ISTANBUL UNIVERSITY SCHOOL of BUSINESS

Department of Business Management and Organization

Course Syllabus for
INTRODUCTION TO BUSINESS
Fall 2016-2017

Instructor:

Yrd. Do. Dr. M. Murat YALIOLU

muratyas@istanbul.edu.tr

Supporting contacts:
Ars. Grv. Damla KROLU
damla.koroglu@istanbul.edu.tr
Course hours:

Wednesday, 11:30 am 14:20 pm

Office hours:

Wednesday, 15:00 pm 19:00 pm

This course basically presents an overview of the business enterprise in terms of

an economic unit rather through the general managers point of view. All business
functions, business types and environmental factors will be introduced in this
course in order to maintain a conceptual framework of business.
Course Objectives:
By the end of this course students should achieve the following:
1. Realize that business enterprises are economic units, established on a
realistic business plan basis and required operated in a global business
environment,
2. Discover basic terms and concepts associated with business functions;
managing, marketing, financing, operating, etc and their interactions in
terms of the elements of a whole system,
3. Understand that not only theoretical knowledge is adequate to gain the
spirit of a manager or an entrepreneur and that practical knowledge is also
crucial.

Grading:
Mid-term (40%) and Final exam (60%) incl. in class activities and projects
Textbook: Kadri S. MIRZE, Introduction to Business (Literatr Kitabevi).
Ebert, Ronald J., et al. Business essentials. Pearson Education Canada,
2014.

Topics to be covered
Week 1

Introduction to the course

Week 2

The Business Environment

Week 3

Entrepreneurship, New Ventures, and Business Ownership

Week 4

Managing the Business (Video case)

Week 5

Organizing the Business

Week 6

Operations Management and Quality for Producing Goods and Service

Week 7

Employee Behaviour and Motivation

Week 8

Human Resource Management and Labour Relations

Week 9

Marketing Processes and Consumer Behaviour

Week 10

Accounting and Managing Business Finances

Week 11

IT for Business

Week 12

Developing and Pricing Goods

Assignment 1
This is an individual assignment. Therefore, shall be completed with each student
alone. It is completely up to the student to pick any company and entrepreneur
they wish.
Entrepreneurship Paper
Each student will submit a detailed interview with an entrepreneur, an individual
who has started a new business venture. The format should be question and
answer. Each interview will consist of the following data elements, as appropriate
and available:
1.
The entrepreneur
Full name
Year of birth
City, state, and country of birth
Ethnic background and parents land of birth
Parents occupation
Education
Work experience, including prior entrepreneurial ventures
2.
The business
Name of business
Location
Description of business
Industry category
Revenues and profits for the last five years
Number of employees over the last five years
Number of product or service offerings over the past five years
Major customers
Major competitors
3.
Background of the new business venture
What were the steps that led the interview subject to becoming an
entrepreneur
How did the entrepreneur start the new venture
Where did the idea come from
How important were prior work experiences, education, family background
What specific elements in his background allowed him to start the new
venture
What specific elements in his background gave him the confidence to start
the new venture
Did the entrepreneur develop a business plan
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4.

5.

6.

7.

8.

9.

10.

11.

12.

How much initial capital was required and where did it come from
How much personal risk was involved and how much personal risk is still
involved
Where did the initial customers come from
What would the entrepreneur have done differently looking back on the
beginning
Competitive advantage
Describe the competitive advantage of the business
Is success a function of the entrepreneurs skill, luck, new technology,
business contacts
Growing the business
How did the entrepreneur grow the business (or fail to grow the business)
What factors contributed to growth and impeded it
What role did diversification of products and services play in growing the
business
Identify future plans what does the entrepreneur plan to do with the
business
Ethics
Is ethical behaviour critical to success as an entrepreneur
What were some of the ethical challenges faced
Management
Describe the entrepreneurs management style
Has it changed over time, and why
Organization
Describe the organizational structure of the business
Has it changed over time, and why
Human resources
Are there any employees, and why or why not
Who were the first employees hired and how were they found
Are they still with the new venture, and why or why not
Motivation
How does the entrepreneur motivate his employees?
Has it changed over time, and why
Marketing
How did the entrepreneur go about marketing his initial product or service
Has it changed over time, and why
The product or service
Was the initial product or service standardized or customized
Has it changed over time, and why
How are customer requirements and demands handled
Has it changed over time, and why
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13.

14.

Advice
What advice does the interview subject have for the young entrepreneur
Conclusions
Summarize the entrepreneurs career
Identify critical factors for success as an entrepreneur, whether situational
or personal

Assignment 2
This one is a group assignment. A group of 3-4 people should be formed in order
to finish the task. Individual works will not be appreciated. Groups should be
formed before 12th of October and should be enlisted with the name of the
company you come up with to Research Assistant Damla Krolu. Late
enlistments will not be accepted.
These projects may be presented in the classroom by the attendance of all group
members. Presentation schedule will be announced later through the term.
You will be required to create a business plan as described below. Presentations
will follow the project outline.
Summary: a one to three page overviews of the plan. Place it at the beginning
of the plan but write it after you complete the plan. You should try and include
the name and address and telephone number of the business (if applicable) and
the names of all principals (owners). Also, describe the unique aspects of your
business and how or why they will appeal to consumers. (make sure it intrigues
readers so they want to read more.) Emphasize any special features that you feel
will appeal to customers and explain how and why these features are
appealing. Also, clearly identify your goals and objectives and why you want to
be in business.
Business Description: when describing your business, generally you should
explain:
1. Business type: merchandizing, manufacturing or service.
2. What your product or service is.
3. Is it a new independent business, a takeover, an expansion, a franchise?
4. Why your business will be profitable. What are the growth
opportunities? Will franchising impact on growth opportunities?
5. When your business will be open (days, hours)?
6. What you have learned about your kind of business from outside sources
(trade suppliers, bankers, other franchise owners, franchisor, publications).

Product/Service: try to describe the benefits of your goods and services from
your customers perspective. You should know what your customers want or
expect from your business. This helps when building customer satisfaction and
loyalty and is also a good strategy for beating the competition. Describe:
1. What you are selling.
2. How your product or service will benefit the customer.
3. Which products/services are in demand; if there will be a steady flow of
cash.
4. What is different about the product or service your business is offering.
The Marketing Plan: describes your likely customers and details your
competition. Indicate the marketing strategies that you plan to put into
place. Include types and location of advertising. The key element of a successful
marketing plan is to know your customerstheir likes, dislikes, expectations. By
identifying these factors, you can develop a marketing strategy that will allow you
to fulfill their needs.
1. Who are your customers? Define your target market(s). Identify your
customers by their age, sex, income/educational level and residence. At
first, target only those customers who are more likely to purchase your
product or service.
2. Are your markets growing? Steady? Declining?
3. Is your market share growing? Steady? Declining?
4. Are your markets large enough to expand?
5. How will you attract, hold, increase your market share? How will you
promote your sales?
6. What pricing strategy have you devised?
Legal plan: (business form) proprietorship, partnership, corporation. The
licenses or permits you will need. See chapter 6 for details.
Management Plan/Operating plan: detail the companys key personnel as
well as their expertise and experience. Specify the companys daily operations,
facilities, overall personnel, materials and processing requirements.
1. How does your background/business experience help you in this business?
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2. What youre your weaknesses and how can you compensate for them?
3. Who will be on the management team?
4. What are their strengths/weaknesses?
5. What are their duties?
6. Are these duties clearly defined?
7. What are your current personnel needs?
8. What are your plans for hiring and training personnel?
9. What salaries, benefits, vacations, holidays will you offer?
10.

What benefits, if any, a\can you afford at this point?

Financial Plan: what are your financial needs and what are your projections for
revenues, costs and profits?
1. Plan a sound, realistic budget by determining the actual amount of money
needed to open your business (start-up costs).
2. Figure the amount needed to keep the business going (operating costs).
Start up expenses:
Personnel
Legal / professional fees
Occupancy
Licenses/permits
Equipment
Insurance
Supplies]
Advertising
Salaries/wages
Accounting
Income
Utilities
Payroll expenses

Operating budget
Personnel
Insurance
Rent
Depreciation
Loan payments
Advertising
Legal/accounting
Misc. expenses
Supplies
Payroll expenses
Salaries/wages
Utilities
Taxes
Repairs/maintenance
Dues/subscriptions/fees