Spezialisierung Foundations of Management

Financial Accounting is often called the language of business; it is the language that managers use to communicate the firm's financial and economic information to external parties such as shareholders and creditors. Nobody working in business can afford financial illiteracy. Whether you run your own business, work as a manager or are just starting your career, you want to understand financial information and be able to interact with accountants, controllers, and financial managers. You want to talk business!

This course will provide you with the accounting language's essentials. Upon completion, you should be able to read and interpret financial statements for business diagnosis and decision-making. More importantly, you will possess the conceptual base to keep learning more sophisticated accounting and finance on your own. Do not forget that, as with any other language, becoming proficient with accounting requires constant practice.

When it comes to numbers, there is always more than meets the eye. In operational finance, you will learn how to read the “story” that the balance sheet and income statement tells about the company’s operations. The insights you gain from this “financial story” will then become a tool for short-term decision-making at the top management level relating to current assets, current liabilities and the management of working capital. Finally, by the end of the course you will understand the financial consequences of managerial decisions on operations, marketing, etc.

Understanding who your customers are and what they need and want is at the heart of successful marketing strategies. In this course you will explore how to identify and classify customers and the different methods that marketing professionals use to shed light on how they make purchase decisions.

The course will cover the following: 1. Marketing Fundamentals 2. Product, Pricing and Channel Decisions 3. Building Strong Brands 4. Communication Strategy

Peter Drucker, a pioneer in the field of management, once said that people have a perverse tendency to behave like human beings. Of course, we are not machines, and certainly not programmable. But through the study of organizational behavior, we can gain insights into what makes people tick within a work context. Increasing your understanding of your own behavior and that of your colleagues, teams and leaders, is an important first step to bringing positive change to how you and your organization work.

The objective of this course is therefore to provide insight into four key areas: • Motivation. In this course segment we will understand the concept of motivation and review various perspectives that will help you understand how we can motivate others. • Leadership. In this part of the course, we will analyze the concept of leadership and consider various perspectives and approaches to help shed light on leadership emergence and effectiveness. • Teamwork. Here we look at team functioning and effectiveness. Using the widely used input – process – output model of team effectiveness, we consider such topics as team diversity, team processes, and team outcomes. • Culture. Finally, we'll move to the level of the organization and consider the concept of organizational culture, also touching upon the concept of national culture. We look at the various ways in which culture is expressed, and discuss the implications of culture for people within organizations and cross-cultural collaborations.