The goals of this course are to introduce to the students the main characteristics and dynamics in business environment, the essential managerial functions in business organizations, and managerial tools that are commonly applied in the operations of biomedical industries.  

The course will present the main concepts and theories in competitive environment, business strategy, marketing process, performance measurement, and project management. It will provide the frameworks, methodologies, and tools for analyzing and planning these managerial activities. The course will be supported by examples, case studies and exercises in the context of biomedical industries, to demonstrate the application of such frameworks, methodologies, and tools.  

DdD1. Knowledge and understanding

By the end of the course, the students will:

- understand the market dynamics

- know the relevant factors in a competitive environment

- understand the main concepts of business model, business strategy, and marketing process

- understand business performance measurement

- understand the basic project management process

DdD2. Applying knowledge and understanding

By the end of the course, the students will:

- be able to interpret and analyze a market and business environment

- be able to analyze a company's business model, business strategy, and main marketing activities

- be able to conduct basic performance measurement using accounting tools

- be able to identify and plan the main components in a simple project

Business Environment

- The macro environment and the factors influencing the market condition

- The competitive environment

- The supply-demand relationship

Business Strategy

- Definition of business strategy

- Value chain and sources of competitive advantage

- Corporate portfolio strategy

- Business model and strategic innovation

Marketing Strategy and Process

- Market segmentation and strategic positioning

- Marketing decisions 

Performance Measurement

- Cost control

- Main financial performance indicators

Basic Project Management

- Main components of project management: scope, time, progress, cost, risk, stakeholder, value 

The course is designed for the students of Biomedical Engineering. No specific prerequisit of management background is required.

The exam consists of two part:

Part 1: individual written exam (70%) has two types of questions:

1) Open-ended questions based on the theories and frameworks presented in the course

2) Applications of methodologies and tools to interpret the context and to solve questions provided in short cases

Part 2: individual oral exam (30%), two questions will be discussed which could involve any of the following types:

- Questions requiring explanation of theories, frameworks, methodologies, and tools presented in the course

- Questions requiring application of the course content to realistic context

- Questions investigating students' capability of identifying and combining appropriate tools to solve realistic problems or to interpret complex business context

Part II of the book discusses the analysis of market and business environment. Part III discusses the content of business strategy. Chapter 13 & 14 in Part IV discuss part of business strategy presented in class.

There are various editions of the book. The structure of the earlier editions could be clearer for the purpose of basic understanding in marketing. Latest editions (after 2010) have a stronger focus on the digital development in marketing process.