This course gives the students a comprehensive background to essential concepts of business within an organizational, managerial and financial context. Real world examples will be used to teach business concepts. The course will also be divided into parts like firms, business environment, markets, management, as well as international issues under such divisions relevant issues would be tackled according to the needs of the present and the near future.
- Explain the needs of different stakeholders in a business; owners/shareholders, customers, employees, management, suppliers, creditors and government.
- Understand the inputs required by a business; labor, suppliers, finance, land, management skills.
- Analyze accountability; owners/shareholders and other Stakeholders.
- Categorize businesses by sector; primary, secondary, tertiary.
- Understand the different objectives that exist in a business and appreciate the different stakeholder perspectives.
- Understand how the external environment creates opportunities and threats for a business.
- Learn the factors that influence the scale of production, the location of production and the choice between different types of production process.
- Analyze the need for, and describe the means of, achieving control over quality and stock levels in production.