- \r\n \t
- Explain the role of customers in marketing<\/li>\r\n \t
- Explain the role\u00a0of segmentation and targeting in marketing<\/li>\r\n \t
- Explain the marketing mix<\/li>\r\n<\/ul>\r\n<\/div>\r\n<\/div>\r\n
Module 14: Marketing Mix<\/h2>\r\n
Explain how organizations use the marketing mix to market to their target customers<\/h3>\r\n
- \r\n \t
- Explain common product marketing strategies and how organizations use them<\/li>\r\n \t
- Explain common pricing strategies and how organizations use them<\/li>\r\n \t
- Explain common product distribution strategies and how organizations use them<\/li>\r\n \t
- Explain how organizations use integrated marketing communication (IMC) to support their marketing strategies<\/li>\r\n<\/ul>\r\n
Module 15: Human Resource Management<\/h2>\r\n
Recognize the role of human resource management in planning, recruiting, and managing a workforce<\/h3>\r\n
- \r\n \t
- Explain how the functions of human resource management contribute to business success<\/li>\r\n \t
- Summarize and discuss\u00a0key laws affecting human resource management<\/li>\r\n \t
- Discuss how organizations can effectively recruit and hire\u00a0employees<\/li>\r\n \t
- Discuss effective approaches to training, developing, and rewarding employees<\/li>\r\n \t
- Describe the different HR management options for employee termination<\/li>\r\n \t
- Discuss the challenges facing today\u2019s HR managers<\/li>\r\n<\/ul>\r\n
Module 16: Accounting and Finance<\/h2>\r\n
Recognize sound accounting practices, and use financial statements and accounting principles to make informed judgments about an organization\u2019s financial health<\/h3>\r\n
- \r\n \t
- Define accounting, and explain its role as a form of business communication<\/li>\r\n \t
- Identify key financial statements and their components, and explain the primary use of each type of statement<\/li>\r\n \t
- Calculate the break-even point, where profit will be equal to $0, using information from financial statements<\/li>\r\n \t
- Use financial statements to calculate basic financial ratios to measure the profitability and health of a business<\/li>\r\n \t
- Discuss the importance of ethical practices in accounting and the implications of unethical behavior<\/li>\r\n<\/ul>\r\n ","rendered":"
<\/p>\n
![\"icon](\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2025\/2017\/07\/01225024\/outcomes.jpg\")
<\/p>\nThe content, assignments, and assessments for Introduction to Business are aligned to the following learning outcomes. For a complete list of topics covered in the course, see the Detailed Learning Outcomes.\u00a0<\/a><\/p>\n
Module 1: Role of Business<\/h2>\n
Discuss the role of business in society, the primary functions within a business, and external forces that affect business activities<\/h3>\n
- \n
- Explain the concept of business<\/li>\n
- Distinguish between for-profit and nonprofit businesses<\/li>\n
- List and explain the four factors of production required to sustain a business<\/li>\n
- Identify the primary functional areas within a business and describe their contribution to the organization<\/li>\n
- Identify business stakeholders and describe their relationship with business organizations<\/li>\n
- Identify the external forces that shape the business environment<\/li>\n<\/ul>\n
Module 2: Economic Environment<\/h2>\n
Explain fundamental economic principles and describe how they shape the business environment<\/h3>\n
- \n
- Define economics and explain the difference between macroeconomics and microeconomics<\/li>\n
- Identify the forces that drive supply and demand within an economic system<\/li>\n
- Illustrate the relationship between supply and demand using supply and demand curves<\/li>\n
- Compare and contrast different economic systems (capitalist, planned, and mixed)<\/li>\n
- Describe the methods economists use to evaluate the health of an economy, such as GDP, unemployment rate, and CPI<\/li>\n
- Explain the effect that the four stages of an economy (expansion, peak, contraction and trough) have on business operations<\/li>\n
- Identify and explain the four stages of an economy (expansion, peak, contraction, and trough), and describe their impact on business operations<\/li>\n<\/ul>\n
Module 3: Global Environment<\/h2>\n
Describe the characteristics, opportunities, and challenges of the global business environment<\/h3>\n
- \n
- Explain why nations and U.S. firms engage in global business<\/li>\n
- Describe how nations measure global trade<\/li>\n
- Evaluate common strategies used to reach global markets<\/li>\n
- Identify and describe forces that affect global trade<\/li>\n
- Describe global trade agreements and economic organizations that regulate and promote global trade<\/li>\n
- Describe ethical challenges that businesses face in a global environment<\/li>\n<\/ul>\n
Module 4: Financial Markets and Systems<\/h2>\n
Explain the institutions and markets that comprise the financial system, and explain how they impact the economy and the money supply<\/h3>\n
- \n
- Explain what money is and what makes it useful<\/li>\n
- Explain the role of banks in the U.S. monetary system<\/li>\n
- Describe common ways in which businesses obtain financial capital (money) to fund operations<\/li>\n<\/ul>\n
Module 5: Legal Environment<\/h2>\n
Summarize the role of the legal system in governing and shaping the climate for business<\/h3>\n
- \n
- Explain the meaning and purpose of law<\/li>\n
- Differentiate between statutory and common law<\/li>\n
- Define tort law, and explain the role of product liability in tort law<\/li>\n
- Explain the purpose and characteristics of intellectual property law<\/li>\n
- Describe warranties<\/li>\n
- List and describe the elements of a legally enforceable contract, and explain the consequences of breach of contract<\/li>\n
- Summarize consumer protection and antitrust laws<\/li>\n<\/ul>\n
Module 6: Business Ethics and Corporate Social Responsibility<\/h2>\n
Explain the importance of business ethics and corporate social responsibility<\/h3>\n
- \n
- Differentiate between ethical and legal behavior<\/li>\n
- Explain the concept of business ethics, and outline the steps companies take to encourage ethical behavior<\/li>\n
- Identify common ethical challenges faced by organizations<\/li>\n
- Explain the concept of corporate social responsibility (CSR)<\/li>\n<\/ul>\n
Module 7: Business Ownership<\/h2>\n
Distinguish among the forms of business ownership<\/h3>\n
- \n
- List and explain the important factors in choosing an organizational type<\/li>\n
- Discuss the advantages and disadvantages of sole proprietorships<\/li>\n
- Discuss the advantages and disadvantages of partnerships<\/li>\n
- Discuss the advantages and disadvantages of corporations<\/li>\n
- Discuss the advantages and disadvantages of hybrid forms of business ownership<\/li>\n
- Discuss the advantages and disadvantages of franchises<\/li>\n
- Describe the two types of mergers and acquisitions<\/li>\n<\/ul>\n
Module 8: Entrepreneurship<\/h2>\n
Discuss the role of entrepreneurship in small business<\/h3>\n
- \n
- Discuss the contributions of small business to the U.S. economy<\/li>\n
- Identify the common traits of successful entrepreneurs<\/li>\n
- Discuss the advantages, disadvantages, and important considerations of starting a small business<\/li>\n
- Describe the steps to starting a business<\/li>\n
- List and describe the key components of a business plan<\/li>\n<\/ul>\n
Module 9: Management<\/h2>\n
Describe the primary functions, responsibilities, and skills of effective leadership and management<\/h3>\n
- \n
- Describe the three levels of management and the key skills needed by managers<\/li>\n
- Summarize the development of management theory and the key functions of management today<\/li>\n
- Identify the types of planning and decision making managers engage in, and explain how these help organizations reach their goals<\/li>\n
- Describe the organizing function of management and common types of organizational structure<\/li>\n
- Describe common management and leadership styles, and identify the circumstances under which they are most effective<\/li>\n
- Explain why control is an essential part of effective management, and outline the steps of the control process<\/li>\n<\/ul>\n
Module 10: Motivating Employees<\/h2>\n
Explain common motivational theories and apply them to business<\/h3>\n
- \n
- Describe the Hawthorne effect, and explain its significance in management<\/li>\n
- Explain need-based theories of worker motivation<\/li>\n
- Explain process-based theories of motivation<\/li>\n
- Differentiate between Theory X, Theory Y, and Theory Z managers<\/li>\n
- Explain how managers can use job characteristics and goal-setting theory to motivate employees<\/li>\n<\/ul>\n
Module 11: Teamwork and Communication<\/h2>\n
Explain\u00a0the importance of teamwork and effective communication in a business environment<\/h3>\n
- \n
- Differentiate between groups and teams, and describe the characteristics of different types of teams<\/li>\n
- Explain the stages of team development and the factors that contribute to team success<\/li>\n
- Explain the importance of, and barriers to, effective communication within an organization<\/li>\n
- Describe typical communication flows, channels, and networks within an organization, and explain when different channels are appropriate<\/li>\n
- Describe the ethical issues, risks, and challenges associated with electronic communication in business<\/li>\n<\/ul>\n
Module 12: Managing Processes<\/h2>\n
Explain how operations management contributes to organizational success<\/h3>\n
- \n
- Define operations management in manufacturing and production businesses<\/li>\n
- Describe four major types of facility layouts: process, product, cellular, and fixed position<\/li>\n
- Identify existing and emerging technologies that are changing the way goods are produced and delivered<\/li>\n
- Define operations management in service businesses<\/li>\n
- Explain the scheduling tools (Gantt and PERT) used to increase operations efficiency<\/li>\n
- Explain the importance of logistics and supply-chain management<\/li>\n
- Identify the techniques that are available to ensure high-quality goods and services (Six Sigma, TQM, SPC) and describe the costs of poor quality<\/li>\n<\/ul>\n
Module 13: Marketing Function<\/h2>\n
Explain the key components of the marketing function<\/h3>\n
\n\n- \n
- Explain the role of customers in marketing<\/li>\n
- Explain the role\u00a0of segmentation and targeting in marketing<\/li>\n
- Explain the marketing mix<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
Module 14: Marketing Mix<\/h2>\n
Explain how organizations use the marketing mix to market to their target customers<\/h3>\n
- \n
- Explain common product marketing strategies and how organizations use them<\/li>\n
- Explain common pricing strategies and how organizations use them<\/li>\n
- Explain common product distribution strategies and how organizations use them<\/li>\n
- Explain how organizations use integrated marketing communication (IMC) to support their marketing strategies<\/li>\n<\/ul>\n
Module 15: Human Resource Management<\/h2>\n
Recognize the role of human resource management in planning, recruiting, and managing a workforce<\/h3>\n
- \n
- Explain how the functions of human resource management contribute to business success<\/li>\n
- Summarize and discuss\u00a0key laws affecting human resource management<\/li>\n
- Discuss how organizations can effectively recruit and hire\u00a0employees<\/li>\n
- Discuss effective approaches to training, developing, and rewarding employees<\/li>\n
- Describe the different HR management options for employee termination<\/li>\n
- Discuss the challenges facing today\u2019s HR managers<\/li>\n<\/ul>\n
Module 16: Accounting and Finance<\/h2>\n
Recognize sound accounting practices, and use financial statements and accounting principles to make informed judgments about an organization\u2019s financial health<\/h3>\n
- \n
- Define accounting, and explain its role as a form of business communication<\/li>\n
- Identify key financial statements and their components, and explain the primary use of each type of statement<\/li>\n
- Calculate the break-even point, where profit will be equal to $0, using information from financial statements<\/li>\n
- Use financial statements to calculate basic financial ratios to measure the profitability and health of a business<\/li>\n
- Discuss the importance of ethical practices in accounting and the implications of unethical behavior<\/li>\n<\/ul>\n
<\/p>\n\n\t\t\t
\n\t\t\t Candela Citations<\/h3>\n\t\t\t\t\t
\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tCC licensed content, Original<\/div>- Learning Outcomes. Provided by<\/strong>: Lumen Learning. License<\/strong>: CC BY: Attribution<\/a><\/em><\/li><\/ul>CC licensed content, Shared previously<\/div>
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