BUD1 Introduction to Business Administration is taught in the first semester, where an overall aim is to give the student an introduction to the firm and the role of technology in business. BUD1 gives a basic understanding of what a firm is, as well as an introduction to central managerial concepts and tools, and how to use these when making business decisions. Addressing the concept of sustainability, the course introduces the student to the triple bottom-line (People Planet and Profit). BUD1 is an important steppingstone for later BUD-courses in accounting and finance. BUD1 will also be relevant for other BEDS courses taught in the first semester.
Some of the questions we ask in BUD1, are:
How does the firm earn money? Which products or services drives the profitability of the firm?
What are the relevant costs and incomes that needs to be considered, when making decisions regarding production and pricing? How can new technologies influence the firms’ costs and revenues?
To investigate such questions, we introduce basic concepts from cost-theory and accounting, using a combination of lectures, flipped classroom and workshops.
BUD1 is structured around 5 modules:
Module 1: Introduction to the firm and management accounting for business
Module 2: Information for decision-making
Module 3: Cost assignment
Module 4: Information for planning, control and performance measurement
Module 5: Strategic performance and cost management, value creation and future challenges