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• Kwame Adom PhD is the lecturer for UGBS 101: Introduction to Business Administration (IBA).
• Alternative Pricing Strategies include Price skimming, Penetration pricing, Discounting, Everyday low pricing (EDLP), Bundling, and Psychological pricing.
• Principal Pricing Strategies include Cost pricing, Target costing, and Competitive pricing.
• The course provides a survey of the business world, covering the basic principles and practices of contemporary business.
• Consumer Oriented Sales Promotion: Business - to - Consumer (B2C) is a marketing strategy.
• Word - of - Mouth Marketing is a marketing strategy.
• Trade Promotion: Business - to - Business Promotion (B2B) is a marketing strategy.
• Guerrilla Marketing is a marketing strategy.
• The Business Environment: Forces that Encourage and Discourage Entrepreneurship
• Achieving Success in a Small Business
• Upon completion of the course, students should be able to demonstrate an understanding of business concepts as a foundation for studying other business subjects.
• Seven Key Business Rules: The Great Adventure of being in Business in the 21 st Century
• Small Business and Entrepreneurship
• The Entrepreneurial Spirit
• Entrepreneurship & the Factors of Production, The Creative Fire of Business
• Understanding Money and how it is controlled is a crucial aspect of financial management.
• Financial Management and Financial Planning are key aspects of business operations.
• Getting Short-Term and Long-Term Financing is a crucial aspect of financial management.
• Finding Funds to Keep the Firm Operating is a crucial aspect of financial management.
• Banks and Other Financial Institutions are important components of the financial management landscape.
• The Changing Banking Environment: Regulation, Deregulation and Financial Panics is a crucial aspect of financial management.
• The course covers topics such as Starting Out, Forms of Ownership, The Entrepreneurship Spirit, Management and Leadership, Human Resources, Marketing, Finance and Investment.
• The course objective is to identify and describe the influence of the environments created by the economy, technology, competition, diversity, global opportunities, and social responsibility.
• The course also aims to compare the advantages and disadvantages of the major forms of business ownership and discuss why many people are willing to accept the risks of entrepreneurship.
• The course explains the need for management in business organizations, the role of management in developing an organizational structure, and the process of producing products and services that satisfy customers.
• Financial leverage and cost of capital are important considerations in financial management.
• Savings institutions include Savings and Loans and Mutual Savings.
• Short-term and long-term financing are essential for managing everyday business activities, extending credit to customers, keeping enough product available, and making major investments.
• The Fed controls the money supply by influencing the availability of credit and money, and by changing interest rates.
• Credit unions offer non-interest-bearing accounts and loans.
• Financial Management and Financial Planning are key aspects of running a business.
• The money supply is created by the Fed's Board of Governors and 12 Reserve Banks, Fed's Member Banks, and commercial banks.
• Commercial banks offer deposit accounts such as checking, savings, NOW, money market, and CDs.
• Financial institutions include commercial banks, savings institutions, credit unions, and nonbanks such as insurance companies, pension funds, finance companies, and brokerage firms.
• Money is a medium of exchange, a store of wealth, and a standard of value.
• Confidence is a crucial aspect of the changing banking environment.
• Finding funds to keep the firm operating is crucial for financial success.
• Financial resources are protected by the Federal Deposit Insurance Corporation (FDIC), Savings Association Insurance Fund (SAIF), and National Credit Union Administration (NCUA).
• The course describes the management role of acquiring and retaining human resources and creating a supportive work environment.
• The changing banking environment has been influenced by regulation, deregulation, risky investments, the beginning of the 2008 crash, and links to the global financial system.