Objectives and competences
The goal of the course is to empower postgraduate students with a comprehensive and in-depth understanding of key theoretical concepts and applied examples in those areas of the company's operation where direct applicability to business practice is demonstrated. Students will enhance their understanding of the fundamental concepts upon which the success of a modern company is based and at the same time develop competences in independent research, critical analysis, problem solving, strategic thinking and ethical decision making aimed at the effective and responsible implementation of business practices.
Content (Syllabus outline)
1. Traditional and non-traditional companies
2. Traditional and modern theories of the firm
3. Internal company structure and management
4. Company as nexus of contracts
5. Incomplete and asymmetric information
6. Team production and property rights
7. Behavioral theory of the firm (company as a coalition of stakeholders)
8. Agency theory of the firm (Relationships between principals and agents)
9. Transaction costs economics and issues of specific assets
10. Resource-based view of the firm (gaining and maintaining competitive advantage)
11. Evolutionary framework of the company
12. Information and network economics
Learning and teaching methods
• Lectures employ multimedia tools and digital resources - to deliver theoretical knowledge, promoting student engagement and understanding.
• Case studies - to develop analytical and decision-making skills.
• Individual critical study of the literature.
• Individual applied research work.
• Presentations and discussions.
Intended learning outcomes - knowledge and understanding
Students in this course will:
1. Compare the differences between traditional and modern theories of the firm, and gain an in-depth understanding of the fundamental concepts addressed by modern theories of the firm. (PILO 2a).
2. Develop an in-depth understanding of contemporary theoretical concepts, including the behavioral, transactional, agency, and evolutionary theories of the firm, as well as the resource-based view and relate them to real-world problems in domestic and international companies. (PILO 2b).
3. In the context of independent research work, select and apply qualitative research methods, supported by digital tools and artificial intelligence (AI), to test the applicability of the theoretical concepts in business practice. (PILO 1a, PILO 3a).
4. Analyze complex, incomplete, sometimes contradictory information, and on this basis, propose innovative solutions in an entrepreneurial context. (PILO 2c).
5. Prepare and present research findings to the class, structure arguments, and defend their positions by responding to questions and critiques from the audience (PILO 3b).
6. Evaluate ethical practices, identify and resolve ethical dilemmas, develop proactive approaches to problem-solving, and collaborate with others in the ethical context of business. (PILO 3c, PILO 4a).
The PILO label (i.e., Programme Intended Learning Outcomes) defines the contribution of each listed intended learning outcome of a course towards achieving the general and/or subject-specific competencies or learning outcomes acquired through the programme.
Intended learning outcomes - transferable/key skills and other attributes
Students in this course will:
1. Compare the differences between traditional and modern theories of the firm, and gain an in-depth understanding of the fundamental concepts addressed by modern theories of the firm. (PILO 2a).
2. Develop an in-depth understanding of contemporary theoretical concepts, including the behavioral, transactional, agency, and evolutionary theories of the firm, as well as the resource-based view and relate them to real-world problems in domestic and international companies. (PILO 2b).
3. In the context of independent research work, select and apply qualitative research methods, supported by digital tools and artificial intelligence (AI), to test the applicability of the theoretical concepts in business practice. (PILO 1a, PILO 3a).
4. Analyze complex, incomplete, sometimes contradictory information, and on this basis, propose innovative solutions in an entrepreneurial context. (PILO 2c).
5. Prepare and present research findings to the class, structure arguments, and defend their positions by responding to questions and critiques from the audience (PILO 3b).
6. Evaluate ethical practices, identify and resolve ethical dilemmas, develop proactive approaches to problem-solving, and collaborate with others in the ethical context of business. (PILO 3c, PILO 4a).
The PILO label (i.e., Programme Intended Learning Outcomes) defines the contribution of each listed intended learning outcome of a course towards achieving the general and/or subject-specific competencies or learning outcomes acquired through the programme.
Readings
1. Rebernik, M. in Crnogaj, K. (2022):Temeljni koncepti podjetja (gradivo za študij), Maribor: EPF UM.
2. Crnogaj, K. in Rebernik, M. (2020): Pisanje raziskovalnega eseja, Maribor: EPF UM.
Dodatna literatura:
3. Douma, S., and Schreuder, H. (2017). Economic approaches to organizations. 6th Edition. Pearson.
4. Fiet, J.O. (2022). The Theoretical World of Entrepreneurship. UK, USA: Edward Elgar Publishing.
5. ŠIREC, Karin, CRNOGAJ, Katja, BRADAČ HOJNIK, Barbara, RUS, Matej, TOMINC, Polona, ŠIREC, Karin (urednik), CRNOGAJ, Katja (urednik). Podjetništvo ob preboju digitalizacije in umetne inteligence : GEM Slovenija 2024. 1. izd. Maribor: Univerza v Mariboru, Univerzitetna založba, 2025. 181 str., tabele. Knjižna zbirka Globalni podjetniški monitor Slovenija. ISBN 978-961-286-982-3. ISSN 3023-9869. https://press.um.si/index.php/ump/catalog/book/972, https://dk.um.si/IzpisGradiva.php?id=92707, https://www.dlib.si/details/URN:NBN:SI:DOC-N7PLBRYV, DOI: 10.18690/um.epf.3.2025. [COBISS.SI-ID 234288899]
6. Posamično določeni članki ali poglavja iz knjig glede na dodeljeno temo raziskovalne naloge / Individually assigned papers or book chapters according to the research paper question.
Prerequisits
A passing grade in the written exam is a prerequisite for the consideration of other assessment elements (research paper).
