THE AIM OF THE COURSE

 This course aims to develop skills for mathematical modelling of basic economic, financial, managerial and engineering problems.

Effective management of global supply chain is one of the most important competitive advantage in every organisation. In this course, students will get a knowledge about possibilities to enhance relationship between supplier and customers. by getting lowest cost as possible.

The operations, contracts, finances, and marketing practices businesses depends on all need to be well thought out as well as fully compliant with business law regulations. These regulations are varied and complex, and different laws may apply to businesses depending on its structure.

Annotation

This course is an introduction into the contemporary debate on the changing patterns of the international economy and challenges the world is facing. The course deals with three major aspects of the global economy, firstly the trans-national economic flows, such as trade in goods and services, migration, financial transactions and investment. The problems are discussed before the background of international micro- and macro-economy. The aspects covered are balance of payments dynamics, exchange rate regimes, national income accounting, terms of trade, etc. Secondly the course deals with the downsides of economic globalisation such as the underlying reasons for crises and their effects on the economy, poverty and environmental degradation. Thirdly the course looks at the actors in the global economy: international organizations, national governments, non-governmental organisations, multinational corporations and regional integration initiatives. Hereby the motives, interest and interaction of the actors is scrutinised and furthermore the development of the global economic governance system is discussed.

Aims of the Course

The International Economics and Trade course aims to equip students with necessary analytical tools for analyzing and critically assessing the current dynamics of the international economy and challenges the nation states face in their pursuit of economic welfare. In particular, this course aims to:

• Introduce students to various conceptualizations and theories of (economic) globalization phenomena;
• Analyze global trade and finance governance structures and assess their policies and role in international economics;
• Examine strategies and techniques of trans-national corporations in global economy;
• Discuss the key issues and future challenges for the globalized world economy of the 21st century;
• Identify and exemplify causes and consequences of change in international labour, trade and financial flows;
• Provide the underpinnings of the global financial system;
• Discuss the causes and policy actions surrounding economic crises;
• Give an oral presentation on a selected topic on International economics & trade.

Students will understand and get basic knowledge how to implement computer graphics into drawing various sketches, modules.

Annotation

This course is based on the Harvard CS50x course curriculum – introduction to the intellectual enterprises of computer science and the art of programming. Through the course, students learn how to solve real-life problems in the most efficient way using algorithms. The course introduces problem-solving, which is inspired by the arts, humanities, social sciences, and economics especially. No prior knowledge in programming is required. Students are expected to create a personal final project. The course will examine in depth the programming fundamentals.

Aim of the course

The aim of the course is to learn essential programming skills and get hands-on experience by solving real-life problems. The course aims the need for leaders to understand the principles of IT products’ development for effective decision making.

Learning outcomes

• To be able to process information and operate at multiple levels of abstraction;
• To be able to decompose IT problems into parts and solve them efficiently;
• To be able to demonstrate proficiency in a software development environment;
• To be able to assess the correctness, design, and style of code;
• To be able to evaluate the project’s complexity and estimate required resources.

The course aims to introduce students to the main concepts of law, ethics, corporate social responsibility and sustainable development. The course will not follow any ideology, but will discuss various approaches. Moreover, a focus will be put on the stakeholder theory – the role of employees, consumers and society in a globalized World.

Annotation

This course is the basic macroeconomics course. During it main topics of macroeconomics will be covered. In lectures and seminars students will learn about economic indicators, goods, financial and labour markets, aggregate demand and supply, economic growth, open economy and exchange rate mechanisms, financial and monetary policy. Students in the course not only will learn Macroeconomic concepts and analyze theoretical Macroeconomic models but also will try to solve practical macroeconomics problems in Lithuania and EU.

Aim of the course

This is a course in intermediate macroeconomics, designated for students with knowledge in basic economics. Its objective is to present theoretical knowledge and practical skills required for studying the overall economic structure of a country. Students will know how to analyze the most important macroeconomic phenomena, and the impact of governmental macroeconomic policies on participants in the economy. This course trains skills in comprehension and analysis of macroeconomics policies.

Learning outcomes

• Understand the main theories in macroeconomics.
• Analyze and model macroeconomic phenomena.
• Evaluate governmental fiscal and monetary policy.
• Graphically model macroeconomic situations.
• Relate real economic experiences to theory.
• Identify economic situations at the national and global level.
• Develop researching skills.

Aims of the course

To provide students the fundamental knowledge of current marketing theory and to put backgrounds for market oriented thinking, both strategically as well as tactically. It also aims to train skills in analysing business situations, written and oral presentations. the course is that students will be able to analyze various business situations.

Learning outcomes

• To name major marketing concepts, analyse marketing evolution and its current role in business.
• To analyze and research micro and macro environments, by determining the major marketing threats and opportunities for acting of new business establishment or product.
• To identify market opportunities and propose products or services that meet consumer expectations to the market.
• To name the major segmentation criteria, to identify market segment on the basis of custom segmentation principles, to select target market and the most appropriate market coverage method.
• To adapt marketing mix elements for target market having regard to micro and macro environment, product life cycle and company’s resources.
• To draw basic annual marketing budgets.
• To work in a team, to present work results in written or oral form, to argue decisions.

Annotation

This is an introductory course in finance. Course objective is to provide students with the basic knowledge in finance and to form the background for the further related studies. Course presents students with an overview of financial concepts, terminology, and principles, introduces to the financial management methods applicable to the personal and business practices (including SMEs and companies). Course covers basic financial theories, and their relevance to the financial management and investments. Introduction to finance course combines theory with practical examples, using case discussions and simulations.

Aim of the course

The course objective is to introduce students to the main elements, methods and principles of finance. It will provide basic knowledge and skills applicable to personal and managerial finance. Course starts with the general overview of finance, introduces to financial concepts, instruments, and techniques used in financial decision making. The first part of the course focuses on basic financial data, financial statements, cash flow, also main financial concepts as time value of money, risk and return, interest rates. The second part of the course deals with financial management.

Learning outcomes

• Explain financial system elements and their activities and functions via systemic approach.
• Explain and analyse saving and investing, financial assets, interest rate concepts and their importance in financial market.
• Analyze financial markets and their environment.
• Analyze financial planning process elements in household finance: personal financial life cycle, financial statements and ratios.
• Apply concepts of time value of money to solve various problems.
• Analyze goals of the firm and role of the financial manager in financial decision making.
• Prepare and explain financial statements: Balance sheet, Income statement, Cash flow statement. Evaluate proforma financial statements and budgets.
• Understand and evaluate relationships among financial decisions. Understand difference between short and long financing decisions.
• Work in teams, present work results in writing and oral presentation.

Course description

This course presents an introduction to the development of a technology based product and turning it into the commercially attractive proposition (either via a company or as a service). It covers various elements such as identification of potentially interesting idea/technology, putting a project plan around that idea, assessing competitive positioning and stakeholders, deciding on the additional services and putting an appealing proposition. The course focuses on what resource allocation and development means to firms in today’s competitive environment, and how firms should manage innovation-related activities at the strategic, organisational and managerial levels in order to remain competitive in a fast changing economic and technological scenario.

Aims of the course

At the end of the course students should have a well-described technology-based project in a format ready to submit for funding or present to the interested company.

Learning outcomes

• To be able to recognise and prepare different elements of a project.
• To be able to recognise what constitutes a business model and operations strategy in creating firm’s or project’s competitiveness.
• To be able to recognise and describe the role and place of services in relation to the product.
• To be able to recognise and assess the types and involvement of stakeholders.
• To be able to understand what constitute strategic performance management and measurement and how it could affect company’s innovation strategy.
• To be able to understand how to structure processes in the company as a management tool.
• To be able to structure and perform a technology audit in a company.
• To be able to recognise the key elements needed to successfully describe and prepare a technology or innovation-based idea.

Course annotation

Any organisation can be viewed as a business process that transforms inputs into outputs to satisfy customer needs by providing them what they want, when they want it, and where they want it at a price they are willing to pay. Theoretically, satisfying all these requirements would mean developing, producing, and delivering individually customised products of the highest quality, in the shortest time, and at the lowest cost. In practice, given the organisational capabilities and constraints, trade-offs must be considered, expressed in terms of product (or product portfolio) attributes – cost, quality, variety, and response time. Competition forces organisations to improve their process capabilities to strengthen the product attributes in order to become better than their competitors or to push operational frontier further. Hence, the internship aims to develop the ability of students to diagnose the gap between the product attributes and process capabilities and, secondly, to identify the root causes of the gap and, finally, to determine the possible ways of bridging the gap.

Objectives of the course

1. a) To develop the ability of students to diagnose the gap between the product attributes and process capabilities;
2. b) To identify the root causes of the gap and determine the possible ways of bridging the gap, and, finally, to define the possible problems to be solved in the final bachelor thesis.

Learning outcomes

• To be able to identify primary and supportive processes of an organisation
• To be able to determine the product attributes in relation to the customer segment
• To be able assess the process capabilities in relation to the product attributes
• To be able to identify the root causes of the gap between the process capabilities and product attributes and to determine the ways of bridging the gap.

Course annotation

This course provides an introduction to analysis of economic behavior. The ability to predict market outcomes is indispensable not only for a sound business strategy but also for a meaningful public policy. The main focus of the course is on optimal decision making, understanding determinants of demand and supply, market equilibrium, strategic behavior, and welfare analysis. Introduction to choice under uncertainty and the general equilibrium analysis is also covered.

Aims of the course

The course should teach an analytical approach to the functioning of the market mechanism, economic behavior of market participants, market environment impact on competition, and business strategies. Students should acquire the skills and the ability to apply microeconomic analysis and optimization methods to a large variety of economic problems.

Learning outcomes

• Understand the main theories in microeconomics.
• Analyze and model microeconomic phenomena.
• Evaluate governmental policy as it relates to microeconomics.
• Graphically model microeconomic situations.
• Relate real economic experiences to theory.
• Identify economic situations at the firm and personal level.
• Develop researching skills.

Course description

Engineering fundamentals are essential competence for managers in industry. The course covers necessary engineering knowledge of production process and particular manufacturing operations. After this course students will be able to understand, describe, analyze and select appropriate technology for manufacturing. The course also will familiarize with the conventional manufacturing processes such as metal cutting, stamping, welding, casting and metal adding processes. Course will deliver a knowledge about processing order in technological process.

Course aim

The purpose of this course is to provide an overall introduction and review of manufacturing processes, used equipment, and operation process capabilities, with a strong emphasis on product design, material, process, and equipment selection.

Learning outcomes

• To understand and describe main manufacturing process using mechanic and non- mechanic technology.
• Be able to analyze different technologies, their technical and economic aspects and to choose right technology to achieve set characteristics of a product.
• To describe the main principles of mechanization of production and to estimate its feasibility.
• To understand and describe how end products are stored, transported, to estimate technical and economic influence of those processes to product quality and price.

Annotation

This course covers full range of introductory topics in Physics giving theoretical and practical background in the field. Students completing introductory Physics courses are expected to show a mastery of basic material, both in terms of concepts and problem-solving skills, especially in mechanics, thermodynamics, electricity and magnetism, optics, all needed for continuing success in life science disciplines or engineering or physics.

Aim of the course

To provide students with knowledge about classical and modern physics and form their practical abilities to apply fundamental nature laws.

Learning outcomes

• Have a working knowledge of classical mechanics and its application to “standard” problems such as linear and rotational kinematics and dynamics.
• Have a working knowledge of basics of oscillations, waves and sound.
• Have a working knowledge of basic thermodynamic principles and relation with molecular kinetic theory.
• Have a working knowledge of basic electrostatics, electrodynamics, and magnetism.
• Have a working knowledge of atomic material structure of solids, liquids and gasses and radiation interaction with matter.

Course annotation

This course is a comprehensive introduction to relational database management using Microsoft Access. The focus is on application of database tools for data collection, querying and reporting. Students will be expected to become fluent in database concepts such as tables, relationships, queries, filters, sorts, forms, and reports. Students will learn how to create and manage database, query database using SQL language, and import/export data. Additionally, capabilities of data visualization and analysis using PowerPivot (in Microsoft Excel) or Radiant (in RStudio) will be introduced. The format encompasses lecture/demonstration and hands-on assignments. Step-by-step instructions with example data will be supplied. Students will be encouraged to apply the knowledge and skills learnt in class to their own data, culminating in homework report.

Aims of the course

The overall objective of this course is to introduce students to relational database management and equip them with practical knowledge of SQL query language, reports, and capabilities for further data analysis.

Learning outcomes

• Be able to explain the advantages and disadvantages of the database as opposed to file-based approach of data processing.
• Have a good understanding of the terminologies and concepts associated with database management systems.
• Be able to implement the database design and maitenance tasks, like creating tables and forms, editing/inserting records, etc.
• Be able to access and manipulate data in relational database using SQL query language, generate customized reports.
• Demonstrate the ability to organise data for further analysis.

Final Bachelor Thesis (FBT) is independently prepared thesis which summarises the knowledge, abilities, and skills acquired during the studies and serves as substantiation of the business management qualification awarded. In terms of content and analysis methods, FBT unite, both directly and indirectly, the subject matters of different academic subjects into a totality. The FBT should address topical problem of an industrial organisation, where the “problem” is understood as the pursuit of the strategic goal of the organisation.

FBT is prepared during the 8th semester of studies and grants 12 ECTS credits. Thesis may be prepared in English.

Course description

This is an introductory course of statistical data analysis, designed for the students of the Economics and Politics program. The material covered in the course includes methods of data collection, analysis, presentation of results as well as the use of statistical data analysis software, SPSS^®. The course encompasses methods of descriptive statistics, statistical estimates, data comparison hypothesis testing, correlation as well as regression analysis. During the laboratory sessions students will learn to use the statistical data analysis software, SPSS^®, types of data, user tools, as well as procedures for data analysis and presentation. Statistical methods and SPSS^® software will be applied to the analysis of concrete economic and political data.

Course aim

The goal of the course is to provide students with the theoretical knowledge and practical skills necessary for the analysis of economic and political data.  At the end of the course the students should be able to identify and apply the key methods of data analysis, carry out the analysis using specialized software, and to interpret the results.

Learning outcomes

• To understand the basic terminology used in statistics.
• To understand the basic principles of descriptive statistics.
• To understand the basic concepts of probability.
• To understand the basic principles of inferential statistics.
• To be able to utilize the correct statistical test based on sample, and hypothesis.
• To understand the difference between parametric and nonparametric tests.
• To be able to apply basic descriptive statistics to an available data base.
• To be able to apply the appropriate basic inferential statistics to the decision making process.
• To be able to make generalizations about a population based on a sample from that population.
• To be able to apply statistical techniques to evaluate basic business hypothesis.

Course Description

Entrepreneurship by Design provides a framework whereby students working in small and agile teams will (1) learn a repeatable process to successfully start a company; (2) acquire and apply skills in ideation, creativity, problem identification, and design methods, to learn to create, deliver and capture value in a startup venture context; (3) learn to successfully motivate resources such as team members, funders, advisors, and mentors; and (4) make measurable progress in taking an idea toward a real business. The course will provide students with a set of resources that will help them launch a new business venture. Where appropriate, the course will include discussions of ethics in entrepreneurship. The skills learned can be applied in a startup or in working for a company.

Aims of the course

The course aims to emulate the process of building a startup using modern startup tools and design methods. The course aims to provide students with the opportunity to identify a real, meaningful problem. The course aims to provide students with an opportunity to develop a plausible solution. The course aims to give students the opportunity to engage real prospective users and customers with their own proposed solution.  Finally, the course aims to teach the students to present their new venture idea in the form of a compelling startup funding presentation.

Learning outcomes

• To understand the theory and practice of entrepreneurship.
• To understand and develop an entrepreneurial mind set.
• To apply a repeatable process to create a valid business idea.
• To present a business model and startup venture opportunity in a compelling way.

Course description

This course provides a general introduction to operations management, which is the management of the recurring activities of a firm. Together with finance and marketing, operations is one of the three primary functions of any firm. Students are familiarised with conceptual analyses of business processes and methods for improvement in all major areas of operations, starting with operations planning, implementation, and control, and ending with operational improvements. The on-site exploration of manufacturing process is arranged within the course.

Course aim

The aim of this course is to familiarize students with the principal operational issues that confront managers, and provide students with language, concepts, and tools to deal with these issues in order to gain competitive advantage through operations. Also, this course aims to develop skills for modelling, analysis, and techniques for performance improvement of business processes.

Learning outcomes

• Ability to operate the main concepts, laws, and techniques of business process management.
• Ability to apply these concepts, laws and techniques in business process modelling.
• Ability to analyse the process models and control process drivers to improve performance of any business process.
• Ability to see an organization as a system of interrelated processes.

Course description

The course introduces the phenomena of innovation management and its importance for the competitiveness of the firm. The course provides with insight into how individuals, teams, company culture, environment and leadership interplay in innovation processes. The course is based on numerous practical real-life cases, examples and managerial tools. It develops innovation processes assessment and management skills as well as skills of applying proper routines, strategies and policies. The course is an overview of creative human capacities and creative processes towards innovation.

Course aim

The general aim of this course is to focus on how firms should manage innovation-related activities at the strategic, organizational and managerial levels in order to remain competitive in a fast changing economic and technological scenario. The specific aims of the course include the following:

• building students’ creative confidence and intelligence;
• preparing students to engage in innovation processes with professional awareness and skills;
• familiarising them with the main current issues of innovation management in business practices;
• providing insight about new trends in innovation management.

Learning outcomes

• To be able to recognize and to describe the different sides of innovation.
• To be able to recognize what are the main parts of an innovation strategy.
• To be able to describe what are the main organizational antecedents of innovation.
• To be able to recognize what are the main sources of innovation.
• To be able to see the big picture from corporate perspective.
• To be able to relate to internal organisational and individual development.

Course description

This course provides a balanced analysis of e-commerce theory and business strategies. The first half of the course focuses on e-commerce models and their applicability in practice. Second half of the course aims to investigate how businesses are using e-commerce tools to achieve success. Mainly HBR articles and case studies will be used as reading materials. Students will be encouraged to apply newly developed skills to develop individual or team projects.

Course aim

The course is intended to provide knowledge for students to discuss critical issues that determine the success of e-commerce projects. Students will be able to identify different e-commerce models and apply them in practice. E-marketing and its effect on customers will be also touched during this class. Therefore by the end of the course students will be able to come up with ideas and initiatives to better plan, develop, manage and operate effective and efficient e-businesses.

Learning outcomes

• Provide students with basic understanding of e-commerce concepts, its evolution.
• Enhance students abilities to analyze and research e-commerce cases, to identify major demand-side threats and opportunities for acting of new business establishment or product.
• Enable students to identify e-commerce opportunities.
• Enable students to start own e-commerce projects.
• Expand students understanding about the role of social marketing.
• To be able to work in a team, to present work results in written or oral form, to be able to argue decision.

Course Description

Organizational Behavior is the multidisciplinary field that seeks knowledge of behavior in organizational settings by systematically studying individual, group, and organizational processes. Organizational Behavior has four essential characteristics: (1) the use of the scientific method that informs research; (2) a focus on three levels of analysis; (3) a multidisciplinary perspective that borrows from psychology, sociology, and quality management; and (4) an orientation toward improving organizational effectiveness and the quality of life at work. The dynamic nature of organizations and significant environmental forces have given rise to rapidly developing topics that promise to ensure that OB will continue to be an interesting field of study.

Course Objectives

The module aims to introduce students to the major organizational concepts and be ready to systematically evaluate and solve problems related to organizational behavior.

Learning outcomes

• Knowledge and its application. Demonstrate and apply critical understanding of the contemporary OB knowledge.
• Research skills. Gain skills how to synthesize theoretical knowledge of OB and undertake a sustained piece of empirical research.
• Special abilities. Be able to analyze the organizational capability to perform successfully and provide recommendations for management opportunities.
• Social abilities. Adhere to the principles of professional ethics and citizenship participating in discussions on relevant academic issues. Be able to lead the team and be accountable for its performance.
• Personal abilities. Develop personal and professional abilities, critical thinking, and creativity.

Annotation

This is main course of managerial accounting. During lectures and practices students will learn to understand the importance of accounting information, which is main input for corporate decisions regarding new product development, pricing strategy, performance evaluation, etc. This course covers cost accounting, which provide main data to management accounting, and management accounting, which concerned with the measurement information to managers. Management accounting course combines theory with practical examples, using case discussions and simulations, exercises. Course starts with the general overview of cost and management accounting, introducing basic terms and concepts. The next building block consists of presentation of different costing systems. The last part of the course deals with planning, control and performance measurement issues in the companies.

Aim of the course

The aim of the course is to teach students how to analyze, prepare and provide key data to managers for planning and controlling, as well as make costing for products, services and customers. By focusing on basic concepts, analyses, uses, this course will help to understand, apply managerial tools for business strategy and implementation.

Learning outcomes

• To be able to specify main tasks of management accounting and explain the difference between management and financial accounting.
• To be able to create margin indicators for management accounting decision making.
• To be able to specify the chain of product value creation, estimate the cost of goods using different methods, estimate the influence of service departments on cost of goods, and be able to perform break-even point analysis.
• To be able to specify budget structure and prepare master budget.
• To be able to make variance analysis of operating budgets, identify and explain the meaning of variance analysis importance to control function.
• To be able to make optimal decisions, using the concept of the opportunity costs, actual and relevant information, balanced scorecard techniques.
• To be able to work in teams, present work results in written form and oral presentation, justify and base decisions.

Annotation

Total quality management (TQM) is an introductory course for understanding quality management and its role in today’s management theory and practices. The course will cover quality management theories, concepts, techniques, methods, tools and their practical applications.

Course objectives

After completing the course, students should be able to explain the concepts of TQM, diagnose problems in quality improvement process, identify ethical and unethical behaviors in quality management, apply various quality improvement techniques, explain total quality implementation phases and list the steps that are associated with each phase, propose how business leaders might plan and execute quality management strategies to gain and sustain a competitive advantage in today’s global business arena and communicate why TQM is fundamental for all organizations

Learning outcomes

• Ability to explain the main concepts, methodologies and tools of total quality management.
• Ability to apply the methodologies and tools of total quality management.
• Ability to analyse and evaluate methodologies and tools of total quality management.

Summary

This is a practical course dealing with the mathematical models supporting decision making in various fields of social sciences and practical environment, i.e. management, economics, and politics. In particular, what-if analysis, forecasting, optimization, multi-criteria decision making and data analysis are dealt in the course. Computer spreadsheets are used all over the course.

Objectives

• To develop structural and algorithmic mindset in dealing with operational issues.
• To develop necessary skills for problem formulation, setting goals and parameters of the problem, choosing relevant model, translating it into the spreadsheet, and justifying alternative solutions of the problem.
• To develop skills of data analysis.
• To develop skills of using computer spreadsheets.

Learning outcomes

• To be able to develop a mathematical model for relevant  problems in economics, finance, business and politics.
• To be able to select relevant methods for the analysis of mathematical models, to draw quantitatively justified conclusions and to choose the best alternative.
• To be able to analyze the mathematical model by means of the computer spreadsheet.
• To be able to analyze big arrays of data by means of the computer spreadsheet.

Course Description

Academic works such as paper, term paper, report, thesis and final thesis, annotation, abstract, review as well as their presentation belong to the area of scientific works; therefore, they have to meet general requirements of structure and content. Academic works have to be in high quality of scientific style. This course presents the structure of academic works, and analyzes scientific texts (composing sentences, paragraphs, and the whole text, referring and quotation, etc.). First part of this course is about theoretical requirements of academic writing and the second is about practical training in writing. During the lectures, students also learn how to finalize their academic work under the requirements of ISM University of Management and Economics.

Course Aim

This is a basics course in academic work writing skills for students in the bachelor’s degree programme of studies in economics, management and business administration. Objectives of the course are: 

• Communicate effectively in specific writing situations, which may include various academic, professional, or civic situations;
• Understand and respond appropriately to the critical elements that shape communication situations, such as audience, purpose, and genre;
• Critique their own writing and provide effective and useful feedback to enable other students to improve their writing;
• Demonstrate critical and evaluative thinking skills in locating, analyzing, synthesizing, and using information in writing activities.

Learning outcomes

• Knowledge and its application. Students will identify basic principles of rhetoric and develop an understanding of written texts as arguments generated for particular purposes, audiences, and rhetorical contexts.
• Research skills. Students will be able to employ analytical reading to summarize, paraphrase, draw evidence from, synthesize, and respond to the scholarship of others.
• Special abilities. Students will learn to find and evaluate print and electronic source materials appropriate for academic research projects. Students will be able to develop original arguments for a range of academic purposes and demonstrate critical thinking skills and using information in writing activities.
• Social abilities.  Students will be able to critically evaluate their own and others’ work and collaborate effectively with other writers throughout the writing process.
• Personal abilities.  Students will be able to organise their learning process and work autonomously on writing projects. They should also demonstrate understanding of academic responsibility and integrity.

Course description

Strategic management course focuses on the concept of strategy development and implementation by exploring the functions and nature of general management. Strategic management concepts and techniques are studied. The course serves as an opportunity to develop skills for strategic thinking and analysis, understanding of the major strategic problems of an organization, formulating business level strategies. The pedagogical approach includes lectures, computer simulation, practices, group and individual work by students. This course integrates all the knowledge acquired from various functional courses, coupled with new strategic management techniques learned, to chart the future direction of different organizations into a coherent view of organisation. As such it requires use of materials and knowledge gained during previous studies various disciplines of management.

Course aims

To provide students the fundamental knowledge of strategic management concepts and techniques; to enable students to identify key problem in complex, comprehensive situation. The major responsibility of students in this course to make objective strategic decisions and present well supported recommendations for future action while justifying them through oral and written communication.

Learning outcomes

• To develop an understanding of the elements of the Strategic Management process, research and theories.
• To be able to analyze micro and macro environments; implement an industry analysis and be able to apply strategic evaluation tools to understand how a business is operating.
• To be able to describe and to analyze the impact of economic, social, political, and cultural variables which affect a business operation.
• To learn how to apply the Strategic Management process to real life business cases and develop recommendations to help firms create and sustain competitive advantage.
• To be able to summarize the options available for the company, to defend the recommendations. Evaluate the strategic rationale for each alternative and assume the risks of an organization.
• To be able to work in a team, to present work results in written or oral form, to be able to argue decisions.

Course description

The course covers both the operational (scope, time, cost, quality, human resources, communication, risk, procurement, stakeholders) and the strategic (organizational project management maturity, standards, PMO, portfolio) aspects of project management in organizations. Multiple learning formats are used throughout the course, including lectures, workshops, homework assignments and classroom presentations. During workshops, in an intensive group work environment students develop real-life project plans. Results of the group work are discussed and presented in a predefined format. Learning process also includes analyzing and discussing contemporary project management practices described in academic and professional publications.

Course aim

The course is designed to develop the insights and skills necessary to complete projects effectively, on time, and within budget. It also introduces students to organizational project management process, with special emphasis on its life cycle, and the tools used in managing and delivering projects. Upon successful completion of the course, students should have a solid understanding of contemporary project management and its benefits for their professional and personal life.

Learning outcomes

• Understand basic processes, models, roles and responsibilities of project management.
• Develop project plans to ensure that project outcomes reflect an appropriate organisational strategy.
• Assess the interaction between the various components of a project (scope, schedule, cost, and quality).
• Choose and apply appropriate stakeholder management approach based upon categories of stakeholder characteristics.
• Use leadership techniques for motivating project teams and developing leadership abilities.
• Develop a workable project management approach that includes the typical steps, activities, and participant roles for a project life cycle.
• Apply best practices of project “lessons learned” to ensure continuous improvement of project work.

Course description

This course presents the underlying framework and concepts of Financial Accounting in the context of how accounting fits into the overall business environment of contemporary society.  Financial accounting is the basic means of recording and reporting financial information in a business. Students will learn how accounting functions as an information development and communication system that supports economic decision making and provides value to entities and society. Students will discover the uses and limitations of financial statements and related information and apply analytical tools in making both business and financial decisions.

Course objectives  

The objective of the course is to learn to read, understand, and analyze financial statements. The course adopts a decision-maker perspective of accounting by emphasizing the relation between accounting data and the underlying economic events that generated them. The course focuses initially on how to record economic events in the accounting records and how to prepare and interpret the primary financial statements that summarize a firm’s economic transactions. After having completed the course students should be able to answer below listed learning objectives.

Learning outcomes

• To be able to identify the essential accounting features, goals and be able to implement them.
• To understand accounting process and its organization procedures.
• To be able to account income, expenses, long-term and short term assets, equity, and liabilities. To financial statements correction factors. To be able to distinguish after-balance events and to show them in the financial statements.
• To be able to select accounting policy distinguishing all three aspects: organizational, technical and methodological.
• To be able to prepare financial statements and acquire knowledge and practical skills in keeping accounting in the companies.

Course description

This is an introductory course of basic micro- and macroeconomic concepts, as well as of fundamentals of management theory. Topics include supply and demand theories, market structures/ factors, the determinants of business strategy and various aspects business organization. The course will have a focus on international economics and global business behavior. It will stress on preparing students for a successful career, using economic and business concepts in a market oriented society. It shall also serve as a foundation upon which students can build advanced studies in economics.

Course aim

The objective of Principles of Economics for Business and Management syllabus is to provide students with a basic understanding of how the economy as a whole works. The participants shall be exposed to basic economic concepts, in order to gain a framework for viewing and interpreting the economic and business world around them. This course acts as prerequisite for the Microeconomic and Macroeconomic courses.

Learning outcomes

• Define and explain how basic concepts of microeconomics (such as elasticity, scarcity or choice) can be used to explain the behaviour of individuals, household or firms.
• Represent supply and demand, in graphical form, including the downward/upward slope of the curves and what shifts/moves along the curves.
• To understand the importance of market structures, on the question of the stability and failure of markets.
• Describe and explain how basic macroeconomic policies (such as fiscal or monetary) can be used to analyse the economy as a whole.
• Explain basic management, business and marketing principles to be able to continue studies on a higher level.
• To understand the role of PESTLE factors on the SWOT of corporations, in the domestic and the international business environment.