In reading Introduction to Business, the student engages with the very rich variety of systems and processes, theories and practices that underlie the business world, gaining a wide critical knowledge of the subject and related fields. “Business”, in the loosest sense, denotes the sale and purchase of goods and services; but we all know the concept is far more complex than that. Indeed, business encapsulates many diverse ideas to do with the complex phenomena that mediate relations between production, distribution and consumption. From the very small to the truly global in scale, business is everywhere; and, everywhere we go, we find business. As a result of the prevalence of business, the topic may be viewed through multiple lenses. We can approach business in relation to its pragmatic demands, the production of a product for example, or we can address the economic and political contexts in which enterprise operates. Many alternate approaches are also available. Business can be looked at in terms of its ethical, legal, sociological, psychological, cultural, and historical (among many other) implications. As a highly heterogeneous concept, Business is necessarily concerned with many different issues, and students of Introduction to Business will necessarily be expected to have a critical understanding them: social, political and economic, as well as financial, logistical, operational, and other practical aspects of enterprise. Students thus need to be able to take a broad as well as narrow vantage: to understand the overarching systemic frameworks by which business operates at a global scale, as well as the minutiae at play in the everyday running of an enterprise.
In a sense, then, studying Introduction to Business is about imposing a level of analytical order on an otherwise somewhat disorderly set of interrelated but discrete phenomena. Global economics, and therefore business, as the recent financial crisis remind us, are notoriously difficult to predict. Now more than ever, therefore, we need talented new minds to take up the study of Business, to bring fresh light on the function of global markets, the workings of finance and accounting, managerial strategy, and the other essential components of enterprise. Introduction to Business accordingly endows the student with the requisite tools and knowledge to be a meaningful contributor to the business community as a professional practitioner, academic researcher or perhaps both. Hence the successful Business student will have a solid foundation in business theory, be well versed in research methods and critical approaches – commanding the skill for abstraction and logical argument necessary for scholarly work. In addition, the capable student will understand how business works at the ground level, will have insight in and experience of the day-to-demands of running an organisation. Being able to unite the abstract and academic with the concrete and practical is an essential asset for success in business studies. A student who can succeed on paper is after all more likely to succeed in practice. This will take time and fine-tuning to refine but will be well worth the doing when, at last, you enter into the highly competitive world of enterprise, a sharply honed business mind.
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