1. Theory of the Firm, Corporate Governance and Organization - What’s a firm? - Different types of firms - Firms and entrepreneurs - The Firm as an input-output system: measures of efficiency, effectiveness, productivity - Stakeholders’ analysis - Profit maximization and the firm’s objectives - Corporate social responsibility - Fundamentals of corporate governance. - Firm’s organization: principles and structures 2. Cost-Profit Analysis - Different types of costs: fixed, variable, direct, indirect, average, marginal, opportunity - Cost structures, operating leverage and cost elasticity - Contribution margin analysis - Prices and revenue management (yield management) - Break even point and break-even sales - Mark-up method 3. Value Creation - Residual income (Economic Value Added). - NOPAT and WACC. - Financial structure (Debt vs. Equity) and cost of capital - Working capital cycle and financial needs. - Levers of value maximization 4. Value Chain and Value System - Primary and supporting activities - Make/buy decisions and vertical integration - Outsourcing, offshoring and virtual corporations - Supply chains and value systems 5. Firm’s Size - Volume economies and scale economies - Learning economies - Economies of scope: sinergies and complementarities - Economies of agglomeration - Measures of firm’s size - Small businesses vs. big corporations 6. Italian Entrepreneurial System - The role of small and family businesses - Industrial clusters - Made in Italy and global competition 7. Analysis of Competitive Systems - Industry analysis and SCP framework - Competitive analysis and strategic groups - Enlarged competition and five forces model - Entry and exit barriers and competitive dynamics 8. Firm’s Strategies - Strategic resources - SWOT analysis - Business definition - Types of competitive advantage - Cost strategies and differentiation strategies - Focus strategies - Growth strategies 9. Operations Management - Industrial production vs. craftmanship - Production of goods and services - Different types of production processes - Different layouts - Make to order vs. make to stock - The choice of production capacity - Performance measurement in Operations 10. Supply chain management Procurement and Inventory Management - Direct vs. indirect purchasing - The functions of Inventories - Safety stocks - Costs of inventories - Fixed-time vs. fixed-lot procurement Suppliers Management - Kralijic Matrix: stability vs. efficiency in suppliers management - Vendor selection and vendor rating - Multiple vs. single sourcing Logistics Management - Cost-service trade off - Measures of logistics performance Distribution Management - Distribution channels - Distribution strategies - Brand loyalty vs. store loyalty - Sell-in vs. sell-out. Trade marketing Supply chains as dynamic complex systems. - The beer-chain simulation - Optimization and integration in supply chains PART A: 1. Theory of the Firm, Corporate Governance and Organization - What’s a firm? - Different types of firms - Firms and entrepreneurs - The Firm as an input-output system: measures of efficiency, effectiveness, productivity - Stakeholders’ analysis - Profit maximization and the firm’s objectives - Corporate social responsibility - Fundamentals of corporate governance. - Firm’s organization: principles and structures 2. Cost-Profit Analysis - Different types of costs: fixed, variable, direct, indirect, average, marginal, opportunity - Cost structures, operating leverage and cost elasticity - Contribution margin analysis - Prices and revenue management (yield management) - Break even point and break-even sales - Mark-up method 3. Value Creation - Residual income (Economic Value Added). - NOPAT and WACC. - Financial structure (Debt vs. Equity) and cost of capital - Working capital cycle and financial needs. - Levers of value maximization 4. Value Chain and Value System - Primary and supporting activities - Make/buy decisions and vertical integration - Outsourcing, offshoring and virtual corporations - Supply chains and value systems 5. Firm’s Size - Volume economies and scale economies - Learning economies - Economies of scope: sinergies and complementarities - Economies of agglomeration - Measures of firm’s size - Small businesses vs. big corporations 6. Italian Entrepreneurial System - The role of small and family businesses - Industrial clusters - Made in Italy and global competition 7. Analysis of Competitive Systems - Industry analysis and SCP framework - Competitive analysis and strategic groups - Enlarged competition and five forces model - Entry and exit barriers and competitive dynamics 8. Firm’s Strategies - Strategic resources - SWOT analysis - Business definition - Types of competitive advantage - Cost strategies and differentiation strategies - Focus strategies - Growth strategies PART B 9. Operations Management - Industrial production vs. craftmanship - Production of goods and services - Different types of production processes - Different layouts - Make to order vs. make to stock - The choice of production capacity - Performance measurement in Operations 10. Supply chain management Procurement and Inventory Management - Direct vs. indirect purchasing - The functions of Inventories - Safety stocks - Costs of inventories - Fixed-time vs. fixed-lot procurement Suppliers Management - Kralijic Matrix: stability vs. efficiency in suppliers management - Vendor selection and vendor rating - Multiple vs. single sourcing Logistics Management - Cost-service trade off - Measures of logistics performance Distribution Management - Distribution channels - Distribution strategies - Brand loyalty vs. store loyalty - Sell-in vs. sell-out. Trade marketing Supply chains as dynamic complex systems. - The beer-chain simulation - Optimization and integration in supply chains