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Business Administration
Business Administration
The business administration major offers you a special combination of pre-professional preparation and a firm foundation in the liberal arts. Both are essential to success in today’s increasingly global and diverse business environment. Interdisciplinary in nature, the major includes courses in accounting, business ethics, business law, business statistics, computer applications, economics, finance, management, marketing, and mathematics. The curriculum is designed to make the links between the liberal arts and the world of business explicit. In upper-level courses, the emphasis is on case studies and analytical thinking.
All students are encouraged to complete at least one internship in the major, either during January Term or during the regular semester. Internships are not required for the major, but they offer you an opportunity to apply course concepts in a business setting.
The business administration major offers concentrations in the following areas: accounting, business entrepreneurship, economics, finance, healthcare management, marketing, international trade, and sport management.
A minor in business administration is also offered.
Program Faculty
Overview
Your Programs
Along with an individualized approach to learning, Salem’s Business Administration Program is widely respected for its practical orientation, emphasis on leadership, and caring teachers who bring decades of professional experience in senior executive levels of business management to the program.
Your Commitment
You belong in the Business Administration Program if you are committed to hard work, aren’t afraid to take risks, and understand that, above all, it’s about results. You will be highly motivated and usually go above and beyond what’s simply required to complete an assignment or course. You’ll be encouraged to fulfill an internship as well as complete a research project before you graduate. You’ll also explore learning opportunities and experiential education programs that may take you to Europe, Asia, or South America.
Your Faculty
Professors in the department bring a combined 150 years of high-level experience in the academic and business world to the program. Their professional savvy is matched only by their ability and passion for teaching young women like you in a professionally-oriented program. They take a highly personal approach to teaching, and as a result are able to readily address your individual needs.
Your Experience
When you graduate with a degree in business administration, you’ll be equipped with the broad-based knowledge that comes from a liberal arts program as well as with specific business skills and experiences. As a result, you will have many options for how you use your degree. You may:
Work for a corporation, the government, or a not-for-profit institution
Start your own business
Enter one of the many fine management training programs and graduate schools in the country that have accepted Salem students
Major/Minor
Business Administration Major (BA or BSBA)
The business administration major offers students a special combination of pre-professional preparation and a firm foundation in the liberal arts. Both are essential to success in today’s increasingly global and diverse business environment. Interdisciplinary in nature, the major includes courses in accounting, business ethics, business law, business statistics, computer applications, economics, finance, management, marketing and mathematics. The curriculum is designed to make the links between the liberal arts and the world of business explicit. In upper-level courses, the emphasis is on case studies and analytical thinking.
Because of the number of courses required, the student choosing to major in business administration is strongly advised to begin the major during her first or sophomore year by taking the introductory sequence in accounting, principles of economics, required mathematics courses and perhaps a business administration course. Several courses required for the major will also satisfy general education requirements. Students are encouraged to pursue these in order to increase their upper-level elective options. All students are encouraged to complete at least one internship in the major, either in January or during the regular semester. Internships are not required for the major, but they offer the student an opportunity to apply course concepts in a business setting. The business administration major offers concentrations in the following areas: accounting, business entrepreneurship, economics, finance, health care management, marketing, international trade, and sport management.
The major in business administration requires the same courses whether the student is pursuing the BA degree or the BSBA degree. Students enrolled in the College through the Martha H. Fleer Center for Adult Education who are seeking the BSBA degree with a major in business administration have slightly different general education requirements than students seeking the BA degree major do, but the courses for the major are the same for both. The business administration major is required to take thirteen core courses for a minimum of fourty-four semester hours and three courses in a selected area of concentration (accounting, business entrepreneurship, economics, finance, health care management, international trade, marketing, or sport management) for a minimum of nine semester hours. Some of these courses may also be used to fulfill certain general education requirements. At least seven of the required core courses, including BUAD 350 (Senior Seminar in Strategic Management), must be taken at Salem. In addition, at least two of the three required courses in the area of concentration must be completed at Salem.
A student intending to major in business administration should meet with her advisor early and regularly to discuss a suggested program of study in order to remain on track for graduation within four years.
No more than three courses, regardless of semester hours, may be counted toward both a student’s major and a minor.
Required core courses for the business administration major:
- ACCT 120. Principles of Financial Accounting (3 hrs)
- ACCT 130. Principles of Managerial Accounting (3 hrs)
- BUAD 111. Management Information Systems (3 hrs)
- BUAD 124/PHIL 124. Business Ethics (3 hrs)
- BUAD 201. Principles of Management (3 hrs)
- BUAD 220. Business Law (3 hrs)
- BUAD 240. Business Statistics (4 hrs)
- BUAD 350. Senior Seminar in Strategic Management(4 hrs)
- MATH 070. Essential Calculus (4 hrs) or MATH 100. Calculus I (5 hrs)
- ECON 100. Principles of Economics (4 hrs)
- ECON 260. International Trade and Business (3 hrs)
- FINC 302. Corporate Finance (4 hrs)
- MKTG 230. Principles of Marketing (3 hrs)
Three additional courses must be taken from one of the following areas of concentration:
Accounting
- ACCT 140. Intermediate Accounting I (3 hrs)
- ACCT 150. Intermediate Accounting II (3 hrs)
One of the following:
- ACCT 160. Cost Accounting (3 hrs)
- ACCT 301. Auditing (3 hrs)
- ACCT 303. Income Taxation (3 hrs)
Business Entrepreneurship
- ENTR 120. Foundations of Entrepreneurship (3 hrs)
- ENTR 310. Entrepreneurship: Managing Technology and Innovation (3 hrs)
- ENTR 320. Entrepreneurship and Business Plans (3 hrs)
Economics
- ECON 210. Intermediate Macroeconomics (3 hrs)
- ECON 220. Intermediate Microeconomics (3 hrs)
- One ECON elective (other than ECON 260) (3-4 hrs)
Finance
- ECON 201. Money, Banking and Monetary Policy (3 hrs)
- FINC 303. Investment Analysis (3 hrs)
- FINC 310. International Finance (3 hrs)
Health Care Management
- BUAD 205. Health Care Organization and Management (3 hrs)
- BUAD 305. Health Care Economics and Finance (3 hrs)
- BUAD 306. Health Care Policy and Strategy (3 hrs)
International Trade
- MKTG 234. International Marketing (3 hrs)
- FINC 310. International Finance (3 hrs)
One of the following:
- POLI 110. International Relations (3 hrs)
- ECON 210. Intermediate Macroeconomics (3 hrs)
Marketing
- MKTG 231. Marketing Research Methods (4 hrs)
- MKTG 234. International Marketing (3 hrs)
- MKTG 235. Service Marketing (4 hrs)
Sport Management
- BUAD 202. Sport Management (3 hrs)
- EXER 245. Women in Sport (3 hrs)
- MKTG 236. Sport Marketing (3 hrs)
No more than three courses, regardless of semester hours, may be counted toward both a student’s major and a minor.
Business Administration Minor
Required courses:
- ACCT 120. Principles of Financial Accounting (3 hrs)
- BUAD 111. Management Information Systems(3 hrs)
- BUAD 201. Principles of Management (3 hrs)
- ECON 100. Principles of Economics (4 hrs)
- FINC 302. Corporate Finance (4 hrs)
- MKTG 230. Principles of Marketing (3 hrs)
A minimum of three courses must be taken at Salem.
No more than three courses, regardless of semester hours, may be counted toward both a student’s major and a minor.
Business Entrepreneurship Minor
This minor is not available to students who are taking a business entrepreneurship concentration in the business administration major.
Required courses:
- BUAD 201. Principles of Management (3 hrs)
- ECON 100. Principles of Econ (4 hrs) or ACCT 120. Principles of Financial Acct (3 hrs)
- ENTR 120. Foundations of Entrepreneurship (3 hrs)
- ENTR 310. Entrepreneurship: Managing Technology and Innovation (3 hrs)
- ENTR 320. Entrepreneurship and Business Plans (3 hrs)
- MKTG 230. Principles of Marketing (3 hrs)
A minimum of three courses must be taken at Salem.
No more than three courses, regardless of semester hours, may be counted toward both a student’s major and a minor.
Marketing Minor
This minor is not available to those students who are taking a marketing concentration in the business administration major.
Required courses:
- BUAD 201. Principles of Management (3 hrs)
- MKTG 230. Principles of Marketing (3 hrs)
- MKTG 231. Marketing Research Methods (4 hrs)
- MKTG 234. International Marketing (3 hrs)
- MKTG 235. Service Marketing (4 hrs)
Select one of the following:
- COMM 322. Communication Campaigns (3 hrs)
- MKTG 270. Internship in Marketing (3 hrs min.)*
*MKTG 270 must be taken under the supervision of a Salem faculty member who is currently teaching marketing courses.
At least three of the six courses must be taken at Salem.
No more than three courses, regardless of semester hours, may be counted toward both a student’s major and a minor.
Sport Management Minor
The minor is not available to those students taking a sport management concentration in the business administration major.
Required courses:
- BUAD 202. Sport Management (3 hrs)
- BUAD 240. Business Statistics (3 hrs)
- BUAD 270. Internship in Management (3 hrs min.)*
- EXER 245. Women in Sport (3 hrs)
- MKTG 236. Sport Marketing (3 hrs)
Select one of the following:
- BUAD 124/PHIL 124. Business Ethics (3 hrs)
- BUAD 220. Business Law (3 hrs)
*BUAD 270 must be taken under the supervision of a Salem College faculty member and focused on sport management.
At least three of the six courses must be taken at Salem College.
Courses
All business administration courses require a minimum of first-year standing or permission of the instructor in addition to any other prerequisites noted.
BUAD 111. Management Information Systems (3 hrs)
This course provides an introduction to the fundamentals of Information Systems (IS) in organizations. The course examines the role of computers, databases, networking, and application software in managing the business organization and examines their integration with other functions such as accounting, production, marketing, and finance. The fundamentals of business process modeling are explored using process flow diagrams. Basic spreadsheet and database management tools are presented to understand methods for organization, manipulation, and retrieval of data. The ethical, strategic, and global aspects of Information Systems are explored.
BUAD 124. Business Ethics (3 hrs)
This course examines some of the various ways in which ethics is relevant to business by analyzing the ethical elements in problems that arise in the business world. Emphasis is placed upon the application of general ethical theories to such problems. Cross-listed with PHIL 124. (HM)
BUAD 200. Independent Study in Management (1-4 hrs)
Independent study under the guidance of a faculty advisor. Independent study may take the form of readings, research, conferences, and projects. It may not be used to substitute for regular courses in the curriculum. Independent study may be taken for a total of twelve semester hours, but usually not more than six semester hours per term. Prerequisites: 2.0 cumulative average, previous study in management, permission of the department.
BUAD 201. Principles of Management (3 hrs)
An analysis of the historical concepts and environments that play a major part in the changing concepts of management from the Industrial Revolution to today’s globalization. Specific attention is devoted to the management functions – planning, organizing, leading, and controlling – within the context of topics such as planning and goal setting, globalization, human resources, business ethics, motivation, leadership, teamwork, decision-making, communications, diversity, and information technology.
BUAD 202. Sport Management (3 hrs)
This course examines the application of general principles of management to the sport industry and to the management of sport organizations in particular. The course provides the student with an overview of the sport industry, as well as the issues encountered by managers of sport organizations and how management techniques can be applied to effectively address these issues. Students will also consider the ethical and moral dilemmas facing sport managers and the sport industry as a whole. Provides an overview of management in the professional sport franchise; intercollegiate athletics, sport marketing, and promotions; athlete representation; sport law; facilities management; the health club, spa, resort industry; and sport tourism.
BUAD 205. Health Care Organization and Management (3 hrs)
An introduction to the US health care system, both the public and private sector. Examines the basic determinants and measurement of health, wellness, and disease; the structure of the health system; current topics in health care reform, the policy process, and advocacy for public health. Examines the principles of organization, management, and marketing as applied to the production and delivery of health care services. Prerequisite: BUAD 201.
BUAD 220. Business Law (3 hrs)
The American legal system and the law as it relates to the conduct of business in our society. A survey of our federal and state court systems and an examination of the constitutional foundations of the American judicial structure. Specific attention to torts, contracts, property, and other legal concepts integrally related to commercial enterprise.
BUAD 240. Business Statistics (4 hrs)
Emphasis on sampling and probability distributions, measures of central tendency and dispersion, hypothesis testing, linear and multiple regression analysis, and analysis of variance. Students will use a software program for statistical analyses. Prerequisite: a college-level math course or permission of instructor. (QI)
BUAD 260. Special Topics in Management (1-4 hrs)
An intense examination of a specialized topic in contemporary management. A research paper and oral presentation will be required. Possible topics for this course include, but are not limited to, small business management, personnel management, production and operations management, retail management, and leadership.
BUAD 270. Internship in Management (1-4 hrs)
An opportunity to use the knowledge and skills the student has learned in coursework to solve problems in a real work setting. The apprenticeship aspect of the internship implies that the student has some base of knowledge and will increase her knowledge and skills by direct contact with an experienced, knowledgeable mentor. Open to sophomores, juniors, and seniors with a 2.0 cumulative average; maximum credit per term is four semester hours; admission by application only.
BUAD 290. Honors Independent Study in Management (3-4 hrs)
Advanced independent study under the guidance of a faculty advisor. Normally open to juniors and seniors with a 3.5 average in business administration, subject to the approval of the department chair. Honors work may be taken for a maximum of eight semester hours.
BUAD 305. Health Care Economics and Finance (3 hrs)
Applies micro- and macroeconomic concepts to health care processes and markets. Topics of discussion include the costs of health care, the markets for health care, and economic tools to improve systemic health care outcomes. Introduces the fundamental principles guiding financial decision-making as they apply to the management of health care organizations. Prerequisite: ECON 100.
BUAD 306. Health Care Policy and Strategy (3 hrs)
Examines the formulation and implementation of health policy in the US and other countries. Emphasis is on the application of analytical contributions from health economics, health services research, and other policy-related disciplines to current issues in health care delivery, organization, and financing in a global setting. Explores the implications for strategies of health care organizations. Prerequisites: BUAD 205 and 305.
BUAD 325. Oxford Summer Program (3 hrs)
Salem College, St. Peter’s College of Oxford University Summer Program in International Business. The program will be taught by St. Peter’s college faculty and other distinguished lecturers on the campus of St. Peter’s College, Oxford, England, and is comprised of three week-long integrated modules: Globalization and the World Economy; Development of Global Companies; and Business Culture, Ethics, and Gender Issues. The course to be taught in the summer will include approximately eighty contact hours. Students are also expected to complete case studies, do independent research, and attend joint interdisciplinary seminars. Formal evaluation of student academic performance is to be provided by on-site Salem College faculty at St. Peter’s College.
BUAD 350. Senior Seminar in Strategic Management (4 hrs)
A capstone course with a heavy emphasis on case studies in strategy formulation and implementation. Students will utilize conceptual tools learned in principles of management, corporate finance, marketing, economics, and accounting. Part of the course will include a semester-long analysis of publicly traded corporations. Prerequisites: permission of instructor, graduating senior status, BUAD 201 and 240, FINC 302, MKTG 230 and ACCT 120.
BUAD 390. Senior Seminar in International Business (2 hrs)
Intensive study of selected topics in international business with an emphasis on current research. Students will be required to complete and present a major research paper. Required of all senior majors.
Marketing
Courses in marketing are offered as part of the Business Administration Program. Although there is no major in marketing, it may be chosen as either a minor or a concentration area within the business administration major.
Marketing Courses (MKTG)
MKTG 230. Principles of Marketing (3 hrs)
An introduction to the understandings of marketing and the marketing management process. Includes analyzing marketing opportunities and segmenting, targeting, and positioning for competitive advantage. Specific attention will be given to the development of marketing strategy and the marketing mix of product, price, place, and promotion.
MKTG 231. Marketing Research Methods (4 hrs)
An in-depth study of the marketing research process. Attention is given to the scope of marketing research, the research process, research designs, measurement concepts, sampling, including basic statistical concepts, data analysis and interpretation, and the use of marketing research. Students will do a marketing research problem, using SPSS for statistical analysis. Prerequisites: MKTG 230 and BUAD 240 (may be co-requisite); or permission from the instructor. (QI)
MKTG 234. International Marketing (3 hrs)
A study of the problems and opportunities in marketing products and services overseas. This includes an analysis of economic, political, cultural, and financial environments, as well as the global concerns of pricing, promotional and distribution strategies. Prerequisite: MKTG 230.
MKTG 235. Service Marketing (4 hrs)
An in-depth study of the marketing of services in the business world. Specifically, the course will cover the underlying process of service delivery, the way that technologies are affecting this delivery, and the concept of creating value through service marketing with human resource management. Prerequisite: MKTG 230.
MKTG 236. Sport Marketing (3 hrs)
The applications of marketing science to all realms of the sport industry, including: professional sport; intercollegiate, interscholastic, and amateur sport; and commercial and public sport and recreational facilities, clubs, resorts, and service organizations. An introduction to sales as an element of marketing. A view of the international sport business and ethical issues in sport marketing. Prerequisite: BUAD 202.
MKTG 270. Internship in Marketing (1-4 hrs)
An opportunity to use knowledge and skills the student has learned in coursework to assess and solve problems in the real work setting. The apprenticeship aspect of the internship implies that the student has some base of marketing knowledge and will increase her knowledge of skills by direct contact with an experienced supervisor in a marketing environment. This course is open to Juniors and Seniors with a 2.0 cumulative G.P.A. Faculty sponsor must be a full-time Salem faculty member who is currently teaching marketing courses. Admission is by application only. Maximum of four semester hours may be taken per term.
Finance
Courses in finance are offered as part of the Business Administration Program. Although there is no major or minor in finance, finance may be chosen as a concentration area within the business administration major.
Finance Courses (FINC)
FINC 101. Personal Finance (3 hrs)
This course is designed to bring students who have little knowledge of personal finance to the point at which they are knowledgeable consumers in the areas of money management, credit management, tax planning, investment management, housing, insurance planning, retirement and estate planning.
FINC 302. Corporate Finance (4 hrs)
A course of study concerned primarily with the management of capital sources and uses and factors influencing the financial structure, capital budgeting administration, and analysis methods. Prerequisites: MATH 070 or MATH 100; ACCT 120.
FINC 303. Investment Analysis (3 hrs)
The study of domestic and global portfolio management, investment alternatives, investment markets, expected return and risk evaluation, investment mix selection, and optimizing behavior of the individual investor.
FINC 310. International Finance (3 hrs)
The purpose of this course is to focus on value-maximization and risk management in firms with emphasis on multinational corporations. Concepts from finance are used to analyze capital budgeting, the cost hedging, international cash management, the debt denomination decisions, and international capital budgeting. Emphasis is on applying economic and financial theory to management decisions through a series of quantitative assignments and case studies. Prerequisite: FINC 302.
Business Entrepreneurship
Courses in business entrepreneurship are offered as part of the Business Administration Program. Although there is no major in business entrepreneurship, it may be chosen as either a minor or a concentration area within the business administration major.
Business Entrepreneurship Courses (ENTR)
ENTR 120. Foundations of Entrepreneurship (3 hrs)
This course introduces students to entrepreneurship concepts, topics, and terminology. Specifically, the course addresses the core concepts of entrepreneurship, its role in our economy, and its potential impact on career opportunities. Students will develop an understanding of the entrepreneurial thought process and skills of entrepreneurs as they learn about opportunity recognition; industry, competitor, and management styles; market analysis; financial issues; and planning and structuring an entrepreneurial venture.
ENTR 310. Entrepreneurship: Managing Technology and Innovation (3 hrs)
Examines the role of new technology and innovation in changing the performance capabilities of businesses, not-for-profits, and government organizations. Topics include the processes of innovation; research and development and imitation strategies; patents and intellectual property; the role of technology in competitive strategy; evaluation and implementation of new technology; regulation, public policy, and ethical issues; international technology transfer; and new technology business ventures. Explores case studies in a variety of industry, technical, and global contexts. Prerequisites: ECON 100 or ACCT 120.
ENTR 320. Entrepreneurship and Business Plans (3 hrs)
An in-depth study of the elements that serve as a catalyst to being a successful entrepreneur. These include a knowledge of the preparation and analysis of financial statements, sources of venture ideas, conducting market research, addressing the human side of being an entrepreneur, and finally the development of a realistic business plan that could be submitted to a venture capitalist or for bank financing. Prerequisites: ENTR 120 and 310; ECON 100 or 120; ACCT 120 or departmental assessment of proficiency in foundations of accounting; MKTG 230; and BUAD 201; or permission of instructor.
I could not imagine being successful in my field without the real application scenarios that I was exposed to from Dr. Rapp’s Market Research Methods course. The experience of conducting my own study from start to finish really set me apart in the job interview process. I had applicable experience to compare to the position and overall company that I was applying for. That experience has aided me in understanding the overall process structure of Hanover’s business model. No matter how far away we may go, Salem never stops being home.
Fareena Bacchus
Class Year: 2015
Major: Communication, minor in marketing
Hometown: Arlington, VA
Career: A primary research associate at Hanover Research, a market research firm that ranks as the second fastest-growing firm by the American Marketing Association. I conduct in-depth interviews with professional experts in their field for various research studies.
Your Programs
Along with an individualized approach to learning, Salem’s Business Administration Program is widely respected for its practical orientation, emphasis on leadership, and caring teachers who bring decades of professional experience in senior executive levels of business management to the program.
Your Commitment
You belong in the Business Administration Program if you are committed to hard work, aren’t afraid to take risks, and understand that, above all, it’s about results. You will be highly motivated and usually go above and beyond what’s simply required to complete an assignment or course. You’ll be encouraged to fulfill an internship as well as complete a research project before you graduate. You’ll also explore learning opportunities and experiential education programs that may take you to Europe, Asia, or South America.
Your Faculty
Professors in the department bring a combined 150 years of high-level experience in the academic and business world to the program. Their professional savvy is matched only by their ability and passion for teaching young women like you in a professionally-oriented program. They take a highly personal approach to teaching, and as a result are able to readily address your individual needs.
Your Experience
When you graduate with a degree in business administration, you’ll be equipped with the broad-based knowledge that comes from a liberal arts program as well as with specific business skills and experiences. As a result, you will have many options for how you use your degree. You may:
Work for a corporation, the government, or a not-for-profit institution
Start your own business
Enter one of the many fine management training programs and graduate schools in the country that have accepted Salem students
Business Administration Major (BA or BSBA)
The business administration major offers students a special combination of pre-professional preparation and a firm foundation in the liberal arts. Both are essential to success in today’s increasingly global and diverse business environment. Interdisciplinary in nature, the major includes courses in accounting, business ethics, business law, business statistics, computer applications, economics, finance, management, marketing and mathematics. The curriculum is designed to make the links between the liberal arts and the world of business explicit. In upper-level courses, the emphasis is on case studies and analytical thinking.
Because of the number of courses required, the student choosing to major in business administration is strongly advised to begin the major during her first or sophomore year by taking the introductory sequence in accounting, principles of economics, required mathematics courses and perhaps a business administration course. Several courses required for the major will also satisfy general education requirements. Students are encouraged to pursue these in order to increase their upper-level elective options. All students are encouraged to complete at least one internship in the major, either in January or during the regular semester. Internships are not required for the major, but they offer the student an opportunity to apply course concepts in a business setting. The business administration major offers concentrations in the following areas: accounting, business entrepreneurship, economics, finance, health care management, marketing, international trade, and sport management.
The major in business administration requires the same courses whether the student is pursuing the BA degree or the BSBA degree. Students enrolled in the College through the Martha H. Fleer Center for Adult Education who are seeking the BSBA degree with a major in business administration have slightly different general education requirements than students seeking the BA degree major do, but the courses for the major are the same for both. The business administration major is required to take thirteen core courses for a minimum of fourty-four semester hours and three courses in a selected area of concentration (accounting, business entrepreneurship, economics, finance, health care management, international trade, marketing, or sport management) for a minimum of nine semester hours. Some of these courses may also be used to fulfill certain general education requirements. At least seven of the required core courses, including BUAD 350 (Senior Seminar in Strategic Management), must be taken at Salem. In addition, at least two of the three required courses in the area of concentration must be completed at Salem.
A student intending to major in business administration should meet with her advisor early and regularly to discuss a suggested program of study in order to remain on track for graduation within four years.
No more than three courses, regardless of semester hours, may be counted toward both a student’s major and a minor.
Required core courses for the business administration major:
- ACCT 120. Principles of Financial Accounting (3 hrs)
- ACCT 130. Principles of Managerial Accounting (3 hrs)
- BUAD 111. Management Information Systems (3 hrs)
- BUAD 124/PHIL 124. Business Ethics (3 hrs)
- BUAD 201. Principles of Management (3 hrs)
- BUAD 220. Business Law (3 hrs)
- BUAD 240. Business Statistics (4 hrs)
- BUAD 350. Senior Seminar in Strategic Management(4 hrs)
- MATH 070. Essential Calculus (4 hrs) or MATH 100. Calculus I (5 hrs)
- ECON 100. Principles of Economics (4 hrs)
- ECON 260. International Trade and Business (3 hrs)
- FINC 302. Corporate Finance (4 hrs)
- MKTG 230. Principles of Marketing (3 hrs)
Three additional courses must be taken from one of the following areas of concentration:
Accounting
- ACCT 140. Intermediate Accounting I (3 hrs)
- ACCT 150. Intermediate Accounting II (3 hrs)
One of the following:
- ACCT 160. Cost Accounting (3 hrs)
- ACCT 301. Auditing (3 hrs)
- ACCT 303. Income Taxation (3 hrs)
Business Entrepreneurship
- ENTR 120. Foundations of Entrepreneurship (3 hrs)
- ENTR 310. Entrepreneurship: Managing Technology and Innovation (3 hrs)
- ENTR 320. Entrepreneurship and Business Plans (3 hrs)
Economics
- ECON 210. Intermediate Macroeconomics (3 hrs)
- ECON 220. Intermediate Microeconomics (3 hrs)
- One ECON elective (other than ECON 260) (3-4 hrs)
Finance
- ECON 201. Money, Banking and Monetary Policy (3 hrs)
- FINC 303. Investment Analysis (3 hrs)
- FINC 310. International Finance (3 hrs)
Health Care Management
- BUAD 205. Health Care Organization and Management (3 hrs)
- BUAD 305. Health Care Economics and Finance (3 hrs)
- BUAD 306. Health Care Policy and Strategy (3 hrs)
International Trade
- MKTG 234. International Marketing (3 hrs)
- FINC 310. International Finance (3 hrs)
One of the following:
- POLI 110. International Relations (3 hrs)
- ECON 210. Intermediate Macroeconomics (3 hrs)
Marketing
- MKTG 231. Marketing Research Methods (4 hrs)
- MKTG 234. International Marketing (3 hrs)
- MKTG 235. Service Marketing (4 hrs)
Sport Management
- BUAD 202. Sport Management (3 hrs)
- EXER 245. Women in Sport (3 hrs)
- MKTG 236. Sport Marketing (3 hrs)
No more than three courses, regardless of semester hours, may be counted toward both a student’s major and a minor.
Business Administration Minor
Required courses:
- ACCT 120. Principles of Financial Accounting (3 hrs)
- BUAD 111. Management Information Systems(3 hrs)
- BUAD 201. Principles of Management (3 hrs)
- ECON 100. Principles of Economics (4 hrs)
- FINC 302. Corporate Finance (4 hrs)
- MKTG 230. Principles of Marketing (3 hrs)
A minimum of three courses must be taken at Salem.
No more than three courses, regardless of semester hours, may be counted toward both a student’s major and a minor.
Business Entrepreneurship Minor
This minor is not available to students who are taking a business entrepreneurship concentration in the business administration major.
Required courses:
- BUAD 201. Principles of Management (3 hrs)
- ECON 100. Principles of Econ (4 hrs) or ACCT 120. Principles of Financial Acct (3 hrs)
- ENTR 120. Foundations of Entrepreneurship (3 hrs)
- ENTR 310. Entrepreneurship: Managing Technology and Innovation (3 hrs)
- ENTR 320. Entrepreneurship and Business Plans (3 hrs)
- MKTG 230. Principles of Marketing (3 hrs)
A minimum of three courses must be taken at Salem.
No more than three courses, regardless of semester hours, may be counted toward both a student’s major and a minor.
Marketing Minor
This minor is not available to those students who are taking a marketing concentration in the business administration major.
Required courses:
- BUAD 201. Principles of Management (3 hrs)
- MKTG 230. Principles of Marketing (3 hrs)
- MKTG 231. Marketing Research Methods (4 hrs)
- MKTG 234. International Marketing (3 hrs)
- MKTG 235. Service Marketing (4 hrs)
Select one of the following:
- COMM 322. Communication Campaigns (3 hrs)
- MKTG 270. Internship in Marketing (3 hrs min.)*
*MKTG 270 must be taken under the supervision of a Salem faculty member who is currently teaching marketing courses.
At least three of the six courses must be taken at Salem.
No more than three courses, regardless of semester hours, may be counted toward both a student’s major and a minor.
Sport Management Minor
The minor is not available to those students taking a sport management concentration in the business administration major.
Required courses:
- BUAD 202. Sport Management (3 hrs)
- BUAD 240. Business Statistics (3 hrs)
- BUAD 270. Internship in Management (3 hrs min.)*
- EXER 245. Women in Sport (3 hrs)
- MKTG 236. Sport Marketing (3 hrs)
Select one of the following:
- BUAD 124/PHIL 124. Business Ethics (3 hrs)
- BUAD 220. Business Law (3 hrs)
*BUAD 270 must be taken under the supervision of a Salem College faculty member and focused on sport management.
At least three of the six courses must be taken at Salem College.
All business administration courses require a minimum of first-year standing or permission of the instructor in addition to any other prerequisites noted.
BUAD 111. Management Information Systems (3 hrs)
This course provides an introduction to the fundamentals of Information Systems (IS) in organizations. The course examines the role of computers, databases, networking, and application software in managing the business organization and examines their integration with other functions such as accounting, production, marketing, and finance. The fundamentals of business process modeling are explored using process flow diagrams. Basic spreadsheet and database management tools are presented to understand methods for organization, manipulation, and retrieval of data. The ethical, strategic, and global aspects of Information Systems are explored.
BUAD 124. Business Ethics (3 hrs)
This course examines some of the various ways in which ethics is relevant to business by analyzing the ethical elements in problems that arise in the business world. Emphasis is placed upon the application of general ethical theories to such problems. Cross-listed with PHIL 124. (HM)
BUAD 200. Independent Study in Management (1-4 hrs)
Independent study under the guidance of a faculty advisor. Independent study may take the form of readings, research, conferences, and projects. It may not be used to substitute for regular courses in the curriculum. Independent study may be taken for a total of twelve semester hours, but usually not more than six semester hours per term. Prerequisites: 2.0 cumulative average, previous study in management, permission of the department.
BUAD 201. Principles of Management (3 hrs)
An analysis of the historical concepts and environments that play a major part in the changing concepts of management from the Industrial Revolution to today’s globalization. Specific attention is devoted to the management functions – planning, organizing, leading, and controlling – within the context of topics such as planning and goal setting, globalization, human resources, business ethics, motivation, leadership, teamwork, decision-making, communications, diversity, and information technology.
BUAD 202. Sport Management (3 hrs)
This course examines the application of general principles of management to the sport industry and to the management of sport organizations in particular. The course provides the student with an overview of the sport industry, as well as the issues encountered by managers of sport organizations and how management techniques can be applied to effectively address these issues. Students will also consider the ethical and moral dilemmas facing sport managers and the sport industry as a whole. Provides an overview of management in the professional sport franchise; intercollegiate athletics, sport marketing, and promotions; athlete representation; sport law; facilities management; the health club, spa, resort industry; and sport tourism.
BUAD 205. Health Care Organization and Management (3 hrs)
An introduction to the US health care system, both the public and private sector. Examines the basic determinants and measurement of health, wellness, and disease; the structure of the health system; current topics in health care reform, the policy process, and advocacy for public health. Examines the principles of organization, management, and marketing as applied to the production and delivery of health care services. Prerequisite: BUAD 201.
BUAD 220. Business Law (3 hrs)
The American legal system and the law as it relates to the conduct of business in our society. A survey of our federal and state court systems and an examination of the constitutional foundations of the American judicial structure. Specific attention to torts, contracts, property, and other legal concepts integrally related to commercial enterprise.
BUAD 240. Business Statistics (4 hrs)
Emphasis on sampling and probability distributions, measures of central tendency and dispersion, hypothesis testing, linear and multiple regression analysis, and analysis of variance. Students will use a software program for statistical analyses. Prerequisite: a college-level math course or permission of instructor. (QI)
BUAD 260. Special Topics in Management (1-4 hrs)
An intense examination of a specialized topic in contemporary management. A research paper and oral presentation will be required. Possible topics for this course include, but are not limited to, small business management, personnel management, production and operations management, retail management, and leadership.
BUAD 270. Internship in Management (1-4 hrs)
An opportunity to use the knowledge and skills the student has learned in coursework to solve problems in a real work setting. The apprenticeship aspect of the internship implies that the student has some base of knowledge and will increase her knowledge and skills by direct contact with an experienced, knowledgeable mentor. Open to sophomores, juniors, and seniors with a 2.0 cumulative average; maximum credit per term is four semester hours; admission by application only.
BUAD 290. Honors Independent Study in Management (3-4 hrs)
Advanced independent study under the guidance of a faculty advisor. Normally open to juniors and seniors with a 3.5 average in business administration, subject to the approval of the department chair. Honors work may be taken for a maximum of eight semester hours.
BUAD 305. Health Care Economics and Finance (3 hrs)
Applies micro- and macroeconomic concepts to health care processes and markets. Topics of discussion include the costs of health care, the markets for health care, and economic tools to improve systemic health care outcomes. Introduces the fundamental principles guiding financial decision-making as they apply to the management of health care organizations. Prerequisite: ECON 100.
BUAD 306. Health Care Policy and Strategy (3 hrs)
Examines the formulation and implementation of health policy in the US and other countries. Emphasis is on the application of analytical contributions from health economics, health services research, and other policy-related disciplines to current issues in health care delivery, organization, and financing in a global setting. Explores the implications for strategies of health care organizations. Prerequisites: BUAD 205 and 305.
BUAD 325. Oxford Summer Program (3 hrs)
Salem College, St. Peter’s College of Oxford University Summer Program in International Business. The program will be taught by St. Peter’s college faculty and other distinguished lecturers on the campus of St. Peter’s College, Oxford, England, and is comprised of three week-long integrated modules: Globalization and the World Economy; Development of Global Companies; and Business Culture, Ethics, and Gender Issues. The course to be taught in the summer will include approximately eighty contact hours. Students are also expected to complete case studies, do independent research, and attend joint interdisciplinary seminars. Formal evaluation of student academic performance is to be provided by on-site Salem College faculty at St. Peter’s College.
BUAD 350. Senior Seminar in Strategic Management (4 hrs)
A capstone course with a heavy emphasis on case studies in strategy formulation and implementation. Students will utilize conceptual tools learned in principles of management, corporate finance, marketing, economics, and accounting. Part of the course will include a semester-long analysis of publicly traded corporations. Prerequisites: permission of instructor, graduating senior status, BUAD 201 and 240, FINC 302, MKTG 230 and ACCT 120.
BUAD 390. Senior Seminar in International Business (2 hrs)
Intensive study of selected topics in international business with an emphasis on current research. Students will be required to complete and present a major research paper. Required of all senior majors.
Marketing
Courses in marketing are offered as part of the Business Administration Program. Although there is no major in marketing, it may be chosen as either a minor or a concentration area within the business administration major.
Marketing Courses (MKTG)
MKTG 230. Principles of Marketing (3 hrs)
An introduction to the understandings of marketing and the marketing management process. Includes analyzing marketing opportunities and segmenting, targeting, and positioning for competitive advantage. Specific attention will be given to the development of marketing strategy and the marketing mix of product, price, place, and promotion.
MKTG 231. Marketing Research Methods (4 hrs)
An in-depth study of the marketing research process. Attention is given to the scope of marketing research, the research process, research designs, measurement concepts, sampling, including basic statistical concepts, data analysis and interpretation, and the use of marketing research. Students will do a marketing research problem, using SPSS for statistical analysis. Prerequisites: MKTG 230 and BUAD 240 (may be co-requisite); or permission from the instructor. (QI)
MKTG 234. International Marketing (3 hrs)
A study of the problems and opportunities in marketing products and services overseas. This includes an analysis of economic, political, cultural, and financial environments, as well as the global concerns of pricing, promotional and distribution strategies. Prerequisite: MKTG 230.
MKTG 235. Service Marketing (4 hrs)
An in-depth study of the marketing of services in the business world. Specifically, the course will cover the underlying process of service delivery, the way that technologies are affecting this delivery, and the concept of creating value through service marketing with human resource management. Prerequisite: MKTG 230.
MKTG 236. Sport Marketing (3 hrs)
The applications of marketing science to all realms of the sport industry, including: professional sport; intercollegiate, interscholastic, and amateur sport; and commercial and public sport and recreational facilities, clubs, resorts, and service organizations. An introduction to sales as an element of marketing. A view of the international sport business and ethical issues in sport marketing. Prerequisite: BUAD 202.
MKTG 270. Internship in Marketing (1-4 hrs)
An opportunity to use knowledge and skills the student has learned in coursework to assess and solve problems in the real work setting. The apprenticeship aspect of the internship implies that the student has some base of marketing knowledge and will increase her knowledge of skills by direct contact with an experienced supervisor in a marketing environment. This course is open to Juniors and Seniors with a 2.0 cumulative G.P.A. Faculty sponsor must be a full-time Salem faculty member who is currently teaching marketing courses. Admission is by application only. Maximum of four semester hours may be taken per term.
Finance
Courses in finance are offered as part of the Business Administration Program. Although there is no major or minor in finance, finance may be chosen as a concentration area within the business administration major.
Finance Courses (FINC)
FINC 101. Personal Finance (3 hrs)
This course is designed to bring students who have little knowledge of personal finance to the point at which they are knowledgeable consumers in the areas of money management, credit management, tax planning, investment management, housing, insurance planning, retirement and estate planning.
FINC 302. Corporate Finance (4 hrs)
A course of study concerned primarily with the management of capital sources and uses and factors influencing the financial structure, capital budgeting administration, and analysis methods. Prerequisites: MATH 070 or MATH 100; ACCT 120.
FINC 303. Investment Analysis (3 hrs)
The study of domestic and global portfolio management, investment alternatives, investment markets, expected return and risk evaluation, investment mix selection, and optimizing behavior of the individual investor.
FINC 310. International Finance (3 hrs)
The purpose of this course is to focus on value-maximization and risk management in firms with emphasis on multinational corporations. Concepts from finance are used to analyze capital budgeting, the cost hedging, international cash management, the debt denomination decisions, and international capital budgeting. Emphasis is on applying economic and financial theory to management decisions through a series of quantitative assignments and case studies. Prerequisite: FINC 302.
Business Entrepreneurship
Courses in business entrepreneurship are offered as part of the Business Administration Program. Although there is no major in business entrepreneurship, it may be chosen as either a minor or a concentration area within the business administration major.
Business Entrepreneurship Courses (ENTR)
ENTR 120. Foundations of Entrepreneurship (3 hrs)
This course introduces students to entrepreneurship concepts, topics, and terminology. Specifically, the course addresses the core concepts of entrepreneurship, its role in our economy, and its potential impact on career opportunities. Students will develop an understanding of the entrepreneurial thought process and skills of entrepreneurs as they learn about opportunity recognition; industry, competitor, and management styles; market analysis; financial issues; and planning and structuring an entrepreneurial venture.
ENTR 310. Entrepreneurship: Managing Technology and Innovation (3 hrs)
Examines the role of new technology and innovation in changing the performance capabilities of businesses, not-for-profits, and government organizations. Topics include the processes of innovation; research and development and imitation strategies; patents and intellectual property; the role of technology in competitive strategy; evaluation and implementation of new technology; regulation, public policy, and ethical issues; international technology transfer; and new technology business ventures. Explores case studies in a variety of industry, technical, and global contexts. Prerequisites: ECON 100 or ACCT 120.
ENTR 320. Entrepreneurship and Business Plans (3 hrs)
An in-depth study of the elements that serve as a catalyst to being a successful entrepreneur. These include a knowledge of the preparation and analysis of financial statements, sources of venture ideas, conducting market research, addressing the human side of being an entrepreneur, and finally the development of a realistic business plan that could be submitted to a venture capitalist or for bank financing. Prerequisites: ENTR 120 and 310; ECON 100 or 120; ACCT 120 or departmental assessment of proficiency in foundations of accounting; MKTG 230; and BUAD 201; or permission of instructor.
I could not imagine being successful in my field without the real application scenarios that I was exposed to from Dr. Rapp’s Market Research Methods course. The experience of conducting my own study from start to finish really set me apart in the job interview process. I had applicable experience to compare to the position and overall company that I was applying for. That experience has aided me in understanding the overall process structure of Hanover’s business model. No matter how far away we may go, Salem never stops being home.
Fareena Bacchus
Class Year: 2015
Major: Communication, minor in marketing
Hometown: Arlington, VA
Career: A primary research associate at Hanover Research, a market research firm that ranks as the second fastest-growing firm by the American Marketing Association. I conduct in-depth interviews with professional experts in their field for various research studies.