Enterprise Management and Economics
| Code | Completion | Credits | Range | Language |
|---|---|---|---|---|
| 2381054 | Z,ZK | 4 | 2+2 | Czech |
- Lecturer:
- Vladimír Žáček (gar.), Martin Zralý (gar.)
- Tutor:
- Vladimír Žáček (gar.), Martin Zralý (gar.), Vladimír Brdek, Vojtěch Chlubna, Barbora Stieberová, Miroslav Žilka
- Supervisor:
- Department of Management and Economics
- Synopsis:
-
The course is prepared to offer the students at Mechanical Engineering Faculty an introduction to principal economics foundation needed to complete a technical thinking and demonstrate basic relations among costs, returns, expenditures, revenues and other key economic terms. It shows students in which way to make the basic cost, revenues and investment calculations. To the key objectives belongs also to create the ability to prepare processes or centres operating budget and simple product costing. Also to create the ability to understand the consequences of technical decisions into accounting sheets. Basic issues of Target Costing are illustrated. In the area of management the explanation focuses on basic managerial functions and their content, the way of the network analysis implementation in project management, the multi-dimensional decision making process and on the essential principles of marketing and strategic management.
- Requirements:
-
1.Limitedness of resources and consequences. Utility, marginal utility, utility and price, demand function, analysis of demand function.
2.Functions: of demand (analysis of its factors), of supply, of return. Market balance and its stability.
3.Cost functions: Total, average and marginal. Profit alternatives.
4.Characteristics of specific economic functions with the emphasis on technical factors. Free competition, transition to imperfect competition, monopoly, oligopoly.
5.Financial balances-three balanced system. Key items in balances and its managerial interpretation. Major conclusions for technically oriented manager.
6.Balance sheet: Discussion to major items in BS. Requirements on the size of items. Linkages to other financial balances.
7.Profit and loss account. Types of P&LA. Cash-flow statement. Procedures of CF preparation.
8.Cost categorization. Cost analysis procedure. Costing and its key factors. Cost drivers + CD-examples.
9.Costing: planned, final, absorption, variable. Target Costing.
10.Purpose for costing. Key factors of costing. Criticism to surcharge costing. Hour cost tariff method. Variable costing-multi level cost margin.
11.Operational budgets. Aim, content, creation, estimation. Link to P&LA.
12.Static and dynamic methods for investment project assessment - major differences. Major factors in dynamic assessment.
13.Aims and tasks of financial management. Short and long term financial resources to cover the capital needs.
14.Static and dynamic analysis of economy. Managerial interpretation of financial measures.
15.Measures of activity, profitability, liquidity and indebtedness.
16.Entrepreneurships: types, features, linked laws, types of companies and their typical features. Regulation and tax-system. Accounting prescriptions. Principles of Labor law.
17.Management: development, key principles, functions. Manager and its role in company. Levels of management, schools of management.
18.Planning: Aims and their hierarchy, types of planning, content of annual company plan.
19.Methods of network analysis. CPM method and its application. PERT method and its application. Gantt diagram.
20.Organizing, management spread, organizational structures.
21.Leading and staffing. Stimulation, motivation, theory X and Y, other theories essential in management context.
22.Human resource management-principles.
23.Checking in management. Types of checking. V-Z-V diagram, audit.
24.Analysis, decision-making and implementation: principles + key steps.
25.Decision-making in risk and uncertainty situations.
26.Multi-criterions decision-making. Methods based on weight of importance appraising criterions. Methods based on aggregation appraising criterions.
27.Marketing: aim and purpose. Key items in marketing projects (needs, wishes, demand, product, service, value, quality, exchange, markets). Types of market relations, segmentation, targeting, positioning.
28.Targeted and market non-targeted marketing. Marketing mix.
29.Tools of marketing mix.
30.Methods used for evaluation of product position on market (matrix BCG a matrix GE).
31.Strategic management, requirements on enterprise objectives. Hierarchy of enterprise strategies. Internal and external enterprise environment.
32.SWOT analysis in strategic management, Porter?s model of five competitive forces and generic strategy.
- Syllabus of lectures:
-
1.Key issues of economic theory for technicians. Basic economic functions and typical economic situation.
2.Costs and revenues, cost analysis, categories of cost, cost control.
3.Operating budgets.
4.Costing, key features of usual costing procedures.
5.Accounting balances (statements) and its managerial interpretation.
6.Assessment of investment projects, financial and economical analysis of the enterprise.
7.Entrepreneurship. Development in management. Functions of management.
8.Planning and network analysis application.
9.Organizing and organizational structures. Staffing, leading and motivation.
10.Decision making and application of multi-dimensional decision making. Applied methods.
11.The essential points of marketing management and its tools.
12.Key terms and principles of strategic management. Hierarchy of strategies.
13.Porter?s model and SWOT analysis application. Final summary and conclusions.
- Syllabus of tutorials:
-
1.Introduction into the way of work in this type of course. Rules of preparing for seminars and rules of work during the seminar. How to use internet for gaining information in the area of enterprise management and economics.
2.Basic economic functions and their interrelationships and consequences. Their managerial interpretation including graphs presentation. Test-1.
3.Cost categorization. Operating budgets. Budget presentation.
4.Overhead charge costing and criticism to it. Contribution margin application. Test-2.
5.Hour cost tariff method application and reasonable mix with multilevel contribution margin.
6.Training in accounting of simple transactions. Creating balance sheet and profit and loss account from them. Test-3.
7.Financial measures of enterprise performance.
8.Assessment of investment projects. Test-4.
9.Planning and network analysis application.
10.Managerial application of the tools of network analysis and training in how to interpret the graphs, tables and other results. Test-5.
11.Creation of entrepreneurship activities of an enterprise (SWOT-analysis, GE-matrix, etc.).
12.Multi-dimensional assessment and decision making. Test-6.
13.Summary, evaluation, crediting.
- Study Objective:
-
1. Engineering Economy for Engineering Managers., 2. Cost-Profit-Volume or Break-Even Analysis., 3. Market-Related Factors., 4. Overview of Forecasting Methods, Demonstration Problems., 5. Decision Making., 6. Japanese Influence on Operations Management., 7. Facility Location and Job Design., 8. Planning for Operations and Capacity., 9. Inventory Management and Purchasing., 10. Material Requirements Planning., 11. Just-in-Time Manufacturing Excellence. The Kanban System., 12. Total Quality Management., 13. Project Management, Network Techniques., 14. Optimal strategy control.
- Study materials:
-
Basic:
(1)Freiberg, F., Zralý, M.: Ekonomika podniku, Vyd. ČVUT, 2008
(2)Zralý M. a kol.: Management a ekonomika podniku - Úlohy, Vyd. ČVUT, 2009
(3)Zralý, M.: Syllabuses, cases, etc., on internal server S: \Zraly ??
(4)Žáček, V.: Management podniku, Vyd. ČVUT, 2009
Other recommended:
Macík, K., Zralý M.: Kalkulace a rozpočetnictví-Sbírka úloh, Vyd. ČVUT, 2006
Samuelson, P., Nordhaus, W.: Ekonomie, Svoboda
Zralý M.: Selected references 2005-2009, on internal server S: \Zraly??
- Note:
- Time-table for winter semester 2011/2012:
-
06:00–08:0008:00–10:0010:00–12:0012:00–14:0014:00–16:0016:00–18:0018:00–20:0020:00–22:0022:00–24:00
Mon Tue Fri Thu Fri - Time-table for summer semester 2011/2012:
-
06:00–08:0008:00–10:0010:00–12:0012:00–14:0014:00–16:0016:00–18:0018:00–20:0020:00–22:0022:00–24:00
Mon Tue Fri Thu Fri - The course is a part of the following study plans: