Caricamento in corso...
Business Economics and Organization
01NMDQD
A.A. 2022/23
Course Language
Inglese
Degree programme(s)
Master of science-level of the Bologna process in Ingegneria Meccanica (Mechanical Engineering) - Torino
Course structure
| Teaching | Hours |
|---|---|
| Lezioni | 40 |
| Esercitazioni in aula | 40 |
Lecturers
| Teacher | Status | SSD | h.Les | h.Ex | h.Lab | h.Tut | Years teaching |
|---|---|---|---|---|---|---|---|
| Pesce Danilo | Ricercatore a tempo det. L.240/10 art.24-B | IEGE-01/A | 30 | 0 | 0 | 0 | 4 |
Co-lectures
Context
| SSD | CFU | Activities | Area context | ING-IND/35 | 8 | C - Affini o integrative | A11 |
|---|
2022/23
The subject aims to provide the basics knowledge to understand the economic environment in which businesses operate, the tools used for economic assessment and to plan production activities, analytical techniques to perform economic control of industrial processes, the knowledge of the principles of industrial organization and the various forms of organizational structure.
The course aims to introduce students to the fundamental concepts and principles of business economics and organization with regard to financial and management accounting, financial statement analysis, the separation of ownership and control, short- and long-term decision-making processes, and the role that exogenous factors such as digital technologies or patents have on company management. The course is structured in three distinct but complementary parts. Lectures also include case discussions and exercises to provide students with the necessary skills to use economic and financial information. The course begins with an overview of how digital technologies are transforming organisations' products, processes, and business models, creating not only new opportunities but also new strategic, economic and financial challenges. The first part of the course therefore focuses on how to prepare and interpret the main financial statements that summarise a company's economic transactions and reflect changes in its business models (i.e., the balance sheet and income statement). The second part of the course presents management accounting methods and techniques to support management in the strategic planning, control, and monitoring of business performance. The third part of the course presents the planning process used by managers to make long-term investment decisions (capital budgeting). This part introduces students to the basic concepts and techniques used in long-term decision-making.
Knowledge of economic basic that regulate life of companies and the external economic environment.
Knowledge of economic and financial dynamics of companies and the legal forms of contracts for the exercise of economic activities.
Knowledge of the principles of industrial organization, organizational structure, labor organization, and the key functions in the enterprise.
Knowledge of techniques and methodologies for monitoring and evaluating processes and financial results of a company.
Ability to understand the economic and financial periodic reports and synthesis.
Ability to assess the ROI of a proposed investment.
Ability to make decisions and corrective actions based on economic considerations.
Ability to link typical processes of an industrial company with its dynamics and economic and financial performance.
Ability to perform production planning based on economic considerations.
The course aims to provide students with the basic knowledge of Business Economics and Organisation, relating to the knowledge of the basic concepts of capital, economics and finance, the different roles of management and ownership, short- and long-term decision-making aspects, and the understanding of some phenomena exogenous to the enterprise such as digital transformation and patents. At the end of the course, students will be able to:
- understand the vocabulary of financial accounting
- understand and interpret the structure of financial statements
- analyse financial statements to derive information useful for strategic decisions
- analyse the economic and financial performance of a company
- understand the tools used by managers to make decisions
- plan and evaluate strategic-operational decisions
- analyse the performance of investments
- understand the new challenges and opportunities of digital transformation and their impact on organisational structures and business strategy
- understand the role of patents and intellectual property in business strategy.
Elements of mathematical analysis.
There are no pre-requirements.
The subject aims to provide students with the knowledge of basic economics, management and business administration and is divided into three main parts, performed in an integrated way.
The first part provides the basic elements to introduce students into economics and to understand the behaviour of companies in a market, presenting the basic concepts of micro and macroeconomics. The subject will present and discuss concepts such as consumer behaviour and customers decision in a market, the demand curve, the nature and behaviour of costs in an enterprise, short and long term decisions and the equilibrium conditions in both goods and financial markets, as well as the main forms of market (perfect competition, monopoly and oligopoly). Strategic decisions of firms will be analysed using basic elements of game theory (interaction in a strategic environment).
Starting from the elements learned about the nature and behaviour of a company in the economic system, the second part focuses leadership and organization. Organization structures and theories will be analysed both at a theoretical and a practical (case-studies) level.
The last part of the subject deals with an introduction to accounting, with some Financial Accounting and Financial Statements topics as well as Managerial Accounting (Cost accounting) and investment decision methods.
The course is structured in three distinct but complementary parts:
PART I
- Business Organisation in times of Digital Transformation: Today's Challenges for Tomorrow's Engineers
- Basic Accounting Concepts
- Balance Sheet and Income Statement
- Accounting Records and Systems
- Financial Statement Analysis
- Gender Balance
- Case study and exercises
PART II
- Managerial Accounting and Cost Concepts
- Cost-Volume-Profit Relationships
- Differential Analysis
- Variable Costing
- Introduction to Budgets
- Exercises
PART III
- Capital Budgeting
- Cost of Capital, Net Present Value, and Cash Flows
- Payback and Internal Rate of Return
- Innovation in the organisation
- IPRs and Patents
- Exercises.
The subject is lecture-based, even though a high level of interaction is expected and required. Students are asked to participate to the lectures with their own personal contribution. In the game theory part students are asked to become an active part of the lecture and to "play" simulation and games.
Students that want to analyse deeper a topic of the course may prepare an additional work (little academic paper) on one of the many topics explained in classroom lessons, applied to a real case-study. This works should contain at least the following elements:
- purpose of the paper (i.e. topic)
- essential theoretical elements
- a case study
- your personal conclusions
- references/bibliography
The additional paper must be uploaded on the course "portale" before the day of the written exam and will be graded by the teacher. It will provide the students up to 2 points in the final mark.
The teaching includes theoretical lectures and classroom exercises in the form of numerical problems and case studies.
The material for the subject consists of slides, readings, videos and links provided by the lecturer , available on the “portale didattica”, on the Subject Page.
- Lecture support slides shared by teachers
- Exercises shared by teachers
- Suggested textbooks:
Anthony, R. N., Hawkins, D. F., & Merchant, K. A. Accounting: Text and Cases. McGraw-Hill.
Garrison, R. H., Noreen, E. W., Brewer, P. C. Managerial accounting. McGraw-Hill.
Horngren, C. T., Sundem, G. L., & Stratton, W. O. Introduction to Management Accounting. Pearson Education.
Modalità di esame: Prova scritta (in aula);
Exam: Written test;
...
Open or closed written test by computer
The final examination aims to verify the acquisition of the knowledge and skills covered in the course by means of a test consisting of numerical exercises and theoretical questions relating to all the topics covered in the lectures and exercises.
The test grade is expressed in thirtieths and honours will always be possible.
The time available to the student for the written test is 1 hour 15 minutes and it is not possible to consult lecture material, notes, or other texts.
Gli studenti e le studentesse con disabilità o con Disturbi Specifici di Apprendimento (DSA), oltre alla segnalazione tramite procedura informatizzata, sono invitati a comunicare anche direttamente al/la docente titolare dell'insegnamento, con un preavviso non inferiore ad una settimana dall'avvio della sessione d'esame, gli strumenti compensativi concordati con l'Unità Special Needs, al fine di permettere al/la docente la declinazione più idonea in riferimento alla specifica tipologia di esame.
Exam: Written test;
Open or closed written test by computer
The final examination aims to verify the acquisition of the knowledge and skills covered in the course by means of a test consisting of numerical exercises and theoretical questions relating to all the topics covered in the lectures and exercises.
The test grade is expressed in thirtieths and honours will always be possible.
The time available to the student for the written test is 1 hour 15 minutes and it is not possible to consult lecture material, notes, or other texts.
In addition to the message sent by the online system, students with disabilities or Specific Learning Disorders (SLD) are invited to directly inform the professor in charge of the course about the special arrangements for the exam that have been agreed with the Special Needs Unit. The professor has to be informed at least one week before the beginning of the examination session in order to provide students with the most suitable arrangements for each specific type of exam.