Foundations of Business

MANAGEMENT 1104: FOUNDATIONS OF BUSINESS

Spring 2021

SYLLABUS and COURSE CALENDAR 

Instructor:

Ron Poff Assistant Professor of Practice Office: 540-231-7954 ronpoff@vt.edu Office: Pamplin 2075

Class:

CRN: 17832 Class Times: M, W, F ... 1:25pm (Face-to-Face) Locations: NCB 320  Office Hours: Mondays & Wednesday, 4:15-5:15pm in NCB 320 Zoom Link for Office Hours

MGT1104 Undergraduate Teaching Assistants (UTA)
Spring 2021
Name	email	Office Hours	Office Hours Zoom Link
Drew Weidman	dreww15@vt.edu	Monday & Wednesday 6-7pm	Zoom Link
Jenna Nicholson	jlnich00@vt.edu	Tuesday & Thursday 4:30-5:30pm	Zoom Link
Keenan Murphy	kennanm4@vt.edu	Monday & Wednesday 4-5pm	Zoom Link

 

Click here to jump to the COURSE CALENDAR

COURSE DESCRIPTION

Foundations of Business exposes students to the free enterprise system and the various business functions, such as management, human resources, marketing, production and operations, accounting and finance, as well as to the different types of businesses such as manufacturing and service. Analysis of business functions is performed to help improve understanding of career interests and opportunities, as well as to provide a basic understanding of how a company operates. This course is intended to form a foundation for study for all business majors.

Learning Objectives: Having successfully completed this course, the student will be able to:

• Explain the basics of how business works in a free market economy
• Describe various business functions
• Utilize essential business terminology
• Relate current business events to topics in the course
• Research issues and topics through the ethical and responsible collection, analysis, and use of information (inquiry skills)
• Design, evaluate, and implement a strategy or strategies to answer an open-ended question or to achieve a desired goal (problem-solving skills)
• Make connections between ideas and experiences, and to apply them to new learning situations (integration skills)

Daily learning objectives for the course are published under Modules. For a print version of this syllabus, please copy and paste the content into a blank word document.

Prerequisites: None

Required Materials:

Text: This course utilizes a free, open source book provided in online form. Assigned readings are listed in the appropriate module on this course website. Students who prefer a hard copy without printing it themselves may purchase the book at the link provided below.

Link to Order a Print Copy of the Textbook

News: Morning Brew is a business news digest that is specifically intended for a younger audience. To subscribe, simply click on this link. You will receive a daily email with the top stories from the day before. Morning Brew news items will be included on pop quizzes and covered when the items relate to material being covered in the chapter readings.

The Wall Street Journal is a more comprehensive new source. Although we will not use it directly in the course, students who wish to subscribe can do so at a substantial discount. You can order at the following link: https://r.wsj.com/PROFfmdg.

The business simulation CapSim Core will be used in this course. Each student must register for the simulation individually, at a cost of $25 each. If you anticipate having financial difficulties that would prevent you from registering, please contact the Dean of Students office as early in the semester as possible. There are funds available to assist in these cases, but they may be claimed quickly. This simulation represents the only paid materials for the course. We hope you will agree that $25 for a course is reasonable.

ASSIGNMENTS:

See the Assignments tab for complete details on all assignments.

1. Business Simulation - Team: See Description under Assignments
2. Business Simulation - Individual Training: See Description under Assignments 
3. Quizzes will take place online during class at any point during the semester - they may be announced or unannounced. Questions will come from the chapter readings, videos, and from selected articles from the Morning Brew reading. For grading purposes, the quizzes are equally weighted. There will be three "special purpose" quizzes based on (a) the library material; (b) the VT honor system; and (c) the alumni roundtable. The number of quizzes will not be disclosed in advance. The lowest quiz grade will be dropped.
4. Live Case Assignments: See descriptions in HR Live Case and KIND Brands modules (you will only submit one of the two cases but should prepare both for class)
5. Lyft Focus Group: Working in assigned teams, students will conduct in-class focus groups with each team writing a short report to the Director of Small Market Strategy at Lyft. The director will provide the questions to which the student groups will respond.
6. Financial Statement Exercise: Working in teams of 3, students will create an income statement and balance sheet working from a list of basic accounting transactions.

EXAMS:

There will be three exams that will include primarily short answer questions as well as a small number of essays and/or problems. Exams are cumulative and test your retention of material from previous parts of the course, so the percentage grading weight increases for each successive exam.

Attendance: (Revised on 1.21.2021)

As you know, COVID-19 has required major adjustments to large group gatherings. In this class, all lectures will be delivered Face-to-Face and available via a recorded version as well which will be available before the topic appears on the calendar. On indicated class days (see calendar), the instructor will be in the classroom to do Q&A in a live setting, based on the topic listed on the calendar on that day. Classroom capacity revisions dictate that no more than 49 students may be in the classroom at a given time. Space will be available based on a group rotational schedule (based on survey results at the beginning of the semester). Given this format, attendance cannot be taken and will not factor into the grade. In order to make sure that all students have sufficient access to the instructor, online office hours will be available on an individual basis on both a pre-scheduled and appointment basis. 

TEACHING ASSISTANTS

The college of business has provided undergraduate teaching assistants (UTA's) for this course. These are students who have already successfully completed MGT 1104 and have made themselves available to help their fellow students. The teaching assistants will hold virtual office hours each week to help you with any questions or special help you may need. These are in addition to the office hours held by the instructor - you may use whichever are more convenient or comfortable for you. The UTA's for your instructor are:

TBD

WELLNESS PRINCIPLES

Virginia Tech is committed to protecting the health and safety of all members of its
community. By participating in this class, all students agree to abide by the
Virginia Tech Wellness principles.
To uphold these principles, in this class you must do the following:
● Wear a face covering during class, including as you enter and exit the classroom
● Maintain the designated distancing guidelines of the classroom
● Enter and exit class according to posted signage
If you are exhibiting even the slightest sign of illness, you must not attend an in-person
class. Notify me by email and follow the instructions posted at the following
Link.

One of the MGT 1104 instructors has developed a list of resources to assist students taking the course online, many of which would also be valuable to those taking the course in hybrid format. Students are encouraged to consult this page for more information.

GRADING:

• Business Simulation - Team 15%
• Business Simulation - Individual Training 2.5%
• Quizzes (based on average of all quizzes, lowest dropped) 10%
• Live Case Assignments 5% (one submission only)
• Lyft Focus Group Report 5%
• Financial Statement Exercise 5%
• First Year Experience Assignments 2.5%
• Exam 1 12.5%
• Exam 2 17.5%
• Comprehensive Final Exam 25%

Grading Scale

A = 93 or higher	C = 73 – 76.99
A- = 90 – 92.99	C- = 70 – 72.99
B+ = 87 – 89.99	D+ = 67 – 69.99
B = 83 – 86.99	D = 63 – 66.99
B- = 80 – 82.99	D- = 60 – 62.99
C+ = 77 – 79.99	F = 59.99 or below

Please be aware in advance that averages will not be rounded up.

UNDERGRADUATE HONOR CODE:

The Honor Code pledge that each member of the university agrees to abide by states:

"As a Hokie, I will conduct myself with honor and integrity at all times. I will not lie, cheat, or steal, nor will I accept the actions of those who do".

Students enrolled in this course are responsible for abiding by the Honor Code. A student who has doubts about how the Honor Code applies to any assignment is responsible for obtaining specific guidance from the course instructor before submitting the assignment for evaluation. Ignorance of the rules does not exclude any member of the University community from the requirements and expectations of the Honor Code.

For additional information about the Honor Code of Virginia Tech, please visit: (www.honorsystem.vt.edu) 

All assignments shall be considered individual submissions unless specifically identified as group work, meaning that no sharing of materials or other collaboration is acceptable.

The typical university penalty for an honor code violation is an F in the course, with an * indicator on the transcript that the F resulted from an honor violation.

STUDENTS WITH DISABILITIES:

If you are in need of accommodations due to a disability recognized by the Americans with Disabilities Act, please contact the Services for Students with Disabilities office at Virginia Tech (www.ssd.vt.edu) and follow their instructions regarding notification of your professors. Please be aware that testing space at the SSD office will be very limited this semester, so making your requests early will improve your chances of having that space available if you prefer that environment. If you have emergency medical information to share with the instructor or need to make special arrangements in case the building must be evacuated, please notify the instructor as soon as possible.

A NOTE ABOUT FYE COURSES

Foundations of Business is a university-approved First Year Experience (FYE) course. The FYE program is designed to equip first-year students at VT with the tools necessary to engage in substantive exploration and discovery of themselves and the world around them. We will pursue this objective through curricular and co-curricular opportunities, in order to help students develop into reflective and responsible learners and citizens. The program is focused on the development of lifelong learning skills - problem solving, inquiry, and the integration of knowledge.

Please click on this link for a full COURSE CALENDAR   

What is listed below is generated automatically by Canvas but only reflects key due dates. Times may be incorrect because of limitations in Canvas.