Study Guide

Objectives

The course develops the basic skills of understanding the business of a company.

After completing the course, students will:
• be able to identify the key concepts and theories of production economics and business and be able to apply them to practical business in the bioproducts industry
• be able to interpret the company's operations and solutions based on the company's strategies and profitability
• be able to analyse the company's cost structure and simple pricing, budgeting and cost calculations and know the key profitability indicators.
• can compare the profitability of different types of investment.
• can determine the content and relevance of the company's quality and performance management systems to its operations.
• can identify the stages in the supply network.

Content

Business forms. Business strategies and success factors. Production methods according to different goods and services. Basic accounting concepts. Business costs, productivity and profitability. Budgeting. Pricing and costing calculations. Investments and investment calculations. Quality concepts. Key quality theories, quality management systems and quality standards. Use of quality tools for quality management and improvement. SAP, TQM, Six Sigma, PDCA

Assessment criteria, satisfactory (1-2)

Students can identify and define the main theories of production economics and business and can name the basic concepts related to it. They will be able to apply them to practical business situations in the bioproducts industry.

Assessment criteria, good (3-4)

Students can apply the most important theories and basic concepts of production economics and business. They can compare the activities and solutions of companies and examine them in practical business in the bioproducts industry. Students will be able to search for and use information related to the bioproducts industry.

Assessment criteria, excellent (5)

The student is able to understand and use the most important theories, basic concepts and entities of production economics and business in a versatile way and to understand their interrelationships in bioproduct industries. Students will be able to apply and integrate information and analyse the present and future of the bioproducts industry.