Business Administration

The course examines the issues of intercultural competence, cultural identity, and cultural diversity in European business context. Various case studies are considered from strategic, organizational, and marketing perspectives. The course enhances understanding of the high variety of European business cultures and explores the corresponding variety of management and marketing styles. Special attention is paid to the present burning economic issues of the European Union, business ethics, and the standards of corporate social responsibility as well as to the challenging aspects of managing diversity and multicultural team development. Ethnically diverse markets are viewed as rich opportunities which ethnic communities offer. Companies in different parts of Europe are subject to analysis, including their efforts to work successfully across borders. Students are involved in a process of self-reflection through learning about the different stages of cultural assimilation in a European business environment.

The course examines the process of creating, assessing, and pursuing product opportunities, with emphasis on evaluating future markets shaped by new technologies. The focus is on technology innovation coupled with business planning and development. Other topics include factors that drive continuous creative product innovation, evaluation of new product ideas and risk assessment of commercialization, product development strategies in industrial marketing, understanding the behavior of the buyer and formulation and implementation of an innovative marketing strategy and business plan. This course combines mentor-guided team projects, case studies, and research on the entrepreneurial process. Text: Osterwalder and Pigneur, BUSINESS MODEL GENERATION: A HANDBOOK FOR VISIONARIES, GAME CHANGERS, AND CHALLENGERS. Assessment: exam I (25%), exam II (25%), assignments (10%), class activities (5%), class attendance and participation (5%), term project and presentation (30%).