FUNDAMENTALS OF MANAGEMENT

The course familiarizes students with the fundamentals of management theory and practice. It combines basic concepts from economic theory of the firm and industrial organization with ideas from modern strategy literature. Students get to know the key economic concepts to develop sound business strategies. The course offers real-world applications to make the theoretic concepts more relevant.

Basic knowledge of economics, competitive strategy, organization and finance.

Knowledge and understanding: The student - by participating in the lectures and practical activities of the course - will have developed the ability to understand the fundamental management and strategy issues surrounding the firm. At the end of the course there will be a written test on the most fundamental management concepts and theories. Applying knowledge and understanding: The student - acquiring the correct tools and method - will be able to interpret, apply and present the reference interpretative models, but also develop practical assignments as well as a group project work. At the end of the course there will be the presentation of the group project work and a written test where the student applies management concepts to real case scenarios. Making judgements: The student, through the use of the methodologies acquired during the course, will have acquired problem analysis skills and the ability to identify the information necessary for their solution. Specifically, critical thinking, problem solving, self-management, teamwork, relationship and communication skills will be adequately developed, which enhance and make the disciplinary skills more usable. Communication skills: At the end of the course the student will be able to use the technical vocabulary of management and strategy of the multinational firm, addressing the legal issues at hand with terminological accuracy. Through the various activities that will take place during the course – lessons with discussion, class assignments, case study analyses and simulation game, and a group project work– the student will be able to put these communication skills into practice in various contexts, by adapting the terms used to the interlocutor in the specific case, thus gaining advanced rhetorical skills necessary for his/her professional management career. Learning skills: The technical-economic knowledge acquired during the course will allow the student to autonomously understand and interpret corporate management and strategy techniques and adapt them to the specific reference context. The student will develop a solid knowledge of the fundamental aspects of the subject that will allow him to continue to deepen the topics addressed independently and to undertake the various post-graduate professional training courses in the field of global business and management.

The Horizontal Boundaries of the Firm. The Vertical Boundaries of the Firm. Integration and Its Alternatives. Market Entry and Exit. Industry Analysis. Resources and Capabilities. Institutions. The External Environment. Organization Design. Culture. Diversification Strategy.

• Besanko, D.; Dranove, D.; Shanley, M.; Schaefer, S.: Economics of Strategy (6th. Ed. International Student Version). J. Wiley & Sons, Singapur, 2013. • Peng, M., Global Strategic Management, South-Western College Pub, International Edition, 3rd Edition, 2014. • Additional literature provided at learning platform

Each week topics on economics and management are discussed, based on the course’s main literature. In addition, students will analyze and discuss case studies in class. Practical classroom exercises will deepen the theoretic understanding of the course. A written group project work will be elaborated during the course period and presented in class.

(1) Written exam with open questions (50%); (2) Written group project work (30%) (3) Group work presentation (10%) (4) Classroom exercises & case studies (10 %) (5) Individual contribution to classes (0-2 additional points)

Research proposal

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