BEC-21806 Introduction to Business Economics, Management and Marketing

Course

Credits 6.00

Language of instruction:

Dutch (from 2019-2020: Dutch and English)

Continuation courses:

BEC51806 Agricultural Business Economics; MST-24306 Management and Marketing

Contents:

A business success depends on its ability to supply a product or service to meet demand. But the marketplace is constantly evolving. Consider for instance the influence of the developments within public opinions and consumer preferences, laws and regulations and market forces. All these developments influence the continuity and profitability of a business. Businesses that are willing to survive must therefore react effectively to these changes in their environment.
This course provides an outline of the decision making process or the business planning, managers within the food supply chain apply to respond to changes. It starts with an exploration and analysis of the business' environment to support decisions on a strategic (long term) level. Consequently, various elements of effective decision making are discussed as the development of a marketing plan, an investment- and financing plan, an organisation plan and an implementation plan. Students will apply the presented elements and techniques by constructing a business plan of a business within the food supply chain.

Learning outcomes:

After successful completion of this course students are expected to be able to:
- identify the main concepts of business economics, management and marketing;
- analyse a business' environment to determine the main influential developments with regard to the current and future position of a business;
- apply decision-making methods managers use to adapt their business in relation to the dynamics of its environment.

Activities:

- lectures;
- case study and self-study.

Examination:

Final grading is based on:
- written group report (50%):
- individual written exam (50%), consisting of open as well as closed questions.
Both items should provide a grade of 5.5 as a minimum.

Literature:

Selected chapters from various books and additional material provided during the course.