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Gavin Walton
- July 21, 2024
Hey there, future business whiz! If you find yourself reading this, you most likely are preparing to face the Study.com Business 100: Intro to Business course that recognized that this was a healthy step to take towards eradicating rampant dishonesty. Perhaps you are more concerned with the final proctored exam or perhaps you would just like some tips for getting that A in the class. Regardless of which category you find yourself in, you are in the right place. Study.com Business 100: Intro to Business course is aimed at providing you with the basics of doing business. Notably, this course will benefit anyone who wants to own a business, advance in his or her career, or simply gain an understanding of enterprise. From the big picture of global markets and leadership to specifics of human resources and basic business operations, you’ll get the inside scoop on all the key functions that drive the business milieu.
Now, I know what you’re thinking: Ah, business? You know, that seems too complicated! Well, worry no more, our approach here is to simplify, and even make the understanding quite fun! Therefore, sit tight and belt up for a ride that is not only going to make you pass your final exam but also one that can make you pass real-life tests. This course is deliberately designed to make you feel sure and ready in every way possible. Study.com combines formal lessons in videos, quizzes, flashcards, and real-life examples of learning, making education in this source unique helps to make certain that you are not only learning the information scrupulously but comprehending the subtleties. This guide is your study companion – it is designed to walk you through the steps of writing and using academic arguments. Ready to dive in? Great! Okay, here we go, into this amazing tour of this wide world of business.
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What to Expect from Business 100 Class 📖
Alright, so you’ve decided to dive into the Study.com Business 100: Intro to Business course. Great choice! But what exactly are you getting yourself into? Let’s break it down.
The Course Objective
The main goal of this course is to give you a broad understanding of the business world. You’ll learn about:
- Global Markets: How businesses operate on an international scale.
- Leadership: Different leadership styles and their impact on businesses.
- Human Resources: Managing people, from hiring to motivating employees.
- Business Operations: The nuts and bolts of running a business efficiently.
Scoring Policy
Your final grade will be based on quizzes and a proctored final exam:
- Quizzes: Worth 100 points, you’ll take these after each lesson to test your understanding.
- Proctored Final Exam: Worth 200 points, this cumulative test ensures you’ve mastered the material.
To pass the course and earn college credit, you need at least 210 points out of 300, which translates to a 70% overall grade. Don’t stress – with the right preparation, you’ll be well on your way to success.
Topics Covered
Here’s a sneak peek at some of the key topics you’ll delve into:
- The Dynamic Business Environment: Know the various types of macro environments that affect businesses which include; economic, legal, technological, competitors, socio-cultural, and global.
- Social Responsibility and Ethical Behavior: Known the concept of business ethics and the role of business in society.
- Economics and Business: Understand the underlying concepts of economics, types of markets and elements of Gross Domestic Product, Business cycle, etc.
- Forms of Business Ownership: To find out what are the benefits and drawbacks of various forms of doing business like sole trader, partners, and companies.
- Entrepreneurship and Small Business: Discuss the nature and importance of entrepreneurs as well as the importance of small businesses in the economy.
- Managing and Leading in Business: Understand fundamental management competencies, planners, and leadership cadres.
- Workplace Productivity & Motivation: Find out more about motivational theories and motivational solutions with a view to increasing productivity.
- Product Development and Retailing: Learn about the creation of new product ideas and getting them to the consumer.
- Human Resources: Submersion with this great opportunity allows us to explore the concept of hiring, performance evaluations, and rewards for employees.
- Financial Management: Discover more information about how you could possibly control a firm’s operation, such as working capital, funds, and capital acquisition.
Remember, this course is designed to build your knowledge step-by-step. Each lesson builds on the previous one, so stay consistent with your studies. By the end of the course, you’ll have a comprehensive understanding of the business world, and you’ll be ready to ace that final exam.
Week-by-Week Study Plan to Ace Business 100 Exam 📝
All right everybody; it is time to get serious, and get into business. Preparation is the key to success in the Study Here is the weekly plan that will assist you in staying organized and prepare you to succeed in the Study: As a student of study.com Business 100: Intro to Business, We have understood that the final examination will consist of the following. This plan helps you not to get lost in the whole amount of materials involved in the course without feeling overwhelmed. Ready? Let’s go!
Week 1: Get Started with the Basics
- Tasks: Watch the introductory videos and familiarize yourself with the course layout. Begin with Chapter 1, “The Dynamic Business Environment.”
- Key Focus: Understand how various environments (economic, legal, technological, competitive, social, and global) impact businesses.
- Extra Resources:
Week 2: Dive into Social Responsibility and Ethics
- Tasks: Complete Chapter 2, “Practicing Social Responsibility and Ethical Behavior in Business.”
- Key Focus: Learn about business ethics, social responsibility, and the development of a code of ethics.
- Extra Resources:
Week 3: Explore Economics and Business
- Tasks: Study Chapter 3, “Economics and Business.”
- Key Focus: Get to grips with basic economic principles, market structures, and economic indicators like GDP and the business cycle.
- Extra Resources:
Week 4: Understand Forms of Business Ownership
- Tasks: Complete Chapter 4, “Forms of Business Ownership.”
- Key Focus: Discover the pros and cons of different business structures such as sole proprietorships, partnerships, and corporations.
- Extra Resources:
Week 5: Learn about Entrepreneurship and Small Business
- Tasks: Study Chapter 5, “Entrepreneurship and Small Business.”
- Key Focus: Explore the role of entrepreneurs and the significance of small businesses in the economy.
- Extra Resources:
Week 6: Dive into Management and Leadership
- Tasks: Complete Chapter 6, “Managing and Leading in Business.”
- Key Focus: Study essential management skills, planning processes, and leadership styles.
- Extra Resources:
Week 7: Focus on Workplace Productivity & Motivation
- Tasks: Study Chapter 8, “Workplace Productivity & Motivation.”
- Key Focus: Learn about motivational theories and strategies to boost productivity.
- Extra Resources:
Week 8: Understand Product Development and Retailing
- Tasks: Complete Chapter 10, “Product Development and Retailing.”
- Key Focus: Understand the process of developing new products and bringing them to market.
- Extra Resources:
Week 9: Delve into Human Resources
- Tasks: Study Chapter 13, “Basics of Human Resources.”
- Key Focus: Dive into hiring practices, performance appraisals, and employee compensation.
- Extra Resources:
Week 10: Learn Financial Management
- Tasks: Complete Chapter 24, “Financial Management in Business.”
- Key Focus: Learn about managing a company’s finances, including budgeting, investment decisions, and financing options.
- Extra Resources:
Week 11: Review and Reinforce
- Tasks: Revisit any challenging chapters and ensure you understand the key concepts.
- Key Focus: Take practice quizzes, review flashcards, and go over notes.
- Extra Resources:
Week 12: Final Prep for the Exam
- Tasks: Take the practice exam on Study.com and review any weak areas.
- Key Focus: Ensure you’re confident with all the material. Rest well before the exam day!
- Extra Resources:
With this week-by-week plan, you’ll be well-prepared to tackle the Business 100: Intro to Business final exam. Remember, consistency is key. Study a little each day, and you’ll find that the information sticks better.
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Free External Resources to Study📂
While Study.com has offered full materials for the Business 100 course, you can find a lot of additional information online that helps familiarize yourself with the subject for free. Below are some more useful resources you may access from outside the class to get a better idea of certain concepts and prepare better for your studies.
YouTube Channels and Playlists
- CrashCourse: This channel offers a wide range of educational videos, including business topics. Check out their CrashCourse Business playlist for quick, engaging explanations.
- Khan Academy: Known for its high-quality educational content, Khan Academy’s Entrepreneurship playlist covers many relevant topics.
- TED-Ed: TED-Ed’s Business playlist features thought-provoking talks and animations that delve into various business concepts.
Quizlet Flashcards
- Dynamic Business Environment: Quizlet Flashcards
- Social Responsibility & Ethics: Quizlet Flashcards
- Economics & Business: Quizlet Flashcards
- Business in Global Markets: Quizlet Flashcards
Articles and Tutorials
- Investopedia: This site is a treasure trove of financial and business-related information. Articles like Introduction to Management and Understanding Financial Statements can be very helpful.
- Harvard Business Review: HBR provides insightful articles on management and leadership. Check out their Leadership articles for more in-depth knowledge.
Free Online Courses
- Coursera: Although many courses are paid, Coursera offers free access to audit courses. Look for business-related courses such as the Introduction to Financial Accounting from the University of Pennsylvania.
- edX: Similar to Coursera, edX provides free courses on various topics. Consider taking Introduction to Business Management offered by King’s College London.
Websites for Practice Questions
- Quizizz: You can find practice quizzes on various business topics that can help you prepare for your exams. Visit Quizizz Business Quizzes.
- Study.com: Beyond the core content, Study.com has numerous practice quizzes and flashcards. Use these to test your knowledge regularly.
To build upon the knowledge described in this article, you can use these resources to make the learning experience richer and more challenging. Study.com materials and these sources of information outside the Business 100 course placements will give you a good grounding for acing the course.
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Key Topics to Focus On 🔑
To assist you in scoring high in the Study.com Business 100: Intro to Business exam, here are some important areas that you must study. I will then divide these topics into segments that are easy to grasp, and spar parts of these topics in order to explain the differences between them, and also give examples for reinforcement.
Dynamic Business Environment
- Key Concepts: Economic and legal environment, technological environment, competitive environment, social environment, global business environment.
- Real-World Example: Think about how companies like Uber have disrupted the transportation industry (technological environment) and how they must navigate different regulations in various countries (legal environment).
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Environment Type
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Description
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Example
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|---|---|---|
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Economic
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Factors like unemployment, inflation, and taxes
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High unemployment rates during a recession
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Legal
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Laws and regulations affecting business
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GDPR regulations in the EU
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Technological
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Innovations that impact business processes
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Rise of e-commerce platforms
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Competitive
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Market competition and strategies
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Amazon vs. Walmart
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Social
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Cultural values and practices
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Shift toward remote work culture
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Global
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International trade and market dynamics
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Tariffs on imports and exports
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Social Responsibility and Ethical Behavior
- Key Concepts: Business ethics, code of ethics, social responsibility.
- Real-World Example: Consider how Patagonia integrates environmental sustainability into its business model, reflecting its commitment to social responsibility.
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Ethical Theory
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Principle
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Example
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|---|---|---|
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Utilitarianism
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The greatest good for the greatest number
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Implementing eco-friendly manufacturing processes
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Deontology
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Duty-based ethics
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Ensuring fair labor practices regardless of cost
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Virtue Ethics
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Focus on character and virtues
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Promoting honesty and transparency in advertising
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Economics and Business
- Key Concepts: Supply and demand, market structures, economic indicators.
- Real-World Example: The impact of the COVID-19 pandemic on supply chains and how businesses adjusted their operations accordingly.
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Market Structure
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Characteristics
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Example
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|---|---|---|
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Perfect Competition
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In many firms, identical products
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Agricultural markets
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Monopoly
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One firm dominates
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Local utility companies
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Monopolistic Competition
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In many firms, differentiated products
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Fast food restaurants
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Oligopoly
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Few large firms
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Automobile industry
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Forms of Business Ownership
- Key Concepts: Sole proprietorship, partnership, corporation, limited liability company (LLC).
- Real-World Example: Comparing how a small family-owned bakery (sole proprietorship) operates differently from a large corporation like Google.
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Ownership Type
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Advantages
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Disadvantages
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|---|---|---|
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Sole Proprietorship
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Full control, easy to start
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Unlimited liability, limited resources
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Partnership
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Shared resources, expertise
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Joint liability, potential conflicts
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Corporation
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Limited liability, easy to raise capital
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Complex to establish, double taxation
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LLC
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Limited liability, flexible tax options
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Can be more expensive to set up
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Human Resources in the Workplace
- Key Concepts: Recruitment, performance appraisal, employee compensation.
- Real-World Example: How Google uses innovative hiring practices and comprehensive performance reviews to attract and retain top talent.
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HR Function
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Description
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Example
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|---|---|---|
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Recruitment
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Attracting and selecting candidates
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Google's rigorous interview process
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Performance Appraisal
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Evaluating employee performance
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Annual reviews with 360-degree feedback
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Compensation
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Providing wages and benefits
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Competitive salaries and extensive benefits packages
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Financial Management in Business
- Key Concepts: Debt vs. equity financing, financial planning, budgeting.
- Real-World Example: How Tesla has used both debt and equity financing to fund its growth and expansion.
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Financing Type
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Description
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Example
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|---|---|---|
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Debt Financing
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Borrowing money to be paid back with interest
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Issuing corporate bonds
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Equity Financing
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Raising capital by selling shares of the company
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Initial public offering (IPO)
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Budgeting
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Planning income and expenses
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Annual budget planning for departmental expenses
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By focusing on these key topics and using the provided examples and comparisons, you’ll have a solid foundation to excel in your Business 100 course and ace the final exam.
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FAQ❓
Q: How is the course structured?
A: The course consists of 26 chapters, each divided into several short video lessons. Each lesson is accompanied by a quiz to test your comprehension. At the end of each chapter, there’s a chapter test to ensure you’ve grasped the material. After completing all chapters, you can take the practice test and use study tools to prepare for the final proctored exam.
Q: How is the final grade calculated?
A: Your final grade is calculated out of 300 points. Quizzes make up 100 points, and the proctored final exam accounts for 200 points. To pass the course and earn college credit, you need a minimum score of 210 points or 70%.
Q: What should I focus on to pass the final exam?
A: Focus on understanding the key concepts covered in each chapter, as highlighted in the “Key Topics to Focus On” section of this guide. Use the week-by-week study plan provided to ensure you cover all material thoroughly. Make use of external resources for additional practice and clarification of complex topics.
Q: Can I retake quizzes and the final exam?
A: Yes, you can retake each quiz up to three times, and your highest score will be recorded. If you are unsatisfied with your score on the final exam, you can retake it after a 3-day waiting period, but you can only retake the final exam twice.
Q: What items are allowed during the proctored final exam?
A: During the proctored final exam, you are allowed to use blank scratch paper and a pen or pencil. However, you cannot use office programs, web browsers, textbooks, mobile phones, headphones, or any calculators.
Q: How can I best use external resources to study?
A: External resources can provide additional explanations and practice for difficult concepts. Utilize YouTube channels like CrashCourse and Khan Academy for visual and engaging explanations. Use Quizlet flashcards for quick reviews and practice quizzes. Websites like Investopedia and Harvard Business Review offer detailed articles on various business topics.
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Conclusion📄
Congratulations on getting to the end of our guide on how to excel in the Study.com Business 100: Intro to Business course! As a result, the information provided entails not only the general description of the course and its main themes but also a detailed plan of the course study split by weeks and lists of external sources. Success in this course is unfortunately not obtained through simple luck or good fortune of guessing but rather from studying this material, engaging in the readings, participation in this course, and utilizing the tools provided.
The best advice given by the students was to study the material at least twice, take quizzes, and if there are complicated topics, refresh them. Organization becomes important, stick to schedule and don’t be ashamed to ask for help if you need it. This way you will be set for the final proctored exam and will be en route to college credits with dedication and effort.
We believe this guide benefited you and you are filled with confidence to face the course. All the best in your academics, and have a pleasant learning process!
