JEFFERSON COLLEGE COURSE COMPETENCIES
Competencies
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***63 of 70 competencies must be met in order to articulate class (90%)***
***56 of 70 competencies must be met by the student in order to be
recommended for credit (80%)***
BUS 101 INTRODUCTION TO BUSINESS
1. Explore Trends in the Current Business Environment
a) Understanding Business, Nickels, McGraw-Hill, 8th textbook or
comparable textbook
b) Define profit and its relationship to risk.
c) Describe how businesses add to the standard of living and quality of
life.
d) Explain how the economic environment affects business.
e) Discuss how the social environment has changed and what the reaction
of business has been.
f) Describe what businesses must do to meet the global challenge.
2. Understand Domestic and Global Economics
a) Discuss the major advantages and disadvantages of, and differences
between, capitalism and socialism.
b) Discuss the trend toward mixed economies (i.e., a blend of capitalism
and socialism).
c) Describe how the free-market system works.
d) Use key terms (e.g., GDP, unemployment and inflation) to explain the
U.S. economic condition.
e) Explain monetary policy and its importance to the economy.
f) Explain fiscal policy and its importance to the economy.
3. Discuss Competing in Global Markets
a) Discuss the increasing importance of the global market.
b) Describe the current status of the United States in global business.
c) Illustrate various strategies used in reaching global markets (e.g.,
exporting, licensing, franchising, outsourcing, etc.).
d) Identify factors that should be addressed before trading in world
markets (e.g. cultural, economic, financial, legal and environmental).
e) Debate the advantages and disadvantages of trade protectionism.
4. Demonstrate Ethical Behavior and Social Responsibility
a) Explain why legality is only the first step in ethical behavior.
b) Ask the three questions one should answer when faced with ethical
decisions: (a) Is it legal? (b) Is it fair (balanced)? (c) How will it make me
feel about myself?
c) Define social responsibility in relation to businesses.
d) Discuss the role of American businesses in influencing ethical behavior
and social responsibility in global markets.
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JEFFERSON COLLEGE COURSE COMPETENCIES
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5. Discuss Owning a Business
a) Compare the advantages and disadvantages of sole proprietorships.
b) Compare the advantages and disadvantages of partnerships.
c) Compare the advantages and disadvantages of corporations.
d) Define and give examples of three types of corporate mergers
(horizontal, vertical and conglomerate) and explain the role of
leveraged buyouts.
e) Outline the advantages and disadvantages of franchises.
6. Explain Entrepreneurship and the Challenge of Starting a Small Business
a) Explain why people take the risks of entrepreneurship and discuss the
attributes of successful entrepreneurs.
b) Discuss the importance of small business to the American economy and
summarize the major causes of small-business failure.
c) Summarize ways to learn about how small businesses operate.
d) Analyze the necessary aspects of starting and running a small business,
including the writing of a business plan.
e) Outline the advantages and potential challenges for small businesses
interested in entering global markets.
7. Describe Leadership, Management and Employee Empowerment
a) Explain the four functions of management (planning, organizing,
leading and controlling) and discuss the reasons for the changing role
of managers.
b) Distinguish between goals and objectives; distinguish between
strategic, tactical, and contingency planning; and explain the
relationships of goals and objectives to various types of planning.
c) Describe the significance of an organization chart and explain how
organizations are changing to meet the needs of customers.
d) Explain the difference between managers and leaders, and compare
the characteristics and uses of various leadership styles (i.e., autocratic,
participative and free-rein leadership).
8. Explain Adapting Organizations to Today’s Environment
a) Describe the traditional hierarchical, bureaucratic organization
structure and how it is being restructured.
b) Explain the organizational theories of Henri Fayol and Max Weber.
c) Discuss the various issues involved in structuring organizations.
d) Describe the differences between the following organization models:
line, line-and-staff, matrix-style and cross functional self-managed
teams.
e) Give examples to show how organizational culture and the informal
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JEFFERSON COLLEGE COURSE COMPETENCIES
organization can hinder or assist organizational change.
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9. Describe Motivating Employees and Building Self-managed Teams
a) Explain Frederick Taylor’s scientific management.
b) Describe the Hawthorne studies and relate their significance to humanbased management and motivation.
c) Identify the levels of Abraham Maslow’s hierarchy of needs and relate
their importance to employee motivation.
d) Differentiate between Douglas McGregor’s Theory X and Theory Y.
e) Explain the major characteristics comprising William Ouchis’ Theory Z.
f) Distinguish between motivators and hygiene factors as defined by
Frederick Herzberg.
10. Explain Methods for Finding and Keeping the Best Employees
a) Explain the importance of human resources management.
b) Summarize the steps involved in human resource planning. Include an
explanation of the following related terms: human resource inventory,
and job analysis (which includes job descriptions and job
specifications).
c) Describe methods that companies use to recruit new employees and
explain some of the challenges associated with the recruitment
process.
d) Outline the steps involved in selecting employees.
e) Illustrate the use of various types of employee training and
development methods.
f) Discuss the steps involved in appraising employee performance.
g) Discuss various types of employee compensation (i.e., different pay
systems and benefits).
h) Illustrate the effects of legislation of human resource management.
11. Define Building Customer Relationships Through Marketing
a) Define marketing
b) Discuss the three parts associated with the term, “marketing concept”:
customer orientation, service orientation and profit orientation.
c) List and describe the four Ps of marketing.
d) Describe the marketing research process.
e) Distinguish between the business-to-business market and the
consumer market.
f) Explain the importance of market segmentation and discuss different
types of market segmentation (e.g., demographic, psychographic,
geographic, etc.).
g) Discuss the marketing strategy known as “relationship marketing” and
the importance of this type of strategy in today’s business
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environment.
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12. Discuss Using Technology to Manage Information
a) Outline the changing role of business technology.
b) Summarize the services available with on-line services and the Internet.
c) List the steps in managing information and identify the characteristics
of useful information.
d) Discuss positive and negative effects of information technology on
businesses as well as individuals.
13. Identify Financing and Investing Through Securities Markets
a) Identify and explain the functions of securities markets and discuss how
businesses and individuals can make use of their services.
b) Compare the advantages and disadvantages of issuing stock and
identify the differences between common and preferred stock.
c) Identify the various stock exchanges where securities are traded.
d) Describe the opportunities stocks offer as investments and define the
term, “junk bonds.”
e) Define the term, “mutual fund” and describe the opportunities mutual
funds offer as investments.
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