College of Micronesia-FSM

P. O. Box 159
Kolonia, Pohnpei FM 96941
Course Outline Cover Page

Introduction to Business BU 101

Course Title Department and Number

Course Description:
Builds on the understanding of contemporary business and its environment; management,
organization, marketing, and financing the organization. Coverage of the basic FSM laws and
regulations in business are also included.

Course Prepared by: Business Administration State Pohnpei -national campus

Hours per Week No. of Week Total Hours Semester Credits

Lecture _____3_____ x _____16_____ = ___48/16___ = _____3_____
Laboratory ___________ x ____________ = ___________ = ___________
Workshop ___________ x ____________ = ___________ = ___________

Total Semester Credits = _____3_____

Purpose of Course: Degree Requirement ________________

Degree Elective ________________
Certificate ________________
Remedial ________________
Other (workshop) ________________

Prerequisite Course(s): _ESL 089__________________________________________

__________________________________________________

Signature, Chairperson, Curriculum Committee 12/1/98

Date Approved by Committee
SUSAN MOSES 12/23/98
Signature, President, COM-FSM Date Approved by President

Introduction to Business (BU 101) Course Outline

A. General Objectives
 To build on the understanding of contemporary business and its environment;
management, organization, marketing, and financing the organization. Coverage of the
basic FSM laws and regulations in business ate also included.

B. Specific Objectives:

The student will be able to:

1. Explain what a business is and how it operates in a free market system. Discus the
concept of social responsibility in business.

2. Discuss inflation and unemployment and how monetary and fiscal policy are used to
combat them. Differentiate between macroeconomics and microeconomics.

3. Identify and explain the three basic forms of business ownership. Identify the levels of
management and skills required for managerial success.

4. Describe the concept of human resource planning and outline the major steps involved
in the process. Explain how each step in the recruitment and selection process contributes
to finding the right person for the job.

5. List the major functions of marketing. Discuss how marketing’s role in the exchange
process creates utility.

6. List the components of the total product concept. Identify the types of consumer
goods, industrial goods, and services.

7. Explain the objectives of promotion and the concept of a promotional mix.

8. Describe the functions of accounting and its importance to the firm’s management
and to outside parties such as investors, creditors, and government agencies.

9. Identify the major categories of financial institutions and the sources and uses of those
funds.

C. Text:

Louis Boone and David Kurtz; Contemporary Business. Dreden Press (subsidiary of
HBJ). Ninth Edition.

D. Methods of Instruction:

Lectures, guest speakers, projects, practice sets, and various individual and group
assignments.
E. Course Content:

I. Contemporary Business and its Environment

II. The Structure of Business

III. Management and Organization

IV. The Human Resource

V. Marketing Management

VI. Information for Decision Making

VII. Financing the Enterprise

E. Evaluation:

Grades will be assigned based on the following percentage of total points received
from exams, projects, quizzes, practice sets, and the midterm and final exam:

A.........................................................................90% to 100%
B.........................................................................80% to 89%
C.........................................................................70% to 79%
D.........................................................................60% to 69%
F..........................................................................59% and BELOW

G. Attendance Policy:

The COM-FSM Attendance Policy will be observed. Seven absences will result
in automatic withdrawal from classes. Any homework assigned must be turned in
on time regardless of attendance. No quizzes or exams can be made up without a
valid medical excuse.