Introduction To Business
- Management Sciences
- 200 level
- 3 credit units
- 151 pages
- 15 units
This course provides a foundational understanding of business principles and practices. It explores various aspects of business, including different types of business ownership, the business environment, and key functional areas such as accounting, marketing, and human resources. The course also covers legal and ethical considerations in business, as well as the role of entrepreneurship and insurance in the business world. Students will gain insights into the social responsibilities of businesses and the importance of effective communication.
About this course
- Difficulty
- Beginner
- Study hours
- 208 hours
- Maths
- Basic
- Content
- Theoretical
- Practical work
- No
- Assignments
- Tutor Marked Assignments
- Final Examination
What you'll read
The real module and unit structure of BUS205, taken from the course material NOUN publishes.
One paragraph, so you can see how it reads
BUS205 · UNIT 1: INTRODUCTION TO BUSINESS
It will be very essential that you thoroughly read the study units, consult the suggested texts and other relevant materials at your disposal. Most of the units contain Self- Assessment Exercise and Tutor-Marked Assignment the later will be assessed by your tutor.
What you should be able to do
- Describe the nature and scope of business.
- Explain different types of businesses.
- Discuss various legal issues in business.
- Explain the ethics and responsibilities of a business.
- Explain what marketing is in the business.
- Analyze the roles on business concern.
- Discuss entrepreneurship.
- Explain what insurance is all about.
What it prepares you for
- Business Manager
- Sales Representative
- Account Officer
- Entrepreneur
- Business Consultant
- Retail
- Manufacturing
- Service
- Finance
- Consulting
Where it gets hard
The units students slow down on, and what makes each one heavy.
- Module 2:
Unit 5: Legal Issues in Business Law of Contract
Understanding the nuances of contract law and its implications for business transactions requires careful attention to detail and familiarity with legal terminology.
- Module 3:
Unit 2: Accounting in Business
Accounting principles and financial statement analysis involve complex calculations and interpretations that require a solid foundation in mathematics and finance.
A suggested way through it
13 weeks, about 84 hours in total. Yours will differ.
- Week 1Module 1:
Unit 1: What is Business? · 3 hours
Define needs and wants.. Explain the role of business in providing goods and services.. Identify characteristics and objectives of a business..
Unit 2: Concept of Business Management and Administration · 3 hours
Differentiate between business administration and management.. Discuss the evolution and functions of management.. Understand management theories..
- Week 2Module 1:
Unit 3: Kind of Business (1) - Sole Trader · 3 hours
Define a sole trader.. Explain the features and sources of funds for a sole trader.. Identify advantages and disadvantages of a sole trader..
Unit 4: Kinds of Business - Partnership · 3 hours
Define partnership.. Explain how a partnership is formed.. Identify types of partners and benefits of partnership..
- Week 3Module 1:
Unit 5: Kind of Business - Joint Stock Company · 6 hours
Define a joint stock company.. Differentiate between private and public companies.. Explain the benefits and problems of both private and public companies..
- Week 4Module 2:
Unit 1: Types of Business · 6 hours
Define types of business.. Explain different types of businesses (producers, processors, manufacturers, intermediaries, service businesses).. Identify which business you can decide to embark on..
- Week 5Module 2:
Unit 2: Business Environment - General · 6 hours
Explain how the economy affects businesses.. Discuss the effect of technology on business.. Analyze the impact of the natural environment on businesses..
- Week 6Module 2:
Unit 3: Business Environment - Specific · 6 hours
Discuss the effect of employees, managers, and owners on a business.. Explain the role of financial institutions.. Analyze the impact of suppliers, customers, competitors, government agencies, and the public..
- Week 7Module 2:
Unit 4: Legal Issues on Business - Sales of Goods · 6 hours
Define sales and agreement to sell.. Distinguish sales from other contracts.. Discuss how to transfer title.. Explain breach of contract and its resolution..
- Week 8Module 2:
Unit 5: Legal Issues in Business Law of Contract · 6 hours
Define contract, its characteristics, and types.. Explain what constitutes a violation of a contract.. Discuss remedies for the violation of a contract..
- Week 9Module 3:
Unit 1: Social Responsibility of Business · 6 hours
Define social responsibility of business.. Explain the implications of social responsibility.. Discuss the case for social responsibility.. Analyze factors that account for neglect of social responsibility..
- Week 10Module 3:
Unit 2: Accounting in Business · 6 hours
Define accounting.. Differentiate various books of accounts.. State reasons why accounting is needed in business.. Define balance sheet, trading profit and loss account, and trial balance..
- Week 11Module 3:
Unit 3: Marketing in Today's Business · 6 hours
State the place of marketing in today's business.. Explain what marketing mix is.. Identify the various marketing variables.. Say what product planning involves.. Identify types of product.. State the stages involved in product life cycle..
- Week 12Module 3:
Unit 4: Communication in Business · 6 hours
Define communication.. Explain the types of communication.. Differentiate between the communication types.. Highlight the qualities of a good communication.. State the barriers to good communication..
- Week 13Module 3:
Unit 5: Entrepreneurship · 6 hours
Define entrepreneurship.. Identify who an entrepreneur is.. Identify the benefits of entrepreneurship.. Explain the disadvantages of an entrepreneur.. Define insurance.. Explain the characteristics and terms of insurable and uninsurable risk..
Unit 6: Insurance · 6 hours
Classify risk.. Function of insurance.. Insurance terms..
Preparing for the exam
- Review all unit objectives and summaries.
- Practice with self-assessment exercises.
- Focus on key concepts and definitions.
- Create concept maps linking different business areas.
- Study past examination questions.
- Allocate study time evenly across all modules.
Questions students ask about this course
What is BUS205 about?
This course provides a foundational understanding of business principles and practices. It explores various aspects of business, including different types of business ownership, the business environment, and key functional areas such as accounting, marketing, and human resources. The course also covers legal and ethical considerations in business, as well as the role of entrepreneurship and insurance in the business world. Students will gain insights into the social responsibilities of businesses and the importance of effective communication.
How many units does BUS205 have?
BUS205, Introduction To Business, has 15 units across 3 modules, over 151 pages of course material. You can read it one unit at a time.
How many credit units is BUS205?
BUS205 carries 3 credit units, at 200 level in Management Sciences.
Is BUS205 hard?
BUS205 is rated beginner level, with basic mathematical content. It is mostly theoretical work.
How long does BUS205 take to study?
About 208 hours of study, spread across its 15 units.
How is BUS205 assessed?
BUS205 is assessed by Assignments, Tutor Marked Assignments and Final Examination.
What can I do with BUS205?
Business Manager, Sales Representative, Account Officer, Entrepreneur and Business Consultant.