The core Introduction to Business and Management course of the Management module is designed around ten major topics incorporating the history, main concepts, theoretical perspectives and practical applications of management practices.
Starting from concept definitions and historical aspects of Management as a field of study, the lessons build on solid theoretical grounding to analyse the working environment, the principles and challenges of effective leadership, decision-making, and planning. Practical tools and techniques applied in successful project management are introduced, complemented by examples and case studies to facilitate students’ understanding of real-life applicability.
The course concludes with an important engagement with questions of ethics, social responsibility and sustainability, indispensable for any project and organisation. All ten lessons include real-life scenarios and feature short assessment tests to support self-led learning.
The lesson introduces the concept of Management and its main characteristics, activities, and processes. The video presents the evolution of Managerial thought structured around several schools and social scientists. The lesson concludes with a discussion of women’s contribution to the development of managerial thought in the last century. Students will learn what management is as a discipline and reflect on the main theoretical
perspectives in management and the managerial process.
perspectives in management and the managerial process.
Learning objectives
- Understanding of the concept of Management;
- Learning the main definitions of the Management;
- Learning the key characteristics of the Management;
- Becoming familiar with the history of Management as a discipline;
- Knowing the main authors with contributions to the development of managerial thought.
Content:
- The concept of Management: the presentation of several definitions in a variety of contexts. (2 minutes)
- Characteristics of Management: the discussion of the main activities and processes (1 minute)
- Nature of Management: the analysis of scientific, artistic and professional essences of Management. (1 minute)
- Evolution of Management thought:
- Premises: Adam Smith and Industrial Revolution (2 minutes)
- The classical school (Scientific school: Taylor, Gantt / Organisational school: Fayol, Weber, Simon) (5 minutes)
- Behavioural school: Mayo, Maslow, McGregor (3 minutes)
- The quantitative school (2 minutes)
- Individual work and Bibliography (1 minute)
Bonus: The history of women in management (2 minutes)
The lesson explores the need to consider the changing environment in organisations. The video presents the internal and external environments of an organisation, focusing on their core elements. The lesson concludes with a discussion of the perils of doing business in an environment with weak legal and political institutions based on the case study of The Hermitage’s Russian Quandary. Students will learn how to manage internal dynamics and identify various actors influencing external environments in organisations.
Learning Objectives
- Understanding environments in organisations, the dynamics and the need to manage them;
- Identifying the main elements of the internal environment;
- Understanding the main elements and identifying actors related to the external environment;
- Applying the knowledge of internal and external environment characteristics in Management practice.
Content:
- Management and environments: the introduction of the topic and the problem. (1 minute)
- The economic environment: the description of the main actors (Suppliers, Customers, Competitors, Government, Investors). (4 minutes)
- The legal and political environment: the discussion of the role of regulations, laws, political stability, political and other actors in business activity. (4 minutes)
- The social and cultural environment: the analysis of social environment factors, cultural and ethical norms, and codes of morality to be considered by a good manager. (3 minutes)
- The technological environment: the discussion of the role of technology and its influence on companies. (4 minutes)
Bonus: Hermitage’s Russian Quandary; a case study co-authored by Harvard Business Publishing with Columbia Business School and discussing how difficult is to do Business in an environment with weak legal and political institutions (3 minutes)
The lesson discusses the importance of understanding organisational typology and process. The video explores the processes that characterise organisational life, different types of organisations, and their nature. The lesson concludes with an analysis of teamwork based on the case study of managing a major development project in Ethiopia. Students will learn how understanding organisations helps managers design, develop and manage an organisation effectively.
Learning objectives:
- Understanding organisation processes;
- Understanding the definitions and characteristics of an organisation;
- Identifying the steps in designing an effective organisation;
- Analysing formal and informal organisations;
- Understanding the nature of different types of organisations.
Content:
- Understanding organisations: presentation of different approaches to organisational theory from economic, sociological and psychological perspectives, followed by a discussion of the main characteristics of organisations. (4 minutes)
- Organisational typology: the comparative analysis of differences between formal and informal organisations and the afferent functions and processes. (2 minutes)
- Steps in the process of organising: the discussion of the managerial function of organising with theoretical highlights and empirical examples. (5 minutes)
- Organisational development: the discussion of methods and techniques to increase productivity and effectiveness in organisations, followed by an analysis of different scenarios of adjusting to changing circumstances. (5 minutes)
Bonus: In the Shadow of the City; a case study co-authored by Anne Donnellon, James Reed, Nicholas Richardson outlining the history of a collaborative effort to create an organisation. (4 minutes)
This lesson analyses the concepts of authority, responsibility and leadership, and their importance in management. The video compares different leadership styles and their effects on managerial activity. The lesson concludes with a discussion of the industrial democracy model of leadership based on the case study of Simco Partners in Brazil. Students will learn to distinguish between the three concepts, explore their relationship and apply them in real-life contexts.
Learning objectives
- Understanding the concept of and the sources of authority;
- Distinguishing between delegation and decentralisation;
- Understanding the relationship between Authority and Responsibility;
- Understanding the concept of leadership and leadership theories;
- Knowing about different leadership styles.
Content:
- Understanding authority: the discussion of the definition and the factors for the successful use of authority. (2 minutes)
- Exploring the sources of authority: the comparative analysis of several sources of authority, complemented by the discussion of the notion of “power” and its characteristics. (4 minutes)
- Delegation of authority: the discussion of the types, methods and principal ways to delegate authority. (3 minutes)
- Understanding leadership: the presentation of definitions and main components. (3 minutes)
- Leadership styles: the discussion of different models and styles of leadership with a focus on identifying the differences. (4 minutes)
Bonus: “Ricardo Semler: A Revolutionary Model of Leadership”; a case study co-authored by William W. Maddux, Elin Williams, Roderick Swaab, Tanure Betania outlining the story of Brazilian business leader, Ricardo Semler, who brought the family business to multi-national triumph. (4 minutes)
The lesson looks at the decision-making process as a key element in any managerial activity. The video explores the conceptual characteristics of the decision-making process, applied in successful models for managers. The lesson concludes with an analysis of decision-making under uncertainty and risk based on the case study of the 1994 wildland fire management near Glenwood Springs, USA. Student will learn the differences between individual and group decision-making and apply appropriate techniques to maximise efficiency in a variety of circumstances.
Learning objectives:
- Understanding the decision-making process;
- Knowing several useful models of decision making;
- Comparing individual and group decision-making;
- Understanding the particularities of decision-making under certainty, uncertainty and risk conditions.
Content:
- Significance and characteristics of decision-making: the discussion of the concept and core theoretical approaches to decision-making. (2 minutes)
- Decision-making models: the comparative analysis of rational and non-rational models used by managers in the decision-making process. (5 minutes)
- Systems approach to decision-making: the discussion of internal and external environments’ role in the decision-making process. (2 minutes)
- Individual and group decision-making: the comparative analysis of the two modalities with an emphasis on the forms of group decision-making. (2 minutes)
- Decision-making under certainty, uncertainty and risk: the analysis of decision-making in different conditions, followed by a discussion of techniques for improving it (risk analysis, decision trees, preference or utility theory). (4 minutes)
Bonus: “Storm King Mountain”; a case study co-authored by Michael A. Roberto, Erika M. Ferlins examining decision-making and team dynamics in high-stress, crisis circumstances during the Colorado fire disaster that resulted in 12 deaths. (4 minutes)
The lesson addresses the importance of formal planning activity in organisations. The video explores the role of the planning process in managerial activity and discusses different types of planning and planning techniques involving useful tools for planning, such as the Gantt Chart. The lesson concludes with an exploration of the role of performance drivers in improving production based on the case study of a PPL steel company in Germany. Students will learn how to organise managerial activity and use planning tools in project management.
Learning objectives:
- Understanding the importance of the planning process for managerial activity;
- Understanding how goals and plans are linked;
- Knowing the different types of plans;
- Knowing and applying contemporary planning techniques.
Content:
- The importance of planning: the presentation of the main reasons for the planning activity in organisations. (1 minute)
- The Planning process and the goals level: the analysis of the different types of goals and plans. (2 minutes)
- Strategic planning: the outline of the process of strategic planning and analysis of its main elements. (5 minutes)
- Scheduling: the discussion of scheduling techniques with an emphasis on the Gantt Chart. (3 minutes)
- Contemporary planning techniques: the analysis of scenario planning in comparison to project management. (4 minutes)
Bonus: “Solid as Steel: Production Planning at thyssenkrupp”; a case study co-authored by Karl Schmedders, Markus Schulze, indentifying and analysing planning problems in a production process. (4 minutes)
The lesson introduces the most common analysis method – SWOT analysis. The video presents the aims of SWOT analysis, emphasises the methodological process, and highlights the benefits and pitfalls of SWOT analysis. The lesson concludes with a real-life example of SWOT analysis, based on the performance of the American stream giant Netflix. Students will learn the principles of using a fundamental analysis tool and apply this tool in assessing how to run a company.
Learning objectives:
- Understanding how SWOT analysis works and its application in management;
- Learning to conduct SWOT analysis;
- Knowing the benefits and pitfalls of SWOT analysis;
- Exploring the most widely-used ways of running SWOT analysis within the company.
Content:
- The concept of SWOT analysis: the assessment of Strengths, Opportunities, Weaknesses and Threats. (4 minutes)
- SWOT applications: who needs SWOT Analysis and why? (2 minutes)
- The SWOT analysis process: the analysis of the internal and external environments. (2 minutes)
- The SWOT analysis process: how to perform and document SWOT analysis. (2 minutes)
- The SWOT analysis process: how to prepare an Action Plan. (2 minutes)
- Tool assessment: the benefits and pitfalls of SWOT Analysis. (2 minutes)
- The technique: brainstorming and prioritisation in SWOT Analysis. (2 minutes)
Bonus: “Netflix Inc.: Streaming Away from DVDs”; a case study co-authored by Luis Alfonso Dau and David T.A. Wesley, conducting a simple SWOT analysis of Netflix. (4 minutes)
The lesson introduces students to Project Management, its processes, techniques and steps taken in managing projects. The video talks through each process and step, providing the background for specific knowledge and skills used by project professionals and managers. The lesson concludes with an exploration of project management’s interdisciplinarity, based on a case study of Agile project management in multiple professional settings. Students will learn how to identify and manage different project stages and communicate effectively as part of a team.
Learning objectives:
- Understanding the concept of what project management and its applications;
- Learning the different project phases;
- Understanding the framework for analysing and communicating with project stakeholders;
- Knowing the tools used in project resource management.
Content:
- Introduction to Project management: definition, uses and challenges. (2 minutes)
- Project phases: the details and steps in initiating and managing a project. (6 minutes)
- Communication with stakeholders: the framework for effective communication with project stakeholders. (4 minutes)
- Managing the project team: the tools used in project management and the high-performing project team structure. (4 minutes)
Bonus: “Agile Project Management”; a case study by Jaume Ribera, describing the basics of Agile Project Management as it is applied in areas beyond software development. (4 minutes)
The lesson introduces the principles of ethical conduct and social responsibility, indispensable for all organisations. The video talks through common social responsibility issues and discusses ways to avoid malpractice and improve ethical strategies. The lesson concludes with an analysis of corporate responsibility based on the example of American tech giant Apple. Students will learn about the importance of ethics in running a socially responsible business and gain the necessary skills to balance maximising economic return and societal impact.
Learning objectives:
- Understanding the link between business ethics and social responsibility;
- Understanding social responsibility issues and how to address these;
- Knowing strategic responses to social responsibility;
- Using ethical approaches to managing organisations.
Content:
- Concept definition: ethics and social responsibility. (2 minutes)
- The link between ethics and responsibility: ethical behaviour and social responsibility within organisations. (2 minutes)
- Social responsibility: business relationship with different stakeholders. (4 minutes)
- Business ethics: malpractices. (2 minutes)
- Business ethics: customer confidence. (2 minutes)
- Ethics and social responsibility: contemporary ethical business practices and strategies. (4 minutes)
Bonus: “Apple and Its Suppliers: Corporate Social Responsibility”; a case study co-authored by Sun Hye Lee, Michael Mol, Kamel Mellahi, exploring the trade-off between being profitable and doing well for society at large. (4 minutes)
The lesson addresses the importance of sustainability in motivating employees. The video explores the link between sustainability and motivation using the outcomes of a non-sustainable business approach for motivation. The lesson concludes with the analysis of employee engagement based on the case study of the CodeGreen environmental engagement initiative at Caesars Entertainment, the largest gaming company in the USA. Students will learn to identify the best ways to motivate employees towards active engagement in sustainable endeavours.
Learning objectives:
- Understanding the link between sustainability and motivation;
- Understanding different sustainability issues and strategies to overcome these;
- Knowing the strategic responses to sustainability and motivation;
- Applying the sustainability challenge for motivational businesses.
Content:
- Sustainability and motivation: the link between concepts and behaviours. (2 minutes)
- Theories of motivation: main concepts and theorists used in contemporary business practice. (4 minutes)
- The sources of motivation: sustainability as an important motivational source. (3 minutes)
- The motivational process: steps and outcomes. (3 minutes)
- The motivational process: the link between sustainable business activities, company reputation and job satisfaction. (4 minutes)
Bonus: “Caesars Entertainment: CodeGreen”; a case study co-authored by George Serafeim, Robert G. Eccles, and Tiffany A. Clay, exploring the effect of a sustainable initiative on employee engagement and motivation. (4 minutes)
