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Business simulations

Code: 63373
ECTS: 5.0
Lecturers in charge: mr. sc. Dražen Penzar
Lecturers: Ante Jelčić - Exercises
Mario Radaković - Exercises
English level:


All teaching activities will be held in Croatian. However, foreign students in mixed groups will have the opportunity to attend additional office hours with the lecturer and teaching assistants in English to help master the course materials. Additionally, the lecturer will refer foreign students to the corresponding literature in English, as well as give them the possibility of taking the associated exams in English.

1. komponenta

Lecture typeTotal
Lectures 30
Exercises 15
* Load is given in academic hour (1 academic hour = 45 minutes)
1) theory:
- 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.

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.
3. semester
Izborni predmeti 4 i 5 - Regular study - Financial and Business Mathematics
Consultations schedule: