Introduction to Business (BUSI 103) - Syllabus, AY 2027-1

Course information

Required course pack: https://hbsp.harvard.edu/import/1443710
Course site: Blackboard - log in at oberview.oberlin.edu and open Courses
Class meeting time: Tuesdays and Thursdays 9:30 - 10:45
Class room: Science Center A, Room SCTR-A162

Course instructor information

Course director: Eric Lin
Office: Bosworth Hall, Room 201B
Oberlin E-Mail: eric.lin@oberlin.edu
Office hours: Thursdays, 11:15 am - 1:00 pm (Zoom or Bosworth Hall, Room 201B)
Book a slot by appointment

Overview

This is not a terminology course. It is not designed to merely acquaint you with vocabulary. The most interesting part of business is not about propositional knowledge, but applications.

This course introduces students to the key concepts of business decision-making, focusing on business models, operating economics, marketing, and sales. Students will explore foundational topics such as relevant costs, segmentation, and customer lifetime value, and investment analysis.

This course provides a pragmatic foundation for understanding how business leaders make decisions.

Prerequisites

There are no course prerequisites for this course. We will be using computations and data to solve problems, which requires only fundamentals of algebra and arithmetic. Get in touch with me if you have any concerns either the techniques we are using or with the technology we are using. Most of the work we do can be worked out using either pencil and paper, or with the aid of basic functions in a spreadsheet package like Microsoft Excel or Google Sheets. You are never required to use spreadsheets to make calculations - it is fine to set up manual calculations for this class.

What Makes This Course Different

Engaged applications

This course is built around the belief that business understanding is not just about knowing frameworks or formulas — it’s about applying judgment in messy, real-world contexts.

Some concepts may seem intuitive or mathematically simple. But the challenge is in the application. Business is contextual. It requires nuance, and most of all, it requires fluency — the ability to think, speak, and argue about ideas clearly and in real time.

To support this, the course includes:

• Culture of challenge: You’re expected to contribute more than facts — bring a perspective. Challenge others and be challenged yourself in a constructive, respectful way. That’s how real business conversations work.
• Active participation: Class time will be interactive, with cold calls and open dialogue. Silence and passive note-taking won’t cut it. To really learn, you’ll need to contribute ideas, respond to others, and take intellectual risks.
• Applications: In this course, mastery means more than knowing definitions or solving formulas — it means applying these ideas in real time, making judgments under uncertainty, and articulating your thinking clearly.

Technology in the classroom

Our class norm is that no personal electronics are in use during class — including laptops, tablets, and phones — unless explicitly noted by the instructor for a specific activity.

This policy is not anti-technology. Instead, it reflects a commitment to being fully present and focused on the problem at hand. Electronic devices have a well-documented tendency to distract not only the user, but also the people around them. Because this course relies heavily on discussion, problem-solving, and collective thinking, protecting our shared attention matters.

To support this norm, part of your participation grade includes complying with the device-free standard. In turn, it is my responsibility as the instructor to ensure that we have everything we need to work productively without devices during class.

To make this work, students are expected to:

• Complete assigned readings before class
• Bring written notes, questions, and reflections to class in hard copy
• Be prepared to reference materials without relying on electronic access

The core goal is simple: to guard our focus, eliminate unnecessary distractions, and engage seriously with the ideas, questions, and perspectives in the room. This creates a learning environment where everyone can think more clearly and contribute more fully.

What about computers?  Research suggests that students who take notes by hand think more actively about the material, and absorb it better, than those who take notes on their computers.  Screens, and noisy keyboards, are also tremendously distracting to your neighbors.  If are are not doing an activity that explicitly requires the use of technology , I ask that you keep it stowed away.

Course communication

Course communication runs through Blackboard and Oberlin email only. Announcements, reminders, and any schedule changes will be posted to Blackboard and sent by email - so check both regularly, and make sure your Oberlin address is one you actually read.

For individual questions, concerns, or anything sensitive, email me directly. There is no class messaging channel this term, and I will not run course communication through any other platform. If something matters, it will be on Blackboard or in your inbox.

Class attendance and punctuality

Attendance is required in this course. Because our work depends on discussion, problem-solving, and collective engagement, it is important that everyone arrives on time and ready to work.

I will frequently take attendance, and classes will often begin with a brief (approximately five-minute) reading check or opening exercise. These are designed to reinforce preparation and to allow us to begin class productively and on schedule. Late students will not be give more time to complete these checks.

More than two absences or instances of arriving late may negatively affect your final grade. Arriving late, leaving early, or stepping out during class disrupts both your own learning and the learning of others, and should be kept to an absolute minimum. Please use the restroom prior to coming to class.

If you anticipate an unavoidable conflict, you are expected to communicate in advance whenever possible. The underlying expectation is simple: being present, punctual, and prepared is part of your responsibility as a member of the class.

On case discussion days, timely attendance is especially important. It is impossible to contribute to the discussion without being present and prepared; your groups will also be depending on you if you are presenting. Absences will result in lower marks. In the event of emergencies and sickness, work with your group to make sure they have what they need to continue in your absence and alert the instructor. The quality of prior communication and work management in these instances will be reflected in grades.

Key Learning Goals

• Understand foundational business concepts and demonstrate fluent application
• Understand cost structures, marketing strategies, and operating economics
• Analyze business performance and strategic investments
• Apply frameworks to real-world scenarios through case studies
• Build the ability to articulate and defend strategic points of view

Topics

1. Understand Value Creation and Why It Matters

• Learn to define value in a business context and explain how businesses create, capture, and sustain value over time.
• Explore how businesses solve real human problems through combinations of people, resources, technology, and capabilities.
• Recognize that value creation happens in a competitive, dynamic world — not a static one — and that strategic decisions must account for alternatives and opportunity costs.

2. Analyze Cost Structures and Operating Economics

• Differentiate between fixed and variable costs, direct and indirect costs, and sunk vs. hidden costs.
• Apply unit economics, contribution margin analysis, and break-even frameworks to assess business scalability and profitability.
• Understand how cost structures shape strategic tradeoffs, such as make vs. buy, diversification, and resource allocation.

3. Connect Financial Tools to Strategic Decisions

• Use tools like payback period, net present value (NPV), and internal rate of return (IRR) to evaluate investments and strategic options.
• Analyze how growth plans, training, R&D, and flexibility investments affect long-term profitability and risk.
• Conduct sensitivity analyses and understand the assumptions behind financial models.

4. Explore the Economics of Marketing and Customer Relationships

• Build fluency with core marketing concepts: the 4Ps (Product, Price, Place, Promotion), segmentation, targeting, and positioning.
• Understand customer acquisition and retention through the LTV/CAC framework and funnel thinking.
• Evaluate branding, awareness, and messaging strategies in both B2B and B2C contexts.

5. Understand How Sales Systems Drive Growth

• Analyze how customer journeys and sales processes convert interest into revenue.
• Study the structure and management of sales teams and channels.
• Consider how marketing and sales work together to generate demand and deliver value.

Course content and reference materials

No required Textbook – readings will be posted to Blackboard There is no textbook for this course - notes and slides will be posted on the course Blackboard site, which will also include links to reference materials.

I will publish my notes and summaries as pre-reading materials prior to class. Upon reviewing them, some things will make more intuitive sense, and some areas will generate questions. Feel free to send me questions in advance, I’ll do my best to answer directly and/or amend the notes that are posted. Also, I will discuss case examples where the concepts applied to real-world situations. It can be instructive to do a bit more background research to learn more about these case examples, and present some of these findings in class. We can also use class time to clarify questions from the readings.

I will send out reminder emails along with links to the reading pages on Blackboard. I like to keep things simple. I will assume that all materials posted for the lesson are REVIEWED IN ADVANCE OF CLASS. Make sure you have read it in detail, noted any questions, and can quickly reference where you had difficulty understanding things - what is the passage, and what is the precise question you have about it.

We have cases that are used to advance our discussion and as the basis of many of our evaluations. These will be available for purchase from Harvard Business School Press using the link here https://hbsp.harvard.edu/import/1443710.

Grading scale

Letter grades are assigned per the point values below. Final grades are averaged based on assignment weight, and the ranges below are used to score the final grade.

Point distribution

Case studies (32%)

Why we use case studies

This course relies heavily on the case method, a teaching approach that has long been central to business education.

Rather than learning business concepts only through lectures and textbooks, cases put you into realistic situations faced by actual organizations and decision-makers. You will analyze imperfect information, weigh trade-offs, apply concepts under uncertainty, and decide what you would do if you were responsible for the outcome.

This matters because real business problems rarely arrive neatly labeled by discipline. Good decisions require integrating ideas from accounting, finance, marketing, operations, and strategy - while also considering incentives, constraints, and human behavior.

A second core feature of the case method is discussion. You will come to class having prepared your own analysis, but much of the learning happens in conversation - as you hear different perspectives, defend your reasoning, revise your views, and build on the thinking of others. The goal is not to memorize the “right” answer, but to develop sound judgment through active engagement.

For many undergraduates, cases can feel unfamiliar at first. Unlike traditional problem sets, cases include ambiguity, irrelevant details, and incomplete data. That is intentional: real decisions are often made without perfect information, and learning to reason carefully - including recognizing what you can and cannot confidently claim - is part of the skill.

Because cases are worked through in teams, you will also practice a realistic form of collective problem-solving. Teams benefit when members bring independent thinking, listen well, challenge respectfully, and synthesize toward clearer conclusions. In other words: the group is not a shortcut - it is part of the learning design.

How case work is structured (high level)

Most cases will unfold in a consistent rhythm:

• Individual preparation first. You will prepare independently before class so you can contribute your own thinking.
• Team synthesis next. In class, you will compare approaches, test assumptions, and work toward stronger shared answers.
• Cross-team discussion. We will compare how different groups framed the problem and why reasonable teams can disagree.
• Reflection on teamwork. You will occasionally submit a short assessment of team functioning and contribution.

More detailed expectations and submission instructions will be provided with each case as we approach it.

General Accessibility and Testing

It is the policy and practice of Oberlin College and Conservatory to create inclusive learning environments. If there are aspects of the instruction or design of this course that present barriers to your inclusion or an accurate assessment of your needs to best complete course requirements (e.g., time-limited exams, inaccessible web content, use of videos without captions), please communicate this with your professor and contact the Office for Disability & Access to request accommodations. Office: 440-775-5588, Mudd Center 205. Students can learn more about the accommodation process on ODA’s website https://www.oberlin.edu/disability-access. If you are permitted accommodations on exams or assignments, please let me know about these early in the semester so that we can make the appropriate arrangements, including receiving guidance from the Office of Disability & Access.

Students with testing accommodations through the Office for Disability & Access (ODA) can take their exams with accommodations at the Accommodated Testing Center, located in Wilder Hall. Please contact the ODA with questions regarding accommodated testing policies and procedures. Exams are not to be taken in settings other than the designated time and place. Instructor will take into account extenuating circumstances and illness on a case-by-base basis.

Midterm Exam (20%)

Midterm exam is cumulative. It is close book, closed note. It is taken during class time. Those with accommodations for additional testing time must take exams at the ODA testing center, no later than the week of the scheduled exam.

Final Exam (33%)

Wednesday, December 16, 2026, 9:00 - 11:00 am
Location: TBD - the room will be confirmed with the registrar and announced before the end of the term.
(this is the scheduled final exam time set by the registrar; the fall 2026 examination period runs December 14-18, 2026)

Final exams are cumulative. It is close book, closed note.

Departmental Final Exam Policy

Business courses follow final exam policies from the Economics department. Courses in the Department of Economics have a common final exam policy. It is the default policy that all final exams in the Department of Economics take place in-person at the official time and day set by the registrar. It is your responsibility to make sure you know the designated exam date for this class by going to https://www.oberlin.edu/registrar/final-exams before you continue with this class. The dates and times for exams are provided so you have ample time to plan travel accordingly. Rescheduling a final exam is reserved for students facing extenuating circumstances. To reschedule an exam, Oberlin College’s policy is that you must seek permission from the Academic Advising Resource Center (AARC). Please be reminded that lack of preparation, routine medical appointments, and travel schedules are not considered valid extenuating circumstances by the AARC for granting a rescheduled exam. If a rescheduled exam is granted, it is the default policy that the makeup exam will be taken in person. The AARC cannot grant students the permission to take the exam remotely. This policy aims to accommodate genuine cases of need while maintaining the integrity and fairness of the assessment process.

Class Participation (15%)

The 15% participation grade is distributed across three areas:

• Classroom Professionalism (5%) refers to the baseline behaviors that make productive, respectful learning possible. This includes arriving on time, being prepared with assigned readings completed, limiting distractions, including keeping laptops and electronics put away unless explicitly permitted, actively listening during discussions, and contributing in ways that support the learning environment. These behaviors are not about performance or brilliance; they are about showing up consistently and taking the shared work of the class seriously.
• In-class contributions (5%) In my view, great class discussions are built on a foundation of collective reasoning, where ideas are carefully analyzed, articulated, and challenged. Expect disagreements and be ready to engage respectfully in them. Thoughtful debate sharpens understanding and drives the conversation forward. Great contributions (1) Build on the current discussion, (2) Bring in relevant facts, concepts, or perspectives, and (3) Provide greater clarity or insight to the problem at hand.
• Team contributions (5%) Team Contributions reflect how you show up as a reliable and constructive member of your team. This includes being responsive to teammates (e.g., replying promptly to coordination messages), showing up on time and staying engaged for the full duration of team meetings, coming prepared (having completed assigned readings and developed your own responses to case questions), taking on constructive roles within the team, and contributing a fair share of the work involved in producing team deliverables. Strong team contributions support both team performance and collective learning.

Lateness and extensions

Due dates are communicated in advance. I will consider extensions only in exigent circumstances. If I grant one, I may apply a discount to the grade, depending on the circumstances. Requests must be made in writing by emailing me at least 24 hours in advance. If unavoidable circumstances will delay your submission, please discuss this matter with me, including your proposal to rectify the situation as soon as possible. Late submissions with no approved clearance will not receive credit.

If you are going to miss class or a part of class or have some other issue arise, review the syllabus and anticipate what needs to be done. Propose option(s) on how to deal with it. Do not give me notice, then ask me to figure out how to create a plan. Propose specific plans that offer the minimal deviation from the set course. If you are missing an exam date, propose the date(s) you can make it up in advance or soon after. If you cannot turn in an assignment on time, provide an explanation and and plan on what will be turned in by when.

It is your responsibility to communicate with me in a timely way about any deviations from assignments and exams. Poor communication can result in reduced credit or no credit at all.

Regrades

Regrading request must be submitted within seven calendar days to me from the day when the work is returned in class. To petition for regrading, you must submit in writing the reason that you would like your assignment/exam to be regraded, including specific question number references and rationale. If an assignment/exam is submitted for a regrade, I will regrade the entire test, so it is possible to lose additional points.

The spirit of this regrade policy acknowledge the fact that grading errors can occur, despite all care taken to avoid them. However, one-sided correction efforts create bias that are unfair to the rest of the class - my errors can (and do) apply in both directions. While I believe no student should suffer point deductions where none are warranted, I also do not wish to penalize those who do not submit corrections by introducing systematic bias into the grading approach.

The Honor Code

Group study and collaboration can be highly educational, and I therefore encourage students to study together and to discuss and compare notes in the course. I am also available for consultation during office hours by appointment. There should be no collaboration on quizzes and exams.

Excessive reliance on the assistance of others hinders learning. Also, the inappropriate use of generative artificial intelligence can also undermine the opportunity to gain and demonstrate mastery of concepts.

A satisfactory grade can be withheld on academic work, no matter how carefully documented or cited, if it:

• Is inadequately researched or relies too heavily on a single source or sources
• Employs an excessive degree of verbatim or paraphrased use of another’s work
• Has been extensively rewritten by another person or is copied from another person’s paper
• Merely repeats, without evidence of individual thought, ideas and data gained from any source
• Employs the use of generative artificial intelligence such that the submitter can not explain the meaning and/or coherency of the submitted work

The Oberlin College Honor Code applies to any work handed in for credit. Students are expected to write and sign on each assignment: “I have adhered to the honor code on this assignment.” I will provide specific rules and guidance on each assignment as it comes up and will record a grade of zero on any work for which I do not have a signed affirmation of the Honor Code or on which I have reason to suspect a violation. I take academic integrity extremely seriously. Students who violate the Honor Code may fail the course. In either case, I will inform you promptly of this decision. Please note as well that your obligation under the Honor Code includes reporting any violations you witness even if you are not directly involved. If you have any questions about the application of the Honor Code in a specific situation, please consult with me.

Use of Artificial Intelligence (AI) tools

TL;DR version: Acceptable AI use:

• Creating an outline
• Brainstorming topics/angles
• Generating examples (that you verify)
• Critiquing your draft (clarity, structure)

Unacceptable AI use:

• Inventing sources/data
• Writing your final analysis/recommendation for you

According to Oberlin’s Honor code, “Utilizing artificial intelligence software or other related programs to create or assist with assignments on the behalf of a student unless otherwise specified by the faculty member and/or the Office of Disability & Access” constitutes cheating.

Learning to use AI is an emerging skill, and I encourage you to explore this tool, experiment with it, and evaluate how it can enhance your learning. You may even find that using AI tools can help in the preparation of exams, as a tutor, a reference, a generator of practice problems, etc. I encourage you to use this to enhance your learning, but not as a substitute for it.

The use of artificial intelligence tools is not permitted during quiz or exam assessments, including the midterm and the final exam. Once a quiz or an exam has started, and until the completion of the assessment, such tools should not be used as aids. Doing so constitutes a violation of policy. For written assignments, all ideas should be your own.

Be aware of the limits of AI tools such as ChatGPT:

• If you provide minimum effort prompts, you will get low quality results. You will need to refine your prompts in order to get good outcomes. This will take work.
• Don’t trust anything it says. If it gives you a number or fact, assume it is wrong unless you either know the answer or can check in with another source. You will be responsible for any errors or omissions provided by the tool. It works best for topics you understand.
• AI is a tool, but one that you need to acknowledge using. Every written assignment includes a short paragraph stating what AI you used and for what purpose. Failure to include it is a violation of policy.
• Be thoughtful about when this tool is useful. Don’t use it if it isn’t appropriate for the case or circumstance.

Documenting AI use

Every written assignment includes a short paragraph stating what AI you used and for what purpose. You do not need to include prompts or raw output.

If you did not use AI at all, say so explicitly: No AI was used for any purpose on this assignment. The statement is required either way.

This requirement applies to all written assignments. AI tools are not permitted during quizzes or exams at all, so no statement is needed there.

Individual case preparation is narrower than the general policy above. The logic, the approach, and the calculations required to solve case problems must come from your own effort, without AI; limit AI use there to clarifying wording and grammar edits. The full expectations are on the working session page for each case and in “Process for doing cases in groups.”

Instructor use of AI

AI tools present an opportunity for creating valuable teaching tools and experiences. As such, I also use AI tools in a variety of ways, including the drafting of problem sets, discussion questions, teaching notes, etc. In all cases, final writing and all errors therein are my responsibility. I keep an updated statement of how I use AI here: https://ericxlin.io/working-with-ai/

Recording

All lessons may be recorded by me or by students assigned the role of recording team working sessions. Generally, in-class sessions will not be recorded. Any recording of the class must first be approved by the instructor in writing. All recordings will be used for the purpose of educational goals of the class or for faculty as a resource to guide future course development and improve delivery of material.

Class Schedule

Academic Freedom

Knowledge flourishes when inquiry is free and respectful. This class, which has been approved as part of the Oberlin curriculum by appropriate faculty bodies, aims to advance knowledge through discussion, debate, and carefully selected readings and assignments. In accordance with principles of academic freedom promulgated by the American Association of University Professors and affirmed by many universities, including Oberlin, the instructor has the authority to set the class syllabus, which may include controversial material relevant to topics being studied. While all participants and their views will be treated respectfully, no one should expect to be shielded from challenging or even upsetting ideas, since thoughtfully engaging such ideas is crucial to free inquiry and intellectual growth.

Disclaimer

Any opinions, perspectives, or statements expressed or reflected in classes, assignments, exams, or choice of reading list materials are those of Eric Lin only.