Course objectives & learning outcomesThe objective of this course is to introduce students with the applied informatics or media & communication studies background (BA degree) to the fundamental concepts, theories and tools in business studies. After successful participation at this course, students should be able to:Discuss the fundamental processes in a business venture and define the terms of enterprise success and ethical behavior/social responsibility.Identify the relevant elements of the business environment, assess their influence to the business venture and design adequate response to the environmental challenges.Explain the business strategy concept and determine long-term goals for a business venture.Describe the nature of business management and discuss the functions performed by a business manager (planning, organizing, human resource management, leadership and controlling).Describe the nature of the marketing process and consumer behaviour. Discuss how products & services are developed, priced, distributed and promoted.Describe the use of financial reports in a business and explain the basic elements of financial management and investing.Note:We are not willing to accept the text, generated byChat GPT, or a similar AI LLM, as a part of the course exam, or an assignment.In case students are unsure, they should ask course instructors before using AI (LLM...) and submitting the exam/assignment.

lecture, individual and group work 

see above

PrerequisitesNo previous business knowledge/experience required.

Tentative content of the course Principles of Business Management I:Understanding, analysing and responding to business environment (Ebert & Griffin, Chapters 1-3).Topics: National and global business environment. Scanning the environment.  PEST and SWOT analyses. Business ethics. Social responsibility of a business. Entrepreneurial businesses and entrepreneurship.Business managers and managerial process (Ebert & Griffin, Chapters 4-10).Topics: Managers and the managerial jobs. The management process. Organizing and organizational structures. Employee behaviour and motivation. Leadership and decision-making. Human resource management.

Class Participation, Written exam & assignment Course evaluation of the course Principles of Business Management I:Course evaluation will be based on a written exam (quiz), which comprises 50% of the grade. Another 25% of the grade will be based on an individual written assignment, related to the topics of analysing the business environment and managing a business venture. The remaining 25% of the grade will be assigned on the basis of active class participation.

Course evaluation of the course Principles of Business Management I:Course evaluation will be based on a written exam (quiz), which comprises 50% of the grade. Another 25% of the grade will be based on an individual written assignment, related to the topics of analysing the business environment and managing a business venture. The remaining 25% of the grade will be assigned on the basis of active class participation.Course participationStudents are required to actively participate at classes and at the previously announced written exam & assignment. All students who are unable to do so, should advise lecturers in advance. Provided this is done in time, there will be an additional examination opportunity.