MGTA01

Introduction to Business

Course Outline for Lec02 (Wednesdays) – Fall 2020

Instructor Information:

Professor Chris Bovaird

Because of the ongoing precautions against the spread of the coronavirus, there will be no on-
campus lectures during the Fall 2020 semester.

The Provincial Government, and its health and scientific advisors, are encouraging as many
people as possible to work from home. The University of Toronto is encouraging faculty and staff
to work from home. I am considered to be an “at risk” individual (I will turn 65 this semester, and
I am an asthmatic). Therefore, I am unlikely to be on campus regularly this semester.

I am readily available by e-mail. I believe that I am reasonably prompt at responding to student

questions and concerns. Please feel free to e-mail me at:

chris.bovaird@utoronto.ca

I normally respond to student e-mails within 24 hours.

Office location (when the campus re-opens): IC - 266

Please Read This Course Outline!

It contains information that will help you to understand and enjoy the course.

Last update: July 17, 2020

Course Outline – Table of Contents

Course Overview and Description – What MGTA01 is about 3

Learning Outcomes – What you will learn 4

Course Textbook – The book that will be used to teach this course 4

Course Delivery – How the course will be delivered during “social distancing” 5

Faculty Information - About your Professor 5

Course Administration – Who else can help or advise you 6

Other Helpful Resources – The UTSC Library, the ELDC, and the Writing Centre 6

Course Evaluation – How You Will Be Tested and Evaluated 7

Test #1 – Week 5 – 12%

Test #2 – Week 7 – 18%

Test #3 – Week 10 – 25%

Final Examination – End of Semester - 45%

Test Marking Policies and Procedures – How your tests and exams are marked 9

Review of Graded Tests and Assignment 9

Academic Misconduct 9

If You Are Sick – What you should do if you miss a test 10

Course Re-Grading Policies & Procedures – What to do about questions or concerns 11

Course Schedule – Dates and deadlines for this semester 12

Past Grades - Class Average marks 2016-2019 9

Page 2 of 11
Course Overview and Description – What MGTA01 is about

This course serves as an introduction to business, the role of businesses within the Canadian economy,
the planning and creation of business, and of issues of particular interest and relevance to Canadian
business managers in 2020.

“Introduction to Business” is the introductory course for any student at UTSC who is not in the Management
program, and who wants to take a survey course on business, as an elective.

The first seven lectures are grouped together under the theme of “Business – The Social and Economic
Context”. These lectures consider the characteristics and purpose of businesses, the goods and services
that businesses provide, the raw materials from which every business is made, the role of businesses in
Canadian society, and the functioning of businesses within Canada’s market-based economy.

The next five lectures are grouped under them theme “Business – The Entrepreneurial and Organizational
Context”, Businesses are started by people with imagination and ambition. We will look at the people who
start businesses, and why they start them. If they are to succeed, businesses require planning and
organization. Lectures will be devoted to way that businesses are planned, and to the various ways in
which businesses can be set up and financed.

MGTA01 Course Text Book

Introduction to Canadian Business

Second edition
Chris Bovaird
McGraw Hill Custom Publishing
2019

The textbook is available in hard or soft copy from the UTSC bookstore.

Page 3 of 11
Learning Outcomes – What You Will Learn

As a result of taking this course, you should develop an understanding of:

 The features and characteristics of the organizations we call “businesses”;
 “Profit” the pursuit that distinguishes businesses from other types of organization;
 The “profit motive”: the incentive that causes some people to start a business;
 “Products”: the things that people need and want
 “Goods” and “services”: The features and characteristics of different kinds of product;
 "Factors of Production": The raw materials needed to create businesses and products
 The Canadian economic system, and how private enterprises (i.e. businesses) work alongside
governments and not-for-profit organizations to provide Canadians with the goods and services
that they need and want;
 The concept of "markets" and the various types of “market structure”: perfect competition,
oligopoly, monopoly, and monopolistic competition;
 How to measure economic performance: “GDP”, “GDP growth”, “GDP per capita”, “productivity”,
“employment” and “unemployment”, wealth distribution, equality and inequality;
 The key role of small and new business in creating jobs and providing employment for the
Canadian economy;
 The characteristics and traits of entrepreneurs, the people who are motivated to create
businesses;
 How to start a business: the importance of planning,
 How to organize your business: sole proprietorships, partnerships and corporations;
 Finance: collecting capital from savers and investors and distributing it to entrepreneurs and
business managers;

Page 4 of 11
Course Delivery – How the course will be delivered during “social distancing”

Due to the on-going global coronavirus pandemic, the University of Toronto has cancelled all on-
campus lectures and most other on-campus activity for the Fall 2020 semester.

MGTA01 “Introduction to Business” will therefore be delivered entirely on-line.

The plan is that each week, four to five days before the scheduled class time, I will post a videotaped
lecture, and the accompanying Powerpoint slides to the MGTA01 course site on Quercus. I
encourage you to watch the videotaped lecture and review the Powerpoint slides before the virtual
class held on Monday mornings at 10 a.m. Toronto time.

Note: The videotaped lectures were recorded one year ago, i.e. in the Fall semester of 2019. I have
attempted to edit these lectures to remove or reduce the number of administrative announcements
related to last year’s course, and to remove or reduce reference to dates related to last year’s course.
Please be understanding, and please use your common sense when, during a videotaped lecture,
you hear occasional, year old, references to “the mid-term test” or “next week”.

Every Wednesday morning at 10 a.m. (the scheduled class time) I will host a live and hopefully
interactive class using Blackboard Collaborate (Quercus’ virtual meeting tool). During the live class,
I will speak to the Powerpoint slides, and relate the week’s theoretical material to current events and
current real world examples. I hope to initiate discussions around questions similar to those that are
likely to appear on the course tests and final exam.

If you watch the videotaped lecture in advance, please be prepared to bring your questions and
comments to these virtual classes.

Faculty Information – About your Professor

MGTA01 – Introduction to Business will be taught by Professor Chris Bovaird

Professor Bovaird has been teaching introductory business and management courses, as well as courses
on corporate strategy, personal entrepreneurship, and new venture creation, at UTSC since 1995.

Professor designed and created the current “Introduction to Business” course about 20 years ago. He
wrote Introduction to Canadian Business, your course textbook.

Professor Bovaird has degrees in Economics, Management Science and Business Administration.

Prior to joining the faculty of UTSC, Professor Bovaird worked in banking and finance in New York, London,
and in Canada.

Prof. Bovaird has been teaching graduate and undergraduate courses in banking, finance, marketing,
strategy, entrepreneurship and general management for about 30 years. For 10 years, he also taught in
the Faculty of Engineering at the University of Waterloo. Professor Bovaird is the author of five books on
the subject of venture capital, financing enterprise, business and managing businesses.

His consulting career has taken him to Europe, Asia, Africa, and the Middle East. His client list includes
some of the largest businesses not only in Canada, but the world. Chris has performed paid consulting
work for: Shell, Unilever, the British National Health Service, the Dutch national gas company, Scottish
Nuclear Limited, the CIBC and Bell Canada Enterprises.

Page 5 of 11
Course Administration – Who Else Can Help and Advise You

On a day-to-day basis, your first point of contact for administrative matters relating to MGTA01 should be
the Course Administrator, Bobbi McFarlane. Ms. McFarlane’s e-mail address is:
<sam.mcfarlane@utoronto.ca>

Ms. McFarlane is responsible for all administrative and logistical aspects of the course. She works closely
with Professor Bovaird to ensure that your tests are graded and your results communicated to you quickly,
and to handle all administrative matters in this large enrollment course.

Ms. McFarlane should be your first point of contact for any questions concerning:

- Any administrative aspects of the course: times, dates, places, etc.

- You can’t find your grade, after test grades have been posted to the Blackboard.
- You believe that there has been an error or omission in the grading of a test
- You have medical documentation concerning a missed test.

Other Helpful Resources – The UTSC Library, the ELDC, and the Writing Centre

The Department of Management, in collaboration with the UTSC library, will be providing
academic research support in the IC Building. To refine your research skills or to learn more about
various scholarly resources, please contact the Librarian for Management and Economics
students.

Mariana Jardim
Librarian for the Department of Management
Office: Room IC-367

Web: http://guides.library.utoronto.ca/utsc_mgmt

The English Language Development Centre (ELDC) helps students develop the critical thinking,
vocabulary and academic communication skills essential for achieving academic and professional
success. Refer to: http://ctl.utsc.utoronto.ca/eld/

The Writing Centre (TWC) offers invaluable services to students (learn to become a better writer!)
and offers many different kinds of help: drop-in sessions, individual consultations, workshops,
clinics, and online writing handouts. http://ctl.utsc.utoronto.ca/twc/

Page 6 of 11
Course Evaluation – How You Will Be Tested and Evaluated

Your final grade in the course will be made up of 4 components, as follows:

Probable Probable
Component Planned Date Value %
Coverage Length
Test #1 Week 5 – October 7 Chapters 1 to 3 40 min 12%
Test #2 Week 7 – October 28 Chapters 1 to 5 50 min 18%
Test #3 Week 10 – November 18 Chapters 1 to 7 60 min 25%
Final Examination Mid- to Late-December Chapters 1 to 10 90 min 45%

In-Semester Tests (12% + 18% + 25%)

Three tests will be administered during the semester. It is currently planned that these test will take place
during the scheduled lecture time (Wednesday at 9.00 a.m. Toronto time). I intend to run these test in
weeks 5, 7 and 10 of the semester. The dates for the tests are subject to change.

Each of the tests will probably be 40 – 60 minutes long. Each test will cover all of the material covered in
the course to that date. Each test will probably consist of 15 - 20 multiple choice questions, 8 - 10 fill-in-
the blank (supply the missing word or phrase) questions, and 2-3 short answer questions. The precise
format of each test will be communicated in the week prior to test itself.

The mid-term tests are NOT OPTIONAL. If you miss a mid-term test, you must supply valid medical
certification or a mark of “0” will be recorded for the missed test.

Final Examination (45%)

The final examination will be scheduled by the Registrar's Office. The time and date of the exam will not
be known until 4-6 weeks before it occurs.

The final exam will likely be 90 minutes long and will likely consist of a combination of multiple choice
questions, fill-in-the-blank question, and short answer questions.

The precise format of the final exam will be announced approximately 2 - 3 weeks prior to the exam.

Page 7 of 11
Test Marking - Policies and Procedures

All of the questions set on the MGTA01 tests (and on the final exam) have been written by
Professor Bovaird. Professor Bovaird has been teaching first-year business and management
course at UTSC for more than 25 years. Prior to that, he taught business and management
courses (at both the graduate and undergraduate level) at other universities in both in Canada
and Europe. Professor Bovaird designed and wrote the MGTA01 course. He wrote the course
textbook and all of the course slides. He believes that this background and experience qualifies
him to judge what material needs to be tested, the appropriate level of difficulty for the test
questions, and the appropriate standards to which the course Teaching Assistants should mark.

Your mid-term test and final examination are marked by the course Teaching Assistants. MGTA01
course TAs are either graduate students with extensive backgrounds in business and
management and relevant prior degrees, or they are UTSC undergraduate students who have
previously but recently taken this course, and achieved grades of A+ on this and similar courses.

Model answers, and grading instructions, are prepared by the course Professor. The model
answers are given to the course Teaching Assistants and the marking criteria are discussed with
the TAs prior to your tests or exam being distributed for marking.

Once the tests and exams have been marked, the Professor reviews a sample, including those
papers which occupy the extreme ends of the range.

Review of Graded Tests

I want you to see that your tests have been graded carefully, accurately and fairly.

Multiple choice questions and fill in the blank questions on the tests will be graded electronically.
Short answer questions will be graded by the course TAs, who will also review the electronic
grading to ensure there have been no technical errors or omissions.

It typically takes 3-4 days for the course Teaching Assistants to finish grade your tests, and
another 2-3 days for Ms. McFarlane and Professor Bovaird to review and post the test marks.
Thus, your grades will be posted to Quercus roughly one week after each test, along with model
answers and the marking guide.

You will be shown your mid-term tests after they are graded.

Academic Misconduct
Students should note that copying, plagiarizing, or other forms of academic misconduct will not
be tolerated. Any student caught engaging in such activities will be subject to academic discipline
ranging from a mark of zero on the assignment, test or examination to dismissal from the university
as outlined in the academic handbook. Any student abetting or otherwise assisting in such
misconduct will also be subject to academic penalties.

Page 8 of 11
If You Are Sick – What you should do if you miss a test

If you miss a test, because you claim to have been ill, you must supply valid medical
certification. You must do so as soon as you reasonably can.

The university has created a standardized form for students who are requesting special academic
consideration based on illness or injury. The form focuses upon the degree of incapacitation that
the illness or injury has upon the student’s academic functioning and the timeline of that
incapacitation, rather than on diagnosis and /or details of the problem. All students must now have
a health professional complete this form:

http://www.illnessverification.utoronto.ca/getattachment/index/Verification-of-Illness-or-Injury-
form-Jan-22-2013.pdf.aspx

Scan and deliver your medical documentation to the Course Administrator, Bobbi McFarlane,
mcfarlane@utsc.utoronto.ca. as soon as you reasonably can.

If you are unable to write a test, and provide appropriate documentation, the weight of the test will
be added to the weight of final exam.

Past Grades – Class Average Marks 2017 - 2019

Good grades are NOT easy to obtain in MGTA01. If you want to get a “B” you should watch the
videotaped lectures, read all of the assigned chapters in a timely manner, participate in all of the
virtual classes, and ask questions if you have them. You can ask questions during the virtual
classes or write me an e-mail message. I am likely to (anonymously) share students’ questions
and my answers, with all of the class.

The class average grade for the last 6 times this course was taught by Prof. Bovaird:

Winter Fall Winter Fall Winter Fall

Semester
2017 2017 2018 2018 2019 2019

Average 67.4% 68.0% 74.2% 66.6% 63.5% 68.1%

Everyone at UTSC had high school grades in the 80s. High school standards (of written
communication, demonstration of knowledge, and the ability to use examples or interpret facts)
will result in an “average” grade, i.e. C+. To get better than average grades you must do better
than average work.

Page 9 of 11
MGTA01 Re-Grading Policy and Procedures – What to do about questions or concerns

I want you to see that your tests have been graded carefully, accurately and fairly. You will have
the opportunity to review your graded tests. However, if you have questions or concerns about
your grades, I want you to respect a few simple, reasonable, and transparent procedures.

Before raising any questions about your grades, you have the responsibility to reviewing your
work, review model answers and/or marking guides, and to read the grader’s comments. If, upon
mature reflection, you feel that there has been a material error or omission in the marking of your
work, you must observe the following procedures:

Send an e-mail message to the MGTA01 Course Administrator Bobbi McFarlane. Please do not
send your message to Professor Bovaird. Ensure that your message contains:

(i) Your name as it officially appears on UTSC records,

(ii) Your 10-digit University of Toronto student number,

Write a brief explanation of the criterion (criteria) against which you believe you have been graded
incorrectly, or an explanation of why the marker has misunderstood your answer.

You must do this within five business days of the graded test being made available to you. It’s
unreasonable for re-grading requests to be made after that time.

Re-grading will be based only on what you submit in writing. Marks are not the subject of
"discussion" or negotiation.

Your work will then be re-considered by a second Teaching Assistant (not the original grader).
Your work will be re-appraised based on your written comments and clarifications. Re-grading
means that your work will be reevaluated, and a new grade may be assigned. It is possible to
lose marks as well as to gain marks through re-grading. So, please do not submit your work for
re-appraisal unless you are confident that a material error in grading has occurred.

It is expected that all students will put “time and effort” into this course. “Time and effort” devoted
to the course must not be cited as grounds for appealing a grade. In addition, your grades in other
courses are not relevant to the grades that you might receive in MGTA01. It will probably take 2
weeks before you receive a response to a regrading request.

Addition Errors
If there has been an addition or transcription error in totaling up your mark, please take a screen
shot of the relevant document (e.g. your test) and pass the information on to Ms. McFarlane.

Page 10 of 11
 Lecture Schedule – WEDNESDAY at 10 a.m. (Lecture section 02)

Please Note: This lecture schedule was drafted several weeks before the start of the semester.
This is the intended course schedule. It is subject to change due to illness, power outages, fire
drills, etc. Listen for announcements and updates in class. Look for announcements on the
Blackboard.

Week Dates Chapter

Topic / Subject
# (Wed/Mon) Reading
Introduction & Overview of Course
1 Wed Sept 9 1
+ begin Chap 1: What is a Business?
What is a Business? (chapter 1 completed)
2 Wed Sept 16 2
Things That People Need and Want: Products
3 Wed Sept 23 Factors of Production 3

4 Wed Sept 30 Owning & Controlling the Factors of Production 4

5 Wed Oct 7 Test #1 1 to 3

5 Wed Oct 7 Buyers & Sellers Interact: How Market Work 5

Wed Oct 14 Reading Week: No classes

6 Wed Oct 21 Measures of Performance (1) 6

7 Wed Oct 28 Test #2 1 to 5

7 Wed Oct 28 Measures of Performance (2) 6

8 Wed Nov 4 Enterprise and Entrepreneurs 7

Planning & Organising the Business:
9 Wed Nov 11 8
Sole Proprietors and Partnerships
10 Wed Nov 18 Test #3 1 to 7

10 Wed Nov 18 Organising the Business: Corporations 9

11 Wed Nov 25 Understanding Finance 10

12 Wed Dec 2 Catch-Up, Review, Exam Preview 11

Mid-December Final Exam – covers all course material

Page 11 of 11