Business Strategies

This course evaluated the strategies of three companies within the same industry in three different countries. Based on corporate visits and management interviews, students analyzed specific business strategies, including the intercultural complexities of business and management within the countries. Students were grouped in international teams based in three different industries (Automotive, Information Technology (IT) and Brewery). Students were then required to develop an extensive questionnaire during a plenary session to determine their interviews and visit objectives. After the corporate visits, students completed an evaluation session where outcomes and findings were evaluated and analyzed.

Learning outcomes:

• Designed a structured interview to determine organizational position and future objectives.
• Analyzed similarities and differences of specific corporate strategies and possible cultural challenges.
• Adapted individual communication and working style to complement the international team.
• Presented results and learning outcome in a structured and concise form through oral presentations.

 

Business Simulation

The Business Simulation established a link between business management theory and business management practice. It presents a realistic model of company and thus provides participants with the opportunity to quickly gain the lasting effects of practical experience in a risk-free environment. The simulation is an interactive teaching and learning system based on the principle “Learning business by doing business”. Students were a part of the Board of Directors, which competes with other business within the same industry. Considering the business reports of the company, economic forecasts, mission and business objectives, teams had to find a strategy for the company and make decisions in Sales and Marketing, R&D, Procurement, Production, Human Resources, Investment, Finance and other value drivers.

Learning outcomes:

• Learned how to act in an entrepreneurial, inter-disciplinary way.
• Applied strategie and share-value-oriented management techniques.
• Analyzed interactions between companies and external influence in a complex interrelated environment.
• Formulated the general conditions for commercial success.
• Learned to use different management instruments.
• Defined goals and strategies and accomplished them in various challenging situations.
• Group-decision marking within multinational teams in an efficient and constructive way.

 

Intercultural Management

This course comprised of the introduction of scientific approaches to the models of national culture, e.g. Hofstede, Trompenaars, Maznevski and Schwartz. Based on these theories, students reflected on their own cross-cultural behaviors and that of others through class discussions, assessments and group activities. An analysis of various prejudices was discussed, which often works against successful cross cultural relationships and negotiations.

Learning outcomes:

• Evaluated the links between national and organizational culture.
• Identified the unique cultural patterns in Europe, Latin America, the Middle East and Asia.
• Analyzed the cultural patterns that influence social and business situations.
• Researched the field of foreign cultures to provide knowledge in doing business abroad.
• Gained practical information regarding living abroad and coping with culture shock.
• Learned effective negotiating skills needed in doing business abroad.