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16 Pages

Lecture 1

Course: BMGT 110, Spring 2012
School: University of Maryland
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Coursehero >> Maryland >> University of Maryland >> BMGT 110

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110 BMGT Introduction to the Business Value Chain Prof. Howard Frank, Ph.D. Professor of Management Sciences hfrank@rhsmith.umd.edu Darshan Mody 2nd Year MBA Candidate (darshan.mody@rhsmith.umd.edu) Required Texts 1) Understanding Business, Nickels, McHugh and McHugh, 9th Edition, McGraw-Hill Irwin, 2008. ISBN 978-0-07351171-9 Objectives of BMGT 110 Functional areas of business, as essential skills: marketing, finance, accounting, information systems, supply chain managent, management and organization. Globalization Business Ethics Management of Technology Entrepreneurship and Leadership Historical evolution of modern models of business and management Student Expectations and Requirements Academic Integrity "I pledge on my honor that I have not given or received any unauthorized assistance on this examination (assignment)." Class Preparation Special Needs Grading Quiz #1 10% Quiz #2 10% Quiz #3 10% Quiz #4 10% Quiz #5 10% +voluntary make up quiz/(or can replace lowest quiz grade) Pop Quizes 20% Final Exam 30% Extra Credit: Class Participation up to10% Extra Credit Class Participation: 0 or 1: Missed Classes 10% 2: 9% 3: 8% 4: 7% 5: 6% 6: 5% 7 or more: 0% If you are not present in class after you have been signed in, you lose credit for attendance. No Laptops or Cellphones during Lecture or Films Class Schedule and Content 26-Jan Introductions, Goals and Plans Nickels Ch. 1 2-Feb Basic Economics and Economic Systems Nickels Ch. 2 7-Feb Business Ownership Nickels Ch. 5 7-Feb Entrapreneurship Nickels Ch. 6 9-Feb Review for Quiz 1 14-Feb Quiz 1 (Ch. 1,2,5,6) 16-Feb Management and Organization Nickels Ch. 7 Management and Organization Nickels Ch. 8 2/1621-Feb Management and Organization Nickels Ch. 8 2/23Supply Chain Management 2/28 1-Mar Quiz 2 (Ch. 7,8,9) 6-Mar Marketing Nickels Ch. 9 Nickels Ch. 13 8Mar 13Mar 15Mar 3 /20 Marketing Nickels Ch. 14 Marketing Nickels Ch. 15 Marketing Nickels Ch. 16 Quiz 3 ( Ch. 13, 14, 15, 16) 27- Accounting and Finance Mar Nickels Ch. 17 29- Finance Mar Nickels Ch. 18 3- Finance Apr Nickels Ch. 19 5- Quiz 4 (Ch. 17, 18, Apr 19) 4/5Information Systems 4/17 19- Human Apr Resources/Employee Management 24- Optional Topic Apr 26- International/Global Apr Business 1- Business Ethics May 3- Quiz 5 (ch 3, 4, Bonus 10, May Ch. B, film Transformation Age 8May 10May 5/17 Optional Make-up Quiz 6 Wrap up and Final Exam Review Last Day of University Classes Final Exam 1:30-3:30 Frank Auditorium Nickels Bonus Ch. B, view film at: w ww.rhsmi th.umd.edu/ transformationage/ Nickels Ch. 10 Nickels Ch. 3 Nickels Ch. 4 Objectives of Business Survival Growth Profit Social Social Responsibility Responsibility Some Definitions Goods -- Tangible products such as computers, food, clothing, cars and appliances. Services -- Intangible products that cant be held in your hand like, education, healthcare, insurance, recreation and travel. Business -- Any activity that seeks to provide goods and services to others while operating at a profit. Entrepreneur -- A person who risks time and money to start and manage a business. Some Definitions Revenue -- The total amount of money a business takes in during a given period by selling goods and services. Profit -- The amount of money a business earns above and beyond what it spends for salaries and other expenses. Loss -- Occurs when a business expenses are more than its revenues. Risk -- The chance an entrepreneur or business takes of losing time and money on a business that may not prove profitable. Some definitions Stakeholders -- All the people who stand to gain or lose by the policies and activities of a business and whose concerns the businesses need to address. Outsourcing -- Contracting with other companies (often in other countries) to do some of the firms functions Insourcing -- Foreign companies opening offices and factories in the United States. Whats the difference between revenue and profit? Whats the difference between standard of living and quality of life? Whats risk? How is it related to profit? What do the terms stakeholders, outsourcing and insourcing mean? Business Environment Global Business Social Economic & Legal Technology Competitive Trends in Business Rise of Information & Communication Technology Globalization Self-Directed, Empowered Employees Communication Skills Doing Business 24/7 Decision-Making Skills Educated Consumers Teamwork Aging Workforce Increasing Diversity Leadership Continual Learning Pyramid vs. Web Source: Keying In- Newsletter of the National Business Education Association, March 2003

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