BE201 Business Economics is currently undertaken by all Year 1 BSc students studying at the Management Science and Entrepreneurship Group of the Essex Business School. In putting together the course, we assume no prior knowledge of economics. We also recognise that participants in the course have many different interests in economics, and reasons for studying Business Economics. We hope that you are curious about economics, and interested in some economic issues. Maybe you have come across microeconomics in the news through inquiries into take-overs and mergers between companies, or in price wars between supermarkets, or the public interest in the price of mobile phones, or in worries over pollution, or the effects of new minimum wage scheme. In any event studying economics can inform you of highly topical issues. In the autumn term, we aim to introduce microeconomic principles and concepts that help us understand and explain how economic activities happen, and see if anything can be done to improve economic situations for society. In conjunction with key readings from the core textbook and other recommend readings, a selection of real life examples, case studies and exercises will be used to help students raise and explore key issues in business economics. We also aim to explain business economics in such a way that it fits in well with your other subjects.
This module is designed to provide students with a preliminary understanding of international business. First, global business environment and how it impacts corporations and their decision for internationalisation will be introduced and then, several strategies that a company can pursue to enter international markets will be explained. The course continues with several aspects of managing multinational corporations such as marketing, human resource management and global supply chain management.
This module enables students to acquire critical and transferable skills associated with the creation and management of new and entrepreneurial organisation. The course focuses on the development process of new ventures (new small businesses and spin-offs from large firms) and their management, including idea generation, developing business models, networking, marketing, financial, and behavioural aspects in different environments. The module's practical focus combines learning about characteristic operational issues (finance, marketing, human resources and business planning), and practical aspects of creating a new ventures (such as idea generation and developing entrepreneurial business models). This module will help the student to identify the critical functional elements that can support the entrepreneur in his-her consideration of the market for new products, services and the launch of a new venture.
This module is designed to provide students with an advanced understanding of international business and strategy, the content and processes of different international expansion modes. The module begins by explaining 'why' firms internationalise and describing the factors that influence the decision to do so. It describes different forms of international expansion, from equity and non-equity forms of expansion to online and offline forms of expansion. It then explains 'how' firms internationalise according to different theories of the internationalisation process. The remaining lectures are dedicated to discussing how markets for expansion are selected, evaluated and entered.
This module is concerned with strategic innovation management for corporate competitive advantage. It provides students with the knowledge to understand, and the skills to manage, innovation at the operational and strategic levels. Specifically, it integrates the management of market, organizational and technological change to enhance competitiveness of the firm.
The module is structured to cover six broad and interrelated issues:
a) defining innovation management,
b) developing an innovation strategy, and
c) establishing effective external linkages,
d) managing the innovation process,
e) building an innovative organisation, and
f) managing innovation performance.
The module explores innovation and competitive advantage, innovation processes, and capabilities in the context of globalisation. The module will draw on material from the literature on strategic management, entrepreneurship and creativity management, international marketing, and organisational study and human resource management, to provide a basis for a critical understanding of the value of effective innovation management for initiating and sustaining competitive advantage.
The main aim of the module is to enable students to acquire a critical understanding of innovation at the operational and strategic levels in the strategic innovation management context. A second aim is to help students obtain a critical understanding of the contexts, processes, structure and capabilities in managing innovation in a fast changing globalised business environment.
Managerial Economics is defined as the discipline which deals with the application of economic theory to business management. Managerial Economics thus lies on the borderline between economics and business management and serves as a bridge between economics and business management. The prime function of a management executive in a business organization is decision making and forward planning. Decision Making means the process of selecting one action from two or more alternative courses of action whereas forward planning means establishing plans for the future. The question of choice arises because resources are limited and can be employed in alternative uses. The decision making function thus becomes one of making choices or decisions that will provide the most efficient means of attaining a desired end, say, profit maximization. Once decision is made about the particular goal to be achieved, plans as to production, pricing, capital, raw materials, labour, etc., are prepared. In fulfilling the function of decision making in an uncertainty framework, economic theory can be pressed into service with considerable advantage. Economic theory deals with a number of concepts and principles relating, for example, to profit, demand, cost, pricing production, competition, business cycles, national income, etc., which can be used to solve business problems. The course will focus on the development of critical understanding of how economic concepts (profits, demand, cost, pricing production, competition, business cycles) can be used to solve business problems. The focus of the module will be theoretical and it will be concerned with enabling students to examine the different economic concepts which can be used to analyse business situations.
BE304-4-SP-CO: Introduction to Finance 2023/24 (Beaconhouse International College 2023/24 Reference)
This module introduces the students to the challenges of organisation and leadership that are shaped by ongoing changes at work and in today's society at large. The purpose is to examine past and new approaches and draw relevant connections between organisational theory and practice, where issues of organisation, collaboration and leadership are given particular attention. The module will emphasise the principal role of people and human behaviour alongside the study of management systems and models. The module will address organisational processes by examining the conditions for developing sustainable organisational strategies and viable leadership approaches in both the private and the public sectors. Finally, the module will examine critically organisation and cooperation as socially accomplished activities of individuals, teams, and communities as well as projects in emerging contexts.
This module will help the student to acquire key skills and competencies to carry out management research or prepare a business plan, suitable for the completion of a Masters level programme. The module will address philosophical issues underlying management and business research and explain how to select research strategies and designs. It will offer a comprehensive view of methods of data collection and analysis to support the quality and value of research outcomes. In addition, and especially, for those opting for the business plan route, the module will provide a platform for evaluating the quality of relevant, market-oriented research designs, methods for business planning, researching the task environment and set-up of new ventures.
Aims and Objectives
The aim of the module is to equip students with the knowledge, skills, and competencies to carry out either a sound academic research project (dissertation) or prepare a practical and comprehensive business plan supported by critical understanding of the use value of research methods and techniques. Through this process the student will develop a sense of involvement with the research community that supports academic research and reflective practice.
Learning Outcomes
Students who successfully complete the Research Methods module will be able to:
- Understand different methods of investigation, data collection, and statistical analysis
- Identify appropriate secondary sources of information, and access several publicly available databases
- Critique the research methodology of published papers
- Select appropriate methods for the design, collection, and analysis of statistical data
- Apply a variety of statistical tests, and interpret the results of those tests
- Use a computer package (e.g. SPSS) for the analysis of statistical data
- Write a research proposal and successfully complete a Masters level dissertation or a business/marketing plan
This module will help the student to acquire key skills and competencies to carry out management research or prepare a business plan, suitable for the completion of a Masters level programme. The module will address philosophical issues underlying management and business research and explain how to select research strategies and designs. It will offer a comprehensive view of methods of data collection and analysis to support the quality and value of research outcomes. In addition, and especially, for those opting for the business plan route, the module will provide a platform for evaluating the quality of relevant, market-oriented research designs, methods for business planning, researching the task environment and set-up of new ventures.
Aims and Objectives
The aim of the module is to equip students with the knowledge, skills, and competencies to carry out either a sound academic research project (dissertation) or prepare a practical and comprehensive business plan supported by critical understanding of the use value of research methods and techniques. Through this process the student will develop a sense of involvement with the research community that supports academic research and reflective practice.
Learning Outcomes
Students who successfully complete the Research Methods module will be able to:
- Understand different methods of investigation, data collection, and statistical analysis
- Identify appropriate secondary sources of information, and access several publicly available databases
- Critique the research methodology of published papers
- Select appropriate methods for the design, collection, and analysis of statistical data
- Apply a variety of statistical tests, and interpret the results of those tests
- Use a computer package (e.g. SPSS) for the analysis of statistical data
- Write a research proposal and successfully complete a Masters level dissertation or a business/marketing plan
The aim of this module is to develop students’ skills for successfully conducting independent research practice using a range of research methodologies for data collection and analysis. More specifically, the module is designed to develop an essential understanding and ability in planning, carrying out and managing independent and original research in the area of business management, and improve skills in clearly communicating a research output through a dissertation project.
This module provides a broad overview of economics suitable as an introduction to the subject for all undergraduates. It is designed to develop students' knowledge of economic ideas in the context of contemporary issues using the tools of elementary economic analysis. Students are shown how to apply economic reasoning to a range of problems relevant for understanding the mechanisms and institutions which allocate and distribute resources. In the Autumn Term theories of individual (micro) behaviour are introduced, including consumer decision-making as well firms' conduct in different market structures. In the Spring Term the focus shifts to the study of aggregate (macro) level economic activity: inflation, unemployment, business cycles and economic growth. The national economy is analysed in a global environment that includes international trade, monetary and financial systems. The effects of government policy and the choice of those policies is analysed throughout the module.
Upon completion of this course, students will be able to apply elementary economic principles to the analysis of problems in microeconomics and macroeconomics. They will have learned how to apply marginal analysis to demonstrate knowledge of economic decision making and the relevance of opportunity costs. In completing the assignments and tests, students will demonstrate their problem-solving analytical and deductive skills.
Employability skills include: Academic skills: literacy, numeracy, communication; Professional working skills: adaptability; flexibility, decision-making; External awareness: economic and business environment and policy; Personal development planning: Time management, self management, reflection and evaluation.