AMOUD FACULTY OF

UNIVERSITY BUSINESS

COURSE OUTLINE

Course Code: IBF6221

Course Title: Introduction to Business
Contact Hours: 3 Credit hours
Duration: 15 Weeks
Facilitator: Hared Omer Alale 0634511559,
Email: hared922@gmail.com

Course Background:
This course introduces the principles and practices of contemporary business. By the end of this
course students should demonstrate broad understanding of the fundamental concepts of
business. Course content: Foundations of business: success in a free market system, economic
forces affecting business, the role of government. International business: dynamics of
international business, business global corporation. Ethical and social responsibilities of a
business foundation of social responsibility, business and the environment, business and
consumers, business and workers, business and investors. Forms of business enterprise,
categorizing companies by industry sector. Organizing for business: defining organization
structure, designing the formal organization, understanding the informal organization.
Marketing and consumer behavior: marketing fundamentals, strategic marketing planning,
buying behavior, market research, product and pricing decisions. Products: the basis of
commerce, product development, product life cycle, Product mix and line decisions. Promotion:
Course Aims
On successful completion of the course students will be able to:
1. Demonstrate an understanding of the forces that shape the business and
economic structure of Somaliland.
2. Demonstrate an understanding of the major functions of business including
Management, Accounting/Finance, Marketing, Investments, and Information
Technology.
3. Explain why business ethics is an integral part of every business organizations
Course Objectives:
By the end of this course, the student should be able to:

1. Explain what a business is and how it operates in a free market system. Discus
the concept of social responsibility in business.
2. Discuss inflation and unemployment and how monetary and fiscal policy are
used to combat them. Differentiate between macroeconomics and
microeconomics.
3. Identify and explain the three basic forms of business ownership. Identify the
levels of management and skills required for managerial success.
4. Describe the concept of human resource planning and outline the major steps
involved in the process. Explain how each step in the recruitment and selection
process contributes to finding the right person for the job.
5. List the major functions of marketing. Discuss how marketing’s role in the
exchange process creates utility.
6. List the components of the total product concept. Identify the types of consumer
goods, industrial goods, and services.
7. Explain the objectives of promotion and the concept of a promotional mix.
8. Describe the functions of accounting and its importance to the firm’s
management and to outside parties such as investors, creditors, and government
agencies.
9. Identify the major categories of financial institutions and the sources and uses of
those funds.

Learning Outcomes:

This course should produce persons who:

1. Understand how a for-profit business is organized & managed.

2. Understand the American economic system and recognize the differences
between it with other economic systems.
3. Understand the various functional areas of business, for example: accounting,
finance, legal, human resources, advertising, small business, and international
business.
4. Understand the various ways businesses can be financed.
5. Use appropriate vocabulary for business.
6. Recognize the demands of a continually changing business environment.
7. Identify a variety of career opportunities in the field of business.
8. Recognize the role of Business in Somaliland Economy.
Course Description:
This course is an Introduction to the many facets of the private enterprise system and of
the businesses that operate within its framework. Your experience in this course will
enable you to gain a better understanding of what business arena is all about, how a
business operates, and which business functions are needed in any business enterprise

Course Content

Week Content Specific Content

1 Registration
2 The Dynamics of
Business
3 Options for
Organizing Business
4 Small Business
Management
5 Managing Human
Resources
6 Revision
7 Feedback
8 The Nature of
Management
9 Customer-Driven
Marketing
Understand basic concepts of Business:
Business. Profit. Non-profit organizations.
Activities and people of business.
Stakeholders
Legal forms of Business: Sole
proprietorship, Partnership, Advantages
and Disadvantages of forms of business.
Corporations. Types of partnerships.
Article of partnership. Article of
incorporation. Dividend and stock.
Merger and Acquisition
Small business definition. Importance of
small business in economy. Entrepreneurs
and Entrepreneurship.
How to start your own business. Brief
concept of business plan.
Human Resource Management.
Recruitment. Selection process. Turnover.
Compensation. Labor union. Collective
bargaining.
Revision
Exam results discussion and feedback
Defining management concept, role skills
and classifications of management.
Functions of management. Decision
making, communication and strategies to
revive a struggling business.
Marketing concept. Exchange process.
Functions of marketing. Marketing
concept and its implications for
 Week Content Specific Content
developing marketing strategies.
Marketing strategy, including market
segmentation and marketing mix.
Environmental forces that influence
marketing decisions.
10 Dimensions of Understand the role of product in the
Marketing Strategy marketing mix, including how products
are developed, classified and identified.
11 Accounting and Understand accounting and describe the
Financial Statements different uses of accounting information.
12 Money and the Understand money, its functions, and its
Financial System characteristics. And other financial
institution
13 Organization, Understanding organizational structure,
Teamwork, and teamwork and relate how organizational
Communication structures develop.
14 Business Ethics and Understanding business ethics and social
Social Responsibility responsibility and examine their
importance.
15 Revision Revision

Methodology:
The basic methodologies will include:
o Lectures supported by handouts and worked examples.
o Class discussions.
o Group presentations.

Evaluation:
Tests/presentation/assignments, etc., must be written and submitted at the time
specified. Failure to do so will result in a mark of “0”, unless an illness/emergency can
be proven with appropriate documentation. There will be coursework with 40% and
end of semester examinations with 60%. There will be no sit in tests. Students will work
on case assignments and produce written papers. The passing grade is 50%.

Plagiarism:
Students found plagiarizing or engaging in other forms of cheating can expect to fail the
course.

Attendance:
All students are expected to attend classes/seminars/workshops, etc. Attendance will
be recorded. Please note that you are responsible for compensating for time lost.

Participation:
Students are strongly encouraged to participate during each class through questions,
answering questions or sharing opinions. Marks will be awarded for participation
during class discussions, seminar presentation, group presentations, and workshops.

Textbook:
Business: A Changing World tenth edition. @2016. By O.C. Ferrell. Geoffrey A. Hirt
Linda Ferrell

Reference:
Business: A Changing World third edition. @1996. By O.C. Ferrell. Geoffrey A. Hirt
Linda Ferrell

Other recommended books:

1. Ricky W. Griffin & Ronald J. Ebert, fourth edition, Business.
2. Ferrell,O.C., Hirt, G., and Ferrell, L. (2009). Business a changing world (7th ed.). New
York, NY: McGraw Hill
3. Jeff Madura, Introduction to Business, 3rd Edition.

____________________________ _________________________
Mr. Hared Omer Allale Mr. Abdirizak Mahmud Osman
MBA –Finance, PGD-IBF , Dean, FEPS
DIB , BA Lecturer