Course Program
The Firm and Its Context
- Definition and nature of the firm
- Firm behavior
- Mechanistic vs. organic organizational structures
- The firm's external system/environment
Economic Foundations
- Welfare economics
- Market failures
- Public goods
- Transaction costs
Information and Its Challenges
- Information asymmetry
- Moral hazard
- Adverse selection
Organizational and Business Aspects
- Business functions
- Organizational models
- Open innovation strategies
- Incentive systems and their organizational impact
- Ownership vs. control structures
Process and Operational Management
- Process engineering
- BPMN 2.0 (Business Process Model and Notation)
