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Regular version of the site

Core management concepts

2020/2021
Academic Year
ENG
Instruction in English
4
ECTS credits
Course type:
Compulsory course
When:
3 year, 2, 3 module

Instructors

Course Syllabus

Abstract

The course covers the main areas of general management and the intellectual foundations of management concepts. It includes such topics as strategic management, decicion making, marketing and financial accounting. It is the basis upon which more specialised functional management courses can be taken.
Learning Objectives

Learning Objectives

  • The aims of this course are: 1. To give students a thorough grounding in the key management sub-disciplines 2. To provide an overview of the development of these disciplines 3. To illustrate the disciplinary anchors of these disciplines in sociology, psychology and economics
Expected Learning Outcomes

Expected Learning Outcomes

  • Demonstrate understanding of core management concepts
  • Apply these concepts to specific business situations
  • Explain the relevance of social science to business practice
  • Analyse and evaluate managerial tools such as balance sheets and marketing plans
Course Contents

Course Contents

  • Financial Performance Analysis and Valuation
    This chapter will explore key methods of analysing the financial performance of a company, with a particular focus on performance ratios. It will provide a meaningful summary of the ways in which ratios can be used to achieve business insight. It will explore how investor confidence can be measured, and the significance of this for organisations and their managers.
  • The Origins of Modern Strategy
    This chapter will focus on the origins of the strategic management discipline. The chapter will emphasise what differentiates the discipline of strategic management from its sibling and parent disciplines. Particular attention will be paid here to understanding its level and units of analysis, principal questions, primary assumptions, typical research methods and key debates. The early ‘pre-theoretic’ schools that characterised the youthful strategic management discipline in the 1960s and 1970s will be surveyed. In addition, the influential ‘positioning school’ work of Michael Porter from the 1980s with its focus on industry analysis will be introduced.
  • Structural Forms
    This chapter examines a range of organisational forms, evaluating their appropriateness and relevance for a range of situations. Making use of Mintzberg’s (1983) Structure in Fives, the chapter explores the link between firm characteristics and structural options, considering how one might affect the other and ultimately have an impact on organisational practice and performance.
  • Structural and Organisational Change
    This chapter looks in more detail at the range of design choices organisations might be required to make, evaluating the suitability of particular design decisions in key organisational contexts. Issues such as where to draw a firm’s boundaries, how much bureaucracy a firm requires, and how to leverage organisational knowledge will be considered. It looks at these options as a strategic organisational choice, recognising the link between structure and strategy.
  • Contemporary Strategic Management
    This chapter will examine the most prominent theoretical perspective to emerge in the strategic management discipline in recent decades: the Resource-Based View (RBV) of the firm. The emergence of this re-focus on the ‘internal’ elements of company strategy will be placed in disciplinary context. Major works will be reviewed to provide a representative picture of the concerns, methods, findings, and debates of the RBV (and associated) theoretical perspectives. The chapter will conclude with a discussion of cutting edge trends in strategic management theory and practice, such as strategy-as-practice approaches.
  • Strategy and Decision Making
    This chapter will trace the evolution of behavioural decision theories from their origins in the 1950s to the present day. Behavioural theories are normally based on (i) a concept of a “good” or “rational” approach to decision making; (ii) empirical evidence which shows that people do not follow such an approach; (iii) a theoretic account of why such departures from rationality occur, and, sometimes (iv) some suggestions as to how to help people make more rational decisions. In this chapter we centre mostly on the celebrated “heuristics and biases” tradition of Kahnemann and Tversky, showing how the theory which these authors developed can shed light on both economic behaviour and managerial decision making. We also discuss some of the controversies surrounding this theory and some alternative views.
  • The Origins of Marketing: The Development of the Theory
    This chapter considers marketing’s origins in the fields of economics, psychology and management. It considers the types of problems contemporary marketing departments contend with, before considering briefly the emergence of the ‘marketing framework’, which has come to dominate the way in which certain markets and industries operate.
  • Elements of Marketing 1: Product, Price and Place
    This chapter outlines the key marketing decisions that managers need to make with regard to deciding which products to develop and sell. It explains some of the choices that managers have to make with regard to setting the price of their product, as well as how it might be distributed into the market.
  • Elements of Marketing 2: Brands and Advertising
    This chapter will examine the nature and role of branding in the sales and development of products and services, as well as outlining the key advertising decisions that a manager is likely to have to make. Having now covered the main elements of the marketing plan in this and previous chapters, the chapter will provide a guided look at how a marketing plan might be prepared, with a focus on its key sections.
Assessment Elements

Assessment Elements

  • non-blocking Home task (Financial Performance Analysis and Valuation)
  • non-blocking Quizzes (Financial analysis)
  • non-blocking Home task (Strategic Management)
    The task will not be graded without online presentation
  • non-blocking Hometask (Organizational Structure)
    The task will not be graded without online presentation
  • non-blocking Hometask (Decision Making)
    The task will not be graded without online presentation
  • non-blocking Hometask (Marketing)
    The task will not be graded without online presentation
  • non-blocking Quizzes (Strategy, Structure)
  • non-blocking Quizzes (Decision Making, Marketing)
  • non-blocking Exam
    Examination format: The exam is taken written. The platform: The exam is taken on Ms Teams platform. Students are required to join a session 15 minutes before the beginning. The computers must meet the following technical requirements: https://docs.microsoft.com/ru-ru/microsoftteams/hardware-requirements-for-the-teams-app A student is supposed to follow the requirements below: Check your computer for compliance with technical requirements no later than 5 days before the exam; Sign in with your corporate account (@edu.hse.ru); Check your microphone, speakers or headphones, webcam, Internet connection (we recommend connecting your computer to the network with a cable, if possible); Prepare the necessary writing equipment, such as pens, pencils, pieces of paper, and others. Disable applications on the computer's task other than the MS Teams application or the browser that will be used to log in to the MS Teams platform. Students are not allowed to: Turn off the video camera; Leave the place where the exam task is taken (go beyond the camera's viewing angle); Look away from your computer screen or desktop; Use smart gadgets (smartphone, tablet, etc.) Involve outsiders for help during the exam, talk to outsiders during the examination tasks; Read tasks out loud; Interact with other students. Students are allowed to: Write on a piece of paper, use a pen for making notes and calculations; Use a calculator; Turn on the microphone to answer the teacher’s questions; Ask a teacher for additional information related to understanding the exam task. Connection failures: A short-term communication failure during the exam is considered to be the loss of a student's network connection with the MS Teams platform for no longer than 1 minute. A long-term communication failure during the exam is considered to be the loss of a student's network connection with the MS Teams platform for longer than 1 minute. A student cannot continue to participate in the exam, if there is a long-term communication failure appeared. The retake procedure is similar to the exam procedure. In case of long-term communication failure in the MS Teams platform during the examination task, the student must notify the teacher, record the fact of loss of connection with the platform (screenshot, a response from the Internet provider). Then contact the manager of a program with an explanatory note about the incident to decide on retaking the exam.
Interim Assessment

Interim Assessment

  • Interim assessment (3 module)
    0.4 * Exam + 0.12 * Home task (Financial Performance Analysis and Valuation) + 0.09 * Home task (Strategic Management) + 0.05 * Hometask (Decision Making) + 0.05 * Hometask (Marketing) + 0.05 * Hometask (Organizational Structure) + 0.09 * Quizzes (Decision Making, Marketing) + 0.06 * Quizzes (Financial analysis) + 0.09 * Quizzes (Strategy, Structure)
Bibliography

Bibliography

Recommended Core Bibliography

  • Porter, M. E. (2008). The Five Competitive Forces That Shape Strategy. Harvard Business Review, 86(1), 78–93. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=bsu&AN=28000138
  • Willman, P. (2014). Understanding Management : The Social Science Foundations. Oxford: OUP Oxford. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=853507

Recommended Additional Bibliography

  • Meir Statman. (2019). A Second Generation Behavioral Finance. World Scientific Book Chapters, 3. https://doi.org/10.1142/9789813279469_0001