Introduction to Business Administration - Introduction to Business Administration, Group D 2

Participation Prerequisites

• The course leverages discussion-based learning in the class session. Class attendance on campus is mandatory.
• The course requires a couple of study hours for each session. If you are not prepared, you cannot follow the discussions.
• We want to address you by name to keep the classroom atmosphere personal. To this end, please bring your name table card which you have received upon your arrival at WHU to every session. In addition, we request that you upload your picture to Moodle so that other course participants can approach you with questions and comments.

Course Content

Chapter I: Introduction to Economics (Christian Hagist)

Session 01/02

• Voluntary Exchange – The Foundational Economic Activity
• Markets – Enabling Scale
• Capitalism – The Time Machine

Chapter II & III: Introduction to Market Principles (Christian Hagist)

Session 03/04 

• depending on lecture progress

Session 05/06

• depending on lecture progress

Chapter IV: Strategy Formulation (Utz Schäffer)

Session 07/08: Strategy Formulation

• Key terms and concepts of strategy formulation
• The role of competitive advantage
• Critical evaluation of notorious strategy tools and frameworks
• Rationality and its limits in strategic management

Chapter V: Strategy Execution (Utz Schäffer)

Session 09/10/11: Strategy Execution

• Information
• Planning & Control
• Motivation & Incentives
• Organizational Structure
• Organizational Culture
• Leadership

Chapter VI: Fundamentals of Corporate Governance (Utz Schäffer)

Session 12: Corporate Governance

• Should top management be monitored?
• Systems of corporate governance compared
• Co-determination

Intended Learning Outcomes and Competencies

The course provides a holistic overview of economics and business administration, offering students a roadmap for their subsequent studies. It emphasizes a solid understanding of economic principles and business strategies. In today’s media environment, where supposed “revolutions” are quickly proclaimed and trends are often overstated as something entirely new, it is essential to recognize both continuities and discontinuities. Against this backdrop, the course encourages students to approach economic constructs, business concepts, strategy tools, and management fashions with a healthy degree of skepticism. Developing critical thinking is therefore one of the key meta-competences this course aims to foster.

Instruction Type

Presence

Form of Examination

Literature

There is no single required textbook. We have not found a book covering all the topics discussed in this course. Instead, the learning material includes presentation slides, recommended readings, video links, and whiteboard notes. These are available on the learning management system myWHUcourses/Moodle.

Economics

• Emerson, P.M. (2019). Intermediate microeconomics (selected chapters).

Strategic Management

• Collis, D./Rukstad, M. (2008). Can you say what your strategy is? Harvard Business Review, 86(4), pp. 82-90.
• Edmans, A. (2024). May contain lies: How stories, statistics and studies exploit our biases – And what we can do about it, chapter 10 (pp. 235-258).
• Gupta, S. (2018). Driving digital strategy: A guide to reimagining your business, chapter 1 (pp. 13-30).
• Kaplan, R.S./Norton, D.P. (1996). Using the Balanced Scorecard as a strategic management system, Harvard Business Review, 74(1), pp. 75-85.
• Lafley, A.G./Martin, R.L. (2013). Playing to win – how strategy really works, chapter 1 (pp. 1-29).
• Larcker, D./Tayan, B. (2021): Corporate governance matters – A closer look at organizational choices and their consequences, 3rd Edition, pp. 35-37 & 55-57.
• Mintzberg, H./Ahlstrand, B./Lampel, J.B. (2009): Strategy safari – Your complete guide through the wilds of strategic management, chapter 1 (pp. 1-21).
• Porter, M.E. (1998). Competitive strategy: Techniques for analyzing industries and competitors, chapter 2 (pp. 34-46).
• Porter, M.E. (2008). The five competitive forces that shape strategy, Harvard Business Review, 86(1), pp. 1-18.
• Schein, E. (2017). Organizational culture and leadership, 5th Edition, chapter 1 (pp. 3-15).
• Whittington, R., et al. (2023). Exploring strategy, 13th Edition, chapter 9.7.1 (pp. 283-284).