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BUS 301
Theory of Organization and Management
Introduction to the theory and practice
of management; includes the
basic managerial functions: planning,
organizing, leading and controlling.
Communication, motivation and decision-making
techniques are stressed.
Also covered are organization structure
and design, the dynamics of
individual and group interaction,
organization climate, managerial
styles, the implication of increasing
work force diversity, coping with conflict,
and methods for achieving organizational
improvement. Issues in
international business are dealt with
at relevant points. Formerly MGT
351. (3-0-3) (C) (E)
BUS 305
Operations Management
Operational problems studied from a
systems viewpoint. Development and
application of policies, techniques,
and models for making decisions in
the areas of product and service
design, design of operating systems,
production and control of the product
or service. Formerly OM 312. (3-0-3)
BUS 311
Strategic Cost Management
Explores the uses and limitations of
accounting information as an integral
part of a manager’s decision
process. BUS 311 goes beyond BUS
211 and 212 by integrating economics,
finance, and statistics among
other disciplines in the consideration
of actual business cases. Some of the
topics included will be cost estimation,
activity based costing, quality
control, transfer pricing, and divisional
performance evaluation.
Prerequisites: BUS 212 and BUS
221. Corequisite: BUS 351. (3-0-3)
BUS 321
Management Science
Introduction to the use of mathematical
models in the solution of business
problems. Linear programming,
Network analysis and simulation,
Analysis of waiting lines. (3-0-3)
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BUS 341
Introduction to Business Law
Legal implications of business transactions
are studied. Specific topics
include: the nature of law and its
place in society, especially in relation
to business; contracts and property
law studied by the case method; formation
and operation of contracts;
their significance to the economic
order. (3-0-3) (C) (E)
BUS 351
Financial Management and Decision Making
Provides an introduction to financial
management principles that are useful
for individuals as well as firms.
The three major areas covered are:
capital budgeting; capital structure;
and the management of working capital.
Time will be spent on understanding
discounted cash flow methods,
valuing debt and equity securities, the
capital asset pricing model, risk and
return tradeoffs, equity versus debt
tradeoffs, and derivative securities.
Corequisite: BUS 212. (3-0-3)
BUS 361
Introduction to Entrepreneurship
The course will examine how social,
psychological and economic factors
influence and shape entrepreneurship
and new venture formation.
Students will explore the impact of
entrepreneurship and new venture
formation on society. This includes
an investigation into the contributions
that entrepreneurs make to
both social and economic systems.
Insights into what it is like to work
in an entrepreneurial organization
including the dynamics and challenges
associated with new venture
formation and start-up are investigated.
The characteristics and attributes
of successful entrepreneurial
companies will be discussed. This
includes comparing and contrasting
the similarities and differences
between entrepreneurial led small
and medium enterprises (SMEs)
closely held and family businesses,
and public corporations. Formerly
MGT 360. (3-0-3) (C) (E)
IIT Undergraduate Bulletin 2006–2008
Course Descriptions
BUS 362
Entrepreneurship and New Venture Formation
This course is a first introduction to
fundamentals of technology entrepreneurship.
It will explore the factors
that influence entrepreneurial activity
as well as the effects of entrepreneurship
on society. Technology
entrepreneurship involves identifying
high potential technologyintensive
commercial opportunities, gathering
resources and capital, and
managing rapid growth and significant
risks using principled decisionmaking
skills. The course introduces
students to the skills necessary to
successfully identify a true business
opportunity, and to start, grow, and
maintain a technology based enterprise.
This course is designed for all
majors except for business, particularly
science, engineering, and architecture
students. (3-0-3)
BUS 363
Creativity and Inventions for Entrepreneurs
Students learn to brainstorm for
patentable, feasible ideas and then
put them through the initial development
stages, including: project
workup, patent searches, prototyping,
market research, design interaction,
and financial projections. The course
involves frequent presentations and
reports, including: first prototype,
second prototype, project proposal,
patent description and claims and
business plans. (3-0-3) (C) (E)
BUS 371
Introduction to Marketing
Introduction to the activities and
decisions faced by marketing managers
in modern organizations.
Topics include: consumer and organizational
buying behavior, marketing
research, market segmentation, new
product development, product line
decisions, pricing channels, distribution,
promotion, international marketing
and introduction to marketing
strategic planning. Formerly MKT
371. (3-0-3) (C) (E)
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