SYLLABUS BUS 10 ~ Introduction to Business Fall, 2021 Section 002 Instructor: Dr. Raj Singh Office: Virtual Office Hours: T/TH 12:30 pm to 01:30 pm Classroom: Virtual Class Hours: T/TH 11:00 am to 12:20 pm E-Mail: raj.singh@ucr.edu Course Website: http://ilearn.ucr.edu/ School of Business Vision We pursue excellence in all that we do, as our vision is to be an internationally recognized leader in business education and research. Mission We create knowledge through impactful research, unlock potential through exceptional educational experiences, and foster success in an innovative and collaborative environment. Strategy We pursue excellence in all we do by cultivating our environment, engaging our community and empowering our stakeholders. The School of Business at the University of California Riverside engages in drive for excellence by relying on the pillars of Environment, Engagement and Empowerment. Our ongoing focus on scholarship in discovery, practice, and integration drives us to reach for the highest levels. We pursue Excellence by building our Environment, maximizing Engagement, and motivating Empowerment in all we do. Undergraduate Program – Learning Goals Problem Solving Skills Students will be able to use a variety of theoretical perspectives to identify and critically evaluate implications of business decisions for organizational stakeholders (e.g., customers, colleagues, employees, stockholders, suppliers, foreign governments, communities, cultures, regulatory agencies) and the natural environment. Professional Integrity / Ethical Reasoning Skills Students will be able to recognize ethical issues, demonstrate familiarity with alternative frameworks for ethical reasoning, and discern trade-offs and implications of employing different ethical frames of reference when making business decisions. Global Context Skills Students will be conversant with major economic, social, political, and technological trends and conditions influencing foreign investment and development of the global economy and demonstrate an understanding of the cultural, interpersonal and analytical competencies required for engaging in global business activities. Written Communication Skills Students will demonstrate proficiency in written communications by creating written document that are clearly written, with appropriate content and conclusions. COURSE OBJECTIVES The Fortune 500 firms employ less than 10% of the United States’ workforce. The rest are employed by a wide variety of different types of organizations. However, all of these employing organizations have as their primary purpose the production of a good or the provision of a service. These organizations include government (U.S. Postal Service), not-for-profits (Madonna Rehabilitation Hospitals), professional corporations (law firms), and charitable foundations (United Way and Mothers Against Drunk Driving). This course is intended to provide a broadly based introduction to the many functions required to successfully create and sustain an organization in any setting. The course is designed to enhance your knowledge and abilities in the following ways: Factual Knowledge: A minimum expectation is that you will learn the fundamental principles and terms that are involved with operating and discussing a business venture. Conceptual Thinking: You will be expected to integrate and organize relevant data into frameworks/models, which will help to understand the larger picture of the business environment. This is the “integration” portion of the course. Analytical Skills: You will be expected to develop the basic ability to analyze business situations and develop strategies to address dynamic and uncertain conditions. This is the “critical thinking” component of the course. Practical Application: Through a group project, you will be given the opportunity to experience problem solving, teamwork and presentation skills. Personal Growth: The final objective of the course is for you to explore whether a career in business is appropriate for you, and if so, what specific area in business may provide the best opportunity for further study as an area of specialization. Whether or not you seek a career in business, many of the principles learned in this course can be invaluable to achieving your goals. LATE POLICY There are times when compelling and legitimate reasons, beyond your control, arise for missing an assignment due date. Typically, there is no make up for quizzes or exams. Prior arrangements should be made with the Professor (not the TA’s) when one will not be able to meet the deadline. Failure to make prior arrangements will require adequate documentation of the reasons for missing the deadline. Under exceptional circumstances, to be determined by the Professor, part or all of the penalty may be waived. STATEMENT ON DIVERSITY AND HARASSMENT The university is a setting for the free exchange of ideas. It is a place for individuals to explore new ideas, encounter new people, and broaden their intellectual perspective. To this end, the classroom setting should foster participation and the sharing of opinions. Learning and intellectual growth require the challenge of pre-existing assumptions and stereotypes. However, such challenges should always address appropriate issues and not threaten the personality or demographic traits of an individual. INTEGRITY STATEMENT: At the University of California, Riverside honesty and integrity are fundamental values that guide and inform us as individuals and as a community. The academic culture requires that each student take responsibility for learning and for producing work that reflect their intellectual potential, curiosity, and capability. Students must represent themselves truthfully, claim only work that is their own, acknowledge their use of others’ words, research results, and ideas, using the methods accepted by the appropriate academic disciplines and engage honestly in all academic assignments. Misunderstanding of the appropriate academic conduct will not be accepted as an excuse for academic misconduct. If a student is in doubt about appropriate academic conduct in a particular situation, he or she should consult with the instructor in the course to avoid the serious charge of academic misconduct. To ensure the highest standard of academic integrity, all students should be familiar with the guidelines posted at: http://conduct.ucr.edu/docs/generalconductbrochure.pdf REQUIRED TEXT William M. Pride, Robert J. Hughes and Jack R. Kapoor, Business. (Cengage Learning, 2018) Business MindTapV2.0 by William M. Pride, Robert J. Hughes, Jack R. Kapoor 0th Edition | Copyright 2018 GRADING Course grades will be based on the following: TOPIC Exam I Exam II Exam III Quizzes (3) Homework Assignments (6) e-Portfolio Assignments (2) Group Project (20 points for presentation and 60 points for written report) Group Member Evaluation Discussion section evaluation POINTS 40 points 40 points 120 points 30 points 60 points 10 points 80 points TOTAL 450 POINTS 25 points 45 points Conversion: RANGE GRADE Top Score Above ~ 420 420~450 405~419 390~404 375~389 360~374 345~359 330~344 315~329 300~314 285~299 270~284 000~269 A+ A AB+ B BC+ C CD+ D DF CLASS PARTICIPATION Each student is required to attend all lecture and section meetings and be prepared to discuss all reading material assigned for the applicable week and any previously assigned reading material. Each student will be required to participate in a group project, asked to evaluate their group members, and may be asked to periodically assess the effectiveness of the course. READING ASSIGNMENTS In addition to reading assignments given in class or otherwise, all students should read and be prepared to discuss, prior to class, the following: Week 0 September 23, 2021 Course Introduction Read Lesson 1 – Exploring the world of Business and Economics Week 1 September (28 - 30) Read Lesson 2 – Being Ethical and Socially Responsible Read Lesson 3 – Exploring Global Business Week 2 October (5 – 7) Lesson 4 – Choosing a Form of Business Ownership Lesson 5 – Small Business Entrepreneurship, and Franchises Week 3 (October (12 -14) Lessons in Entrepreneurship Exam 1 – Lessons 2,3 and 4 – October 14th Week 4 October (19 - 21) Lesson 6 – Understanding the Management Process Lesson 8 – Producing Quality Good and Services Week 5 October (26 – 28) Lesson 9 – Attaining and Retaining the Best Employees Lesson 10 – Motivating and Satisfying Employees and Teams Week 6 November (02 -04) Lesson 11 – Enhancing Employee Management Relations Lesson 12 – Building Customer Relationships Through Effective Marketing Week 7 November (09 – 11) Lesson 16 – Exploring Business Technology No Class on November 11th Week 8 November (16 – 18) Lesson 17 – Using Accounting and Financial Exam 2 – Lessons 6, 9 and 10 – November 18th Week 9 November (23 – 25) Lesson 18 – Understanding, Money, Banking and Credit No class on November 25th Week 10 November 30th and December 2nd Lesson 19 – Mastering Financial Management Course Review Final Exam – 12/10/2021 Chapters 5,17,18, 19 and personal investments 11:30 am to 12:50 pm Final Business Plan Submission 1. Electronic copies of Final Business Plan and PP slides to be submitted on December 2nd. 2. All homework assignments are due on or before class meeting on December 2nd. GROUP PROJECT: You will participate as a member in a group project as part of the activities to promote wisdom and practical application of concepts learned in this course. Each group will consist of 5 individuals based on discussion section enrollment. A portion of lecture will be used from time to time to discuss expectations and provide guidelines for the group project. Portions of discussion sections will also be used to investigate and complete project relevant activities. Your grade in the course will be influenced by your grade on the project and how your contributions are evaluated by your teammates. A sample evaluation sheet is provided in the course materials section. Any questions concerning the project may be directed to the instructor. Project Description: As discussed at the first lecture, there are many types of business and organizations. However, the primary objective of each is to provide a product or service. Each group will select an industry (e.g., retail, food service, transportation, health care, charitable organizations) and a specific organization (e.g., Nordstrom, Marshall’s, UCLA Medical Center, CedarSinai Hospital, United Way, Red Cross, etc.) Finally, you will select a product or service it delivers (e.g., clothing, sports equipment, surgery, financial assistance, etc.). Your choices do not need to be profit-making ventures. The focus of the project will be to identify or develop a product service that would be a worthwhile addition to the organization’s product or service offerings. We will refer to this as the “extension” and you will analyze its impact on the “product or service mix” of the organization. During the quarter, each group will utilize the course materials to investigate the numerous issues confronting how the “extension” fits into and affects the “mix” and how to identify and implement the strategy for delivering the “extension” to the organization’s customer and to evaluate the impact on the overall success of the organization the “extension may have. Your analysis should address the CEO Twelve. Deliverables: Each group will produce and turn in a written analysis of their research. The length of this document is not as important as the quality of its content. The document will present an analysis of your recommended business plans/strategy. For the purposes of the project, analysis means “what the organization is doing and why.” Not only will you need to rely on information gained through class lectures, discussion sections and the course text, but you will need to use library and other resources to gather information necessary to understand your chosen organization and industry. The “extension” need not be successful. That is, you can get a good grade for having suggested a “bad” idea provided you explain, with supporting facts, why the idea is not a good “extension.” The project will be graded on the adequacy and coverage of your examination, the accuracy of your research and analysis, the quality of the document’s content and clarity and the understanding of the course material as demonstrated in the document’s analysis. Your major direction for the project will come from your TA. Seek his/her guidance for direction and checking your progress. Have the TA review a draft of the document from time to time. GROUP PROJECT GRADING GUIDELINES PRODUCT/EXTENSION: 5 points ____ Is the product well identified? Are its features and market location clearly explained? Does it seem a reasonable extension? Is its potential demand adequately discussed? STRATEGIC ANALYSIS: 10 points ____ What are the unique contributions of the extension to the mix? What is its positioning Vis a Vis the mix and the competition? What are the results of the SWOT analysis? Have appropriate environmental issues been assessed? FINANCIAL ANALYSIS: 10 points ____ What are the capital requirements to bring the extension to market? How will the capital needs be met? Is there sufficient return on investment to warrant the risk? To what extent, if any, will the extension detract or enhance or financial needs of the organization? PRODUCTION PLAN: 5 points ____ What are the processes necessary to deliver the extension? Are they synergistic with existing processes? How much of the production should be “outsourced?” What level of quality is needed for the extension to be successful? How will quality be assured? How will the extension be distributed? MARKETING STRATEGY: 10 points ____ What is the extension? How will it be promoted? Who are the customers? Who are the users? Who will sell the extension to the customer and tio the consumer? How will it be priced? Under what terms will it be sold? What warranties will be offered? Will it be branded or a commodity? What is the “product life cycle” for the extension? Is it part of the organizations current product mix i.e., an extension of the current mix or is it a new direction in the organization’s product line? ORGANIZATION: 5 points ____ What is the approach used in the organizational structure? How will the extension impact the organization? What motivation strategies and reward systems will be used in support of the extension? Will additions to the workforce be necessary? Who will be hired? How will they be compensated? MANAGEMENT: 10 points ____ What is the organization’s mission? What is the vision for its products? What is the organization’s culture? Are the organization’s mission, vision and culture consistent? Will the extension be compatible with the organization’s mission, vision and culture? Are there existing leaders within the organization who can handle the addition of the extension to the organization’s product line? If not, how will additional leadership be acquired? If so, how will their existing duties be handled once they assume new responsibilities? COMPREHENSIVENESS & QUALITY OF ANALYSIS: 10 points ___ Does the project consider and address the relevant range of course materials? Does it provide an appropriate depth of analysis? Is it accurate? Are its conclusions reasonable and supported by the information provided? PRESENTATION QUALITY: 10 points ____ Is the project well organized? Is there a smooth flow between sections? Is there continuity and consistency across segments? OVERALL IMPACT: 5 points ____ Is the project persuasive? Would the CEO of the organization want to read it? TOTAL SCORE = ________ POINTS