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BUS 5602 Essentials of Business Development 2

Course Description

Builds on 5601. Examines and uses concepts, methods and models from the functional business areas of statistics, finance, management and law. Requires students to integrate each component into a complete business plan.

Course Objectives

The objective of this course is to help business students learn fundamental business concepts and apply them by developing a business plan. This 8 week course is the second in a series of two courses. Students will learn the basics of finance, statistics, management and business law.

Week 1

Lecture: Course Introduction


  • Compute the future value of an investment made today
  • Compute the present value of cash to be received at some future date
  • Compute the return on an investment
  • Compute the future value of multiple cash flows
  • Compute the present value of multiple cash flows
  • Understand how interest rates are quoted
  • Understand EAR and APR

Week 2

Lecture: Capital Investment Decisions


  • Understand the importance of Capital Budgeting
  • Understand the NPV method and its advantages
  • Understand the Payback method and its shortcomings
  • Understand the IRR method and its strengths & weaknesses
  • Understand how to determine the relevant cash flows for a proposed project
  • Understand how to analyze a project’s estimated cash flows
  • Understand how to evaluate an estimated NPV
  • Understand the relationship between Risk and Return
  • Learn what Capital Market History tells us about Risk and Return
  • Understand the two central lessons of Capital Market History
  • Define risk premium
  • Understand an efficient capital market
  • Understand systematic and unsystematic risk
  • Discuss the benefits of diversification
  • Understand the Beta coefficient
  • Discuss SML
  • Understand CAPM

Week 3

Lecture: Statistics Introduction


  • Answer the question “Why should managers study statistics?”
  • Calculate each measure of central location
  • Understand the strengths and weaknesses of each measure of central location
  • Understand and measure range, IOR and standard deviation
  • Create histograms, box plots, bar charts, pie charts and line charts
  • Interpret a scatter plot, and two statistics: the correlation coefficient and the coefficient of determination (r2)
  • Describe the main characteristics of a normal distribution, compute and interpret z-scores and calculate probabilities using the standard normal distribution
  • Understand the concept of statistical inference

Week 4

Lecture: Statistical Inference


  • Discuss the fundamentals of experimental design and analysis
  • List the key ideas associated with statistical hypotheses, how to formulate hypothesis tests and the role of probability in assessing the strength of sample evidence
  • Perform hypothesis tests for samples with a single population and more than one population
  • Perform hypothesis tests on samples with unrelated or related groups
  • Describe the basics behind ANOVA testing and multiple regressions

Week 5

Lecture: Management Introduction


  • List the four functions of management and the roles of a manager
  • Discuss the causes behind the global shift in the business world
  • Describe the factors that a manager must consider before entering the global environment
  • Explain the aspects and differences between vertical and horizontal organization structure
  • Compare and contrast the three types of departmentalization

Week 6

Lecture: Human Resources


  • Describe the HR process
  • Understand the benefits of using teams
  • Describe the types of teams
  • Understand the problems that can arise from using teams and the management strategies that can be used to deal with the problems
  • Describe the benefits of MIS

Week 7

Lecture: Business Law Introduction


  • Describe a property-based legal system
  • Discuss the sources of law
  • List the sources of values for business ethics
  • Summarize the principles of contract law

Week 8

Lecture: Agency Law


  • Understand the principles of agency law
  • Name the factors you need to consider when selecting a business organizational firm
  • Know different types of business organization firms
  • Be able to explain the important concepts in the Sherman Act and Clayton Act
  • Describe the role of the FTC
  • Understand and explain the importance of the Sarbanes-Oxley Act of 2002, the Securities Act of 1933, and the Securities Exchange Act of 1934
  • Understand the major items covered by US Employment Law
  • Understand the importance of the Wagner Act and the Taft-Hartley Act

The course description, objectives and learning outcomes are subject to change without notice based on enhancements made to the course. May 2011