The Business Administration Program is designed to produce graduates who possess skills and abilities needed to succeed in the business world of the 21st century. An emphasis is placed on critical thinking skills, communication skills, liberal arts breadth, and the fundamental business concepts essential for successful careers in business. Each of the degree options is organized to develop a thorough understanding of the fundamental concepts of business. In addition to conceptual knowledge, each student develops the ability to apply specific principles in a specialty of the student’s choosing. These principles are taught through a program that has three essential elements.
The Base Curriculum consists of a group of courses mainly outside of the Business area that covers the basic competencies needed to succeed in the upper-division Business requirements. These courses have been selected to ensure basic knowledge in the areas of communication, reasoning, and critical thinking required for upper-division study. The second element is the Business Administration Nucleus, comprised of a core of Business courses focusing on principles in the areas of communication, marketing, management, and law. These courses form the fundamental business concepts required in all emphasis areas and represent the bulk of the requirements for the Standard Program in Business Administration.
The third element consists of a group of courses in the area in which the student wishes to acquire additional technical skills. In the Standard Program, the courses are in an area outside of Business Administration where the student is required to attain at least a minor. In the other emphasis areas offered by the department (management, marketing, entrepreneurship, Latin American business, professional land and resource management, and resort management), the student has additional requirements that develop skills necessary to succeed in the chosen area.
The Management Emphasis provides opportunities to develop the necessary expertise to enter a training program for managerial-level employees in any size business. These courses place emphasis on learning both essential management principles and their application in the highly competitive world of business.
The Marketing Emphasis is designed to prepare students for entry-level positions in strategic marketing, sales, marketing research, and promotion. Students are encouraged to relate their studies in related disciplines, such as Communications and Economics, to the study of marketing.
The Innovation, Creativity, and Entrepreneurship (ICE) Emphasis prepares students to think and act as a leader who challenges the status quo. Students experience cutting edge innovation and design-thinking techniques necessary for solving the ever changing commercial, social, and environmental challenges of tomorrow. ICE students master the ability to recognize opportunity, frame problems, think creatively, manage risk, and launch organizations.
The Latin American Business Emphasis prepares students for entry-level positions in international organizations that specialize in Latin America. The program is highly interdisciplinary with a solid business core. In addition to business fundamentals, the student will develop an understanding of the predominant language and culture of Latin America and its history, together with the broad concepts of international economics.
The Energy Management Emphasis is designed to prepare students for entry-level positions as land negotiators. Students learn land and resource management principles through knowledge and perspectives of business administration, economics, geology, and environmental studies. The program is designed to prepare students to work in the business side of energy and mineral exploration.
The Resort Management Emphasis prepares students for entry-level management positions in the hospitality industry. With a solid foundation in business, a student is well prepared to succeed in specific courses in resort management and equipped with employment-ready skills upon graduation. Students are required to complete 400 hours of work experience in the industry prior to graduation to provide practical experience in the field.
Graduate study in business (MS or MBA) is possible regardless of undergraduate major. However, students lacking sufficient quantitative and analytical skills may find it difficult at best. These skills can be acquired by completing the Base Curriculum previously described and by adding a higher level math class than required for the undergraduate degree.
To graduate, all business majors must have a “C-“or better in all courses required in the major.
- Business Administration Comprehensive Major: Energy Management Emphasis
- Business Administration Comprehensive Major: Finance Emphasis
- Business Administration Comprehensive Major: Innovation, Creativity, and Entrepreneurship Emphasis (ICE)
- Business Administration Comprehensive Major: Latin American Business Emphasis
- Business Administration Comprehensive Major: Management Emphasis
- Business Administration Comprehensive Major: Marketing Emphasis
- Business Administration Comprehensive Major: Resort Management Emphasis
- Business Administration Major: Standard Program
- Business Administration Minor
- Business Administration Minor - Business Analytics
- Business Administration Minor - Business Law
- Business Administration Minor - Energy Management
- Business Administration Minor - Innovation, Creativity, and Entrepreneurship (ICE)
- Business Administration Minor - Sales
- Business Management Emphasis (with a 3+2 Master in Environmental Management)
- Business Management Emphasis (with a 3+2 Outdoor Industry Master in Business Administration)
Capstone Course Requirement
The following courses in the Business Administration Major fulfill the capstone course requirement: BUAD 491 Strategic Management (Standard Major or Management, Marketing, Latin American Emphases) or BUAD 494 Innovation, Creativity, and Entrepreneurship: Launch (ICE: Launch) (Innovation, Creativity, and Entrepreneurship Emphasis) or BUAD 495 Prospect Economics and Evaluation (Energy Management Emphasis).
Business Administration Courses
A study of the role of business in modern society. Topics include the private enterprise system, consumerism, management functions, major functional areas of large business, vital areas of small-business operation, and the environment of business.
This course helps students begin building the foundations of four critical life skills: economic decision making, managing personal finances, personal branding and creating change. Students learn the basics of objective decision making, managing budgets and filing income taxes, creating and projecting a personal image, and using creativity and innovation within organizations and personal lives.
An introduction to hospitality management, including historical developmental patterns, current business trends, and future international expectations. Current job market, working environments, personal risks, and rewards are explored.
A study of the fundamentals, principles, and practices of effective written communication, including concepts of appearance, language, and psychology of tone and persuasiveness as applied to the business letter, memorandum, email, spreadsheet, and report. Presentation skills are also discussed and practiced. Prerequisites: ENG 102 with a minimum grade of “C-”.
Designed specifically for Energy Management students. It is intended to provide students with hands on, real world professional awareness. Prerequisite: Instructor permission
Designed to help students plan the handling of their finances in everyday business transactions. Topics include budgeting, credit, savings, insurance, income tax, investments, and estate planning.
Provides students an ability to sense the occasions when a lawyer should be consulted for guidance in avoiding legal mistakes. A study is made of the ordinary legal aspects of common business transactions, including the topics of social forces, contracts, personal property, and agency.
Students learn to utilize spreadsheets to organize, manipulate, analyze, and present data and information in business settings.
Studies the evolution of global oil and gas development and its economic and geopolitical effects. The relationships between oil technology, economics, social and political institutions, and the unique cultures in oil-producing regions are investigated. Additionally students study a multi-disciplinary approach to understanding how oil affects economic development and commerce.
Merges theory with practice, offering students a hands-on opportunity to learn negotiation and communication skills. Students study how to develop personal negotiation plans and preparation methods, analyze other parties’ interests, identify and implement solutions for mutual gain, communicate effectively, and successfully draft agreements. Students practice and refine both their personal and professional negotiation and communication skills using realistic mock scenarios to negotiate, compose, and evaluate agreements. Prerequisite: COM 202 with a minimum grade of “C-“.
An introduction to the fundamental concepts of marketing, including consumer demand and behavior, segmentation, advertising, marketing research, product development, distribution, pricing, the internet as a marketing agent, and global marketing issues. The student is exposed to the most basic tools, factors, and marketing principles administered by management in establishing policy, planning, and complex problem solving. Prerequisites: ENG 102 with a minimum grade of C- and completion of at least 24 credits; or instructor permission.
The ICE mindset comprises the underlying beliefs and assumptions that drive the behavior enabling people to create positive change. This course takes the approach that anyone (not just those who want to start businesses) can benefit from understanding and applying an innovative, creative, and entrepreneurial mindset to any situation that demands change in their life. Students are immersed in learning about the fundamental aspects of an ICE mindset and the unlimited opportunities it can provide.
A course designed specifically for freshmen- and sophomore-level students. Internships provide guided, counseled, and progressive experience under a dual-tutelage program of a businessperson and an academician. An academically monitored activity to assure quality experience. Graded Satisfactory/Unsatisfactory only.
A study of how ethics apply to business organizations today. Special emphasis is placed on developing moral reasoning. The course provides multiple perspectives on actual cases and ethical dilemmas faced by organizations with an emphasis on allowing students to think through ethical problems. Topics studied include moral philosophies, moral agency and development, ethical underpinnings of free markets and economic systems, and ethical concerns with the environment, future generations, and other stakeholders such as employees and consumers. Prerequisites: completion of Base Curriculum; BUAD 185 or COTH 202; or instructor permission.
Provides an opportunity for students to examine current issues, topics, problems, and trends within the field.
Designed specifically for Energy Management students. It is intended to provide students with hands on, real world professional awareness. Prerequisite: Junior or senior standing and instructor permission.
Introduction to the energy industry, including fossil fuel and renewable energy use and development. Explores topics including global energy production and consumption, energy efficiency, infrastructure, grid systems and transmission, and environmental and social impacts of energy development with an emphasis on regulation, policy, and the oil and gas industry. Prerequisite: COM 202.
Study includes: legal attributes of different business entities, employment and agency, intellectual property, securities, antitrust, sales, products liability, secured and unsecured lending, suretyship, bankruptcy, and real and personal property. Prerequisite: BUAD 210.
Introduction to the field of land management in the petroleum industry. Covers the necessary knowledge and skills of the petroleum land professional, both in the U.S. and internationally. Topics include land survey systems, mineral ownership and severance, as well as oil and gas leases. Examines other oil and gas exploration and development phases. State and federal leasing is covered. Prerequisites admission into the PLRM program, or instructor permission.
Introduces the preparation, negotiation, and drafting of contracts and agreements used in land management and the petroleum industry. This course covers the knowledge and skills a petroleum land professional is expected to exhibit in drafting and negotiating commonly used contracts with a focus on upstream agreements including but not limited to: oil and gas leases, surface use agreements, farmout agreements, AMI’s, joint operating agreements, master service agreements, seismic agreements, pooling agreements, purchase and sale agreements, and exchange agreements. Prerequisites: BUAD 320; or instructor permission.
An exploration of the fundamental issues of financial planning. Students gain an understanding of the concepts of the financial planning process, the economic environment, the time value of money, the legal environment, financial analysis, and ethical and professional considerations in financial planning. Prerequisite: Completion of Base Curriculum.
A study of how managers can and should be involved with systems planning, development, and implementation; what information systems resources are available to managers for decision support; and how information and technology can be used to supportbusiness strategy. Also, this course takes a managerial approach to information systems concepts and applications in business, while exposing the student to various types of software in the business sector. Prerequisite: BUAD 220 or CIS 120.
Students build their social media marketing skills by utilizing projects that give students hands on experience implementing social media marketing strategies. Upon completion, students should be able to use social media technologies to create and improve marketing efforts for businesses. Prerequisite: BUAD 270.
Prepares students for management of sales, food cost controls, beverage cost controls, labor, personnel, sanitation, and market analysis as they relate to the resort industry. Prerequisites: completion of Base Curriculum; BUAD 150; or instructor permission.
An introduction to operating rental and retail-profit centers as part of a corporationinvolved in the resort industry. Topics covered include managing personnel, equipment, training, traffic flow, buying, forecasting, and accounting. Prerequisites: completion of Base Curriculum; BUAD 150; or instructor permission.
Provides students an understanding of human behavior in organizations today. Students will become familiar with the basic dimensions of organizational behavior covering topics such as leadership, motivation, management of people, and group dynamics. The course stresses an experimental approach as well as the personal nature of the material and how this relates to the complexities of behavior in and of organizations. Prerequisite: BUAD 185 or COM 202; or instructor permission.
A focus on organizational structure and front office positions. Topics covered include reservation, registration and rooming process; management, financial, and policy control procedures; and organization, staffing, and functions of housekeeping departments Prerequisite: completion of Base Curriculum; BUAD 150; or instructor permission. Class will be held at Crested Butte Mountain Resort.
Advertising, sales promotions, media utilization, public relations, and personal selling are highlighted in this course. Legal regulations and ethical considerations in mass media advertising and promotions are also covered. Finally, the student is exposed to the principles of planning and budgeting for such media events. Prerequisites:MATH 140, MATH 141, or MATH 151 with a minimum grade of “C-”; ACC 201 with a minimum grade of “C”; BUAD 270; or instructor permission.
Provides an awareness of the rights and responsibilities that the law grants to or imposes upon a hotelkeeper and illustrates the possible consequences of failure to satisfy legal obligations. Also included is risk management as a means of mitigating exposure to lawsuits and fines. Prerequisites: BUAD 150; BUAD 210; or instructor permission.
An introduction to the history, principles, and enforcement of environmental law with a focus on certain major environmental laws, including the National Environmental Policy Act, Clean Air Act, Clean Water Act, and other laws, acts, and policies. Certain hot topics in natural resource law are also addressed. Students recognize the interplay between environmental laws and various industries, including the energy industry. Prerequisite: BUAD 210.
A focus on the habits, thinking, perspective and skills needed to understand professional selling. Students learn the SPIN model and engage in significant amounts of presentation practice and skills building. Students will choose a company, product or service to serve as their role play model for the semester. Prerequisite: BUAD 270.
Utilizing theories from the behavioral sciences, this course provides an in-depth examination of the individual customer learning and decision-making processes, segmentation, as well as culture, subculture, and social class relationships with marketing. Students develop an understanding of consumers’ shopping behavior, utilization of different marketing channels, perception of products, and reactions to advertising and other selling methods. Prerequisites: completion of Base Curriculum; BUAD 270; or instructor permission.
Provides students with an understanding of the functions, content and challenges of Human Resource Management (HRM) in organizations today. Insights will be developed on basic dimensions of HRM such as recruitment, selection, performance management, rewards and retention, as well as particular challenges concerning strategic HRM and global environments. Emphasis is placed on how the complexities of HRM relate to students' past and future experiences as members of organizations. Prerequisites: BUAD 185 or COM 202 or instructor permission.
An introductory course to the field of managed finance, covering such topics as financial analysis, time value of money, risk/return analysis, capital budgeting, working capital management, cost of capital, optimal capital structure. Prerequisites: Completion of Business Administration Base Curriculum; or Energy Management Base Curriculum; or instructor permission.
A focus on the impact on the environment of human presence and absence. There is a consideration of various ‘green practices’ that result in both positive environmental impacts and cost savings to industry, and examination of governmental initiatives regarding various business practices and their expected impacts on the environment, on businesses’ bottom lines, and on consumers. Course material emphasizes videos, readings,and guest lectures. Prerequisite: completion of Base Curriculum; or instructor permission.
Provides students with an introduction to engineering in exploration and production, focusing on oil and gas upstream and midstream engineering processes and their interface with land functions. Concepts discussed in this course include: seismic, exploration, well-site selection and preparation, drilling, wellbore integrity, completions, hydraulic fracturing, facilities, separating, treating, processing, transportation, pipelines, and well-site reclamation. Prerequisites: BUAD 305. Prerequisite or corequisite GEOL 101 and GEOL 105; or instructor permission.
This course helps students identify and frame business and other societal problems that are characterized by complexity, uncertainty, volatility, and ambiguity. Students learn to think problems through by understanding the situation and framing problems in new ways that might alter how they generate and evaluate solutions. Prerequisite: ACC 201; BUAD 275; or instructor permission.
The study of the principles of commercial lending to corporate customers by commercial banks. The course will examine the 5 “C’s” of credit, (Character, Capacity, Collateral, Conditions, and Capital), as well as the complete commercial lending function with emphasis on the analysis of corporate financial statements to determine the creditworthiness of commercial loan requests. Special emphasis will be placed on asset-based lending facilities, valuation of collateral, the collection of credit information and its analysis, and the risk-based pricing of commercial loans. Prerequisite: BUAD 360.
An introduction to prototyping - the stage of innovation where ideas come to life. Building prototypes is a low-cost and risk-averse way to get ideas into the hands of the appropriate people. This is an intensive, hands-on learning experience that will equip students to prototype products, services, interactions, and environments. Students learn methods that innovators use to quickly build prototypes, learn best practices for testing those ideas in the field, and collecting real user feedback to iterate efficiently. Prerequisite: BUAD 275.
An extension of Sales I that focuses on the habits and tools professional sellers in the marketplace. Students engage in significant amounts of presentation practice and skill building. In addition to practice, students will be involved in “real” selling experiences at various times during the semester. Prerequisite: BUAD 343.
Prerequisite: completion of Base Curriculum; or instructor permission.
The study of the various risks banks face, not only in day-to-day operations, but potential long term exposure to outside uncontrollable forces including regulatory challenges and changes. Topics such as asset-liability management, interest rate volatility, reserve management, capital adequacy and others are covered. Also covered will be a commercial bank’s interaction with the Federal Reserve. This course will be augmented with cases and the American Bankers Association’s computer simulation game BANKEXEC. Prerequisite: BUAD 360.
For students who have a business concept that they envision pursuing after graduation that they have analyzed and vetted in other courses. The primary focus is to aid those students to get as close to launch as possible, or if already launched to get as close as possible to accelerated growth. Prerequisite: BUAD 275.
A comprehensive case law study of water, addressing the historical development of the riparian and prior appropriation doctrines, groundwater allocation issues, Federal and Indian water rights doctrines, public rights in water and water as a shared resource both intrastate and interstate, together with a brief review of certain environmental laws that specifically address water issues. Prerequisite: BUAD 210.
A study of portfolio management with an emphasis on customizing asset allocation strategies and tactics for the individual and institutional investors. Several financial portfolio optimization models will be studied. The trade-off between risk and return on investments will also be emphasized. Also covered is how asset derivatives and hedges can be applied to either reduce risk, increase profitability, or both. Prerequisite: BUAD 360.
A comprehensive study of oil and gas law & regulations. The course addresses the historical development of the law as it relates to the conservation of oil and gas, the rights and duties of operators and landowners, implied covenants, titles and conveyances, contracts, pooling and unitization, and other oil and gas development issues. Students also learn about the oil and gas regulatory scheme at the federal, state, and local levels. This course analyzes laws and regulations in light of recent technologic advances, such as the emergence of horizontal drilling and hydraulic fracturing. Prerequisites: Admission into The Energy Management Program; BUAD 210, BUAD 305, BUAD 320; or instructor permission.
The focus of this course is the collection, analysis, and interpretation of marketing data for reporting research information necessary to make informed marketing decisions. Students develop skills in defining research problems, designing surveys, experiments, and observational studies, managing data collection, performing data analysis, and communicating results. Prerequisites: completion of Base Curriculum; BUAD 270; or instructor permission. BUAD 335 and BUAD 345 recommended.
The study of financial decision-making theory and practice which deals with major issues in the managing the inflows and outflows of a firm’s funds from the chief financial officer’s (CFO) perspective. Other topics include financial analysis, forecasting financial needs, sources and use of funds, efficient allocation of funds within the firm, firm and security valuation techniques, risk/return decisions, capital budgeting, optimal capital structure composition, and the firm’s relationships with investors, financial markets, and financial institutions. Prerequisite: BUAD 360.
A study of the many investments available for individual portfolios. Emphasis is placed on the risks inherent in investments and the methods and techniques of analysis used in selecting securities for investments. Prerequisite: completion of Base Curriculum; BUAD 360; or instructor permission.
An integration of management functions learned in previous classes into a workableapproach to profitable resort operations. Students are encouraged to take this course during their last semester; graduating seniors are given priority in enrollment. Prerequisite: completion of Base Curriculum; BUAD 331; BUAD 332; BUAD 334; BUAD 337; BUAD 360;or instructor permission. Class will be held at Crested Butte Mountain Resort.
The formal analysis of an organization’s macro and industry environment; its mission and goals; and strategy formulation, implementation, and control. This is a capstone course which integrates the student’s knowledge from the areas of accounting, finance, marketing, and management. Students are encouraged to take this course during their last semester; graduating seniors are given priority in enrollment. Prerequisites: completion of Base Curriculum; BUAD 185; BUAD 333 or 350; BUAD 360; and senior standing.
A singular investigation into a unique problem to be determined jointly by the researcher and the advisor. Prerequisite: completion of Base Curriculum; or instructor permission.
This course provides real world, hands on learning on what it’s like to actually start an organization. Students talk to customers, partners, competitors, as they encounter the chaos and uncertainty of how a startup actually works. Prerequisite: Base curriculum; BUAD 275; BUAD 375; or instructor permission.
Synthesizes previous coursework, focusing on the application of advanced concepts in finance, economics, law, regulatory schemes, mergers and acquisitions, negotiations, contract drafting, geology, engineering, title, leasing and environmental, social, and political issues. Prerequisites: BUAD 305, BUAD 320, BUAD 321, BUAD 360, GEOL 240 prerequisite or corequisite; or instructor permission.
Prerequisite: completion of Base Curriculum; or instructor permission.
A course designed specifically for junior- and senior-level students. Internships provide guided, counseled, and progressive experience under a dual-tutelage program of a businessperson and an academician. An academically monitored activity to assure quality experience. Graded Satisfactory/Unsatisfactory only. Prerequisite: completion of Base Curriculum; or instructor permission.