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. Company as a coalition of stakeholders
8. Relationships between principals and agents
9. Transaction costs and issues of specific assets
10. Gaining and maintaining competitive advantage
11. Evolutionary framework of the company
12. Information and network economics
Learning and teaching methods
Written exam
Research Essay
A written exam that covers all the main subject areas. The student must achieve 56% of the maximum score.
Research Essay - Literature research and writing a research essay using qualitative research methods.
Intended learning outcomes - knowledge and understanding
Students in this course will:
1. Gain an understanding of the differences between traditional and modern theories of the firm, and gain an in-depth understanding of the fundamental concepts addressed by modern theories. (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 associated with real-world problems in domestic and international companies. (PILO 2b).
3. As part of an independent research work, students integrate and use qualitative research methods, supported by digital tools and artificial intelligence (AI), with the aim of finding a direct application of the discussed theoretical concepts in business practice. (PILO 1a, PILO 3a).
4. Critically analyze complex, incomplete, sometimes contradictory information that contributes to innovative solutions in a business context. (PILO 2c).
5. Develop the skills to effectively present and argue their research findings to the class, which includes the ability to communicate clearly, structure arguments, and respond to questions and criticism from audience members (PILO 3b).
6. Get the opportunity to critically evaluate ethical practices, recognize and manage ethical dilemmas, develop proactive approaches to solutions, and learn to 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. Gain an understanding of the differences between traditional and modern theories of the firm, and gain an in-depth understanding of the fundamental concepts addressed by modern theories. (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 associated with real-world problems in domestic and international companies. (PILO 2b).
3. As part of an independent research work, students integrate and use qualitative research methods, supported by digital tools and artificial intelligence (AI), with the aim of finding a direct application of the discussed theoretical concepts in business practice. (PILO 1a, PILO 3a).
4. Critically analyze complex, incomplete, sometimes contradictory information that contributes to innovative solutions in a business context. (PILO 2c).
5. Develop the skills to effectively present and argue their research findings to the class, which includes the ability to communicate clearly, structure arguments, and respond to questions and criticism from audience members (PILO 3b).
6. Get the opportunity to critically evaluate ethical practices, recognize and manage ethical dilemmas, develop proactive approaches to solutions, and learn to 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.
3. Posamično določeni članki ali poglavja iz knjig glede na dodeljeno temo eseja / Individually assigned papers or book chapters according to the essay question.
Dodatna literatura:
4. Douma, S., and Schreuder, H. (2017). Economic approaches to organizations. 6th Edition. Pearson.
5. Fiet, J.O. (2022). The Theoretical World of Entrepreneurship. UK, USA: Edward Elgar Publishing.
