BHM 725 INTRODUCTION TO BUSINESS

Topics: Business, Limited liability company, Corporation Pages: 156 (50607 words) Published: April 4, 2015
NATIONAL OPEN UNIVERSITY OF NIGERIA

SCHOOL OF MANAGEMENT SCIENCES

COURSE CODE: BHM 725

COURSE TITLE: INTRODUCTION TO BUSINESS

COURSE DEVELOPMENT

BHM 725

INTRODUCTION TO BUSINESS

COURSE GUIDE

Course Developer/
Writer

S. O. Israel-Cookey
National Open University of Nigeria
Lagos.

Course Editor

Programme Leader

Dr. O. J. Onwe
National Open University of Nigeria
Lagos.

Course Coordinator

Mrs. Ihuoma Efughi
National Open University of Nigeria
Lagos.

NATIONAL OPEN UNIVERSITY OF NIGERIA

CONTENTS
1.0

Introduction

2.0

Course Contents

3.0

Course Aims

4.0

Course Objectives

5.0

Course Materials

6.0

Study Units

7.0

Assessment
7.1 Tutor-Marked Assignments
7.2 Final Examination and Grading

8.0

Summary

1.0

INTRODUCTION

BHM 725: Introduction to Business is a semester coursework of two credit units. It is available to all learners in the Postgraduate Diploma (Business Administration) programme of the School of Management Sciences. The course is basically concerned with introducing you into the world of business theory and practice.

The course guide tells you what you will learn in this course, the course aims and objectives, and the materials and support that you require to make your study very successful. Also, this course guide contains information on assessment which consists of the Tutor-Marked Assignments and the Final Examination.

2.0 COURSE CONTENTS
The course contents include: The Nature of Business; Basic Forms of Business Ownership; The Environment of Business; Types of Businesses; Management in the Business Enterprise; Finance in Business; Marketing in Business; Marketing in Business; Accounting in Business; Communication in Business; Entrepreneurship and the Business Enterprise; Control and Regulation of Business; Legal Issues in Business: Law of Contract; Legal Issues in Business: Sale of Goods; Business Social Responsibility; and Business Ethic

3.0

COURSE AIMS

This course is aimed exposing you to the complex world of business theory and practice. Business can be said to be an economic activity which is related with continuous and regular production and distribution of goods and services for satisfying human wants. It is an economic system in which goods and services are exchanged for one another or money, on the basis of their perceived worth. Every business requires some form of investment and a sufficient number of customers to whom its output can be sold at profit on a consistent basis. The business enterprise performs the following functions:

• Marketing;

4.0



Production;



Finance;



Accounting; and



Personnel.

OBJECTIVES

On the successful completion of this course, you will be able to:










































define business;
highlight the features/characteristics of business;
discuss the beneficiaries of business;
say what a business enterprise mean;
enumerate and explain the objectives of a business enterprise; explain the structure of a business enterprise;
discuss the stakeholders in the business enterprise;
list the distinguishing features of each of the three basic forms of business organizations – Sole Proprietorship, Partnership, and Limited Liability Company; define a Company in law;
enumerate the strengths and weaknesses of the three basic legal forms of business organizations;
define business environment;
discuss the nature of business environment;
explain environmental scanning;
define types of businesses;
explain the features of the types of businesses;
define management;
differentiate between efficiency and effectiveness;
state the role of management in business;
define and state the role of a manager;
describe the concept management structure;
discuss hierarchy of authority;
define and explain the concept management objectives;...
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