Business Administration

After successful completion of this course, students are able to:

• Understand customer behavior and the buying decision process
• Know and master the basic scheme with fundamental elements, methods and processes in sales and marketing module
• Get to know theoretical principles of sales and marketing and is oriented to the 4P concept (product range policy, terms and conditions policy, sales policy, promotional policy)
• Learn more about strategic marketing planning and brand and communication management

Students acquire the following knowledge and capabilities:

• Be aware of the strategic orientation of personnel management and its wealth creation contribution for the company
• Understand human resource management instruments and their application in companies
• Acquire a basic understanding of executive management and collaboration between management and personnel

Throughout the course, students:

• Obtain a conceptual overview of fundamental industrial problems
• Present and understand examples of decisions in specific production situations
• Acquire a holistic understanding of materials management as efficiency-driven, customer-oriented, holistic and integrated with the other management functions
• Be capable of preparing, executing and checking decisions made related to materials and production management in the industrial operation

Throughout the course, students:

• Learn about the role of financial management in a company
• Get to know relevant calculation procedures and an overview of the usual types of financing
• Have a sound understanding of  the financing and investment industry
• Understand, interpret and apply cash flows and capital flows of operational procedures and financing requirements in practice
• Understand the components of the financial and investment industry and their connection to other company processes and services
• Differentiate between the classical and alternative types of financing, gain knowledge of investment procedures
• Gain instrumental competence in calculation of investment alternatives and decision making

By the end of this course stundents are able to:

• Explain the controlling/management accounting conceptions
• Explain how management accounting plays important roles in their decision-making
• Define and explain cost accounting and measurement terminologies and methods as well as cost management systems
• Apply management accounting ideas and practices in making decisions in businesses
• Understand the impact of transfer pricing
• Use the ideas and practices of budgeting in a business decision-making context