Principles of Business
Course Information and Outline
Principles of Business is a comprehensive introductory business course that provides students the foundation for key business concepts and skills identified by business leaders as the building blocks necessary in today’s business environment. This course helps students learn business terminology and provides the groundwork into the study of economics, business ownership and management. The course also covers marketing, business technology, financial management, production/operations and risk management. The course concludes with personal financial management touching on consumerism, money management, savings and investment strategies, and insurance. Upon the completion of this entry level course students will be prepared to complete the sequence of studies which includes Business Management. The course Principles of Business is a prerequisite for the Business Management course.
Course Proficiencies
1. Describe economic decisions and systems, economic activity, and interdependency of the global
economies.
2. Explain social responsibilities of business and government.
3. Identify types of business organizations, entrepreneurship, and small business management.
4. List the activities of human resources.
5. Describe the steps in the career planning process.
6. Identify marketing basics, and developing effective products and services.
7. Describe the components of Management information systems, and the importance of e‐commerce.
8. List and describe the steps of creating a budget, describe the different types of budget, and financial
statements.
9. Explain the forms and the activities involved in production
10. Identify types of risks in business risks, and the insurable and uninsurable risks.
11. Identify consumer buying decisions, consumer rights and responsibilities, and consumer protection.
12. Explain money management and financial planning, including budgeting techniques.
13. List banks/financial institutions, and their services.
14. Identify business credit fundamentals, cost of credit, and protection of credit rights.
15. List and describe the different types of business insurances
Course Learning Descriptions
Unit 1 – Business in the Global Economic Environment
Economic Decision and Systems
Needs and Wants
Economic Choices
Economic Systems
Supply and Demand
Economic Activity
Measuring Economic Activity
Economic Conditions Change
Measuring Business Activity
Business in the Global Economy
International Business Basics
Global Marketplace
International Business Organizations
Social Responsibility of Business and Government
Business Ethics
Government Protection
Government Regulation
Unit 2 – Business Organization and Management
Business Organization
Business in the US Economy
Forms of Business Ownership
Organizational Structure for Business
Small Business Management
Becoming an Entrepreneur
Small Business Basics
Starting a Small Business
Management and Leadership
Management Functions and Styles
Leadership
Ethical Management
Human Resources, Culture, and Diversity
Human Resources Basics
Managing Human Resources
Organizational Culture and Workforce Diversity
Career Planning and Development
Career Opportunities
Planning Your Career
Unit 3 – Business Operations and Technology
Marketing
Marketing Basics
Develop Effective Products and Services
Price and Distribute Products
Plan Promotion
Business and Technology
Computer Systems
Business Applications of Technology
Financial Management
Financial Planning
Financial Records and Statements
Payroll Management
Production and Business Operations
Types of Production
Production Planning
Managing Business Operations
Risk Management