Ο σκοπός του προγράμματος είναι να παράσχει στους σπουδαστές γνώσεις, δεξιότητες και αντιλήψεις που θα τους βοηθήσουν να ενασκήσουν την καριέρα τους οπουδήποτε στον κόσμο σε συναφείς τομείς με τον κλάδο της Διοίκησης Επιχειρήσεων και να διασφαλίσει ότι θα έχουν την κατάρτιση για την επίτευξη των στόχων τους ώστε να μπορούν να γίνουν ηγέτες στον τομέα τους. Με τη συμπλήρωση των σπουδών τους οι φοιτητές εξοικειώνονται σ’ ένα ευρύ φάσμα κλάδων και λειτουργιών της Διοίκησης Επιχειρήσεων.

Οι φοιτητές θα αναπτύξουν επικοινωνιακές δεξιότητες που θα διευκολύνουν την αντίληψη, ανάλυση και διάγνωση επιχειρηματικών καταστάσεων, ενώ παράλληλα θα αποκτήσουν ικανότητες για την πρόβλεψη μελλοντικών εξελίξεων σε επιχειρηματικούς οργανισμούς και βαθιά πρακτική γνώση και εμπειρία στις εφαρμογές της πληροφορικής των επιχειρήσεων. Τέλος, οι φοιτητές θα εξοικειωθούν με το επιχειρηματικό περιβάλλον και θα είναι έτοιμοι να αντιμετωπίσουν πραγματικές επιχειρηματικές καταστάσεις σε Ευρωπαϊκό και Παγκόσμιο επίπεδο.

ΙΚΑΝΟΤΗΤΕΣ ΚΑΙ ΔΕΞΙΟΤΗΤΕΣ ΠΟΥ ΘΑ ΑΠΟΚΤΗΘΟΥΝ

  • Να εισαγάγει και να εξοικειώσει τους σπουδαστές σ’ ένα ευρύ φάσμα κλάδων και λειτουργιών της Διοίκησης Επιχειρήσεων.
  • Να βοηθήσει τους σπουδαστές να αναπτύξουν επικοινωνιακές δεξιότητες που θα διευκολύνουν την αντίληψη, ανάλυση και διάγνωση επιχειρηματικών καταστάσεων και να ενισχύσει την απαραίτητη ικανότητα στην αντιμετώπισή τους.
  • Να παράσχει στους σπουδαστές τα μέσα για την κατανόηση και πρόβλεψη μελλοντικών εξελίξεων των επιχειρηματικών οργανισμών.
  • Να δώσει στους φοιτητές τη βαθιά πρακτική γνώση και εμπειρία στις εφαρμογές της πληροφορικής των επιχειρήσεων.
  • Να εισαγάγει τους σπουδαστές στις παγκόσμιες επιχειρηματικές λειτουργίες.

Να εξοικειώσει τους φοιτητές με το επιχειρηματικό περιβάλλον και να τους προετοιμάσει να αντιμετωπίσουν πραγματικές επιχειρηματικές καταστάσεις.

Οι απόφοιτοι του προγράμματος μπορούν να εργοδοτηθούν:

  • στο Δημόσιο, (ως λειτουργοί σε διάφορα σχετιζόμενα με το αντικείμενό τους Υπουργεία, όπως Οικονομικών, Εμπορίου), και
  • στον Ιδιωτικό τομέα (ως στελέχη επιχειρήσεων, σε λογιστικά τμήματα, ή τμήματα μάρκετινγκ και διαφήμισης, τμήματα οικονομικών και σε τραπεζικούς και άλλους χρηματοοικονομικούς οργανισμούς),
  • να αυτοεργοδοτηθούν δημιουργώντας δική τους επιχείρηση, και
  • μπορούν επίσης να συνεχίσουν τις σπουδές τους για απόκτηση μεταπτυχιακών τίτλων σπουδών, είτε στη Διοίκηση Επιχειρήσεων είτε σε άλλους συναφείς τομείς

Κατηγορία Μαθημάτων ECTS
Υποχρεωτικά 180
Επιλογής 60
TOTAL 240

Υποχρεωτικά

Ο φοιτητής πρέπει να συμπληρώσει επιτυχώς 180 ECTS, από την ακόλουθη λίστα μαθημάτων:

No. Κωδικός Όνομα ECTS
1 DLABCO152-1 Επιχειρησιακή Επικοινωνία 10
2 DLABSA151-1 Εισαγωγή στη Λογιστική 10
3 DLABSE151-1 Μικροοικονομική Ανάλυση 10
4 DLABSM152-1 Αρχές Μάρκετινγκ 10
5 DLACSC152-1 Πακέτα Εφαρμογών και Πληροφοριακά Συστήματα Διοίκησης 10
6 DLAMAT151-1 Μαθηματικά των Επιχειρήσεων 10
7 DLABSE253-1 Μακροοικονομική Ανάλυση 10
8 DLABSO253-1 Οργάνωση των Επιχειρήσεων 10
9 DLAFIN253-1 Χρηματοοικονομική 10
10 DLABSM254-1 Μάρκετινγκ Υπηρεσιών και Έρευνα Μάρκετινγκ 10
11 DLABSA254-1 Κοστολόγηση και Διοικητική Λογιστική 10
12 DLABSM355-1 Στρατηγικό και Επικοινωνιακό Μάρκετινγκ 10
13 DLAMAT355-1 Στατιστική για τις Επιχειρήσεις 10
14 DLABSO457-1 Διοικητική Επιστήμη 10
15 DLABRM356-1 Μεθοδολογία της ‘Έρευνας 10
16 DLABSL254-1 Δίκαιο των Επιχειρήσεων 10
17 DLABSP458-1 Πτυχιακή Εργασία 10
18 DLABSO356-1 Διαχείριση Ανθρώπινων Πόρων και Επιχειρηματική Πολιτική 10

Επιλογής

Ο φοιτητής πρέπει να συμπληρώσει επιτυχώς 60 ECTS, από την ακόλουθη λίστα μαθημάτων:

No. Κωδικός Όνομα ECTS
1 DLABSA255-1 Χρηματοοικονομική Λογιστική Μέσου Επιπέδου 10
2 DLABSA256-1 Κοστολόγηση και Διοικητική Λογιστική 10
3 DLABSA357-1 Προχωρημένα Θέματα Λογιστικές Θεωρίας και Πρακτικής 10
4 DLABSA358-1 Προχωρημένη Διοικητική Λογιστική 10
5 DLABSA457-1 Θεωρία Και Πρακτική Ελεγκτικής 10
6 DLABSA458-1 Φορολογία 10
7 DLABSE355-1 Οικονομική Θεωρία του Περιβάλλοντος και της Ανάπτυξης 10
8 DLAFIN356-1 Χρηματοοικονομική των Επιχειρήσεων 10
9 DLABSO355-1 Οργανωσιακή Συμπεριφορά 10
10 DLABSO458-1 Επιχειρησιακή Ηθική 10
11 DLABSM457-1 Προχωρημένα Θέματα Μάρκετινγκ 10
12 DLABSM356-1 Συμπεριφορά Καταναλωτή και Διοίκηση Πωλήσεων 10

Η Διάρκεια Σπουδών είναι 8 ακαδηµαϊκά εξάµηνα για πλήρη παρακολούθηση και 16 ακαδημαϊκά εξάμηνα για μερική παρακολούθηση.

Course Contents

In particular, the course covers the following:

development of student’s writing skills with emphasis given on writing

essays (argumentative essays -for and against, opinion)

formal letters (advice, complaint, application)

curriculum vitae

project writing

development of students’ speaking and listening skills through class discussions, oral presentation of students’ work in class and other communicative drills

extensive business writing including memoranda and agendas

business terminology

vocabulary enrichment achieved with students’ active participation in discussions on topics of common interest and the comprehension of passages from various sources

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. develop their writing and oral skills at a mature level, emphasising the literary effects of language
  2. compose various forms of business writing and well-developed essays
  3. apply acquired knowledge to write effectively for a variety of forms
  4. communicate confidently and effectively in spoken language in a wide range of situations
  5. use the vocabulary needed for advanced level communication
  6. develop the ability to read and view for information and respond critically to social, cultural and emotional values in texts
  7. analyse and evaluate advanced and authentic texts such as extracts, articles, and justify their opinion with accuracy and precision
  8. develop and establish opinions, synthesise texts and ideas, and express authentic thought with clarity
  9. identify and apply basic business terms essential in their academic and professional environment

Course Contents

In particular the course covers the following:

advanced argumentative essays with emphasis given on

outlining problems and offering solutions

giving an opinion

presenting both sides of an argument

report writing (assessment, proposal & informative)

note-taking

summary writing

news articles and press releases

effective oral presentation techniques

news letters

business terminology essential for effective business communication

vocabulary enrichment achieved with students’ active participation in class debates on topics of common interest and the comprehension of passages from various sources

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. show proficiency and fluency in the oral and written word
  2. practise writing as a process of motivated inquiry, engaging other writers’ ideas through the use of quotations, paraphrase, allusions and summary
  3. recognise how form and structure shape a text’s meaning and appreciate how genre generates expectations
  4. deliver an effective oral presentation in an academic environment
  5. interpret and summarise advanced reading texts
  6. synthesize advanced written word and present it either orally or in writing in a logical and fluent manner
  7. identify and apply the terminology used in the professional business world

Course Contents

Accounting equation: Understanding and applying the basic accounting equation.

Double entry bookkeeping: as applied to: assets, liabilities, capital, revenue, purchases and Expenses. Be able to balance off accounts.

Returns and carriage: Understanding and applying the accounting treatment of returns and carriage.

The ledger and its possible sub-divisions: Understanding the distinction between personal, real and nominal accounts.

Discounts: Applying the accounting treatment of discounts.

Capital and revenue expenditure: Understanding the distinction between capital and revenue expenditure.

Trial balance: The extraction of the Trial Balance from the ledger accounts.

Final Accounts: Introduction to Final accounts.

Adjustments to the final accounts:  These include adjustments for accruals, depreciation, prepayments, bad debts and the provision for bad debts.

Preparing final accounts: Preparing the Trading and Profit and Loss Account and Balance Sheet after dealing with adjustments.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify the basic principles underlying the recording of business transactions and have the ability to prepare accounts for sole traders.
  2. Apply the concept of double entry bookkeeping and also be in a position to prepare a Trading and a Profit and Loss Account for a sole trader-involving end of year adjustments.
  3. Understand the notion of profit and its significance in the successful continuation of a business and calculate its value
  4. Examine the concept of profit in accounting to that of profit and competitiveness in other business disciplines.
  5. Use the understanding of accounting to evaluate the performance of companies.

Course Contents

orrection of errors and journals: Understanding and applying journal entries to correct errors in the accounting records.

Control accounts: Preparing the sales ledger and purchase ledger control accounts.

Incomplete records: Preparing final accounts from incomplete records.

Non-profit organisations: Preparing final accounts for non-profit organisations.

Manufacturing accounts: Understanding their purpose and constructing manufacturing accounts.

Introduction to ratio analysis: Examination of key indicators for the financial performance and financial position of a firm.

Introduction to stock valuation: Identify and examine methods for carrying out stock valuation.

Introduction to partnership accounts:  These include: the legal framework, appropriation accounts and partners’ personal accounts.

Introduction to limited company accounts: Compare the differences between sole trader and limited company accounts.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Prepare accounts for manufacturing businesses and partnerships. Furthermore to be able to apply the principles of double entry and prepare accounts from incomplete records
  2. Evaluate the basic financial accounting concepts and prepare final accounts for all types of business.
  3. Formulate an opinion at more advanced accounting subjects when analysis will become a key aspect.
  4. Compare the differences between how companies perform in terms of their accounting profits, with the differences between how companies perform in terms of other measures of performance
  5. Consider the accuracy of accounts as means of measuring how companies perform over the business cycle.

Course Contents

Introduction to Economics

Economic agents and economic problems. Inputs and outputs. The production possibility frontier.

The law of increasing marginal opportunity cost.

Economic Systems

The role of the market in the solution of the three economic problems. Resource allocation and the rational for government intervention. Market Outcomes and Market Failures vs. Government Failures

Market Fundamentals

The demand for goods. The demand schedule and the demand curve. Factors, determining demand. Shifts in demand.

The supply of goods. The supply schedule and the supply curve. Factors, determining supply. Shifts in supply.

The market equilibrium. Effects of a shift in supply or demand.

Quantifying Market Responses: Elasticity .

Price elasticity of demand. Elasticity and revenue.  Income elasticity of demand. Cross-price elasticity of demand. Price elasticity of supply.

Applications of Supply and Demand and Price Elasticity

The economics of agriculture. The impact of a tax on price and quantity. Price controls. Price floors and price ceilings.

Demand and Consumer Behaviour

Choice and utility. Consumer equilibrium. The dynamics of consumer equilibrium: income effect and substitution effect. Deriving   the demand curve. Consumer surplus.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify economic problems and economic decision makers.
  2. Apply graphical analysis to problem solving
  3. Examine the role of the market in the solution of the three economic problems
  4. Define and analyze market equilibrium and it dynamics.
  5. Quantify market responses of buyers and sellers.
  6. Identify and describe the applications of supply and demand
  7. Analyze consumer decision making and assess the importance of consumer surplus

Course Contents

Introduction to macroeconomics:

Objectives of macroeconomic analysis. Main macroeconomic variables: output, employment, price level. Employment vs. unemployment. Aggregate supply and aggregate demand

Measuring macroeconomic activity:

Identifying GDP: final goods vs. intermediate goods; value added. Three approaches to measuring GDP. The expenditure approach. Economic decision makers and their spending. The Income approach. Primary income vs. final income. Factor payments vs. transfer payments. Income approach vs. expenditure approach. NDP and domestic income. Private income and disposable income. GDP deflator: real vs. nominal GDP. GDP shortcomings

Aggregate expenditures:

Consumption spending: consumption function and consumption curve. Factors, determining the slope of the consumption curve and factors, determining its position. The savings function. Gross private investment demand – definition, components and determinants. Government spending. The import’s function.

The dynamics of macroeconomic equilibrium:

Macroeconomic equilibrium: AE = Y.  Planned vs. actual spending and disequilibrium. The role of inventories. Injections and leakages. The equilibrium condition: Injections = Leakages.  The simple multiplier. The complete multiplier and its constraints. Macroeconomic fluctuations and the business cycle.

Fiscal policy:

Definition and typology.  Goals and instruments of fiscal policy. The government budget. Deficits and surpluses. The demand side fiscal policy: determinants and effectiveness. The budget multiplier. Empirical evidence on the effectiveness of fiscal policy.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify the key concepts of macroeconomics, the objectives and instruments of macroeconomic analysis.
  2. Analyze outcomes of economic activity: Gross Domestic Product, real and nominal GDP, price indexes and employment and unemployment.
  3. Compare and contrast different approaches to measuring GDP
  4. Identify and quantify aggregate expenditures; analyze their determinants and apply them in problem solving
  5. Integrate concepts of macroeconomic equilibrium and appraise its dynamics.
  6. Derive the simple and the complete multiplier and interpret its constraints.
  7. Evaluate business fluctuations and apply the theory of business cycle to the analysis of the current economic slowdown.
  8. Define and categorize the types of fiscal policy and debate their controversies

Course Contents

Producer Decision Making

Economic analysis of costs and profit

Long run vs. short run decisions

Quantifying costs and revenues

Profit maximization/loss minimization decision. Graphical and functional analysis

Analysis of perfectly competitive markets

Assessment of the determinants of industry’s structure

Graphical and functional analysis of price-taking behaviour

Critical analysis of performance of the perfectly competitive markets

Decision making of the pure monopoly

Identification and analysis of sources of market imperfection; natural vs. institutional monopoly

Structural conditions for the pure monopoly

Profit maximization under the pure monopoly and performance of the pure monopoly

Comparative analysis of perfect competition and pure monopoly

Key concepts of price discrimination

Market power and market rivalry

Examination of monopolistic competition: structure, conduct, performance

Appraisal of basic types of oligopoly and pricing

Critical assessment of oligopoly; the Austrian approach to the analysis of the big firm

Factor markets

Determinants of profit maximization in the production factor markets

The labor market and wage differentials; key concepts of discrimination

Capital and interest

The land market variables

General market equilibrium and microeconomic policy

Partial vs. general market equilibrium

Definition and classification of microeconomic policies

Empirical evidence on the effectiveness of microeconomic policies

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify the goals of the firm and basic determinants of producer decision-making.
  2. Examine the dynamics and structure of short run and long run costs
  3. Analyze the determinants of industrial organization
  4. Compare and contrast firm’s conduct and performance under different market structures.
  5. Evaluate the determinants of factor income.
  6. Interpret empirical evidence and critically assess the effectiveness of microeconomic policies.

Course Contents

Money and the functions of money:

The nature of money; the evolution of money; the forms of money; the functions of money. Liquidity and money aggregates; a basic understanding of money supply

The demand for money:

Definition. Motives for money demand: transactionary motive, precautionary motive, speculative motive (liquidity preference). The real vs. the nominal interest rate. The money demand curve. Factors, affecting money demand.

Banking and the supply of money:

Modern frictional-reserve banking. The process of deposit creation and the deposit multiplier. The balance sheet of the commercial bank.

Central Banking and monetary policy:

The role of the central bank. The balance sheet of the central bank. Monetary policy: goals and instruments. Open market operations; discount rate policy; the minimum reserves requirement. Effectiveness of the instruments. Monetary policy in the AD-AS framework. Monetary effects in the long run. From aggregate demand to aggregate supply.

The foundations of aggregate supply:

Short run vs. long run in macroeconomics. Deriving the short run aggregate supply curve. The segments of the SRAS curve. Determinants of aggregate supply in the short run. The long run aggregate supply curve – slope and determinants.

Inflation and unemployment:

Unemployment: nature, forms and measurement. Inflation – sources, forms and measurement. The trade-off of inflation and unemployment – the Phillips’ curve. The short run Phillips’ curve and the SRAS curve. The long run Phillips’ curve and the LRAS curve. The natural rate of unemployment and the potential GDP again.

Economic growth:

Definition. Conditions, factors and measurement of economic growth. Theories of growth. Models of growth and approaches to economic development. Alternative models of growth in developing countries.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Understand the nature of money and its functions
  2. Distinguish money aggregates and understand factors, determining money supply. Analyze factors, affecting money demand and the equilibrium in the money market
  3. Indicate the tools used by the Central Bank to influence the money supply and interest rates
  4. Construct the aggregate supply curve and compare and contrast short run and long run macroeconomic equilibrium
  5. Distinguish sources and factors of economic growth and analyze indicators of economic growth.

Course Contents

Introduction to history and institutions

History of European Integration

Basic facts, law, institutions and the budget

Decision making

The economics of integration: tools and concepts

Introduction to essential microeconomic tools and preferential liberalisation

Market size and scale effects

Growth effects and factor market integration

Economic integration, labour markets and migration

Introduction to essential macroeconomic tools

EU Micro policies

The Common Agricultural Policy

Location effects, economic geography and regional policy

EU competition policy and state aid policy

EU trade policy

EU monetary and fiscal policies

The European Monetary System

The European monetary union

Fiscal policy and the Stability Pact

The financial markets and the euro

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Explain how European integration came about and analyse the economic and political logic that led to the creation of the Union.
  2. Identify how micro and macro economic tools can help understanding the logic of integration.
  3. Review the main EU policies and their effects on the economy and society.
  4. Analyse the monetary and fiscal aspects of the European integration process.

Course Contents

The Legal System of Cyprus ; Definition of Law. Distinguishing between types of law. Considering the sources of law in Cyprus, namely the European Law, the Constitution, Case Law, Common Law & Equity. Meaning and application of the doctrine of precedent and the doctrine of necessity. Court structure, hierarchy and jurisdiction. EU institutions. Examination of sources of EU law (regulations, directives etc). Considering the notions of direct effect and direct applicability Meaning of human rights and their protection in Cyprus.

Analysis/Introduction to Contract Law – Formation of Contracts I: Contract law definitions and Principles. Examination of the elements that are required for a legally binding contract to exist and analysis of the main elements: offer, acceptance, consideration, intention. Types of Contracts. Distinguishing offers from invitations to treat. Explanation of the doctrine of Promissory Estoppel and Privity of Contract.

Vitiating Factors of Contract and Terms – Formation of Contract II: Distinguishing between terms and representations. Classification of contractual terms (conditions, warranties etc). Meaning and effect of breach of contract. Remedies and rules for awarding damages.

The Law of Torts: The effect of tort law as part of the law of obligation. Distinction between liabilities and nature of tort and contract. Types of torts, namely the tort of negligence.

Introduction to Company Law: The effect of separate legal personality, distinguishing between different types of companies (private/public company and between companies limited by shares/by guarantee) and from other forms of businesses, such as partnerships.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Acquire knowledge of the foundations of business law and how these operate within context of business.
  2. Explain the main sources of law of Cyprus including the application of EU Law and UK Law, the structure and jurisdiction of the Courts and the application of legal doctrines.
  3. Analyse the main elements of a legally binding contract, appreciate the key role of contract terms in commercial transactions, understand the effects of breaching a contract, the rules in relation to recovering damages and the remedies available to the innocent party.
  4. Understand the difference between law of torts and law of contracts, the different types of torts including the tort of negligence.
  5. Understand the structure and differences between various entities (companies and partnerships), advise and compare in terms of liability.
  6. Analyse the legal liability of parties in business transactions and to demonstrate the capacity for legal analysis, research and problem solving skills within the context of Business Law.
  7. Develop a critical understanding of the law so as to be able to apply the legal principles (and case law) to various practical situations and to produce written advice.

Course Contents

T he Law of Contracts: Review of the elements that are required for a legally binding contract. Meaning and effect of breach of contract (measure of damages, remoteness of damage & equitable remedies). Effect and application of exclusion clauses. Analysis of Sale of Goods Act.

The Law of Negligence: Analysis of the notion of duty of care and breach of that duty, as well as remoteness of damage caused due to negligence. Defenses to an action of Negligence.

The Law of Agency: Distinctive features of commercial agency (actual and apparent authority), creation of agency relationship (express, implication, ratification, estoppel etc). Agent’s duties and Liability.

Company law and Partnership Law: Structure, formation and management. Incorporation of a company, analysis of the constitutional documents of a company (Memorandum and Articles of Association). Analysis of issues such as Ultra Vires and pre-incorporation contracts. Directors’ role and duties (namely fiduciary duties). Meetings and resolutions of the company. Different types of partners and partnerships.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Acquire knowledge of the foundations of business law and how these operate within context of business.
  2. Define and analyze of contractual liability of parties, factors/clauses that affect the validity of contract (rules in relation to exclusion clauses) and advise in terms of damages (remoteness of damage, measure of damages, equitable remedies).
  3. Analyze the main elements of negligence, notions such as duty of care, breach and damage and advise in terms of defences to an action of negligence.
  4. Identify the distinctive features of commercial agency (concepts such as ratification, agency by holding out/estoppel). Understand the structure and differences between various entities (companies and partnerships) and compare in terms of liability, management and formation.
  5. Assess business issues that may arise such as ultra vires transactions and pre-incorporation contracts and advise whether they invalidate business transactions. Analyse the role of directors and their duties towards the company. Distinguish the types of company meetings and resolutions.
  6. Analyze the legal liability of parties in business transactions and to demonstrate the capacity for legal analysis, research and problem solving skills within the context of Business Law.
  7. Develop a critical understanding of the law so as to be able to apply the legal principles (and case law) to various practical situations and to produce written advice.

Course Contents

Marketing in a changing world: creating customer value and satisfaction

What is marketing?

Understanding the marketplace and consumer needs

Marketing orientations towards designing a customer-driven marketing strategy

Building customer relationships

Capturing value form customers

The new marketing Landscape

Overview: Strategic marketing planning and marketing process

Company wide Strategic Planning: Defining Marketing’s Role

Planning Marketing: Partnering to Build Consumer Relationships

Marketing Strategy and the Marketing Mix

Managing the Marketing Effort

Measuring and Managing Return on Marketing

The Marketing Environment

The company’s Microenvironment

The company’s Macro environment

Responding to the Marketing Environment

Marketing in the internet age

Market Segmentation, targeting and positioning

Basis for consumer market segmentation – Geographic, demographic, psychographic, behavioural

Requirements for effective segmentation

Differentiation and Positioning

Market coverage strategies-Choosing a market coverage strategy

Market positioning and identification of competitive advantages

Choosing, communicating and delivering the right positioning strategy

Product, Services, and Branding Strategy

What is a Product?

Product and Service Decisions

Branding Strategy: Building Strong Brands

Services Marketing

Additional Product Considerations

Pricing decisions

Factors Affecting Price Decisions

Types of Cost Factors that affect Pricing Decisions

Pricing strategies

Distribution

What is a distribution channel

Types of intermediaries

Distribution channel functions

Vertical marketing systems (an introduction)

Promotion and environmental issues

The promotional mix

IMC concepts

Steps in developing effective communication

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Demonstrate understanding of the fundamental functions of marketing.
  2. Identify and understand the importance of the various factors making up the company’s marketing environment.
  3. Identify the elements of the marketing mix and comprehend their role in creating successful marketing strategies
  4. Comprehend and use the concepts of market segmentation, targeting and positioning and the marketing strategies for differentiation and competitive advantage.
  5. Apply basic marketing theories using case study analysis and group projects.

Course Contents

1.       Consumer Markets and Consumer Buyer Behaviour

a.       The marketing concept

b.       The marketing mix

c.       Customer value

d.       Model of Consumer Behavior

e.       Characteristics Affecting Consumer Behavior

f.         Types of Buying Decision Behavior

g.       The Buyer Decision Process

h.       The Buyer Decision Process for New Products

2.        Communicating Customer Value: Integrated Marketing Communications Strategy

a.       The Promotion Mix

b.       Integrated Marketing Communications

c.       A View of the Communication Process

d.       Steps in Developing Effective Communication

e.       Setting the Total Promotion Budget and Mix

f.         The Nature of Each Promotion Tool

3.       Advertising

a.       Advertising definition

b.       Setting Advertising Objectives

c.       Setting the Advertising Budget

d.       Developing Advertising Strategy

e.       Selecting Advertising Media

f.         Evaluating Advertising Effectiveness and Return on Advertising Investment

4.       Public Relations and Sponsorship

a.       Public Relations definition

b.       The Role and Impact of Public Relations

c.       Marketing Public Relations (MPR)

d.       Major Public Relations Tools

e.       Sponsorship definition

f.         Forms and levels of sponsorship

g.       Considerations for successful sponsorship

h.       Risks associated with sponsorship

i.         Ethical Considerations

5         Personal Selling and Sales Promotion

a.       The Nature of Personal Selling

b.       The Role of Sales Force

c.       Sales Force Structure

d.       Supervising and Motivating Salespeople

e.       Evaluating Salespeople and Sales force Performance

f.         Steps in Personal Selling Process

g.       Sales Promotion

h.       Rapid Growth of Sales Promotion

i.         Consumer Promotion Tools

j.         Developing the Sales Promotion Program

6         Direct and Online Marketing

a.       Building Direct Customer Relations

b.       Benefits to Buyers

c.       Benefits to Sellers

d.       Customer Databases and Direct Marketing

e.       Forms of Direct Marketing

f.         On Line Marketing

g.       On Line Marketing Domains

h.       Type of On Line Marketers

i.         Setting Up and Online Marketing Presence

j.         Designing Effective Web Sites

 

7.   New Product Development and Product Life-Cycle Strategies

a.       Product Life Cycle Strategies

b.       Introduction Stage

c.       Growth Stage

d.       Maturity Stage

e.       Decline Stage

f.         Linking PLC stages with different promotional tools

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify the fundamental functions of marketing and demonstrate understanding of the importance of the application of the fundamental functions of marketing by businesses in today’s competitive world.
  2. Identify the main promotional tools and comprehend their role in achieving marketing objectives
  3. Define the Product Life Cycle concept and relate the use of each of the promotional tools with the various stages of the Product Life Cycle.
  4. Identify the importance of consumer behaviour principles in creating successful promotional campaigns for different market segments
  5. Employ the consumer decision process model to identify how customers make their buying decisions

Course Contents

1. Introduction to marketing Research

a. What is Marketing Research?

b. The Marketing Information System

2. The Marketing Research Process

a. The Marketing Research Process (An Eleven-step process)

 

3. The Marketing Research Industry

a. Ethics and Marketing Research

4. Defining the problem and determining Research Objectives

a. Establishing the need for Marketing Research

b. Define the Problem

5. Research Design

a. Research Design: Exploratory, Descriptive, and Causal Research

6. Using secondary data and on-line information

a. Advantages / Disadvantages of Secondary data

7. Observation, Focus groups, and other Qualitative methods

a. Focus Groups

8. Survey Data-Collection Methods

a. Advantages of surveys.

9. Understanding Measurement in marketing Research

a.  Basic Question-Response Formats

b. Levels of Measurement Scales

10. Designing the Questionnaire

a. The Questionnaire Development Process

11. Selecting and Determining sample size

a. Basic concepts in Samples and Sampling

b. Sample size

12. Data Collection in the Field, Non-response Error, and Questionnaire Screening

a. Non-sampling Error in Marketing Research

b. Data Collection Errors

13. Generating descriptive and inferential statistics

a. SPSS

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify the importance of information systems in assisting the marketing planning process.
  2. Understand the ways in which information is generated and utilised by modern companies.
  3. Identify the 11 marketing research steps.
  4. Outline the various research methods.
  5. Employ the various research methods and tools to different marketing research situations.

Course Contents

Learning Outcomes of the course unit

Course Contents

New Perspectives on Marketing in the Service Economy

Why study Services?

What are Services?

The Marketing Challenges Posed by Services

The Expanded Marketing Mix Required for Services

 

Developing Service Concepts: Core and Supplementary Elements

Planning and Creating Services

The Flower Service

Planning and Branding service Products

Development of New Services

 

Distributing Services Through Physical and Electronic Channels

Place and Time Dimensions

Delivering Services in Cyberspace

 

Exploring Business Models: Pricing and Revenue Management

Effective Pricing Is Central to Financial Success

Pricing Strategy Stands on Three Legs

Putting Service Pricing into Practice

Educating Customers and Promoting the Value Proposition

Role of Marketing Communications

Communicating Services Presents Both Challenges and Opportunities

The Marketing Communications Mix

 

Designing and Managing Service Processes

Blueprinting Services to Create Valued Experiences and Productive Operations

Dysfunctional Customer Behaviour Disrupts Service Processes

Crafting The Service Environment

What is the Purpose of Service Environment?

Dimensions of the Service Environment

Managing People for Service Advantage

Service Employees Are Crucially Important

Frontline Work Is Difficult and Stressful

Cycles of Failure, Mediocrity, and Success

Human Resources Management:

How to Get It Right

Improving Service Quality and Productivity

What is Service Quality?

The Gaps Model-a conceptual tool to identify and correct Service quality Problems

Measuring and Improving Service Quality

Defining and Measuring Productivity

A Process for Developing New Services

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify the characteristics of services and the distinctive marketing challenges posed
  2. Identify the components of the expanded services marketing mix (7 Ps) and apply the 7Ps concept to different service settings
  3. Describe the flower of service and know how the facilitating and enhancing supplementary services relate to the core product
  4. List the categories of new service development and be familiar with the factors needed to achieve success in developing new services
  5. Evaluate the effectiveness of the 7Ps used by various service organisations

Course Contents

Understanding Marketing Strategy

Corporate and Marketing Strategy

Market Orientation

Strategic Marketing Planning

Stakeholder theory

Introduction to the strategic marketing process and the marketing plan

Understanding the marketing environment-Opening up Analysis and Positioning

Internal Analysis

Organizational Strengths and Weaknesses

The PLC

Product Portfolio Analysis (BCG Matrix)

External Analysis

Market Threats and Opportunities

The competitive environment

Porter’s Model of Industry Attractiveness

The impact of the internet on the competitive environment

Macro-environmental analysis

Models: PEST , PESTEL C, DEEPLIST

Market segmentation, targeting and positioning

Market segmentation process

Bases for market segmentation

Targeting strategies

Strategic Positioning

Marketing planning elements

Business mission

Objectives

Ansoff’s product/Market expansion grid

SWOT analysis

Value based marketing

Ethics in Marketing strategy

A Sustainable Earth Matters

Green Marketing Strategies

Social Marketing

Marketing to children

Shaping the core marketing strategy

Product development

Price

Distribution

Promotion

Communicating Effectively

Defining the IMC Concept

Corporate Image and Corporate Identity

The 7 evolutionary stages of IMC

Organizational Challenges to Implementing the IMC concept

IMC in the online environment

Brands and Brand Strategies

Advertising-branding relationship

Innovative advertising methods

Business to Business marketing

Implementation is the Key

Planned Versus Emergent Implementation

The Main Factors Influencing Strategy Implementation

Implementation through internal marketing

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify the principles and importance of strategic marketing thinking.
  2. Apply the steps of corporate planning with particular emphasis on the design of appropriate mission and corporate portfolio design.
  3. Identify the stages of the strategic marketing planning
  4. Apply strategic marketing planning stages to prepare a marketing plan for a company
  5. Design effective internal marketing strategies for effective implementation of strategic plans

Course Contents

  • The Nature of Management and Organizations
  • Types and main forms of business organizations and the reasons for their existence.
  • The various resources organizations have available for the delivery of goods and services
  • The roles, functions and skills of management.
  • Application of the management functions on different organizational settings

The Evolution of Management Theory

  • The schools of management though, since its early evolution.
  • The relevance of Classical, Behavioural, and Management Science theories to management practice
  • The Contingency and Systems approaches to managerial practice.
  • The factors necessitating organizations to become learning organizations.

Organizational Environment and Effectiveness

  • The major micro environmental and macro environmental factors impacting business operations
  • The impact of the environment on organizational and managerial decisions.
  • Techniques employed by organizations to respond to environmental impacts

Organisational Ownership and Types of Structures

  • Forms of business ownership
  • The structure of a proprietorship, partnership and Limited liability companies
  • Managing franchising and licensing
  • The characteristics of mergers, acquisitions and alliances
  • Special issues in Corporate ownership

The Ethical and Social Environment of Organisations

  • Ethics in an Organisational context
  • Managerial ethics and managing ethical behaviour
  • Emerging ethical organisational issues
  • Social responsibility and corporate social governance
  • The role of Government in social responsibility and the influence to organisations

Information Technology effects on Management

    • Managing Information and Information Technology
    • Information and the manager
    • Role of information in the manager’s job
    • Characteristics of useful information
    • Types of information systems
    • The internet

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

    1. Analyse the nature of organizations in general and the role of management in particular
    2. Investigate the evolution of management schools and the main approaches to managerial process.
    3. Identify the internal and external environmental factors which affect general business practices and managerial decisions
    4. Identify and discuss the forms of business ownership, their characteristics and advantages and disadvantages
    5. Discuss what it means to practice good business ethics and highlight the factors that influence ethical behaviour.
    6. Investigate the impact of technology in managerial functions and the emergent issues pertaining with the evolution of the Internet.

Course Contents

Introduction to management and organizations (Chapter 1)

Who are managers? What is management? What do managers do? What is an organization, and how is the concept of an organization changing? Why study management?

Management history (Chapter 2)

Historical background of management. Classical approach. Quantitative approach to management. Behavioural approach. Contingency approach

Organizational culture and environment (Chapter 3)

The manager: omnipotent or symbolic? The organization’s culture. Current organizational culture issues

Managers as decision makers (Chapter 6)

The decision-making process. Types of decisions and decision-making conditions

Foundations of planning (Chapter 7)

The what and why of planning. How do managers plan? Setting goals and developing plans

Managing teams (Chapter 11)

Groups and group development. Work group performance and satisfaction

Managing change and innovation (Chapter 12)

The change process. Types of organizational change. Managing resistance to change. Contemporary issues in managing change

Motivating employees (Chapter 15)

What is motivation? Early theories of motivation. Contemporary theories of motivation. Current Issues In Motivation

Managers as leaders (Chapter 16)

Who are leaders, and what is leadership. Early leadership theories. Contingency theories of leadership. Contemporary views on leadership. Leadership issues in the twenty-first century.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Explain the main functions of management.
  2. Analyse and interpret the evolution of management thought from a variety of perspectives
  3. Identify stakeholders of a company and understand the impact of ethics on business organizations.
  4. Describe how the cognitive biases can lead managers to make poor decisions, and explain the techniques that can improve group decision making.
  5. Define the nature and purpose of planning. Classify the types of goals organizations might have and the plans they use.
  6. Explain why groups and teams are key contributors to organizational effectiveness
  7. Explain the importance of motivation for the workforce and analyse motivation from various theoretical perspectives
  8. Explain what leadership is and when leaders are effective and ineffective.

Course Contents

Human Resource Management

Human Resource Management

Why HRM is important to all managers

Managers involved with HRM

Changing environment and Duties of HRM

HR Strategic Challenges

HR and Competitive Advantage

Strategic HRM

Staffing

Personnel Planning and Recruitment

Job Analysis

Writing job descriptions

Writing job specifications

Recruitment and Selection

Recruitment and Selection Process

Workforce (Personnel) Planning and Forecasting

Developing and using application forms

The Basics of testing and selecting employees

Using Tests at Work

Testing on the web

Interviewing Perspective Employees

Types of selection interviews

How useful interviews are

Using other selection techniques

Training

Training and Developing Employees

Training Process

Training Techniques

Evaluating the Training and Development Effort

Appraisal

Performance Management and Appraisal

Basic Appraisal Methods

The Appraisal Feedback Interview

Compensation

Monetary Compensation

How employers establish pay rates

Current Trends in Compensation

Incentive plans

Employee Incentive

Labour Unions – Employee Safety and Health

Labor Unions and Collective Bargaining

Impasses, mediation and strikes

Protecting Safety and Health

What causes accidents at work?

How to prevent accidents

Employee health: problems and remedies

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Demonstrate the necessary knowledge and understanding on the modern activities concerning the management of people.
  2. Identify and describe the Human Resource functions such as recruitment, selection, compensation, development, performance and appraisal.
  3. Apply the different methods available for effectively recruiting, selecting, compensating, developing, as well as appraising employees.
  4. Evaluate the impact of emerging trends in the practice of major Human Resource Management functions and activities.
  5. Demonstrate the basic elements of unionisation and the process of collective bargaining.

Course Contents

Chapter One – Basic Concepts: Phases of strategic management. Benefits of strategic management. Globalization and environmental sustainability as challenges to strategic management. Theories of organizational adaptation. The learning organization. Basic model of strategic management. Triggering events initiating strategy. Mintzberg’s modes of strategic decision making. Strategic decision making process. The strategic audit.

Chapter Two – Corporate Governance: Responsibilities of the board of directors and its role in strategic management. Composition of the board of directors. Agency theory versus stewardship theory. Codetermination and interlocking directorates. Executive leadership and the importance of strategic vision.

Chapter Three – Ethics and Social Responsibility: Positions for and against social responsibility. Importance of corporate stakeholders and stakeholder analysis

Chapter Four – Environmental Scanning and Industry Analysis:  Environmental scanning. Identifying external strategic factors.Industry analysis, including industry evolution, strategic groups, and hypercompetition. Forecasting techniques, including industry scenarios.

Chapter Five – Internal Scanning: Organizational Analysis: Core and distinctive competencies and VRIO framework. Business models. Industry and corporate value-chain analysis. Basic concepts in organizational structure and culture.

Chapter Six – Strategy Formulation: Situation Analysis and Business Strategy: Identifying a corporation’s strategic factors using the SFAS Matrix.Using the TOWS Matrix to generate potential strategic alternatives. Using the competitive strategies of lower cost and differentiation. Competitive strategy, industry structure, and hypercompetition. The use of offensive and defensive competitive tactics. Using the cooperative strategies of collusion and strategic alliances.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Understand the benefits of strategic management.
  2. Use the strategic audit as a method of analysing corporate functions and activities.
  3. Describe the role and responsibilities of the board of directors in corporate governance.
  4. Understand how the composition of the board can affect its operation.
  5. Conduct a stakeholder analysis.
  6. Use tools for analysing a company environment (SWOT analysis).
  7. Conduct an industry analysis to understand competitive forces that influence the intensity of rivalry within an industry.
  8. Generate strategic options by using TOWS matrix.
  9. Understand the competitive and collaborative strategies available to corporations.

Course Contents

Chapter 1 – Globalization and international business:

The forces driving globalization.

Why companies engage in international business.

Modes of operations in international business.

 

Chapter 2 – The cultural environments facing business:

Behavioural practices affecting business.

Dealing with cultural differences.

 

Chapter 3 – The political and legal environments facing business:    

Should political risk management be an active strategy?

 

Chapter 4 – The economic environments facing business:

Elements of the economic environment. Features of an economy.

Integrating economic analysis.

 

Chapter 6 – International trade and factor mobility theory:

Free trade theories. The statics dynamics of trade.

Factor mobility theory.

 

Chapter 7 –  Governmental influence on trade:                       

Conflicting results of trade policies.

Economic and non-economic rationales of trade intervention.

 

Chapter 8 – Cross-national cooperation and agreements:

WTO, EU. Cyprus entry to the EU.

 

Chapter 9 –  Global foreign exchange markets:

How companies use foreign exchange. Major foreign exchange markets.

 

Chapter 10 – The determination of exchange rates:                         

IMF, Exchange rates arrangements. Determining and forecasting exchange rates. Business implications of exchange rate changes.

 

Chapter 11 –  The strategy of international business:                                                                     

Industry, strategy and firm performance. Global integration versus local responsiveness. Types of strategy.

 

Chapter 12 –  Country evaluation and selection:      

How does scanning work? What information is important in scanning?

Collecting and analysing data. Country comparison tools. Allocating among locations.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Define globalization and international business and show how they affect each other.
  2. Explain why companies engage in international business and identify various entry modes to foreign markets.
  3. Analyse major causes of cultural difference and change.
  4. Discuss cultural guidelines for companies that operate internationally.
  5. Understand how political and legal systems affect the conduct of business.
  6. Explain the idea of political risk and describe approaches to managing it.
  7. Compare and contrast economic indicators.
  8. Discuss theories of international trade and rationales of governmental policies.
  9. Compare and contrast different regional trading groups including but not exclusively EU.
  10. Explain the fundamentals of foreign exchange.

Course Contents

The students will perform the following tasks:

– identify research questions

– propose research methodology

– analyse literature

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify research topics of theoretical and conceptual relevance to his or her field of study
  2. Formulate specific research questions and /or hypotheses within the above context
  3. Identify scientific methods relevant to the chosen research field
  4. Propose a specific methodology relevant to the selected research questions
  5. Identify academic sources pertaining to the selected research area
  6. Review relevant literature
  7. Draft a literature survey
  8. Complete a 5000 word draft document containing the above material

Course Contents

The students will perform the following tasks:

– collect data relevant to the research questions

– process and analyse the data

– identify results

– discuss these results

– interpret these results within the context of existingliterature

– draw conclusions

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Demonstrate the ability to collect data relevant to a specific research question
  2. Analyse the data while following a specific methodology
  3. Identify and explain results that can be derived from the above process
  4. Discuss the research results in the light of the existing relevant literature
  5. Prepare a relevant introduction and conclusion to the research project
  6. Complete the existing 5000 word draft document to reach a final document of 12,000 words
  7. Acquire skills in various domains including: writing, editing, conceptualizing, methodology, work organisation, time management, scientific rigor, academic honesty, ethics, critical thinking and creativity.

Course Contents

Introduction to Information Technology: Explain the basic concepts and terms related to computer / information technology. Explain hardware and software concepts, data processing cycle, viruses and how they can be addressed, ergonomic rules and conditions of health and safety when working with computers.

Windows Operating System: Become familiar with the computer environment, and desktop issues. Explain and apply computer files management as well as print management.

Word Processor: Introduction to Word Processor (Microsoft Word). How to use the application (open/close the application, create new and save a document, use help functions). How to adjust the settings of the application. Implement the main operations of the application such as insert, select, and edit data, as well as duplicate, move, delete, search and replace text. Explain and apply formatting issues and specifically text, paragraph and document formatting. Explain and apply tables, pictures, images, and charts management.

Spreadsheets: Introduction to Spreadsheets (Microsoft Excel). How to use the application (open/close the application, create new and save a spreadsheet, use help functions). How to adjust the settings of the application. Implement the main operations of the application related to the cells, such as insert data; select cells; manage rows and columns; edit, duplicate, move, delete, search, replace, and sort data. Explain and apply how to handle worksheets (i.e. worksheets setup), how to use formulas and functions (arithmetic formulas, call referencing, and functions). Explain and apply formatting issues (numbers, dates, contents, alignment and borders), charts and graphs development and printing issues.

Presentation: Introduction to Microsoft PowerPoint. How to use the application (open/close the application, create new and save a PowerPoint presentation, use help functions). How to adjust the settings of the application. Implement the main operations of the application such as insert new slide, slide design,

Internet (Information)/E-mail (Communication): Explain the basic concepts and terms related to the Internet, security considerations, and learn how to adjust settings. Apply the main steps to web: browsing (assessing, using favourites, and organizing web pages), and navigation (use a search engine). Explain the basic concepts and terms related to the Electronic mail, security considerations, and learn how to adjust settings. Apply the main steps to Messaging (read, reply, and send a message; duplicate, move, and delete email text), as well as mail management (using address book, organizing messages, and printing).

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Describe the main elements of a computer system including peripheral and networking devices and be able to use them in order to organise, share and transfer files using a stand alone system or in a networked environment.
  2. Organise information using a word processor to formulate professionally presented high-quality electronic documents based on the features provided by the word processing software
  3. Synthesize information using electronic spreadsheets in order to perform data analysis using calculated fields and functions, presented in the form of tables and/or graphs.
  4. Communicate through emails and send electronic documents in plain or compressed form, as attachments, using the appropriate technology
  5. Research material using the Internet and the World Wide Web to effectively find information using available online search engines, thus evaluating online information having in mind security considerations.

Course Contents

Introduction to information systems

Explain the new role of information systems in organizations

Key information systems in organizations

Define key information systems in organizations according to:

Functional areas

Management levels

Clarify key challenges to information systems

Enterprise Applications

Explain the key characteristics of Enterprise Applications

ERP; SCM, CRM systems)

Identify new opportunities and challenges

 

Data Management & Business Intelligence

Discuss

Data management

Business Intelligence

Building Information Systems

Discuss

Business process reengineering

IT development

IT Implementation

Process Improvement Exercise

Identify and analyse the information requirements for a new student registration system

Design new processes

Managing IT projects

Explain key steps in information systems project management

E-commerce & m-commerce

Discuss the key principles of

E-commerce

M-commerce

The Business of New Online Social Media

Discuss

What are online social media?

How do businesses utilize online social media to their benefit?

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Explain the role of different types of information systems for different business settings
  2. Clarify the relationship between organizations, information systems, and business processes
  3. Analyze existing business processes and design new ones using business process reengineering principles.
  4. Identify project risks and utilize ways of managing those through project management principles
  5. Distinguish the key principles of e-commerce & m-commerce
  6. Indicate the business aspects of new social media (e.g. facebook)

Course Contents

Finance and the Financial Manager: Issues analyzed in the finance field, the different forms of business organizations and their advantages-disadvantages main functions of financial manager, agency problems between the claimholders of the firm and proposed solutions.

The opportunity cost of capital and time value of money: Definition of the concept of the opportunity cost of capital and time value of money, compounding of interest and calculation of future values, discounting and the Net Present Value (NPV), the relation of opportunity cost with project risk , the rate of return rule and investment decisions in two-periods, the role of financial markets in allocating current and future consumption

Present value, simple and compound interest and applications: Future values for multi-period problems, the Net Present Value approach with multi-period problems , simple and compound interest calculations, present value short-cuts for special cases of present value calculations present value analysis in the presence of inflation, real and nominal rates of interest, application of the present value approach for calculating the present value of a bank loan based on instalments paid, bank effective interest rate and its connection with the compounding of interest, introduction to bond valuation and bond terminology, the present value analysis applied to valuation of bonds.

Alternative methods for investment appraisal: The payback method for investment appraisal, the book rate of return and the internal rate of return method for investment appraisal, the properties of a proper investment appraisal method, identification of the situations where the payback, the book rate of return and the internal rate of return method may be invalidated, the problem of investment under budget constraints and solutions using profitability index and linear programming.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Describe the issues involved in the finance field, the types of organization of firms and the role of the financial manager
  2. Describe the issues involved in the finance field, the types of organization of firms and the role of the financial manager
  3. Solve problems involving mutually exclusive alternatives.
  4. Apply the present value approach to alternative business finance problems including bank loans and bond valuation.
  5. Discuss the differences between alternative methods for project appraisal (Internal Rate of Return and Payback) and describe their disadvantages compared to the Net Present Value approach
  6. Solve problems with current period budget constraints
  7. Formulate and solve problems with multi-period budget constraints with linear programming

Course Contents

Calculation of cash flows: Income and taxes calculation, cash flow statement, depreciation and working capital adjustments, book value of assets and taxes on sale of asset, and opportunity cost adjustments in cash flow statement

Applications of present value: Choice of assets with different economic lives using the equivalent annual cost approach, choice of optimal timing of investment in the present value context

Financial Analysis and Planning: Categories of financial performance ratios (leverage, liquidity, efficiency, profitability, market based),calculation of different ratios, DuPont analysis of profitability, financial planning using ratio analysis, sustainable growth and dividend discount model with growth

Risk and return: Expected return and risk of a portfolio and diversification benefits, the Capital Asset Pricing Model (CAPM) andbeta risk, applications of CAPM for project evaluation using discounted present value

Financing and the cost of capital: Miller-Modigliani theory and the value of the levered firm with debt tax shields, the weighted average cost of capital, the value of equity and debt, the impact of debt increase/decrease on the required returns of equity holders, and the adjusted present value approach

Other issues in financing: International patterns in corporate financing, types of equity and debt, convertible and callable debt and their use as opposed to traditional debentures, rights issues versus new share issues

Working capital management: Issues involved in working capital management, inventory management using the Economic Order Quantity model, credit quality and terms of sale (duration, discount), the decision to prepay or delay credit payment, factoring approach for collecting receivables

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Calculate detailed cash flow statements for net present value analysis and apply present value analysis in various contexts
  2. Calculate financial ratios of firms and critically analyze a company’s leverage, liquidity, efficiency, profitability and market value of the firm
  3. Apply DuPont analysis for understanding the sources of differences between firms’ profitability
  4. Explain the use of Capital Asset Pricing Model for capital budgeting problems and the calculation of required investment returns
  5. Explain how the tax benefits of debt exist and describe theories of capital structure
  6. Calculate the present value of a firm using the weighted average cost of capital
  7. Relate firm valuation using weighted average cost of capital with valuation of the firm using the adjusted present value approach
  8. Enumerate the issues involved in working capital management and apply simple-practical models for inventory and credit management

Course Contents

Functions, limits, continuity. The concept of the derivative of a function. Derivatives of polynomial, logarithmic and rational functions.

Derivatives of the product and quotient. The chain rule.

Higher order derivatives (second, third etc)

Minimize and maximise a function using the second order derivative criterion.

Applications of derivatives in optimization problems with emphasis in business problems.

Functions of two or more variables. Maxima-minima. Application in business problems (marginal cost, marginal revenue, marginal profit, exact cost, maximum profit and minimum cost).

The Lagrange multipliers method.

Exponential growth and decay problems with emphasis to business applications.

Anti-derivatives and the concept of the indefinite integral. Integration of simple functions.

The concept of the definite integral. The fundamental theorem of calculus. Applications in business problems.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Explain the concept of the derivative of a function and calculate the derivatives of polynomial, logarithmic and rational functions.
  2. Apply differentiation for: sums, products, quotients, and the chain rule
  3. Calculate and apply in real business problems the second and order derivatives (for minimization and maximisation).
  4. Apply derivatives in optimization problems with emphasis in business problems (marginal cost, marginal revenue, marginal profit, maximization of profit and minimization of cost).
  5. Calculate the partial derivatives of functions of two or more variables and to apply them for the calculation of the maxima and minima of optimization problems.
  6. Apply and interpret the Lagrange multipliers method for constrained optimization.
  7. Employ the models of exponential growth and decay problems with emphasis to business applications
  8. Explain the concept of the indefinite and definite integral

Course Contents

Basic Algebra

Review of basic Algebra. Functions; Nature and notation, types of functions, (linear, quadratic, cubic, polynomial, rational, exponential, logarithmic). Graphical representation. Linear equations and analytical geometry of the straight line.  Linear functions.

Matrix Algebra-Simultaneous equations

The concept of a matrix. Types and properties of matrices. Transpose, inverse, symmetric, and identity matrix. Matrix algebra. Addition, subtraction, division, multiplication. Square matrices. Use of matrices to solve simultaneous equations (systems of linear equations with two or with three unknowns).

Linear programming-Formulation and graphical Solution

Inequalities in the plane. Introduction to Linear Programming. Graphical solutions for maximization and minimization. Applications in business problems. Special cases (no feasible region, unboundness and multiple solutions)

Linear programming-Formulation and Simplex Method

Further linear programming. Formulation of more complicated problems. Linear programming in 3-dimensions. The usage of Simplex Method. Duality and Sensitivity Analysis.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Recognise the kinds of functions. Solve and draw simple equations and manipulate basic functions (linear, quadratic, exponential, and logarithmic)
  2. Solve systems of linear equations (using various methods (determinants-Cramer’s method, substitution, elimination, comparison).
  3. Understand the concept of a matrix (determine the size and the elements)
  4. Recognize types of matrix (the symmetric matrix and the Identity).
  5. Perform operations on matrices (addition, subtraction, multiplication, division by scalar).
  6. Calculate the cofactors, the minors, the transpose and the inverse of a matrix in order to solve systems of linear equations.
  7. Formulate and solve Linear Programming problems using the graphical method (determine and interpret the feasible region)
  8. Solve Linear Programming problems using the SIMPLEX method (minimization and maximization).

Course Contents

Tabular and graphical methods

Statistics in practice. Kinds of data (discrete and continuous, ordinal and nominal). Different kinds of variables. Frequency tables, cumulative distribution tables and graphs (histograms, bar charts, pie charts). Shape of various data distributions (skewed, and symmetric).

Descriptive statistics: Numerical methods

Summarizing quantitative data. Measures of location (mean, mode, and median) and measures of dispersion (variance, standard deviation, range) for group data and raw data. Difference between measures of location and measures of dispersion and their significance. Extreme values, outliers and their importance.

Introduction to Probability

The idea of probability. Experiments, events, outcomes and sample space. Relative frequencies. Calculation of probabilities and basic relationships of probability (union of events, complement of event, intersection of events). Mutually excusive, mutually exhaustive and independent events. Conditional probability and multiplication law.

Discrete Probability Distributions

Probability distribution tables. Theory and their applications in Business problems concerning the discrete probability distributions: Binomial, Poisson. Expected values and variance.

Continuous Probability Distributions

Theory and their applications in Business problems concerning the continuous probability distributions: Normal distribution. Standard normal distribution and table of the standard normal distribution. Applications in Business problems. Discrete versus Continuous distributions.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Recognise and identify the kinds of data (discrete and continuous, ordinal and nominal). Construct, present and interpret frequency tables, cumulative distributions and graphs (histograms, bar charts, pie charts). Understand and explain the shape of various distributions (skewed, and symmetric).
  2. Summarizing, calculate and interpret the measures of location (mean, mode, and median) and measures of dispersion (variance, standard deviation, range). Identify extreme values and outliers and explain their significance in business applications.
  3. Describe and explain the idea of probability, experiments, events, outcomes and sample space and construct the sample space given an experiment.
  4. Calculate probabilities and basic relationships of probability (union of events, complement of event, intersection of events, conditional probability).
  5. Distinct the difference between mutually exclusive, mutually exhaustive and independent events. Apply these in business problems.
  6. Recognize and construct and explain probability distribution tables.
  7. Recognize, use, apply and explain the theory and their applications in Business problems concerning the probability distributions (Binomial, Poisson, Normal distribution). Use the tables of the standard normal distribution for solving problems and interpret correctly the answers.

Course Contents

Sampling and sampling distributions

The various kinds of sampling techniques (simple, stratified, clustering). Sampling from finite and infinite population. Sampling distribution of the mean.

Interval estimation

Recall of the normal distribution. Point estimation of the population mean. Interval estimation of the population mean for large sample with s known and s unknown. The t-distribution and the table of t-distribution. Interval estimations of the population mean for small sample with s known or s unknown. Interval estimation of the population proportion. Determining the sample size for estimating mean or proportion.

Hypothesis testing

Hypothesis testing. Null and alternative hypothesis. Significant level. Types or errors (type I and II).

Tests of goodness of fit and independence

Chi-square distribution and its table. Chi square goodness of fit test. Contingency tables and the chi square test of association. “Statistical significance”.

Correlation

Independent and dependent variables. Pearson’s coefficient and the values of it

Simple linear regression

Independent and dependent variable. Scatter diagram. Coefficients (b0 and b1) of the simple linear regression model. Regression, using data from the business environment. Forecasting.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Understand and implement the sampling distribution of the mean.
  2. Use the t-distribution and read the table of t-distribution.
  3. Understand, calculate and interpret interval estimation of the population mean for either small or large sample with σ known or unknown
  4. Determine interval estimation of the population proportion and ddetermining the sample size
  5. Understand the concept of hypothesis testing and be in a position to state the null and alternative hypothesis. Also understand the meaning of the significant level and recognise the two types or errors (type I and II).
  6. Distinguish the difference between independent and dependent variable and construct the scatter diagram. Calculate and interpret the Pearson’s coefficient, and, estimate and interpret the coefficients (b0 and b1) of the simple linear regression model.
  7. Apply regression, using data from the business environment and do forecasting.
  8. Recognize the chi-square distribution and make use of its table.
  9. Implement the two chi square tests, goodness of fit test and test of independence, with real data and interpret the results. Explain the meaning of the “statistical significance”.

Course Contents

I. Nature of Business Research

Clarify the research topic
Attributes of a good research topic

Rational thinking

Refining and turning research ideas into research projects

II. Critically Reviewing the Literature

Content and structure of critical review

Literature sources available

Planning obtaining evaluating and recording the literature

III. Research Strategy – Negotiating Access

Different research strategies

Problems and strategies to gain access

Use contacts, overcome concerns, benefits to the organization

IV. Data Collection using Interviews and Questionnaires

Types of interviews

Situations favouring qualitative research interviews

Way to conduct interviews

When to use questionnaires, different types and choices

Designing the questionnaire

Pilot testing and assessing validity

V. Analysing Qualitative Data

Categorization and Unitization

Recognizing relationships and developing categories

Developing and testing hypotheses to reach conclusions

VI. Ethical Issues

Ethics in data collection

Ethics related to the analysis and reporting stages

VII. Writing the Project

Getting started with writing

Structuring your project

Developing an appropriate writing style

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Identify and understand the need for and methods to search for, extract, and synthesize information in a particular subject and topic area.
  2. Evaluate and obtain information from a variety of sources.
  3. Appraise information sources on the basis of quality and reliability.
  4. Collect and analyze data using qualitative methods.
  5. Demonstrate how different research strategies can help structure the research project.
  6. Apply all the above during both the mid-term and final presentation and subsequent preparation of the research project submitted

Course Contents

1.    Introduction: Research process: Steps we follow to do research.

2.    Structure of a research report: Parts of a research report and what is included in each part.

3.    Understanding different methodological approaches. Main research strategies and elements of a research design. Introduction to quantitative methodological approaches. Structure of a questionnaire.

4.    Quantitative research: Analysis and organization of data. Analysis of two variables and the relationship between them. Examples using real data in lab, along with using appropriate software packages such as SPSS, Excel and other.

5.    Statistical methods: Regression analysis (least squares method) for quantitative data. Simple Regression (between two variables). Analysis and explanation of the results.

6.    Multiple regressions: analysis between more than two variables, interpretation of the results.

7.    Extensions of multiple regression using dummy variables, logarithms and quadratics. Hypothesis testing using basic statistical tools on the significance of the results. Examples using real data in lab.

8.    Application of all the above using questionnaire data in excel and though a project and presentation of that project.

9.    Writing the report and prepare the presentation.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Comprehend the nature of research. Why do we do research?
  2. Write the research report: Structure of the report
  3. Understand different quantitative methodological approaches
  4. Collect and analyze quantitative data (data obtained online from various organizations and use of questionnaires)
  5. Describe data using basic statistics (mean-variance-quartiles etc).
  6. Use of software packages for data processing.
  7. Analyze and explain data results using basic estimation techniques (Regression analysis-Least squares method)
  8. Apply all the above during both the mid-term and final presentation and subsequent preparation of the research project submitted

Course Contents

Double entry bookkeeping for company reorganisations: Issues of shares and debentures. Bonus issues, share splits and rights issues

Investment accounts: Examine the theory and practice of double entry bookkeeping as applied to investments with their effect on the balance sheet.

Redemption of securities: Legislation concerning redemption of securities. Ledger and journal entries.

Limited company accounts for internal use: Preparing final accounts for limited company accounts for internal use.

Limited company accounts for publication: Examine formats in line with the relevant legislation and accounting standards. Preparing final accounts for limited company accounts for publication.

Accounting standards: Examination of main principles and accounting standards concerning tangible assets, intangible assets and depreciation.

Introduction to group accounts:  Analyse the significance of subsidiaries and minority interests to group accounts. Be able to prepare consolidated adjustments for goodwill, minority interests and the retained profit. The preparation of group accounts concerning a two-company group.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Prepare investment accounts for limited companies and apply the principles of double entry to company reorganisations including the issue of shares and debentures.
  2. Construct limited company accounts either for publication or for internal use
  3. Examine and apply the accounting standards in the areas of: tangible assets, intangible assets and depreciation
  4. Appraise the financial performance and financial position of limited companies
  5. Apply the basic principles of group accounts.

Course Contents

Advanced aspects of group accounts: Prepare group statements of financial position (balance sheets). Examine consolidated adjustments such as inter group profits, fair value adjustments and inter company balances amongst others. Solving exercises on consolidated adjustments.

Theory of business combinations: Examine the theory and practice of business combinations.

Ratio analysis: Examine the rationale behind ratio analysis. Identify the formulas concerning the main profitability ratios, liquidity ratios, efficiency ratios and investment ratios and their interpretation. Interpret the financial performance and position of the firm from financial statements.

Statements of cash flow: Examine formats in line with international accounting practice. Preparing statements of cash flows for limited company for publication. Interpretation of the results.

Acquisitions of unincorporated businesses: Examine the double entry bookkeeping when an unincorporated business (such as a partnership) is acquired by a limited company. Analyse the double entry bookkeeping from the company viewpoint concerning the acquisition. Interpretation of the results.

Disposals of partnership businesses:  Analyse the reasons behind partnership dissolutions. Examine the double entry bookkeeping when a partnership is disposed of to a limited company. Analyse the double entry bookkeeping from the company viewpoint concerning its acquisition.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Apply financial accounting principles in a corporate setting. Emphasis will be on developing the student’s analytical and critical abilities
  2. Prepare group accounts involving consolidation adjustments and interpret the financial position of the group.
  3. Prepare statements of cash flows in accordance with international accounting standards and be in a position to interpret the results.
  4. Interpret the financial performance and financial position of limited companies using ratio analysis.
  5. Examine advanced aspects of partnership accounting

Course Contents

Introduction to cost and financial accounting: Contrast cost with financial accounting. Identify and define costs by classification and behaviour.

Accounting for materials: applying the FIFO, LIFO and Weighted average methods of stock valuation. Understanding how each method may affect the firm’s profitability.

Costing for labour: Understanding different methods of remuneration such as the time basis and piecework basis and applying these methods. Payroll accounting.

Costing for overheads: Explain the terms “allocation”, “apportionment” and “absorption” in the context of overhead accounting. The overhead analysis sheet and its application to determining an overhead absorption rate. Understanding the process of determining the overhead absorption rate.

Specific order costing techniques: Examining and applying job costing, batch process costing and contract costing.

Process costing: Applying the double entry bookkeeping principles for process costing. Understanding and applying the treatment of losses (normal and abnormal) and equivalent units.

Joint costs:  Examine the accounting treatment of joint costs and by products.

Learning Outcomes of the course unit

By the end of the course, the students should be able to:

  1. Compare and contrast cost accounting to financial accountin