Study Guide

Objective

Upon completion of the course, students understand the issues associated with a company's production economics. The student is able to
- define the basic concepts of business operations, different types of business concepts in different fields, operational and revenue generation models
- analyse the meaning and purpose of creating and planning new business
- analyse the meaning and purpose of the different functions of existing business
- produce a business plan at least a theoretical level either individually or in a team

Content

- Productivity, growth, profitability, liquidity and financial solidity
- Fundamental business costs
- Investment calculations, budgeting, key ratios
- Forms and sources of financing
- Materials management
- Fundamentals of marketing
- Quality as part of production and general operations

Materials

Uusi-Rauva, Haverila, Kouri & Miettinen 2009 Teollisuustalous, Infacts johtamistekniikka oy
Martinsuo, Mäkinen, Suomala ja Lyly-Yrjänäinen 2016 Teollisuustalous kehittyvässä liiketoiminnassa (1. painos tai uudempi), Edita Publishing Oy

Teaching methods

Teaching is carried out as face-to-face teaching in the classroom. At the end of the course, a supervised exam is organized in the classroom. At the beginning of the course, there is an initial exam, where the students' starting level and learning goals are determined.
Learning in classes takes place as group work with the help of the exercises, material and guidance provided by the teacher. Learning is deepened with lessons and exercises done at home. Case learning is applied as a teaching method

Evaluation scale

1-5

Assessment criteria, satisfactory (1)

The student is able to identify and define the basic concepts of business competence and examine business activities by means of these concepts.

Assessment criteria, good (3)

The student is able to explain processes of business activities and produce examples and plans.

Assessment criteria, excellent (5)

The student is able to assess and analyse by means of concepts what he/she has learned. The student is able to present and apply process management. The student is able to apply the business competence theories he/she has learned in a goal-oriented and realistic way.

Assessment criteria, good (3)

The student is able to identify and define the basic concepts of business competence and examine business activities by means of these concepts

Assessment criteria, excellent (5)

The student is able to explain processes of business activities and produce examples and plans

Assessment criteria, approved/failed

The student is able to assess and analyse by means of concepts what he/she has learned. The student is able to present and apply process management. The student is able to apply the business competence theories he/she has learned in a goal-oriented and realistic way.