The Business Administration program provides an academic environment which prepares students for graduate school and for professional roles in a global economic system. It provides a broad background in basic business principles and is supported by a strong liberal arts education. Emphasis is placed on helping the student understand (1) the operation of a business enterprise; (2) the economic and legal environments in which businesses operate; (3) the importance of the business management profession and its responsibilities and (4) essential problem solving or critical thinking abilities. The program incorporates extensive experiential learning opportunities for students including setting up and running a small business and mentoring local businesses. Furthermore, the program offers e-business and e-commerce applications.
To be effective in a managerial role, one must be prepared to handle demanding and changing situations. The student who majors in Business Administration has opportunities to develop the administrative skills and the background knowledge necessary for dealing with these situations. Business majors develop strengths in oral and written communications, and quantitative decision-making skills.
During the freshman and sophomore years, the student concentrates in the liberal arts and receives an introduction to the basic functions and tools of business. In the junior and senior years, the student has flexibility in determining the area of professional concentration that will meet particular academic and career plans.
Students are urged to get involved in student organizations and clubs such as the Students in Free Enterprise (SIFE). Such award-winning organizations enhance the students’ understanding of theoretical concepts, provide a service to the community, and help build their resume. The globalization of the U.S. enterprise system necessitates exposure to other cultures, languages and customs, and a better understanding of political and historical events. Business students are urged to take courses in languages, political science, and history, and to prepare for graduate school.
The five emphasis areas (Management, Marketing, Financial Management, Decision Support and Sports Management) offer the business student an opportunity to emphasize an area of special interest and prepare for a specialized business career. The recommended off-campus internship gives students a real work experience prior to completion of their bachelor’s degree requirements.
The Experiential Component (requirement of the major) can be met by successfully completing any one of the following courses:
- ACC 290,390,490 Accounting Practicum
- BUS 190,290,390 Free Enterprise Strategies and Implementation
- BUS 291,391,491 Business Practicum
- BUS 395 Directed Study (this may include presenting a paper at an undergraduate conference)
- BUS 492, 493 Global Competitiveness Practicum
- BUS 499 Internship
Liberal Arts Core and Degree Specific Requirements
- ACC 201-202 Principles of Accounting I & II 6
- ECO 201-202 Principles of Macro- and Microeconomics 6
- MTH 103 Concepts in Pre-Calculus 3
- MTH 206 Introduction to Statistics with Business Applications 3
Students are strongly urged to explore career opportunities and to establish mentors through an internship. A minimum of 2.00 grade-point average is a prerequisite for the internship.
I. Common Required Courses (24 hours)
- BUS 230 Computer Applications 3
- BUS 303 Principles of Management 3
- BUS 308 Business Communications 3
- BUS 311 Marketing 3
- BUS 313 Business Finance 3
- BUS 315 Business Law 3
- BUS 330 Quantitative Methods 3
- BUS 498 Senior Seminar: Business Policy 3
II. Emphasis Areas (12 hours)
A. Decision Support Systems
The Decision Support Systems emphasis area focuses on the use of contemporary techniques to assist managers in decision-making and problem solving. It is designed for students who are interested in the use of computers to aid in the analysis and evaluation of a variety of business situations. The curriculum prepares majors to use and manage computer-based information systems.
- BUS 318 Introduction to Electronic Commerce 3
- BUS 325 Advanced Computer Applications 3
- BUS 331 Production/Operation Management 3
- BUS 430 Management Information Systems 3
B. Financial Management
Financial Management involves the efficient acquisition and use of funds. Every organization, whether it is a large corporation or a small business, must be concerned with financial management. There are a number of job opportunities for financial planners, budgeting officers, analysts, and decision-makers. The financial management program prepares graduates for financially-oriented positions in business or in management of financial institutions such as banks, insurance companies, and brokerage houses.
- BUS 314 Advanced Corporate Finance 3
- BUS 418 Investments 3
- ECO 313 Money and Banking 3
- ECO 400 International Finance 3
Management involves achieving results by the combination and use of all available resources in an organization. Because this task is complex, all managers must possess technical and conceptual skills as well as interpersonal and communications skills. Ferrum’s program is designed to help students develop these skills. It is an appropriate program for those students planning to enter general management and for those whose career goal is to own their own businesses.
- ACC 301 Managerial Accounting 3
- BUS 320 Entrepreneurship 3
- BUS 331 Production/Operation Management 3
- BUS 403 Human Resources Management 3
Marketing is the link between the organization and the consumer and involves planning and execution of the conception, pricing, promotion, and distribution of products. Ferrum’s marketing program gives students a basic understanding of marketing and its role in society and business. It prepares students for such fields as advertising, sales, marketing research, retail sales management, and internet-based careers.
- BUS 304 Advertising 3
- BUS 305 Sales Management 3
- BUS 316 Retail Management 3
- BUS 410 Marketing Research 3
E. Sports Management
The growth of sports as a major industry has increased the need and opportunity for well-trained professional managers. A well rounded business education which includes Finance, Accounting, Management, Marketing and Quantitative Skills with a focus on sport management skills is essential in this rapidly growing field. Sport Management majors can expect to find careers in professional sports, sports and fitness clubs, golf clubs, ski areas, education, the media, athlete representation, nonprofit recreation for such organizations as the YMCA, Boy and Girls Clubs, community programs, intercollegiate athletics and in the consumer segment.
- REC 450 Special Events Planning and Management 3
- HHP 402 Organization and Administration of Sports 3
- BUS 250 Introduction to Business and Economics of Sports 3
- BUS 403 Human Resource Management 3
It is recommended that the student choosing the Sports Management Emphasis obtain a license in First Aid Response.
Students using Sports Management as their emphasis are encouraged to take REC 350, Risk Management as one of their approved electives.
III. Approved Electives (12 hours)
Students choose 12 credits from Accounting, Business, Economics, or other disciplines. At least 9 credits must be at the 300-400 level. Students may choose to select these approved electives in such a way as to complete additional emphasis areas in business administration or to work toward a minor in another discipline.
Total Hours in Major 48