REASONS FOR PROPOSED ACTION
The Logistics, Business and Public Policy Department of the Robert H. Smith School of Business is requesting a change to
the General Business curriculum to replace a course that is no longer being offered in the standard track, and to replace a
course in the Entrepreneurship Track with a new course that is more relevant and avoids redundancy with the rest of the
curriculum. See full details below.
DESCRIPTION OF CURRICULUM CHANGE
First, the old requirements of the Standard Track of the General Business major listed BMGT305 Survey of Business
Information Systems and Technology as an option for the major (highlighted in blue below); however, this course is no
longer being offered. As a result, the major is replacing this course with BMGT485 Project Management, which provides a
relevant option for General Business majors (highlighted in blue below).
Second, the old requirements of the Entrepreneurship Track of the General Business major requires students to complete
BMGT366 Growth Strategies for Emerging Companies (highlighted in blue below). However, the material in this course is
redundant to other courses completed in this track. As a result, a new course BMGT363 Leadership in Organizations
(highlighted in blue below) will be required in this track instead of BMGT366 (VPAC form for BMGT363 has been
submitted for approval). This new course introduces students to an important topic for aspiring entrepreneurs and will help
with their development as future leaders. BMGT363 has been successfully offered as a special topics course in Fall 2007 and
Spring 2008.
Finally, a note is being added to the Economics requirement indicating that ECON325 Intermediate Macroeconomic Analysis
and ECON326 Intermediate Microeconomic Analysis can substitute for ECON305 and ECON306
Old Requirements
The following are required of all General Business majors:
One of the following (supply chain management):
3 cr
BMGT 372 Introduction to Logistics and Supply Chain Mgmt
BMGT 385 Operations Management
One of the following (marketing):
BMGT 353 Retail Management
BMGT 450 Integrated Marketing Communications
3 cr
One of the following (international business/public policy):
BMGT 392 Introduction to International Business
BMGT 482 Business and Government
BMGT 496 Business, Ethics and Society
3 cr
In addition, General Business majors must complete one of following tracks.
Standard Track
One of the following (accounting/finance):
BMGT 321 Managerial Accounting
BMGT 440 Financial Management
One of the following (management and organization):
BMGT 360 Human Resource Management
BMGT 461 Entrepreneurship
3 cr
3 cr
One of the following (decision and information technologies):
3 cr
BMGT 305 Survey of Business Information Systems
and Technology
BMGT 332 Operations Research for Management Decisions
OR
Entrepreneurship Track
One of the following:
BMGT 361 Entrepreneurship: Starting and Managing the
Entrepreneurial Venture
BMGT 461 Entrepreneurship
BMGT 365 Entrepreneurial Finance & Private Equity
BMGT 366 Growth Strategies for Emerging Companies
BMGT 465 Business Plan For The New Venture
3 cr
3 cr
3 cr
Total Major Requirements
18/21 cr
Upper Level Economics Requirements
Two of the following courses:
ECON 305 Intermediate Macroeconomic Theory & Policy
ECON 306 Intermediate Microeconomic Theory
ECON 330 Money and Banking
ECON 340 International Economics
Total Economics Requirement
3 cr
6 cr (same for both tracks, no change)
6 cr
New Requirements
The following are required of all General Business majors:
One of the following (supply chain management):
3 cr
BMGT 372 Introduction to Logistics and Supply Chain Mgmt
BMGT 385 Operations Management
One of the following (marketing):
BMGT 353 Retail Management
BMGT 450 Integrated Marketing Communications
3 cr
One of the following (international business/public policy):
BMGT 392 Introduction to International Business
BMGT 482 Business and Government
BMGT 496 Business, Ethics and Society
3 cr
In addition, General Business majors must complete one of following tracks.
Standard Track
One of the following (accounting/finance):
BMGT 321 Managerial Accounting
BMGT 440 Financial Management
One of the following (management and organization):
BMGT 360 Human Resource Management
BMGT 461 Entrepreneurship
3 cr
3 cr
One of the following (decision and information technologies):
3 cr
BMGT 332 Operations Research for Management Decisions
BMGT 485 Project Management
OR
Entrepreneurship Track
One of the following:
BMGT 361 Entrepreneurship: Starting and Managing the
Entrepreneurial Venture
BMGT 461 Entrepreneurship
BMGT 363 Leadership in Organizations
BMGT 365 Entrepreneurial Finance & Private Equity
BMGT 465 Business Plan For The New Venture
3 cr
3 cr
3 cr
Total Major Requirements
18/21 cr
3 cr
Upper Level Economics Requirements
Two of the following courses:
6 cr (same for both tracks, no change)
ECON 305 Intermediate Macroeconomic Theory & Policy
ECON 306 Intermediate Microeconomic Theory
ECON 330 Money and Banking
ECON 340 International Economics
Note: Students who have completed ECON 325 and ECON326 can substitute these courses for ECON305 and
ECON306 respectively.
Total Economics Requirement
6 cr
Additional Degree Requirements of the General Business Major
At the Smith School of Business, a minimum of 120 credit hours is required to complete a Bachelor of Science degree.
Besides the major requirements list above and the specific Smith School of Business requirements listed below, a student
must complete the University's CORE General Education Requirements and sufficient lower and upper level elective credit to
accumulate a total of 120 credit hours. A minimum of 58 credit hours of the required 120 hours must be in 300-400 (upper)
level courses. A detailed explanation including additional Smith School of Business degree requirements are listed below.
Freshmen/Sophomore Smith School Requirements
MATH 220 or 140 - Elem.Calculus I or Calculus I
BMGT 220 & 221 - Principles of Accounting I & II
BMGT 230 or 231 - Business Statistics
ECON 200 & 201 - Principles of Micro & Macro Economics
COMM 100, 107 or 200 - Foundations of Speech Communications,
Speech Communication, or Critical Thinking and Speaking
Total
3-4 cr
6 cr
3 cr
8 cr
3 cr
23-24 cr
Junior/Senior Smith School Requirements
BMGT 301 - Introduction to Information Systems
BMGT 340 - Business Finance
BMGT 350 - Marketing Principles
BMGT 364 - Management and Organization
BMGT 367 - Career Search Strategies and Business
BMGT 380 - Business Law
BMGT 495 - Business Policies
Total
3 cr
3 cr
3 cr
3 cr
1 cr
3 cr
3 cr
19 cr
General Business Major Requirements (details listed previously)
18-21 cr
Upper Level Economics Requirements (details listed previously)
6 cr
University CORE General Education Requirements not fulfilled by
Smith School requirements listed above. - Total Credits
28 cr
Lower Level Electives
16-17 cr
Upper Level Electives
6-9 cr
Grand Total Required
120 cr
Current Catalog Description
General Business is designed for those who desire a broad course of study in business and management. This degree is
appropriate, for example, for those who plan to enter small-business management or entrepreneurship where general
knowledge of the various fields of study may be preferred to a more specialized curriculum concentration.
Two tracks are offered. In addition to a standard track, students admitted into the Smith School’s Entrepreneurship Fellows
Program can follow an entrepreneurship track within the General Business major.
Updated Catalog Description
No change.
Typical 4 Year Plan – Standard Track
Year 1, First Term
Courses
ENGL101 (if not exempt) or elective
MATH 220 (or as placed)
ECON200
CORE class
Lower level elective
Year 1, Second Term
Credits
3
3
4
3
3
16
Year 2, First Term
Courses
BMGT220
BMGT230 (if still needed) or elective
Lower level elective
Lower level elective
CORE (Lab Science)
Credits
3
3
2
3
4
15
Courses
BMGT221
CORE
Remaining electives
CORE
Credits
3
3
6
3
15
Year 3, Second Term
Credits
3
3
3
3
3
1
16
Year 4, First Term
Courses
Major requirement (BMGT 332 or 485)
Major requirement (BMGT 392, 482 or 496)
Upper level ECON (from list)
Professional Writing
Upper level elective (2 of 3)
Credits
4
3
3
3
3
16
Year 2, Second Term
Year 3, First Term
Courses
Major requirement (BMGT 372 or 385)
College Core – BMGT 340
College Core – BMGT 350
College Core – BMGT 301
Upper level ECON (from list)
BMGT367 (College Core)
Courses
ECON201
MATH220 (if still needed) or BMGT230
COMM107 or 200
CORE
CORE
Courses
College Core – BMGT 364
Major requirement (BMGT 360 or 461)
College Core – BMGT 380
Advanced Studies CORE
Upper level elective (1 of 3)
BMGT367 (if still needed)
Credits
3
3
3
3
3
1
15-16
Year 4, Second Term
Credits
3
3
3
3
3
15
Courses
College Core - BMGT495 (340/350/364 prereqs)
Major requirement (BMGT 321 or 440)
Major requirement (BMGT 353 or 450)
Upper level elective (3 of 3)
Credits
3
3
3
3
12
Typical 4 Year Plan – Entrepreneurship Track
Year 1, First Term
Courses
ENGL101 (if not exempt) or elective
MATH 220 (or as placed)
ECON200
CORE class
Lower level elective
Year 1, Second Term
Credits
3
3
4
3
3
16
Year 2, First Term
Courses
BMGT220
BMGT230 (if still needed) or elective
Lower level elective
Lower level elective
CORE (Lab Science)
Credits
3
3
2
3
4
15
Courses
BMGT221
CORE
Remaining electives
CORE
Credits
3
3
6
3
15
Year 3, Second Term
Credits
3
3
3
3
3
1
16
Year 4, First Term
Courses
Major requirement (BMGT 465)
Major requirement (BMGT 392, 482 or 496)
Upper level ECON (from list)
Professional Writing
Upper level elective (1 of 2)
Credits
4
3
3
3
3
16
Year 2, Second Term
Year 3, First Term
Courses
Major requirement (BMGT 361 or 461)
College Core – BMGT 340
College Core – BMGT 350
College Core – BMGT 301
Upper level ECON (from list)
BMGT367 (College Core)
Courses
ECON201
MATH220 (if still needed) or BMGT230
COMM107 or 200
CORE
CORE
Courses
College Core – BMGT 364
Major requirement (BMGT 365)
College Core – BMGT 380
Advanced Studies CORE
Major requirement (BMGT 372 or 385)
BMGT367 (if still needed)
Credits
3
3
3
3
3
1
15-16
Year 4, Second Term
Credits
3
3
3
3
3
15
Courses
College Core - BMGT495 (340/350/364 prereqs)
Major requirement (BMGT 363)
Major requirement (BMGT 353 or 450)
Upper level elective (2 of 2)
Credits
3
3
3
3
12
Major/Economic Requirements: Prerequiste/Course Sequencing Structure Junior/Senior Year
- All requirements of the General Business major have short prerequisite sequence so they can easily be completed over the
junior/senior years
Standard Track
BMGT 360 or 461 (461 is restricted to students with 72 credit hours completed.)
BMGT 372 or BMGT385
BMGT 392 (prereq: ECON 200 or 205), BMGT 482 (prereq: ECON 200 or 205) or BMGT496 (prereq: one course in
BMGT)
BMGT 353 or BMGT 450 (both have prereq: BMGT350)
BMGT 332 (prereq: BMGT230) or BMGT 485 (prereq: BMGT230 or BMGT231)
BMGT 321 (prereq: BMGT 221) or BMGT 440 (prereq: BMGT 340)
Upper Level ECONs (prereq: ECON200 & 201,
some options also require MATH 220/140)
Entrepreneurship Track
BMGT 361 or 461 (461 is restricted to students with 72 credit hours completed.)
BMGT 363
BMGT 365 (prereq: BMGT 361 or 461)
BMGT 465 (prereq: BMGT 361 or 461)
BMGT 372 or BMGT385
BMGT 392 (prereq: ECON 200 or 205), BMGT 482 (prereq: ECON 200 or 205) or BMGT496 (prereq: one course in
BMGT)
BMGT 353 or BMGT 450 (both have prereq: BMGT350)
Upper Level ECONs (prereq: ECON200 & 201,
some options also require MATH 220/140)
Course Descriptions
BMGT 305 Survey of Business Information Systems and Technology (3) Introductory course for the decision and
information science major. Covers the components of modern business information systems as well as the consequences of
information technology on society and the environment.
BMGT 321 Managerial Accounting (3) Prerequisite: BMGT 221. A study of the basic concepts of product costing and cost
analysis for management planning and control. Emphasis is placed on the role of the accountant in organizational
management, analysis of cost behavior, standard cost budgeting, responsibility accounting and relevant costs for decisionmaking.
BMGT 332 Operations Research For Management Decisions (3) Prerequisite: BMGT 230. Surveys the philosophy,
techniques and applications of operations research to managerial decision-making. Techniques covered include: linear
programming, transportation and assignment models, Markov processes and inventory and queuing models. Emphasis is
placed on formulating and solving decision problems in the functional areas of management.
BMGT 353 Retail Management (3) Prerequisites: BMGT 220; and BMGT 350. Planning and implementing retail
marketing strategy. Store and nonstore (catalog, Internet) retailing. Evaluation of how environmental trends in the consumer
market, competition, the economy and technology affect retail strategy in the U.S. and global market.
BMGT 360 Human Resource Management (3) The basic course in human resource management includes manpower
planning, recruitment, selection, development, compensation, and appraisal of employees. Explores the impact of scientific
management and unionism on these functions.
BMGT 361 Entrepreneurship: Starting and Managing the Entrepreneurial Venture(3) Formerly BMGT261. Not open
to students who have completed BMGT261 or 461. Credit will be granted for only one of the following: BMGT261, 361 or
BMGT461. Focuses on the early development of a new venture. Topics include: idea-getting, opportunity recognition,
feasibility studies, new venture financing and startup. Guest speakers and practicing entrepreneurs offer real world guidance.
Restricted to students admitted into the Entrepreneurship Fellows program.
BMGT 363 Leadership in Organizations (3) Provides a comprehensive understanding of fundamental leadership concepts,
theories, and skills in organizations and applies it to assessing and developing effective leadership practices in organizations.
BMGT 365 Entrepreneurial Finance and Private Equity (3) Prerequisite BMGT 361 or 461; Studies venture capital and
private equity using a combination of cases, lectures and guest speakers. Addresses how venture capitalists provide capital to
start-up firms in growing industries and how private equity markets provide capital to help established medium-sized firms
(often family businesses) grow and restructure. Focuses on how financial, legal, and economic issues are dealt with in the
financial contracts between venture capitalists and their limited partners and between venture capitalists (or other private
equity investors) and the firms in which they invest.
BMGT 366 Growth Strategies for Emerging Companies (3) Prerequisite BMGT361 or 461; Offers practical management
tools that are needed to build a new venture into a significant enterprise. The competencies, strategies and structures of
successful high performance businesses are studied through cases, videos and guest lecturers. Topics include leadership,
internal growth strategies, merger, acquisition and franchising.
BMGT 372 Introduction to Logistics and Supply Chain Management (3) The study of logistics and supply chain
management involving the movement and storage of supplies, work-in-progress and finished goods. Logistics cost trade-offs
with the firm and between members of the supply chain are examined.
BMGT 385 Operations Management (3) Studies the design, management and improvement of a firm's processes and
systems for creation and delivery of products and services. Includes strategic and operational views of supply chain, product
development, and capacity analysis, highlighting the competitive advantages that operations management can provide the
firm.
BMGT 392 Introduction to International Business Management (3) Prerequisite: ECON 200; or ECON 205. A study of
the domestic and foreign environmental factors affecting the international operations of U.S. business firms. The course also
covers the administrative aspects of international marketing, finance and management.
BMGT 440 Financial Management (3) Prerequisite: BMGT 340. Analysis and discussion of cases and readings relating to
financial decisions of the firm. The application of finance concepts to the solution of financial problems is emphasized.
BMGT 450 Integrated Marketing Communications (3) Prerequisite: BMGT 350. For BMGT majors only. Credit will be
granted for only one of the following: BMGT 354 or BMGT 450. Formerly BMGT 354. In-depth study of coordinated
marketing activities including advertising, sales promotion, Internet marketing, direct marketing and personal selling.
Emphasizes strategic planning to effectively use these promotional tools to communicate with customers and meet marketing
goals. Blends theory and current practice to provide managerial orientation.
BMGT 461 Entrepreneurship (3) Not open to students who have completed BMGT261 or 361. Credit will be granted for
only one of the following: BMGT261, 361 or BMGT461. Process of creating new ventures, including evaluating the
entrepreneurial team, the opportunity and the financing requirements. Skills, concepts, mental attitudes and knowledge
relevant for starting a new business.
BMGT 465 Business Plan For The New Venture (3) Prerequisite BMGT 361 or 461; Each student focuses on the
production of a business plan that will be accepted for an annual business plan competition. Business plans of sufficient
quality may be submitted to attract financing. Topics include a deep review of business plan construction and its derivative
short forms.
BMGT 482 Business and Government (3) Prerequisite: ECON 200; or ECON 205. Focus is on the complex
interrelationships between business and government. Explores areas in which business and government are allies
(cooperative research and financing program) and adversaries (regulation). Emphasizes a strategic management approach by
business to government involvement in economic affairs.
BMGT 485 Project Management (3) Prerequisite: BMGT230 or BMGT231; or equivalent. For BMGT majors only.
Modern project management techniques that are used by modern practicing professionals will be covered. Particular attention
is given to the management of technology based systems and projects in a business enterprise. The topics covered include:
defining project scope, alignment of projects with enterprise strategy, managing project cost, time and risks using tools such
as CPM/PERT, and measuring project performance.
BMGT 496 Business Ethics and Society (3) Prerequisite: one course in BMGT; or permission of department. A study of the
standards of business conduct, morals, values, and the role of business in society, with consideration of the sometimes
conflicting interests of and claims on the firm and its objectives. Emphasizes a strategic approach by business to the
management of its external environment.
ECON 305 Intermediate Macroeconomic Theory and Policy (3) Prerequisites: ECON 200; and ECON 201; and MATH
220. Analysis of the determination of national income, employment, and price levels. Discussion of consumption,
investment, inflation, and government fiscal and monetary policy.
ECON 306 Intermediate Microeconomic Theory (3) Prerequisites: ECON 200; and ECON 201; and MATH 220. Analysis
of the theories of consumer behavior and of th firm, market systems, distribution theory and the rol of externalities.
ECON330 Money and Banking (3) Prerequisite: ECON200 and ECON201. Credit will be granted for only one of the
following: ECON330 or ECON430. Formerly ECON 430. The structure of financial institutions and their role in the
provision of money and near money. Analysis of the Federal Reserve System, the techniques of central banks, and the control
of supply of financial assets in stabilization policy. Relationship of money and credit to economic activity and the price level.
ECON 340 International Economics (3) Prerequisite: ECON 200 and ECON 201. Credit will be granted for only one of the
following: ECON 340 or ECON 440. Formerly ECON 440. A description of international trade and the analysis of
international transactions, exchange rates, and balance of payments. Analysis of policies of protection, devaluation, and
exchange rate stabilization and their consequences.
Learning Outcome Plan
General Business
(PROGRAM OF STUDY / MAJOR / DEGREE LEVEL, ETC.)
For Time Period:
3 Year Cycle Beginning Spring 2006
Program Contact:
Martin Dresner
Date submitted to Academic Unit Head:
Phone:
ext. 5-2204
E-mail:
mdresner@rhsmith.umd.edu
September 2, 2005
Student Learning Outcomes
Assessment Criteria and Results
Impact of Results
Criteria: All General Business (GB) students
registered in BMGT 495, Business Policies (the
capstone course for business students) during the
semester in which assessments occur, are required
to take a two-part test. Part 1 tests their
knowledge of core business disciplines while Part
2 tests their knowledge of logistics, transportation,
and supply chain management. Seventy percent of
students should answer, correctly, 80 percent of
the questions in Part1 of the exam, and 70% of the
students should answer, correctly, 80% of the
questions in Part 2 of the exam.
Expected Impact: Re-evaluation of the
core business courses and the required
courses for GB majors to determine
how to strengthen the teaching of the
course content. Feedback will be
passed to course coordinators and
follow-up meetings arranged to assess
the implementation of teaching
changes.
(list only those assessed during this time period)
1. Students will be able to demonstrate a clear understanding of important
concepts in the core business disciplines and in the field of General
Business.
Results: TBA
2. Students will demonstrate critical reasoning and written communication
skills through the individual analysis and write-up of a business case.
Criteria: All GB students are required to analyze a
business case for BMGT 495 and prepare a written
analysis of the case. Eighty percent of students
should meet expectations (25 out of 35 available
points) in an assessment of their critical reasoning
and written communication skills. See attached
Critical Reasoning and Written Communication
grading rubric.
Expected Impact: Critical reasoning
and written communication skills are
developed through the evaluation and
write-up of business cases. In order to
improve performance, increase case
content in the GB curriculum and work
with professors on evaluating critical
reasoning and written communication
skills and providing feedback to
students.
Results: TBA
3. Students will demonstrate their oral communication skills by presenting
an analysis of a business case to their class.
4. Students will demonstrate their leadership skills by leading a class
discussion on a business case.
Criteria: All GB students are required to make a
presentation in BMGT 495 on a business case.
Eighty percent of students should meet
expectations in an assessment of their oral
presentation skills (18 out of 24 available points).
See attached Oral Communications grading rubric.
Results: TBA
Expected Impact: Students improve
their oral communication skills by
making presentations and obtaining
feedback on their presentations. In
order to improve performance, increase
the number of required presentations in
the GB curriculum and work with
professors on evaluating oral
communication skills and providing
feedback to the students.
Criteria: After first making a class presentation on
a business case, all GB students are required to
lead a class discussion based on the case and the
presentation. Eighty percent of students should
meet expectations (12 of 18 available points) in an
assessment of their skills in leading the class
discussion. See attached Leadership grading
rubric.
Expected Impact: Students improve
their leadership skills by practicing
leadership roles. In order to improve
performance, work with professors on
developing opportunities for students to
assume leadership roles, evaluating
leadership skills, and providing
feedback to the students.
Results: TBA
5. Students will demonstrate their abilities to work effectively with other
members of a team in the preparation of a group project.
All GB majors are required to participate in a the
completion of a group project as part of the
requirements for BMGT 495. The group generally
consists of 4-6 students. The group is required to
analyze a business case, a major industry or a
market segment. Eighty percent of students should
meet expectations (10 of 15 points) in an
assessment of their teamwork skills. The
assessment will be made by the instructor but will,
in part, be based on student evaluation of other
team members. See attached Teamwork grading
rubric.
Results: TBA
Expected Impact: Students improve
their teamwork skills by participating
in group projects. In order to improve
performance, work with professors on
developing opportunities for students to
participate in group projects, evaluating
teamwork skills, and providing
feedback to the students.