Course detail
Economics and Business Management
FSI-5EM-K Acad. year: 2024/2025 Winter semester
The course covers the knowledge needs of business management in the field of engineering production with an emphasis on the process approach. It introduces students to the basic economic bases and helps to understand economic production relations in relation to the product in the production system. It is focused mainly on basic information in the field of the company's economy and market principles (e.g. economic result of the enterprise, demand, cost, calculation, production capacity, basics of budgeting, etc.). It also includes the principles of network analysis, market position and strategic planning.
Language of instruction
Czech
Number of ECTS credits
4
Supervisor
Entry knowledge
General mathematics knowledge at the level of FME courses. Basic knowledge of differential and integral calculus.
Rules for evaluation and completion of the course
Conditions for obtaining credit:
100% attendance to practice
Exam:
Test includes 15 test questions (max. 15 points).
Calculation part includes 3 examples (max. 15 points).
Rating:
27 points or more – A;
:26-23 points – B;
22-19 points – C;
18-17 points – D;
16 points – E
Participation in the seminars is mandatory. In seminars activity and basic knowledge is evaluated.
Aims
The aim of the subject is to provide knowledge about the business functioning and production management from economic and managerial point of view.
The students get theoretical knowledge in the production company economy and production management basics. Students should be able to prepare basic technical-economic calculations and apply the knowledge for production management processes.
The study programmes with the given course
Programme N-VSR-K: Production Machines, Systems and Robots, Master's, compulsory-optional
Programme N-KSB-K: Quality, Reliability and Safety, Master's, compulsory
Type of course unit
Guided consultation in combined form of studies
17 hours, compulsory
Syllabus
1. Introduction – basics of business economics. Characteristics of specific economic situations with emphasis on technical factors: Free competition. Transition to imperfect competition. Monopoly. Oligopoly. Enterprise as an institution.
2. The importance of process management and control through activities; market; market evaluation of the product Nut BCG, Nut GE.
3. The result of the company's activities – evaluation of the company's performance; sales, costs; profit; operating load lever.
4. Production factors; cost typology; cost functions; cost management tools; turning point.
5. Demand functions, market equilibrium. Operational performance of the company. Return on equity (ROE), return on assets (ROA), return on sales (ROS), return on capital employed (ROCE)
6. Economic aspects of quality; quality costs.
7. Calculation of production; calculation methods; procedure for solving individual methods and their practical use.
8. Production capacity, efficiency of production equipment, efficiency of production management, usable time fund.
9. Financial planning, basic company balance sheets, balance sheet, profit and loss statement, cash flow (CF).
10. Time and risk in financial management, quantification of risk in financial management and investing, time value of money, hourly cost rate.
11. Planning in society, business. goals, network. CPM analysis and its application in planning.
12. Static and dynamic financial analysis.
13. Production management, resource management, managerial functions, leadership, human resources management.
Guided consultation
35 hours, optionally
Syllabus
1. Introduction to the subject, setting requirements. Examples of corporate structure and its processes.
2. Market, market calculations and comparisons, market position of the product.
3. Evaluation of the company's performance, Profitability.
4. Costs, cost management tools, turning point.
5. Demand functions.
6. Quality costs.
7. Calculation formulas.
8. Production capacity.
9. Company balance sheets.
10. Hourly cost rate, calculations of production capacities.