BUSINESS ADMINISTRATION The Business and Economics Division offers a major in Business Administration.  The degree program emphasizes the effective development of the student by providing in depth training in the major field. GENERAL OBJECTIVES Generally, Business and Economics directs students into those experiences which will: Teach them how to analyze information critically and to think logically. Develop a knowledge of economic theories: How the economic system affects the individual and the concepts and principles of global economies. Demonstrate the ability to use various methods of inquiry. Provide the training necessary to acquire the skills, knowledge and understanding to enhance their appreciation of the role of business in our economy. Provide background training for such fields as law, government services, and business. Stimulate the intellectual curiosity of students as they develop new knowledge. Attract and retain high quality students in enrichment programs. Sponsor activities that enhance students’ professional, social, and moral development. Promote an understanding of the social, economic, and cultural environment in which we live and businesses operate. Provide practical management learning experiences through cooperative and/or internship programs. Foster an awareness of the global issues facing decision makers. SPECIFIC OBJECTIVES Specifically, each student will be able to demonstrate the following: Knowledge of accounting, management, marketing, finance, statistics, economics, and  computer-based data processing. Entry level competence for management in business, government, education and religious employment. Competence for graduate or professional studies. Knowledge of motivational techniques, leadership principles and the ability to work with and through groups for accomplishment of the objectives. Sound work habits and self-confidence. COMPETENCIES Upon completion of this program, students will be able to demonstrate the following competencies: Application of accounting principles and record keeping skills to generate the financial statements needed by the business community. Analysis of financial statement information for the acquisition, allocation, and maintenance of financial capital. Identification of capital and financial markets and how to gain access to them. Understanding of the banking systems in this country and knowledge of how to utilize them. Understanding of microcomputers and their applications. Understanding of business law and its application to the legal environment of business. Demonstration of knowledge of the marketing process and ability to conduct marketing surveys. Application of basic economic principles and understanding of the economy by which global business operates. Planning and operation of a small business. POLICIES AND REGULATIONS Student Responsibility – It is the responsibility of the student to remain informed of the status of their programs.  The Allen University catalog establishes academic requirements that must be met before a degree is granted.  The catalog outlines the criteria and standards by which students progress toward a degree at Allen University.  For this reason, it is important for each student to acquaint himself/herself with all academic requirements throughout his/her University career and to be responsible for completing all such requirements within prescribed deadlines and limits.  Grade Point Average – A grade of a “C” or better is required for credit in all business courses. Prerequisites – All students must adhere to the prerequisite requirements.  COURSE DESCRIPTIONS ACT 231 PRINCIPLES OF ACCOUNTING I   Credit 3 hrs. This course introduces the basic principles and procedures of accounting for a sole proprietorship.  Emphasis is placed on collecting,s ummarizing, analyzing, and reproting financial information.  Topics include the complete accounting cycle with end-of-period financial statements, bank reconciliation, payrolls, and petty cash.  ACT 232 PRINCIPLES OF ACCOUNTING II   Credit 3 hrs. Prerequisite: ACT 231 This course is a continuation of ACT 231.  Emphasis is placed on corporate and managerial accounting for both external and internal reporting and decision-making. ACT 321 COST ACCOUNTING   Credit 3 hrs. Prerequisite: ACT 232 This course covers accounting of production management.  Cost systems and internal control standard costs, inventory planning, control, and capital budgeting are covered.  Special attention is given to the use of accounting data as an aid to management planning. ACT 432 MANAGERIAL ACCOUNTING   Credit 3 hrs. Prerequisite:  ACT 232 Introduces managerial accounting concepts, analysis, and practices that support business decisions through class discussions, exercises, and demonstration problems.  Specific topics covered include budgeting, cost management and behavior, cost-volume-profit analysis, relevant costs for decision-making, cost allocation issues include ABC, and performance reporting.  Requires a field project examining cost issues in a business entity. BUS 200 INTRODUCTION TO BUSINESS   Credit 3 hrs.  This course surveys many aspects of basic business concepts, principles and other issues, and reveals what happens in today’s global business practices. BUS 201 ECONOMICS I   Credit 3 hrs. This course introduces economic theory and principles of supply and demand with a focus on economic decision making of firms and individuals in the market. BUS 202 ECONOMICS II   Credit 3 hrs. Prerequisites: BUS 201 This course covers economics as it relates to the structure of the market.  Tools and methods of microeconomics analysis are reviewed.  The course relates the use of such analysis to business decision-making.  BUS 203 MICROCOMPUTER APPLICATIONS   Credit 3 hrs. This course is designed to prepare students for courses in information systems, business, accounting, math and physics or related fields where learning to use software applications as a problem solving tool is necessary.  The course provides students with hands on microcomputing experience so that they may become proficient with the application software.  The course is designed for students who have had little or no exposure to the computer and its fundamentals. BUS 204 INTRODUCTION TO COMPUTERS & NETWORKING   Credit 3 hrs. This is a fundamental course in developing hands on computer literacy, and covers such topics as computer systems, including major components, operating systems, application programs, and  networking.  The course emphasizes the use of standard computer tools such as word processors, e-mail, and web browsers. BUS 205 BUSINESS MATHEMATICS   Credit 3 hrs. The course emphasizes competency of mathematics skills and computations encountered in the business world. BUS 331 INTERMEDIATE ACCOUNTING I   Credit 3 hrs. Prerequisite: ACT 232 This course is a detailed study of the theory of accounts, the techniques of accounting, and also includes an in depth study of balance sheets and the problems of recording and tracing valuation.  BUS 381 SPREADSHEET SOFTWARE   Credit 3 hrs. Prerequisite: BUS 203 This course covers the intermediate and advanced uses of microcomputer spreadsheet software. BUS 382 FUNDAMENTALS OF COMPUTER PROGRAMMING   Credit 3 hrs. Prerequisites: BUS 200 and BUS 204 This course is designed to introduce problem solving skills using a high-level programming language.  Focus is on basic techniques such as data types, control structures, interaction, input/output, and procedural abstraction.  BUS 391 BUSINESS STATISTICS I   Credit 3 hrs. This course covers probability and descriptive statistics.  Case studies are used to apply concepts of inferential statistics and hypothesis testing.  BUS 392 BUSINESS STATISTICS II   Credit 3 hrs. Prerequisite: BUS 391 This course is a continuation of BUS 391.  Regression analysis of variance, time series, and nonparametric statistical tests are covered. BUS 401 BUSINESS LAW I   Credit 3 hrs. This course introduces the student to the nature of legal rights and obligations as they relate to business.  The course covers the origin and development of the law as well as the role of courts and legal procedures. Introduction to legal reasoning and legal writing, and issues of commercial liability and transactions are also covered.  Emphasis is on the fundamentals of contracts used throughout all business negotiations and the Uniform Commercial Code. BUS 402 BUSINESS LAW II   Credit 3 hrs. Prerequisite: BUS 401 or Permission of Instructor This course is a continuation of BUS 401.  Sales agreements, creditors and debtors, agency relationships, and property are covered.  A review is made of the provisions of the Uniform Commercial Code as they apply. BUS 404 SENIOR SEMINAR   Credit 3 hrs. Prerequisite: Senior standing and Permission of Instructor This course is designed to provide in depth analysis of a major problem area in business.  In addition to the other requirements, each student is required to write an acceptable exit paper as a condition for graduation. BUS 417 PRODUCTION AND OPERATIONS MANAGEMENT   Credit 3 hrs.  This course is a study of the methodologies of plant design and location, characteristics of production processes, aggregate planning and production control, facility and technology planning, trade-off analysis, and the role of time, motion, and job analysis are discussed. BUS 447 CONSUMER BEHAVIOR   Credit 3 hrs. Prerequisite: MKT 341 This course is a study of consumer behavior patterns with emphasis on the implication for marketing analysis and executive action. BUS 475 BUSINESS INTERNSHIP   Credit 3-6 hrs. This course provides supervised work experience involving a wide variety of activities related to the student’s specific area of interest.  College credit will be assessed on the nature and length of the assignment.  Credit cannot exceed 6 hours. BUS 481 MANAGEMENT INFORMATION SYSTEMS   Credit 3 hrs. Prerequisite: BUS 381 This course covers basic concepts of design, implementation, and application of computer based management information.  BUS 491 BUSINESS POLICY   Credit 3 hrs. This course provides an overview of a general management strategy involving corporate strategy, planning policy formulation, decision making and forecasting.  Simulations include computer model and case studies.  It is intended to be taken in the senior year of study. FIN 360 BUSINESS FINANCE   Credit 3 hrs. Prerequisites: ACT 232 or BUS 202 This course provides an introduction to financial institutions and securities markets.  It is concerned with the study of the nature of financial markets in the United States and how they are affected by national and global trends.  Topics include:  (1) basic financial terminology and transactions analysis; (2) structure and operation of financial institutions, institutions and the regulatory environment; (3) financial securities markets, securities prices, and interest rates; and (4) financial risk. FIN 364 MANAGERIAL FINANCE   Credit 3 hrs. Prerequisites:  ACT 232 or FIN 360 This course provides students the opportunity to gain knowledge of the advance tools and concepts used in the financial management of the firm.  Topics include inventory and credit policies, risk, capital budgeting, financial structure, cost of capital, dividend policy, and valuation of a firm.  Overall financial strategy and timing of its implementation are also examined.  Specialized topics, mergers and acquisitions, financial failure, and financial policy for multinational firms may be considered in the course. FIN 366 INVESTMENT MANAGEMENT   Credit 3 hrs. Prerequisites:  ACT 232 and FIN 360 This course presents a broad overview of the concepts, practices, and procedures of investment management. It covers basic security types, security market operations, security analysis (both fundamental and technical), and an introduction to portfolio management. FIN 461 RISK MANAGEMENT AND INSURANCE   Credit 3 hrs. This course emphasizes the functional area of corporate risk management.  It covers such areas as organizing and controlling the risk management function; identifying, measuring, controlling, and financing risk; selecting the best method of risk treatment, and implementing and monitoring risk management.  Topics of exposure analysis include property, liability (public, employer, products, officers and directors, and professionals), and extraordinary expense losses.  Treatment methods such as self-insurance, off-shore captive, retention groups, and commercial insurance are also covered.  The course includes recent developments such as tort reform integration of risk management with modern financial theory, as well as implications and analysis of recent tax reforms.   FIN 462 MONEY AND BANKING  Credit 3 hrs. This course covers basic concepts, tools and facts needed to understand the functioning of financial markets. It begins with the study of basic concepts and formulas for the valuation of securities, as well as the determination of the various interest rates. The role of Central Banks and the conduct of monetary policy are examined. Some of the institutional details of the U.S. economy are briefly reviewed.  The course addresses the most fundamental aspects of portfolio theory, and topics on the economics of financial intermediation, such as incentive problems in bank-borrower relationships, models of bank panics and implications for banking regulations. FIN 466 MODERN PORTFOLIO MANAGEMENT   Credit 3 hrs. Prerequisites: ACT 232 and FIN 366 or Permission of Instructor This course analyzes the process of constructing and managing an asset portfolio to meet stated objectives.  It exposes students to theoretical models of portfolio choice and statistical analysis of appropriate data.  The course offers students an opportunity to design a portfolio that combines theory with the practice of portfolio management in an international context and also covers performance evaluation. FIN 499 RESEARCH PROJECTS/BUSINESS INTERNSHIP   Credit 3 hrs. Prerequisites: Graduating Senior This course provides supervised research project/work experience involving a wide variety of activities related to the student’s specific area of interest.  College credit will be assessed on the nature and length of the assignment.  Credit cannot exceed 6 hours. MKT 341 PRINCIPLES OF MARKETING   Credit 3 hrs. Prerequisite: BUS 200 or Permission of Instructor This course is concerned with the functions of the marketing process, channels of distribution, role of the middleman and the relationship between producer and consumer.  A marketing survey is required.  MKT 346 FUNDAMENTALS OF E-BUSINESS   Credit 3 hrs. Prerequisite: MKT 341 In this course you will examine the history of the Internet and its influence on E-Commerce; the validity of E-Commerce, and why it is increasingly being integrated into the business model. You will also explore the fundamental business concepts as they relate to E-Commerce, such as customer relationship management; e-procurement; security and staffing issues; planning; metric identification techniques for measuring the success of E-Commerce initiatives; marketing strategies on the World Wide Web; and information on E-Commerce software, hardware, and service providers.  After completing this course, students will be able to outline how information flows between E-Commerce systems using the Simple Information Flow model and examine the types of E-Commerce activities that are part of the E-Commerce world. MKT 425 MARKETING MANAGEMENT   Credit 3 hrs. Prerequisite: MKT 341 This course examines how marketing managers research, communicate, price and distribute product and service offerings to profitably satisfy targeted customer segments in a dynamically changing global environment.  The major objective of this course is to develop the knowledge and skills necessary to formulate, implement and control marketing strategies, within the context of the external international environment and the firm.  A supplement to that objective is to continue to develop interpersonal, communication and teamwork skills to facilitate the main objective on the job.  The class is based on theory with a significant commitment to practice. MKT 446 ADVERTISING   Credit 3 hrs. Prerequisite: MKT 341 This course is a study of advertising principles with practical application to retailing.  Emphasis is given to different types of advertising media and their applications to various uses in business.  MKT 447 CONSUMER  BEHAVIORS   Credit 3 hrs. Prerequisite: MKT 341 This course is a study of consumer behavior patterns with emphasis on the implication for marketing analysis and executive action are studied. OGM 311 PRINCIPLES OF MANAGEMENT   Credit 3 hrs.  Prerequisite:  BUS 200 or Permission of Instructor This course provides the student with complex business scenarios to analyze and manage.  A comprehensive survey is made of the principles of management applicable to all forms of business.  Emphasis is on organizational process, leadership, motivational theories, and time management.  OGM 314 BUSINESS COMMUNICATION    Credit 3 hrs.  Prerequisite:  BUS 200 This course develops the principles, procedures and practices of clear communication in letter and report writing.  Resume writing and preparation for job interview are also emphasized. OGM 315 MANAGEMENT OF NON-PROFIT ORGANIZATION   Credit 3 hrs. Prerequisite: OGM 311 The course is an analysis of the tasks, responsibilities and practices that result in effective management of non-profit organizations. Topics include mission, development, and leadership. OGM 338 BUSINESS VALUES AND ETHICS   Credit 3 hrs. Prerequisite: OGM 311 This course deals with the environment serving organization output.  Topics included are impact of the societal issues on management of environment serving organizations, stakeholder identification and analysis, ethical issues in the relationship between the organization and the environment serving organizational strategy, social responsibility strategy, legitimacy strategy and building a socially responsive environment serving organization. OGM 372 SMALL BUSINESS MANAGEMENT   Credit 3 hrs. Prerequisite: OGM 311 This course is a study of small business.  Topics include starting a new business, operating and managing a small business, the role of small business in the economy and aspects of government assistance.  OGM 376 HUMAN RESOURCE MANAGEMENT   Credit 3 hrs. Prerequisite: BUS 371 or Permission of Instructor This course develops an understanding of personnel administration as a staff function through a study of modern day concepts and practices.  Topics include employee selection, behavior modification, training, education, evaluation, and compensation.  Special projects will allow for hands on experiences where possible.   REM 252 PRINCIPLES OF REAL ESTATE   Credit 3 hrs. This course provides an analytical study of the technical and legal aspects of real property ownership, including factors that determine the economic value and productivity of real estate; governmental regulations applicable to land utilization; the nature of real estate business; and the prerequisites for transfer of title, financing, and leasing.