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Understanding the Business Environment
Debora Sepich
Debora Sepich
This course introduces the functional concepts of business in terms of economic systems, global markets, corporate social responsibility, and the importance of small businesses to the American business system. Although the functional areas of business will be the core of the course, it is not intended to present those areas in depth. Instead, all functional areas will be addressed using a stakeholder lens allowing students to become familiar with how and why businesses operate the way they do.
Read more
This course introduces the functional concepts of business in terms of economic systems, global markets, corporate social responsibility, and the importance of small businesses to the American business system. Although the functional areas of business will be the core of the course, it is not intended to present those areas in depth. Instead, all functional areas will be addressed using a stakeholder lens allowing students to become familiar with how and why businesses operate the way they do.
Read more
This course introduces the functional concepts of business in terms of economic systems, global markets, corporate social responsibility, and the importance of small businesses to the American business system. Although the functional areas of business will be the core of the course, it is not intended to present those areas in depth. Instead, all functional areas will be addressed using a stakeholder lens allowing students to become familiar with how and why businesses operate the way they do.
What you'll learn
- Demonstrate a basic understanding of business.
- Define capitalism and explain the basics of how free markets work
- Discuss the forces that affect trading in global markets.
- Define corporate social responsibility and its impact upon various stakeholders.
- Discuss the importance of small business in the American economy.
Register for this course and see more details by visiting:
OpenCourser.com/course/iuuxtq/understanding
What's inside
Learning objectives
- Demonstrate a basic understanding of business.
- Define capitalism and explain the basics of how free markets work
- Discuss the forces that affect trading in global markets.
- Define corporate social responsibility and its impact upon various stakeholders.
- Discuss the importance of small business in the american economy.
- Demonstrate a basic understanding of business.
- Define capitalism and explain the basics of how free markets work
- Discuss the forces that affect trading in global markets.
- Define corporate social responsibility and its impact upon various stakeholders.
- Discuss the importance of small business in the american economy.
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Examines current business functionality standards
Develops operational understandings through a stakeholder perspective
Explores economic principles accessible to novices
Applies economic theories to understandings of global markets
Considers corporate social responsibility in its relation to business functions
Emphasizes the significance of small businesses within the American economy
Save this course
Save Understanding the Business Environment to your list so you can find it easily later:
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Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Understanding the Business Environment with these
activities:
Review Basic Math Skills
Show steps
Refresher for key mathematical concepts will provide a solid foundation for understanding financial and quantitative aspects of business.
Browse courses on
Math
Show steps
-
Review basic arithmetic operations
-
Practice solving equations and inequalities
-
Get comfortable with graphing and interpreting data
Explore Online Resources
Show steps
Familiarizing yourself with online resources will expand your knowledge beyond the course material, enriching your understanding of business concepts.
Browse courses on
Free Markets
Show steps
-
Identify reputable websites, articles, and videos that cover the topics discussed in the course
-
Review the content and make notes on key points
Review Course Materials
Show steps
Regularly reviewing course materials will enhance your retention and understanding of business concepts.
Show steps
-
Go through lecture notes and slides
-
Read assigned textbooks and articles
-
Review quizzes and exams
Five other activities
Expand to see all activities and additional details
Show all eight activities
Discuss Course Concepts
Show steps
Engaging in discussions with peers will provide diverse perspectives and strengthen your understanding of business concepts.
Show steps
-
Join study groups or online forums
-
Share ideas, ask questions, and engage in thoughtful discussions
Analyze Case Studies
Show steps
Analyzing case studies will enable you to apply the concepts you learn to real-world scenarios, enhancing your understanding of how businesses operate.
Browse courses on
Corporate Social Responsibility
Show steps
-
Read the case study and identify the challenges and opportunities faced by the organization
-
Apply the course concepts to analyze the situation
-
Propose solutions and recommendations based on your analysis
Summarize Key Concepts
Show steps
Regularly summarizing key concepts will allow you to reinforce your understanding of the core business functions and their impact on stakeholders.
Browse courses on
Marketing Mix
Show steps
-
Identify the main ideas from each module
-
Write a summary in your own words highlighting key points
Create a Business Plan
Show steps
Developing a simulated business plan will provide you with hands-on experience in applying the principles of business management.
Browse courses on
Business Strategy
Show steps
-
Define the target market and customer persona
-
Develop a marketing strategy to reach your target audience
-
Create a financial plan that outlines revenue streams, expenses, and profit projections
Attend Industry Conferences
Show steps
Participating in industry conferences will expose you to experts and professionals in the business field, expanding your knowledge and professional network.
Show steps
-
Research and identify relevant industry conferences
-
Attend sessions, engage in discussions, and network with attendees
Review Basic Math Skills
Show steps
Refresher for key mathematical concepts will provide a solid foundation for understanding financial and quantitative aspects of business.
Browse courses on
Math
Show steps
Show steps
Show steps
- Review basic arithmetic operations
- Practice solving equations and inequalities
- Get comfortable with graphing and interpreting data
Explore Online Resources
Show steps
Familiarizing yourself with online resources will expand your knowledge beyond the course material, enriching your understanding of business concepts.
Browse courses on
Free Markets
Show steps
Show steps
Show steps
- Identify reputable websites, articles, and videos that cover the topics discussed in the course
- Review the content and make notes on key points
Review Course Materials
Show steps
Regularly reviewing course materials will enhance your retention and understanding of business concepts.
Show steps
Show steps
Show steps
- Go through lecture notes and slides
- Read assigned textbooks and articles
- Review quizzes and exams
Five other activities
Expand to see all activities and additional details
Show all eight activities
Discuss Course Concepts
Show steps
Engaging in discussions with peers will provide diverse perspectives and strengthen your understanding of business concepts.
Show steps
Show steps
Show steps
- Join study groups or online forums
- Share ideas, ask questions, and engage in thoughtful discussions
Analyze Case Studies
Show steps
Analyzing case studies will enable you to apply the concepts you learn to real-world scenarios, enhancing your understanding of how businesses operate.
Browse courses on
Corporate Social Responsibility
Show steps
Show steps
Show steps
- Read the case study and identify the challenges and opportunities faced by the organization
- Apply the course concepts to analyze the situation
- Propose solutions and recommendations based on your analysis
Summarize Key Concepts
Show steps
Regularly summarizing key concepts will allow you to reinforce your understanding of the core business functions and their impact on stakeholders.
Browse courses on
Marketing Mix
Show steps
Show steps
Show steps
- Identify the main ideas from each module
- Write a summary in your own words highlighting key points
Create a Business Plan
Show steps
Developing a simulated business plan will provide you with hands-on experience in applying the principles of business management.
Browse courses on
Business Strategy
Show steps
Show steps
Show steps
- Define the target market and customer persona
- Develop a marketing strategy to reach your target audience
- Create a financial plan that outlines revenue streams, expenses, and profit projections
Attend Industry Conferences
Show steps
Participating in industry conferences will expose you to experts and professionals in the business field, expanding your knowledge and professional network.
Show steps
Show steps
Show steps
- Research and identify relevant industry conferences
- Attend sessions, engage in discussions, and network with attendees
Career center
Learners who complete Understanding the Business Environment will develop knowledge and skills
that may be useful to these careers:
Corporate Social Responsibility Manager
Corporate Social Responsibility Manager
Corporate Social Responsibility Managers oversee the implementation of social responsibility programs. Knowledge of corporate social responsibility and its impact on stakeholders, a topic covered in Understanding the Business Environment, is an essential foundation for Corporate Social Responsibility Managers.
Sustainability Consultant
Sustainability Consultant
Sustainability Consultants advise organizations on how to operate in an environmentally and socially sustainable manner. Knowledge of corporate social responsibility, as taught in Understanding the Business Environment, is a valuable foundation for Sustainability Consultants to help organizations achieve sustainability goals.
Entrepreneur
Entrepreneur
Entrepreneurs start and operate their own businesses. Corporate social responsibility, covered in Understanding the Business Environment, is important for Entrepreneurs to balance business objectives with social responsibility in a competitive business environment.
Nonprofit Executive Director
Nonprofit Executive Director
Nonprofit Executive Directors manage and lead nonprofit organizations. Corporate social responsibility, as discussed in Understanding the Business Environment, is essential for Nonprofit Executive Directors to guide their organizations in achieving social impact.
Management Consultant
Management Consultant
Management Consultants help organizations improve their performance. The ability to identify and address stakeholder interests, a topic of Understanding the Business Environment, is highly valued among Management Consultants who work with companies to develop effective business solutions.
Business Reporter
Business Reporter
Business Reporters write and report on business news and trends. Understanding economic systems and global markets, taught in Understanding the Business Environment, enable Business Reporters to accurately analyze and report on complex business and economic issues.
Financial Analyst
Financial Analyst
Financial Analysts interpret economic data to make informed investment decisions. Understanding of economic systems and global markets, provided by Understanding the Business Environment, are crucial for Financial Analysts to make sound investment decisions in the global economy.
Investment Banker
Investment Banker
Investment Bankers advise companies on financial matters. Understanding economic systems and global markets, as taught in Understanding the Business Environment, is critical for Investment Bankers to provide informed advice on investment decisions in different economic environments.
Business Development Manager
Business Development Manager
Business Development Managers are responsible for identifying and pursuing new business opportunities. Understanding global markets, as discussed in Understanding the Business Environment, is essential for Business Development Managers to succeed in global markets.
Marketing Manager
Marketing Manager
Marketing Managers create and execute strategies to promote products and services. Understanding global markets, as taught in Understanding the Business Environment, is essential for Marketing Managers responsible for creating targeted marketing campaigns that resonate with global consumers.
Project Manager
Project Manager
Project Managers plan and execute projects. Understanding of economic systems and global markets, as provided in Understanding the Business Environment, may be useful for Project Managers leading international projects across different economic environments.
Financial Planner
Financial Planner
Financial Planners provide financial advice to individuals and families. Understanding economic systems and global markets, as covered in Understanding the Business Environment, may be useful for Financial Planners to understand economic trends and their impact on financial planning.
Public Policy Analyst
Public Policy Analyst
Public Policy Analysts research and analyze public policies. Understanding economic systems and global markets, as provided by Understanding the Business Environment, may be helpful for Public Policy Analysts to understand how public policies impact businesses and the economy at large.
Business Analyst
Business Analyst
Business Analysts are responsible for defining the functions and features of products and services. Economic systems and the importance of small business in the American economy are topics covered by Understanding the Business Environment. These concepts provide a Business Analyst with the context necessary to make informed decisions about business structure and strategy.
Operations Manager
Operations Manager
Operations Managers oversee the daily operations of a business. While they might not necessarily need to deeply understand economic systems and global markets, as taught in Understanding the Business Environment, these concepts may provide helpful context for decision-making.
For more career information including salaries, visit:
OpenCourser.com/course/iuuxtq/understanding
Reading list
We've selected six books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Understanding the Business Environment.
Mankiw's textbook classic in introductory economics, and the material covered here aligns well with the learning objectives for this course. can serve as the main text or as additional reading.
Save
Serves as a core textbook at many academic institutions for business and finance programs. It would be valuable as a reference, particularly for instructors who want to go more in-depth with certain concepts.
Save
For instructors seeking to make course content more engaging, this book would be an excellent addition to a reading list. It examines economic principles through the lens of real-world examples.
Save
This would be a good book to suggest for students interested in learning more about the importance of small businesses in the American economy. It could be supplemental reading or used as a replacement for some of the course content.
Save
Can provide a solid overview of the origins, basic principles, and criticisms of capitalism. It can serve as foundational reading or background reading, depending on whether instructors wish to cover more theory in the course.
Provides a more thorough examination of globalization and its various dimensions. It would serve well as supplemental reading for the course.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/iuuxtq/understanding
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Effort
5 to 10 hours per week for 8 weeks
Level
Elementary
Via
edX
Institution
Doane University
Instructor
Debora Sepich
Language
English
Transcript
English
Good to know
Examines current business functionality standards
Develops operational understandings through a stakeholder perspective
Explores economic principles accessible to novices
Applies economic theories to understandings of global markets
Considers corporate social responsibility in its relation to business functions
Emphasizes the significance of small businesses within the American economy
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