Commerce and Business

ASSOCIATE PROFESSORS

Dee Birnbaum. 1991. B.A., State University of New York at Stony Brook; M.B.A., Baruch College; M.Phil. and Ph.D., City University of New York. (General management, human resource management.)
Pamela H. Church. 1988. Director, M.S. in Accounting Program. B.S. and M.S., University of Memphis; Ph.D., University of Houston. CPA. (Accountancy.)
John M. Planchon. 1986. Chair. A.B. and M.A., University of Missouri, Columbia; Ph.D., University of Alabama. (Marketing, marketing management, promotion, business policy.)

ASSISTANT PROFESSORS

Stephanie D. Moussalli. 2010. B.S., University of Oregon; B.A., B.S., M.A., Master of Public Administration, University of West Florida; Ph.D., University of Mississippi. (Accountancy.)
Steven A. Samaras. 2010. B.B.A., Loyola University of Chicago; M.B.A., Northern Illinois University; Ph.D., University of Nebraska. CPA. (International business, business policy.)

PART-TIME ASSISTANT PROFESSOR

Milton L. Lovell. 2003. B.S., J.D., University of Mississippi. LL.M., New York University School of Law. CFO and General Counsel, nexAir, LLC. (Accountancy, taxation.)

INSTRUCTOR

Ferron Thompson. 2001. B.A., Vanderbilt University; M.S. University of Memphis. CPA. (Accountancy.)

PART-TIME INSTRUCTORS

Chris Nunn. 2010. B.A., M.S., Rhodes College. Chief Financial Officer, Security Bancorp of Tennessee, Inc. (Accountancy.)

STAFF

Richard L. Fisher. 2008. Executive in Residence. B.S. and M.S., University of Virginia. CPA, CFP, ChFC, PFS, CMA, CIA, CFE. (Career planning /professional development, personal finance.)
Linda Gibson. 2006. Departmental Assistant. B.A., Vanderbilt University; M.L.S., George Peabody College.

The Department of Commerce and Business offers a major in Commerce and Business. There are two tracks within the Commerce and Business major: General Commerce and Business and International Business. In addition, an Interdisciplinary major is offered in Economics/Commerce and Business.

Master of Science in Accounting. A more concentrated study of accounting may be undertaken in the M.S. in Accounting Program offered by the Department of Commerce and Business. Students who have completed an undergraduate degree in the Department of Commerce and Business and/or have taken the appropriate accounting courses can finish the requirements of the M.S. in Accounting degree in two additional semesters of study. For a complete listing of courses and degree requirements in the M.S. in Accounting program, see the section on Master of Science in Accounting and meet with the Program Director, Professor Pamela Church.

REQUIREMENTS FOR A MAJOR IN COMMERCE AND BUSINESS

General Commerce and Business Track
A total of forty-eight (48) credits as follows:

1. Business 241, 243, 351, 361 or 362, 371, 486.
2. Economics 100.
3. Economics 290 or Math 111.
4. Math 115 or 121.
5. Two courses from one of the following areas and one course from one of the remaining areas:
   • Accounting: Business 341, 342.
   • Finance: Business 452, 454, 485.
   • Management: Business 463, 466.
   • Marketing: Business 472, 473, 485.
   • Business 483.
6. Recommended: Business 246, 261, 460; Mathematics 107; Philosophy 304; Political Science 218; Interdisciplinary 240.

International Business Track
A total of forty-eight (48) credits as follows:

1. Business 241, 243, 351, 361 or 362, 371, 486.
2. Economics 100.
3. Economics 290 or Math 111.
4. Math 115 or 121.
5. Three courses from: Business 454, 463, 473, 483; Economics 310.
6. Foreign Language proficiency in or completion of course of study in a foreign language through the second full year at the college level.
7. Recommended: Business 261, 246, 460; Mathematics 107; Philosophy 304; Political Science 218, Interdisciplinary 240.

REQUIREMENTS FOR A MINOR IN COMMERCE AND BUSINESS

A total of twenty (28) credit hours as follows:

1. Business 241, 243, 351, 361 or 362, 371.
2. Economics 100.
3. Economics 290 or Math 111.

HONORS IN COMMERCE AND BUSINESS

1. Meet requirements for a major in Commerce and Business.
2. Business 495-496.
3. A substantial research paper in an area of special interest to the candidate.
4. An oral examination on the research paper.

All honors students must meet eligibility criteria established for the Honors Program.

COURSE OFFERINGS

The business course numbers indicate the particular area: 40s-accounting and related areas, 50s-finance, 60s-management, and 70s-marketing.

120. Introduction to International Business.
Fall. Credits: 4.
Successful global businesses are effective at adapting to the diverse environments that surround and define their organizations’ operations. This course explores through multiple lenses and voices, the differences and complications that arise when business activities cross political and cultural borders. Students will be provided with an introductory look at how the different functional areas of business, as well as related professions, are impacted by international issues. During the course, students will examine the synergies that might be attained by linking business models with an improved understanding of geographic, sociocultural, political, legal, ethical, and ecological considerations. Class discussions related to course concepts, actual events, hypothetical situations, and short case studies will be the primary method of engagement in this course. Teams of students will be required to analyze complex international scenarios and make appropriate recommendations in a thorough report and formal presentation. This course is open to all majors.

125. Introduction to Entrepreneurship.
Fall. Credits: 4.
This course introduces student of diverse majors to an alternative future where they may achieve financial independence and security for themselves; while also contributing to the economic well-being of the community. Students will explore start-up and small business issues and develop some of the skills needed to: evaluate the potential for success of ideas; determine resources needed and methods to acquire them; communicate those ideas in a convincing manner; implement ideas into a working enterprise; understand and deal with pitfalls; and manage and grow the resulting enterprise. Rhodes College is an incubator of ideas where students have been instilled with a passion for their major fields while building a level of expertise in them. This course will enable students to look at their diverse expertise and passions through the different perspective of turning ideas into enterprises. Class discussions will be exploratory in nature; introducing a number of business skills needed by entrepreneurs. Students will make several presentations of their venture ideas, write and present feasibility studies/business plans, and discuss small business and start-up firm cases. There may also be some participation in the course by the entrepreneurial community. This course is open to students of all majors.

241. Financial Accounting.
Fall, Spring. Credits: 4.
Principles of financial accounting that are used to communicate financial information to external parties. The study of financial accounting provides a strong foundation for future courses in business and finance. The student is introduced to accounting concepts, how to record transactions for the three legal forms of business organizations, and how to prepare financial statements.

243. Cost Accounting.
Fall, Spring. Credits: 4.
Analysis of cost accounting techniques and applications relative to managerial planning, control, and decision-making. Topics include measurement of unit costs, control of operating costs, incremental decision-making, production cost reports, cost variances, and profit planning. Computer spreadsheets and cases are used to analyze cost accounting data and to simulate managerial accounting decisions.
Prerequisites: Business 241.

246. Law of Basic Commercial Transactions.
Fall or Spring. Credits: 4.
Introduction to legal concepts in those areas of the law essential to commercial transactions, including creation and performance of contracts for the sale of goods and other property, negotiable instruments, real and personal property, leases, and wills and estates. The course will be taught largely utilizing the case method and problem approach, with an emphasis on how legal concepts are applied to specific factual situations.

261. Business Ethics.
Fall or Spring. Credits: 4.
Topics covered in this course include: ethical theory, gender and diversity issues, worker safety, international business ethics, regulation, insider trading, product safety, labor conflict and strikes, and a number of others that are either programmed or raised by students. Students will be called upon to understand and apply philosophical, economic and sociological concepts related to ethical reasoning and argument to business decision-making and conduct. Case material, videos, class discussion, and student presentations will be used to supplement readings.

265. Topics in Business.
Fall, Spring. Credits: 1-4.
Content of the course varies with instructor. The course may be repeated for credit as long as topics covered are different.
Prerequisites: Economics 100 and permission of the instructor.

280. Personal Financial Management.
Fall, Spring. Credits: 4.
This course focuses on the development of a working knowledge of basic tools that guide the student in the acquisition of sound personal financial discipline at the individual level. The course approaches this objective assuming that the student has little or no background in the issues or tools relating to the management of one’s financial resources, with a focus on the development and appropriate implementation of a personal budget; the management of individual credit exposure and issues surrounding the borrowing and repayment of money; an analysis of investment alternatives and vehicles, and risks typically associated therewith; the impact of personal income taxes on decision making where multiple financial alternatives exist. Particular nuances of stock, bond, mutual fund, and ETF investment alternatives are explored, as well as the structural aspects of tax-deferred savings opportunities (including 401(K) and IRA vehicles). The protection of wealth through the use of insurance and other risk management techniques is also emphasized. The course is available to all majors.
Prerequisites: Not open to first-year students or to Commerce and Business or Economics/ Commerce and Business majors.

281. Consulting Experience in Egypt.
Maymester. Credits: 4.
Degree Requirements: F9, F11.
This course offers an intensive study of Egyptian culture and an opportunity for students to apply the skills and knowledge in their economics and business courses to a business in Cairo, Egypt. The students will meet with the business owner, observe company operations and prepare and present an analysis of the company and recommendations for improvement. The students will learn about Egyptian culture through assigned readings, touring cultural and archaeological sites and meeting with local experts in culture, business and development. Through their combined experiences of consulting and studying culture, they will learn about the way that Egyptian culture shapes local business practices. By application and acceptance into the program only.
Prerequisites: Economics 100 or International Studies 100; and permission of the instructor.

283. Introduction to International Business Cases.
Maymester. Credits: 4.
Degree Requirements: F11. (F9 when taken concurrently with RELS 258 on Belgium Maymester.)
Course is a combination of lectures, case discussion, and site visits. Lectures by Rhodes and University of Antwerp faculty as well as European Union officials on international business including strategy, finance, marketing and management within the context of the European Union will form the basis for class discussion of business cases. Following work on business cases, students will visit business sites for discussion of the businesses’ strategies and performances with firm officials. The course is offered in Antwerp, Belgium. Cases and site visits will vary from year to year. Business 283 is not open to students who have completed any prerequisites for Business 483. By application and acceptance to the program only. (Same as International Studies 283.)
Prerequisites: Economics 100 if taken as International Studies 283.

300. Career Focus.
Spring/Fall. Credits: 1. (Pass/Fail)
Open only to Commerce and Business majors and sophomore students fully intending to declare a major In Commerce and Business. The course focuses on assignments that will assist in focusing on career direction and choice. Course requirements include producing a resume and mandatory attendance at specified guest speaker lectures. The resume and lecture attendance may be used as the required essay for major declaration.
Prerequisites: Permission of the instructor and sophomore, junior, or senior status. Students who have completed BUS 260, 360 or 460 may not enroll.

341. Intermediate Accounting Theory I.
Fall. Credits: 4.
Accounting theory, from both the theoretical and practical viewpoints. Covers the foundation of accounting theory, the accounting and reporting process, and the impact of the recent pronouncements from FASB, AICPA, AAA, and SEC.
Prerequisites: Economics 100 and Business 241. Business 243 recommended.

342. Intermediate Accounting Theory II.
Spring. Credits: 4.
Accounting theory, from both the theoretical and practical viewpoints. Covers the foundation of accounting theory, the accounting and reporting process, and the impact of the recent pronouncements from FASB, AICPA, AAA, and SEC.
Prerequisites: Business 341.

345. Federal Income Tax.
Fall. Credits: 4.
An introduction to the principles of taxation applicable to individuals and businesses, including determination of income, deductions, exemptions, capital gains and losses, depreciation, employee expenses, alternative minimum tax, and property transactions. The course emphasizes taxation of individuals, but introduces corporate and partnership taxation as well. Coverage includes the theory and purpose of taxation, the impact of taxes on management decisions, and the evolution of the tax system over time. A computer tax service and a computer tax preparation program are utilized for tax research and simulation of financial decisions involving complex tax issues.
Prerequisites: Economics 100 and Business 241.

351. Corporate Financial Management.
Fall, Spring. Credits: 4.
The main objectives of the financial manager are to plan for, acquire, and use funds in an efficient manner in order to maximize the value of the firm. This course introduces the discounted cash flow model, modern portfolio theory, the capital asset pricing model, and the static theory of capital structure. Major topics covered include decisionmaking under uncertainty, cost of capital and valuation, history of capital markets, and financial analysis. Students are introduced to computerized financial spreadsheets, case studies, and contemporary financial issues.
Prerequisites: Economics 100; Economics 290 or Math 111; Business 243.

361. Management of Organizations.
Fall, Spring. Credits: 4.
Focuses on evidence-based management to separate useful from useless management practices. Initially, the course Introduces scientific principles as an analytic framework for evaluating management theories about people at work, especially theories about work motivation, leadership and job design. Later, the course focus shifts to the topic of organizational design. This subject identifies structures and mechanisms for managing the ever-changing environments organizations face. Students acquire experiences in applying scientific analyses to real-world situations by analyzing cases and through research projects.
Prerequisites: Economics 100, and Economics 290, Math 111 or Psychology 211.

362. Strategic Management of the Firm.
Fall. Credits: 4.
This course will focus on the development of long term plans – strategies – within the context of business organizations. Such plans, by the nature of the business environment, must be solid enough to provide a unified sense of direction for all stakeholders while containing sufficient flexibility to allow the firm to adapt to the dynamic forces acting upon it. Students will explore the development of the field of strategic management in terms of its historical development and its major theoretical underpinnings. Students will be introduced to methods used to gather and analyze strategic information, and will explore the development of strategic plans—including implementation issues, measurement of strategy performance, and importance of contingency plans. The course will consist of lectures, discussion sessions, student presentations, and short case studies to illustrate the practical application of the concepts.
Prerequisites: Economics 100 and Business 241.

371. Marketing Management I.
Fall, Spring. Credits: 4.
An introduction to the study of marketing as an exchange process: the theoretical underpinnings of how transactions in the marketplace are initiated, motivated, facilitated, and consummated. Topics include the basic role marketing plays in the economy; the ways marketing is planned and executed; students gain experience in applying marketing theory by competing in a computer simulation.
Prerequisites: Economics 100 and Business 243.

448. Auditing.
Spring. Credits: 4.
Conceptual approach to auditing process, procedures, communications and professional environment which includes auditing standards, legal responsibilities and professional ethics.
Prerequisites:Business 341 and 342.

452. Cases in Managerial Finance.
Credits: 4.
Application of financial theories introduced in Financial Management (Business 351) to actual business problems using quantitative and qualitative techniques. Presented with debatable alternatives, students analyze, choose, and defend their ideas and a course of action. Financial theories are reexamined in conjunction with their related cases. Case topics include financing current operations, long-term financing, investment decisions, signaling with dividend and debt policies, and mergers and acquisitions. Contemporary corporate financial issues are examined, as well as financial ethics. Extensive creation of computerized financial spreadsheets. Students are organized into teams for case preparation.
Prerequisites: Business 351.

454. International Financial Management.
Credits: 4.
Introduction to the environment of international financial management, including the international monetary system, balance of payments, and parity conditions in the foreign exchange market. Presentation of foreign exchange markets, international investment analysis, international capital markets and derivatives, using concepts learned in Business 351: the efficient market hypothesis, discounted cash flow analysis, modern portfolio theory, and static capital structure theory. Students are also exposed to financial engineering and option theory in order to understand foreign exchange forward and futures contracts and foreign exchange options, which are important hedging securities. Case studies included. Use of computerized spreadsheet required.
Prerequisites: Business 351.

460. Internship/Professional Development.
Fall, Spring. Credits: 4.
Degree Requirements: F11.
Open only to Commerce and Business majors, the internship program provides an experiential approach to the learning process and affords students the opportunity to work in both business and nonprofit organizations for academic credit. Internship placements are designed to complement learning goals and career plans by allowing the student to apply theoretical principles learned in the traditional classroom. Placements are arranged by the Director of Career Services and work schedules are arranged by the student and the on-site supervisor. Typically students work on specific projects related to their career interests and compatible with the goals and interests of the sponsoring organization. A major focus of the course is teaching students better interview skills and how to improve their written and verbal communication techniques all within a context of the student becoming more professional as he/she approaches obtaining a job, and how better to conduct themselves on the job. Internships are available to junior and senior Commerce and Business majors. Arrangements for internships are made the semester prior to the actual experience. No more than 8 internship credits may be allowed to count toward the credits required for graduation.
Prerequisites: Courses in accounting, finance, management or marketing appropriate to the specific internship experience.

461. Internships.
Fall, Spring. Summer. Credits: 1 (Pass/Fail)
This internship course provides an experiential approach to the learning process and affords Commerce and Business students the opportunity to work in both business and nonprofit organizations for academic credit. Students are encouraged to explore areas of possible career interest through internships. Students must have the approval of and coordinate with a designated Professor in The Department of Commerce and Business on an internship that exposes the student to meaningful aspects of a career in business. The Career Services Office will also coordinate the internship choice. There are requirements for both the sponsoring organization and for the student. The student must submit a resume, an application, have an interview arranged an interview with the on-site supervisor, and prepare an essay summarizing the experience, all as directed by the supervising Professor. This internship program is limited to Commerce and Business majors and is available only for non-paid internships. Course may be repeated for credit, but no more than eight credits may be counted toward graduation.
Prerequisite: Business 460 or permission of instructor; Sophomore, Junior, or Senior status.

463. International Management.
Fall. Credits: 4.
Explores the application of management models to international business decisions in the areas of work design, organizational structure, strategic planning and human resource/personnel management. The focus is on the usefulness of contemporary models across diverse cultural settings as indicated by recent empirical research.
Prerequisites: Business 361 or Business 362.

465. Advanced Topics in Business.
Fall, Spring. Credits: 4.
Content of course varies with instructor. The course may be repeated as long as topics covered are different.
Prerequisites: Vary with course; permission of instructor.

466. Personnel and Human Resource Management.
Spring. Credits: 4.
An introduction to the functions of personnel/human resource management. Topics covered include human resource planning, training and development, wage and salary administration, selection instrument validation, employee performance evaluation, and employee relations. Special attention is given to the use of information systems for managing personnel functions. A computer/library project that focuses on the relationship between work attitudes and work behavior is required.
Prerequisites: Business 361 or 362 and Economics 290, Psychology 211, or Math 111.

472. Cases in Market Strategy and Value Analysis.
Fall. Credits: 4
Focus is on the management of the marketing process in order to develop effective strategies to create consumer value and on the components of market and environmental analysis: customer and competitor, industry, government, and the business itself. Through the use of case studies and computer application, attention is given to the development of an analytical structure for determining acceptable marketing strategies and their financial value.
Prerequisites: Economics 290 or Math 111; Business 243 and 371.

473. International Marketing.
Spring. Credits: 4.
An introduction to the global marketing environment, with an examination of how international business variables affect the marketing process. Objectives include understanding the differences between domestic and international marketing, providing a framework for analyzing major risks and opportunities in foreign markets, and developing techniques for preparing and implementing strategic marketing plans through the use of case studies.
Prerequisites: Business 371.

483. Advanced International Business Cases.
Maymester. Credits: 4.
Degree Requirements: F11 and F9 (F9 granted when taken concurrently with RELS 258).
The course is a combination of lectures, case analyses, and site visits. Lectures by Rhodes and University of Antwerp faculty as well as European Union officials on international business including strategy, finance, marketing and management within the context of the European Union will form the basis for written case analyses and oral presentations. Following case completion, students will visit business sites for discussion of the businesses’ strategies and performances with firm officials. Students enrolled in this course will be required to complete detailed and sophisticated case analyses drawing upon prerequisite course work as well as course lectures. The course is offered in Antwerp, Belgium. Cases and site visits will vary from year to year. BUS 483 may be used as one of the two required electives for a business or economics/business major. By application and acceptance to the program only.
Prerequisites: One of the following: Business 351, 361 or 362, 371.

485. Cases in Asset Valuation and Business Strategy.
Spring. Credits: 8.
The purpose of the course is to gain insight into how financial and strategic decisions are interrelated and how careful analyses should lead to maximizing shareholders’ wealth and creating sustainable competitive advantages. Cases are used to move beyond mere description and analysis, and toward normative thinking and decision-making, as well as growth in judgment. There will be a consistent focus on valuation modeling and economic analysis as a foundation for corporate financial decision-making. Students will acquire proficiency in analytical techniques to make financial and strategic decisions and will develop skills of working together in groups to attain a common goal. There will also be an emphasis on writing in a logical and persuasive manner and on presenting recommendations orally along with PowerPoint slides created by the students. Open to juniors; open to seniors with permission of instructor.
Business 485 (8 credits) will fulfill both Business 452 and 472, wherever they are listed as requirements for a major.
Prerequisites: Business 351 and 371.

486. Senior Seminar in Business.
Spring. Credits: 4.
A study of the theory and practice of setting and administering business policy, this course integrates the student’s previous study of economics and business. Emphasis is on appraising a company’s performance and strategy considering general social and economic conditions, as well as the internal conditions of the firm; developing objectives, policies and plans; and developing, guiding, and maintaining an administrative organization to carry out the plans and meet the objectives. Pedagogy includes computerized case studies in business and team teaching. Students are organized Into teams for case preparation and presentation, and will be required to present their analyses orally and in writing and to respond to analyses of other students.
Prerequisites: Senior Status; Business 243, 351, 361 or 362 and 371; completion of at least two of the upper level business electives from two different areas as required for a major in commerce and business; or permission of the Department Chair.