COURSE AIMS AND OBJECTIVES:
- introducing mathematical models used in business simulations,
2) practical work:
- gaining experience in applying business models and simulations to a real business environment,
- gaining practical insight into management problems and business processes,
- gaining management skills which will be useful in future workplaces,
- practicing analytical skills, teamwork and business communication.
COURSE DESCRIPTION AND SYLLABUS:
1. INTRODUCTION (1 week)
2. PHENOMENOLOGY (6 weeks of lectures, 4 weeks of examples classes)
Business organization and basic business functions. Role of management. Marketing and marketing mix. Accounting and basic accounting reports. Finance. Human resource management. Basic concepts of strategic management.
3. SIMULATION MODELS (8 weeks of lectures)
Use of business simulations. Models of particular business processes (marketing, research and development, operations, accounting and finance, human resource management). Market models (supply, demand, market share, stock value, currency exchange). Model verification and model validation.
4. IMPLEMENTING THE BUSINESS SIMULATION (the simulation is run through 11 weeks of example classes)
Preparing for the simulation: opening a user account, getting acquainted with the simulation, forming teams. Practice rounds of the simulation. Analyzing companies and environment, preparing presentations and strategic plans. Managing a company (8 rounds), analyzing opponents and market status. Preparing and presenting final reports.