Do you dream of owning your own business someday, or working for a company in a leadership position? Wherever your path may lead you, having the essential knowledge of business types, requirements to start a business, understanding of finances, business law, marketing, sales, customer service, and more, will ensure you’re on the path to success. Let’s explore your passion for business in this course.

Unit 1: The Basics of Business

The phrase ‘running a business’ makes something incredibly complex sound very simple. A good business needs dozens of elements to work together in order to be successful. Understanding the way a company’s structure is set up can give you a lot of information about the business itself. It’s a key skill for anyone who hopes to work for, or even start, a company in the future. In other words, almost everyone can benefit from learning about this topic.

What will you learn in this unit?

• Create and understand business plans and explain why they are so important

• Explain the different functions required to operate a business

• Recognize the importance of information and communication technology in a business context

• Distinguish different types of businesses and understand what’s needed to start one

Unit 2: The Finances of Business

Financial planning is crucial when it comes to running your own business. If you want your business to make a profit, then being able to grasp ideas like running costs, expenses, and margins is key. It may all sound a little complicated, but it is pretty logical when you get down to it. We’ll start with covering the basics of accounting, as well as how to budget. Once you’ve mastered the basics, you can begin to think strategically and consider how you might benefit from the financial products on offer to a business owner. You might think that finances are a little tedious, but by the end of this unit, hopefully, you’ll see that no business can succeed without a strong understanding of its finances.

What will you learn in this unit?

• Describe and understand the accounting cycle

• Outline and understand a business risk assessment

• Investigate business costs and how to budget for them

• Evaluate different types of business insurance products and when they should be used

• Differentiate between types of financial institutions and the products they can offer

Unit 3: Marketing and Sales

Can you imagine what would happen if a business couldn’t sell anything? They wouldn’t be around for very long, that’s for sure. What helps a business the most is making sales, and in this unit, we’ll cover not only why they are so important but also how you can use marketing to help increase the number of sales a business makes in the first place.

What will you learn in this unit?

• Assess how marketing fits into the business plan

• Demonstrate your knowledge of market research, including demographics and targeted marketing

• Differentiate different marketing tools and classify the pros and cons of each

• Identify opportunities for innovation in marketing

• Explain the impact of sales as a part of business

Unit 4: Ethics and Business Law

No one wants to end up breaking the law, especially in business. Nevertheless, it can be very easy to do if you aren’t familiar with the laws and regulations that business owners must abide by. Thankfully, there is a lot of useful information available, and this unit will provide some guidance, not only on how to remain compliant with the law but also on how to run a business ethically to ensure you’re taking proper care of your employees. Businesses that function ethically have happier, more productive employees, and in return, you as a business owner may well see larger profits.

What will you learn in this unit?

• Analyze the effects that different aspects of the law can have on a business

• Identify sources of business crimes and strategies that can be used to prevent them

• Describe the legal requirements for running a business, including employment and labor laws

• Discuss why a business should be run ethically and the benefits this has for employers and employees alike

• Investigate how the use of data and technology by a company and its employees can create legal problems for the company

Unit 5: Computer Hardware

For just about any business today, computers are essential. Whether they are used for emails, your company website, digital image editing, or even to store all of your customer information, computers form an integral part of the day-to-day functions of most companies. Therefore, it’s important to understand not only how computers work but also how to get the most out of them and to ensure their longevity through proper maintenance. Computers can also be used across a network to facilitate the fast trading of information and access to very complex applications. Understanding how computers communicate and how a basic network functions will ensure you know how to set up your computer network in the way that suits your company best.

What will you learn in this unit?

• Identify what hardware you need to begin your business

• Differentiate between several types of computer networks and explain what each is used for

• Compare the key uses of hardware and software

• Plan maintenance and upgrade tasks typically undertaken in a business environment.

• Investigate how to choose the right technology to fit a company’s needs

Unit 6: The Internet and Business

Just imagine what you could do if you had all of the world’s information at your disposal. It seems a bit like a fantasy. Surely you can’t get access to all of the knowledge that we have as a species. Perhaps not, but technology has brought us much, much closer to this through the use of the internet. There is so much information out there for us to discover that it’s become more and more important to understand how it all works. Throughout this unit, you will learn about the fundamentals of the internet and how it operates, how it can be accessed, the applications and tools used to make the most of it, and how to find and filter information effectively. The internet is different from many other types of networks, and being able to create content for it is key for a business in this day and age. Therefore, making the most of the internet is essential for anyone hoping to have their own company one day.

What will you learn in this unit?

• Discuss how the internet functions and compare this with other types of networks used in business

• Utilize internet terminology and the web to take advantage of what websites can do for business

• Create effective internet searches and define internet search modifiers

• Explain the advantages of using web applications in business organizations

• Investigate ways to create the most effective internet searches

Unit 7: Web Design and Business

Online business is a very lucrative way of earning income for a business, but it requires a well-thought-out site with good content and eye-catching presentation to invite customers to visit and keep coming back. Understanding how to properly plan and implement a site, including utilizing features and graphics, is key and can be the difference between a successful site versus one that drives customers away. You should be encouraged to know that there are great resources available, and with careful implementation, even a first-time business owner can create a fantastic website!

What will you learn in this unit?

• Explain different types of websites and be able to identify which to use for a business

• Plan the creation of a website from its initial concept to the delivery of the final product

• Select appropriate web editors and coding languages to build and enhance a website

• Demonstrate understanding of website design including color theory

• Evaluate the effectiveness of graphics and animations in grabbing the attention of visitors to a website

Unit 8: Operating Systems and File Management

It’s easy to underestimate the crucial role that an operating system plays in our computer. Whether you’re installing software like browsers or word processors, or even your favorite PC game, none of that would be possible without an OS. There are several different operating systems, each of which comes in different versions, but they all fulfill the same function: they provide the foundation on which the software we use daily is built. Without an OS, you wouldn’t be able to open Gmail to read your email or run Word to complete that proposal you’re writing to get your startup company going.

What will you learn in this unit?

• Describe the history and use of operating systems

• Safely create and move files in an operating system

• Correctly and efficiently name files under best practices used in business

• Safely store files while preventing data loss by creating backups

• Transfer, download, and save data to satisfy business standards

Now that you have the basics of business down from the previous course, it’s time to become better acquainted with the application of information management in business. Learn about professional conduct, teamwork, and managerial skills, while also examining careers in business technology. The basics of word processing, spreadsheets, databases, and presentation software are also explored so that you become better prepared for jobs in this field.

Unit 1: Workplace Communication and Business

Communicating with others is a cornerstone of life. Be it chatting to friends, arguing with parents, or even listening to music, it’s all communication, but there’s more to communication than words. Being conscious of what and how you communicate with others is never more important than it is in the workplace, and this includes how you speak, how you behave, and more.

What will you learn in this unit?

• Distinguish verbal from non-verbal communication, as well as the different ways each form of communication is expressed

• Explain the importance of communication in the office or workplace

• Communicate effectively in a team

• Examine the ways communication can be used to resolve conflict

• Assess the use of project tools to manage projects and facilitate communication

Unit 2: Communicating by Email

Despite the ceaseless rise in popularity of social media networks, email remains a staple of communication. In other words, as far as business is concerned, there is no communication without email, and there won’t be for a long time. Because of this, it’s important to know how to “do it right.” Knowing how to write good emails is a necessity when working for a business. This means that you must be able to communicate clearly and take advantage of the tools available to optimize your use of email at work.

What will you learn in this unit?

• Write and phrase business-appropriate messages to clients and co-workers

• Work with different types of attachments and files

• Manage your incoming mail, including spam and junk

• Configure email settings to make your processing of email more secure and efficient

• Assess the use of email in conjunction with additional communication tools

Unit 3: Word Documents in Business Communication

When it comes to communication, the written word is one of the strongest assets we have. Business communication and private communication alike strongly depend on us knowing what to write and how to write it. However, nowadays that comes with a caveat. Since people tend to prefer electronic communication to hand-written letters, they require some tech skills along with the ability to write. Word processing software, cloud storage, and shared documents—it’s a package deal now.

What will you learn in this unit?

• Recognize and create a variety of important business documents

• Examine the use of different elements to create effective written documents in Word

• Assess basic design elements used to create visually appealing documents

• Publish and share written content in a business setting

Unit 4: Communicating Using Spreadsheets

Communication comes in many different forms, and not all of them are spoken—you can even use spreadsheets to communicate. In business, exchanging files is, of course, commonplace, and spreadsheets form a big part of that exchange. They are a convenient way to collect, track, and report data, and because of this, they are used to carry out a wide variety of tasks, from creating charts to reporting budgets. Information can be shared in many different ways, and the rows and columns of spreadsheets are a popular choice.

What will you learn in this unit?

• Examine the use of spreadsheets in business

• Identify the ways to input data into a spreadsheet

• Investigate the use of basic formulas and functions to perform calculations

• Compare the use of charts, sparklines, and graphs

• Analyze, manipulate, and share data in a business context

Unit 5: Creating and Using Databases in Business

Data comes in many forms, of course, and one of the easiest ways to store data in bulk is to collect it in a database. In essence, databases are tables in which information is stored in rows and columns that group together similar or identical pieces of information or duplicates to make it easier to view. Databases are just about everywhere: they exist behind the scenes on websites, and they even form part of the software that makes your phone work!

What will you learn in this unit?

• Compare the use of database software like Excel and Access

• Create and set up simple databases

• Manipulate and understand the relationships between tables

• Explain the basics of data mining

Unit 6: Communicating Using Slide Presentations

While you could be forgiven for thinking of communication as primarily being something that occurs between two individuals, this is not always the case. It can also take place between one person and a group, which often occurs when a person delivers a presentation or something like a talk delivered at a conference. Teachers usually teach in groups, too. Regardless of who the participants are, however, there are tools available to make this type of communication easier for everyone to follow, and that is exactly what we will cover in this unit.

What will you learn in this unit?

• Create PowerPoint presentations

• Effectively communicate with a group in a business environment

• Edit, manage, and create slides for presentations

• Efficiently utilize presentations in business situations

Unit 7: Careers, Businesses, and Organizations

Just when you think you know it all, there’s more. In addition to learning how to use business tools, there are a few more things you need to know to succeed in a business environment—that is, skills that are a little harder to pick up because there isn’t exactly a tutorial for them. Sure, you know spreadsheets, but there’s a tutorial for that. You can take a course to learn about spreadsheets and databases. But what do you know about working on a team? How well do manage your time? These skills are some of the “more” you need to know about. They represent different skills than the kind we’ve discussed so far, but that doesn’t mean you can’t acquire them. We’ll teach you some of the most important ones in this unit.

What will you learn in this unit?

• Explain interpersonal skills and how to use them to your advantage

• Describe the importance of time management, dependability, and a positive attitude

• Inform others about the advantages provided by professional and student organizations

• Identify potential career plans and career options in the field of business technology

Unit 8: The Future of Business Technology

It’s pretty difficult to deny that technology is the future. Innovations and inventions hit the market nearly every day, and while a lot of them have little if any use for you, and many don’t even have a future in the marketplace, the trend to find new solutions to old problems via the use of technology is strong. Simplifying tasks, be they personal or business-related, is something that we as a species will continue to strive towards, so you as a student should do your best to keep up with the trends!

What will you learn in this unit?

• Explain the impact that technology has on business

• Assess innovative technological ideas as prospective solutions to business problems

• Compare a variety of software tools used to create efficient resolutions in business

• Practice safe, responsible, and appropriate use of social media sites

Discover the fundamental knowledge that will help you pursue a business career, as well as always generate interest and buzz around the products and services offered. Explore different types of businesses and ownership forms, the impact of governments on business, and the marketing of goods and services. Learn about globalization, free trade, and various economic systems, as well as the impact of technology on business, business ethics, and social responsibility.

Unit 1: Fundamentals of Business

Did you know that more than 98 percent of businesses are classified as small businesses with less than 100 employees? Of course, the most successful of these business owners are those who understand the role of business in our society, clearly define the goals of their new enterprise, and create a solid strategy for long-term success. Just as an architect creates a blueprint before construction begins, the thoughtful business owner will create management and operational blueprints that position the new business to thrive in our competitive economy. Whether the business is a sole proprietorship or a large multinational corporation with thousands of employees, success depends on a solid foundation capable of withstanding economic challenges and competition that can shift with agility to get ahead of changing consumer behavior. Soon, you too will be prepared to recognize the importance of knowing what to expect before your grand opening!

What will you learn in this unit?

• Identify the role of business in society

• Explain the different types of businesses

• Differentiate among types of business ownership

• Compare organizational and structural functions of business

Unit 2: Classifications and Types of Business

Have you ever thought about how a bag of chips gets to your local grocery store? Or where the potato chip factory gets the potatoes or the bag? Or who delivers the chips to the store? It takes a surprising number of businesses to create everyday products and many services to get them to your door. Fortunately, the United States supports an economic climate that is very favorable for businesses and that benefits the economy. Whether providing goods or services, this country depends on entrepreneurs to provide an endless variety of businesses to keep the economy strong.

What will you learn in this unit?

• Classify types of businesses that market goods and services

• Identify types of retailers and suppliers

• Explain the significance of free enterprise

• Describe the role of wholesalers

Unit 3: Economics of Business Part I

How does a business know how much to charge for a product or service? There are a lot of elements that need to be considered when determining pricing. In a tightly controlled economic system, the government sets all prices. In others, retail business owners have to figure it out for themselves. In this case, there is a lot to consider, like how much the manufacturer charged the retail store for the product, the cost of shipping and packaging the product, and the gradual costs associated with keeping the product in their inventory until it is sold to the consumer. Still, factoring in all of the variables does not guarantee success; market and consumer demand are always changing. It is really important to understand how all the various factors impact each other and how to keep the price just right.

What will you learn in this unit?

• Describe the concept of economies and economic systems

• Differentiate among economic systems

• Explain the principles of supply and demand

• Identify the function of prices in the market

Unit 4: Economics of Business Part II

Titus Maccius Plautus, a Roman philosopher, is generally credited with making the statement “you have to spend money to make money” more than 2,000 years ago. No matter how self-starting and motivated you are, all businesses will have expenses. While the future success of a financial venture is not perfectly predictable, proper planning can help minimize potential losses and errors. You need to understand the different kinds of expenses, not to mention how and why they vary. Part of spending or investing money wisely is also making sure that you have the best people managing those businesses and investments. Savvy business owners will know how to attract top workers with both good wages and solid benefits. Happy, productive employees should be everybody’s goal!

What will you learn in this unit?

• Discuss factors impacting business profit, revenue, and expenses

• Explain elements that impact profit

• Analyze the benefits of specialization of labor

• Demonstrate the benefits of division of labor

Unit 5: The Role of Ethics in Business

Warren Buffett, one of the most successful business leaders and investors in the United States once said, “in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if you don’t have the first, the other two will kill you.” In short, he is expressing the widely-held understanding that a positive and ethical environment is essential to any successful business. Ethics in business may include everything from having clearly defined expectations for behavior, to keeping clear lines of communication, and building a sense of doing what is best for your employer and colleagues. This sense of responsibility also extends to the greater community in which the company operates; this is where sustainability comes in. When businesses think about how they can benefit the environment, their employees, and the customers, we all benefit.

What will you learn in this unit?

• Define and distinguish ethical practices in business

• Recognize and respond to ethical dilemmas

• Compare and contrast moral and legal issues in the workplace

• Analyze the benefits of sustainable practices

Unit 6: Global Impact on Business

International trade has a deep history dating back to the Silk Road in 130 BC. Today, trade with foreign nations is often a source of concern in the United States. Following the end of World War II, the United States took the lead in developing international trading policies and today has trading agreements with nearly one-third of all nations on the planet. Though much of the discussion in Washington, D.C., focuses on fears that a deficit—importing more goods and services than we export—costs American jobs and threatens our economy, that is not a completely accurate assessment. As sixth-century English poet John Donne wrote, “No man is an island.” The importance of global trade and our relations with other nations today only underscores this belief.

What will you learn in this unit?

• Debate and evaluate the importance of international trade to the US economy

• Critique the role of business in a global society

• Compare domestic and world trade

• Analyze the impact of imports and exports on the US economy

• Critique the benefits and drawbacks of protectionism including tariffs

Unit 7: The Role of Government

Can businesses in a free market do whatever they want? Not quite. There are many ways businesses are limited by local, state, and federal regulations, even in nations that are very supportive of business. There is a constant debate about the need for any regulation in a free market economy among legislators, government regulators, business owners, and consumers. Many responsible for building and protecting a strong economy will argue that some level of regulation is necessary to protect that free market economy driven by supply and demand. Other equally knowledgeable people will argue that left to function as a true free market, consumer decisions will drive a steady and sturdy economy. Whether business owners support or decry regulation, running a responsible business is not just about following the laws. It also requires recognizing and preparing for risks, which are part of running any business.

What will you learn in this unit?

• Determine the relationship between government and business

• Differentiate among the roles of government in business

• Articulate the role of organized labor

• Analyze different types of risk

Unit 8: Data and its Growing Importance on Business

Technology and business go hand in hand. Both are evolving to better serve consumers, but this also adds additional responsibilities for businesses, which are now responsible for keeping their client’s information safe online. Technology and the internet also change the ways that businesses and consumers interact; companies can learn a lot about their customers by examining consumer behavior online. Similarly, there is a lot that data can tell businesses about their internal workings and how to streamline processes. It all depends on using technology well.

What will you learn in this unit?

• Evaluate and critique information literacy skills implemented to improve productivity in the workplace

• Identify the ways technology impacts business

• Discuss the significance of data mining for businesses

• Articulate appropriate security and privacy practices in business

Take your knowledge of business basics, finance, and marketing to the next level. Learn how to create a marketing strategy that promotes and attracts customers to sell a product or service. Explore important basics of business finance, including accounting, budgeting, and investing. Learn what careers are available in business and the important employability skills you’ll need to ace the interview and land the job!

Unit 1: Marketing

All businesses need to consider the customer experience, and marketing puts this thought into action. It is all about drawing customers in and keeping them loyal to the business. Since products exist to fill needs, marketing helps business owners figure out which customers are best served by their products. Then it lets the public know what it has to offer. But marketing is also anticipating needs and understanding how customers make decisions. Good marketing can boost business, so even small businesses can benefit from a little marketing savvy.

What will you learn in this unit?

• Illustrate the function of marketing

• Discuss the importance of marketing in the global economy

• Demonstrate the relationships between marketing and other elements of business

• Explain the meaning and significance of the marketing concept

Unit 2: Market Segmentation

Reaching the right consumers is an important part of marketing, but how does a business know who they are? That’s where market research comes in. There are many ways to divide the population into those who are likely to buy a business’s product and those who are not. Or maybe it is a product that almost everyone needs, so mass marketing is the way to go. Regardless, once a business understands exactly which customers it is trying to attract, it can target the right people and spend its marketing dollars wisely.

What will you learn in this unit?

• Recognize elements of marketing

• Identify and analyze target markets

• Differentiate between targeted and mass marketing

• Compare methods of defining target markets

Unit 3: The Marketing Mix

Marketing does not do businesses much good until it reaches the public, and that is where strategy comes in. Once a target market is identified, the next step is to bring these customers to the business’s door or website. This takes thoroughly understanding the product, considering the right promotion, knowing how to get the product to the customer, and finding the price that maximizes profit. These steps are the 4Ps of marketing and what it takes to get the message out to the public – ready to dive in?

What will you learn in this unit?

• Create an effective marketing mix

• Identify effective marketing strategies

• Discuss the 4Ps of marketing and their components

• Differentiate between marketing goods and services

Unit 4: Principles of Money

When it comes to finances, businesses need to know the basics. After all, everything from the types of payments a company accepts to how transactions are structured will impact the bottom line. But there are also many external factors, such as interest rates and lending laws, that shape how businesses can obtain and extend credit. Not only do they need to comply, but understanding different ways to access credit can help a business choose the method that best meets its needs.

What will you learn in this unit?

• Identify types of currency

• Evaluate forms of financial exchange

• Discuss the importance of credit

• Identify appropriate circumstances for using credit

• Recognize the legal obligations associated with financial exchange

Unit 5: Basic Financial Management

Businesses are not the only ones who need to manage their money! Individuals also need some financial savvy to make sure that their money is properly managed. Even something as basic as a paycheck contains valuable information to help you understand where your dollars are going and how much you are paying in taxes. But don’t worry, together we can break this down, learn how to create a budget, and keep your finances on track!

What will you learn in this unit?

• Explain income

• Interpret a pay stub

• Prepare a basic tax return

• Compare different banking services

• Develop a personal budget

Unit 6: Business Finance

Keeping track of finances is one of the most important tasks of all business owners. Not only do businesses need to stay profitable, but they also need to be able to anticipate their financial futures. That is where accounting comes in. Being able to read a few basic reports reveals a lot about where a business is financially. Many businesses will also have investments, and these can be a great way to bring in additional revenue and secure a solid financial future.

What will you learn in this unit?

• Explain the role of finance in business

• Articulate the concept of accounting

• Analyze balance sheets and income statements

• Differentiate among types of investments

• Determine how to find the right financial advisor

Unit 7: Basics of Finance

Getting a job is an important step in building a career, but what does it take to land one? Being professional begins well before your first day of work. There are opportunities throughout the application process to demonstrate the skills that employers are looking for and ways to build them before you hit the job market. Communicating effectively and working well with others are among the top skills that employers want to see, and now is a great time to practice them!

What will you learn in this unit?

• Recognize and demonstrate professional behavior

• Articulate and follow company policies

• Collaborate effectively to accomplish a task

• Demonstrate time management skills

Unit 8: Business Careers

Thinking about your career can be daunting. Fortunately, business, finance, and marketing present a lot of options. No matter what your skills and interests are, there is probably a career to match! And, since one of the keys to a successful career is having a plan, now is a good place to start thinking and considering your many options. Of course, there are many resources to help you explore careers, and once you know what your goals are, the path becomes much clearer.

What will you learn in this unit?

• Explore the skills and experiences that benefit entrepreneurship

• Evaluate different jobs in business, finance, and marketing

• Assess personal job skills

• Develop a career plan

• Set SMART goals

From the shift managers at small businesses to the CEOs of large companies, effective management is key to any organization’s success. Explore foundational management concepts such as leadership, managing teams, entrepreneurship, global business, finance, and technology and innovation. Engage in a capstone that pulls all of the concepts you’ve learned together, allowing you to see how management ideas can be applied to a business case study. Get started with learning the fundamentals of successful management.

Unit 1: Introduction to Management and Organizations

Being a manager is about more than just a title or a raise in pay. Successful managers are expert communicators who can creatively assess problems, make decisions, and apply solutions, all while providing leadership to the employees who report to them. The duties of a manager vary depending on the management level, the size of the organization, and the type of business. Understanding what management is as well as the functions, theories, and trends involved will help all aspiring managers.

What will you learn in this unit?

• Define management

• Explain the five basic managerial functions

• Compare the art of management to the science of management

• Describe different levels of management

• Discuss the evolution of management theory

• Compare and contrast organizational structures

• Identify and interpret business trends

Unit 2: Management and Leadership

Leadership is not the same as management. A manager performs oversight functions in an organization, whereas a leader inspires other people to follow their example. Managers define goals, but leaders give people reasons to meet those goals beyond the rewards of salaries and promotions. People trust great leaders and are willing to go farther as well as work harder for them. Who inspires you? Do you think of that person as a leader? Would that person make a great manager? To be truly great, a manager needs to develop the qualities of leadership and continually strive to improve. Above all, to be a great leader, you need to be inspired yourself.

What will you learn in this unit?

• Define the concept of leadership and its relationship to management

• Identify examples of effective leadership

• Compare and contrast various leadership styles, traits, and skills

• Explain how leadership styles, traits, and skills contribute to employee and organizational success

• Describe how leaders manage change and common employee problems

Unit 3: Organizing Teams

Teams allow managers to draw on the knowledge, viewpoints, and expertise of individuals collectively devoted to achieving a unified purpose. The members of a team support and are accountable to one another. They collaborate to solve problems more effectively than individuals working alone. Through working together, team members strengthen their commitment to the overall goals of the organization and to each other. Managers lead teams effectively by staying on budget and clearly communicating goals as well as expectations to ensure that team members stay motivated and on schedule. Although challenges such as conflict, lack of trust, and the potential for groupthink can degrade team performance, leaders who find positive ways to overcome these challenges will build stronger, more resilient teams.

What will you learn in this unit?

• Describe how teams form and are structured

• Identify the benefits of teams

• Examine how teams form and grow

• Compare and contrast various challenges of teams

• Discuss current trends in managing teams

Unit 4: Entrepreneurial Management

Entrepreneurs combine management skills with characteristics such as confidence, determination, and resilience to create new businesses and innovative market solutions. To succeed in business, an entrepreneur needs to understand more than just a specific market niche. Entrepreneurs must have a strong understanding of the economic and political contexts for their businesses as well as the ability to identify trends that might affect what they want to do. Entrepreneurs need to be able to identify potential sources of funding and develop feasible ideas through business plans that can attract investor interest. To start their business and sustain it through the difficult early years, an entrepreneur should account for business costs and build capital to maintain the health of their business.

What will you learn in this unit?

• Identify the skills and characteristics entrepreneurs draw on to succeed

• List the steps of starting a business

• Describe economic principles and the characteristics of economies and political systems

• Create a feasibility study and business plan

• Evaluate both business costs and sources as well as types of capital

Unit 5: Managing in a Global Marketplace

The global economy is interconnected, interdependent, expansive, borderless, and technologically advanced. To be competitive in this environment, managers need to understand the cultural, linguistic, legal, regulatory, and trade issues involved in their target markets. Managers can develop this understanding by constructing comprehensive global strategies; leveraging strategic partnerships with local representatives; performing careful SWOT analyses, and crafting culturally aware marketing mixes of products and services. To be ethical members of the global community, businesses must conduct their operations sustainably. To be successful, businesses must spot trends and opportunities that can help them build brand awareness and market share.

What will you learn in this unit?

• List the characteristics of and economic factors in the global economy

• Describe how to navigate the global business environment concerning legal, regulatory, and trade concerns

• Develop a global strategy including SWOT analysis and the marketing mix

• Analyze how global businesses manage sustainability

• Evaluate trends and opportunities in the global economy

Unit 6: Financial Management

Financial management involves making calculations to determine the financial health of your business and using those calculations to make decisions. By examining the operating cycle for your business and the business cycle in the economy as a whole, you can determine the position of your business in the marketplace. Creating a budget to calculate business expenses and implementing financial controls for cash as well as credit transactions can help you monitor and manage the variables that can affect the health of your business. As you evaluate funding sources for your business, you can develop a plan for obtaining financing, purchasing assets, and meeting your tax obligations. By creating financial statements—balance sheets, income statements, and cash flow statements—and reporting on your business’s performance both internally and externally, you and investors or other stakeholders can review performance metrics to see where the business is doing well and where it needs to improve.

What will you learn in this unit?

• Explain why managers need to use financial management and accounting to measure the financial health of and make decisions for their businesses

• Analyze the process of creating a budget and developing financial controls for a business

• Describe the types of funding sources a business can use to purchase assets, the types of assets as well as how they are valued, and the types of business taxes

• Evaluate the documents (balance sheets, income statements, and cash flow statements) that businesses issue to indicate their financial position

• Apply financial data to the creation of internal and external financial reports

Unit 7: Managing Information

Information is the lifeblood of any business, and it is what managers use to make decisions as well as set goals. The hardware and software used for the processing of information make up information technology. Information systems add people, procedures, and the information itself to that mix, considering everything involved in the production of information. Useful information—business intelligence—is essential to any company and must be collected ethically. To gather and deploy data, managers use different types of information systems—such as collaboration and social media. Implementing management information systems successfully requires careful planning. These systems must be maintained and secured once put into place. In a global context—with the cloud, big data, and the Internet of Things, among other major trends driving the creation and distribution of data—sharing business information is easier than ever before, but managers still must consider trade barriers to the use of information as well as the resources and capabilities of their businesses.

What will you learn in this unit?

• Describe how companies manage technology and information.

• Examine business intelligence and its uses.

• Differentiate between the types of information systems.

• Implement management information systems.

• Recognize the opportunities presented by current trends in information management.

Unit 8: Managing the Business—A Case Study

A capable team of managers is a valuable resource in a business. We all have experiences with effective managers, and likely with those who were ineffective. Maybe it was at school, at work, or even as a customer. What was it that made the managers good at their jobs? Were they highly skilled, did they express empathy, or could they motivate others to perform well? Conversely, did the less effective managers demonstrate poor communication skills, disorganization, or an inability to lead? We have examined many aspects of management and what managers do throughout this course. Now we will apply what we have learned to a typical business scenario. Seeing these leaders in action will provide us with a model for successful management practices.

What will you learn in this unit?

• Create effective plans based on internal and external aspects of a specific business.

• Select and develop the organization structure and staffing for a business.

• Apply controlling methods to a business using projected and actual results.

• Identify appropriate leadership approaches for business situations.

Every business and company needs management of some type. But what skills must you master to become an effective professional? Explore the ins and outs of this career, the responsibilities businesses have towards customers, and hiring the right employees. Gain an understanding of human resources (HR) to ensure job satisfaction and take action to ensure that all rules and laws are being followed. Learn how to become an effective manager in any field.

Unit 1: Management and Ethics Today

As a manager, you need to make decisions for a company that will maximize its return on investment. You must ensure that the operations you oversee are profitable, expenditures are reasonable, and costs remain within acceptable margins. These choices involve your ethical obligation to be a responsible steward of the company’s resources. Your ethics—or your ideas about right and wrong—should guide not only your decisions about resource allocation but also just about every aspect of your work. Ethical management involves making moral and responsible choices to benefit your community and organization, which can be global in scope.

What will you learn in this unit?

• Define ethics

• Relate ethics to the challenges of business management

• Develop a code of conduct for your organization

• Create a customer service policy to promote the ethical treatment of customers

• Evaluate the ethical challenges involved in the global business environment

Unit 2: Planning and Decision-Making

To lead a project well, you must communicate well, track the progress of numerous tasks simultaneously, never lose sight of the bigger picture, and make effective decisions quickly. You also need to define goals to guide your team and provide the tools to collaborate and stay in the loop about what different team members are doing. Besides providing focused reports so that stakeholders can be aware of how the project is progressing, the project leader must handle problems—large, small, personal, and practical—along the way. Project managers need a strong and varied skill set to succeed in leading their teams to the finish line.

What will you learn in this unit?

• Define project management and the skills that project managers need

• List and describe the phases of project management

• Create project-level and short-term goals

• Evaluate the process of initiating, planning, executing, and closing a project

• Analyze and solve project problems

Unit 3: Internal and External Communication

Perhaps nothing is more important to the successful functioning of a business than effective communication. Strong communication helps team members develop the trust necessary to share knowledge and insights freely with one another. Open, honest, and accurate communication enables managers to identify or even anticipate problems, understand what needs to be done, and foster collaboration to develop solutions. Strong communication helps team members develop trust to share their knowledge and insights. Cultivating your team’s communication skills makes you a more effective manager.

What will you learn in this unit?

• Examine types of communication, communication barriers, and the communication process

• Apply recommendations for improving meetings and presentations

• Review tips for clear and effective business writing

• Develop a customer profile and customer service strategy

• Evaluate strategies for conflict resolution

Unit 4: Marketing

Imagine that you have a great idea for a business that sells an affordable smartphone to customers on a budget. You’ve attracted investors to your idea and have found a manufacturer for your phone, but where are you going to sell your phone? How will you attract the attention of your target customers? What sales and promotional techniques will you use to convince these customers to buy your phone? These are the kinds of questions you need to answer to begin marketing your product.

What will you learn in this unit?

• Describe how to conduct market research

• Develop a marketing strategy

• Create a marketing plan

• Analyze strategies for implementing the four Ps of the marketing mix: product (or service), price, place, and promotion

Unit 5: Production and Supply Chain Management

Without efficient production processes and a well-managed supply chain, your business will never run as efficiently as it could. You can control costs and correct inefficiencies by monitoring the productivity and logistics of your operations, from the vendors and manufacturer to your customers. By managing your inventory, you can ensure that customers receive the products ordered and get them on time. This will enhance their satisfaction and the image of your business. In this unit, you’ll learn everything that goes into productivity, retail math, vendor selection, manufacturing processes, quality control, and supply chain management.

What will you learn in this unit?

• Participate in sales and operations planning (S&OP)

• Manage inventory for a retail store

• Select a vendor that fits the needs of the company

• Examine manufacturing processes as well as the concepts of quality control, assurance, and improvement

• Apply supply chain management techniques by measuring key performance indicators, controlling risks, and using logistics management systems

Unit 6: Human Resources Management

In this unit, you will learn about human resources management as well as the valuable role it plays in keeping your employees motivated and productive. We will discuss the various functions of human resources, including recruiting and onboarding staff; determining compensation and benefits; training and developing staff; maintaining staff relations and the work environment; and keeping employee records. You’ll also discover how to assess and measure employee performance fairly and determine when and how to fire employees. We’ll end the unit by exploring risk management and how to ensure workplace safety as well as security.

What will you learn in this unit?

• Explain the functions of human resources

• Create job descriptions, employee contracts, standardized interviews, performance reviews, and other necessary human resources documents

• Describe the process of finding, interviewing, evaluating, onboarding, and compensating staff

• Evaluate and improve employee performance

• Assess risk management as well as workplace safety and security

Unit 7: Business Law

In this unit, you will learn about business law and why it’s critical not only that you follow the letter of the law, but also that you strive to create a spirit of compliance in your organization. First, you’ll learn how a proactive legal strategy means integrating legal counsel into the decision-making for your business. Next, you’ll learn what makes a valid and enforceable contract, the types of contracts, and how contracts are upheld. This will lead to a discussion of employment law, including laws protecting employee safety and prohibiting discrimination, how unions work, and when strikes are legal. Finally, you’ll learn about acquiring the licenses and permits your business needs to operate legally, ensuring customer and employee safety to avoid lawsuits, and complying with legal safeguards for consumers.

What will you learn in this unit?

• Identify the types of business law, the provisions of particular laws, and the roles of specific government agencies

• Evaluate legal strategies for compliance with laws regulating business

• Analyze the elements and types of contracts and how they are enforced

• Differentiate the types of employees and explain the role of unions

• Acquire the necessary licenses and permits, avoid lawsuits through safety measures, and comply with consumer safeguards

Unit 8: Career Exploration

In this unit, you will learn about how to get a job and develop within your chosen career. First, we’ll discuss how to create a career plan that can guide you through the strategic decisions you must make to start building your career. You’ll also discover how to begin putting your career plan into action by finding a job. Next, we’ll talk about how to create a resume and letter of application that will properly introduce you to hiring managers in a way that shows off what makes you a desirable applicant. Then, we’ll cover how to prepare for and present oneself well during the interview process. Finally, we’ll explore how to develop work experience, grow within your career through ongoing education, and leave a job gracefully when you’re ready for a new challenge.

What will you learn in this unit?

• Develop a career plan with short-term as well as long-term goals and assess methods for finding a job

• Create a resume and letter of application

• Prepare for and complete an interview

• Analyze opportunities for developing work experience and ongoing education

• Evaluate the best way to leave a job

Are you ready to step into a critical leadership role that oversees the development of every successful business’ most valuable resource? In this course, you will wear the shoes of a Human Resource Management (HRM) professional and will learn how to build and manage a team to help a company reach its goals. You will also explore and perform some of the key responsibilities of an HRM professional: research, interviewing, reporting, recruiting, hiring, assessing employees, and more! Are you ready to help develop invaluable human resources that are the heart of a company and help your company thrive? Learn how to create a winning culture through human resources!

Unit 1: Introduction to Human Resource Management

What would a business be without its employees? The workforce brings ideas to life, and humans get the job done. Humans are the most valuable resource for many employers. Human Resource Management (HRM) involves the creation and development of that essential resource—the employees—making HRM a critical part of any business. Students who want to do meaningful work that impacts the company’s bottom line may enjoy learning about how to effectively build and manage a team of human resources.

What will you learn in this unit?

• Define “human resource management” and identify its role in an organization

• Describe the everyday functions of an HRM professional

• Explain the role of HRM in the development of a company culture

• Discuss the evolution of the work environment and its resulting challenges for HRM professionals

Unit 2: HRM Planning and Strategy

Have you ever taken a road trip with friends or family? If so, you might recall that each time you drive to a new place you need to consult a map or some directions to find your way. The same is true for a business, especially if it is brand new. A successful business needs a roadmap to guide its future. This map will help the company identify where it is going, how it plans to get there, and how it will know it has arrived. In business, we call this map a strategic plan.

What will you learn in this unit?

• Explain the differences between a mission statement and a vision statement and their relationship to company values

• Describe the factors involved in strategic HRM planning

• Identify the stages in the organizational life cycle and conduct a SWOT analysis

• Discuss internal and community strategic partnerships

Unit 3: Job Analysis and Organizational Structure

Organizations are sometimes compared to machines because they have a complex set of components that all come together and operate as a whole. In a business, HRM plays a big part in defining the roles of each piece of the machine by outlining its function and giving it a clear description. When each part knows how to operate, the machine comes together in an organized way to conduct business. This translates to successful workers with clearly defined job descriptions, each playing their part in the overall organizational structure. Let’s learn how to deconstruct this machine and better understand each of its parts.

What will you learn in this unit?

• Perform a job analysis using several different methods

• Use job analysis data to conduct recruiting, hiring, employee performance reviews, training, and career planning

• Create a job description

• Describe the key characteristics of several different organizational structures

Unit 4: HRM and the Law

Managing humans at work is just a smaller version of managing people in society. How is this done effectively, one might ask? Through the operation of laws, of course. The field of HRM is largely shaped by federal and state laws that require employers to respect the rights of workers. Here we will examine how HR professionals can implement workplace policies and procedures that support the civil rights of employees and also meet the legal burdens placed on the employer.

What will you learn in this unit?

• Explain statutory reporting requirements

• Compare and contrast five federal Equal Employment Opportunity Laws

• Describe four federal laws that HR managers must apply when recruiting and hiring employees

• Distinguish between employment at will and an employment contract

• Discuss ethical requirements relating to sexual harassment, employee discipline, substance use, theft, privacy rights, and records security

Unit 5: Recruiting For Talent

Recruiting for talented employees looks the same for a business as it might for a college sports team. The boss—and the coach—both want to build an entire team of people with the skills and abilities to perform jobs at the highest level so that everyone wins. HR managers use many different strategies and methods to find and hire workers to complete the roster. Here we’ll examine the playbook on recruiting for the best talent.

What will you learn in this unit?

• Calculate the cost per hire and implement it within a recruitment plan

• Draft a compelling job description to use for recruiting purposes

• Write an effective job posting for any open position

• Understand the available options for recruiting a diverse pool of candidates

• Develop a recruitment plan that complies with federal labor laws

Unit 6: The Selection and Hiring Process

If you ask most people what an HR manager does all day, hiring new employees is likely to be the top answer. Employees are the lifeblood of every business. Highly skilled and engaged workers produce the best results and help companies succeed at whatever they do. For this reason, the selection and hiring process is a fundamental role of every human resource team. Here we’ll examine the significance of each element in this process and how to hire great employees while staying compliant with the law.

What will you learn in this unit?

• Create a job application

• Describe different types of pre-employment tests commonly used by HRM professionals

• Compare and contrast behavior-based interviews, competency-based interviews, and situational interviews

• Review a candidate’s resume for a quick determination of their basic eligibility for the job

• Write a job offer letter to the candidate of your choice

Unit 7: Managing Compensation and Benefits

Have you ever heard the expression about missing the forest for the trees? It means that sometimes we get too caught up in the small details and overlook the big picture. Well, managing compensation and benefits for a big company requires the HRM team to see both the forest and the trees. HR must evaluate every job role and decide what that job is worth. At the same time, it also has to consider the big picture when creating an overarching system of benefits to serve all employees in the same way. This unit will examine both the details and the whole picture of developing and administering a comprehensive compensation and benefits plan.

What will you learn in this unit?

• Conduct a salary survey and establish pay ranges for each position

• Explain the differences between different types of pay such as hourly, salary, bonus, and commission

• Identify certain benefits that employers are legally required to provide for employees

• List and explain the ins and outs of different discretionary benefits such as retirement plans, health insurance, and paid time off

• Describe the elements of payroll and benefits administration

Unit 8: Performance Management

Human resources (i.e., workers) need to be monitored just like all other company resources. Consider a company’s computer systems. Periodically, computers need to be updated or even replaced if they are not current and don’t work properly anymore. Someone needs to track each computer to make sure it performs effectively or if it needs anything to do its job better. The same is true of the people within a company, and this process is referred to as performance management.

What will you learn in this unit?

• Define the performance management system and describe three key elements of successful performance management

• Explain the main components of the performance planning phase

• Identify and discuss six methods of performance monitoring and employee development

• Understand the purpose of employee appraisals and compare and contrast three types of appraisals

• Describe ways of recognizing strong performance and addressing performance in need of improvement

Whether you plan on starting your own business or being in charge of one, it is crucial you understand how to keep the company compliant. Explore what it means to run an ethical business, how to keep intellectual property, technology, and e-commerce safe and protected, understand insurance and taxes, and how to have a healthy workplace environment. Keep the business safe and growing by following the law.

Unit 1: Ethics and Business

As we begin our study of business law, it is important to make a clear distinction between ethical and unethical, as well as legal and illegal, conduct. After all, not all unethical conduct is illegal—but that certainly does not make it acceptable! All companies are faced with ethical dilemmas at some point or another. These ethical dilemmas can arise in a range of situations and business relationships. Choosing the morally appropriate course of action is always best, even if another choice may be technically permissible under the law. Let’s see how some of our most visible companies face and resolve these types of issues.

What will you learn in this unit?

• Distinguish between ethical and legal behavior as well as unethical and illegal behavior\

• Describe the tools a company uses to make ethical business decisions

• Examine case studies of corporations acting unethically

• Appreciate the regulations that govern lawyers’ ethical conduct in their relationship with clients

• Understand when public officials and lobbyists may or may not accept gifts or money from a company

Unit 2: Developing and Protecting Your Business

Intellectual property laws protect the rights of anyone who creates artistic works or designs. These different types of property rights apply to patents, trademarks, copyrights, and trade secrets. So what happens if you upload a video to YouTube that wasn’t created by you? Depending on how it’s used, you may owe lots of money to the owner of the video! So read on to learn more about intellectual property law and the potential penalties anyone who uses another’s intellectual property without first securing permission may face.

What will you learn in this unit?

• List the different types of patents and the steps to obtain a patent

• Distinguish between a trademark and a service mark

• Describe the copyright and the process for obtaining a copyright

• Compare the civil and criminal remedies for violations of intellectual property protections

• Critique the use of trade secrets and the use of confidentiality agreements

Unit 3: Getting a New Business Started

Have you ever wondered if it’s easy to start a business? Is it as simple as hanging out a sign, opening up the front door, and selling a product? In some cases, it can be that easy, especially if your customers are local, and you specialize in one or two products or services. But as the business grows, it can get a bit more complicated—at this point, a business owner may have to consider what the long-term goals are for the business. So, let’s look at the steps to organizing a business, and how a person who owns and operates a business decides what type of business to build.

What will you learn in this unit?

• List the key steps to building a strong strategic business plan

• Explain the advantages and disadvantages of a sole proprietorship

• Analyze the risks and benefits that come with general partnerships and limited partnerships

• Argue why starting a corporation may be preferable to entering into a partnership

• Identify hybrid business organizations

Unit 4: The Employer/Employee Relationship

As a business begins to grow, owners may not be able to handle all aspects of the company by themselves. In this case, an owner may consider whether they need or want to hire employees to help with the manufacturing and delivery of its products, or providing a service to its customers, especially if doing so makes it easier and more profitable to do business. Easy enough, right? Well, yes and no. If more people get involved in the company, the owners will have to spend more money for salaries and any benefits they offer their new employees. There will be a trade-off: is the company going to be more profitable by expanding even if it means paying employees, or is it better to stay small so the owner reaps all the benefits? In this unit, we explore different types of employees, their rights under the law, and the cost to employers who make the decision to hire employees. We will also examine the changing demographics of the workforce in today’s society.

What will you learn in this unit?

• Critique various types of employees and employer/employee relationships

• Understand what guidelines employers must follow to hire and retain employees

• Investigate current trends in employment and how the human resources department fosters a relationship between employees and employers

• Analyze characteristics of the changing workforce in today’s society

Unit 5: Workplace Behavior

Now that we’ve covered how employer–employee relationships are established, we will explore the day-to-day operations of a company—from both the employer’s and employees’ perspectives. While it might seem that mutual respect should be enough to promote a safe and ethical working environment, companies attain greater success when they take the time to clearly, and repeatedly, train and mentor their employees in standard issues like company policies and anti-harassment measures, as well as exciting developments like new technologies.

What will you learn in this unit?

• Critique how successful businesses train employees to facilitate growth and anticipate pitfalls they may encounter

• Analyze how an effective boss or manager acts as a role model and leader among their employees

• List the expectations that companies, employers, and supervisors have for their employees

• Evaluate and explain the important role employers take in creating a safe work environment for their employees

Unit 6: Technology and eCommerce Best Practices

In the 21st century, businesses how found so many ways to use technology in the workplace. The role of technology is so important that many companies create a department in their organization to deal exclusively with technology. But using technology has both benefits, such as the convenience of online shopping, and risks, such as security concerns. Let’s dive in to explore how companies use technology, what they can do to maximize benefits while reducing risks, and the role of government in all of this.

What will you learn in this unit?

• List the key components of a technology plan, along with essential business hardware

• Determine the type of software applications that will improve the financial and collaborative well-being of a company

• Identify the strengths and weaknesses of a company’s online presence

• Recognize common cyber-crimes and how they impact a business

• Discuss issues involved in government oversight of the internet

Unit 7: Property and Insurance

As we know, the process of starting, running, and growing a business involves many layers of work. And once we’ve done the heavy lifting of getting a business up and running, hiring, and finding the best tech and security solutions, of course we are going to want to protect our assets. Suddenly it seems like the easiest part of operating a business is coming up with the idea for what you want to sell! So now, it’s time we explore the question, “What property belongs to my business, and how can I protect it?” Specifically, we’ll cover real and personal property, how property is transferred from one entity to another, and how the property should be insured.

What will you learn in this unit?

• Differentiate between real and personal property

• Understand how property rights are earned, transferred, and relinquished

• List the types of insurance coverage a business should purchase to protect its property

• Distinguish between insurance that a company must purchase to protect its employees and health insurance coverage, as well as major types of life insurance

Unit 8: Taxes

You know what they say: the only certainties in life are death and taxes. As we wrap up our journey, we will continue to explore the financial costs of doing business, and this, of course, includes paying taxes to the government. Most people who work and earn an income pay taxes on that income, but business owners have some unique opportunities and responsibilities when it comes to taxes.

What will you learn in this unit?

• Identify how tax requirements might differ depending on the organizational structure of a business

• Recognize how sales tax rates differ among varying localities and the impact these rates have on online sales

• Understand how governments use tax laws to regulate the business industry as well as consumer behavior

• Appreciate the obligation employers have to withhold income from employees to ensure compliance with federal and state law

Whether you plan to start your own business, work for an organization, or go into law, it’s essential to understand more complex legal requirements that impact business operations and decisions. This is especially true as companies grow and expand domestically and internationally. Explore the differences between criminal and civil law. Examine how state and federal regulations work to protect consumer and employees’ rights, protect society and the environment, and understand how business contracts can work to protect everyone.

Unit 1: More Business Law Basics

In this unit, we’ll start with the sources of laws and the differences between civil and criminal law. What makes a crime a crime? Then we’ll move on to an overview of the court system because you need to know how the courts work if you ever want to sue someone, or if you get sued, or if you or your business is accused of a crime. We’ll talk about the alternatives to taking a case to court. Finally, we’ll discuss the life cycle of a law firm. (Hint: It’s pretty similar to other service businesses, but it has special records-management problems.) Ready to begin?

What will you learn in this unit?

• Identify the five main sources of law

• Differentiate between criminal and civil cases

• Compare and contrast the federal and state court systems

• Argue the merits of Alternative Dispute Resolution options

• Discuss the business life cycle of a law firm

Unit 2: How Government Regulations Protect Employees’ Rights

So you’ve set up a new business and grown large enough to hire employees. You’re pretty busy, obviously, and you’re probably not thrilled that you have to understand a whole new batch of state and federal regulations that protect your employees. In this unit, you’ll learn what those regulations are and why they’re important.

What will you learn in this unit?

• Justify why the federal government regulates the employer-employee relationship

• Examine federal legislation designed to protect employees

• Evaluate how the Equal Employment Opportunity Commission (EEOC) enforces regulations that protect employees

• Assess the advantages and disadvantages of employment contracts

• Differentiate between union workers and at-will employees

Unit 3: How Government Regulations Protect Society and the Environment

The federal government oversees the public’s general welfare by regulating how companies treat employees, but its oversight doesn’t end there. The government also regulates how businesses treat the environment, even if it means corporations and investors don’t earn their full potential profits. In this unit, we explore environmental and securities regulations, both of which protect society as a whole.

What will you learn in this unit?

• Assess the government’s interest in protecting the environment

• Evaluate the Environmental Protection Agency’s practices and procedures

• Interpret key legislation aimed at stemming environmental hazards

• Analyze how the government oversees publicly owned-businesses

Unit 4: The Ins and Outs of Business Contracts

Running a business requires making deals. When a store sells a video game to you at an agreed-upon price, the store makes money, and you get a new game. That’s a pretty simple deal, but some deals require a more complex oral or written agreement between the parties—called a contract.

In this unit, we’ll explore the laws that regulate contracts, as well as specific types of contracts, who enforces them how, and what remedies are available if a party breaks the contract. We’ll also cover the Uniform Commercial Code, which is a collection of state laws that govern commercial transactions and sales of goods.

What will you learn in this unit?

• Discuss the elements that comprise a valid contract

• Classify various types of contracts

• Distinguish between enforceable and unenforceable contracts

• Evaluate the usefulness of the Uniform Commercial Code

• Predict the available remedies available to an aggrieved party in a contract breach

Unit 5: How Business Law Protects Consumers

“Caveat emptor” is an English proverb that means “buyer beware.” It warns consumers to protect themselves from shady sellers. Fortunately, as buyers of products and services, we’re not in it alone—we have state and federal laws to protect us from unfair business practices. Those laws require fair dealing by both parties to commercial transactions. In this unit, we explore how the law protects consumers and how consumers can protect themselves.

What will you learn in this unit?

• Identify the elements of contracts of sale of goods and the associated obligations of buyers and sellers

• Distinguish between various types of product warranties

• Describe how federal legislation protects consumers in the marketplace

• Evaluate how businesses increase profitability by using client-service strategies

Unit 6: Bribery and Beyond, How Businesses Are Perpetrators and Victims of Crime

When bad things happen to good people, shouldn’t someone have to pay? The law helps victims of wrongdoing achieve justice in the form of criminal punishment or civil liability—the responsible party pays for the harm they’ve caused. In this unit, we explore the elements of criminal and tort law, the most common business crimes and torts, and the consequences the legal system imposes on wrongdoers. We’ll also follow the judicial procedure of a criminal case from arrest to appeal.

What will you learn in this unit?

• Identify the elements of a crime

• List common business crimes

• Compare criminal and tortious conduct

• Distinguish between common torts committed by and against businesses

• Examine the steps the government takes to prosecute criminals

Unit 7: Doing Business Around the World

We now have so much information about other cultures available to us on social media and the internet that it motivates us to explore new markets for goods and services. Could that artisanal candlemaker find a supplier of glass vessels in Mexico to replace the ones no longer available from China? Can that perfume maker find a cheaper, better variety of lavender buds in the Canary Islands? Business owners are in a nonstop race to decrease costs and increase sales, so a broader global market is good for business.

But the benefits of globalization don’t end with corporate profits. Globalization gives developing nations more opportunities to grow their economies. It gives developed countries more access to ideas that help them innovate and improve technology. A global economy challenges individuals, companies, and governments to make decisions that impact lives around the world.

What will you learn in this unit?

• Understand the nature of globalization and its growth since the mid-20th century

• Examine how cultural differences impact business transactions

• Evaluate how international organizations monitor trade agreements

• Analyze the extent to which American companies operate under other nations’ laws

• Distinguish between the advantages and disadvantages of globalization

Unit 8: Winding Up a Business

You probably know of several companies that have been in business for decades or even centuries: McDonald’s has been serving hamburgers since the mid-1950s, Macy’s department stores opened in 1843, and Baker’s Chocolate started selling its sweet confections in 1765. But for every successful long-running company, there are three that failed. The US Bureau of Labor Statistics reports that nearly 20 percent of all businesses close their doors within the first two years, and only 25 percent of all new businesses make it to the 15-year mark.

Not all businesses close because they fail to make a profit. Sometimes, owners decide running a business isn’t worth the time and energy it takes to make it successful. Similarly, they may have a change of heart and want to try their hand at something new. Or the owners retire, and they don’t have someone interested in taking over the reins.

Regardless of the reasons, business owners don’t simply hang a “Closed” sign in the window and lock the front door when they decide to shut down. In this unit, we’ll examine the process of dissolving a business and what happens if the business goes bankrupt.

What will you learn in this unit?

• Understand the common reasons why businesses fail

• Describe the steps a business takes to dissolve

• Distinguish how the dissolution process is different for sole proprietorships, partnerships, and corporations

• Explain which bankruptcy option is most suitable for different forms of business