The core curriculum at GISMA Business School teaches the fundamentals of business administration in a well-balanced, interdisciplinary way, giving managers of every description the insight and skills they need to master complex challenges and make well-guided business decisions.
Managerial Economics (2 credit hours)
This course deals with the economic decisions made by individuals and companies, and how these decisions affect prices and production. The problems associated with the allocation of limited resources and the spread of income are also addressed. From a neoclassical standpoint, the course looks at market developments in relation to supply & demand as well as manufacturing and exchange rates. A strong emphasis is placed on decision-making tools and approaches which are of key significance in the business world.
Accounting for Managers (3 credit hours)
The first part of this course teaches students how to record profit and loss data in line with reporting requirements, use asset and revenue accounts to keep track of business finances, and analyze a balance sheet or a profit & loss statement. Case studies are used to interpret business reports by drilling down to specific events and decisions which led to certain outcomes, thus giving students a real-world grasp of cause and effect.
The second part of this course examines a company’s internal methods of costing goods or services and how to interpret them from a managerial perspective. A variety of manufacturing and service industries are studied, thus providing insight into flexible cost systems which provide the best match for each company in terms of its particular technological field, competitive standing or multinational setting.
Business Analytics (3 credit hours)
In this course students learn how to make sound business decisions on the basis of quantitative analysis. Among the methods applied to solving management challenges are descriptive statistics, probability theory, simulation models, interval estimates and hypothetical analysis. The course also deals with regression procedures, forecasting techniques and statistical modeling.
Behavior in Organizations (OBHR) (2 credit hours)
Individual and group behavior are the central components of the study of behavior in organizations. The focus of this course is on the managerial relevance of motivation, group processes, leadership and organizational models for successful management. The course employs case studies, exercises, discussions and lectures.
Macroeconomics (2 credit hours)
Macroeconomics seeks to understand and explain phenomena such as inflation, unemployment, interest rates and the balance of payments. This course investigates the causes of macroeconomic fluctuations, their consequences and what role government should play in dealing with resulting problems. Special attention is given to monetary and fiscal policies, including government deficits and the effects of tax rates. Since the macroeconomic situation of most countries is increasingly affected by international currents, these are also closely scrutinized in the course.
Financial Management (3 credit hours)
This course deals with the analysis of short-term working capital requirements. Among the topics covered are cash budgeting procedures, pro forma statements and short-term loan arrangements and asset management. More over, the course introduces the tools of financial risk management (futures, forwards, swaps, options). Through case analysis, it investigates their use in the management of interest rate and foreign exchange risk. The objective of the two courses is to provide a firm understanding of the tools used for financial analysis and corporate decision-making.
Marketing Management (3 credit hours)
This course deals with an integrative analysis of major marketing decisions, including product pricing, advertising, distribution and sales force policies. Marketing starts with finding out what customers want, followed by the creation of market strategies which address the needs of specific target groups better than the competition. The course also introduces students to the analytical, strategic and tactical aspects of managing the marketing mix.
Business Strategy (3 credit hours)
This course is concerned with the roles and tasks of top executives. The perspective is that of an executive charged with directing the total enterprise, from diagnosing the status quo to developing realistic responses to strategic and organizational problems. The course focuses on the means by which a competitive edge can be created and sustained in today’s challenging and complex business environment, while at the same time giving due attention to corporate social responsibility and business ethics.
Operations Management (3 credit hours)
This course deals with planning and controlling techniques as used by manufacturers and service providers in managing their operations. Students gain exposure to the full spectrum of operational procedures and the types of decisions that operations managers are faced with. The course highlights recent developments in actual business operations and provides hands-on experience by means of plant tours, case analyses and research projects.
Principles of Information Systems (2 credit hours)
This case-oriented course focuses on information management systems and data mining tools for managerial use, also exploring their organizational impact, related HR issues and project management aspects in connection with information management systems.
Legal & Social Foundations of Management (2 credit hours)
This course is concerned with the ethical and social implications of managerial decision-making and its impact on a company’s employees, customers, suppliers, distributors, stockholders and creditors. Students are introduced to international law in connection with the opportunities and limitations of cross-border business. Special emphasis is given to the legal and socio-cultural differences between the EU, the U.S., the Middle East, Asia and various other economically significant regions and countries.
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