INTRODUCTION TO BUSINESS
Course Objectives :
An introductory course and provides an overview of business and the role that
business plays in economic, social, and political environments. In addition, it will
provide exposure to the functional areas of business such as management,
operations, marketing, and finance. There will be opportunities throughout the
course to discuss current events in business as they apply to the topics being
covered.
Course Contents:
1. Business:
Nature, scope and importance, Problem of business functions and qualities of
businessman. Business environment and social responsibility. Role of business in
economics systems. Business under private and Public ownership.
2. Forms Of Business Organizatons:
Sole proprietorship, partnership-classification, Rights, Duties and Liabilities of
partners, Dissolution of partnership.
3. Joint Stock Company:
Formation and incorporation. Memorandum and Articles of Association,
prospectus, Shareholders. Director, meetings and winding up. Co-operatives.
4. Combinations:
Meaning and purposes, Types of combination, Holding and subsidiary
companies, Joint Venture Franchising and Trade Association.
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5. Marketing:
Basic concepts, importance, Marketing Mix. Product and its types, product life
cycle. Channels of distribution for consumer and industrial Goods, Market
segmentation, sales promotion and advertising, Ware housing, Wholesaling and
Retailing. Middlemen-Role and classification. Pricing decision and strategy.
6. Capital Market:
Nature of capital market, role and significance, operation and working of Stock
Exchange. Impact of Stock Exchange on economy of a country. Investment
Banking. Financing by leasing.
7. Making Goods And Services Availble:
Types of business goods, inventory control, Purchasing Transportation,
Decisions and Policies, Marketing needs, Types of warehouse, Advantages and
functions of Warehousing. Distribution Center.
8. Insurance And Business Risk:
Protection against risks, importance and types of insurance. Types of risks and
methods of holding risks.
9. Personal Management:
An introduction to Human Resources Management – Importance and
Application.
10. International Business:
Concepts, Advantages and disadvantages. Obstacles and constraints in
international trade. Types of Tariffs. Concept of Balance of Trade and Balance of
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Payment. Nature, objectives and role of Multinational companies in developing
countries.
Course Outcomes :
At the end of the course the student will:
1. Explain the nature of business and its environment.
2. Develop a general business vocabulary.
3. Discuss various management concepts and organizational structures.
4. Explain management of resources - human, finance, and natural (land).
5. Identify the basic marketing concepts.
6. Discuss the general methods of financing business ventures.
7. Describe commonly encountered securities markets.
8. Explain the common ethical challenges faced by businesses.
9. Discuss issues of diversity in business and the professions.
Recommended Books:
1. Introduction to Business,
Amin Khalid,
Karachi: K.B.E Book Bank 2004.
2. Introduction to Business,
Khurhseed H. Siddiqui,
Ghazanfar Academy, Pakistan 2004.
3. Modern Business Administration,
Robert C. Appleby,
Pitman Publishing latest edition
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Catalogue Description:
M.Amin Khalid, Introduction to Business, Karachi: K.B.E
Book Bank 2004. Call No:KHA 650.
Grading System:
A final exam of 100 marks will be conducted at the end of year.
