Economics and Management
A.Y. 2024/2025
Learning objectives
The aim of this course is to offer students of industrial chemistry with the opportunity to learn how to surf firms' strategy. The objective is not turn them into experts, but provide them with a basic vocabulary to deal with those involved in the management of their firms.
Expected learning outcomes
At the end of the course, students are expected to be competent on:
1. The analysis of the competitive context;
2. The analysis of firms' resources and competencies;
3. The analysis of the value chain;
4. Understanding the main organizational forms and management systems
5. The analysis of competitive advantage;
6. Basic elements of an innovation strategy;
7. Drawing a green strategy;
8. Understanding the information contained in the four basic financial statements.
1. The analysis of the competitive context;
2. The analysis of firms' resources and competencies;
3. The analysis of the value chain;
4. Understanding the main organizational forms and management systems
5. The analysis of competitive advantage;
6. Basic elements of an innovation strategy;
7. Drawing a green strategy;
8. Understanding the information contained in the four basic financial statements.
Lesson period: First semester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course can be attended as a single course.
Course syllabus and organization
Single session
Lesson period
First semester
Course syllabus
The first lesson will be introductory. The icebreaker will be the discussion of a financial statement presented first in full form and then in a summarized (reclassified) form. Even if we do not yet have any basic knowledge on the topic, we will analyse the statements together to obtain food for thought using common critical sense. At the end of the course we will repeat the exercise on a new balance sheet to appreciate the effectiveness of the analysis we have acquired.
The following lessons will be structured according to two main blocks:
I) The first will be an introduction to the concepts of market and industry. We will cover some critical topics that will help us tackle the second part of the course. In particular we will focus on:
- Concept of supply and demand;
- Market equilibrium;
- The cost structure;
- Profit maximization;
- Short and long term choices;
- The opportunity cost;
- Economies and diseconomies of scale;
- Price elasticity and volatility;
- Market power;
- Price discrimination;
II) Having acquired the necessary basic notions at this point, in the second part of the course we will try to fully understand the concept of "enterprise", a naturally central element of Business Administration. Our journey will continue with a very simple question: who is the manager and what does he/she do? From this starting point, we will discuss and explore together:
- The concept of risk;
- Operational and strategic decisions;
- The vision: values, beliefs and purpose;
- The mission;
- The corporate strategy;
- The attractiveness of an industry;
- The business strategy: cost or differentiation;
- The corporate strategy: market inefficiencies and synergies;
- Diversification;
- The income statement;
- The balance sheet;
- From budget to strategy;
- Return on Equity;
- Margin on sales, capital turnover and financial leverage;
- (Forms of enterprise: SAS, SNC, SRL, SPA;)
- Brand: awareness and image;
- Critical success factors;
- Marketing analysis: company, customers, competitors;
- Marketing strategy;
- 4Ps: product, price, place, promotion;
As mentioned previously, at the end of the course we will carry out another exercise of analysis and understanding of a company through the study of its reclassified financial statements.
The following lessons will be structured according to two main blocks:
I) The first will be an introduction to the concepts of market and industry. We will cover some critical topics that will help us tackle the second part of the course. In particular we will focus on:
- Concept of supply and demand;
- Market equilibrium;
- The cost structure;
- Profit maximization;
- Short and long term choices;
- The opportunity cost;
- Economies and diseconomies of scale;
- Price elasticity and volatility;
- Market power;
- Price discrimination;
II) Having acquired the necessary basic notions at this point, in the second part of the course we will try to fully understand the concept of "enterprise", a naturally central element of Business Administration. Our journey will continue with a very simple question: who is the manager and what does he/she do? From this starting point, we will discuss and explore together:
- The concept of risk;
- Operational and strategic decisions;
- The vision: values, beliefs and purpose;
- The mission;
- The corporate strategy;
- The attractiveness of an industry;
- The business strategy: cost or differentiation;
- The corporate strategy: market inefficiencies and synergies;
- Diversification;
- The income statement;
- The balance sheet;
- From budget to strategy;
- Return on Equity;
- Margin on sales, capital turnover and financial leverage;
- (Forms of enterprise: SAS, SNC, SRL, SPA;)
- Brand: awareness and image;
- Critical success factors;
- Marketing analysis: company, customers, competitors;
- Marketing strategy;
- 4Ps: product, price, place, promotion;
As mentioned previously, at the end of the course we will carry out another exercise of analysis and understanding of a company through the study of its reclassified financial statements.
Prerequisites for admission
Since this is an introductory course to Business Administration, no particular prerequisites or knowledge are required.
Teaching methods
The teaching will not be frontal but interactive; students and teacher will work together through class discussions to achieve the learning objectives of each lesson. The teaching will not be notional but conceptual. Each topic will be covered starting from real life examples based on the experience of the teacher and students.
Teaching Resources
- For attending students, the only teaching materials necessary for the preparation of the exam will be the slides and the notes.
- Non-attending students, please get in touch to obtain information on how to prepare for the exam.
- Non-attending students, please get in touch to obtain information on how to prepare for the exam.
Assessment methods and Criteria
For attending students, the final exam will be a written test with both open (about 3-4 questions) and closed (about 25) questions.
In addition, attending students will have to carry out group work (7 points) and deliver an individual final paper (7 points - 2,000 words +/- 10% ).
For non-attending students, the exam will be oral (30 points).
In addition, attending students will have to carry out group work (7 points) and deliver an individual final paper (7 points - 2,000 words +/- 10% ).
For non-attending students, the exam will be oral (30 points).
Educational website(s)
Professor(s)