The course’s goal is to make students understand the fundamentals of Business Administration, Management and Corporate Strategy, providing a comprehensive overview of structure, processes and strategic choices of firms and other organizations in a double-fold perspective (i.e. both descriptive and problem-solving).
At the end of the course, therefore, students should have learned the basic concepts of business administration as well as models and tools to describe structure, strategy and management of the different organizations involved in economic activities, with a specific focus on business enterprises.
The course is divided into two modules: Part A and Part B.
Introduction to module A:
Part A is aimed at providing fundamentals of Business Administration and Management as well as a comprehensive overview of the structure and functioning of firms and other economic organizations with a special focus on ownership and governance structures, operations, assets & liabilities and going concern principles.
Introduction to module B:
This part is aimed at providing fundamentals of Corporate Strategy including both internal and external analysis, strategy formulation and execution. Specifically decisions such as vertical cost leadership, differentiation, segmentation, integration, outsourcing, diversification, internationalization, growth and downsizing will be in-depth analyzed.
Detailed program (Module A):
A) THE FUNDAMENTALS
• Course presentation. Management and Business Administration
• People and economic activity
• Firms, other organizations and economic specialization
B) THE STRUCTURE AND FUNCTIONING OF FIRMS AND OTHER ORGANIZATIONS: AN OVERVIEW AND SOME DEEPER INSIGHTS
• Structure and strategies
• Ownership and governance
• Governance structures and processes
• Economic activity and the variety of operations
• Economic activity and strategic decisions
• Assets and liabilities
C) THE STRUCTURE AND FUNCTIONING OF FIRMS AND OTHER ORGANIZATIONS: SOME KEY DECISIONS
• Decisions about size and economies of scale, volume and learning
• Decisions on cost structures
• Diversification choices and economies of scope
• Make/buy decisions and transaction economies
• Decisions on creation and development of key assets
D) PERFORMANCES AND CONTINUITY CONDITIONS OF FIRMS AND OTHER ORGANIZATIONS
• The principle of economic viability
Detailed program (Module B):
A) EXTERNAL ANALYSIS
• Overall environmental analysis
• Industry, market, business analysis
• Porter’s five forces analysis
• Identifying the key competitive factors
B) INTERNAL ANALYSIS
• Corporate resource analysis and resource based view
• Resources vs competences
• The value chain
C) BUSINESS STRATEGY
• Cost leadership
• Niche approach
D) CORPORATE STRATEGIES
• Market penetration
• Vertical Integration (upstream/backward)
• Growth vs Downsizing
• Business case discussions and testimonials
G. Airoldi – G. Brunetti – V. Coda, Corso di Economia Aziendale, Il Mulino, 2005, Cap. 1.1, 1.2, 1.3, 2, 3.1, 3.2, 3.3, 3.4, 3.5, 3.6, 4.1, 4.2, 4.3, 4.4, 5, 9.1, 11.1, 11.2, 11.3, 11.4, 11.5, 12.1, 12.2, 12.3, 14, 16.1, 16.2, 16.3, 16.4, 17.1, 17.2, 17.3.
Case studies and selected business articles will be available via elearning.
Cotta Ramusino E. – Onetti A. Strategia d’impresa, Il Sole 24 Ore Libri, Milano, 4a Edizione, 2013, Cap. 3, 4.1, 4.2, 4.3, 5, 6.