Study Guide

Objective

The student is able to
- use the basic terminology of business administration
- interpret the interactive relationships between the organization's economic process and the interest groups and their impact on profitability
- present the main characteristics of modern marketing thinking
- give examples of issues that have an effect on buyer behaviour and explain how the marketing mix can be used to reach target segments
- compare company forms businesswise
- explain the main characteristics and functions of the Finnish legal system
- apply the basic sources of legal information in problemsolving
- utilize business plan as a tool

Content

- basic concepts of business administration
- economic process of an organization
- profitability and calculation of profitability
- financing of business start
- risks and risk management
- organization and management
- company forms
- modern marketing thinking
- marketing environment
- buyer behaviour and segmentation
- marketing mix

Materials

Osterwalder. A., Pigneur, Y. & Clark, T. 2010. Business model generation: a handbook for visionaries, game changers and challengers. (Section 1: Business Model Canvas)

Uusyrityskeskus 2022. Guide: Becoming an entrepreneur in Finland

Other materials in ItsLearning

Teaching methods

During this course the student develops the basic skills of working life in various ways. The student learns to work in a goal-oriented manner, acquire knowledge independently from different sources and reflect on previous experiences. Learning the basics of cost-awareness and economical thinking supports these goals.

The student also learns to work in groups participating in the solution-making process in different roles. Group work improves social interaction skills and problem-solving skills.

Exam schedules

This course has one exam on 2nd of May. Assessment: 1-5.

International connections

In this course we are utilizing PBL (problem based learning) method. PBL is a student-centered approach in which students learn about a subject by working in groups to solve an open-ended problem. Students must identify the needed information. They learn the information and apply it to solve the problem.

Student workload

This course equals to 15 ECTS credits and 405 hours of work in total. The amount of work has been calculated as follows:

Group work and lectures 140 hours
Research 85 hours
Learning reports 80 hours
Business plan 60 hours
Exam preparation 40 hours

Content scheduling

The aim of the course is that the student understands the basics of business. The student acquires knowledge on entrepreneurship, business operations and the prerequisites of profitable business in a constantly alternating business environment. The student receives an overall picture of business operations and learns to utilize business plan as a tool.

There are ten main subjects that students are absorbed during this course: Working in a team, A successful business, Customer oriented action, Entrepreneurship, Profitable business and pricing, Sustainable enterprise, Marketing mix, Marketing Communications, Financing and Entrepreneurship networks.

Contact lessons are organized every Tuesdays and Fridays from 27.1. to 5.5. See detailed schedule from lukkari.turkuamk.fi, group AVORAK23.

Further information

All information is available in ItsLearning.

Evaluation scale

H-5

Assessment methods and criteria

Course assessment is based on:

25 % group sessions
25 % learning reports
25 % business plan
25 % exam

All parts must be passed (grade scale 5-1). Final grade is based on the performance on the different parts (grade scale 5-1).

Assessment criteria, excellent (5)

Student
-apply a wide range of basic business concepts in his/her work.
-think up and design an innovative and feasible business idea