FUNDAMENTALS OF MANAGEMENT

The course is designed to provide students with an overview of the main concepts that are used in today's business world. Through real-world challenges in various industries, students will learn the basics of management theory and how to apply these concepts to real-world case studies. The course will equip students with the necessary concepts and frameworks to understand the drivers of competitive advantage and make better strategic decisions. By the end of the course, students will be familiar with the key concepts and theories in management and how they can be applied to real-world business situations.

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Knowledge and understanding: Students will learn the main principles of both firm external and internal analysis with the goal to achieve a sustainable competitive advantage. The course is structured to develop know-how and skills that allow students to elaborate and employ original ideas in complex contexts of analysis. Applying knowledge and understanding: as a part of their ongoing and continuous evaluation, students will be asked to apply the theoretical concepts to real case scenarios. To develop their ability to convert theoretical concepts into practice, students will be engaged in active class discussions and face different teamwork assignments. Making judgements: By using the concpets and tools developed students will be trained to manage challenging situations and improve problem solving skills in autonomy. Communication skills: Class discussions and presentations of projects will help students to develop their communication skills. Students will be stimulated to express their viewpoints based on data and adequate theoretical frameworks using appropriate business and economic terminology. Learning skills: Upon completing the program, students will be able to address problems in strategic management. To do so, students will be constantly asked to address the overall complexity of real-life business problems using the theoretical framework discussed in class and applying this knowledge using the data and information taken from reliable resources.

The course aims to examine the foundation of competitive strategy. Initially, students will learn the basics of competitive analysis (external analysis) and then delve into the principles of internal analysis to identify the sources of superior performance by firms. These principles will be applied to various industries and contexts. The course will cover the following topics: The concept of strategy • Goals, values and peformances • Industry Analysis: the fundamentals • Industry Analysis to a specific industry. Business simulation • Internal analysis: firm resources and capabilities • Strategy implementation: Case studies discussions • The sources and dimension of competitive advantage • Industry evolution and strategic change • Vertical Integration: theory and cases • The scope of the firm: principles and applications • Principles of decision analysis • Diversification strategy Case studies discussion and assignement valuations. Wrap-up of the course • Lectures, seminars, case studies discussions and students presentations

Slides, materials, business cases and business news will be listed and made available on the e-learning platform. Attending students will have to read and study: 1) Slides 2) Robert M Grant; Contemporary Strategy Analysis, Wiley, Chapter 1, 2, 3, 5, 6, 7 & 10 3) M. Khan, 2017. Amazon’s Antitrust Paradox, The Yale law Journal, 126(3): Read only page from 746 to 784. Camuffo et al.: Scientific Approach to Entrepreneurial Decision Making, 570 Management Science, 2020, vol. 66, no. 2, pp. 564–586 (no section 4.1/4.2 and 4.3) Non attending students will be tested on the following texts: 1) Slides 2) Robert M Grant; Contemporary Strategy Analysis, Wiley, All, chapters with the exception of Chapter 11 on Global Strategies, business cases included 3) La Porta, R., Lopez‐de‐Silanes, F. and Shleifer, A., 1999. Corporate ownership around the world. The Journal of finance, 54(2), pp.471-517. 4 ) M. Khan, 2017. Amazon’s Antitrust Paradox, The Yale law Journal, 126(3): Read only page from 746 to 784. 5) Camuffo et al.: Scientific Approach to Entrepreneurial Decision Making, 570 Management Science, 2020, vol. 66, no. 2, pp. 564–586 (no section 4.1/4.2 and 4.3).

Traditional teaching through lectures will be complemented by case studies discussions, practical exercises and assignements (group works) and seminars with experts and key figures. Students’ participation during lectures is strongly encouraged.

The exam consists of (i) 1 group assignements that counts 30% for the quality of the project and 10% for the quality of the presentation (overall 40% of the final grade) (ii) 2 short multiple choice exams (mid-term exams) that overall counts for 30% of the final grade (15% each) and (iii) a final written exam. The final evaluation will consider the level of comprehension and familiarity with the basics of strategic management, as well as the knowledge of important principles discussed in class. It will also take into account the ability to think logically and critically, and the proficiency in presenting findings and conclusions in an effective manner. Non-attending students will sustain a 100% exam on the non-attending readings at the end of the course

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