Total Hours: 135
Course Description
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.
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.
