Business Foundations

Description

This program is an introduction to management, leadership, and the basic concepts of entrepreneurship (starting, financing, growing, and running a successful business). It provides theoretical and practical frameworks for the realities of starting and running a business in a global economy. Topics include business structure, financial management, financing operations, growth and leadership, business practices and protocol, and cultural aspects of doing business in today's world. The program will explore how organizations are defined, legally and financially, and advantages and disadvantages of each type. Using seminar, case studies, simulations, guest speakers, discussions and assigned tasks, we will focus on strategic planning, organizational development, forecasting, budgeting, startup funding, and financial management. Students will build the foundations for a solid understanding of how businesses work and how to manage and lead. These foundations are essential for developing the confidence, objectivity, and vision necessary to make effective decisions both as an individual and as a leader.

In fall, the program covers basic concepts and practices of entrepreneurship small business management, and leadership. Winter covers financial and managerial accounting, financial statement analysis, and internal control systems and the significant roles they have in making sound business decisions, and in the management of a business. Students will learn how to use QuickBooks accounting software. In spring, the program continues its quantitative focus covering financial statement and ratio analyses to access company performance and to find the real cost of raising money (cost of capital) in the debt equity (stock) markets.

This program promotes financial intelligence and quantitative reasoning using case studies as a way to "look through" nicely ordered numbers for clues to potential problems and to interpret and convey financial data clearly, concisely, and accurately. Excel is used for assignments, so the complexities of calculation will not be an impediment to learning and will allow students to concentrate on analytical thinking.