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COURSE INFORMATION
Course Title: INTRODUCTION TO BUSINESS
Code Course Type Regular Semester Theory Practice Lab Credits ECTS
BUS 103 B 1 3 0 0 3 5
Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature) NA
Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours: Prof.Dr. Osman Nuri Aras oaras@epoka.edu.al , Thursday 14:30 - 17:00
Second Course Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours: NA
Teaching Assistant(s) and Office Hours: NA
Language: English
Compulsory/Elective: Compulsory
Study program: (the study for which this course is offered) Bachelor in Banking and Finance (3 years)
Classroom and Meeting Time: E/211 Wednesday 08:40
Code of Ethics: Code of Ethics of EPOKA University
Regulation of EPOKA University "On Student Discipline"
Attendance Requirement: 75%
Course Description: Introduction to Business is a course that offers essential information related to the business landscape and business functions (Operations & Production, Marketing, Finance & Accounting, Human Resourced Management, IT). The course has been designed in such a way that it provides to the students the updated information on the business reality which changes very rapidly. At the same time, it provides the necessary information for more advanced courses related to the aforementioned business functions. Through real life examples and case studies, both national and international; the content of this course has been aligned with the contemporary developments in the field of business, and aims to provide the basics for the understanding of business organizations and people who operate them.
Course Objectives: This is an introductory level course designed to introduce students to basic business terminology, operations, and principles, including an introduction to the business functions. Upon completion of this course students will demonstrate the ability to describe and explain: Basic business concepts, terminology, and institutions' basic environment (legal, social, economic) in which a business operates; Basic concepts of management and recognize problems faced in operating a business enterprise; Basic concepts related to the marketing of goods and services; Basic elements of accounting, computers, data processing, and quantitative methods with emphasis on the role these play in business.
BASIC CONCEPTS OF THE COURSE
1 Matching Risk with Profit
2 Understanding Free-Market Capitalism
3 Strategies for Reaching Global Markets
4 Managing Businesses Ethically and Responsibly
5 Basic Forms of Business Ownerships
6 Learning about Small - Business Operations
7 Finding and Keeping the Best Employees
8 Financial Planning
COURSE OUTLINE
Week Topics
1 Introduction & Syllabus Review: An introduction of each topic which will be lectured during the semester weeks, also the material needed and the requirements to succeed the course.
2 Chapter 1: Taking Risks and Making Profits within the Dynamic Business Environment; In this week we will describe the relationship between profit and risk, and show how businesses and nonprofit organizations can raise the standard of living for all. Also, analyze the effects of the economic environment and taxes on businesses. (page 2-25)
3 Chapter 2: Understanding Economics and How It Affects Business; This lecture is dedicated to explain what capitalism is and how free markets work, to compare socialism and communism, and to analyze the trends toward mixed economies. (page 26-55)
4 Chapter 3: Doing Business in Global Markets; Firstly we discuss the importance of the global market and the roles of comparative advantage and absolute advantage in global trade. Also, explain the importance of the global market and the roles of comparative advantage and absolute advantage in global trade. (page 56-85)
5 Chapter 4: Demanding Ethical and Socially Responsible Behavior; This chapter explains why obeying the law is only the first step in behaving ethically. Also, describes management’s role in setting ethical standards. (page 86-109)
6 Chapter 5: How to Form a Business; In this week the topics explained are related to the differences between general and limited partners, and compare the advantages and disadvantages of partnerships. (page 110-139)
7 Chapter 6: Entrepreneurship and Starting a Small Business; This lecture explains why people take the risks of entrepreneurship; the attributes of successful entrepreneurs; and describes entrepreneurial teams, intrapreneurs, and home- and web-based businesses. (page 140-167)
8 Midterm Exam
9 Chapter 7: Management and Leadership; Describe and explain the four functions of management; explain the differences between leaders and managers, and describe the various leadership styles. (page 168-189)
10 Chapter 9: Production and Operations Management; This lecture identifies various production processes, and describe techniques that improve productivity, including computer-aided design and manufacturing, flexible manufacturing, lean manufacturing, mass customization, robotics, and 3D printing. (page 190-215)
11 Chapter 11: Human Resource Management; The topics explained this week are related the importance of human resource management, and describe current issues in managing human resources. Describe methods that companies use to recruit new employees, and explain some of the issues that make recruitment challenging (page 266-299)
12 Chapter 13: Marketing: Helping Buyers Buy; We first define marketing, and apply the marketing concept to both for-profit and nonprofit organizations, then describe the four Ps of marketing. (page 326-352)
13 Business Plan: Presentations
14 Business Plan: Presentations
Prerequisite(s): N/A
Textbook(s): Understanding Business / William G. Nickels, James M. McHugh, Susan M. McHugh. —Twelve edition. (2018)
Additional Literature:
Laboratory Work: N/A
Computer Usage: N/A
Others: No
COURSE LEARNING OUTCOMES
1 Understanding the basic concepts of business
2 Understanding the business as a system
3 Understanding the business types and legal structures
4 Understanding the setting up of a business, and business size
5 Understanding the different business functions
6 Be familiar with contemporary issues in business
COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES
(Blank : no contribution, 1: least contribution ... 5: highest contribution)
No Program Competencies Cont.
Bachelor in Banking and Finance (3 years) Program
1 The students gain the ability to look at the problems of daily life from a broader perspective with an increased awareness of the importance of moral/ethical considerations and professional integrity in the workplace. 1
2 They develop their knowledge and understanding of banking and finance including concepts, theories, and analytical tools that serve both in national and international markets. 3
3 They gain an understanding of the role of financial management in business firms and the essentials of corporate finance and further develop their knowledge in the field. 4
4 They are able to apply valuation models to estimate the price of different financial assets, measure risk and describe the risk-return tradeoff. 4
5 They are provided with the knowledge and understanding of the regulatory framework and functioning of banking system and central banking as well as international banking system. 2
6 They are able to understand and use fundamental economic theories and tools to solve economic problems in banking and financial services industry. 3
7 They have the ability to develop and utilize accounting, financial and economic data as well as other information to solve different business problems by making use of basic mathematical and statistical models. 5
8 They are expected to develop their numerical and IT skills as well as knowledge of databases in order to address the significant development in the delivery and use of financial services known as FinTech. 2
9 They develop their ability to think critically, do research, analyze, interpret, draw independent conclusions, and communicate effectively, both individually and as part of a team. 4
10 They are provided with opportunities to acquire the necessary skills and competencies to develop professionalism in the banking and financial services industry or to move on to further study within the discipline. 4
COURSE EVALUATION METHOD
Method Quantity Percentage
Midterm Exam(s)
1
30
Project
1
30
Quiz
2
5
Final Exam
1
30
Total Percent: 100%
ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)
Activities Quantity Duration(Hours) Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours) 16 3 48
Hours for off-the-classroom study (Pre-study, practice) 16 3 48
Mid-terms 1 12 12
Assignments 0
Final examination 1 17 17
Other 0
Total Work Load:
125
Total Work Load/25(h):
5
ECTS Credit of the Course:
5
CONCLUDING REMARKS BY THE COURSE LECTURER

Attendance: Students should attend at least 75% of the classes. However, students should consider possible loss of specific evaluation in a certain day they are missing. Academic integrity: Cheating, plagiarism or any other type of academic dishonesty is not tolerated. Each student is responsible for understanding the Epoka University Student Discipline Regulation and Exam Rules. Grading: Student grade is not subject to negotiation. In case of perceived human error by the lecturer side, the student should submit their concern in writing and ask for reevaluation of the exam paper/assignment/project.
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