BUSINESS STRATEGY AND PLANNING

This course contributes to the Bachelor's Degree Programme main objectives of training undergraduates able to work in private and public organizations, by developing knowledge and skills in the business administration area. In particular, the course provides the theoretical framework and the operational skills needed to apply management tools for business planning and budgeting at different types of companies. The course deals with both the accounting aspects and the organizational implications.

1) Knowledge and understanding
At the end of this course, students are expected to have developed a solid knowledge of the main aspects of the budgeting and business planning tools, such as:
- the role of budget, both from the financial and organisational perspective, and the budgeting process;
- the master budget components (operating budget, cash budget and capital budget);
- the preparatory analyses required by the development of a business plan;
- the contents of a business plan.

2) Applying knowledge and understanding
At the end of this course, students are expected to be able to apply the main planning tools. In particular:
- to prepare a master budget;
- to draw up a business plan, both in its qualitative and quantitative part.

3) Making judgements
At the end of this course, students are expected to be able to critically discuss the nature and uses of budget and business plan.

To attend this course, it is necessary to be familiar with the basic concepts of Economia Aziendale, Bilancio e analisi economico-finanziaria, and Analisi e contabilità dei costi. In particular, students are expected to have knowledge of the calculation and interpretation of financial ratios, cashflow statement structure and analysis, cost–volume relationships, breakeven point analysis.

Budget
- Budget as a management control tool
- The budget functions and uses
- The budgeting process: technical and managerial aspects
- The parts of the master budget and its preparation
- Variance analysis

Business plan
- Strategy and strategic planning
- Business plan objectives and structure
- The qualitative part of the business plan: the revenue-based approach and the cost-based approach
- The quantitative part of the business plan: the financial analysis and the projected financial statement
- Business plan assessment

Budget e Analisi delle Performance
Custom Publishing McGraw-Hill 2021
ISBN: 9781307735154

Cinzia Parolini, Business planning. Dall'idea al progetto imprenditoriale, Pearson 2020
ISBN: 9788891906151

Students' final assessment consists of a written test and an oral test. The written test requires to prepare a budget and to solve some exercises variances. Students who pass the written test will have to take the oral exam, which aims at testing students' knowledge of the basic notions of the subject. Oral exam is generally 7 days after the written test. Students are expected to apply knowledge and thinking skills to problems having no straightforward solutions.

written and oral

The grading system (how the grades will be assigned) is the same for attending or non-attending students:
A. scores in the 18-22 range will be awarded in the presence of:
- sufficient knowledge and ability to understand applied in relation to the programme;
- sufficient ability to apply knowledge and understanding and judgment;
- sufficient communication skills, especially in relation to the use of specific language relating to the subject;
B. scores in the 23-26 range will be awarded in the presence of:
- good knowledge and ability to understand applied in relation to the programme;
- good ability to apply knowledge and understanding and judgement;
- good communication skills, especially in relation to the use of specific language relating to the subject;
C. scores in the 27-30 range will be awarded in the presence of:
- excellent knowledge and ability to understand applied in relation to the programme;
- excellent ability to apply knowledge and understanding and judgment;
- excellent communication skills, especially in relation to the use of specific language relating to the subject.

The course includes lectures during which the theoretical aspects are presented and examples of the analysis tools are carried out.