Repetition of the course



•Are there any questions concerning the Business Economics?



Lecture 1
•Productivity - is expressed as the ratio of output to inputs (factors of production) used in a
production process, i.e. output per unit of input •Technological efficiency (TE)occurs when it is
not possible to increase output without increasing inputs. •Economic efficiency(EE) occurs when the
cost of producing a given output is as low as possible.

Lecture 1
•Porter value chain –
–primary activities,
–secondary activities
•Company flow – material, informal, money ( cash)

Lecture 2
•Organization growth  - Greiner model
•Size of companies
•NACE
•Family business

Lecture 3
•Demand – its determinants
a)Demand for product – is the quantity of good or service that customer are willing and able to
purchase during a specified period under a given set of conditions.
b)Derived demand is the demand for all inputs used by a firm.
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Lecture 4
•Business environement – Macro and micro environment •PESTEL, Porter 5 forces, Strategic map, SWOT
analysis

Lecture 5
•Inbound marketing mix
• Informational and communication mix
•Mix of products and services
•Pricing and contractory mix
•Logistic mix
•Inventory management
–Safety stock - a level of extra stock that is maintained to mitigate risk of stockouts (shortfall
in raw material or packaging) due to uncertainties in supply and demand.
–The reorder point (ROP, reorder level) is the level of inventory which triggers an action to
replenish that particular inventory stock.
–EOQ, ABC analysis
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Lecture 6
•Types of production
–Job (unit) production
–Batch production
–Flow production
•Tradition vs. Lean manufacturing
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Lecture 7
•Human resources basic fumction
–Staffing
–Training and development
–Motivation
–Maintenance
•Job description: Job description includes basic job-related data that is useful to advertise a
specific job and attract a pool of talent
•Job specification: job specification is a written statement of educational qualifications,
specific qualities, level of experience, physical, emotional, technical and communication skills
required to perform a job, responsibilities involved in a job and other unusual sensory demands
•Recruitment: internal vs. External
•Short-term stuffing need vs. Long-term stuffing need
•Personal competencies

Lecture 8
•Investment vs. Financing(bevt vs. Equity)
•Balance sheet
•Capital structure
•Income statement
•Financial statement analysis
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Lecture 9
•Incremental vs. Radical innovation
•Types and rules for innovations
•Open vs. Closed innovation
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