Goshen College

Business

Introduction

The business department offers three majors and four minors:

• Major in accounting
• Major in business
• Major in business administration
• Minor in accounting
• Minor in business
• Minor in entrepreneurship
• Minor in global economics

The department also sponsors several non-credit continuing education programs in business through the Center for Business and Entrepreneurial Education. Visit the business department Web site at www.goshen.edu/business.

We encourage students to complete both a major and minor in the business department. However, a double major is not possible, since there is significant overlap in the courses required for majors in this department.

The business administration major leads to a bachelor of science degree. (All other majors lead to a bachelor of arts degree.) The business administration major is a new program for adult students in an accelerated, year-round schedule of 7-week and 14-week courses offered on campus and online. This program includes a modified Goshen Core and courses specific to the business administration major.

Career and postgraduate opportunities

Business within a liberal arts context provides a strong foundation for succeeding in today's complex and multi-disciplinary business environment. As part of a Christ-centered college, the business department at Goshen College models a community of faith and learning by incorporating lessons of ethics and social responsibility in all aspects of the business education process. Students are encouraged to question, research, and explore the impact of every business decision on customers, investors, employees, and the environment.

Students with a degree from the business department are prepared for career opportunities in a broad range of businesses and nonprofit organizations. Many graduates pursue masters and doctoral degrees in all areas of business, accounting, information systems, economics, and law.

Accounting – Accounting graduates have career opportunities in auditing, banking, financial analysis, financial planning, taxation, as chief financial officers and controllers. Graduates with 150 credit hours are qualified to take the Uniform CPA Examination in order to qualify for licensure as a Certified Public Accountant.
Business – Business graduates are currently working in business, education, banking, overseas development, church offices and many not-for-profit organizations. Their careers span the fields of marketing, human resources, management, finance and operations. Many also work in consulting or have started their own businesses.
Economics – A global economics minor can complement any major course of study. Economics courses are designed to provide students with a deeper understanding of economic relationships and allows students to explore those relationships with a focus on international and environmental issues.
Entrepreneurship – An entrepreneurship minor can complement any major course of study. Entrepreneurship courses encourage students to be creative and innovative. Developing skills in entrepreneurship will enable students to identify opportunities and solve problems in a variety of work environments.

Informatics and business

For students interested in applying computing to business, see the Informatics department pages. A major in informatics is available with a business cognate. Students may also complete a minor in informatics.

Teacher education certification

Teacher certification in business is available for grades 5-12. Courses needed in addition to business major requirements are Bus 322 and Econ 306 or Bus 350. Also required are 30 credits of education courses, including a semester of student teaching. The first education class, Educ 201, should be taken in May term of the first year or fall of the sophomore year. See the education department pages and the Teacher Education Handbook for more details about requirements.

Minimum academic requirement for majors and minors

All business department majors and minors must earn a grade of C- or higher in all courses required for their major and/or minor. Failure to attain this level of achievement requires the student to either repeat the course (for specific requirements) or take an additional course (an option for elective courses) and achieve a grade of C- or higher.

Accounting courses

ACC 201 Principles of Financial Accounting 3
Development of principles underlying financial statements and accounting procedures. Basic accounting terminology and concepts of both financial and managerial accounting. Emphasis on analyzing and understanding financial statement information.

ACC 202 Principles of Managerial Accounting 3
Development of principles used in planning, controlling and evaluating organizational decision making. Primary topics are cost behavior, costing systems, profitability analysis and budgeting. At the conclusion of this course students will be able to conduct cost-volume-profit analysis, compute break-even points, prepare budgets, conduct variance analysis, do job costing, relevant cost analysis and capital budgeting. Prerequisite: Acc 201.

ACC 210 Accounting Information Systems 3
Create an accounting system using a popular business software package. Gain understanding of internal control systems and organizational relationships with utilization of a computerized business system. Concentrates on the transaction cycles of cash receipts, cash disbursements, purchasing, sales, inventory control and management reporting. Prerequisite: Acc 201.

ACC 301 Cost Accounting 3
A study of how accounting information is used and communicated by managers to plan, control and evaluate decisions. Primary topics include cost behavior, cost-volume-profit analysis, costing systems, variance analysis, cost-allocation issues, budgeting, and pricing decisions. This course is a continuation of the principles learned in Acc 202. Case studies are used extensively in this course. Prerequisites: Acc 202, Bus 220.

ACC 302 Intermediate Accounting I 3
Development of accounting theory and practice by critically analyzing each element of the financial statement. Concentration on a conceptual approach to accounting information and reporting. Courses must be taken in sequence. Prerequisite: Acc 202.

ACC 303 Intermediate Accounting II 3
Development of accounting theory and practice by critically analyzing each element of the financial statement. Concentration on a conceptual approach to accounting information and reporting. Courses must be taken in sequence. Prerequisite: Acc 302.

ACC 304 Federal Income Tax:Individual 3
A comprehensive study of the current income tax laws as they apply to individuals and sole-proprietorships. Emphasis is placed on applying the tax laws for tax return preparation. Students are also introduced to tax research and tax planning. Students will participate in a tax preparation program for the Goshen community. Prerequisite: Acc 201.

ACC 375 Topics: 3 (1-4)
Depth study on a selected topic in accounting. Intended to accommodate student interest and/or faculty expertise in specific accounting issues. Issues may vary from year to year.

ACC 400 Selected Readings 1 (1-4)
Special topics for majors and minors.

ACC 405 Auditing 3
Study of the attest function and the responsibility of a Certified Public Accountant as an independent auditor of financial information. Prerequisite: Acc 303.

ACC 408 Accounting Internship 12 (6-12)
Work experience in professional accounting. Limited to accounting majors. Student must be approved by department faculty and accepted by a firm through an interview. Interested students should contact the supervising instructor during the junior year.

ACC 409 Accounting Internship 3 (1-3)
Work experience in, or student observation of, a business enterprise or problem. Each student's project is individually arranged with the instructor. The course is designed to integrate and apply theoretical learning with experience.

ACC 434 Federal Income Tax:Corporate 3
Study of the current tax laws applicable to C corporations, S corporations, partnerships and limited-liability companies. Students are introduced to tax research and tax planning for these business entities. Also included is an introduction to tax law related to not-for-profit organizations, trusts, estates and gift taxation. Prerequisite: Acc 304.

Business courses

BUS 121 Introduction to Entrepreneurship 3
Introduces the various activities that entrepreneurs undertake, from recognizing an opportunity to launching a business. Provides an overview of developing and testing a business concept, the components of a business plan, and planning for growth and change. Additional attention is given to the nature of entrepreneurial thinking, creativity, and the ethical environment of entrepreneurship.

BUS 140 Essential Business Skills 3
This course, designed for first year students, will introduce a variety of general business skills to benefit students in both their subsequent college courses and their future business career. Topics include business communication skills, personal productivity, working in teams, running effective meetings, problem-solving techniques, and decision-making.

BUS 215 Entrepreneurial Finance 3
Designed to introduce the basics of business finance and accounting to nonfinancial managers or students anticipating acquiring or starting a new venture. Builds understanding of key financial statement and day to day accounting and finance issues, tips for improving financial efficiency and strategies for pursuing financial growth. Credit from this course may not be counted toward an accounting or business major.

BUS 217 Personal Finance 3
Designed to introduce students to the basics of personal finance. A survey course of personal and family financial planning with an emphasis on financial recordkeeping, planning your spending, tax planning, consumer credit, making buying decisions, purchasing insurance, selecting investments and retirement and estate planning.

BUS 220 Office Software Productivity 3
Advanced skills in commonly-used office-suite software, such as spreadsheets, word processing, presentation graphics and personal databases. The focus is on using these tools in an organizational setting to improve personal and organizational productivity and effectiveness. The course currently uses the Microsoft Office 2010 Suite on personal computers.

BUS 306 Human Resource Management 3
Provides a comprehensive understanding of what effective firms in competitive environments are doing to manage their human resources as successfully as possible. Topics include the major issues facing human resource management and the various human resource activities.

BUS 310 Business Law 3
Survey of legal principles. Topics include liability, contracts, sales and negotiable instruments; also, secured transactions, agency, partnerships, corporations and antitrust.

BUS 315 Principles of Management 3
Founded on the four major managerial functions: planning, organizing, leading and controlling. The process of management is applied to the functions of a business enterprise. Other topics include motivation, problem-solving and the coordination, communication and human relations aspects of management.

BUS 316 Principles of Marketing 3
The nature of marketing in our society; how organizations develop marketing strategies that enable them to meet their objectives and the needs of their customers through adequate marketing mixes; the relationship of marketing to other management functions; marketing activities at the domestic and international levels.

BUS 317 Financial Management 3
Introduces students to the primary elements of organizational finance such as time value of money, stock and bond valuation, forecasting, working capital management, capital budgeting and structure and dividend policy. Prerequisite: Acc 202, Bus 220, Econ 203.

BUS 318 Production/Operations Management 3
Decision-making and quantitative analysis of production problems arising in areas of methods analysis, plant location, facilities design, production planning and control, inventory management, work measurement, job design, worker safety and health, materials handling and quality control.

BUS 319 Leading Nonprofit Organizations 3
An exploration of how business principles apply to leading nonprofit organizations. Course provides students with the concepts, techniques and illustrations needed for effective nonprofit organizational management. Topics covered will include management and motivation of staff, trustees and volunteers, marketing, financial management, fund raising, planning, ethics, social responsibility, partnerships and sustainability.

BUS 320 Marketing Research 3
A comprehensive overview of the nature and scope of marketing research and its role in decision support systems. Course focuses on the practical aspects of marketing research and provides a framework for conducting quantitative and qualitative research. Prerequisites: Bus 220, 316 and Econ 207.

BUS 322 Organizational Communication 3
(Cross-listed from Comm 322) An exploration of communication within organizations, as well as communication between organizations and the larger society. Topics include theories of communication and organizational structure; examination of power, culture, and conflict in organizations; and analysis of verbal and nonverbal messages in interpersonal, small-group and public settings. Assignments will assist students in developing skills in listening, analysis, speaking and writing. Prerequisite: Comm 240 or Bus 316.

BUS 328 Venture Planning 3
In this course students write business plans for an entrepreneurial venture. Areas of exploration include recognition of opportunity, pre-venture planning, start-up, strategy, negotiation and funding. Emphasis is also placed on the management of organizational growth and change. Attention is given to special concerns of small-firm management. Prerequisite: Bus 121 or consent of instructor.

BUS 332 Investments 3
In this course students will learn how to research, formulate and implement investment plans through portfolios constructed and monitored by students. Analytical frameworks and investment strategies that target objectives will be established and utilized. Also, decision making tools such as security valuation and leverage analysis models will be explored. Prerequisite: Acc 201.

BUS 334 Go To Market 3
Extends the basic understanding of the entrepreneurial or new venture process. Discussion topics include-customer needs methodologies, guerrilla marketing, distribution channels, target markets, concept scalability, competitive landscape analysis, and go-to-market strategies. Prerequisites: Bus 121.

BUS 336 Advertising 3
A managerial approach to developing advertising strategies; the use of advertising as a marketing tool; the creative process; evaluation of the effectiveness of advertising; the role of advertising in our society. Prerequisite: Bus 316 or consent of instructor.

BUS 338 Sales 3
An introduction to the dynamic world of selling. A pragmatic approach to the techniques and skills used by professional sales persons. Includes role playing and the development of a sales presentation.

BUS 350 International Business 3
International business is the field of study that focuses on business activities that cross national boundaries. It includes exports and imports - the subject of traditional international trade discussions - as well as foreign direct investment, international banking, the international transfer of technology and global business strategy. The cultural environment of international business is considered in some detail. The course presents the important activities of an international firm and a framework for analysis from a manager's perspective. Case studies are used in the course. Prerequisites: Econ 204 and Acc 201 or consent of instructor.

BUS 360 Java Junction Management 3
Gives students the opportunity to manage a real business. Java Junction, a coffee shop located in the KMY Connector, is completely student-run and student-managed. Student managers, under the supervision of a business faculty member, have full responsibility for all management and operating decisions. The management team reports regularly to an Advisory Board who serves as Java Junction's Board of Directors. Managers are selected by the business department through an application process. Entrepreneurial students and those energized by challenges are encouraged to apply. This course is repeatable.

BUS 375 Topics: 3 (1-4)
Depth study on a selected topic in business. Intended to accommodate student interest and/or faculty expertise in specific business issues. Issues may vary from year to year (example: Business in Spain).

BUS 400 Selected Readings 1 (1-4)
Special topics for majors and minors.

BUS 402 Applied Entrepreneurship 1 (1-3)
This course is available to recipients of Entrepreneurship Grants to provide time and business departmental guidance for a student to start a business. This course is repeatable.

BUS 403 Management Strategy 3
A study and evaluation of management strategies to achieve organizational goals and objectives. Utilizes management principles, financial analysis and control, personnel decisions and marketing strategies to solve case/simulation problems. Prerequisites: Bus 220, 315, 316 and 317 or consent of instructor.

BUS 405 Career Planning 1
The course will provide a framework within which to appraise career options, set goals and implement a plan to reach goals. Topics include self-appraisal, resumes, developing a job-search strategy, interviewing for jobs, choosing the first job and graduate-school opportunities. This course is available to students from all majors.

BUS 409 Internship in Business 3 (1-3)
Work experience in, or student observation of, a business enterprise or problem. Each student's project is individually arranged with the instructor. The course is designed to integrate and apply theoretical learning with experience. Students desiring an internship in business must be a major in the business department and must have completed at least 40 hours of major requirements. This course is repeatable. Prerequisite: Bus 405.

BUS 410 Business Capstone 3
A broad examination of the responsibilities of business to society and social expectations of business. Topics include: business and its environment; corporate social responsibility; the manager and personal ethics; government regulation of business. Intended as the capstone senior seminar. Prerequisite: Senior standing in department or consent of instructor.

Economics courses

ECON 203 Principles of Microeconomics 3
A general survey of economic relationships and processes in modern society. Analyzes market and price behavior under competitive and monopolistic conditions and reviews the economic activities of government, with emphasis on spending and taxing patterns.

ECON 204 Principles of Macroeconomics 3
A general survey of economic relationships and processes in modern society. Focuses on macroeconomic topics: national-income accounting, aggregate-income determination, money and banking and international trade. Prerequisite: Econ 203.

ECON 207 Business Research and Statistics 3
Collection, presentation and analysis of numerical data. Descriptive measures; index numbers; probability, sampling, estimation and hypothesis testing; linear regression and correlation. Prerequisite: Math 141.

ECON 209 Environmental Economics 3
In this course we consider how economic activity affects the environment and how environmental destruction can, in turn, harm the economy. We apply the concepts of externalities, public goods and open-access resources to topics such as air pollution, climate change and green business practices.

ECON 306 International Economics 3
Factors in international economic relations; international trade theory; balance of international payments; foreign exchange; commercial policy of the United States and other countries; foreign investment and economic development; international economic cooperation. Prerequisite: Econ 204 or consent of instructor.

ECON 308 Intro to Economic Development 3
Provides a general overview of the development field and surveys major issues from a range of viewpoints. Topics include trade and financial problems faced by developing countries, evaluation of various models of development and application of economic techniques to development problems. Prerequisites: Econ 204 or consent of instructor.

ECON 310 Economics of War and Peace 3
National defense spending is the largest category in the discretionary portion of the federal budget, larger than all the other categories combined. This course examines the benefits and costs of this commitment of public funds. Topics include the armament industry, national security, government financing, terrorism and peace-making.

ECON 312 Natural Resource Economics 3
In this course we examine how businesses utilize the earth's resources to provide goods and services. We assess whether natural resources are being used efficiently and sustainably, discussing policies and practices to correct market failures. Topics include fossil fuels, renewable energy and sustainable management of forests and fisheries. Prerequisite: Econ 203

ECON 314 Ecological Economics 3
The emerging field of ecological economics balances the goal of economic efficiency against those of ecological sustainability and social justice. In this course we explore the "triple-bottom-line" (sustainable scale, just distribution and efficient allocation), applying these principles to business, government and individual decision-making. Prerequisite: Econ 203 or 209

ECON 375 Topics 3 (1-4)
Depth study on a selected topic in economics. Intended to accommodate student interest and/or faculty expertise in specific business issues. Issues may vary from year to year.

ECON 400 Selected Readings 1
Special topics for majors and minors.