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Running a small business can be exciting and rewarding if you are prepared for the challenges. Drawing from real-world successes and failures, this concentration can help you acquire management skills to grow your existing small business or face the demands of launching a new one. Take the opportunity to gain valuable insights into the importance of customer relations and strategic marketing and begin applying new tactics immediately in your current business or in the planning phases of a new venture. In this concentration, you will analyze actual business plans and case studies that encompass various small-business models, including franchises, startups, e-commerce, or family businesses.
Students may be eligible to transfer up to 135 credits. At least 45 credits must be completed at Walden.
This sequence represents the minimum time to completion. Time to completion will vary by student, depending on individual progress and credits transferred, if applicable. For a personalized estimate of your time to completion, call an enrollment advisor at 1-866-492-5336.
*If you are currently enrolled or have recently attended a community college or are a CPCU, you may be eligible to transfer courses and accelerate your bachelor’s program at Walden.
Choose 13 courses from general education, BS in Business Administration, or other Walden bachelor’s degree programs. At least 3 courses must be at the 3000 level or higher. Your elective credits should total 65 to meet your program requirements. You may also be eligible to transfer previous credit to meet your elective requirements for this online business administration degree. Note on minors: Electives can also be used to complete a six-course minor.
An introduction to accounting, students in this course take a top-down approach to understanding introductory accounting documents and procedures by exploring a business’s financial statements, including the balance sheet, income statement, and cash flow statement. Students explore the practical uses for information that can be gleaned from these statements, individually and as a whole, through a detailed examination of the properties and characteristics of each statement. Students engage in application assignments and discussions on a variety of topics, such as regulations that should be followed when preparing financial statements as promulgated by generally accepted accounting principles (GAAP). Students examine the U.S. use of GAAP in comparison to the use of International Financial Reporting Standards.
In this course, students examine the fundamentals of probability and descriptive and inferential statistics. Students learn concepts of hypothesis testing, simple regression, and correlation analysis, focusing on the application of these techniques to business decision making. Applying these concepts to analyze hypothetical case scenarios, students can learn practical ways that they can use statistics in their daily life. Students also have the opportunity to share insight and gain new perspectives on these topics through weekly discussions.
The principles of microeconomics explain how, in a market economy, the price system answers the following fundamental economic questions: What goods and services are produced and distributed as well as how and for whom? Students in this course examine the behaviors of households that supply factors of production—natural resources, labor, and capital—to firms and that purchase consumer goods and services. They also investigate firms that maximize profit through their decisions about acquiring factors of production, controlling costs of production, choosing the optimal level of output, competing with other firms under different market structures, and making investment decisions about entering new markets.
Responsible business leaders and decision makers must conduct transactions and operations according to clearly defined rules, laws, and processes to ensure stability and protection for their company. Students in this course examine the legal issues faced by managers, fundamental legal principles, and common issues in the field, such as workplace law, contract disputes, and intellectual property guidelines. Students engage in discussions and application assignments focused on the responsibilities of business professionals, such as understanding the fundamental legal principles in business and commerce; analyzing business contracts; adhering to legal issues in interviewing, hiring, and firing; developing, using, and defending intellectual property; and understanding the regulatory context.
An overview of the concepts, methodologies, and applications of business operations management is provided to students in this course. Students can learn about operations as related to the process of transforming resources into products and services. They explore the responsibility of operations managers to make sound, cost-effective decisions that increase the productivity and competitiveness of manufacturing and service organizations. Students also have the opportunity to learn the process of planning, implementing, and monitoring operations to ensure the continuous improvement of goods and services.
Students examine basic marketing functions and the execution of successful marketing processes. They gain a fundamental understanding of marketing concepts, practices, terminology, associated technologies, and practical applications including customer relationship management.
This course is a comprehensive overview of human resource management for students. They discuss the role of human resources managers as strategic partners who focus on the mission and goals of an organization. Students examine traditional topics, such as job analysis and design, recruitment, selection, performance appraisal, training, staffing, career management, compensation, benefits, health and safety, and employee relations. They also evaluate technology-based resources that aid contemporary HR processes and responsibilities. Through case studies and practical exercises, students work toward gaining the skills that enable them to develop important employment policies and procedures, such as those addressing ethical and equal opportunity issues in regard to legal and environmental regulations. (Prerequisites: BUSI 1002.)
All organizations must collect and analyze financial information to make important decisions regarding operations, such as payments, budgeting, and investing in new business. Students in this course can learn to use financial and managerial finance theory, concepts, and tools to make better financial management decisions as well as to conduct sound financial analysis. They examine the principles of finance from an applied perspective through the examination of difficult strategic and operational decisions that exist in the business environment. Students gain hands-on financial management experience as they compile financial statements, analyze and report financial results, and calculate elements of time value of money for single or multiple cash flows. (Prerequisites: ACCT 1003.)
All businesses rely on systems to process, collect, share, and store important information. The most effective way to help an organization achieve their goals is to understand how to leverage information systems and emerging technology. This course provides students the opportunity to gain skills needed to employ such leverage in the professional arena. Students examine the characteristics of information systems and their role in organizations. They also assess and discuss the impact that information systems have on the enterprise as a whole, in addition to their current architectures, enabling tools, and project cycles. (Prerequisites: BUSI 1002.)
In this capstone course, students use knowledge gained throughout the entire program to demonstrate mastery of various core competencies. The major course project in which students engage is a simulation-based strategic case study. Students apply and integrate a variety of skills, tools, and knowledge to assess the strategic issues in a real-world case analysis and arrive at recommendations for change and/or improvement. Through this course, students demonstrate their understanding and competency in identifying complex problems and solutions. Each student, based on his or her concentration area, will demonstrate validation of skills by taking part in a third-party nationwide simulation/examination administered online.
The focus of this course is on evaluating business concepts and business plans for small businesses so that students can develop strategies for successfully launching and operating a small business. Students examine the small business life cycle and explore resources available to small business owners. Real-world case studies expose students to the challenges of running a small business venture. Topics covered include startup business ideas, financing the small business, legal and liability issues, employment decisions, ethical and moral considerations, and expansion opportunities for small businesses. (Prerequisites: BUSI 3004 or 3008.)
This course addresses the unique aspects of marketing a small business. Students examine market definition, product development, and diversification strategies designed to help small business owners expand their business reach. Students learn effective ways small businesses can leverage technology such as e-commerce, social media, and other online marketing methods. (Prerequisites: BUSI 3008.)
In this course, students learn about the impact of operating decisions on customer relationships as they relate to building, maintaining, and growing a loyal customer base. Students assess approaches to customer relationship marketing and management for competitive advantage. They also evaluate strategies for excellence in customer service within a culture driven to meet and exceed customer expectations. (Prerequisites: BUSI 3008.)
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