No prerequisites

By the end of this subject, students will be able to have: 1. knowledge and understanding of the scientific and mathematical principles underlying the branch of industrial engineering; 2. awareness of the wider multidisciplinary context of engineering, applying knowledge of mathematics, statistics, economics and other scientific fields to the analysis of business situations. 3. the ability to apply their knowledge and understanding to analyse engineering products, processes and methods; 4. an understanding of methodologies, and an ability to use them in the analysis of business situations; 5. the ability to select and use appropriate methods in the management of the companies; 6. an awareness of the non-technical implications of engineering practice within the management of the companies; 7. function effectively as an individual and as a member of a team; 8. demonstrate awareness of the health, safety and legal issues and responsibilities of engineering practice, the impact of engineering solutions in a societal and environmental context, and commit to professional ethics, responsibilities and norms of engineering practice; 9. demonstrate an awareness of project management and business practices, such as risk and change management, and understand their limitations.

1.Concept of the firm * Key concepts. * Typology. * Institutional and legal framework. * Management activities. Main functional areas. The Operations subsystem. 2. Financial management 2.1.Accounting. Analysis of financial statements * The Balance Sheet. * The Income Statement. 2.2. Investment decisions * Analysis of investment projects. * Mutually exclusive projects. 2.3. Financing decisions * Financing sources. * Debt financing, equity financing. 3. Analysis of the company¿s economic environment to support decision making 3.1. Supply and demand. Perfect and imperfect competition. 3.2. Social and environmental framework of the business firm. Government intervention. 4. Strategic managment * The strategic analysis process. * Major analysis tools. * The management function. * Business processes and cross-functional integration * Entrepreneurship. 5. Marketing and sales management * Marketing fundamentals. * The four basic marketing aspects. Marketing Mix. * The marketing plan. 6. Human resource management * Main functions. * Leadership and motivation. * Organizational structure. 7. Role of engineering and engineers in business administration.

Lectures, exercises, practical sessions, cases and assignments to be carried out by the students and discussed during the sessions, readings assigned by the instructor or identified by the students.