This course emphasizes the synthesis of economic theory, decision sciences, and the various fields of business administration studies. It examines how they interact with one another as the firm attempts to reach optimal managerial decisions in the face of constraints. A special emphasis will be made on how managerial decisions are actually made in the real world. The course will increase the effectiveness of decision making by expanding and sharpening the analytical framework used by managers to make decisions.
1. Theory of demand.
1.1. Classical theory of demand.
1.2. Theory of demand that is based on product characteristics.
1.3. Demand estimation and demand forecasting.
1.4. Business case-Metabical.
2. Production and costs.
2.1. Cost advantages.
2.2. Optimization and supply of the firm.
2.3. Costs analysis for business decisions.
2.4. Business case-Outsourcing opportunities for small businesses: A quantitative analysis.
3. Internal organisation.
3.1. Behavior of firms and their goals.
3.2. Case-Behavior of firms in countries of former Yugoslavia.
3.3. Markets of asymmetric information.
4. Vertical boundaries of the firm.
4.1. The firm in a vertical chain.
4.2. Costs and benefits of vertical integration.
4.3. Model of vertical integration.
4.4. Business case-Nucleon.
5.1. Measures and reasons of diversification.
5.2. Strategic styles of diversified firm.
5.3. Business case-Kolektor.
5.4. Business case-Martifer.
6. Market structures.
6.1. Entry and exit.
6.2. Business case-Ryanair.
6.2. Strategic commitment and game theory.
6.4. Business case-Cartel in Turku area?
7. Pricing policy.
8. Strategic positioning and comparative advantages.
8.1. Comparative advantage.
8.2. Strategic posistioning.
8.3. Sustaining comparative advantage.
8.4. Business case-Apple.
9. The role of intangible capital in the firm and in the economy and economic crisis.
9.1. The role of intangible capital.
9.2. Economic crisis.
9.3. Business case--The Greek Crisis: Tragedy or Opportunity?