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BLC_2BEM - Business Economics and Management*

Faculty
Esben Karmark and others
Course Coordinator
Esben Karmark
Prerequisite/progression of the course

It is an advantage, if the students have a basic level of knowledge on economics.
Course content, structure and teaching
The course provides the students theoretical and practical knowledge about the company’s business economics and marketing aspects. Through introduction to the fields of strategy, financial statement analysis and marketing management the students are provided a set of methods and models suitable for analyses of company financial and marketing performance and their relationship.
The course focuses on three main fields;
  • Strategy
  • Financial statement analysis
  • Marketing management
The strategy element gives a short introduction to perspectives on strategic management and how it relates to the two other elements of the course.
The financial statement analysis element investigates the public available accounting information, which companies disseminate. The annual report and the financial statements (the income statement, the balance sheet, the statement of cash flow, statement of stockholders equity and the accompanying notes) are taken as a point of departure for various types of analysis and discussion of the financial performance of the company. Focus is on horizontal, vertical and key financial ratios analyses, their use and limitations. A number of cases (real and constructed) are used to illustrate the differences between companies in different situations, sectors and settings.
The marketing management element investigates the basic aspects of marketing also in relation to international/global marketing management and export. The aspects covered include: market and competitor analysis, market segmentation, targeting and positioning, product and service strategies, pricing and choice of distribution channels. The financial implications of these considerations and choices and how the financial situation of a company impacts on its possibility to undertake various types of marketing initiatives are emphasised.
Learning Objectives
At the end of the course the students should be able to:
  • standardise financial statements (horizontally and vertically)
  • select relevant key ratios and calculate these
  • make an assessment of presented case information, e.g. vis-à-vis other firms, the industry and markettrends and outline the limitations of the financial statement analysis
  • present a summary of the financial statement analysis in a short and concise manner
  • demonstrate knowledge of basic models and framework of marketing management
  • select which relevant marketing management models or framework to apply to a given practical situation
  • apply and present an analysis of the given case situation
  • present a case solution from the points of financial statement analysis and of marketing management in a mutually supportive way
Teaching methods
Mix of lectures, exercises, casework, and student presentations (in groups).
Examination
4-hours written examination, based on one or more questions in relation to the course literature. For detailed information, please check the BLC or ASP Programme Regulations available and the BLC or ASP Office. Note that the students must have passed the two compulsory assignments in order to be eligible for the exam.
Exam aids: To be announced on Sitescape (look at the course folder when enrolled in the course)
Recommended literature
  • Fraser, Lyn M. and Ormiston, Aileen, 2007 ‘Understanding Financial Statements.’ Eighth Edition. Pearson Education International (Pearson/Prentice Hall), UK. (Abbreviated FLOA). Price approx. 400 DKK.
  • Mullins, John D., Orville C. Walker, Jr., and Boyd, Harper W., Jr., ‘Marketing Management. A Strategic Decision-making approach.’ 6th Edition, International Edition, McGraw-Hill Irwin. (Abbreviated MWB). Price approx. 550 DKK.
  • Case compendium (CC), Pearson Education – information to come
  • Handouts and downloads (exercises, compulsory assignments, articles, documents on Site Scape etc). (Abbreviated H&D).

Last updated by The Electives Office 30/06/2009