TTA-11017 Basics of Industrial Management, 5 cr
This course sets the stage for management studies and provides a solid foundation for more advanced studies in industrial management. After the course, students understand how technology-driven, industrial-scale operations provide goods and services efficiently to the society while, at the same time, make profit for the owners. Understanding of value creation and its relationship to the success of business organisations forms the cornerstone of the course.
|Content||Core content||Complementary knowledge||Specialist knowledge|
|1.||UNDERSTANDING 2B2 ENVIRONMENT Customer value key to profitable business -supply and distribution networks -customer value -income statement and balance sheet -competitive advantage -contribution costing||-evaluating/quantifying customer value in practice|
|2.||FROM IDEA TO A PROFITABLE BUSINESS Development of offering -product life cycle -competition -money flow in product development Bookkeeping -principles of double-entry bookkeeping -closing and re-opening the books -inventory, receivables and payables Marketing process -segmentation in B2B and B2C contexts -target market, differentiation and positioning -sales process in B2B markets||-estimating payback period of a new process innovation in practice -3D printing as a communication tool in product development -segmentation in B2B markets in practice|
|3.||SCALING UP THE BUSINESS Expanding the business -product-market matrix -different ways of exporting -cost and capital planning -venture capital Building and managing the organisation -developing organisational structure -defining systematic processes -cost and profit centres -full costing||-challenges related to starting exports in practice -building management reporting system and dashboards for KPIs in practice|
|4.||SUCCESSFUL EXIT Business environment in the knowledge economy -management and leadership in the future -focus on core competencies and outsourcing -knowledge-intensive services and gamification -successful exit||-cultural differences in management and leadership|
Instructions for students on how to achieve the learning outcomes
Studying for the week exams by (1) reading the book chapter, (2) doing the exercises and (3) reading the selected articles.
Numerical evaluation scale (0-5)
Correspondence of content
|TTA-11017 Basics of Industrial Management, 5 cr||TTA-11016 Basics of Industrial Management, 4 cr|