Course Outline
Course:
Course code:
Program:
Department:
Course Type:
Introduction to Business
Professional and Personal Development
CCES-LUMS
Course duration 8 Weeks, 2 sessions
/week 90 min each
Pre-Requisite(s): None
Nasir Riaz
Prepared By:
Approved By:
Year/Semester:
Units/Cr Hrs.:
Instructor:
Email:
2022/Jun-July
Nasir Riaz
riaznash555@gmail.com
Phone / WhatsApp +923245535809
Consultation Hours: After class 8:30-9:00 pm
Approval Date:
COURSE DESCRIPTION
The purpose of this course is to introduce participants to the functions of modern-day business enterprise and
how it is run profitably. This course will enable participants to gain basic understanding of what is the world of
business is all about, how a business enterprise operates and which business functions are needed to operate any
type of business organization. In this course participants will be able to explore and understand concepts like
business systems and how they operate in free market. Participants will explore areas like environmental
scanning, ethics and legal environment in business, economics in business, management, human resource
management, operations management, marketing management, entrepreneurship, finance and accounting
management, management information systems, total quality management, global business and e-commerce.
Course is specifically designed for participants who have no formal education in the field of business
administration.
COURSE OBJECTIVES
This course examines the field of business management with main objective of developing basic understanding of
all the key business functions needed to run any kind and size of business enterprise. Building on these core concepts
the course aims to involves participants in practicality of these functions in real world business scenario. At the
conclusion of this course, participants will have a better understanding how a business operates in our modern
political, social, and economic environment.
LEARNING OUTCOMES
L
O
1
L
O
2
L
O
3
L
O
4
L
O
5
L
O
6
Understand basic concept of free enterprise system and other types of economic systems
Understand ethical and legal environment of business
To be able to examine the basic forms of business owner ship
Gain basic understanding of international business operation
Understand basic functions of management and skills required to manage a business profitably
Be able to identify key functional areas of running business such as marketing, management, business
economics, human resource management, production and operation management, business finance and
accounting fundamentals, management information system, digital transformation,e-commerce
1
Course Outline
COURSE CONTENTS
WEEK
1
Topic
Session 1
Understanding Business
Definition of Business, business as social enterprise, importance of business, classification of business
types, legal forms of business ownership, organization of business, management of business
Session 2
Understanding Business
Economics of business, goods and services, factors of production, entrepreneurship, ethics,
competitive advantage, horizontal and vertical integration, diversification,
Business environment and economics of Pakistan, understanding global business,
Emerging trends in business during COVID-19 pandemic and under new-normal
2
Session 1
Ethics and Legal Environment of Business
Ethics in business, Ethical Management of Business, Importance, characteristics of an ethical company
Key ethical issues in business, Ethical decision making in business, Fair practices in business, CSR,
Corporate ethics, corporate governance, Broad concepts of business ethics in Islam, Ethical
Responsibilities of Modern Global Enterprise, Ethical Management/Leadership responsibilities during
COVID-19 crisis
Session 2
Ethics and Legal Environment of Business
Introduction to Legal Environment of Business, Key concepts define law, rights and duty, Importance to
businesses, Structure of legal system, Business Law in Pakistan –An overview, categories of law
application,
some key laws: Law of contract, Agency law, sales of goods law, insurance law, occupational and
safety law, consumer protection law, law related to un-fair business practices
3
Session 1 Economics
Economics
Definition, Importance, Relationship between business and economics, Market systems, branches of
economics, Microeconomics key concepts, Law of demand, supply and price, Market Equilibrium
point, Concept of Elasticity in economics, Market structures in economy,
Macroeconomics key concepts, importance and definitions, Fiscal and Monetary policies, Inflation and
Interest Rates, Central Bank and Money supply, Economics challenges faced by modern day business
enterprise.
Session 2
Management
Management definition, Importance of Management in business success Functions of Management –
Planning, Organizing, Leading and Control, Management hierarchy and roles, Forces Shaping Modern
Management practices, Strategic Management, Strategic Analysis tools, Growth management, vision
and mission statement, MBO, Leadership and Management, Change Management, Important theories
of Management, Managing under new normal
4
Session 1
Marketing
Definition, Importance, Types of marketing, Target market, Market Segmentation, Digital
Marketing –Intro, scope and future, Market Research, Consumer Behaviour (CB), Concepts of
Need, Want and Demand, Consumer buying process, Positioning, STP strategy, Brand
Management
2
Course Outline
Session 2
Marketing
Introduction to Four Ps of Marketing-Product, Price, Promotion, Place
Product definition Product strategy, New Product differentiation and development, PLC curve
Price definition, Setting Pricing policy/Strategy, Pricing approaches,
Promotion definition, AIDA model, Integrated marketing communication mix (IMCM)
Place definition, Types of placement channels,
Marketing plan and budget composition
5
Session 1
Human Resource Management
Definition, Functions of HRM, Importance of HRM, Goals of HR policy, HRM forecasting, Job:
Analysis, Description and Specification, Performance appraisal system (PAS), Succession Planning,
Training and Development, Strategic role of HRM,
HRM function in context of COVID-19 situation, Ethical issues in HRM,
Session 2
Production and Operations Management
-POM Definition, Importance, Benefits, Factors impacting efficiency of POM Production process
types, Supply chain management, Inventory Management System, New concepts in POM, Quality
Control
COVID-19 impact on sustainable production and operations management
6
Session 1
Entrepreneurship
Definition, Importance,5 Steps to wealth creation, Idea Generation Market gap analysis, Business Plan
definition, Importance and key components, Challenges faced by Entrepreneurship
Entrepreneurship key to survival during COVID-19 Crisis
Entrepreneurship in Pakistan, Entrepreneurial Leadership
Session 2
Managing MIS and Digital Transformation
Definition, Importance, Levels of MIS, Components of MIS, Designing MIS, Digital Transformation,
Artificial Intelligence, Big Data Analytics, Cloud Computing, Blockchain technology, E-Commerce
7
Session 1
Business Finance and Accounting Fundamentals
Why business activity requires finance? Capital and Revenue Expenditure, working capital (WC),
Sources of finance, Making the financing decisions, Cost management, Break-even analysis,
Session 2
Business Finance and Accounting Fundamentals
Accounting defined, key system types and out-put key terminology,
Profit & Loss statement (PLS)/Income statement
The Balance Sheet, Cash Flow Statement
Analysis of the financial statements
Session 1
Final project group presentations
8
Session 2
Final project group presentations
Overview of the course learning outcomes
3
Course Outline
COURSE PASSING CRITERIA
 Attendance
 Final project presentations
80%
20%
REFERENCE MATERIAL
 Text Book
https://www.researchgate.net/publication/338967220_INTRODUCTION_TO_BUSINESS_MANAGEMEN
T

Introduction to Business-Open textbooks library www.open.umn.edu
 https://d3bxy9euw4e147.cloudfront.net/oscms-prodcms/media/documents/IntroductionToBusiness-OP.pdf
4