392396: Fundamentals of Business Administration and Management
- Summer 2023
- Section 1
- 4 Credits
- 06/26/2023 to 09/10/2023
- Modified 05/15/2023
A majority of businesses fail within the first two years, and a significant percentage of the initial survivors don't last much longer. There are many reasons for this, including inexperienced management, lack of sufficient capital, failure to do proper marketing, and a lack of financial competency. The bottom line is that most managers don't know how to properly systematize, structure, and manage their businesses. They don't know because they're not aware of where or how to find this information. This course is designed to teach students how to properly structure, systematize, and manage a business of any size or type, service, or product--and in any industry.
After you have completed this course, you will be able to:
- Recognize business environment trends and analyze their impact on your business.
- Develop successful strategies for competing in domestic and global markets
- Recommend the right business structure for your business
- Be a more effective leader and motivator of your employees
- Recruit, select, train and retain employees
- Develop and execute an overall Marketing Plan
- Converse more efficiently with business experts in the fields where you have less education and experience
- Understand how to manage a business from a macro viewpoint.
Understanding Business, The Core
- Author: Nickles, McHugh, McHugh
- Publisher: McGraw Hill Irwin
- Edition: 3rd edition (Loose-leaf)
- ISBN: ISBN 9781266131707
The UCLA bookstore offers both the hardback text (ISBN above) and a loose-leaf version at a slightly lower price. Additionally, if you log onto the McGraw Hill web site and search for the ISBN above, it will give you the option to purchase a digital version.
Students will be completing 3 different Grading Components each week. The Grading Components will be weighted according to the following distribution:
|Weekly Discussion Questions||30%||
There will be at least 3 discussion questions set up in a threaded discussion format. This will be the one area where the instructor will have interaction with the students and they can have interaction between themselves. Students are expected to post their own answers to each question and comment on at least one other student’s postings.
|Weekly Homework Assignment||25%||
A 1 – 2 page minimum paper will be turned in as the Assignment. These weekly assignments will require the students to relate the course material for the week to current events in the business community.
Each week the students will be required to complete a short answer quiz of 5 questions.
The final exam will consist of a series of essay questions. The questions will be posted on the first day of week 10 and turned in no later than the last day of week 10.
Content of the work submitted will be the most important determinant of the grade assigned. If you are familiar with APA format, feel free to use that approach, but it will be an optional format. The assignments are to assess whether the student understands the material and can apply that knowledge to the assignment. All assignments should be spell checked and grammar checked prior to submission.
|B||<90 - 80|
|C||<80 - 73|
|F||<73 - 0|
This course is offered on-line, over the Internet. Students are expected to devote a minimum of four hours per class week, participating in the course requirements. Many students spend more than fours hours weekly, but that should be the least you should prepare for, to get the most out of the course.
A class week is defined as the period of time between Monday morning and the following Sunday evening, Eastern Standard Time, USA. Assignments scheduled for completion during a class week should be completed by midnight, Sunday night of the week assigned.
Ground Rules for On-line Participation
- Students should use E-Mail for private messages to the instructor and other students. All assigned course work should be submitted to the Course Web Page.
- Students are expected to complete 4 hours per week, participating in the course requirements. This includes reading assigned chapters of the text, posting answers to the threaded discussion questions, writing and posting written assignments and taking the quiz.
- Conventions of "on-line etiquette," which include courtesy to all users, will be observed. Students are encouraged to visit http://www.albion.com/netiquette/ for a review of proper communication in electronic formats.
- Students will normally submit papers as .doc (Word) files. Two other additional acceptable formats are .PDF (Adobe) files, or .rtf (Rich Text Format). Because many students have different word-processing software there needs to be a common program to make sure the instructor can open your assignments
UCLA policies are in effect. All your work must be your own, unless peer collaboration is authorized, in which case you must, in writing, acknowledge the help you have received. Presenting as one's own the words, ideas, or expression of another in any form is cheating through plagiarism, and will not be tolerated. The claim of ignorance is no excuse. Submitted papers and assignments will be randomly submitted to www.turnitin.com, a plagiarism search engine that will identify works that are obtained from Internet sources or that are copied verbatim from published works.
All Grades are Final
No change of grade may be made by anyone other than the instructor, and then, only to correct clerical errors. No term grade except Incomplete may be revised by re-examination. The correction of a clerical error may be authorized only by the instructor of record communicating directly with personnel of Student and Alumni Services.
The interim grade Incomplete (I) may be approved for a student who has completed the majority of the course requirements, with passing quality (grade C or higher), but is unable to complete a small portion of the coursework by the course end date for good cause. For courses in which an Incomplete may be allowed, approval by the instructor of record and the academic program director is required. The Incomplete grade is not an option for courses that do not bear credit, such as 700, 800, or 900-level courses.
- It is the student’s responsibility to petition for an Incomplete by emailing the appropriate academic program department at least one week before the end of the course. The Program Department will initiate the petition process once the email is received.
- The student, the instructor, the CE/Program Director, and the program staff must complete the petition prior to the final course meeting or before the quarter end date. This process can take up to one week to complete.
- The instructor will approve or deny the request. The instructor will provide details on what the student needs to accomplish in order to complete the course, as well as a due date for submitting completed work. The due date cannot exceed the end of the ensuing quarter when a final grade must be reported or the Incomplete lapses to the grade “F,” “NP,” or “U.” Visit UCLA Extension Grading Scale for more information.
An Incomplete allows the student to complete only work that is outstanding and does not allow prior completed work to be retaken or resubmitted.
The University of California is committed to creating and maintaining a community where all individuals who participate in University programs and activities can work and learn together in an atmosphere free of harassment, exploitation, or intimidation. Every member of the community should be aware that the University prohibits sexual harassment and sexual violence, and that such behavior violates both law and University policy. The University will respond promptly and effectively to reports of sexual harassment and sexual violence, and will take appropriate action to prevent, to correct, and when necessary, to discipline behavior that violates our policy.
All Extension students and instructors who believe they have been sexually harassed are encouraged to contact the Department of Student and Alumni Services for complaint resolution: UCLA Extension, 1145 Gayley Ave., Los Angeles, CA 90024; Voice/TTY: (310) 825-7031. For more information, please view the University’s full Policy on Sexual Harassment and Sexual Violence.
Services for Students with Disabilities
In accordance with the Americans with Disabilities Act of 1990, UCLA Extension provides appropriate accommodations and support services to qualified applicants and students with disabilities. These include, but are not limited to, auxiliary aids/services such as sign language interpreters, assistive listening devices for hearing-impaired individuals, extended time for and proctoring of exams, and registration assistance. Accommodations and types of support services vary and are specifically designed to meet the disability-related needs of each student based on current, verifiable medical documentation. Arrangements for auxiliary aids/services are available only through UCLA Extension’s Service for Students with Disabilities Office at (310) 825-7851 or by email at [email protected]. For complete information, please visit Accessibility and Disability Services.
Students are subject to disciplinary action for several types of misconduct or attempted misconduct, including but not limited to academic dishonesty, such as cheating, multiple submission, plagiarism, or knowingly furnishing false information to the University; or behavioral misconduct, such as theft or misuse of the intellectual property of others, harassment, or disruption of the learning environment. Students are encouraged to familiarize themselves with the Student Rights & Responsibilities Policy and to report concerns.
Protecting Privacy and Data During Live Instruction
Live meeting sessions for this class, when applicable, are being conducted over Zoom. As the host, the instructor may be recording live sessions. Only the host has the ability to record meetings, no recording by other means is permitted. Recorded sessions will be posted in the Videos area of this class unless otherwise notified. Due to privacy, recordings are not available for download and are only accessible via Canvas for the duration of the class. If you have privacy concerns and do not wish to appear in the recording, do not turn on your video and/or audio. If you also prefer to use a pseudonym instead of your name, please let the instructor know what name you will be using so that the instructor knows who you are during the session. To rename yourself during a Zoom meeting, click on Participants, click on your name, click on More, click on Rename. If you would like to ask a question, you may do so privately through the Zoom chat by addressing your chat question to the instructor only (and not to ""everyone""). Additionally, chat may be used and moderated for live questions, and saving of chats is enabled. If you have questions or concerns about this, please contact the instructor via Canvas Inbox.
Pursuant to the terms of the agreement between Zoom and UCLA Extension, the data is used solely for this purpose and Zoom is prohibited from re-disclosing this information. UCLA Extension also does not use the data for any other purpose. Recordings will be deleted when no longer necessary. However, recordings may become part of an administrative disciplinary record if misconduct occurs during a video conference.
Course and Instructor Evaluation
UCLA Extension values your feedback on course and instructor evaluations. We ask all students to take a few minutes to complete an end-of-course evaluation survey. Updates to the course and instruction are influenced by your feedback. Understanding your student experience is essential to ensure continuing excellence in the online classroom and is appreciated by your instructor and the UCLA Extension academic leadership.
Your participation in a survey is voluntary, and your responses are confidential. After instructors submit grades, they will be given an evaluation report, but this report will not contain your name.
About Your Online Course Materials
Please note the following about online course components at UCLA Extension:
- Students must have basic computer skills, including the use of word processing software, email, and the ability to use internet browsers, such as Safari, Firefox, or Chrome.
- Students are responsible for meeting the technical requirements of Canvas and familiarizing themselves with the Canvas Learning Management System.
- Students are responsible for keeping a copy of all assignments and work submitted, and to be aware of all assignments, due dates, and course guidelines.
- Students have access to courses via Canvas for an additional 30 calendar days after the course end date listed in the syllabus (the first 14 days are full access; the rest are read-only).
- Students are encouraged to download/print content throughout the duration of the course and before the additional 30-day access ends. No further access is possible after the course becomes unavailable.
To download all your assignment submissions in Canvas, please refer to the online support guide. for more information or contact Canvas Support via the help menu within Canvas.
UCLA Extension Canvas and Learning Support
For immediate 24/7 Canvas technical support, including holidays, click on Help (located on the menu to the left) where you can call or chat live with a Canvas Support representative.
UCLA Extension Academic Technology and Learning Innovation
The UCLA Extension Learning Support staff assists both students and instructors with Canvas-related technical support, as well as general and administrative questions.
Learning Support staff is available Monday through Friday, from 8 AM to 9 PM (Pacific Time), except holidays:
- Email: [email protected]
Campus Safety Escorts
For students taking classes held on the UCLA campus and in and around Westwood Village, the UCLA Police Department provides a free walking escort service every day of the year from dusk until 1 a.m. Community Service Officers (CSOs) are available to walk students, faculty, staff members and visitors to and from anywhere on campus, in Westwood Village, and in the village apartments. CSOs are uniformed students who have received special training and are employed by the UCLA Police Department. To obtain an escort, please call (310) 794-9255 and allow 15 to 20 minutes for your escort to arrive. For complete information, see UCLA Evening Escorts.
Week 1 6/26 - 7/2
||Domestic and Business Trends||
Text Read Chapters 1 & 2
What are some of the most significant trends within each of the 4 business environments (Economic, Technological, Competition, Social) and what is driving them? The question requires you to identify 4 different trends – one each for each of the 4 environments.
Complete the Week 1 quiz
Week 7/3 - 7/9
||Ethical Behavior and Social Responsibility||
Text Read Chapters 3
Select ONE of the following 2 options to complete your assignment:
Option 1: Choose a company that has been in the news within the last two years for an unethical situation, decision, or activity. What ethical guidelines did it break or ignore, and how could this incident have been avoided?
Option 2: With the exception of companies listed in Figure 3.4, page 77, describe a company that you believe is doing an outstanding job of practicing Corporate Social Responsibility and explain why you have that belief?
Remember, the report minimum is 1 - 2 pages
Complete the Week 2 quiz
Week 3 7/10 - 7/16
||Legal Organizational Options for a Business||
Text Read Chapters 4 & 5
The assignment is to review any list of available franchises and research one that would be of interest to you - assuming you had the investment capital and desire to buy a franchise. Even if you have no desire to buy a franchise, its still interesting to find out what's involved in buying a franchise, why one is different than another, how established franchises differ from start up franchises, etc.
Take the Week 3 quiz
Week 4 7/17 - 7/23
||Leadership and Management Styles||
Text Read Chapters 6
Research one of the leading business men or women of our time. What makes them so successful? What’s unique about them? What’s their leadership style? Would they have been successful in any venture, or did they just get lucky with their initial venture?
Take the Week 4 Quiz
Week 5 7/24 - 7/30
Text Chapter 7 & 8
Most large organizations have a highly defined organizational structure. Employees, departments, executives all have defined roles, process and procedures within which they function, that have evolved over many years.
In 2020, the Corona Virus exploded. Almost overnight, all this changed. Companies shut down large office complexes and told employees to work from home. Instead of flying employees to regional or corporate meetings, companies switched to Zoom meetings. Trade conferences once attended by thousands were cancelled. International business travel ground to a halt. Initially, everyone thought this might be for a month or two, certainly no more than three.
But a funny thing happened. That maximum time of three months became an indefinite hiatus with no end in sight. And company after company found their new organizational structure was as productive, if not more so, than the organizational structure they had been using for years. We are starting to see many large companies move to make these 'temporary ' changes permanent. Many of the large hi tech companies of Silicon Valley are now telling most of their employees to plan on working from home as their new normal. Now instead of paying San Francisco level housing prices, people can relocate from SF to places like Boise Idaho, or Yuma Arizona and deal with a reasonable cost of living. Company after company in New York City are letting their employees move to low cost of living states and working from home. Companies that used to lease 20 floors of exorbitant cost office space are downsizing to 2 or 3 floors. Companies that own large office buildings are selling them (good luck finding buyers!)
Discus what types of problems this sudden, overnight, change in organizational structures presents for large organizations? What types of challenges do they have to overcome? How do you create a whole new corporate culture that is supportive of the corporate mission? How do you get employee buy-in on all these total organizational changes?
Take the Week 5 quiz
Week 6 7/31 - 8/6
||Motivation and Management of Human Resources||
Text Read Chapters 9 & 10
Millennials, generally defined as those born between 1982 and 2004, have just recently surpassed Baby Boomers, generally defined as those born between 1946 and 1964, as the largest segment in the U.S. workforce when you break the workforce down by age. It has been widely discussed that Millennials are motivated by very different factors than those traditionally used to motivate Baby Boomers.
Assume you are the VP of a Fortune 500 company and you know the majority of your employees are now Millennials. What changes would you suggest you make in your approach to compensation and benefits to more directly appeal to your new majority of employees, while at the same time keeping your Baby Boomer employees happy?
Take the Week 6 quiz
Week 7 8/7 - 8/13
||The Marketing Function||
Text Read Chapter 11
Following are a few major U.S. companies that were highly successful for many years but now are totally out of business or a mere fraction of what they once were: Compaq Computers, Kodak, Radio Shack, Circuit City, Enron, Blockbuster, Pan Am Airlines, Tower Records, Polaroid, Lionel Corp., Bethlehem Steel, Atari, The Sharper Image, Borders and Toys R Us.
Select one company to review and analyze. What was the primary cause of its demise? Did management (or rather mismanagement play a role, or was it just a victim of the times with changing technology and lifestyles? Could anything have been done to save your selection?
Take the Week 7 quiz
Week 8 8/14 - 8/20
||The Marketing Mix: Product, Price, Place & Promotion||
Read Chapter 12
1. A few years ago, Amazon bought Whole Foods. The strategy was to add Whole Foods merchandise to Amazons building home grocery delivery service. They immediately dropped prices on Whole Foods (who had the nickname Whole Paycheck because of high prices) products. The reasoning was that they felt they could make a profit by increasing the economies of scale within their organization, instead of relying on high prices.
As Wal Mart built their online business, they used the same approach. They kept online prices comparable to their store prices, to help build their online business and to give customers the option. Internal results showed the approach was working, as online sales were increasing much faster than store sales. One thought was that Wal Mart shoppers were abandoning the stores for the Web site.
Now Wal Mart is changing their strategy. they have slowly, but methodically, raised the online prices of thousands of items compared to their store based prices. They have come to the conclusion that online shoppers were online shoppers primarily for time and convenience and would rather pay a higher price to have goods ordered in the comfort of their home and delivered instead of driving to a store, fighting the crowds and driving home. If they are right, and online business continues to grow even with a higher markeup, this will be very beneficial to their bottom line.
So are online shoppers motivated more by time and convenience savings, or money savings? (No fair saying all are motivating factors because they are. Its a matter of which is the stronger motivating factor). What's the tipping point in pricing between buying online and in a store? For example, if a 12 pack of Coke sells for $8 in a store, and $8 online (no shipping charge) it makes sense to do the online ordering to save time and convenience. If the online price goes to $8.10, you would probably still go online. But what if the online price goes to $9. Now the decision is a little more challenging. Will WalMarts new pricing strategy help their bottom line or hurt their sales growth?
On a similar note, Instacart has partnered with a number of supermarkets to provide same day home delivery. this has proven very popular with people who are not comfortable going to the store in person. The one downside is that when you order through Instacart, it automatically adds a 15% gratuity to the order. This is how Instacart makes money. So far, it doesn't seem to be a factor in sales growth. People are OK with a 15% cost of delivery to avoid the in person store trip. Is that a viable pricing strategy for the long term? When we get back to normal times (whatever and whenever that is) do you feel people will be comfortable with the 15% delivery charge, or will they go back to doing their own shopping.? New habits can be as difficult to break as old habits.
2. Discuss a recent Marketing Communication you have observed that did not work as planned. What could have been done to make sure it worked instead of failing? For example, a recent catalog of Abercrombie and Fitch used young looking, almost nude models throughout the catalog. While it thought that approach might effectively capture the interest of its target market (college age students), it did not count on a backlash from parents and churches who felt it was inappropriate and that forced it to pull the catalog and redo it at considerable expense.
3. Why is it important to differentiate your product from your competitors? Provide an example of a product that has successfully differentiated itself from its competitors and show how it did so.
For example, Pringles is the only potato chip sold in a tube. All others are sold in bags.
Here's another example. A Bloody Mary is a very popular weekend morning drink that uses vodka, a tomato based mix, hot sauce and spices. There are dozens and dozens of vodka brands you could pick from but only one - BAKON - is a bacon flavored vodka designed and advertised to be used in Bloody Marys to enhance the tomato based taste. They also promote this use on the packaging. It is slightly more expensive than most other vodkas but has a very loyal following because of the way it has differentiated itself from its competition with a unique taste.
Find two companies that are both successful yet use two different Channels of Distribution.
For example, both Avon and Revlon make and market woman’s cosmetics. Revlon sells through a variety of retail and department stores. Avon, on the other hand, sells through personal networking – you can’t buy Avon in a store.
(And you can’t use Avon/Revlon as your example!)
Week 9 8/21 - 8/27
||Managing Business Information||
Text Read Chapter 13 & 14
1. What are some of the newest uses of technology that you have seen in your workplace or read about? For example, the use of ZOOM for digital conference calls has exploded exponentially.
3. Read Making Ethical Decisions on page 396 of the text. As the lone accountant for Fido's Feast, what would you do?
Develop an Internet Access policy for a small business of 500 employees. Discuss who will have access, what they will be allowed to use it for, what is prohibited use, penalties for breech of the policy, how the policy will be enforced, etc. Submit a format that would allow your policy to be posted to a department bulletin board.
Week 10 8/28 - 9/3
||Managing Financial Resources||
Read Chapters 15 - 16
1. Chapter 16 discusses many of the services provided by the US Banking system through its many banks - checking accounts, CDs, safety deposit boxes, brokerage services, counseling, loans, automated deposits, automated bill paying, and many more.
What's changed recently is how the banks provide those services. Traditionally, you had to physically walk into a bank to obtain those services. Then we saw the use of drive up windows, followed by ATMs at multiple locations, followed by banking through your smart phones or computers. Many banks have closed hundreds of local branches because no one is physically going into banks anymore (or at least not enough to have multiple branches in a given geographic area) to obtain the services they need.
How have you observed changes in how banks deliver services in your lifetime? Do you view them as positive or negative changes? What do you see as the future of consumer banking?
2. The Federal Reserve Board is generally considered to be one of the most important agencies in the Federal Government. Because of its independence, some consider it the 4th branch of government. Even though the President appoints the Chairmen and the other 6 Board members, it is almost constitutionally impossible for the President to remove any of the Board members or Chairmen.
The Fed is in the news almost daily right now because of its role in trying to stimulate the economy that has been shut down for the Corona virus. Find one article about action the Fed has recently taken (or not taken - sometimes taking no action can be the best way forward), give us a short summary of the article and why this was important to the economy.
3. In the past few years we’ve seen a number of corporate scandals and most all involve some type of fraudulent accounting practices. Just last year the CEO of Wells Fargo had to step down because of in house scandals where sales agents were opening bogus additional accounts for current customers to meet new account goals. How important is it for company executives to balance the need to meet financial goals and keep the company growing and profitable, against the need to make business decisions ethically (not just legally), and to run a company for the long term, as opposed to just meeting short term goals that max out their quarterly bonuses
4.As a company CEO, what do you feel are the most important financial statements you need to see to help you run your business most profitably and why do you feel those those statements are the most needed?
Week 11 9/4 - 9/10
Text: Review text readings from previous 10 weeks
Discussion Questions Discussion Forums will be open all week to allow anyone to review past discussions or to seek clarification of a topic prior to taking the Final Exam.
Complete the Final Exam