BUSINESS ECONOMICS AND MANAGEMENT OF THE FIRM-2

The course Business Economics and Management of the Firm is a core course within the Business Administration and Management degree programme. The course provides a systematic introduction to the foundations of how firms and economic systems operate, with a focus on the key concepts of modern business, management, and organization.
The aim of the course is to develop a basic understanding of the main economic and managerial processes characterizing firms: from value creation and resource organization to production management and organizational design, as well as firms’ interaction with the competitive and institutional environment. The course integrates economic and managerial perspectives, combining theoretical frameworks with applied examples and business cases.
Special emphasis is placed on contemporary developments in business, internationalization processes, ethics and social responsibility, and the role of organizational and technological innovation. The course is structured into two closely integrated parts, sharing learning objectives, teaching materials, and learning activities.

1) Knowledge and understanding. Students will acquire basic knowledge of the fundamental concepts of business economics and management, and understand how firms, economic systems, and organizations operate.
2) Applying knowledge and understanding. Students will be able to apply theoretical concepts to real-world business situations, including through the analysis of examples and case studies.
3) Judgmental abilities. Students will develop the ability to critically interpret economic and organizational phenomena, comparing alternative explanations and forming independent judgments.
4) Communication abilities. Students will develop communication skills through group work, presentations, and in-class discussions.
5) Learning abilities. The course will strengthen students’ ability to learn autonomously, to use teaching materials critically, and to integrate different sources of knowledge.

Students are expected to have achieved the learning objectives and to have passed (propaedeutic subjects) the exams of "Principles of Management and International Accounting - 1" and "Principles of Management and International Accounting - 2".
In particular, students should be familiar with concepts and methods related to basic management and financial accounting (cost terms and concepts, budget and budgeting process, etc.).

PART I
1. Introduction to business and economic systems
The concept of business and economic systems
Demand, supply, and economic systems
Economic performance and business cycles
2. Ethics, social responsibility, and sustainability
Business ethics
Corporate social responsibility
Sustainability and stakeholders
6. The management process
Planning, organizing, leading, and controlling
Managerial roles and skills
8. Production, operations, and quality
Operations management
Innovation, technology, and quality management

PART II
3. Global business
Foundations of international trade
Modes of entry into foreign markets
Multinational enterprises
4. Forms of business ownership
Sole proprietorships, partnerships, and corporations
Advantages and limitations of different legal forms
5. Entrepreneurship, small business, and franchising
The role of small business in the economy
Entrepreneurship and business planning
7. Organization and organizational design
Organizational structures
Delegation, decentralization, and organizational culture

William M. Pride, Robert J. Hughes, Jack R. Kapoor, Foundations of Business, 7th Edition, Cengage Learning. Chapters 1–8. ISBN-13: 978-0-357-71794-3

Integrative readings will be suggested during the course.

Written exam; no texts or notes allowed. The exam will be written and will cover both parts of the course, with 30 multiple-choice questions (15 on the first part and 15 on the second part; duration: 35 minutes). The questions will assess knowledge of the basic concepts presented in the course, the ability to apply them to examples, and critical understanding of these concepts.
The maximum grade that can be recorded for students who take only the written exam is 26/30. Students who obtain at least a passing grade in the written exam (18/30) may take an oral exam, which allows evaluation up to 30/30 with honors; however, the oral exam may also lower the grade obtained in the written exam.
The final grade will also take into account any group work or case studies offered to students on a voluntary basis, which may be worth up to 2 additional points.

written

Regarding the grading scale (criteria for assigning grades):
A. Scores in the 18-22 range will be assigned in the presence of:
Sufficient knowledge and understanding of the course program;
Limited ability to apply knowledge and formulate independent judgments;
Sufficient ability to communicate using the appropriate technical language of the subject.

B. Scores in the 23-26 range will be assigned in the presence of:
Fair knowledge and understanding of the course program;
Fair ability to apply knowledge and formulate independent judgments;
Fair ability to communicate using the appropriate technical language of the subject.

C. Scores in the 27-30 range will be assigned in the presence of:
Good to excellent knowledge and understanding of the course program;
Good to excellent ability to apply knowledge and formulate independent judgments;
Good to excellent ability to communicate using the appropriate technical language of the subject.
D. Honors will be awarded in the presence of outstanding knowledge and applied understanding of the program, excellent judgment skills, and exceptional communication abilities.

The course is based on classroom lectures, combined with case study discussions and group work activities. Teaching materials (slides, cases, multimedia content) will be made available on the Moodle platform.
During the course, group works will be proposed, to be carried out throughout the entire course (Part I and Part II), consisting of the production of business documentaries aimed at analyzing real-world business cases.

All course materials will be provided in digital format through the Moodle platform, in line with sustainability principles. A student forum is available for discussion and study support.

This subject deals with topics related to the macro-area "Circular economy, innovation, work" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development