Foundations of Business (9515.2)

This unit is designed as a survey course that will expose students to business terminology, concepts and current business issues. The intent is to develop a viable business vocabulary, foster critical and analytical thinking, and refine business decision-making skills. These skills will be acquired by the reading materials, exercises, and research assignments in this course that simulate the workplace today.

Learning outcomes

On successful completion of this unit, students will be able to:
1. Explain how economic indicators shape business decisions;
2. Identify and analyse business cycles;
3. Describe the components of a business plan and the purpose of each component;
4. Identify the legal forms of business, and describe the advantages and disadvantages of each;
5. Describe and analyse the components of the marketing mix (product, price, place, and promotion), and explain how segmentation and research will foster an understanding of consumer behaviour;
6. Explain the contents of a balance sheet and income statement;
7. Formulate several financial ratios, and communicate the implications of those ratios for future performance of a company; and
8. Explain and identify leadership and management skills necessary for a successful business.

Graduate attributes

1. UC graduates are professional - communicate effectively
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
1. UC graduates are professional - take pride in their professional and personal integrity
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
1. UC graduates are professional - work collaboratively as part of a team, negotiate, and resolve conflict
2. UC graduates are global citizens - adopt an informed and balanced approach across professional and international boundaries
2. UC graduates are global citizens - behave ethically and sustainably in their professional and personal lives
2. UC graduates are global citizens - communicate effectively in diverse cultural and social settings

Skills development

Please note this is a Winter Semester course that is a full credit course conducted over a 7 week period.

Prerequisites

Must have passed 3 credit points.

Corequisites

None.

Incompatible units

None.

Equivalent units

None.

Assumed knowledge

None.