine the human resources needs of your business.
- Determine a target market for your proposed business.
- Identify the five basic forms of market segmentation.
- Develop an overall marketing strategy for your proposed business, encompassing the 4Ps of marketing.
- Understand basic buyer behaviour.
- Understand how to use marketing research to better serve existing customers and find new ones.
- Identify the key production and operational requirements for your business.
- Explain what is meant by accounting and show an understanding of the profession.
- Understand the meaning of a balance sheet and an income statement.
- Understand ratios and explain how ratios can be used to identify financial strengths and weaknesses.
- Prepare a Start-Up Budget and Cash-Flow sheet for your small business.
- Suggest the types of office software you may need for your company.
- Understand the basic characteristics of money and its functions.
- Identify the role of Canadian banks and credit unions in our financial system.
- Module 1: The Business Environment
- Module 2: Building a Canadian Business
- Module 3: Business Management
- Module 4: Functional Areas of Business (Part 1)
- Module 5: Functional Areas of Business (Part 2)
Required Text and Materials
Althouse, N., Allan, L., and Hartt, C. (2017) The future of business includes Mindtap.
(5th ed.). ON: Nelson Education.
Textbook ISBN- 978-0-17-657025-5
Computer with Internet Access is required.
Open Learning Faculty Member
An Open Learning Faculty Member is available to assist students. Primary communication is through Learning Environment’s “Mail” tool or by phone. Students will receive the necessary contact information when starting the course.
To successfully complete the course, students must achieve a passing grade of 50% or higher on the overall course, and 50% or higher on the final mandatory project.
|Assignment 1 - Trends and the Business Environment||10%|
|Assignment 2 - Building a Canadian Business||10%|
|Assignment 3 – Building Management Processes||10%|
|Assignment 4 - Functional Areas of Business Part 1: Human Resources and Labour Relations, Marketing, and World-Class Distribution (Part 1)||10%|
|Assignment 5 - Assignment 5: Functional Areas of Business Part 2: Accounting, Money and Finance (Part 2)||10%|
|Final Project *||50%|