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:	Dr. Esmir Demaj edemaj@epoka.edu.al , Thursday; 09:00-11:30, E-102
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 Business Informatics (3 years)
Classroom and Meeting Time:	E-214, Wednesday 13:40-16:30
Code of Ethics:	Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline"
Attendance Requirement:	Minimum 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	Basic business terminology
2	Forming a Business Unit
3	General Management
4	Basics of HR
5	Basics of Marketing
6	Basics of Accounting and Financial Management
7	International Business and Economics
8	New Concerns of Business

COURSE OUTLINE

Week	Topics
1	Course Introduction. Syllabus Review. Lecture 1 - Introduction to Business. Students will be introduced to different types of businesses and their objectives. We will discuss about the art of entrepreneurship and the main actors: entrepreneurs and managers. It will be given insight to management levels and the required skills per each. The chapter subsequently describes the industrial and general environment that a business operates in and how can the mangers adapt to the requirements imposed by environmental factors. Learning Objectives After studying this chapter the student should be able to: • Explain the objectives and what a business is • Describe the entrepreneurs who start the business and their principal characteristics • Describe the managers,the people who administer the business operations • Explain the management levels and managers’ required skills • Discuss the businesses’ relationship with its environment and how they match with environmental changes
2	Lecture 2 – Forming a business unit This chapter lists and describes different categories of business according to their sizes, functions and equity ownership. Their respective advantages and disadvantages are discussed. Following, the most important legal structures of private business are reviewed. Lastly, this chapter concludes by describing business alliances and their strategic approaches to achieve competitiveness in the global landscape. Learning Objectives After studying this chapter the student should be able to: • Understand the several types of business formations in the economy • Discuss the advantages of Small and Medium Sized Businesses (SMSB) and Large companies • Explain sole proprietorship, partnerships and corporations • Discuss the ownership and management issues in corporations • Explain why companies are forming strategic alliances • Define the mergers and acquisitions
3	Lecture 3- Business in a global context In this chapter students are presented with advantage positions of a country: Absolute advantage and comparative advantage. Secondly, there is an outline of different economic systems and their specific characteristics. Next, competition and its categories are discussed. Also, students will learn about basic stages in international/ global business and the levels of risk and control associated to each step. Economic phenomena of import and export are put into focus, followed by the formula of balance of trade. They will be introduced to trade agreements and international organizations that support free trading between nations. Lastly, business cycle will be covered and examples for each will be highlighted. Learning objectives After studying this chapter the student should be able to: • Identify absolute and comparative advantage • Categorize different economic systems and provide their characteristics • Describe the two significant forms of foreign trading: Importing and exporting • Explain Balance of trade • Explain how companies develop overseas business • Define the natural and man-made barriers in foreign trading • Define business cycle and explain the stages
4	Lecture 4- General Management in Business Management and its four important functions in organizations are defined. Then, the management process and all the steps are described in detail. Students will learn about differences between goals and plans. Different types of plans are listed; according to time period, their use in the organization and their place in organizational hierarchy. Decision making process is presented and types of decisions in an organization are compared. The process of organizing and its fundamentals are considered. Also, organization structures and the factors influencing it are highlighted. Lastly, students will learn about different approaches of company departmentalization. Learning objectives After studying this chapter the student should be able to: • Define management and its four important functions in organizations • Explain planning as a function of management • Explain how the organizations accomplish planning process • Explain the factors which influence organization structure • Describe traditional, modern and contemporary approaches in departmentalization.
5	Lecture 5- General Management in Business II This chapter is a continuation of the previous chapter. Management and management process will be revised. We will focus on the leading function and its influence to accomplish organizational goals. Leadership theories and theories of motivation are carefully analyzed. It will be proceeded with Maslow’s hierarchy of needs as one of the most important theories of motivation. We will talk about communication and the barriers related to it. Among the functions of management, the controlling function and its techniques will be studied. Learning objectives After studying this chapter the student should be able to: • Define the leading function and its three important involvements: leadership,motivation and communication • Explain the various theories of leadership • Understand situational factors that affect leadership • Discuss Maslow’s theory • Explain communication • Define controlling and its forms.
6	Lecture 6- Human Resource Management This chapter is about Human Resources Management. We will discuss about environmental influences on HRM and main activities. Recruitment and selection processes will be evaluated. Students will learn about internal and external techniques of selecting employees and different training programs. Eventually, there will be discussions on other processes related to employees: compensation, job evaluation, motivation and separation. Learning objectives After studying this chapter the student should be able to: • Define Human Resources Management • Explain the external factors affecting HRM • Define Job analysis and its outcomes: Job description and Job Specifications • Discuss managerial and non-managerial training and development programs used in or out of the organizations.
7	Lecture 7- Accounting and Financial management in Business In this chapter, the concepts of accounting and finance will be explained. Students will learn about functions of accounting, people involved in this process and steps in the accounting process. The accounting terms like: transactions, the account, the journal, the ledger should be absorbed. Students will study the financial statements and their purpose. They will be introduced to financial ratios and how to interpret them. Managerial accounting and financial management will be defined. Learning objectives After studying this chapter the student should be able to: • Understand the accounting transactions and accounting processes in the organizations • Define the two significant forms of accounting; financial accounting and managerial accounting • Understand the three important financial statements: balance sheet, income statement and cash-flow statement • Explain the four important financial ratios: liquidity, leverage, profitability and activity ratios.
8	Midterm Exam
9	Lecture 9- Production and Operations Management in Business In this chapter the student will be introduced to production and operations management. We will discuss on different types of processes: projects, batch production, mass production and continuous production. Then, there will be a review of the layout strategies and how they help to achieve the best placement of an organization’s resources. Supply Chain Management, Inventory Management and Project Management are analyzed as sets of activities that must be completed to efficiently achieve the company’s goals. Learning objectives After studying this chapter the student should be able to: • Describe some of the primary topics involvement in operation management in business • Define process strategy and its types • Explain the types of layouts • Explain supply chain management and various components • Explain inventory management and project management.
10	Lecture 10- Marketing Management in Business This chapter will begin with a definition of marketing and its activities. The students should differentiate between selling and marketing concepts. They will learn to compare different market segmentations. The chapter subsequently describes consumer behavior and factors affecting it. Lastly, marketing mix or the combination of 4Ps (Product, Place, Price, Promotion) is analyzed by each component. Learning objectives After studying this chapter the student should be able to: • Understand one of the essential activity in business: The marketing activity • Explain the marketing planning needs and processes • Explain the different customer attitudes in consumer and business markets • Define the marketing mix and its components.
11	Lecture 11- Business and economics This chapter explains the relation between business and economics. It gives insight into the concepts of demand, competition, pricing, money, monetary policy and fiscal policy. Business people should utilize issues of microeconomics and macroeconomics in best way to serve their business unit. Students will learn about changes in prices and different types of inflation (demand-pull inflation, cost-push inflation and stagflation). Unemployment is another important issue that impacts communities and is suffered by suppliers, producers and all sellers. Lastly, there will be discussions on how government spending and policies affect economy and eventually the businesses operations. Learning objectives After studying this chapter the student should be able to: • Discuss the close relationship between business and economics • Understand the microeconomical issues such as demand and supply and equilibrium price • Define some macroeconomical issues such as growth and productivity • Understand unemployment, inflation, monetary and fiscal policy.
12	Lecture 12- Social Responsibility, Ethics and Law in Business This chapter explains the business’ responsibilities to the public. It presents the ethics in business and describes bases for ethical decision-making. Business people should also have the necessary knowledge of business law in order to best serve their business unit. Different categories of law are described and illustrated with appropriate examples. Learning objectives After studying this chapter the student should be able to: • Explain the business responsibilities to the public • Define corporate response strategies • Explain how ethics could be conducted in organizations • Explain types of laws and their affects in business.
13	Lecture 13- New Concerns of Business Nowadays, business face lots of challenges and have to undergo significant changes imposed by development of technology, politics and globalization. Firstly, this chapter describes globalization. With the emerge of global economies, markets and industries have become more internationalized and create interesting opportunities for the businesses. Secondly, the impact of information technology on business operations appears to be one of the most important issues in any company today. Students will also learn about e-commerce, Total Quality Management (TQM), Innovation Management and Technology Management. Learning objectives After studying this chapter the student should be able to: • Explain the effects of globalization on business • Describe information technology and its types • Define e-commerce • Explain principles of Total Quality Management and its products • Describe innovation management and technology management.
14	Term Projects and Final Review

Prerequisite(s):	N/A
Textbook(s):	1. Mirze, S. K. (2009). Introduction to Business. Literatur Publishing, Istanbul, Turkey / 2. Boone, L. E., Kurtz, D. L. (2012). Contemporary Business (14th ed.). John Wiley & Sons, Inc., USA / 3. Madura, J. (2007). Introduction to Business (4th ed.). Thomson South-Western / 4. Kelly M., Williams C. (2017). BUSN10: Introduction to Business (10th ed.). Cengage Learning
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 Business Informatics (3 years) Program
1	Identify activities, tasks, and skills in management, marketing, accounting, finance, and economics.	5
2	Apply key theories to practical problems within the global business context.	4
3	Demonstrate ethical, social, and legal responsibilities in organizations.	4
4	Develop an open minded-attitude through continuous learning and team-work.	5
5	Integrate different skills and approaches to be used in decision making and data management.	4
6	Combine computer skills with managerial skills, in the analysis of large amounts of data.	2
7	Provide solutions to complex information technology problems.	1
8	Recognize, analyze, and suggest various types of information-communication systems/services that are encountered in everyday life and in the business world.	2

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Midterm Exam(s)	1	20
Project	1	30
Case Study	5	2
Final Exam	1	40
	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	2	32
Mid-terms	1	10	10
Assignments	1	17	17
Final examination	1	18	18
Other			0
Total Work Load:			125
Total Work Load/25(h):			5
ECTS Credit of the Course:			5

CONCLUDING REMARKS BY THE COURSE LECTURER

NA