The course focuses on basic concepts and models to understand and handle economic, organisational and management issues in technology-based and industrial activities, as an engineer.
Module 1: Industrial value creation
- Technical development as a competition factor
- Technology-based business models and strategies
- Innovation, production and marketing
- Organisation
- Human resource management and leadership
Module 2: Calculation
- C/I (Cost/Income) analysis
- Product calculation
- Capital budgeting
Module 3: Reporting and the company's funding
- Bookkeeping and accounting
- Annual report and financial analysis
- The company's funding
The course consists of lectures and calculation exercises (in module 2 and 3) and is examined through three quizzes (each 1.5 higher education credits). The grades on the quizzes are combined to a final course grade.
Engineering work is about more than technology. As an engineer, to be able to participate in technology-based businesses, to carry out projects, to develop activities, as well as to lead teams and co-workers in companies of today, good knowledge of industrial management is required. In practice, the success often relies on understanding both the technical and the economic aspects of decisions. This course gives you basic knowledge in industrial management.
Concretely, this implies that you on completion of the course should be able to:
1. Describe and explain different technology-based business models and the dynamics of value creation, value proposition and value capture in industrial enterprises
2. Describe and explain how industrial operations are led and organised
3. Select, use and interpret economic calculations as a basis for decision-making in different business situations
4. use the basic concepts and the principles of bookkeeping and accounting, and describe and explain how the activities of an industrial enterprise can be financed
5. compile and analyse financial reports for an industrial enterprise
