Business Economics
Business Economics relates to the subject Corporate Economics. The company is recognized in the four different points of view. Firstly the company is seen as the creator of value for existing market demand. Another point of view is the decision making process concerning the company production based on the cost analysis followed by the research and development process which is connected with the innovations within the company.
Third point of view is focused on the placing company´s production on the markets, what is connected with pricing practices. Last point of view is dedicated to the capital structure of the company which includes investing and financing of the business.The main objective of the course is to obtain basic theoretical and practical knowledge of a company based on the information from other courses as Microeconomics, Corporate economics, Financial accounting. It is also the ground for the following subjects as Management I, Marketing I, Managerial accounting, Controlling which can help students to understand the rules and principles of business economy. Beside the theoretical background, the goal of this subject is also to observe the complexity and coherence of relations within business practice regardless the professional focus of the company.
Teacher(s)
Syllabus
1. Creating value in the firm▪ Porter´s value chain ▪ Primary and supproting activities▪ Tangible, informational and financial flows of the firm o 2. Typology of companies ▪ Specifics of manufacturing plant▪ Specifics of companies providing services ▪ SME, ▪ Family business ● 3.Demand for consumption products.▪ The basis for demand ▪ industry and firm demand ▪ demand analysis, demand forecasting ▪ o 4. Business environment ▪ specification and identification of stakeholders ▪ basic rules and principles of the market analysis ▪ marketing strategies ● 5.Cost analysis, ▪ Cost classification ▪ Cost according the volume of providing outputs ▪ Production theory 6. Primary activities - inbound logistic ▪ buying activities ▪ suppliers ▪ warehousing ▪ logistic ▪ distribution 7. Primary activities -operation production ▪ Lifecycle of the product ▪ Innovation of product and process innovation ▪ Programme of manufacturing ▪ Process of manufacturing ● 8. Primary activities - Sales and sales policy ● Product policy, ▪ Pricing policy ▪ Communication policy ▪ Distributing policy ● 10. Supporting activities - Human resources ▪ Personal management ▪ Personal planning ▪ Organization of personal work ● 11. Supporting activities - investment ▪ capital structure and structure of assets ▪ basic methods of investment evaluation ▪ break event point analysis, 12. Supporting activities - Company financing ▪ System of financial and managerial financing ▪ financial documents ▪ cash flow, working capital, indicator of efficiency ● 13. Supporting activities - research and development, innovation ▪ typology and taxonomy of innovation ▪ innovation process ▪ innovation and invention ▪ innovation as competitive advantage
