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Course Description

Introduction to Fundamentals of Business Management

The world of business management offers an array of career opportunities unparalleled among income earning possibilities. Industries from mining to waste disposal have management-level positions in many companies. Business management requires a combination of skills and knowledge, coupled with good judgment and leadership qualities. There are several fundamental aspects of operating a business – whether you run your own small business or hold a management position in a national corporation – that a manager should be aware of.  Our course takes you through some of the various requirements you may encounter while managing a business.

We begin by examining the various disciplines and levels in business management and give you hints on how to get a management job in your company. In lesson 2 we cover areas of financial management such as types of capital, debt and equity financing alternatives, a business plan and a budget. Lesson 3 deals with legal and regulatory compliance issues.  Human resources and personnel issues are discussed in Lesson 4.

Sales management fundamentals – the sales cycle, customer relationships and pricing – make up lesson 5. We examine the marketing functions (lesson 6) right after sales functions because the two disciplines work hand-in-hand to drive business. Lesson 7 covers some key accounting principles and practices. Inventory control techniques make up Lesson 8, focusing on the role of inventory control, the processes involved and control mechanisms used.

Lesson 9 "Taxes and Your Business Organization" delves into types of organization and some key business tax requirements. Order fulfillment follows the purchase from sales inquiry to delivery in Lesson 10, and explains how fulfillment is important to customer relationships.  We finish with lesson 11 explaining the importance and function of information technology. Once completed, you will have a basic understanding of how to manage a business.

Course Requirements

This course will not require you to have previous experience in any particular area but you should have a high school reading level. No books will be required.

Course Goals

  • Lesson 1 : Business Basics
  • Lesson 2 : Financial Management
  • Lesson 3 : Legal / Regulatory Compliance
  • Lesson 4 : Personnel Management
  • Lesson 5 : Sales Management
  • Lesson 6 : Marketing Practices
  • Lesson 7 : Accounting Principles
  • Lesson 8 : Inventory Control
  • Lesson 9 : Taxes and Your Business Organization
  • Lesson 10 : Fulfillment
  • Lesson 11 : Information Technology

Course Materials

All course material will be provided in the lessons and netlinks. There are no required materials to purchase before taking the class.

Grading Policy

Each lesson will include a lesson review quiz along with one or two assignments. Students will successfully complete this course by mastering all learning outcomes with 70% or higher overall grade.

Learning Outcomes

By successfully completing this course, students will be able to:
  • Describe the basic functions needed to run a business.
  • Describe financial management systems within a business.
  • Describe personnel management within a business.
  • Know sales management within a business.
  • Describe common marketing practices within a business.
  • Describe the accounting principles of a business.
  • Describe inventory control, fulfillment, taxes, and organization of a business.
  • Describe the critical role of Information Technology in a business, and
  • Demonstrate mastery of lesson content at levels of 70% or higher.

Assessment Guide

Assessment Points
An Introduction1
Lesson 1: Basics of Business Management5
Quiz for Lesson 1 : Business Basics10
Lesson 2: Financing and Significance of Business Planning5
Quiz for Lesson 2 : Financial Management10
Quiz for Lesson 3 : Legal / Regulatory Compliance9
Lesson 4: Basics of Human Resources Management5
Quiz for Lesson 4 : Personnel Management10
Quiz for Lesson 5 : Sales Management10
Lesson 6: Marketing a Product5
Quiz for Lesson 6 : Marketing Practices9
Lesson 7: Accounting or Record Keeping5
Quiz for Lesson 7 : Accounting Principles10
Quiz for Lesson 8 : Inventory Control5
Lesson 9: Taxes and Organizational Structure5
Quiz for Lesson 9 : Taxes and Your Business Organization9
Quiz for Lesson 10 : Fulfillment10
Quiz for Lesson 11 : Information Technology9
The Final Exam52
Total Points:184

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