The course focuses on basic concepts and models to understand and handle economic, organisational and management issues in technology-based and industrial activities, as an engineer.
Module 1: Industrial value creation
Module 2: Product costing
- C/I (Cost/Income) analysis
- Product costing
- Investement apperaisal
Module 3: Financial accounting and corporate finance
- Book-keeping accounting
- Annual report and financial analysis
- Corporate finance
The course consists of lectures and calculation exercises (in module 2 and 3) and is examined through three partial exams (each 1.5 higher education credits) and a written assignment (1.5 higher education credits). The grades on the written assignment are combined to a final course grade.
Engineering work is about more than technology. As an engineer, to be able to participate in technology-based businesses, to carry out projects, to develop activities, as well as to lead teams and co-workers in companies of today, good knowledge of industrial management is required. In practice, the success often relies on understanding both the technical and the economic aspects of decisions. This course gives you basic knowledge in industrial management.
Concretely, this implies that you on completion of the course should be able to:
- describe and explain different technology-based business models and the dynamics of value creation, value proposition and value capture in industrial enterprises,
- describe and explain how industrial operations are led and organised,
- select, use and interpret economic calculations as a basis for decision-making in different business situations,
- use the basic concepts and the principles of bookkeeping and accounting, and describe and explain how the operations of an industrial enterprise can be financed,
- compile and analyse financial reports for an industrial enterprise,
- describe the activities and strategic position of an existing industrial enterprise by means of concepts from the subject industrial management and carry out a basic economic analysis of the company's activities financial position and how it is financed.
