|The overall purpose of this course is to give students a theoretical toolbox that will help them understand firm existence and decision making (including large multinational firms) in the domains of actions and strategies typically addressed by Strategic Management field. The theories and theoretical frameworks that will be discussed in class are recent developments in Management and Economics of Organization.|
After completing this course the students should be able to:
- Explain the limitations of Standard Economic Theory (Microeconomics) in explaining firm existence and decision making.
- Explain recent theoretical approaches in Management and Economics that better explain the questions of firm existence and decision making process as well as limitations of the SET each of these theories addresses.
- Compare and explain the differences among various theoretical frameworks discussed in class in terms of a) the questions each theory asks and limitations it addresses compared to Standard economic theory; b) assumptions each theory makes; and c) predictions each theory makes.
- Analyze (by the team of students) a real firm, or real business situation, and firm¿s decisions using the theories discussed.
SpecificsThe course is divided into two parts. The first part is based on lectures during which students will learn theory. The lectures are aimed at explanation of the readings, clarification and detailed explanation of the most complex theoretical concepts, answering students¿ questions, providing examples that illustrate the theory.The second part of the course is based on tutorials. The overall goal of the tutorials is to teach students to apply the learnt theories to the real firms/business situations. The tutorials¿ part of the course consists of 3 different types of tutorials: in-class exercises, home assignments, and student presentations.
Exam and grading
Mid-term exam (0.35) + final exam (0.35) + presentation and/or assignment (0.3).,
The resit is a 100% written exam.
Please note, that all IBA courses are only open to IBA students. It is not possible to select this course as an elective for other programs.
|The course adopts an economic perspective to answer the questions of why organizations, including multinational companies, have been created and what they look like, for example in terms of organizational structure.|
The topics covered in class include the following theoretical approaches: Information Theory, Agency Theory, Theory of Cost, Behavioral Theory of the Firm, Evolutionary Economics, Organizational Learning Theory, Transaction Cost Economics.
These theories are then applied to the field of Strategic Management, with a specific focus on international management. The course will discuss why firms (including multinational companies) exist, how they compete, how they formulate a competitive strategy, how they formulate a corporate strategy, and how they are governed, managed and organized.
Type of instructionslectures and interactive lectures
Type of examsMid-term exam (0.35) + final exam (0.35) + presentation and/or assignment (0.3)
- Furlotti, Mulotte, Golovko (eds.), Foundations of Strategic Management, Pearson Education, 2013, ISBN 9781783654215.