Kenan–Flagler Business School

www.kenan-flagler.unc.edu

JAMES W. DEAN JR., Dean

Jennifer Conrad, Senior Associate Dean and Distinguished Professor

Distinguished Professors

Barry L. Bayus, Richard A. Bettis, Robert M. Bushman, Jennifer S. Conrad, James W. Dean Jr., Jeffrey R. Edwards, John P. Evans, Paolo Fulghieri, Eric Ghysels, John Hand, David J. Hartzell, David A. Hofmann, James H. Johnson Jr., John D. Kasarda, Wayne R. Landsman, Mark H. Lang, Edward Maydew, William D. Perreault Jr., David J. Ravenscraft, Albert H. Segars, Douglas A. Shackelford, Anil Shivdasani, J.B. Steenkamp, Jayashankar M. Swaminathan, Valarie Zeithaml.

Professors

Sridhar Balasubramanian, Edward J. Blocher, Greg Brown, Douglas Elvers, Steve Jones, Christian Lundblad, Anne S. Marucheck, Alan W. Neebe, Atul Nerkar, Hugh O’Neill, William P. Putsis, Harvey M. Wagner.

Associate Professors

Jeffery Abarbanell, Christopher Bingham, Richard S. Blackburn, Robert A. Connolly, Vinayak Deshpande, Nicholas M. Didow, Lynn Fisher, Alison Fragale, Diego Garcia, Katrijn Gielens, Wendell G. Gilland, Mustafa Gultekin, Eva Labro, Arvind Malhotra, Jana Smith Raedy, Adam V. Reed, Geoffrey Tate.

Assistant Professors

Larry Chavis, Michael Christian, Riccardo Colacito, Mariano Croce, Dragana Cvijanovic, Sreedhari Desai, David Dicks, Isaac Dinner, Noah Eisenkraft, Nickolay Gantchev, Bin Hu, Lisa Jones, Chotibhak Jotikasthira, Eda Kemahlioglu-Ziya, Saravanan Kesavan, Dimitrios Kostamis, Venkat Kuppuswamy, Tarun Kushwaha, Nandini Lahiri, Anh Le, Xiaoyuan Lu, Shimul Melwani, Adam Mersereau, Paige Ouimet, Ali Parlakturk, Matthew Pearsall, Andrew Petersen, Scott Rockart, Amin Sayedi, Bradley Staats, Guenter Strobl, Stephen Stubben, Sriraman Venkataraman, Edward Van Wesep, Sean Wang, Kristin Wilson.

Professors Emeriti

Robert Adler, Carl R. Anderson, Gary M. Armstrong, Jack N. Behrman, R. Lee Brummet, Dewitt Clinton Dearborn, Robert DesJardins, G. David Hughes, Thomas H. Jerdee, Jay Edward Klompmaker, Clifton Holland Kreps Jr., Hans E. Krusa, Harold Q. Langenderfer, J. Finley Lee, Richard Levin, Richard Wolcott McEnally, Curtis McLaughlin, Dannie Joseph Moffie, Jack Olin, John Pringle, Richard Rendleman, Aleda Roth, David Rubin, William S. Stewart, Junius H. Terrell, Rollie Tillman, D. Clay Whybark.

Introduction

The Kenan–Flagler undergraduate business program offers a program of study that provides students with a thorough grounding in all areas of business and a broad introduction to the liberal arts. The Kenan–Flagler undergraduate experience is distinctive because the school offers

• An undergraduate business experience that is ranked highly in the nation by U.S. News & World Report and Bloomberg BusinessWeek

• Career services professionals who help students identify career interests and a plan for pursuing them

• A liberal arts-oriented curriculum

• A global perspective relevant to the needs of business today

• Activities and organizations for an active student life

• Individual attention usually associated with smaller schools

• Multiple opportunities provided by a leading, large research university

• Faculty who are outstanding in and out of the classroom

Students choose business electives to develop a specific area of business interest. Courses selected from other UNC–Chapel Hill schools and programs add to their depth of knowledge. The result is that students are able to see “the big picture.” The school believes that completion of the undergraduate business program provides students with a distinct advantage in a highly selective and competitive job market.

Students may choose to complete a minor in business administration instead of a business major, or they may take a limited number of business administration courses as general electives for their chosen degree program.

The business administration program is considered a broad-based, general management degree, and the Kenan–Flagler Business School encourages breadth in both the business curriculum and in the continuation of study in fine arts, humanities, and natural and social sciences. A second major may be possible and requires advance approval by both the undergraduate business program and the second academic unit. In all cases, undergraduate business majors are encouraged to take upper-level courses during the third and fourth years.

Program of Study

The degree offered is the bachelor of science with a major in business administration. A minor in business administration is also offered. Students are subject to the requirements in place when they are admitted to the Kenan–Flagler Business School; consequently, the requirements described in this bulletin particularly apply to students admitted to the school during the 2013–2014 academic year.

Admission to the Kenan–Flagler Business School

Kenan–Flagler’s undergraduate business program is a small, select program with approximately 330 majors and 30 minors admitted each year. The program seeks candidates whose analytical and organizational abilities, writing skills, and motivation indicate strong potential for success. Admission is competitive and based on academic achievement, leadership, cocurricular activities and involvement, work experience, diversity of skills and interests, and focus and depth of thought as expressed in essays, a persuasive cover letter, and résumé. Applicants may receive an admission interview.

Preparation for the Business Administration Major or Minor

A student admitted to the Kenan–Flagler Business School may begin the undergraduate business program in the spring semester of the second year or fall semester of the third year. First- and second-year students in the General College who consider themselves prebusiness majors complete certain prerequisite courses as part of their General Education requirements. Preparation for the business major and minor is the same, except that ECON 410 is not a prerequisite for the business minor.

A prebusiness track includes successful completion (defined as earning a final grade of at least a C, not C-), of the following courses (or their equivalents):

• BUSI 101

• ECON 101

• ECON 410

• ENGL 105

• The calculus mathematics requirement can be fulfilled by taking MATH 152, 231, 232, or STOR 113. Students receiving credit by examination or transfer credit for both MATH 231 and 232 are exempt from this requirement.

• STOR 155

First-year students are encouraged to complete ENGL 105, the calculus mathematics requirement, ECON 101, and one of the BUSI 101, ECON 410, or STOR 155 courses. If students wish to be considered for admission in the spring semester of the second year, they need to complete all requirements by the end of the first semester of the second year. To be considered for admission in the fall semester of the third year, all requirements should be completed by the end of the second year.

For the foundational skills in foreign language, the business school neither requires a particular language nor requires coursework beyond level 3. Please note, however, that some overseas study programs are language-based and may necessitate a student’s proficiency beyond level 3. An emphasis in international business requires completion of a foreign language through level 4.

The business school makes no other specific recommendations about courses for other General Education requirements. The school encourages students to challenge themselves by exploring unfamiliar, new disciplines and by strengthening written and verbal communication and critical thinking. It is possible for a business major to earn a second major and a minor or two minors. First- and second-year students may wish to build a foundation for such a complementary academic track.

Admission from the General College

Students interested in pursuing the business major can apply to begin the program in the spring of the second year or the fall of the third year. The undergraduate business admissions process can begin as early as the summer after the first year. All business prerequisites must be completed prior to beginning the program. Applicants with a minimum cumulative grade point average of 3.0 in all coursework and in business prerequisites are given priority consideration in the admissions process. While all of the factors mentioned above are considered in the admissions process, academic performance at UNC–Chapel Hill is a critical component.

Admission to the business minor follows the same application schedule and process as the business major. Admission is both selective and competitive with approximately 30 students admitted to the business minor. Students from any discipline may apply to the business minor during the fall semester of their second year or the fall semester of their third year. Applications for the minor are not accepted once a student has entered the fourth year.

The business administration major is a four- or five-semester program. Students are required to graduate from UNC–Chapel Hill in eight semesters. The business minor requires a minimum of two semesters, preferably three, to complete.

Transfer Admission from Institutions other than
UNC–Chapel Hill

Undergraduate transfer students cannot be admitted directly to the Kenan–Flagler Business School. Students who seek to transfer to UNC–Chapel Hill and pursue the bachelor of science with a major in business administration degree must first apply directly to the UNC–Chapel Hill Office of Undergraduate Admissions. Students who meet requirements for admission to the University are admitted into the College of Arts and Sciences. Students who seek to transfer to UNC–Chapel Hill and pursue the undergraduate business major are strongly encouraged to consult the transfer course equivalency table on the Office of Undergraduate Admissions Web site at www.unc.edu/sis/adm/xfereq.html.

Currently, Kenan–Flagler reserves a limited number of competitive spaces in the business major for students who transfer from other institutions. During the first semester in residence at UNC–Chapel Hill, transfer students may apply to the business school. Transfer students should complete most General Education requirements and satisfactorily complete all business prerequisites. Transfer students interested in pursuing the business major are strongly encouraged to take one or two courses at UNC–Chapel Hill during the summer prior to their first semester in residence. Completion of one or more UNC–Chapel Hill courses will provide more information about an applicant’s candidacy in the admissions process, Transfer students interested in pursuing the business major may also consult an advisor in the Undergraduate Business Program Office about taking one or two business courses prior to admission.

Students who meet the criteria outlined above are eligible for admission to Kenan–Flagler, but because of space limitations, admission cannot be guaranteed. Transfer students are evaluated for the limited number of spaces using the same criteria used for General College students. Students who transfer from a constituent institution of the University of North Carolina or who were previously enrolled in a business school accredited by the Association to Advance Collegiate Schools of Business (AACSB) receive preferred consideration.

Majoring in Business Administration: Bachelor of Science

School Requirements

• BUSI 401, 406, 407, 408, 410, and 411. Students should plan to complete these six courses within the first two semesters of entering the business program. Taking BUSI 411 in the second semester is recommended.

• BUSI 403, 404, and 405. Students can take these courses at any time.

• Eighteen credit hours of additional business electives from at least two areas (see “Emphasis Areas” below)

• At least five courses outside the Kenan–Flagler Business School and any additional business or nonbusiness courses needed to complete a minimum of 120 credit hours, including transfer credit, to graduate. An area core course, with an earned grade of at least a C (not C-), is a prerequisite course for any elective course in that area (e.g., BUSI 406 Marketing is a prerequisite for BUSI 560 Advertising). Other restrictions may apply to certain business courses. Students must complete a foreign language through level 4 if they choose to pursue an emphasis in international business.

• Undergraduate Business Global Awareness: This requirement may be fulfilled by a for-credit study abroad experience, by completion of an approved second major or minor in a contemporary language or in the Curriculum in Global Studies, by an approved three-credit global business course, by an F-1 student visa (for international students), or by other relevant coursework (by petition only).

Emphasis Areas

Students in the undergraduate business program are provided with the opportunity to add an optional area of emphasis to their general management degree. While the general management degree is the foundation of the undergraduate business program, students can add additional depth in the following areas: consulting, corporate finance, entrepreneurial studies, general finance, international business, investments, marketing management, operations management, real estate, or sales. Areas of emphasis generally consist of a minimum of nine credit hours of elective courses.

Consulting

• BUSI 554 (3 hours)

• Applied learning experience (3 hours) chosen from one of the following options

º BUSI 493 or 693 (based on approval)

º BUSI 505, 514, or 650

º Study abroad with work component (based on approval)

º Other three credit courses with practical, hands-on experience (based on approval)

• Elective course(s) from an area of interest (3 hours total)

º Finance: BUSI 582, 618; MBA 786A (by application and permission only)

º Marketing: BUSI 562, 563, 564, 566, 568, 617

º Operations: BUSI 532, 533, 534

º Organizational behavior: BUSI 550, 551, 555

º Real estate: BUSI 586

º Strategy and entrepreneurship: BUSI 506, 525

º Sustainability: BUSI 507, 513, 515

Corporate Finance

• BUSI 409 and 582 (4.5 hours total)

• Elective courses (4.5 hours total) chosen from BUSI 490.22 (Behavioral Finance), 496 (finance topic, based on approval), 502, 516, 517, 580, 584, 587, 588, 600, 602, 618, 688, 691H/692H (based on approval)

Entrepreneurial Studies

• BUSI 500 and 506 (6 hours total)

• Elective courses (3 hours total) chosen from BUSI 496 (entrepreneurship topic, based on approval), 501, 502, 503, 504, 505, 507, 512, 516, 517, 564, 623, 691H/692H (based on approval)

Finance (General)

• Elective courses (9 hours total) chosen from BUSI 409, 496 (finance topic, based on approval), 490.16 and 490.17 (Quantitative Investment Management), 490.18 and 490.19 (Portfolio Management), 490.22 (Behavioral Finance), 502, 508, 516, 517, 573, 580, 582, 583, 584, 585, 587, 588, 589, 594, 598, 600, 601, 602, 603, 618, 688, 691H/692H (based on approval)

International Business

• Foreign language through level 4

• Business-oriented international experience including semester abroad programs, summer programs, or Kenan–Flagler global immersion study trips

• International business elective courses to bring the total hours to nine credits. Course may be chosen from BUSI 200, 490.14 (Mega Projects in Latin America), 493 (based on approval), 496 (based on approval), 535, 573, 610, 617, 618, 691H/692H (based on approval).

Internationally-themed business courses taken outside the United States count toward these nine credit hours.

Investments

• BUSI 580 (3 hours)

• Elective courses (6 hours total) chosen from BUSI 496 (finance topic, based on approval), 490.16 and 490.17 (Quantitative Methods in Finance), 490.18 and 490.19 (Portfolio Management), 490.22 (Behavioral Finance), 516, 517, 583, 588, 589, 594, 598, 600, 618, 688, 691H/692H (based on approval)

Marketing Management

• Elective courses (9 hours total) chosen from BUSI 496 (marketing topic, based on approval), 501, 559, 560, 561, 562, 563, 564, 566, 568, 617, 691H/692H (based on approval)

Operations Management

• BUSI 532 and 533 (6 hours total)

• Elective courses (3 hours total) chosen from BUSI 490.24 and 490.25 (Healthcare Operations), 496 (operations management topic, based on approval), 534, 535, 536, 537, 538, 554, 610, 691H/692H (based on approval); STOR 305

Real Estate

• BUSI 585 and 603 (4.5 hours total)

• Elective courses (4.5 hours) chosen from BUSI 496 (real estate topic, based on approval), 580, 589, 691H/692H (based on approval); PLAN 246 or 491

Sales

• BUSI 501 and 561 (6 hours total)

• Elective courses (3 hours total) chosen from BUSI 496 (sales topic, based on approval), 559, 560, 562, 563, 564, 566, 568, 617, 691H/692H (based on approval)

Transfer of Business Course Credits from Other Institutions

Without regard to a student’s prospective academic major or minor at UNC–Chapel Hill, the Kenan–Flagler Business School will consider for transfer credit business administration courses that meet each of the following six criteria. No exceptions are made.

1. For upper-level courses (equivalent to those numbered 400–699 in the Kenan–Flagler undergraduate curriculum), the course was completed at a) an institution accredited by AACSB International, or b) a constituent four-year institution of the University of North Carolina, or c) a foreign institution preapproved by Kenan–Flagler as part of a UNC–Chapel Hill affiliated overseas study program. All courses for the business minor must be completed at UNC Kenan–Flagler Business School. Upper-level courses completed at other institutions are not accepted for credit. For lower-level courses (BUSI 101 Management Accounting), the business school will consider comparable courses from any accredited institution of higher education.

2. The final course grade earned was at least C (not C-) as verified by an official transcript. Courses taken Pass/Fail are ineligible.

3. A comparable course is available in the Kenan–Flagler undergraduate curriculum.

4. The course is not approved for credit in other UNC–Chapel Hill departments (i.e., no double credits).

5. The student completed the course within the past three academic years.

6. The substantive coverage of material constitutes no less than 75 percent of coverage in the comparable Kenan–Flagler course, and there is sufficient indication of individual student evaluation (i.e., no less than two major examinations, including a final examination).

For students who wish to transfer to UNC–Chapel Hill, preapproval of such courses is recommended. Requests for validation of course credits earned at another institution must be made no later than the end of the first semester of enrollment at UNC–Chapel Hill following completion of the course. The business school does not award transfer credits in excess of 13 credit hours total (four courses in any combination of lower-or upper-level courses). For students who earn admission to Kenan–Flagler Business School, no more than three upper-level courses taken at another institution may be applied to the undergraduate business major curriculum unless earned as part of a preapproved Kenan–Flagler overseas study program. Transfer students who have completed a substantial number of business courses at another institution should contact the Undergraduate Business Program Office for more specific information related to transfer students. Note that the Department of Economics, not the business school, evaluates economics courses for transfer credit. The Department of Economics is a unit of the College of Arts and Sciences and is located in Gardner Hall.

To request review and validation of eligible courses, students should submit a Transfer Credit Request Form accessible from the undergraduate business program Web site. A copy of the course syllabus must be included for all courses being evaluated. The syllabus must include the title and edition of textbook(s) as well as list explicitly the course content. If the syllabus lists only chapters covered, without a description of the chapter content, a copy of the textbook’s table of contents must be included.

Minoring in Business Administration

The business administration minor offers solid exposure to management education. The business minor is available to students in any discipline. Students must take a minimum of five business courses (15 credit hours) after completing prerequisites. The program usually takes two or three semesters to complete. Admission to the minor is competitive.

• All admitted business minors must complete the following prerequisite courses: BUSI 101, ECON 101, ENGL 105, MATH 152 or 231 or 232 or STOR 113, STOR 155.

• The following business courses must be completed as part of the minor: BUSI 403, 406, 408, and 411. Taking BUSI 411 no earlier than the second semester in the minor program is recommended.

• Minors choose additional BUSI courses to reach the minimum 15 credit hours.

Taking Business Courses as a Nonmajor/Nonminor

Undergraduate students who do not intend to major or minor in business administration may take a limited number of business courses (limits may change based on course availability) as free electives for their particular major. The maximum number of courses in any semester is two, regardless of credit hours, and over the course of a student’s academic career the limit is five courses, regardless of credit hours. Registration in business courses for nonmajors and nonminors is made on a space-available basis. Preference is given to students with an overall grade point average of 3.0. Requests for available seats are made online through the undergraduate business program Web site during the first week of each academic semester. Final approval to take a business course is at the discretion of the undergraduate business program. Refer to the course description list for additional information concerning prerequisites for specific courses.

Advising

Once admitted to the business major, all academic matters, including academic advising, are handled in McColl Building. Each student is assigned a primary academic advisor as indicated in their Student Center in ConnectCarolina. Students admitted to the business minor should continue to work with their major department for academic matters outside of business minor requirements. All students should meet regularly with their advisor and monitor their progress toward completion of both the business major and minor requirements utilizing Tar Heel Tracker. Upon admission, business majors and minors receive information on how to schedule appointments through the undergraduate business program intranet.

Special Opportunities in the Kenan–Flagler Business School

Honors in Business

The Kenan–Flagler Business School honors program offers outstanding and motivated undergraduate business students the opportunity to work closely with an individual faculty member on a specialized research topic of the student’s choice during the senior year. Students with a 3.5 grade point average in business courses and in all University coursework are invited to be considered for the opportunity to participate in this two-course program (BUSI 691H and 692H).

In the first semester (BUSI 691H), students become familiar with the mechanics, methodologies, and recent literature on topics of major interest. Each student formulates an honors thesis proposal and initiates work on the project. During the second semester (BUSI 692H), the thesis work is conducted under the supervision of a faculty advisor with expertise in the general topic’s area of research.

Students who successfully complete the first-semester course (BUSI 691H) will submit to an oral examination on the thesis. Upon successful completion of the program, the student receives the bachelor of science degree with honors or highest honors, as determined by the student’s committee.

Career Services

The undergraduate business program provides career development services tailored to business students, such as specialized training and professional development activities, targeted networking opportunities, function- and industry-specific career clubs and student organizations, and focused career coaching. Students are strongly encouraged to register with University Career Services, the primary resource for all UNC–Chapel Hill students for basic career exploration and interest development, job/internship postings, résumé referral, on-campus interviewing, and career fairs.

As the job market continues to become more competitive, the undergraduate business program strongly encourages business students to undertake internships or other experiential learning opportunities when possible. These hands-on experiences can be a valuable part of a student’s career development.

Leadership Development

The Kenan–Flagler Leadership Initiative strives to develop Kenan–Flagler students to become exceptional leaders who positively impact the organizations they lead and the communities they serve. This is accomplished through a systematic approach—integrating principles, practice, feedback, and reflection—that is grounded in leading-edge academic research and business practice. Examples of undergraduate business leadership development programming include lessons-of-experience sessions, managerial simulations, self-assessment workshops, executive coaching, student consulting projects, and student leader development.

STAR Program

Kenan–Flagler’s Student Teams Achieving Results (STAR) programs field teams of top M.B.A.s and undergraduate business students to build comprehensive and actionable strategies for eligible corporations and not-for-profits. STAR teams begin the project by developing a scope of work with the client and signing a confidentiality agreement. Over the life of the project, teams typically analyze the market, assess the competitive situation, develop a strategy, and define an action plan that covers financials, risk assessment, and implementation. STAR teams are guided throughout the course by a course professor, a team-specific faculty advisor, and client executives. Opportunities in STAR–Domestic Business Projects exist.

Student Involvement

The undergraduate business program sponsors a variety of student organizations, which include the Accounting Club, AIESEC (International Association of Students Interested in Economics and Business Management), Campus Smart Initiative, Carolina Entrepreneurship & VC Club, Carolina Women in Business, Consulting Club, Finance Club, Information Technology Club, International Business Club, Investment Society, Marketing Club, Minority Business Student Alliance, Net Impact Undergraduate Club, Out for Business LGBT Club, Real Estate Club, and Undergraduate Business Student Association, as well as two business fraternities, Alpha Kappa Psi and Delta Sigma Pi. Please visit the undergraduate business program Web site for the most up-to-date information on undergraduate business student clubs and organizations.

Global Programs

Global Learning Opportunities in Business Education (GLOBE) is a unique undergraduate business program that works in partnership with Chinese University of Hong Kong, Copenhagen Business School, and the University of North Carolina. Every year 18 students from each school form a cohort of 54 students. They embark on a three-semester program that takes them around the world studying at each university for a semester. The GLOBE program customizes the curriculum based on unique strengths of each region. As a result, students take courses in subjects such as private equity, launching global ventures, marketing in China, and corporate response to European integration, among others.

In addition to the GLOBE program, undergraduates can develop their global perspective through a variety of other academic options: Business Semester Abroad, Global Immersion Electives, Working Languages courses with short-term immersion, a global-related academic minor or second major, and a declared “emphasis area” in international business, which includes completion of global courses offered by the Kenan–Flagler Business School. Given the undergraduate business curriculum, semester programs are best suited for the junior-year spring semester. The undergraduate business program endorses several one-semester study abroad opportunities in Europe and Asia. Global Immersion program locations include such destinations as India, China, United Arab Emirates, and South Africa.

Undergraduate Awards

Each spring the Kenan–Flagler faculty recognizes select students for outstanding academic excellence, leadership, and community service. Beta Gamma Sigma, the national business school honorary, inducts students each spring.

Undergraduate Business Symposium

Since its inception in 1983, the Undergraduate Business Symposium continues to be a flagship event for the undergraduate business program and an annual highlight for the Kenan–Flagler community. It is the largest and longest-running student-organized event of its kind. Each year the event brings together more than 400 undergraduates and 50 executives from a diverse set of industries and organizations from across the country. The Undergraduate Business Symposium provides students with the opportunity to learn about a variety of industries and organizations, the chance to network and interact with business executives and faculty, better insight into the dynamic business landscape, and the opportunity to showcase their analytical, communication, and problem-solving skills.

Contact Information

Undergraduate Business Program, Kenan–Flagler Business School, CB# 3490, 3122 McColl Building, (919) 962-3235, fax (919) 962-6964, ub_helpdesk@unc.edu. Web site: www.kenan-flagler.unc.edu.

BUSI

50 First-Year Seminar: Behind the Scenes: The World through Marketing Eyes (3). In this seminar, we’ll explore our everyday world through a marketer’s eyes. Our goal will be to achieve a real and practical understanding of the basics of marketing, both as a management tool and as a force in our society.

51 First-Year Seminar: Financial Reporting and Analysis (3). This course develops the skills needed to examine and understand company financial reports in order to assess the integrity and objectivity of these reports.

89 First-Year Seminar: Special Topics (3). Special topics course. Content will vary each semester.

101 Management Accounting (4). Elements of accounting for management planning, budgeting, and control. Emphasis is on management uses of accounting information.

105 Financial Accounting SS (3). Pre- or corequisite, ECON 101. Offered in summer school only. UNC–Chapel Hill business majors may not count BUSI 105 toward the B.S.B.A. degree. Role of accounting; basic concepts and methodology; mass data processing; valuation and income determination principles; management and internal control problems; and basic financial statement components.

106 Financial Accounting CS (3). Pre- or corequisite, ECON 101. Offered online by Continuing Studies. UNC–Chapel Hill business majors/minors may not take BUSI 106. Role of accounting, basic concepts and methodology, mass data processing, valuation and income determination principles, management and internal control problems, and basic financial statement components.

107 Management Accounting SS (3). Pre- or corequisite, ECON 310 or 410. Offered in summer school only. May be taken before, after, or concurrently with BUSI 100 or 105. Elements of accounting for management planning, budgeting, and control. Emphasis is on management uses of accounting information.

108 Management Accounting CS (3). Pre- or corequisite, ECON 310 or 410. Offered online by Continuing Studies. UNC–Chapel Hill business majors/minors may not take BUSI 108. May be taken before, after, or concurrently with BUSI 106. Elements of accounting for management planning, budgeting, and control. Emphasis is on management uses of accounting information.

188 Foundations of Leadership: Discovering Your Strengths (1.5). This course introduces the concepts of strengths-based leadership development to help uncover strengths and maximize potential for overall success. Students will learn how to connect these strengths to all areas of life, including, but not limited to, their academic journey as well as their future career path.

189 Introduction to Careers in Business (1.5). This course gives students an overview of the career options in business. This overview provides an understanding of the foundations of business and allows students to reflect on what specific business areas they might want to pursue.

200 Working Spanish for Intermediates (4.5). Minimum level-2 proficiency in Spanish or equivalent required. Course utilizes a unique combination of interactive technology, instructor-led workshops, conversation hours with native speakers, and a required immersion experience in Costa Rica, in order to create culturally sensitive language speakers who can function comfortably and effectively in the Spanish-language workplace.

401 Management and Corporate Communication (3). Open to business majors. Writing- and speaking-intensive course that emphasizes professional communication. Provides opportunities to learn and apply the conventions and expectations for standard business documents and presentations. Features strategies for addressing informative, persuasive, and bad-news messages using a variety of media (print documents, electronic messages, and oral presentations).

403 Operations Management (3). Analysis of the production/operations functions in both manufacturing and service organizations. Developing production policies that support total organizational goals under varying constraints.

404 The Legal and Ethical Environment of Business (1.5). An introduction to the legal system and an examination of ethical issues that affect business.

405 Leading and Managing: An Introduction to Organizational Behavior (3). An introduction to leading and managing in organizations. Examines the impact of individual, group, and organizational factors on organizational performance and employee attitudes. Topics include leadership, perceptions, attitudes, motivation, group development, norms and cohesiveness, empowerment, conflict, negotiations, culture, structure, stress, innovation, and change.

406 Marketing (3). Introduction to marketing with emphasis on the social and economic aspects of distribution, consumer problems, marketing functions and institutions, marketing methods and policies.

407 Financial Accounting and Analysis (3). Students will acquire the tools to understand and analyze information presented in corporate financial statements. Financial accounting results and projected results are utilized in virtually every segment of the business world. Knowledge of financial accounting and analysis is necessary for managers, investors, bankers, financial analysts, and professional accountants.

408 Corporate Finance (3). Prerequisites, BUSI 101 and ECON 410. Theoretical foundations of optimal financial policy. Problems and cases provide application of theory to financial decisions involving cash flow, capital structure, capital budgeting.

409 Advanced Corporate Finance (1.5). Prerequisite, BUSI 408. A follow-up course to BUSI 408 that goes more deeply into the theory and application of financial management. Emphasis is placed on investment, financing, and dividend decisions.

410 Business Analytics (3). Prerequisite, STOR 155. While witnessing an explosion of data, most organizations tend to be awash with data but short on information. This course exposes students to techniques that will help them impact on an organization’s strategy, planning, and operations, working on applications spanning a number of fields, including operations management, finance, and marketing.

411 Strategic Management (1.5). Comprehensive analysis of administrative policy making from a total organizational point of view; use of case analysis and written reports to develop integrative decision skills.

490 Business Topics (1.5). Varied topics in business administration.

493 Business Internship Project I (3). Permission of the department. With prior approval, a student may propose and complete an academic research project (paper and presentation) derived from an internship experience.

496 Independent Study in Business (1.5–3). Permission of the department. Supervised individual study and research in the student’s special field of interest.

500 Entrepreneurship and Business Planning (3). Students gain an understanding of entrepreneurship and the tools and skills necessary to conceive, plan, execute, and scale a successful new venture. Students develop business ventures in teams through an experiential pedagogy.

501 Professional Selling Strategies and Skills (3). Prerequisite, BUSI 406. Processes and techniques for successful sales and marketing in small business start-up companies.

502 Entrepreneurial Finance (1.5). Prerequisite BUSI 408 or 500. In this course students use financial tools and concepts in a real-world entrepreneurial setting. Working in assigned teams, students prepare a pitch book with financial projections for a company they wish to start or buy.

503 Family Business I: Introduction to Family Enterprise (1.5). Helps the student understand the evolutionary stages in the life of a family business and the challenges and opportunities that must be managed at each stage.

504 Launching the Venture (1.5). Prerequisite, BUSI 500. Permission of the instructor. Examines the process for developing and launching a new business venture.

505 Entrepreneurial Consulting (3). Student teams serve as consultants to actual start-ups. The course combines consulting frameworks and opportunity assessment tools, giving students a real-world learning experience working with entrepreneurs.

506 Entrepreneurship: Opportunity Assessment (3). An introduction to the tools and skills necessary to recognize opportunities in high tech, biotech, and traditional start-ups. Local entrepreneurs come to class to pitch to students, who analyze the start-ups from the perspective of venture capitalists.

507 Sustainable Business and Social Entrepreneurship (3). Examines sustainable business and social entrepreneurship. Readings draw from anthropology, ethics, international development, and traditional and nontraditional business practices.

508 Public-Private Development Projects (1.5). Prerequisite, BUSI 408. This course introduces students to challenges and opportunities associated with using public-private partnerships as a vehicle for meeting infrastructure and economic development needs. Students will develop an understanding of how the public and private sectors can have differing perceptions of risk, success, and effectiveness associated with such projects.

512 Family Business II: Governance and Ownership (1.5). Helps the student understand specific ownership, stewardship, tax, transition, and wealth management issues that affect family enterprises.

513 Innovations and Entrepreneurship in Developing Economies (1.5). Covers innovative private sector approaches to alleviating poverty around the world.

514 STAR (4.5). Pre- or corequisite, BUSI 554. Student Teams Achieving Results (STAR) is a live management consulting project that leverages and integrates UNC Kenan–Flagler course curricula. Teams of five to seven M.B.A. and undergraduate students and one faculty member work with major corporations or not-for-profit entities to solve a major strategic issue.

515 Social Entrepreneurship through Microfinance (1.5). Analyzes the role of microcredit/microfinance in global sustainable development. Students will be creating, organizing, and facilitating a sustainable microfinance initiative of their own design.

516 Private Equity for Entrepreneurs (3). Restricted to students in the GLOBE program. This course will examine all sources of private capital available to those wishing to start a business, buy a business, or refinance a business.

517 Private Equity and Debt Markets (1.5). Prerequisite, BUSI 408. The objective of this course is to examine the changing world of private equity investments today. This is a survey course and will help prepare you to work for private equity and venture capital funds or to work for investment banks.

518 Applied Private Equity (3). Prerequisites, BUSI 502 and 517. Permission of the instructor. Explores, at a very advanced level, all stages of the management of a venture capital and private equity fund, from capital formation, deal sourcing, due diligence, monitoring and adding value, and exiting of a portfolio company.

519 STAR—Global Business Projects (4.5). A global, live management consulting project that integrates other curricula and students (UNC and beyond). Teams of graduate and undergraduate students and one faculty member work to solve a major strategic issue. Team members participate in a three-day training weekend, virtual teaming, and two weeks of in-country project work.

520 Advanced Spreadsheet Modeling for Business (3). Fundamental understanding of Excel required. Use critical thinking and advanced Excel features to create spreadsheet models of common and complex business problems. Topics include flexible design and problem-solving, statistical analysis, charting, logic, retrieving data, evaluating financial decisions, organizing data for analysis, what-if analyses, enhanced decision-making tools, troubleshooting workbooks and VBA.

524 Applied Improvisation for Business Communication (3). Focuses on improving students’ soft skills, such as presenting, expressiveness, and interviewing, by applying the principles and techniques of improvisational theater. Participants explore creativity, adaptation, awareness, self-confidence, risk taking, physicality, intuition, and teamwork. Students can stretch their abilities and discover things about themselves and others that are crucial to success.

525 Advanced Business Presentations (1.5). Prerequisite, BUSI 401. This course is grounded in argument, persuasion, and visual rhetoric to give students skills needed to develop winning presentations. Students learn strategies to help their messages “stick” with their audiences and to develop slide decks for the boardroom and advanced media devices. The course emphasizes efficiency in presentation preparation.

526 Leadership in Action (3). Permission of the department. Provides student leaders with practical leadership frameworks and tools; creates opportunities to apply these on the job as leaders; and provides individualized coaching, feedback, and mentoring. This is an applied learning course taught by a seasoned practitioner designed to accelerate each student’s development and growth.

532 Service Operations (3).Prerequisite, BUSI 403. Studies key challenges in effective service delivery through the analysis of staffing and scheduling, customer waiting, and revenue management. Case studies illustrate examples of effective service design and delivery in various service industries including professional services, banking, health care, hospitality, and entertainment. A simulation project is used.

533 Supply Chain Management (3).Prerequisite, BUSI 403. Analyzes the key drivers of supply chain performance including inventories, transportation, information technology, and sourcing. Studies strategies for supply chain coordination, and challenges and opportunities in global supply chains. A supply chain simulation is used.

534 Business Modeling with Excel (3). Provides a broad scope of analytic experience across corporate functions that is beneficial in consulting environments.

535 Global Operations Strategy (1.5). Prerequisite, BUSI 403. Permission of the department. This course examines how organizations can use their operations to build a competitive advantage. Students may not receive credit for both BUSI 535 and MBA 709A.

536 Project Management (1.5). Prerequisite, BUSI 403. Permission of the department. This course prepares students to take part in and lead projects effectively. The goal is to equip individuals across any career concentration rather than extend the expertise of project-management specialists. Students may not receive credit for both BUSI 536 and MBA 710.

537 Retail Operations (1.5). Prerequisite, BUSI 403. Permission of the department. Examines developments in retailing and operations management principles applicable to these developments. Topics: consumer behavior, demand forecasting, logistics and distribution, store execution, international retailing, Internet-based retailing, performance assessment, and impact on financial performance. Students may not receive credit for both BUSI 537 and MBA 708.

538 Sustainable Operations (1.5). Prerequisite, BUSI 403. This course explores the link between sustainability and the operations function of a firm. The course focuses on the following activities: product and process design; manufacturing; transportation; logistics and distribution; closed-loop/after-sales operations such as recycling, remanufacturing, and reuse; supply chain management.

541 Contract and Commercial Law (3). Designed to give basic instruction in law with special emphasis upon its relationship with business. Content includes many subjects tested on the business law portion of the CPA examination, including the law of contracts and the Uniform Commercial Code (sales, negotiable instruments, and secured transactions).

543 Ethics in Management (3). By examining real ethical dilemmas in business, this course will help students analyze a problem from the triple perspective of ethics, economics, and law.

545 Negotiations (1.5). Prerequisite, BUSI 405. This course enables students to develop their expertise in managing negotiations. It integrates existing theory and research with personal experiences and ideas. Using hands-on exercises, readings, and lively discussions, students build and hone their ability to understand, adapt to, and evaluate the personal, social, and situational dynamics of negotiations.

550 Introduction to Organization Theory and Design (3). Prerequisite, BUSI 405. While BUSI 405 examines the micro-level influences on organizational success, this course focuses on more macro-level influences, including environmental analysis, strategy, structure, inter-organizational relationships, control systems, culture, power, politics, and change.

551 Human Capital (3). Prerequisite, BUSI 405. Problems, policies, and procedures in the management of personnel, including topics such as staffing, performance appraisal, training, compensation, benefits and services, safety and health, equal employment, discipline, justice.

553 Organizational Effectiveness (3). Prerequisite, BUSI 405. How organizations articulate and measure earning market share and how they link their differentiating factors to the unique abilities and behaviors of their workforce.

554 Consulting Skills and Frameworks (3). Pre- or corequisite, BUSI 408. Permission of the instructor. The course is dedicated to teaching the core skills for success in consulting and business in general: teamwork, analysis, and presentations.

555 Groups and Teams in Organizations (1.5). Examines the design, management, and leadership of teams in organizational settings. Focus is on the interpersonal processes and structural characteristics that influence the effectiveness of teams, individual behavior in face-to-face interactions, and the dynamics of interpersonal relationships.

559 New Product Marketing (1.5). Prerequisite, BUSI 406. This course provides students a thorough understanding and working knowledge of state-of-the-art tools that drive marketing strategies for launching and managing new products.

560 Advertising (3). Prerequisite, BUSI 406. The organization and functions of advertising. Topics include economic and social aspects, types of advertising and advertising objectives, developing advertising messages, media selection and evaluation, advertising research.

561 Sales Management (3). Prerequisite, BUSI 406. An overview of the sales management process, including sales force planning, budgeting, recruiting, selection, training, compensation, supervision, and control.

562 Consumer Behavior (3). Prerequisite, BUSI 406. Review of conceptual models and empirical research in consumer behavior. Topics include decision processes, social and cultural influences, information processing, and ethical issues.

563 Retailing and Distribution Channels (3). Prerequisite, BUSI 406. Examines the supply chain for retail businesses and management decision making in retailing.

564 New Product Development (3). Prerequisite, BUSI 406. The course explores the design and development of new products. Key topics include creativity, design thinking, and the innovation process.

565 Marketing Research (3). Prerequisite, BUSI 406. An introduction to research methodology with emphasis on the compilation, analysis, and interpretation of data used in the planning and control of marketing operations.

566 Marketing Strategy (3). Prerequisite, BUSI 406. The objective of this course is to understand and practice the strategic decision-making process in a dynamic competitive environment. The course builds on the foundations of marketing, and is based on lectures, cases, and computer simulations.

568 Marketing Analysis and Decision Making (3). Prerequisites, BUSI 406 and 410. Marketing analytics is a systematic approach to harnessing these data to drive effective marketing decision making. We will learn to analyze historical data, market research data, and competitive information for making strategic marketing decisions. This course will be extensively based on case analysis and hands-on exercises.

570 Financial Reporting A (3). Permission of the department. Required in spring semester for senior undergraduate business majors who are admitted to the Kenan–Flagler Master of Accounting Program. The first of two courses designed to provide students with an in-depth knowledge of the practice and theory of financial accounting.

572 Introduction to Business Taxation (1.5). Prerequisite, BUSI 570. Permission of the department. Required in spring semester for senior B.S.B.A.s who are admitted to the Kenan–Flagler Master of Accounting Program. Provides students with an initial understanding of the basic framework of the United States income tax system as it applies to businesses.

573 Global Financial Statement Analysis (3). Prerequisite, BUSI 407. Provides the tools necessary to understand and analyze information in financial statements prepared under global accounting standards. Includes a study of the costs, risks, and opportunities of United States investors and corporations regarding the convergence of United States accounting standards to global standards.

580 Investments (3). Prerequisite, BUSI 408. A survey of investment principles and practices. Emphasis is given to the problems of security analysis and portfolio management with special attention to the investment problems of the individual investor.

582 Mergers and Acquisitions (3). Prerequisite, BUSI 408. Through lectures, case studies, and guest speakers, this course will cover all aspects of mergers and acquisitions from strategy to post-merger integration with an emphasis on valuation. Related activities such as hostile takeovers, private equity deals, and international acquisitions will also be discussed.

583 Applied Investment Management (3). Prerequisite, BUSI 408. Yearlong course. Students are registered in three credits in fall and spring. Emphasis of this course is on the decisions that must be made by, and/or for, the ultimate investor, and the analytic tools and empirical evidence that can help inform such decisions.

584 Financial Modeling (3). Prerequisite, BUSI 408. Skill development in constructing financial models for analyzing problems with decisions faced by financial professionals. Analyzing historical performance, forecasting free cash flows, estimating discount rates, determining terminal value, identifying other sources of value, and interpreting results in a dynamic setting.

585 Introduction to Real Estate (3). An overview of residential and commercial real estate markets. The course samples many facets of real estate development, market analysis, operation, valuation and financing. Students will be exposed to the variety of skills and jobs that interact within the industry.

586 Introduction to Real Property (3). Prerequisite, BUSI 408. An introduction to the social, political, economic, and investment aspects of real property.

587 Investment Banking (1.5). Permission of the instructor and confirmed offer of investment banking analyst internship or full-time job. This course prepares students for investment banking positions and internships. The focus of the class is on financial modeling, general knowledge of banking, and what it takes to succeed in the industry.

588 Introduction to Derivative Securities and Risk Management (1.5). Prerequisite, BUSI 408. Introduction to derivative securities instruments (options, futures, and swaps) and applications to the management of stock and fixed-income portfolios and other financial and business risks.

589 Fixed Income (1.5). Prerequisite, BUSI 408. The course covers traditional bonds and term structure concepts as well as fixed income derivatives and interest rate modeling.

590 Business Seminar (3). Completion of requisite core course(s) and permission of the instructor required. Selected topics in business administration presented in seminar format with students engaged in individual and team study under the supervision of a member of the faculty.

591 Quantitative Methods for Investments (3). Prerequisite, BUSI 408. Course focus is on portfolio analysis and volatility modeling and the use of statistical distributions and regression, forecasting, and simulation applications in finance.

592 Quantitative Methods for Derivative Securities (3). The goal of the course is that students will be self-starters in derivative security analysis and modeling, and generally familiar with methods for valuing fixed income securities.

594 Hedge Fund Strategies (1.5). Prerequisites, BUSI 408, and 580 or 588. Permission of the instructor. Open to seniors only. Covers the operational details of specific hedge fund strategies such as convertible arbitrage and long/short equity strategies.

598 Alternative Investments (1.5). Prerequisites, BUSI 408, and 580 or 588. Permission of the instructor. Open to seniors only. Exposes students to the benefits, opportunities, and risks of incorporating alternative investments into managed institutional investment portfolios, including pension funds, endowments, and foundations.

600 Risk Management (1.5). Prerequisite, BUSI 408. Permission of the instructor. Open to seniors only. Develops methods for applied analysis of financial and operational risk.

601 Real Estate Finance (1.5). Prerequisite, BUSI 408. This course will focus on the different ways to finance real estate property, and how different financing techniques impact the feasibility and investment benefits for equity investors.

602 Strategic Economics (1.5). Corequisite, BUSI 408. This course focuses on decision making in the presence of strategic interaction. Students will apply game theory to yield insights into business decisions. Topics covered include pricing, entry, product market competition, first-mover advantage, capital budgeting, antitrust law, corporate governance, auctions, and mergers.

603 Real Estate Development (1.5). This course is designed to introduce undergraduate students to the finance and economics of real estate development. The course will survey the physical products of real estate, its financial attributes, and the process by which a program of development is implemented. Includes site visits to local real estate projects.

604 Real Estate Capital Markets (1.5). Prerequisite, BUSI 408. This course focuses on the techniques used to analyze, finance, and structure real estate transactions, and analyzes the role of the capital markets in facilitating development and investment in real estate.

610 Global Environment of Business (3).Issues in operating overseas, including analyses of differences in country settings, legal and economic systems, and governmental policies affecting foreign operations. Studies trade theory, country groupings, and financial issues; managing operations in foreign lands; exporting.

611 International Development (1.5). Examines global poverty from the proposition that nations are poor because their markets do not work. Issues include doing business in an emerging economy and policies to reduce global poverty.

617 Global Marketing (3). Prerequisite, BUSI 406. Examination of the problems involved in marketing products and services across national boundaries. Problem issues include culture, ideology, economics, technical standards, and currency movements.

618 Global Financial Markets (1.5). Prerequisite, BUSI 408. Develops the foundation for financial decisions in a global economic environment. Extends the analytical concepts and tools learned in introductory investment and corporate finance courses to multicountry/multicurrency settings. Covers three major areas: the economics of exchange rates, international money and capital markets, and international corporate finance.

622 Managing Global Operations (3). Prerequisite, BUSI 403. Topics range from expanding overseas to managing a global enterprise, including service, manufacturing, and not-for-profit organizations.

623 Global Venturing (3). Examines developing business models that operate locally but compete globally. Restricted to GLOBE students.

650 Symposium Core Committee (1.5–3). Permission of the instructor. Service on the B.S.B.A. Symposium Core Committee to plan, execute, and evaluate the annual event.

688 Applied Derivatives (1.5). Prerequisites, BUSI 408 and 588. Real world applications of the concepts of no-arbitrage pricing covered in the introductory course will be covered. Other applications of derivatives such as portfolio insurance, the consideration of debt and equity as options, and real options.

691H Honors Research Proposal (3). Permission of the department. Open to senior business administration majors with 3.5 minimum cumulative grade average. Students learn business research techniques and develop individual proposals for business research. Successful proposals may advance to honors thesis research and writing (BUSI 692H).

692H Honors Thesis (3). Prerequisite, BUSI 691H. Permission of the department. Restricted to senior B.S.B.A.s with a 3.5 cumulative grade point average. Original investigation of a topic in business and preparation of a substantive research project under the direction of a faculty advisor. A written essay and an oral presentation are required.

693 Business Internship Project II (3). Permission of the department. This course provides students with a format for reflection while performing a professional internship that enhances their ability to achieve career objectives.