Basics of Business Administration (15cr)

Evaluation scale

H-5

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.
The key topics covered in this course are: Working in a team, A successful business, Customer oriented action, Business intelligence, Entrepreneurship, Marketing mix, Marketing Communications, Economics, Financing and Entrepreneurship networks.

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

See Itslearning

Pedagogic approaches and sustainable development

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.

Honesty and use of sources: all sources and AI outputs used must be properly referenced. Plagiarism and unethical use of AI tools are not permitted. Students must also follow the institution's ethical guidelines and rules regarding the use of AI and academic integrity.

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 100 hours
Business plan 80 hours

Evaluation methods and criteria

Course assessment is based on:

30 % group sessions (attitude, attendance, surprise quizz, coaches observations, peer evaluation)
40 % learning reports
30 % business plan

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

Failed (0)

The student exhibits a limited grasp of the key concepts in the course, facing challenges in applying their knowledge and understanding of the content. There's a notable deficiency in the ability to collect and interpret relevant data to inform judgments, including reflective considerations for assignment requirements. Additionally, the student encounters difficulties in effectively communicating their ideas to others. Furthermore, several parts of the text lack clarity. Class attendance rate of 50% or lower

Assessment criteria, satisfactory (1-2)

The student has displayed a limited grasp of the primary areas covered in the course. There are some challenges in applying their knowledge and understanding of the course content. The student exhibits minimal proficiency in gathering and interpreting relevant data to inform judgments, which should involve reflection on the assignment requirements. Communication of ideas poses difficulties for the student. Additionally, some sections of the text lack clarity.

Assessment criteria, good (3-4)

The student has showcased a strong grasp of the key areas in the course, demonstrating the ability to apply their knowledge and understanding of the course content effectively. They exhibit proficiency in gathering and interpreting relevant data to make informed judgments, incorporating reflective elements pertaining to assignment requirements. The student effectively communicates their ideas to others, and crucial sections of the text are clear and well-written

Assessment criteria, excellent (5)

The student has exhibited excellent knowledge and understanding of the key aspects of the course. They adeptly apply their knowledge and understanding of the course content. The student demonstrates a high level of proficiency in gathering and interpreting relevant data to make informed judgments, incorporating reflective elements related to assignment requirements. Furthermore, the student communicates their ideas clearly and professionally to others. The majority of the text is articulate, clear, and well-written.

Further information

All information is available in ItsLearning.