zagreb school of economics and management graduate mba … · zagreb school of economics and...

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1st Semester MBA (March -July)

ZAGREB SCHOOL OF ECONOMICS AND MANAGEMENT

GRADUATE MBA PROGRAM

MBA Tracks

General MBA

FLEX MBA

MBA in Management

MBA in Marketing

MBA in Marketing

MBA in Marketing

MBA in MIS

MBA in Finance and Accounting

MBA in Finance and Banking

MBA in Accounting, Auditing and Taxes

MBA in Quantitative Finance

MBA in Human Resource Management

MBA in Supply Chain Management

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1st Semester MBA (March- July)

Course ECTS Page

Business Ethics and Corporate Social Responsibility 3 ECTS 3

Business Intelligence Application 5 ECTS 5

Consumer Behavior 5 ECTS 9

Direct taxes in Croatia 5 ECTS 11

Electronic Business Management 5 ECTS 13

Financial Management 9 ECTS 15

Financial Mathematics 2 2 ECTS 18

Financial Reporting 6 ECTS 20

Financial Statement Analysis 5 ECTS 22

Financial Statement Audit 6 ECTS 24

Information Security 5 ECTS 26

International and EU Tax Law 5 ECTS 29

Introduction into Financial Econometrics 2 ECTS 33

Leadership 4 ECTS 35

Management of Change and Human Resource Management 5 ECTS 38

Managerial Techniques 3 ECTS 41

Marketing Research 5 ECTS 44

Operations Management 6 ECTS 47

Price Management 5 ECTS 50

Product Management and Design 5 ECTS 52

Random Process of Financial Markets 3 ECTS 55

SAP/ MS Dynamics NAV 6 ECTS 58

Selected Chapters of Financial Mathematics 3 ECTS 61

Services Marketing 5 ECTS 63

Random (Stochastic) Processes of Financial Markets 3 ECTS 65

Strategy 5 ECTS 68

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1st SEMESTER (MARCH-JULY)

(SC600) BUSINESS ETHICS AND CORPORATE SOCIAL RESPONSIBILITY

(ECTS 3)

In the Business Ethics and Corporate Social Responsibility Course, students will learn how

to recognize moral dilemmas in business, fast formulation of solutions to these dilemmas,

all in a transparent manner. Students will also engage in critical analysis of business cases

and will learn to make transparent, ethical business decisions. The following concepts are

covered in his course: ethical systems, ethical systems, ethical decision making in doing

business- all in relation to customers, market, environment, procurement and international

business. Furthermore, the place and role of a corporation will be analyzed in terms of its

position with respect to culture, religion, tradition, government policy and legislation, etc.

COURSE OBJECTIVES

Although CSR is a relatively new term, its roots go back a long time and can be traced to a

variety of philosophical, ethical, and environmental discourses. Thus there are a number of

different approaches to CSR as well as a number of different definitions of what exactly CSR

comprises. Furthermore the concept has been extended to apply not just to corporations

but to many other (not necessarily profit seeking) forms of organisation. The concept of

CSR is therefore complex. It is the purpose of this course to introduce students to this

complexity and to the various components which might comprise socially responsible

behaviour. In doing so it is intended to provide a framework both for further study and for

planning and evaluating the actions and performance of an organisation in the context of

sustainable and socially responsible activity. Particularlly: (1) Developing sensitivity to

immoral and irresponsible acts in business world. (2) Encouraging proactive behavior in

favor of ethical standards. (3) Developing know-how of incorporating ethical standards in

business procedures and detecting irresponsible acts in companies.

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CLASS HOURS

Lectures 3 hours per day (5 days) Total 15 hours

TOPICS

Introduction to ethics, BE and CSR.

General introduction to BE and CSR and corruption.

Best practices + management and leadership + written exam.

Application to field of study.

Student cases (presentations).

ELEMENTS OF GRADE

*Additional elements:

1. written response to the case of other groups (1 page text) (5%)

2. active participation in discussions (5%)

3. preparing a short power point presentation (10 min) on free subjects (5%)

4. preparing a small case study according to daily business newspapers or TV/Internet

reports (5%)

LITERATURE

1. Marcoux A. 2008 Business Ethics, Stanford Encyclopedia of Philosophy

(plato.stanford.edu) (15 pp.).

2. Jeurissen R. 2007 (ed.) Ethics & Business, Van Gorcum, Aasen (276 pp.).

3. Bowie N. E. 2001 (ed.) „The Blackwell Guide to Business Ethics“, Blackwell, Oxford.

4. Carroll A. B. Buchholtz A. K. 2003 Business & Society, Ethics and Stakeholder

Management, Thomson, South-Western, Manson, Ohio.

Final Grade Components: Percentage: Written case 25% Case presentation 25% Written or oral exam 50% Total 100%

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5. Frederick R. E. 2002 (ed.) „A Companion to Business Ethics“, Blackwell, Oxford.

6. Fritzsche D. J. 2005 Business Ethics, Irwin McGraw-Hill, Boston.

7. Hoffman W. M., Frederick R. E., Schwartz M. S. (eds.) 2001 „Business Ethics:

Readings and Cases in Corporate Morality“, Irwin McGraw-Hill, Boston.

8. Jeurissen R. 2007 (ed.) „Ethics & Business“, Van Gorcum, Assen.

9. LaRue Tone H. 2003 The Ethics of Management, Irwin McGraw-Hill, Boston.

10. Velasquez M. G. 1992 „Business Ethics: Concepts and Cases“, Englewood Cliffs, NJ:

Prentice Hall.

11. Verhane P. H., Freeman R. E. (eds.) 1997 „The Blackwell Encyclopaedic Dictionary of

Business Ethics“, Blackwell, Oxford.

12. Focus on the specialization .

Focus on management and HRM

1. Allinson R. E. 2005 Saving Human Lives, Springer Verlag, Berlin, Heidelberg.

2. Zimmerli W. Ch., Richter K., Holzinger M. (eds.) Corporate Ethics and Corporate

Governance, Springer Verlag, Berlin, Heidelberg.

3. Muhr, S. L., Sørensen B. M. Vallentin S. (eds.) 2010 Ethics and Organizational

Practice, Questioning the Moral Foundations of Management, Edward Elgar

Publishing, Cheltenham, UK.

Focus on marketing

1. Brenkert, George G. (2008) Marketing Ethics, John Wiley and Sons.

2. Davidson, D. Kirk (2002) The Moral Dimension of Marketing: Essays on Business

Ethics South-Western Educational Murphy, Patrick E.; Gene R. Laczniak, Norman E.

Bowie (2004) Ethical Marketing Prentice Hall.

Focus on finance, banking, accounting and auditing

1. Armstrong M. B. (2001) Ethical issues in accounting, in: N. E. Bowie (ed.) The

Blackwell Guide to Business Ethics, eISBN: 9780631221234, 2001.

2. Boatright J. R. (2002) Finance ethics, in: R. E. Frederick (ed.), A Companion to

Business Ethics, eISBN: 9780631201304, 2002.

3. McPhail K. and Walters D. (2009) Accounting & Business Ethics, Routledge, London.

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(IT627) Business Intelligence Application (ECTS 5)

During the recent years, fast changes in the economic environment and massive

technological developments in the field of information technology have introduced

challenges for many business organizations. The growing capabilities to collect and store

large amounts of internal and external data make it increasingly difficult for management

to make better decisions consistent with the data. To address information overload,

companies are utilizing a variety of analytic concepts and tools that over the years have

assumed the label "Business Intelligence." Business Intelligence (BI) refers to technologies,

applications and practices for the collection, integration, analysis, and presentation of

business information. Business intelligence is used to improve decision making, enhance

strategic position, and sustain competitive advantage.

COURSE OBJECTIVES

The objective of this course is to enhance the student's understanding of how data

warehousing/business intelligence (DW/BI) systems are modeled, designed, developed

and implemented in companies. This objective will be achieved through the introduction of

new concepts and practices that are critically important to world class business

intelligence professionals. The concepts will be practiced by using real world software

solutions. The core technical knowledge explored in this course is the multidimensional

online analytical processing (OLAP) technology, with its multidimensional cube

representation.

CLASS HOURS

Lectures 20hours (10 days*2 hours) 5 hours (online lectures)

Exercises 20 hours (10 days*2 hours) Total 45 hours

TOPICS

Introduction to DW/BI; DW/BI technical architecture.

Applied data mining using Excel.

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Data mining concepts and DMX.

SQL server data mining.

Implementing a data mining process.

Data mining algorithms.

Mining OLAP cubes.

Data mining with SQL server integration services.

Data mining security and ethical issues.

ELEMENTS OF GRADE

*Additional points:

Student activity 5-10%

Research work 5-10%

Programming assignment 10-15%

LITERATURE

1. Data Mining with SQL Server 2008. Tang and MacLennan, Wiley Publishing. ISBN

978-0470277744.

2. Basic literature consists of Power Point presentations, which students can find on

Blackboard in directory lectures. All lectures also have a video format.

3. Data Mining Techniques: For Marketing, Sales, and Customer Relationship

Management, 3rd Edition, Gordon Linoff and Michael Berry, 2011, Wiley, ISBN:

0470650931.

4. Delivering Business Intelligence with Microsoft SQL Server 2012, 3rd edition, Brian

Larson, 2012, McGraw Hill, ISBN: 978-0-07-175939-7.

Final Grade Components: Percentage: Student presentation 10% Mid-term exam 15% Case study work 35%

Individual assignment 40% Total 100%

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5. Business Intelligence a Managerial Approach, by Turban et al. Pearson/Prentice

Hall. ISBN 978-0-13-234761-7.

6. On line books: http://safari.informit.com/

http://safari.informit.com/

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(MK785) CONSUMER BEHAVIOR (ECTS 5)

This is the course involving a broad understanding of consume behavior, since successful

marketing means profound orientation towards understanding and meeting consumers'

needs. A lot of products and services have failed because companies haven't understood

consumers' needs and restrictions, although the customers are those actually expected to

use a product or a service. The course has been aimed at consumer preferences, in order to

understand the way they are shaped and to find out whether products and services can

properly meet expressed and tacit preferences. The objective of the course is to develop

students' skills when analyzing, researching and selecting best marketing strategies, using

current theory and data relevant for the consumer's behavior (from psychological and

economic point of view, including other social sciences) and to introduce them to main

variables for decision making process in marketing.

COURSE OBJECTIVES

The objective of the course is to develop students’ skills for researching, analyzing, and

selecting the best marketing strategies, using current theory and data relevant for the

intended consumer’s behavior. This will be from the psychological and economic points of

view and to introduce the main variables for the decision making process in marketing.

CLASS HOURS

Lectures 40 hours Total 40 hours

TOPICS

Introduction to consumer behavior.

Segmentation.

Branding.

Reference groups.

Consumer decision making.

Consumer perception.

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Consumer learning.

Attitude formation and change.

Gift giving.

Persuasion.

ELEMENTS OF GRADE

LITERATURE

1. (CB) Consumer Behaviour: A European Outlook (2008), Leon G. Shiffman, Leslie

LazaraKanuk and Havard Hansen, FT Financial Times Prentice Hall, Essex, England.

2. Power Point Slides.

3. Exercises, Readings and Cases in order of Notes Package

Homework #1) Homework # 1 - Flat and Shopping, Daniel D. Butler

Class Activity # 1 - Lifetime Value of A Customer.xls, Excel File

Class Activity # 2 - Information Display Board

Reading - Perception and Memory and Attitudes (2002), Boyd, Harper W., Jr.,

Walker, Orville C., Jr., Mullins, John W., and Larreche, Jean-Claude, Marketing

Management: A Strategic Decision-Making Approach (4thed), pages 124-

128,McGraw-Hill Irwin, Boston

Reading - Moving “Customer Satisfaction: From A Slogan To A Science, Gale B.

Wood (1994), in Managing Customer Value: Creating Quality and Service

That Customers Can See, Free Press, New York

Class Activity #3 - Customer Value Map.xls, Excel File

Reading - Attitudes in Consumer Behaviour

Final Grade Components: Percentage: Homework 20% Class participation (case and activities) 20% Exam/projects 50% Total 100%

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(AC653) DIRECT TAXES IN CROATIA (ECTS 5)

The aim of this course is to familiarize students with the tax system in Croatia, based on

direct taxes. For these purposes, students will be thoroughly familiar with the operation of

the system of taxation through income tax and corporate income tax. When it comes to

income taxes students will be familiar with all features of the income tax. For this purpose,

it will be discussed about the type and manner of their income tax, about wages that are

considered as income, tax base, taxing residents and nonresidents in Croatia, and more.

When it comes to corporate income taxes, students will be familiar with the principles of

taxation based upon different business events.

COURSE OBJECTIVES

The course primarily aims at giving the students basic knowledge in the area of taxes and

tax system of the Republic of Croatia with special emphasis on the direct taxes. Students

will also get acquainted with accounting aspect of legal regulations and norms in field of

public finance. Students will study regulatory rules for calculation and collection of direct

taxes and their implications on accounting reports, first of all on balance sheet and income

statement. Attention will be focused on profit tax and income tax as the most important

direct taxes.

CLASS HOURS


TOPICS

Public finance. Public income and public expenses. Types of public income. Taxes in

general. Tax characteristics. Principles of taxation. Tax system. Criteria for tax

division. Attributes of direct taxes. Tax terminology. Proportional, degressive and

progressive tax rate. Direct taxes in tax system of Croatia.

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Income tax prepayments within year for various types of income. Tax loss and tax

loss carried over. Facilities and incentives. Tax facility for Croatian war disabled

persons. Facilities and exemptions in areas of special state care. Tax incentives for

employment. Incentives for research and development. Tax facilities for education

expenses. Lump sum taxation. Registry for income tax obliged persons. Reporting

obligations.

International agreement od double taxation avoidance - OECD model of agreement.

Resident determination. Income taxation from dependant labour of non-residents

working in Croatia. Income payments to non-residents. Receipts of residents from

abroad. Property income. Author honorarium, management board member income,

income of professors and teachers, sportsmen, students and other income that are

subject to international agreements. Models for appliance of international

agreements. Income tax payed in foreign country and annual income tax application.

Items for tax base deduction. Profit tax - distinction between accounting profit and

tax base. Temporary differences, deferred tax assets and deferred tax liabilities.

Defining profit tax base. Items that enlarge tax base. Interest on credits to

shareholders and corporation members. Value adjustment and write off for

receivables. Valute adjustment for stocks and for financial assets. Expenses from

provisions. Expenses from depreciation.

Income from independent activity. Income from property and property rights.

Income from capital. Taxation of income from insurance. Taxation for other income.

Practical examples of calculation of income for task and income for author

honorarium. Annual income tax application for other types of income.

Taxation of certain income types. Defining of receipts and dibursements accourding

to cash principle. Tax acknowledged disbursements with certain income types.

Income from dependant labour in cash and in nature. Annual income tax application

for income on dependent labour. Obligatory and voluntary annual tax application.

Income tax. Obliged persons for income tax. Residents and non-residents. Receipts

that are not considered as income. Receipts that are not subject to income tax.

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Personal tax exemptions. Income types. Tax base and tax period. Personal

deduction. Tax rates. Surtax on income tax. Income tax belonging.

Practical examples of calculation and application of income tax - case study.

State allowance for education and for research and development. Facilities and

exemptions for taxpayers in area of special state care, mountain area and in town

Vukovar. Profit payed in advance. Defining of prepayments. Tax loss. Tax loss

carried over. Profit tax payed in substraction. Tax facilities according to Act on

investment incentives.

Practical example of profit tax application.

Practical case studies for PD form.

Repetition and preparation for the exam.

ELEMENTS OF GRADE

LITERATURE

1. Act and rulebook on profit tax and on income tax (Zakon i pravilnik o porezu na

dobit i porezu na dohodak), Narodne novine.

2. Taxes - Ministry of Finance judgements and court practice (Porezi - mišljenja

Ministarstva financija i sudska praksa).

3. Presentation of lectures, additional materials.

Final Grade Components: Percentage: Written exam 100% Total 100%

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(IT640) ELECTRONIC BUSINESS MANAGEMENT (ECTS 5)

The course will primarily focus on e-business technologies and cases relevant to the big

picture if today’s e-business. We will focus on main milestones events in e-business close

history and present days with analysis of main stories. Students will have opportunity to

discuss large number of the cases of success and failure. Course will be heavily oriented

towards practical implementations of web applications for e-business. In the end of the

course students will gain basic practical knowledge for development of their own e-

business ideas.

COURSE OBJECTIVES

The course objectives are to teach students to understand technological concepts of

Internet, World Wide Web and Web 2.0 applications, to teach students to use different

programs and tools for realization of e-business project, to analyze and understand main

trends in e-business, to create e-business plan, to monitor and participate on global world

market by using ICT and prepare students for lifelong learning.

CLASS HOURS

Lectures 20 hours (10*2 hours) Student presentations 2 hours Computer practice 16 hours Project presentations 2 hours Total 40 hours

TOPICS

Introduction, Internet and WWW.

E-business infrastructure, Web and Internet services and applications.

Cloud computing and E-business.

E-business applications: CMS.

E-business applications: customer relationship and enterprise resource planning

systems.

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Communication systems: VoIP, E-mail and media servers, Web and video

conferencing.

Gaming, virtual worlds, e-commerce B2B and B2C.

Internet shops, supply chain management, online marketing and offline marketing.

E-business models and strategies.

Security and ethics in e-business.

ELEMENTS OF GRADE

*Additional points:

Working/starting complex web project 10%

Helping others in BB forum 3%

Posting and argumenting articles on innovations in the field of e-business 5%

Using new tools/technology/skills 5%

LITERATURE

1. E-Business and E-Commerce Management, Strategy, Implementation and Practice

5th Edition: Dave Chaffey, 2011.

2. eBusiness&eCommerce: Andreas Meier and Henrik Stormer, 2008.

3. R. E. Kennedy, A. Sharma: Premještanje usluga, Mate 2010.

Final Grade Components: Percentage: Student class activity 20% Case studies 20% Student project presentation 60% Total 100%

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(FN552) FINANCIAL MANAGEMENT (ECTS 9)

The course is divided into several basic units of crucial importance to financial management such

as: basic theoretical concepts of modern finance, valuation and return on investment in securities,

portfolio risk securities, valuation of debt and equity options, the theory of capital structure, and

analysis of value creation within the company (NPV, IRR, PBP, WACC, EPS ...) etc. In modern

financial theory this course is dealing with modern analysis of corporate securities in the primary

and secondary capital markets and financial strategies.

COURSE OBJECTIVES

The course consists of a few basic sections of key importance for Financial management like: basic

theoretical concepts of modern finance; rate of return and stock evaluation; portfolio risk

management; options evaluation; capital structure theory; value creation theory (FCF, NPV, IRR,

PBP, WACC, EPS...) etc.

CLASS HOURS

Lectures 15 lectures* 4hours Total 60 hours

TOPICS

Introduction to financial management, case study.

Time value of money, case study.

Stock valuation, case study.

Risk and return.

Bond valuation, case study.

Techniques for measuring investment profitability, case study.

Optimal capital structure decisions, case study.

Financial reports analysis, case study.

Fundamentals of short and long term financial planning, case study.

Company valuation and financial modeling, case study.

Market efficiency.

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Ethic in finance.

Company finance policy.

ELEMENTS OF GRADE

Final Grade Components: Percentage: Final exam 100% Participation 10% Total 110%

LITERATURE

1. Brealey, Myers, Marcus: Fundamentals of Corporate Finance, McGraw-Hill (5th edition,

2007) (“BMM”).

2. Van Horne, Wachowicz Jr. :Osnove financijskog menadžmenta, (9th. edition, Mate).

3. Van Horne: Financijsko upravljanje i politika, 9. izdanje, Mate.

4. Narayanan M. P. i NandaVikram K. : Financije za strateškoo dlučivanje, Mate, 2007.

5. Corporate finance Jonathan Berki Peter De Marzo, Pearson.

6. Financial Management Raymond Am. Brooks, Pearson.

7. Financial Management Sheridan Titman, Arthur aj. Keowni John d. Martin, Pearson.

8. Blackboard.

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(MT621) FINANCIAL MATHEMATICS 2 ( ECTS 2)

The aim of this course is to acquire basic theoretical knowledge related to financial intermediation

through transferable financial instruments, which serves as a basis for understanding modern

finance and the problems that arise in this context and which should make rational decisions.

Through the acquired knowledge of all basic types of debt instruments and derivatives and their

valuation in financial markets, students will gain the ability to understand quantitative aspects of

the functioning of modern financial markets and a mathematical foundation for building a business

strategy for them.

COURSE OBJECTIVES

The main goal of the course is to learn different systems of financial intermediation, intermediation

elements and mathematical techniques that are used in market valuation of debtors' financial

instruments and selected types of derivatives. Besides developing quantitative approach to

business and financial problems, this course enables students to recognize structure in a financial

system, classification of financial instruments from the perspective of their role in financial

intermediation and from the perspective of different combination of their economic and

mathematical characteristics, to differ contract and market elements in valuation of financial

instruments and to learn market valuation of debtors' financial instruments in detail.

CLASS HOURS

Lectures 28hours Exercises 12hours Total 40 hours

TOPICS

Financial intermediation.

Zero coupon bonds.

Coupon bonds.

Bonds quotation – Case study: US Treasury Bonds Quotation.

Yield curve and hedging.

Bonds’ portfolio yield measures.

Derivatives and corporate bonds.

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ELEMENTS OF GRADE

Final Grade Components: Percentage: Written exam 50% Oral exam 50% Total 100% OR

Final Grade Components: Percentage: Written exam 50% Oral presentation 50% Total 100%

LITERATURE

1. BB materials.

2. B. Gruić, I. Jemrić, I. Šutalo, H. Volarević: “Mathematics for ecnomists and managers”, ZŠEM i

Mate d.o.o. 2006.

3. Z. Bodie, A. Kane, A.J. Marcus: “Investments”, ZŠEM i Mate d.o.o. 2006.

4. J. Cvitanić, F. Zapatero: “Introduction to the Economics and Mathematics of Financial

Markets”, MIT Press, 2004.

5. The handbook of fixed income securities, Frank J. Fabozzi, Irwin professional publishing,

1997.

6. Financial modelling, Zdravka Aljinović, Branka Marasović, Boško Šego, Zagreb,

Zgombić&Partneri, 2008.

7. Fundamentals of Futures and Options Markets, John C. Hull, Pearson Prentice Hall, 2008.

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(AC527) FINANCIAL REPORTING (ECTS 6)

The aim of the course is to analyze the application of the International Financial Reporting

Standards (IFRSs) through selected case studies. Students will be presented the regulatory

framework for financial reporting in the EU and Croatia based on regulations and

international standards. The content and structure of the IFRS will be historically reviewed.

Special attention will be given to the formulation of the accounting policy in the areas of

recognition and measurement of accounting categories as well as of publishing in the

accounting reports pursuant to the IFRS.

COURSE OBJECTIVES

The course primarily aims at learning about the role and importance of IAS / IFRS in

process of financial reporting with reference to appropriate accounting procedures of

recognition, initial and subsequent measurement of the elements of financial statements

and adequate requirements for presentation and publication. Students will also get

acquainted with impact that business decisions have on value of assets, liabilities and

equity of business entity that is on its business results and financial position. The emphasis

is put on solving case studies using critical and analytical thinking and on acquiring

practical knowledge about the importance and influence of International Financial

Reporting Standards (IFRS) on the process of financial reporting. Financial reports

prepared in accordance with IFRS are the base for fair and truthful financial statements

presentation of business success, financial position and changes in financial positions of the

entity for the purpose of external users, financial market participants. Students should

understand the importance of ethics in financial reporting.

CLASS HOURS


TOPICS

Financial reporting.

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Long term asset – tangible and intangible assets.

Property investment and lease.

Financial asset.

Short term asset.

Equity and long term reservations.

Income, expenses and profit.

Financial statements.

Business combinations.

Preparations for the exam.

ELEMENTS OF GRADE

LITERATURE

1. International Financial Reporting Standards (Međunarodni standardi financijskog

izvještavanja), Narodne novine br. 136/2009.

2. Act on the Accounting (Zakon o računovodstvu), Narodne novine br. 109/2007.

3. Hennie Van Greuning, International Financial Reporting Standards: A Practical

Guide (Međunarodni standardi financijskog izvješćivanja: Praktični vodič), MATE,

Zagreb, 2006.

4. Presentation of lectures, additional materials.

Final Grade Components: Percentage: Written exam 100% Total 100%

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(AC517) FINANCIAL STATEMENT ANALYSIS (ECTS 5)

The course is primarily focused on acquiring basic concepts for interpretation of financial

reports as a ground for business decision-making process at management level. The course

is especially concerned with the static analysis of financial statements (balance sheet,

income statement and cash flow statement), and dynamic analysis of the future cash flows

of the investment projects. It emphasizes the valuation of debtor's instruments and capital,

based on internationally adopted standards.

COURSE OBJECTIVES

The course “Financial Statements Analysis” is primarily aimed at the adoption of the basic

concepts of financial statement analysis and the interpretation of different financial ratios

for different groups of users of information (lenders, investors, managers, etc.), i.e. as a

basis for making daily operational decisions. Also, there is an emphasis on the use of

financial information for strategic decision making, and to recognize the warning signs of

possible problems in the future. Lectures are enriched with numerous exercises and

problem-oriented case studies. The students will be introduced to methods and analytical

techniques used by financial regulators for the direct and indirect supervision of financial

institutions.

CLASS HOURS

Lectures 20 hours Exercises 20 hours Total 40 hours

TOPICS

Syllabus, Connection between basic financial statements.

Introduction into horizontal, vertical and trend analysis.

Balance Sheet and the Income Statement (Part I).

Balance Sheet and the Income Statement (Part II).

Preparing a statement of Cash Flow.

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The Capital Budgeting System.

Analysis methods to evaluate investment projects (NPV, IRR, PI, PBP, ARR).

WACC.

Analysis of financial statements of credit institutions (capital adequacy ratio and

limitation on credit institutions).

ELEMENTS OF GRADE

LITERATURE

1. Analysis for Financial Management; Robert C. Higgins; 2008, 10th Edition,

Irwin/McGraw-Hill, USA.

2. Lectures (PowerPoint materials) on Blackboard.

3. Problem Solving Exercises and Case-Studies (Excel, PowerPoint, and Word

materials) on Blackboard.

Final Grade Components: Percentage: Oral Presentation 70% Active class participation 20% Attendance 10% Total 100%

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(AC528) FINANCIAL STATEMENT AUDIT (ECTS 6)

Auditing course is designed to provide the student with all aspects of auditing profession

and modern trends in auditing in the world, in the European Union and in the Republic of

Croatia. This course will provide students with knowledge in the field of internal and

external auditing, and the application of International Standards on Auditing and the code

of professional ethics for auditors. The students will learn about the audit process,

including the final completion of audit and the formulation of audit report. This course

provides the student with the knowledge on the role of auditors, the importance of audit

committees and internal control. The students will learn about the current challenges in

auditing profession (in the world and in the Republic of Croatia), and about the future

trends in the world that are affecting financial reporting and auditing.

COURSE OBJECTIVES

The course Financial Statement Audit is designed to provide the student with a thorough

introduction to auditing profession and modern trends in auditing in the world, in the

European Union and in the Republic of Croatia. This course will cover financial statements

audit, and the application of International Standards on Auditing and the Code of

professional ethics for auditors. The students will learn about the audit process, including

the final completion of audit and the formulation of audit report. This course provides the

student with the knowledge on the role of auditors, the importance of audit committees

and internal control.

CLASS HOURS

Lectures 30 hours Practical work 10 hours Total 40 hours

TOPICS

Introduction to auditing.

Financial statements audit process.

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Challenges for the audit profession.

ELEMENTS OF GRADE

LITERATURE

1. Soltani, B.: Revizija – međunarodni pristup, prijevod s engleskog jezika, MATE,

Zagreb, 2010.

2. Materials posted on Blackboard.

3. Auditing Act (Zakon o reviziji, NN br. 146. Od 12.12.2005.).

4. Act on the changes of the Auditing Act (Zakon o izmjenama I dopunama Zakona o

reviziji, NN br. 139. od 03.12.2008.).

5. International Standards on Auditing.

6. Code of Ethics for Professional Accountants.

7. Croatian Audit Chamber (Hrvatska revizorska komora) - International Standards on

Auditing, Code of Ethics for Professional Accountants.

8. Narodne novine (Auditing Act, Act on the changes of the Auditing Act).

Final Grade Components: Percentage: Participation in class 20% Individual paper 10% Questionnaire on ethics 10% Written exam 60% Total 100%

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(IT631) INFORMATION SECURITY (ECTS 5)

Information technology has enabled organizations to work more efficiently. However, with

all its advantages, security risks and threats to confidentiality, integrity and information

accessibility have also appeared. In order to protect information sources, it is necessary to

identify and be able to handle the threats. Threats can be various; going from a human

mistake to theft, vandalism, computer crime, natural catastrophes, and many others.

COURSE OBJECTIVES

The students will be able to identify the problems of ethics and corporate social

responsibility, as well as forecast costs and benefits related to a company’s business

related to technology (homework). The students will study different literature from the

field of Information Security. They will link theoretical knowledge with real business cases.

When they face a business problem, in order to solve it, they will apply adequate methods,

coming from different fields of a chosen discipline. Students will be able to understand

general information security concepts, understand what are common threats and types of

attacks and attackers in a digital environment, understand the importance of security

standards and relevant legislation, understand technical aspects of information security,

understand the basics of protecting e-business (exam).

CLASS HOURS

Lectures 20 hours (10 days*2 hours) 5 hours (online lectures)

Exercises 20 hours (10 days*2 hours) Total 45 hours

TOPICS

What is information security and why it is important in business information

systems.

Digital threats.

Type of attacks.

Attackers.

27


Risk management basics.

Identification of resources.

Identification of threats.

Identification of vulnerabilities.

Impact assessment.

Risk assessment.

Security measures.

Documentation.

Standards and legislation.

Business continuity management.

Network protection.

Information system protection.

Application protection.

Data protection (storage, backup, archiving, databases).

Cryptography.

Vulnerabilities testing.

PKI infrastructure.

Certificates.

Concluding lecture.

ELEMENTS OF GRADE

Final Grade Components: Percentage: Class participation & attendance 5% Homework 25% Mid-term exam 25%

Final exam 25%

Case study 20%

Total 100%

28


LITERATURE

1. Secrets & Lies, Digital Security in a Networked World; Bruce Schneier (John Wiley &

Sons, 2000 ISBN 0-471-25311-1 ).

2. CompTIASecuity + Deluxe Study Guide; Emmet Dulaney; Wiley Publishing Inc.,

2009. (ISBN: 978-0-470-37296-8).

3. Blackboard:Lecture handouts, presentations, case studies, questions for discussion.

29


(SC999) INTERNATIONAL AND EU TAX LAW (ECTS 5)

To successfully manage your private and business assets you need to know how much the

state will charge you for it. If you want to work on the boards of multinational companies

and be "a citizen of the world" you need to know how taxation of top managers is regulated.

We will examine the basis of taxation for say a chalet that you might have in Switzerland or

your dividends in a foreign joint stock company. You might have a company with branches

all over the world or shares in foreign companies all of which can be subject to taxation in

several countries.

COURSE OBJECTIVES

The main objective of the course is to raise students' awareness of the impact of legal rules

and their relevance for everyday life and business. We especially emphasize that legal

framework is a part of a common macroeconomic environment and therefore influences

directly business processes and achieved results. Therefore it is necessary to introduce

students to rules and legal requirements with which they will meet in their future work

and business and possible issues that can occur, as well as offer them a perspective on how

to fix them.

CLASS HOURS


TOPICS

Introduction to the OECD Model Convention, basic concepts of limited and unlimited

tax liabilities.

Introductory provisions of the OECD Model Convention.

Hypothetical case (students will apply the provision of OECD Model Convention

concerning the taxation of real estates).

30


Hypothetical case (students will apply OECD Model Convention on provisions on

taxation of dividends, interest and income from capital).

Transfer pricing.

Corporate income.

The concept of "dealing at arms length" in terms of taxation of legal persons.

Methods of avoidance of double taxation.

The basic elements of the tax law of European Union.

EU Directive on taxation of parent companies and their subsidiaries, Analisys of the

case law of the Court of Justice of the EU - Denkavit (C-283/94), Epson (C-375/98),

Anthinaiki Zythopoiia (C-294/99), Bosal (C-168/01), Oce (C-58/01).

EU Directive on taxation applicable to mergers, Relevant case law of the Court of

Justice of the EU will be discussed - Leur-Bloem (C-28/95), Andersen & Jensen ApS

(C-43/00), SEVIC (C-411/03), Kofoed (C-325/05).

Future changes in EU law and introduction of automatic information exchange

concerning bank account balances.

Taxation of intellectual property in Member States.

Students prepare short presentations of the most important cases of the Court of

Justice of the EU.

ELEMENTS OF GRADE

LITERATURE

1. Osnove međunarodnog poreznog prava', Olivera Lončarić-Horvat i Hrvoje Arbutina,

Narodne Novine, Zagreb 2007.

2. OECD Model Tax Convention on Income and Capital with commentary.

Final Grade Components: Percentage: Class attendance 20% Written and/or oral exam 70% Term paper or additional activities 10%

Total 100%

31


3. COUNCIL DIRECTIVE 2009/133/EC of 19 October 2009 on the common system of

taxation applicable to mergers, divisions, partial divisions, transfers of assets and

exchanges of shares concerning companies of different Member States and to the

transfer of the registered office of an SE or SCE between Member States EU.

4. COUNCIL DIRECTIVE 2003/48/EC of 3 June 2003 on taxation of savings income in

the form of interest payments.

5. COUNCIL DIRECTIVE 2011/96/EU of 30 November 2011 on the common system of

taxation applicable in the case of parent companies and subsidiaries of different

Member States.

6. COUNCIL DIRECTIVE 2003/48/EC of 3 June 2003 on taxation of savings income in

the form of interest payments .

7. EU Court of Justice case law - Denkavit (C-283/94), Epson (C-375/98), Anthinaiki

Zythopoiia (C-294/99), Bosal (C-168/01), Oce (C-58/01), Leur-Bloem (C-28/95),

Andersen & Jensen ApS (C-43/00), SEVIC (C-411/03), Kofoed (C-325/05),

Commission v France (270/83), Daily Mail (81/87), Biehl (175/88), Werner (C-

112/91),

Schumacker (C-279/93), Commerzbank AG (C-330/91), Saint

Gobain (C-307/97), Verkooijen (C-35/98), Lenz (C-315/02), FII (C-446/04), Burda

(C-284/06), Marks&Spencer (C-446/03), Columbus (C-298/05), NV Lammersi dr.

(C-105/07).

8. 'Model ugovora o izbjegavanju dvostrukog oporezivanja s komentarom', urednice

Marica Houška, Tajana Vrban, Porezni Vjesnik, Zagreb 2011.

9. 'Materials on International and EU Tax Law 2011-2012', Kees Van Raad (ed),

Volumes 1 & 2, Leiden 2011.

10. 'Jedan napor za postignuće harmonizacije oporezivanja dobiti u Europskoj Uniji:

direktiva o matičnom I zavisnom društvu', Hrvoje Arbutina, Godišnjak Akademije

pravnih znanosti Hrvatske, Vol.1 No.1 Prosinac 2010.

11. Porezna uprava – www.porezna-uprava.hr

12. Ugovori o izbjegavanju dvostrukog oporezivanja -http://www.porezna-

uprava.hr/propisi/u_sklopljeni.asp?id=b04d2

http://www.porezna-uprava.hr/

http://www.porezna-uprava.hr/propisi/u_sklopljeni.asp?id=b04d2

http://www.porezna-uprava.hr/propisi/u_sklopljeni.asp?id=b04d2

32


13. Narodne novine – www.nn.hr

14. EU Court of Justice – www.curia.eu

15. OECD – www.oecd.org

Model Tax Convention on Income and Capital –

http://www.oecd.org/tax/taxtreaties/oecdmodeltaxconventiononincomeandoncapital-

anoverviewofavailableproducts.htm

http://www.nn.hr/

http://www.curia.eu/

http://www.oecd.org/

http://www.oecd.org/tax/taxtreaties/oecdmodeltaxconventiononincomeandoncapital-anoverviewofavailableproducts.htm

http://www.oecd.org/tax/taxtreaties/oecdmodeltaxconventiononincomeandoncapital-anoverviewofavailableproducts.htm

33


(EC533) INTRODUCTION TO FINANCIAL ECONOMETRICS (ECTS 2)

Financial econometrics is the econometrics applied to time sequence series of variables in financial

markets: in particular, value of securities and their return. Most of the available financial data

represents a time sequence, and accordingly, financial econometrics is mainly econometrics of time

sequences. This subject will provide an overview of the financial data features, in an attempt to

introduce a framework model for this process.

COURSE OBJECTIVES

The main goal of this course is developing students' analytical thinking about financial variables by

teaching them how to identify and model special features of financial time series, and forecast their

future behavior using econometric methods and computer technologies.

CLASS HOURS


TOPICS

Introduction to financial econometrics – Classical linear regression.

Properties of CLR estimators, hypothesis testing.

Introduction to financial data and their analysis.

CAPM (Capital Asset Pricing Model).

CAPM and CLR – extensions and forecasting.

CAPM and CLR – relaxing the initial model assumptions.

Modeling and forecasting return volatility.

Value-at-Risk (VaR) analysis.

ELEMENTS OF GRADE

Final Grade Components: Percentage: Written presentation of knowledge 40% Critical and analytical thinking 40% Presentation of advanced use of IT 20% Total 100%

34


LITERATURE

1. C. Brooks (2002.), Introductory Econometrics for Finance, Cambridge University Press.

2. J. Kmenta (1997.) Poc ela ekonometrije, second edition, Mate, Zagreb.

3. W. Greene (2003.), Econometric Analysis, Prentice Hall, 5th Edition.

4. J.H. Cochrane (2001.), Asset pricing, Princeton University Press, NJ.

5. BlackBoard.

6. J.Y. Campbell, A.W. Lo and A.C. MacKinlay (1997.) The Econometrics of Financial Markets,

Princeton University Press, NJ.

7. J.D. Hamilton (1994.), Time series analysis, Princeton University Press, NJ.

35


(MN610) LEADERSHIP (ECTS 4)

Various types of leadership are crucial for the survival of any given organization. With

practical examples and role playing, this course places an emphasis on motivation,

understanding, interpersonal relationships, and models of communication, change

management, listening skills, team work, conflict solution, negotiating, time management,

goal setting and organizational values.

COURSE OBJECTIVES

The students will study different literature from the general filed of leadership and

management. They will link theoretical knowledge with real business cases. They will apply

leadership theories to address and solve real-life business problems, drawing from various

aspects of leadership and management. And they will make classroom presentations about

the strengths and weaknesses of various leadership approaches. The students will study

leadership and management literature and thus acquire necessary knowledge that will help

them complete their homework, pass their exams, make classroom presentations, exercise

in role plays.

CLASS HOURS

Lectures 12 hours Classroom exercises 20 hours Total 32 hours

TOPICS

Introduction.

Trait approach to leadership.

Skills approach to leadership.

Style approach to leadership.

Situational approach to leadership.

Contingency theory.

36


Path-goal theory.

Leader-member exchange theory.

Transformational leadership.

Conversation probes.

Deep interviews.

Servant leadership.

Exercises in leadership.

ELEMENTS OF GRADE

OR

LITERATURE

1. Northouse, P.G. (2010) Leadership Theory and Practice Sixth Edition. Sage.

2. Barbuto, J. E. (1997). Taking the charisma out of transformational leadership,

Journal of Social Behavior and Personality 12 (3), 689-697.

3. Bass, B. M. (1990). From Transactional to Transformational Leadership: Learning to

Share the Vision. Organizational Dynamics, 18(3), 19-31.

4. Blake, R. R. & Mouton, J. S. (1982). How to choose a leadership style. Training and

Development Journal, February 1982.

5. French, R.P. Jr. & Raven, B. (1959). The bases of social power. In D. Cartwright

(Ed.),Studies in Social Power , 150-167. Ann Arbor: University of Michigan Press.

Final Grade Components: Percentage: Attendance 40% Leadership Exercises 20% Final Exam 40% Total 100%

Final Grade Components: Percentage: Final Exam 40% Critical Essay 60% Total 100%

37


6. Greenleaf, R. K. (1970). Servant as leader. From The servant leader within: The

transformational path. Mahwah, NJ: Paulist Press.

7. Heifitz, R.A & Laurie, D. L. (1997). The work of leadership. Harvard Business

Review. 75(1), 124-34.

8. Kotter, J.P. (1995). What leaders really do. In J. Wren, (Ed.), The leaders companion:

Insights on leadership through the ages (p. 114). New York, NY: The Free Press.

9. Rost, J. C. (1991). Leadership and management. From Leadership for the twenty-

first century. New York: Praeger.

38


(MN564) MANAGEMENT OF CHANGE AND HUMAN RESOURCES (ECTS 5)

The first course, Management of Change and Human Resources, focuses on the micro

aspect of change, as well as psychological resistance to change. In this course, you will

cover the basic functions of human resource management by studying your own

organization, by working with other, and by completing a project. You will also engage in

an analysis of work places and job descriptions. The functions covered in this course

include: recruiting, selection and introduction to the workplace, employee training, etc.

COURSE OBJECTIVES

In their workplace, students will encounter and deal with ethical issues related to their

course projects. Peer groups will have the possibility to discuss specific real ethical issues

and help their peers find the most ethical solutions. After being presented with HRM

overview, students will deepen their HRM knowledge by examining more specialized topics

related to strategically critical HRM issues – employee selection, intrinsic motivation,

employee engagement, world-class best practices and HRM specific ethical issues.

CLASS HOURS

Contact hours 40 hours Total 40 hours

TOPICS

Syllabus.

HRM functions, preparation for project proposal.

HRM as a strategic approach, employee talent and drive as organizational

advantage.

World-class best practices on what makes a company a great place to work.

Intrinsic motivation as a driver for superior organizational performance.

Employee engagement and involvement as a strategic advantage.

Specific HRM ethical issues, research methods and topics for class paper.

39


Student presentations, discussions.

ELEMENTS OF GRADE

OR

LITERATURE

1. Noe, R.A., Hollenbeck, J.R., Gerhart, J.R. i Wright, P.M. (2006). Menadžment ljudskih

potencijala: Postizanje konkurentske prednosti, (III. izdanje). Zagreb: Mate.

2. Marušić, S. (2006). Upravljanje ljudskim potencijalima (IV. izdanje). Zagreb: Adeco.

3. Richards, voice over power point slides on HRM overview.

4. Jim Collins’ video and audio presentations at

5. http://www.jimcollins.com/media_topics/first-who.html

6. Erickson, Tamara, “Who are the ‘right people’ on the bus?”, Harvard Business

Review Blog, Saturday May 9, 2009. Found at

http://blogs.hbr.org/erickson/2009/05/who_are_the_right_people_to_in.html.

7. Great Place To Work: http://www.greatplacetowork.net/.

8. Company web pages for Boehringer-Ingelheim, Gore, Cisco, Bain, Jones Lang LaSalle,

Richard Ellis, Twinings.

9. Csikszentmihalyi, M.

http://www.ted.com/talks/mihaly_csikszentmihalyi_on_flow.html.

10. Gladwell, M. http://www.youtube.com/watch?v=pIYUMwxKFzo&feature=related.

Final Grade Components: Percentage: In class participation 20% Research Paper 50% Class presentation 30% Total 100%

Final Grade Components: Percentage: Research Paper 60% Class presentation 40%

Total 100%

http://www.jimcollins.com/media_topics/first-who.html

http://blogs.hbr.org/erickson/2009/05/who_are_the_right_people_to_in.html

http://www.greatplacetowork.net/

http://www.ted.com/talks/mihaly_csikszentmihalyi_on_flow.html

http://www.youtube.com/watch?v=pIYUMwxKFzo&feature=related

40


11. Pink, D. http://www.youtube.com/watch?v=u6XAPnuFjJc.

12. Article on Herzberg: http://knol.google.com/k/frederick-herzberg#.

13. Yugoslavian worker councils at

file:///Users/rr0043184/Desktop/zagreb%20hr%202012/Yugoslavia%20Worker

s%20self-management.html.

14. Johnsonville Inc., “Chasing Greatness”, THE NATIONAL PROVISIONER |

PROVISIONER ONLINE.COM | FEBRUARY 2007.

15. Sayer, R. “How I Learned to Let My Workers Lead”, Harvard Business Review

November-December 1990.

16. Skreblin, Korican, Richards HRM Ethics.

17. Students will be required to do their own research in their project area using Ebsco

Host and Emerald Insight database (access is available only on ZSEM Campus).

18. Students will also receive additional readings and material during the period of the

course as needed (most of materials will be available through BlackBoard).

http://www.youtube.com/watch?v=u6XAPnuFjJc

http://knol.google.com/k/frederick-herzberg

41


(MN570) MANAGERIAL TECHNIQUES (ECTS 3)

The course almost entirely focuses on practical exercises. It covers three of many different

management techniques: presentation, business negotiation and business decision-making.

In the first set of lectures, students will develop and hone their presentation skills. After

recording and analyzing their speeches, there are also exercises that include video-taping

and situation analysis. The second set of lectures will focus on important theoretical

concepts that will help our students understand the process of negotiation, as well as

enhance their negotiating skills. This all is followed by a series of exercises designed to

develop negotiating techniques (distributive and integrative negotiation, trust, equity,

personal styles, creativity, negotiating with multiple participants, etc). In the part dealing

with business decision-making, students will be introduced to intuitive, rational,

programmed and non-programmed, and interactive decision-making. Game theory and

value-added information in decision-making are all advanced topics that will be introduced

to students for the first time in the course of their studies.

COURSE OBJECTIVES

The aim of the course is to familiarize students with the basic knowledge of the functioning

of small groups in order to understand the processes in the team, the behavior of team

members, and team leadership. The goal is to develop presentation skills and work in

teams, strengthening interpersonall ,and communication skills particularly conflict

resolution as well as learn the process of observation and analysis of the team and

interpersonal behavior. Furthermore, the goal is also providing students with the

understanding of group dynamics within the interaction in small groups. Course provides

students with the possibility of reflection on their communication style and impact on

others in the team.

CLASS HOURS


42


ELEMENTS OF GRADE

OR

LITERATURE

1. Blackboard.

2. Tubbs, S.L. (2007). A systems approach to small group interaction. New York:

McGraw Hill.

3. Levi, D. (2011). Group dynamics for teams. Los Angeles/London: Sage.

4. Robbins, S.P. (1996). Bitni elementi organizacijskog ponašanja. Zagreb: Naklada

Mate.

5. Robbins, S.P. (2007). Organizational behavior. 12 th ed. New Jersey: Pearson

Prentice Hall.

6. Chapman, E., O'Neil, S.L. (2003). Vodstvo. Zagreb: Naklada Mate.

7. Stacey, R.D. (1997). Strateški menedžment i organizacijska dinamika. Zagreb:

Naklada Mate.

8. Weissman, J. (2006). Prezentacijom do uspjeha. Zagreb: Naklada Mate.

9. Brajša, P. (1993). Menađerskakomunikologija. Varaždin: Biblioteka informacijsko

društvo.

10. Brajša, P. (1997). 7 tajni uspješnog managementa. Zagreb: «Alinea».

11. Weissman, J. (2010). Najbolji prezenter. Zagreb:”Mate d.o.o”.

Final Grade Components: Percentage: Midterm 40% Active participating in a teamwork and the presentation 50% Attendance 10%

Total 100%

Final Grade Components: Percentage: Exam 80% Individual paper 10% Individual activity 10% Total 100%

43


12. Weissman, J. (2011). Presentation in action. New Jersay: „Pearson education”.

13. Jacks, A. (2011). Negotiation. London: Legend Business”.

14. Forsyth, P. (2011). Persuasion. London: „Legend Business”.

15. Varošanec-Škarić, G. (2005). Timbar. Zagreb, FF press.

16. Škarić, I. iVarošanec-Škarić, G. (1999). Vježbe za glas I izgovor. U. A. Bajc, K.

17. Qible, Z.K. (2010). Menadžment uredskog poslovanja. Zagreb:”Mated.o.o.

44


(MK584) MARKETING RESEARCH (ECTS 5)

Objective of this course is to teach students about problems and techniques to be used

during a market research, and enable them to collect information on their own, estimate

and use them efficiently when making business decisions. Students will learn how to

require a market research and how to evaluate and use the results. There will be also

discussions on how to plan, implement and analyze data and reports. The course is

primarily created for users, i.e. more for future marketing experts and less for specialists

dealing mostly with market research.

COURSE OBJECTIVES

Students will, perusing literature connected with Marketing Research, become familiar

with main concepts and economic interactions that pertain to following areas: research

design, defining the marketing research problem, secondary data sources, qualitative and

quantitative research approaches, sampling, etc. The students will discover problems and

offer possible solutions, as well as identify possible risks of a proposed solution. Through

the use of case examples and didactic lecture, students will have knowledge of the ethical

principles of research and appropriate codes of conduct in market research as identified by

ESOMAR and NIH.

CLASS HOURS

Lab 44 hours Total 44 hours

TOPICS

Introduction to marketing research, short quiz on statistics.

Defining the marketing research problem and developing a research approach.

Research design, secondary data collection and analysis, case.

Internal secondary data and the use of database, qualitative research, case.

Qualitative research: focus group discussions, case.

45


Qualitative research: depth interviewing and projective techniques, data analysis,

survey and quantitative observation techniques, casual research design:

experimentation, case.

Measurement and scaling: fundamentals, comparative and non-comparative scaling,

case.

Questionnaire design, midterm exam.

Sampling: design and procedures, final and initial sample size determination, survey

fieldwork, case.

Data preparation, report preparation and presentation, final paper due.

Student presentations.

ELEMENTS OF GRADE

LITERATURE

1. Marketing Research: An Applied Approach, NareshMalhotra / David Birks, FT

Financial

Times, Prentice Hall, 2007.

2. Case Study: “Western Union Co: A Case for Global Expansion” (Case available at

http://www.globalens.com/casedetail.aspx?cid=1428773,

http://www.globalens.com/casedetail.aspx?cid=1428773)

3. Blackboard.

4. Kotler P. Keller K.: Marketing Management (13th edition), Prentice Hall, 2009.

5. Solomon M., Bamossy G., Askegaard, S. Hogg, M.: Consumer Behaviour: A European

perspective (3rd edition). Pearson Education Limited, 2006.

6. Kanuk, L. L., Schiffman, L.G.: Consumer Behaviour (8th edition). Prentice Hall, 2008.

7. Malhotra, Naresh: Marketing Research, 6th edition. Prentice Hall, 2010.

Final Grade Components: Percentage: Written exam 40% Class participation 10% Final project 50% Total 100%

http://www.globalens.com/casedetail.aspx?cid=1428773

https://email.iona.edu/exchweb/bin/redir.asp?URL=http://www.globalens.com/casedetail.aspx?cid=1428773

46


8. Electronic resources:

www.semj.org

www.swlearning.com/web_resources/marketing_topics.html

www.blog.futurelab.net/

www.firstmonday.org

www.marketingblurb.com

www.quirks.com/

www.researchinfo.com/

http://www.b2binternational.com/

9. General Marketing-related sites:

http://www.census.gov

http://www.MarketingPower.com

http://cyberatlas.internet.com

http://www.ciesin.org

http://www.bea.gov

http://www.mra-net.org/

http://www.surveysystem.com/sscalc.htm

http://www.clickz.com/stats/

http://www.semj.org/

http://www.swlearning.com/web_resources/marketing_topics.html

http://www.blog.futurelab.net/

http://www.firstmonday.org/

http://www.marketingblurb.com/

http://www.quirks.com/

http://www.researchinfo.com/

http://www.b2binternational.com/

http://www.census.gov/

http://www.marketingpower.com/

http://cyberatlas.internet.com/

http://www.ciesin.org/

http://www.bea.gov/

http://www.mra-net.org/

http://www.surveysystem.com/sscalc.htm

http://www.clickz.com/stats/

47


(MN) OPERATIONS MANAGEMENT (ECTS 6)

The students study and develop mathematical and statistical models applied in decision making in production, services, marketing, finance and general business processes. The course emphasizes the creation, development and application of deterministic and stochastic systems in forecasting, production planning, inventory management, maintenance, facility location, assembly line development, critical path method and simulations. COURSE OBJECTIVES Operations management is defined as the design, operation, and improvement of the productive system that creates the firm’s products and services. This course considers and introduces the students to the following issues: 1. process analysis and capacity management 2. optimization 3. demand management and forecasting 4. revenue management 5. inventory control 6. material management 7. material requirements planning 8. project scheduling and control Students attending the module will learn how to apply theoretical concepts and develop competencies essential for active involvement in discussions relating to operations management. They will accumulate needed knowledge to solve homework, exercises, preliminary and final exams, but also knowledge needed to enhance firm’s competitiveness and to improve employees individual abilities to act in an efficient manner and in accordance with the business strategy of their company. Students will use mathematical and statistical tools for solving problems from the field of operations management which will develop their analytical skills. Also, they will be able to balance the needs for satisfying customer demand and on-time delivery with minimum cost and high quality. Students will use appropriate software to simulate real problems and solve them. In this way they will advance the usage of new technologies and will be ready for their implementation when employed. Also, this skill will make them more competitive at the labour market.

48


CLASS HOURS

TOPICS Introduction to Operations Management Operations Strategy Innovation Strategy Process Analysis and Capacity Management Sales and Operations Planning Inventory Control Material Requirements Planning Scheduling Project Management

ELEMENTS OF GRADE The course grade is based on the following:

1. First midterm exam: 0 - 40 points 2. Second midterm exam: 0 - 40 points 3. Exercises in class: 0 - 10 points 4. Home works: 0 - 5 points 5. Class Participation: 0 - 5 points

Midterm exams: students are considered to have successfully completed preliminary exam if they accumulate at least 16 points. The maximum number of points is 40. Midterm exams consist of theoretical and computational exercises and are open books. Exercises in class: the number of exercises in class is arbitrary. There is no lower limit on number of points for successful completion. The maximum number of points is 10. At the end of the semester the average will be calculated. Students have to submit at least 25% of exercises. Exercises are open book. Home works: the number of home works is arbitrary. The scope of some home works will be just to repeat the issues we passed in class. Other home works will contribute to the grading and are taking form 0 to 5 points. At the end of the semester the average will be calculated. Students have to submit at least 25% of home works. Participation: the percentage of attendance will be calculated and transferred to the scale from 0 to 5 points.

Lectures 20 hours

Exercises 20 hours

Total 40 hours

49


Final course grade: after summing all the achieved points, the final grade is determined in accordance with the following table:

Achieved points Final grade 90 - 100 Excellent (5)

80 - 89 Very good (4) 65 - 79 Good (3) 50 - 69 Pass (2)

Students that haven't passed the exam trough midterm exams have to take regular exam. Final grade elements are the same except the midterm exams points. They are substituted by the points achieved at final exam. LITERATURE Main literature: F. Robert Jacobs, Richard B. Chase, “Operations and Supply Chain Management”, McGraw-Hill/Irwin, New York (2011) Additional literature: G. Cachon, C. Terwiesch, “Matching Supply with Demand: An Introduction to Operations Management”, 3rd edition, McGraw Hill (2011) L. J. Krajewski, L. P. Ritzman, M. K. Malhotra, “Operations Management”, 9th edition, Addison – Wesley, (2010) Blackboard: lectures handouts, course reader, questions for discussion

50


(MK595) PRICE MANAGEMENT (ECTS 5)

The main objective of this course is to understand complex issues surrounding the shaping

of optimal long-term prices for products and services, resulting in a satisfying outcome.

After having completed this course, students will be able to understand current framework

for analyzing questions regarding prices and to get familiar with main techniques leading

to decisions on profitable prices.

COURSE OBJECTIVES

Students will, perusing literature connected with Price management, become familiar with

main concepts and economic interactions that pertain to following areas: conventional

versus strategic pricing, main building elements of strategic pricing, value creation as main

source of comparative advantage, price structure and market segmentation, etc. Students

attending the module will be able to identify key characteristics of corporate, national and

international macroeconomic environment, give insight how and to what extent features

relating to specific environments differ and propose solutions to adapt and react in

globalized world exposed to constant changes.

CLASS HOURS


ELEMENTS OF GRADE

Final Grade Components: Percentage: Preliminary exam 1 30%

Preliminary exam 2 30% Preliminary exam 3 30% Essays/presentations 10% Total 100%

51


LITERATURE

1. "The Strategies and Tactics of Pricing: A Guide to Growing More Profitably" (4th

edition); Nagle, T. and Hogan, J.; Pearson Prentice Hall; (2006).

2. "Pricing: Making Profitable Decisions" (3rd edition); Monroe, K. B.; McGraw-Hill;

(2003).

3. "Osnove marketinga" (4th edition); Kotler P., Wong V., Saunders J. and Armstrong G.;

Mate; (2006).

4. Blackboard: Lecture handouts, presentations, case studies, questions for discussion.

52


(MK949) PRODUCT MANAGEMENT AND DESIGN (ECTS 5)

Product and brand management creates, without any doubt, a basis for further growth,

sometimes even in the case of companies trying to survive. Large numbers of products fail

on the market. Accordingly, the objective of this course is to create managers who shall be

able and will have the knowledge to build up brands and create a long term competitive

advantage on the market. This course shall present current challenges faced by many

companies in creating their brands. Case studies differ significantly, with respect to the size

of a relevant company and types of markets.

COURSE OBJECTIVES

Construct quality marketing plans for launching new products or services or sustaining

growth in existing ones. These plans will have a strategic orientation and will include

positioning, advertising, promotion, pricing, distribution, and service. Students will solve

six comprehensive cases. All these cases require the diagnostic of firms’ events, the analysis

of industry situation, product category analysis, marketing measurement, strategic options,

and decision-making. In addition, the course covers several exercises to develop

quantitative understanding of relevant analytical methods as they apply to the field of

product design and management.

CLASS HOURS

Class and practice 40 hours Total 40 hours

TOPICS

Product management: strategic considerations.

Financial analysis for product management.

New product concept: refinement route to market, and risk reduction.

Concept generation: understanding why consumers buy products.

Product concept analysis and evaluation.

53


Forecasting and product architecture.

Developing product strategies.

Customer value and pricing strategies.

Advertising strategy: design and positioning.

Channel management decisions.

ELEMENTS OF GRADE

LITERATURE

1. Gui Lehman, Donald R. and Russell S. Winer, Product Management, 4th. Edition, 2005

McGraw-Hill Irwin, New York.

2. Case Package.

3. Drucker, Peter F. “The Discipline of Innovation,” Harvard Business Review, Nov-Dec

1998, pp: 149-157.

4. Thomke, Stefan. “Enlightened Experimentation: The New Imperative for

Innovation,” Harvard Business Review, Feb 2001.

5. Von Hippel, Eric, Thomke, Stefan, and Mary Sonnack. “Creating Breakthroughs at 3M

Corporation”, Harvard Business Review, Sept-Oct 1999.

6. Thomke, Stefan & Donald Reinertsen, “Agile Product Development, Managing

Flexibility in Uncertain Environments,” California Management Review, Vol. 41, No.

1, Fall 1998, pp 8-30.

7. Kano’s Methods for Understanding Customer-Defined Quality, Fall 1993.

8. Hepner Brodie, Christina, “A Polaroid Notebook: Concept Engineering,” Concept

Engineering Edition, 1994, pp: 7-14.

Final Grade Components: Percentage: Participation in sessions and attendance 20% Case discussions and class exercises 30% Final product management: Design and strategy group project 50% Total 100%

54


9. Akao, Yoji. An Introduction to Quality Function Deployment, Chapter 1, Management

Engineering, Tamagawa University.

10. Tabrizi, Behnam& Rick Walleigh, “Defining Next-Generation Products: An Inside

Look,” Harvard Business Review, Nov-Dec, 1997, pp 116-124.

11. Anschuetz, Ned F. Evaluating Ideas and Concepts for New Consumer Products,

Chapter 14, The PMDA Handbook of New Product Development, pp. 195-206. John

Wiley&Sons.

12. Cutherell, David, Product Architecture, Chapter 16, The PMDA Handbook of New

Product Development, pp. 217-235. John Wiley & Sons.

13. MacMilland& McGrath, Rita Gunther, “Discovering New Points of Differentiation,”

Harvard Business Review, July-August, 1977, pp; 133-145.

14. Newman, Richard G. & John M. McKeller, “Target Pricing – A Challenge for

Purchasing,” Journal of Purchasing and Materials Management, Summer 1995,

pp.13-20.

15. Keller, Kevin Lane, “The Brand Report Card,” Harvard Business Review, January-

February, 2000, pp. 147-157.

16. Keller, Kevin Lane, “Managing Brands for the Long Run: Brand Reinforcement and

Revitalization Strategies,” California Management Review, Vol. 41, No. 3, Spring

1999, pp: 102-124.

17. Robertson, Thomas S. “How to Reduce Market Penetration Cycle Times,” Sloan

Management Review, Fall 1993, pp. 87-96.

55


(FN551) RANDOM PROCESS OF FINANCIAL MARKETS (ECTS 3)

Markov processes and reconstruction processes. Simple Markov processes. Homogeneous

Markov chains. Stationary conditions. Spectral decomposition. Application on stock price

fluctuation. Classification of conditions. Preparation for assessment of students`

knowledge. Brownian motion. Stochastic integrals and stochastic differential equations.

Ito`s lemma. Geometric Brownian motion. Ornstein-Uhlenbeck process. Cox, Ingersoll-Ross

model. Euler discretization. Binomial tree. Path simulations in a diffused process.

Application of maximum likelihood method. Method of moments. Monte Carlo simulations.

Monofactorial models. Rendeleman-Bartter model. Vasicek model. Hull White

model.Application of trees on interest rates. Merton model. Cox Ross model. Models with

stochastic volatility.

COURSE OBJECTIVES

The course Stochastic processes in the financial markets provides a basis and a framework

for quantitative understanding and description of stochastic processes that daily take place

in the financial markets. During the course (a) an insight into the mechanisms leading to

stochastic processes is given and quantities (such as stock prices or interest rates),

variation of which is described by the stochastic processes, are identified; (b) a

mathematical framework for the description, characterization and classification of the

stochastic processes is defined; (c) mathematical tools for analytical and numerical

description and/or simulation of stochastic processes are developed; (d) the most

important models suitable for the description of the stochastic processes in the financial

markets such as the variation of stock prices, the valuation of derivatives, dynamics of

interest rates and exchange rates, etc. are elaborated; (e) a practical connection with

empirical data for quantities in the financial markets that follow stochastic processes is

demonstrated. Within the course, the theoretical concepts are illustrated by the analyses of

several practical problems: the description of the variation of stock prices using the model

56


of simple random walk; the valuation of the European option using the binomial tree; and

the simulation of the stochastic process using the Euler discretization scheme.

CLASS HOURS

Lectures 24 hours Exercises 6 hours Total 30 hours TOPICS

The causes of stochastic processes in the financial markets.

Definition of stochastic processes.

Processes of Markov and renewal processes, Wiener processes and Brownian

motion.

Markov chains.

Simple random walk as a model of variation of stock price.

Stochastic calculus.

The most important types of stochastic differential equations.

Numerical approximations of stochastic processes.

Merton model and Black-Scholes equation for the valuation of options.

One-factor models.

ELEMENTS OF GRADE

LITERATURE

1. Hwei P. Hsu, Schaum's outline of theory and problems of probability, random

variables, and random processes, McGraw-Hill, 1996.

2. Presentations and working materials used for lectures and other supplementary

materials at Blackboard pages of the course.

3. S.I. Resnick, Adventures in Stochastic Processes, Birkhäuser Boston, 2002.

Final Grade Components: Percentage: Exam (written and oral part) 50% Practical problem (data processing on a computer) 20% Participation in classes and homework problems 30%

Total 100%

57


4. D. Brigo, F. Mercurio, Interest Rate Models - Theory and Practice, Springer Finance,

2001.

5. P. Wilmott, Derivatives, Wiley, 1998.

58


(IT639) SAP/MS DYNAMICS NAV (ECTS 6)

This course is designed to develop the student's ability of introducing planning and

management of ERP systems to become competitive, productive and flexible in time of

global economy. When selecting the ERP system to offer students the opportunity to

introduce more detailed, ZSEM selected the SAP as one of the currently the largest software

company in Europe and fourth largest in the world, and also the world's largest producer of

ERP systems, and MS Dynamics NAV as the first and so far the only ERP (Enterprise

Resource Planning) system for small and medium enterprises that have over one million

user licenses in the world. Since SAP and MS NAV are used from more than one hundred

thousand companies, it is very likely that the students use it during their professional

careers. SAP and NAV are certainly good examples where the students can learn basic

functionality of the systems and try them.

COURSE OBJECTIVES

Students will among business cases and exam issues be able to identify the problems of

ethics and social responsibility in business as well as the implications of value system to

the use of new technologies in business. Students will learn to implement ERP system in a

small, middle and large company and learn to manage the ERP system. Described events in

an imaginary environment, students independently monitored using SAP/ Microsoft

Dynamics NAV system with an explanation of the vertical and horizontal integration.

During preparation of the amounts of each exercise, students learned or acquired their own

knowledge and experiences that are included in the content of the exercise. Finally, through

a joint general comment detect parts of the ERP data model used during the exercise.

CLASS HOURS

Lectures 22,5 hours (7,5 weeks*3 hours) Exercises, case study work, project 22,5 hours (7,5 weeks*3 hours) Online 15 hours Total 60 hours

59


TOPICS

Review the organization of the course, defining terminology ERP market

segmentation and a brief overview of historical development.

Navigation and graphical user interface, views master and transactional data, login

to the system, explaining the menu system.

Overview of financial management modules.

Review accounting of the cost and profit centers, definition and use of ERP

dimensions.

Display of documents of sale, procedures for entering the document, recurring

entries, cancellations.

Description of the procurement process and monitoring.

Description and tracking the sales process.

Overview of modules to manage money and banking operations.

CRM and receivables management.

The definition and description of the SCM.

Managing debt and payment process.

View customization of business processes and analytical reporting.

Example of monitoring operations.

Example of analysis of business results.

ELEMENTS OF GRADE

*Additional points:

Final Grade Components: Percentage: Exercises 60% Project 10% Essay (ethics and corporate social responsibility) 5%

Sap.com/Microsoft portal-usage 5% Final exam 20% Total 100%

60


Case study 10%

LITERATURE

1. Blackboard - Lecture handouts, presentations, case studies, questions for discussion.

2. SAP online help portal http://help.sap.com

3. MS Dynamics portal: http://www.microsoft.com or http://dynamicsuser.net/

http://help.sap.com/

http://www.microsoft.com/

http://dynamicsuser.net/

61


(MT622) SELECTED CHAPTERS OF FINANCIAL MATHEMATICS (ECTS 3)

Financial intermediation, basic elements and physiognomic of financial systems: the

concept and classification of financial instruments, basic physiognomic of financial

intermediation system, mathematical structure of financial instruments, time value of

money, simple and compound interest calculation.

COURSE OBJECTIVES

The main goal of the course is to learn different systems of financial intermediation,

intermediation elements and mathematical techniques that are used in market valuation of

debtors' financial instruments and selected types of derivatives. Besides developing

quantitative approach to business and financial problems, this course enables students to

recognize structure in a financial system, classification of financial instruments from the

perspective of their role in financial intermediation and from the perspective of different

combination of their economic and mathematical characteristics, to differ contract and

market elements in valuation of financial instruments and to learn market valuation of

debtors' financial instruments in detail. Course also teaches techniques of valuation of

future yields of basic securities' portfolios. Last part of the course give a short overview of

functioning and market valuation of certain types of derivatives.

CLASS HOURS


TOPICS

Financial intermediation.

Zero coupon bonds.

Coupon bonds.

Bonds quotation – Case study: US Treasury Bonds Quotation.

62


Yield curve and hedging.

Bonds’ portfolio yield measures.

Derivatives and corporate bonds.

ELEMENTS OF GRADE

OR

LITERATURE

8. BB materials.

9. B. Gruić, I. Jemrić, I. Šutalo, H. Volarević: “Mathematics for ecnomists and managers”,

ZŠEM i Mate d.o.o. 2006.

10. Z. Bodie, A. Kane, A.J. Marcus: “Investments”, ZŠEM i Mate d.o.o. 2006.

11. J. Cvitanić, F. Zapatero: “Introduction to the Economics and Mathematics of

Financial Markets”, MIT Press, 2004.

12. The handbook of fixed income securities, Frank J. Fabozzi, Irwin professional

publishing, 1997.

13. Financial modelling, Zdravka Aljinović, Branka Marasović, Boško Šego, Zagreb,

Zgombić & Partneri, 2008.

14. Fundamentals of Futures and Options Markets, John C. Hull, Pearson Prentice Hall,

2008.

Final Grade Components: Percentage: Written exam 50% Oral exam 50%

Total 100%

Final Grade Components: Percentage: Written exam 50% Oral presentation 50% Total 100%

63


(MK583) SERVICES MARKETING (ECTS 5)

Services are increasingly becoming a relevant incentive for national economies, presenting

very often a significant force in achieving competitive advantage in various manufacturing

companies. Services have spread from traditional areas (tourism, catering, health

companies etc.) to almost every kind of field. The goal of this course is to teach about

services marketing as a special part of the marketing orientation and every day work.

Course activities focus on analysis and value estimation of the services marketing, which

represent a basis for strategic decision making process in traditional and non-traditional

services.

COURSE OBJECTIVES

The main goal of Services Marketing course is to provide understanding and investigation

of the “service element” in marketing, to study and analyze the customer service provided

by organizations, to assess firm strategies related to successful retention and loyalty of

customers and to learn about relationship marketing and service failure/recovery issues in

the service sector.

CLASS HOURS

Course sessions 30 hours Reading 40 hours Group work 60 hours Total 130 hours

TOPICS

Review of marketing, evaluation/importance of services, gap model of services.

Understanding the drivers of consumer expectations and performance.

Closing the knowledge gap (gap 1).

Closing the service design and standards gap (gap 2).

Closing the service performance and communication gap (gaps 3&4).

64


ELEMENTS OF GRADE

LITERATURE

1. Services Marketing (Paperback) by Valarie A. Zeithaml, Mary Jo Bitner, Dwayne D.

Gremler, McGraw Hill Higher Education; 5th edition (July 1, 2008).

Final Grade Components: Percentage: In-class discussion 10% Individual paper 30% Exam 30% Group case analysis 30% Total 100%

65


(FN551) RANDOM (Stochastic) PROCESSES OF FINANCIAL MARKETS

(ECTS 3)

Markov processes and reconstruction processes. Simple Markov processes. Homogeneous

Markov chains. Stationary conditions. Spectral decomposition. Application on stock price

fluctuation. Classification of conditions. Preparation for assessment of students`

knowledge. Brownian motion. Stochastic integrals and stochastic differential equations.

Ito`s lemma. Geometric Brownian motion. Ornstein-Uhlenbeck process. Cox, Ingersoll-Ross

model. Euler discretization. Binomial tree. Path simulations in a diffused process.

Application of maximum likelihood method. Method of moments. Monte Carlo simulations.

Monofactorial models. Rendeleman-Bartter model. Vasicek model. Hull White model.

Application of trees on interest rates. Merton model. Cox Ross model. Models with

stochastic volatility.

COURSE OBJECTIVES

The course Stochastic processes in the financial markets provides a basis and a framework

for quantitative understanding and description of stochastic processes that daily take place

in the financial markets. During the course (a) an insight into the mechanisms leading to

stochastic processes is given and quantities (such as stock prices or interest rates),

variation of which is described by the stochastic processes, are identified; (b) a

mathematical framework for the description, characterization and classification of the

stochastic processes is defined; (c) mathematical tools for analytical and numerical

description and/or simulation of stochastic processes are developed; (d) the most

important models suitable for the description of the stochastic processes in the financial

markets such as the variation of stock prices, the valuation of derivatives, dynamics of

interest rates and exchange rates, etc. are elaborated; (e) a practical connection with

empirical data for quantities in the financial markets that follow stochastic processes is

demonstrated. Within the course, the theoretical concepts are illustrated by the analyses of

several practical problems: the description of the variation of stock prices using the model

of simple random walk; the valuation of the European option using the binomial tree; and

the simulation of the stochastic process using the Euler discretization scheme.

66


CLASS HOURS


TOPICS

The causes of stochastic processes in the financial markets.

Definition of stochastic processes.

Processes of Markov and renewal processes, Wiener processes and Brownian

motion.

Markov chains.

Simple random walk as a model of variation of stock price.

Stochastic calculus.

The most important types of stochastic differential equations.

Numerical approximations of stochastic processes.

Merton model and Black-Scholes equation for the valuation of options.

One-factor models.

ELEMENTS OF GRADE

LITERATURE

6. Hwei P. Hsu, Schaum's outline of theory and problems of probability, random

variables, and random processes, McGraw-Hill, 1996.

7. Presentations and working materials used for lectures and other supplementary

materials at Blackboard pages of the course.

8. S.I. Resnick, Adventures in Stochastic Processes, Birkhäuser Boston, 2002.

Final Grade Components: Percentage: Exam (written and oral part) 50% Practical problem (data processing on a computer) 20% Participation in classes and homework problems 30%

Total 100%

67


9. D. Brigo, F. Mercurio, Interest Rate Models - Theory and Practice, Springer Finance,

2001.

10. P. Wilmott, Derivatives, Wiley, 1998.

68


(MN710) STRATEGY (ECTS 5)

The course is based on the following concepts and management strategies: developing a

capacity for strategic thinking, estimating alternatives, forecasts and management of

strategic change; connecting different managerial disciplines; reactions to acquisitions,

outsourcing, decreasing the number of employees, joint ventures, strategic mergers;

development, coordination and managing financial, physical and human resources;

strategy models, competitive advantage, strategic options.

COURSE OBJECTIVES

Purpose of this course is to get better understanding of competitive forces in the world in

wich organization operate, with special emphasis on maintaining superiore competitive

position of company. Strategic leadership and entrepreneurship will be examine through

analysis of corporation culture and values. Developing will be in systematic and holistic

approach, understanding interactions of outside and inside surrounding of company.

Students will achieve valuable experience with real bussiness situations bounded with

strategy through team work by analyzing cases from practices.

CLASS HOURS

Lectures 20 hours (5 days*4 hours) Classroom exercises 20 hours (5 days*4 hours) Total 40 hours

TOPICS

Blue Ocean Strategy.

Managing internal operations – principles of Lean management.

Mergers & Acquisition.

Strategy for airline industry and turnaround strategy in Croatia Airlines.

Strategies for fast growing industry – mobile companies – case Tele2.

Business model, industry analysis, industry evolution.

69


Sources of competitive advantage, organizational growth change and adaption.

Strategies in the hotel industry.

ELEMENTS OF GRADE

LITERATURE

1. Thompson, Strickland, Gamble (2006). Strategic management, Mate, Zagreb.

2. Vietor, Richard H. K. (2010): Kako se zemlje natječu. Harvard Business School Press,

Mate i ZŠEM.

3. Ghemawat Pankaj (2010): Redefiniranje globalne strategije. Harvard Business

School Press, Mate I ZŠEM.

4. Jackson, M. C. (2003). Systems Thinking: Creative Holism for Managers. Chichester:

John Wiley & Sons.

5. Đuro Njavro & Kristijan Krkač: Business Ethics and Corporate Social Responsibility,

Mate i ZŠEM, Zagreb.

6. Press

Financial Times (FT) – Journal, English language

Wall Street Journal (WSJ) – Journal, English language

The Economist – Weekly, English language

Banka magazine – Monthly, Croatian language

Harvard Business Review – Monthly, English language

Lider – Weekly

Eukonoist – Weekly

Strategic Management Journal

7. Web-pages

Final Grade Components: Percentage: Written exam 40% Project 60% Total 100%

70


http://web.mit.edu/smr/

www.forbes.com

www.fortune.com

www.business.hr

http://web.mit.edu/smr/

http://www.forbes.com/

http://www.fortune.com/

http://www.business.hr/

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