Insegnamento a.a. 2026-2027

30450 - FUNDAMENTALS OF MANAGEMENT

Department of Management and Technology


Student consultation hours

Course taught in English
Go to class group/s: 13
BESS (7 credits - I sem. - OB  |  ECON-06/A)
Course Director:
VALENTINO D'ANGELO

Classes: 13 (I sem.)
Instructors:
Class 13: VALENTINO D'ANGELO


Mission & Content Summary

MISSION

The course provides a comprehensive introduction to the economics and management of business firms. After an overview of the main theories of the firm, the course equips students with the main analytical tools used in managerial accounting. Then, the course provides a comprehensive analysis of corporate strategic decisions. The course blends theoretical and analytical approaches with real-life insights and applications from the business sector. Students are encouraged to take an active part in the learning process. The educational objectives of the course are the following: 1. Provide students with knowledge about the role and functioning of business firms in modern economic systems; 2. Gain knowledge on the main theoretical and analytical tools required for the economic analysis of firms' activities, and learn how to use them in practical situations; 3. Provide a comprehensive overview to the wide range of firms' strategic decisions.

CONTENT SUMMARY

  • The structure and governance of firms.
  • Theories of the firm: stakeholders and shareholders.
  • Agency and corporate governance mechanisms.
  • Learning to read financial statements (income statement and balance sheet). 
  • Measuring performance through financial ratios.
  • Strategic analysis and managerial decisions.
  • Economies of scale and production capacity.
  • Economies of scope and diversification decisions.
  • Vertical integration.
  • The competitive environment: market structures and industries.
  • Creating and sustaining the competitive advantage.
  • Organizations and values.
  • Organizational structures.
  • Leaders and top management teams.

 

Expected Teaching Plan

Class

Topic

Material

1

Course presentation 

An introduction to the economic activity

 

Slides

2

Firm Objectives 

The corporation and its stakeholders

 

Slides

 

3

Corporate governance mechanisms

Slides

 

 

 

4

Case discussion: Patagonia

Case study

5

Case discussion: Parmalat

Case study

 

6

Understanding the purpose and the

system of financial statements

Walsh: 1

7

Learning to read a balance sheet

Walsh: 2, 3

Appendix 1

8

Understanding how the profit and loss

account works

Walsh: 4

Appendix 1

9

Exercise Practice

 

Introduction to performance measurement

Exercises

 

Walsh: 5

10

Performance Measurement

Walsh: 5, 6, 7

11

Understanding cash flows

 

Evaluating asset structure and financial

strength 

 

Financial leverage and corporate valuation

Walsh 8, 9, 10, 12, 13

12

Exercise

Exercises

13

Cost structure and breakeven point

Walsh 15
     

First Partial Exam

14

Economies of scale and learning

Diversification

Besanko: Chapter 2

15

Vertical integration

Besanko: Chapter 3

16

Alliances, joint

ventures, and

contracting

Besanko: Chapter 4

17

Case discussion: Queal

Case Study

18

Competitors and Competition

Besanko: Chapter 5

 

19

Entry and Exit

Besanko: Chapter 6

 

20

Market structure and industry analysis

 

Besanko: Chapter 8

21

Exercises

Exercises

 

22

Case discussion: Delta Airlines

Case study

23

Strategic positioning for competitive advantage 

Besanko: Chapter 9

24

Case discussion: Apple

Case study

25

Strategy and structure

Besanko: Chapter 13

26

Review Session

Slide

Second Partial Exam/General Exam

 


Intended Learning Outcomes (ILO)

KNOWLEDGE AND UNDERSTANDING

At the end of the course student will be able to...
  • Know about the role and functioning of business firms in modern economic systems.

  • Know the basic concepts and language of the economic analysis of firms' processes.

  • Discern the most relevant tools in management accounting.

  • Understand the economic rationales behind a wide array of corporate strategic decisions.

  • Know the wide range of decisions faced by managers and of the underlying economic analysis supporting them.

APPLYING KNOWLEDGE AND UNDERSTANDING

At the end of the course student will be able to...
  • Develop an awareness of the complementary roles that different actors play in modern economic systems.

  • Assess the financial condition of firms by using analytical tools and methods from management accounting.

  • Being able to take basic managerial decisions, using the tools and decision-making models developed during the course. 
  • Apply the theoretical notions of management to the analysis of practical business cases.

 


Teaching methods

  • Lectures
  • Practical Exercises
  • Interaction/Gamification

DETAILS

Class sessions will be interactive and will rely upon the ideas and examples provided by class members.

 

A number of exercises, teaching cases, simulations, and practical illustrations will be used.

 

Class will include:

  • Face-to-face lectures.
  • In-class exercises: quantitative exercises on the most common management decisions.
  • Case-study discussions: discussion of real company cases, including analysis of their governance structure, strategy, and performance.

Assessment methods

  Continuous assessment Partial exams General exam
  • Written individual exam (traditional/online)
   x x

ATTENDING AND NOT ATTENDING STUDENTS

The assessment of attending students is based on a written exam with a mix of open and closed questions (alternatively, two partial - 45 minutes each - or a single final general exam – 90 minutes).

The exam consists of theoretical and practical open and/or closed questions with analysis of real or realistic business cases, as well as exercises on a financial statement.

The exam allows to assess students’ knowledge of the basic concepts and language of the economic analysis of firms' processes, and of the wide range of decisions faced by managers and of the underlying economic analysis supporting them.

Through exercises, it is possible to assess the ability to take basic managerial decisions, using the tools and decision-making models developed during the course.

 


Teaching materials


ATTENDING AND NOT ATTENDING STUDENTS

  • Besanko D., Dranove D., Shanley M., Schaefer S. “Economics of Strategy”. Wiley, 2016

  • Walsh J. “Key Management Ratios”. Prentice Hall, 2016

  • Case studies from the Harvard Business School Case Library.
Last change 23/05/2026 17:12