FUNDAMENTALS OF MANAGEMENT

The course aims to offer to students an overview of the main concepts adopted in today business word. Students will learn the basics of management theory and - working through real-world challenges in a variety of different industries – they will also learn how to apply these concepts to real-world case studies. The course will equips students with the concepts and frameworks needed to understand the drivers of competitive advantage and make better strategic decisions At the end of the course, students will handle key concepts and theories in the field of management and how they can be used in real word 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 will explore the basis of competitive strategy. Students will first learn the basic of competitive analysis (external analysis) and then discuss the principles of internal analysis with the goal to identify the sources of firm superior performance. These principles will be applied to many different context and industries. More specifically the course will address 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 • Diversification and Internationalization strategy • Globalization and MNCs organizational models • Principles of Transaction costs economics

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: Slides Robert M Grant; Contemporary Strategy Analysis, Wiley, Chapter 1, 3, 5, 6, 7, 8, 10, 12 & 13 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. Read only page from 471 to 505. L. M. Khan, 2017. Amazon’s Antitrust Paradox, The Yale law Journal, 126(3): Read only page from 746 to 784. C. A. Montgomery, 1994. Corporate Diversification, in Journal of Economic Perspectives, 8(3): pp. 163–178. Non attending students will be tested on the following texts: Slides Robert M Grant; Contemporary Strategy Analysis, Wiley, All chapters business cases included 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. C. A. Montgomery 1994. Corporate Diversification, in Journal of Economic Perspectives, 8(3): pp. 163–178. L. M. Khan, 2017. Amazon’s Antitrust Paradox, The Yale law Journal, 126(3): Read only page from 746 to 784. World Investments Report 2011 – (annual report). From: www.unctad.org. Chapter 4 pg. 124-147

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) few group assignements that count for 30% of the final grade and (ii) a final written exam (70%). The overall assessment will take into account the level of knowledge and understanding of the fundamentals of strategic management; the knowledge of key principles discusses in class; the capacity for thinking, logically and critically; and the capacity to present effectively findings and conclusions.

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