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1
1st Semester MBA (March -July)
ZAGREB SCHOOL OF ECONOMICS AND MANAGEMENT
GRADUATE MBA PROGRAM
MBA Tracks
General MBA
FLEX MBA
MBA in Management
MBA in Marketing
MBA in Marketing
MBA in Marketing
MBA in MIS
MBA in Finance and Accounting
MBA in Finance and Banking
MBA in Accounting, Auditing and Taxes
MBA in Quantitative Finance
MBA in Human Resource Management
MBA in Supply Chain Management
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1st Semester MBA (March -July)
1st Semester MBA (March- July)
Course ECTS Page
Business Ethics and Corporate Social Responsibility 3 ECTS 3
Business Intelligence Application 5 ECTS 5
Consumer Behavior 5 ECTS 9
Direct taxes in Croatia 5 ECTS 11
Electronic Business Management 5 ECTS 13
Financial Management 9 ECTS 15
Financial Mathematics 2 2 ECTS 18
Financial Reporting 6 ECTS 20
Financial Statement Analysis 5 ECTS 22
Financial Statement Audit 6 ECTS 24
Information Security 5 ECTS 26
International and EU Tax Law 5 ECTS 29
Introduction into Financial Econometrics 2 ECTS 33
Leadership 4 ECTS 35
Management of Change and Human Resource Management 5 ECTS 38
Managerial Techniques 3 ECTS 41
Marketing Research 5 ECTS 44
Operations Management 6 ECTS 47
Price Management 5 ECTS 50
Product Management and Design 5 ECTS 52
Random Process of Financial Markets 3 ECTS 55
SAP/ MS Dynamics NAV 6 ECTS 58
Selected Chapters of Financial Mathematics 3 ECTS 61
Services Marketing 5 ECTS 63
Random (Stochastic) Processes of Financial Markets 3 ECTS 65
Strategy 5 ECTS 68
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1st Semester MBA (March -July)
1st SEMESTER (MARCH-JULY)
(SC600) BUSINESS ETHICS AND CORPORATE SOCIAL RESPONSIBILITY
(ECTS 3)
In the Business Ethics and Corporate Social Responsibility Course, students will learn how
to recognize moral dilemmas in business, fast formulation of solutions to these dilemmas,
all in a transparent manner. Students will also engage in critical analysis of business cases
and will learn to make transparent, ethical business decisions. The following concepts are
covered in his course: ethical systems, ethical systems, ethical decision making in doing
business- all in relation to customers, market, environment, procurement and international
business. Furthermore, the place and role of a corporation will be analyzed in terms of its
position with respect to culture, religion, tradition, government policy and legislation, etc.
COURSE OBJECTIVES
Although CSR is a relatively new term, its roots go back a long time and can be traced to a
variety of philosophical, ethical, and environmental discourses. Thus there are a number of
different approaches to CSR as well as a number of different definitions of what exactly CSR
comprises. Furthermore the concept has been extended to apply not just to corporations
but to many other (not necessarily profit seeking) forms of organisation. The concept of
CSR is therefore complex. It is the purpose of this course to introduce students to this
complexity and to the various components which might comprise socially responsible
behaviour. In doing so it is intended to provide a framework both for further study and for
planning and evaluating the actions and performance of an organisation in the context of
sustainable and socially responsible activity. Particularlly: (1) Developing sensitivity to
immoral and irresponsible acts in business world. (2) Encouraging proactive behavior in
favor of ethical standards. (3) Developing know-how of incorporating ethical standards in
business procedures and detecting irresponsible acts in companies.
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1st Semester MBA (March -July)
CLASS HOURS
Lectures 3 hours per day (5 days) Total 15 hours
TOPICS
Introduction to ethics, BE and CSR.
General introduction to BE and CSR and corruption.
Best practices + management and leadership + written exam.
Application to field of study.
Student cases (presentations).
ELEMENTS OF GRADE
*Additional elements:
1. written response to the case of other groups (1 page text) (5%)
2. active participation in discussions (5%)
3. preparing a short power point presentation (10 min) on free subjects (5%)
4. preparing a small case study according to daily business newspapers or TV/Internet
reports (5%)
LITERATURE
1. Marcoux A. 2008 Business Ethics, Stanford Encyclopedia of Philosophy
(plato.stanford.edu) (15 pp.).
2. Jeurissen R. 2007 (ed.) Ethics & Business, Van Gorcum, Aasen (276 pp.).
3. Bowie N. E. 2001 (ed.) „The Blackwell Guide to Business Ethics“, Blackwell, Oxford.
4. Carroll A. B. Buchholtz A. K. 2003 Business & Society, Ethics and Stakeholder
Management, Thomson, South-Western, Manson, Ohio.
Final Grade Components: Percentage: Written case 25% Case presentation 25% Written or oral exam 50% Total 100%
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1st Semester MBA (March -July)
5. Frederick R. E. 2002 (ed.) „A Companion to Business Ethics“, Blackwell, Oxford.
6. Fritzsche D. J. 2005 Business Ethics, Irwin McGraw-Hill, Boston.
7. Hoffman W. M., Frederick R. E., Schwartz M. S. (eds.) 2001 „Business Ethics:
Readings and Cases in Corporate Morality“, Irwin McGraw-Hill, Boston.
8. Jeurissen R. 2007 (ed.) „Ethics & Business“, Van Gorcum, Assen.
9. LaRue Tone H. 2003 The Ethics of Management, Irwin McGraw-Hill, Boston.
10. Velasquez M. G. 1992 „Business Ethics: Concepts and Cases“, Englewood Cliffs, NJ:
Prentice Hall.
11. Verhane P. H., Freeman R. E. (eds.) 1997 „The Blackwell Encyclopaedic Dictionary of
Business Ethics“, Blackwell, Oxford.
12. Focus on the specialization .
Focus on management and HRM
1. Allinson R. E. 2005 Saving Human Lives, Springer Verlag, Berlin, Heidelberg.
2. Zimmerli W. Ch., Richter K., Holzinger M. (eds.) Corporate Ethics and Corporate
Governance, Springer Verlag, Berlin, Heidelberg.
3. Muhr, S. L., Sørensen B. M. Vallentin S. (eds.) 2010 Ethics and Organizational
Practice, Questioning the Moral Foundations of Management, Edward Elgar
Publishing, Cheltenham, UK.
Focus on marketing
1. Brenkert, George G. (2008) Marketing Ethics, John Wiley and Sons.
2. Davidson, D. Kirk (2002) The Moral Dimension of Marketing: Essays on Business
Ethics South-Western Educational Murphy, Patrick E.; Gene R. Laczniak, Norman E.
Bowie (2004) Ethical Marketing Prentice Hall.
Focus on finance, banking, accounting and auditing
1. Armstrong M. B. (2001) Ethical issues in accounting, in: N. E. Bowie (ed.) The
Blackwell Guide to Business Ethics, eISBN: 9780631221234, 2001.
2. Boatright J. R. (2002) Finance ethics, in: R. E. Frederick (ed.), A Companion to
Business Ethics, eISBN: 9780631201304, 2002.
3. McPhail K. and Walters D. (2009) Accounting & Business Ethics, Routledge, London.
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1st Semester MBA (March -July)
(IT627) Business Intelligence Application (ECTS 5)
During the recent years, fast changes in the economic environment and massive
technological developments in the field of information technology have introduced
challenges for many business organizations. The growing capabilities to collect and store
large amounts of internal and external data make it increasingly difficult for management
to make better decisions consistent with the data. To address information overload,
companies are utilizing a variety of analytic concepts and tools that over the years have
assumed the label "Business Intelligence." Business Intelligence (BI) refers to technologies,
applications and practices for the collection, integration, analysis, and presentation of
business information. Business intelligence is used to improve decision making, enhance
strategic position, and sustain competitive advantage.
COURSE OBJECTIVES
The objective of this course is to enhance the student's understanding of how data
warehousing/business intelligence (DW/BI) systems are modeled, designed, developed
and implemented in companies. This objective will be achieved through the introduction of
new concepts and practices that are critically important to world class business
intelligence professionals. The concepts will be practiced by using real world software
solutions. The core technical knowledge explored in this course is the multidimensional
online analytical processing (OLAP) technology, with its multidimensional cube
representation.
CLASS HOURS
Lectures 20hours (10 days*2 hours) 5 hours (online lectures)
Exercises 20 hours (10 days*2 hours) Total 45 hours
TOPICS
Introduction to DW/BI; DW/BI technical architecture.
Applied data mining using Excel.
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1st Semester MBA (March -July)
Data mining concepts and DMX.
SQL server data mining.
Implementing a data mining process.
Data mining algorithms.
Mining OLAP cubes.
Data mining with SQL server integration services.
Data mining security and ethical issues.
ELEMENTS OF GRADE
*Additional points:
Student activity 5-10%
Research work 5-10%
Programming assignment 10-15%
LITERATURE
1. Data Mining with SQL Server 2008. Tang and MacLennan, Wiley Publishing. ISBN
978-0470277744.
2. Basic literature consists of Power Point presentations, which students can find on
Blackboard in directory lectures. All lectures also have a video format.
3. Data Mining Techniques: For Marketing, Sales, and Customer Relationship
Management, 3rd Edition, Gordon Linoff and Michael Berry, 2011, Wiley, ISBN:
0470650931.
4. Delivering Business Intelligence with Microsoft SQL Server 2012, 3rd edition, Brian
Larson, 2012, McGraw Hill, ISBN: 978-0-07-175939-7.
Final Grade Components: Percentage: Student presentation 10% Mid-term exam 15% Case study work 35%
Individual assignment 40% Total 100%
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1st Semester MBA (March -July)
5. Business Intelligence a Managerial Approach, by Turban et al. Pearson/Prentice
Hall. ISBN 978-0-13-234761-7.
6. On line books: http://safari.informit.com/
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1st Semester MBA (March -July)
(MK785) CONSUMER BEHAVIOR (ECTS 5)
This is the course involving a broad understanding of consume behavior, since successful
marketing means profound orientation towards understanding and meeting consumers'
needs. A lot of products and services have failed because companies haven't understood
consumers' needs and restrictions, although the customers are those actually expected to
use a product or a service. The course has been aimed at consumer preferences, in order to
understand the way they are shaped and to find out whether products and services can
properly meet expressed and tacit preferences. The objective of the course is to develop
students' skills when analyzing, researching and selecting best marketing strategies, using
current theory and data relevant for the consumer's behavior (from psychological and
economic point of view, including other social sciences) and to introduce them to main
variables for decision making process in marketing.
COURSE OBJECTIVES
The objective of the course is to develop students’ skills for researching, analyzing, and
selecting the best marketing strategies, using current theory and data relevant for the
intended consumer’s behavior. This will be from the psychological and economic points of
view and to introduce the main variables for the decision making process in marketing.
CLASS HOURS
Lectures 40 hours Total 40 hours
TOPICS
Introduction to consumer behavior.
Segmentation.
Branding.
Reference groups.
Consumer decision making.
Consumer perception.
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1st Semester MBA (March -July)
Consumer learning.
Attitude formation and change.
Gift giving.
Persuasion.
ELEMENTS OF GRADE
LITERATURE
1. (CB) Consumer Behaviour: A European Outlook (2008), Leon G. Shiffman, Leslie
LazaraKanuk and Havard Hansen, FT Financial Times Prentice Hall, Essex, England.
2. Power Point Slides.
3. Exercises, Readings and Cases in order of Notes Package
Homework #1) Homework # 1 - Flat and Shopping, Daniel D. Butler
Class Activity # 1 - Lifetime Value of A Customer.xls, Excel File
Class Activity # 2 - Information Display Board
Reading - Perception and Memory and Attitudes (2002), Boyd, Harper W., Jr.,
Walker, Orville C., Jr., Mullins, John W., and Larreche, Jean-Claude, Marketing
Management: A Strategic Decision-Making Approach (4thed), pages 124-
128,McGraw-Hill Irwin, Boston
Reading - Moving “Customer Satisfaction: From A Slogan To A Science, Gale B.
Wood (1994), in Managing Customer Value: Creating Quality and Service
That Customers Can See, Free Press, New York
Class Activity #3 - Customer Value Map.xls, Excel File
Reading - Attitudes in Consumer Behaviour
Final Grade Components: Percentage: Homework 20% Class participation (case and activities) 20% Exam/projects 50% Total 100%
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1st Semester MBA (March -July)
(AC653) DIRECT TAXES IN CROATIA (ECTS 5)
The aim of this course is to familiarize students with the tax system in Croatia, based on
direct taxes. For these purposes, students will be thoroughly familiar with the operation of
the system of taxation through income tax and corporate income tax. When it comes to
income taxes students will be familiar with all features of the income tax. For this purpose,
it will be discussed about the type and manner of their income tax, about wages that are
considered as income, tax base, taxing residents and nonresidents in Croatia, and more.
When it comes to corporate income taxes, students will be familiar with the principles of
taxation based upon different business events.
COURSE OBJECTIVES
The course primarily aims at giving the students basic knowledge in the area of taxes and
tax system of the Republic of Croatia with special emphasis on the direct taxes. Students
will also get acquainted with accounting aspect of legal regulations and norms in field of
public finance. Students will study regulatory rules for calculation and collection of direct
taxes and their implications on accounting reports, first of all on balance sheet and income
statement. Attention will be focused on profit tax and income tax as the most important
direct taxes.
CLASS HOURS
Lectures 40 hours Total 40 hours
TOPICS
Public finance. Public income and public expenses. Types of public income. Taxes in
general. Tax characteristics. Principles of taxation. Tax system. Criteria for tax
division. Attributes of direct taxes. Tax terminology. Proportional, degressive and
progressive tax rate. Direct taxes in tax system of Croatia.
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1st Semester MBA (March -July)
Income tax prepayments within year for various types of income. Tax loss and tax
loss carried over. Facilities and incentives. Tax facility for Croatian war disabled
persons. Facilities and exemptions in areas of special state care. Tax incentives for
employment. Incentives for research and development. Tax facilities for education
expenses. Lump sum taxation. Registry for income tax obliged persons. Reporting
obligations.
International agreement od double taxation avoidance - OECD model of agreement.
Resident determination. Income taxation from dependant labour of non-residents
working in Croatia. Income payments to non-residents. Receipts of residents from
abroad. Property income. Author honorarium, management board member income,
income of professors and teachers, sportsmen, students and other income that are
subject to international agreements. Models for appliance of international
agreements. Income tax payed in foreign country and annual income tax application.
Items for tax base deduction. Profit tax - distinction between accounting profit and
tax base. Temporary differences, deferred tax assets and deferred tax liabilities.
Defining profit tax base. Items that enlarge tax base. Interest on credits to
shareholders and corporation members. Value adjustment and write off for
receivables. Valute adjustment for stocks and for financial assets. Expenses from
provisions. Expenses from depreciation.
Income from independent activity. Income from property and property rights.
Income from capital. Taxation of income from insurance. Taxation for other income.
Practical examples of calculation of income for task and income for author
honorarium. Annual income tax application for other types of income.
Taxation of certain income types. Defining of receipts and dibursements accourding
to cash principle. Tax acknowledged disbursements with certain income types.
Income from dependant labour in cash and in nature. Annual income tax application
for income on dependent labour. Obligatory and voluntary annual tax application.
Income tax. Obliged persons for income tax. Residents and non-residents. Receipts
that are not considered as income. Receipts that are not subject to income tax.
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1st Semester MBA (March -July)
Personal tax exemptions. Income types. Tax base and tax period. Personal
deduction. Tax rates. Surtax on income tax. Income tax belonging.
Practical examples of calculation and application of income tax - case study.
State allowance for education and for research and development. Facilities and
exemptions for taxpayers in area of special state care, mountain area and in town
Vukovar. Profit payed in advance. Defining of prepayments. Tax loss. Tax loss
carried over. Profit tax payed in substraction. Tax facilities according to Act on
investment incentives.
Practical example of profit tax application.
Practical case studies for PD form.
Repetition and preparation for the exam.
ELEMENTS OF GRADE
LITERATURE
1. Act and rulebook on profit tax and on income tax (Zakon i pravilnik o porezu na
dobit i porezu na dohodak), Narodne novine.
2. Taxes - Ministry of Finance judgements and court practice (Porezi - mišljenja
Ministarstva financija i sudska praksa).
3. Presentation of lectures, additional materials.
Final Grade Components: Percentage: Written exam 100% Total 100%
14
1st Semester MBA (March -July)
(IT640) ELECTRONIC BUSINESS MANAGEMENT (ECTS 5)
The course will primarily focus on e-business technologies and cases relevant to the big
picture if today’s e-business. We will focus on main milestones events in e-business close
history and present days with analysis of main stories. Students will have opportunity to
discuss large number of the cases of success and failure. Course will be heavily oriented
towards practical implementations of web applications for e-business. In the end of the
course students will gain basic practical knowledge for development of their own e-
business ideas.
COURSE OBJECTIVES
The course objectives are to teach students to understand technological concepts of
Internet, World Wide Web and Web 2.0 applications, to teach students to use different
programs and tools for realization of e-business project, to analyze and understand main
trends in e-business, to create e-business plan, to monitor and participate on global world
market by using ICT and prepare students for lifelong learning.
CLASS HOURS
Lectures 20 hours (10*2 hours) Student presentations 2 hours Computer practice 16 hours Project presentations 2 hours Total 40 hours
TOPICS
Introduction, Internet and WWW.
E-business infrastructure, Web and Internet services and applications.
Cloud computing and E-business.
E-business applications: CMS.
E-business applications: customer relationship and enterprise resource planning
systems.
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1st Semester MBA (March -July)
Communication systems: VoIP, E-mail and media servers, Web and video
conferencing.
Gaming, virtual worlds, e-commerce B2B and B2C.
Internet shops, supply chain management, online marketing and offline marketing.
E-business models and strategies.
Security and ethics in e-business.
ELEMENTS OF GRADE
*Additional points:
Working/starting complex web project 10%
Helping others in BB forum 3%
Posting and argumenting articles on innovations in the field of e-business 5%
Using new tools/technology/skills 5%
LITERATURE
1. E-Business and E-Commerce Management, Strategy, Implementation and Practice
5th Edition: Dave Chaffey, 2011.
2. eBusiness&eCommerce: Andreas Meier and Henrik Stormer, 2008.
3. R. E. Kennedy, A. Sharma: Premještanje usluga, Mate 2010.
Final Grade Components: Percentage: Student class activity 20% Case studies 20% Student project presentation 60% Total 100%
16
1st Semester MBA (March -July)
(FN552) FINANCIAL MANAGEMENT (ECTS 9)
The course is divided into several basic units of crucial importance to financial management such
as: basic theoretical concepts of modern finance, valuation and return on investment in securities,
portfolio risk securities, valuation of debt and equity options, the theory of capital structure, and
analysis of value creation within the company (NPV, IRR, PBP, WACC, EPS ...) etc. In modern
financial theory this course is dealing with modern analysis of corporate securities in the primary
and secondary capital markets and financial strategies.
COURSE OBJECTIVES
The course consists of a few basic sections of key importance for Financial management like: basic
theoretical concepts of modern finance; rate of return and stock evaluation; portfolio risk
management; options evaluation; capital structure theory; value creation theory (FCF, NPV, IRR,
PBP, WACC, EPS...) etc.
CLASS HOURS
Lectures 15 lectures* 4hours Total 60 hours
TOPICS
Introduction to financial management, case study.
Time value of money, case study.
Stock valuation, case study.
Risk and return.
Bond valuation, case study.
Techniques for measuring investment profitability, case study.
Optimal capital structure decisions, case study.
Financial reports analysis, case study.
Fundamentals of short and long term financial planning, case study.
Company valuation and financial modeling, case study.
Market efficiency.
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1st Semester MBA (March -July)
Ethic in finance.
Company finance policy.
ELEMENTS OF GRADE
Final Grade Components: Percentage: Final exam 100% Participation 10% Total 110%
LITERATURE
1. Brealey, Myers, Marcus: Fundamentals of Corporate Finance, McGraw-Hill (5th edition,
2007) (“BMM”).
2. Van Horne, Wachowicz Jr. :Osnove financijskog menadžmenta, (9th. edition, Mate).
3. Van Horne: Financijsko upravljanje i politika, 9. izdanje, Mate.
4. Narayanan M. P. i NandaVikram K. : Financije za strateškoo dlučivanje, Mate, 2007.
5. Corporate finance Jonathan Berki Peter De Marzo, Pearson.
6. Financial Management Raymond Am. Brooks, Pearson.
7. Financial Management Sheridan Titman, Arthur aj. Keowni John d. Martin, Pearson.
8. Blackboard.
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1st Semester MBA (March -July)
(MT621) FINANCIAL MATHEMATICS 2 ( ECTS 2)
The aim of this course is to acquire basic theoretical knowledge related to financial intermediation
through transferable financial instruments, which serves as a basis for understanding modern
finance and the problems that arise in this context and which should make rational decisions.
Through the acquired knowledge of all basic types of debt instruments and derivatives and their
valuation in financial markets, students will gain the ability to understand quantitative aspects of
the functioning of modern financial markets and a mathematical foundation for building a business
strategy for them.
COURSE OBJECTIVES
The main goal of the course is to learn different systems of financial intermediation, intermediation
elements and mathematical techniques that are used in market valuation of debtors' financial
instruments and selected types of derivatives. Besides developing quantitative approach to
business and financial problems, this course enables students to recognize structure in a financial
system, classification of financial instruments from the perspective of their role in financial
intermediation and from the perspective of different combination of their economic and
mathematical characteristics, to differ contract and market elements in valuation of financial
instruments and to learn market valuation of debtors' financial instruments in detail.
CLASS HOURS
Lectures 28hours Exercises 12hours Total 40 hours
TOPICS
Financial intermediation.
Zero coupon bonds.
Coupon bonds.
Bonds quotation – Case study: US Treasury Bonds Quotation.
Yield curve and hedging.
Bonds’ portfolio yield measures.
Derivatives and corporate bonds.
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1st Semester MBA (March -July)
ELEMENTS OF GRADE
Final Grade Components: Percentage: Written exam 50% Oral exam 50% Total 100% OR
Final Grade Components: Percentage: Written exam 50% Oral presentation 50% Total 100%
LITERATURE
1. BB materials.
2. B. Gruić, I. Jemrić, I. Šutalo, H. Volarević: “Mathematics for ecnomists and managers”, ZŠEM i
Mate d.o.o. 2006.
3. Z. Bodie, A. Kane, A.J. Marcus: “Investments”, ZŠEM i Mate d.o.o. 2006.
4. J. Cvitanić, F. Zapatero: “Introduction to the Economics and Mathematics of Financial
Markets”, MIT Press, 2004.
5. The handbook of fixed income securities, Frank J. Fabozzi, Irwin professional publishing,
1997.
6. Financial modelling, Zdravka Aljinović, Branka Marasović, Boško Šego, Zagreb,
Zgombić&Partneri, 2008.
7. Fundamentals of Futures and Options Markets, John C. Hull, Pearson Prentice Hall, 2008.
20
1st Semester MBA (March -July)
(AC527) FINANCIAL REPORTING (ECTS 6)
The aim of the course is to analyze the application of the International Financial Reporting
Standards (IFRSs) through selected case studies. Students will be presented the regulatory
framework for financial reporting in the EU and Croatia based on regulations and
international standards. The content and structure of the IFRS will be historically reviewed.
Special attention will be given to the formulation of the accounting policy in the areas of
recognition and measurement of accounting categories as well as of publishing in the
accounting reports pursuant to the IFRS.
COURSE OBJECTIVES
The course primarily aims at learning about the role and importance of IAS / IFRS in
process of financial reporting with reference to appropriate accounting procedures of
recognition, initial and subsequent measurement of the elements of financial statements
and adequate requirements for presentation and publication. Students will also get
acquainted with impact that business decisions have on value of assets, liabilities and
equity of business entity that is on its business results and financial position. The emphasis
is put on solving case studies using critical and analytical thinking and on acquiring
practical knowledge about the importance and influence of International Financial
Reporting Standards (IFRS) on the process of financial reporting. Financial reports
prepared in accordance with IFRS are the base for fair and truthful financial statements
presentation of business success, financial position and changes in financial positions of the
entity for the purpose of external users, financial market participants. Students should
understand the importance of ethics in financial reporting.
CLASS HOURS
Lectures 40 hours Total 40 hours
TOPICS
Financial reporting.
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1st Semester MBA (March -July)
Long term asset – tangible and intangible assets.
Property investment and lease.
Financial asset.
Short term asset.
Equity and long term reservations.
Income, expenses and profit.
Financial statements.
Business combinations.
Preparations for the exam.
ELEMENTS OF GRADE
LITERATURE
1. International Financial Reporting Standards (Međunarodni standardi financijskog
izvještavanja), Narodne novine br. 136/2009.
2. Act on the Accounting (Zakon o računovodstvu), Narodne novine br. 109/2007.
3. Hennie Van Greuning, International Financial Reporting Standards: A Practical
Guide (Međunarodni standardi financijskog izvješćivanja: Praktični vodič), MATE,
Zagreb, 2006.
4. Presentation of lectures, additional materials.
Final Grade Components: Percentage: Written exam 100% Total 100%
22
1st Semester MBA (March -July)
(AC517) FINANCIAL STATEMENT ANALYSIS (ECTS 5)
The course is primarily focused on acquiring basic concepts for interpretation of financial
reports as a ground for business decision-making process at management level. The course
is especially concerned with the static analysis of financial statements (balance sheet,
income statement and cash flow statement), and dynamic analysis of the future cash flows
of the investment projects. It emphasizes the valuation of debtor's instruments and capital,
based on internationally adopted standards.
COURSE OBJECTIVES
The course “Financial Statements Analysis” is primarily aimed at the adoption of the basic
concepts of financial statement analysis and the interpretation of different financial ratios
for different groups of users of information (lenders, investors, managers, etc.), i.e. as a
basis for making daily operational decisions. Also, there is an emphasis on the use of
financial information for strategic decision making, and to recognize the warning signs of
possible problems in the future. Lectures are enriched with numerous exercises and
problem-oriented case studies. The students will be introduced to methods and analytical
techniques used by financial regulators for the direct and indirect supervision of financial
institutions.
CLASS HOURS
Lectures 20 hours Exercises 20 hours Total 40 hours
TOPICS
Syllabus, Connection between basic financial statements.
Introduction into horizontal, vertical and trend analysis.
Balance Sheet and the Income Statement (Part I).
Balance Sheet and the Income Statement (Part II).
Preparing a statement of Cash Flow.
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1st Semester MBA (March -July)
The Capital Budgeting System.
Analysis methods to evaluate investment projects (NPV, IRR, PI, PBP, ARR).
WACC.
Analysis of financial statements of credit institutions (capital adequacy ratio and
limitation on credit institutions).
ELEMENTS OF GRADE
LITERATURE
1. Analysis for Financial Management; Robert C. Higgins; 2008, 10th Edition,
Irwin/McGraw-Hill, USA.
2. Lectures (PowerPoint materials) on Blackboard.
3. Problem Solving Exercises and Case-Studies (Excel, PowerPoint, and Word
materials) on Blackboard.
Final Grade Components: Percentage: Oral Presentation 70% Active class participation 20% Attendance 10% Total 100%
24
1st Semester MBA (March -July)
(AC528) FINANCIAL STATEMENT AUDIT (ECTS 6)
Auditing course is designed to provide the student with all aspects of auditing profession
and modern trends in auditing in the world, in the European Union and in the Republic of
Croatia. This course will provide students with knowledge in the field of internal and
external auditing, and the application of International Standards on Auditing and the code
of professional ethics for auditors. The students will learn about the audit process,
including the final completion of audit and the formulation of audit report. This course
provides the student with the knowledge on the role of auditors, the importance of audit
committees and internal control. The students will learn about the current challenges in
auditing profession (in the world and in the Republic of Croatia), and about the future
trends in the world that are affecting financial reporting and auditing.
COURSE OBJECTIVES
The course Financial Statement Audit is designed to provide the student with a thorough
introduction to auditing profession and modern trends in auditing in the world, in the
European Union and in the Republic of Croatia. This course will cover financial statements
audit, and the application of International Standards on Auditing and the Code of
professional ethics for auditors. The students will learn about the audit process, including
the final completion of audit and the formulation of audit report. This course provides the
student with the knowledge on the role of auditors, the importance of audit committees
and internal control.
CLASS HOURS
Lectures 30 hours Practical work 10 hours Total 40 hours
TOPICS
Introduction to auditing.
Financial statements audit process.
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1st Semester MBA (March -July)
Challenges for the audit profession.
ELEMENTS OF GRADE
LITERATURE
1. Soltani, B.: Revizija – međunarodni pristup, prijevod s engleskog jezika, MATE,
Zagreb, 2010.
2. Materials posted on Blackboard.
3. Auditing Act (Zakon o reviziji, NN br. 146. Od 12.12.2005.).
4. Act on the changes of the Auditing Act (Zakon o izmjenama I dopunama Zakona o
reviziji, NN br. 139. od 03.12.2008.).
5. International Standards on Auditing.
6. Code of Ethics for Professional Accountants.
7. Croatian Audit Chamber (Hrvatska revizorska komora) - International Standards on
Auditing, Code of Ethics for Professional Accountants.
8. Narodne novine (Auditing Act, Act on the changes of the Auditing Act).
Final Grade Components: Percentage: Participation in class 20% Individual paper 10% Questionnaire on ethics 10% Written exam 60% Total 100%
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1st Semester MBA (March -July)
(IT631) INFORMATION SECURITY (ECTS 5)
Information technology has enabled organizations to work more efficiently. However, with
all its advantages, security risks and threats to confidentiality, integrity and information
accessibility have also appeared. In order to protect information sources, it is necessary to
identify and be able to handle the threats. Threats can be various; going from a human
mistake to theft, vandalism, computer crime, natural catastrophes, and many others.
COURSE OBJECTIVES
The students will be able to identify the problems of ethics and corporate social
responsibility, as well as forecast costs and benefits related to a company’s business
related to technology (homework). The students will study different literature from the
field of Information Security. They will link theoretical knowledge with real business cases.
When they face a business problem, in order to solve it, they will apply adequate methods,
coming from different fields of a chosen discipline. Students will be able to understand
general information security concepts, understand what are common threats and types of
attacks and attackers in a digital environment, understand the importance of security
standards and relevant legislation, understand technical aspects of information security,
understand the basics of protecting e-business (exam).
CLASS HOURS
Lectures 20 hours (10 days*2 hours) 5 hours (online lectures)
Exercises 20 hours (10 days*2 hours) Total 45 hours
TOPICS
What is information security and why it is important in business information
systems.
Digital threats.
Type of attacks.
Attackers.
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1st Semester MBA (March -July)
Risk management basics.
Identification of resources.
Identification of threats.
Identification of vulnerabilities.
Impact assessment.
Risk assessment.
Security measures.
Documentation.
Standards and legislation.
Business continuity management.
Network protection.
Information system protection.
Application protection.
Data protection (storage, backup, archiving, databases).
Cryptography.
Vulnerabilities testing.
PKI infrastructure.
Certificates.
Concluding lecture.
ELEMENTS OF GRADE
Final Grade Components: Percentage: Class participation & attendance 5% Homework 25% Mid-term exam 25%
Final exam 25%
Case study 20%
Total 100%
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1st Semester MBA (March -July)
LITERATURE
1. Secrets & Lies, Digital Security in a Networked World; Bruce Schneier (John Wiley &
Sons, 2000 ISBN 0-471-25311-1 ).
2. CompTIASecuity + Deluxe Study Guide; Emmet Dulaney; Wiley Publishing Inc.,
2009. (ISBN: 978-0-470-37296-8).
3. Blackboard:Lecture handouts, presentations, case studies, questions for discussion.
29
1st Semester MBA (March -July)
(SC999) INTERNATIONAL AND EU TAX LAW (ECTS 5)
To successfully manage your private and business assets you need to know how much the
state will charge you for it. If you want to work on the boards of multinational companies
and be "a citizen of the world" you need to know how taxation of top managers is regulated.
We will examine the basis of taxation for say a chalet that you might have in Switzerland or
your dividends in a foreign joint stock company. You might have a company with branches
all over the world or shares in foreign companies all of which can be subject to taxation in
several countries.
COURSE OBJECTIVES
The main objective of the course is to raise students' awareness of the impact of legal rules
and their relevance for everyday life and business. We especially emphasize that legal
framework is a part of a common macroeconomic environment and therefore influences
directly business processes and achieved results. Therefore it is necessary to introduce
students to rules and legal requirements with which they will meet in their future work
and business and possible issues that can occur, as well as offer them a perspective on how
to fix them.
CLASS HOURS
Lectures 40 hours Total 40 hours
TOPICS
Introduction to the OECD Model Convention, basic concepts of limited and unlimited
tax liabilities.
Introductory provisions of the OECD Model Convention.
Hypothetical case (students will apply the provision of OECD Model Convention
concerning the taxation of real estates).
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1st Semester MBA (March -July)
Hypothetical case (students will apply OECD Model Convention on provisions on
taxation of dividends, interest and income from capital).
Transfer pricing.
Corporate income.
The concept of "dealing at arms length" in terms of taxation of legal persons.
Methods of avoidance of double taxation.
The basic elements of the tax law of European Union.
EU Directive on taxation of parent companies and their subsidiaries, Analisys of the
case law of the Court of Justice of the EU - Denkavit (C-283/94), Epson (C-375/98),
Anthinaiki Zythopoiia (C-294/99), Bosal (C-168/01), Oce (C-58/01).
EU Directive on taxation applicable to mergers, Relevant case law of the Court of
Justice of the EU will be discussed - Leur-Bloem (C-28/95), Andersen & Jensen ApS
(C-43/00), SEVIC (C-411/03), Kofoed (C-325/05).
Future changes in EU law and introduction of automatic information exchange
concerning bank account balances.
Taxation of intellectual property in Member States.
Students prepare short presentations of the most important cases of the Court of
Justice of the EU.
ELEMENTS OF GRADE
LITERATURE
1. Osnove međunarodnog poreznog prava', Olivera Lončarić-Horvat i Hrvoje Arbutina,
Narodne Novine, Zagreb 2007.
2. OECD Model Tax Convention on Income and Capital with commentary.
Final Grade Components: Percentage: Class attendance 20% Written and/or oral exam 70% Term paper or additional activities 10%
Total 100%
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1st Semester MBA (March -July)
3. COUNCIL DIRECTIVE 2009/133/EC of 19 October 2009 on the common system of
taxation applicable to mergers, divisions, partial divisions, transfers of assets and
exchanges of shares concerning companies of different Member States and to the
transfer of the registered office of an SE or SCE between Member States EU.
4. COUNCIL DIRECTIVE 2003/48/EC of 3 June 2003 on taxation of savings income in
the form of interest payments.
5. COUNCIL DIRECTIVE 2011/96/EU of 30 November 2011 on the common system of
taxation applicable in the case of parent companies and subsidiaries of different
Member States.
6. COUNCIL DIRECTIVE 2003/48/EC of 3 June 2003 on taxation of savings income in
the form of interest payments .
7. EU Court of Justice case law - Denkavit (C-283/94), Epson (C-375/98), Anthinaiki
Zythopoiia (C-294/99), Bosal (C-168/01), Oce (C-58/01), Leur-Bloem (C-28/95),
Andersen & Jensen ApS (C-43/00), SEVIC (C-411/03), Kofoed (C-325/05),
Commission v France (270/83), Daily Mail (81/87), Biehl (175/88), Werner (C-
112/91),
Schumacker (C-279/93), Commerzbank AG (C-330/91), Saint
Gobain (C-307/97), Verkooijen (C-35/98), Lenz (C-315/02), FII (C-446/04), Burda
(C-284/06), Marks&Spencer (C-446/03), Columbus (C-298/05), NV Lammersi dr.
(C-105/07).
8. 'Model ugovora o izbjegavanju dvostrukog oporezivanja s komentarom', urednice
Marica Houška, Tajana Vrban, Porezni Vjesnik, Zagreb 2011.
9. 'Materials on International and EU Tax Law 2011-2012', Kees Van Raad (ed),
Volumes 1 & 2, Leiden 2011.
10. 'Jedan napor za postignuće harmonizacije oporezivanja dobiti u Europskoj Uniji:
direktiva o matičnom I zavisnom društvu', Hrvoje Arbutina, Godišnjak Akademije
pravnih znanosti Hrvatske, Vol.1 No.1 Prosinac 2010.
11. Porezna uprava – www.porezna-uprava.hr
12. Ugovori o izbjegavanju dvostrukog oporezivanja -http://www.porezna-
uprava.hr/propisi/u_sklopljeni.asp?id=b04d2
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1st Semester MBA (March -July)
13. Narodne novine – www.nn.hr
14. EU Court of Justice – www.curia.eu
15. OECD – www.oecd.org
Model Tax Convention on Income and Capital –
http://www.oecd.org/tax/taxtreaties/oecdmodeltaxconventiononincomeandoncapital-
anoverviewofavailableproducts.htm
33
1st Semester MBA (March -July)
(EC533) INTRODUCTION TO FINANCIAL ECONOMETRICS (ECTS 2)
Financial econometrics is the econometrics applied to time sequence series of variables in financial
markets: in particular, value of securities and their return. Most of the available financial data
represents a time sequence, and accordingly, financial econometrics is mainly econometrics of time
sequences. This subject will provide an overview of the financial data features, in an attempt to
introduce a framework model for this process.
COURSE OBJECTIVES
The main goal of this course is developing students' analytical thinking about financial variables by
teaching them how to identify and model special features of financial time series, and forecast their
future behavior using econometric methods and computer technologies.
CLASS HOURS
Lectures 10 hours Exercises 20 hours Total 30 hours
TOPICS
Introduction to financial econometrics – Classical linear regression.
Properties of CLR estimators, hypothesis testing.
Introduction to financial data and their analysis.
CAPM (Capital Asset Pricing Model).
CAPM and CLR – extensions and forecasting.
CAPM and CLR – relaxing the initial model assumptions.
Modeling and forecasting return volatility.
Value-at-Risk (VaR) analysis.
ELEMENTS OF GRADE
Final Grade Components: Percentage: Written presentation of knowledge 40% Critical and analytical thinking 40% Presentation of advanced use of IT 20% Total 100%
34
1st Semester MBA (March -July)
LITERATURE
1. C. Brooks (2002.), Introductory Econometrics for Finance, Cambridge University Press.
2. J. Kmenta (1997.) Poc ela ekonometrije, second edition, Mate, Zagreb.
3. W. Greene (2003.), Econometric Analysis, Prentice Hall, 5th Edition.
4. J.H. Cochrane (2001.), Asset pricing, Princeton University Press, NJ.
5. BlackBoard.
6. J.Y. Campbell, A.W. Lo and A.C. MacKinlay (1997.) The Econometrics of Financial Markets,
Princeton University Press, NJ.
7. J.D. Hamilton (1994.), Time series analysis, Princeton University Press, NJ.
35
1st Semester MBA (March -July)
(MN610) LEADERSHIP (ECTS 4)
Various types of leadership are crucial for the survival of any given organization. With
practical examples and role playing, this course places an emphasis on motivation,
understanding, interpersonal relationships, and models of communication, change
management, listening skills, team work, conflict solution, negotiating, time management,
goal setting and organizational values.
COURSE OBJECTIVES
The students will study different literature from the general filed of leadership and
management. They will link theoretical knowledge with real business cases. They will apply
leadership theories to address and solve real-life business problems, drawing from various
aspects of leadership and management. And they will make classroom presentations about
the strengths and weaknesses of various leadership approaches. The students will study
leadership and management literature and thus acquire necessary knowledge that will help
them complete their homework, pass their exams, make classroom presentations, exercise
in role plays.
CLASS HOURS
Lectures 12 hours Classroom exercises 20 hours Total 32 hours
TOPICS
Introduction.
Trait approach to leadership.
Skills approach to leadership.
Style approach to leadership.
Situational approach to leadership.
Contingency theory.
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1st Semester MBA (March -July)
Path-goal theory.
Leader-member exchange theory.
Transformational leadership.
Conversation probes.
Deep interviews.
Servant leadership.
Exercises in leadership.
ELEMENTS OF GRADE
OR
LITERATURE
1. Northouse, P.G. (2010) Leadership Theory and Practice Sixth Edition. Sage.
2. Barbuto, J. E. (1997). Taking the charisma out of transformational leadership,
Journal of Social Behavior and Personality 12 (3), 689-697.
3. Bass, B. M. (1990). From Transactional to Transformational Leadership: Learning to
Share the Vision. Organizational Dynamics, 18(3), 19-31.
4. Blake, R. R. & Mouton, J. S. (1982). How to choose a leadership style. Training and
Development Journal, February 1982.
5. French, R.P. Jr. & Raven, B. (1959). The bases of social power. In D. Cartwright
(Ed.),Studies in Social Power , 150-167. Ann Arbor: University of Michigan Press.
Final Grade Components: Percentage: Attendance 40% Leadership Exercises 20% Final Exam 40% Total 100%
Final Grade Components: Percentage: Final Exam 40% Critical Essay 60% Total 100%
37
1st Semester MBA (March -July)
6. Greenleaf, R. K. (1970). Servant as leader. From The servant leader within: The
transformational path. Mahwah, NJ: Paulist Press.
7. Heifitz, R.A & Laurie, D. L. (1997). The work of leadership. Harvard Business
Review. 75(1), 124-34.
8. Kotter, J.P. (1995). What leaders really do. In J. Wren, (Ed.), The leaders companion:
Insights on leadership through the ages (p. 114). New York, NY: The Free Press.
9. Rost, J. C. (1991). Leadership and management. From Leadership for the twenty-
first century. New York: Praeger.
38
1st Semester MBA (March -July)
(MN564) MANAGEMENT OF CHANGE AND HUMAN RESOURCES (ECTS 5)
The first course, Management of Change and Human Resources, focuses on the micro
aspect of change, as well as psychological resistance to change. In this course, you will
cover the basic functions of human resource management by studying your own
organization, by working with other, and by completing a project. You will also engage in
an analysis of work places and job descriptions. The functions covered in this course
include: recruiting, selection and introduction to the workplace, employee training, etc.
COURSE OBJECTIVES
In their workplace, students will encounter and deal with ethical issues related to their
course projects. Peer groups will have the possibility to discuss specific real ethical issues
and help their peers find the most ethical solutions. After being presented with HRM
overview, students will deepen their HRM knowledge by examining more specialized topics
related to strategically critical HRM issues – employee selection, intrinsic motivation,
employee engagement, world-class best practices and HRM specific ethical issues.
CLASS HOURS
Contact hours 40 hours Total 40 hours
TOPICS
Syllabus.
HRM functions, preparation for project proposal.
HRM as a strategic approach, employee talent and drive as organizational
advantage.
World-class best practices on what makes a company a great place to work.
Intrinsic motivation as a driver for superior organizational performance.
Employee engagement and involvement as a strategic advantage.
Specific HRM ethical issues, research methods and topics for class paper.
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1st Semester MBA (March -July)
Student presentations, discussions.
ELEMENTS OF GRADE
OR
LITERATURE
1. Noe, R.A., Hollenbeck, J.R., Gerhart, J.R. i Wright, P.M. (2006). Menadžment ljudskih
potencijala: Postizanje konkurentske prednosti, (III. izdanje). Zagreb: Mate.
2. Marušić, S. (2006). Upravljanje ljudskim potencijalima (IV. izdanje). Zagreb: Adeco.
3. Richards, voice over power point slides on HRM overview.
4. Jim Collins’ video and audio presentations at
5. http://www.jimcollins.com/media_topics/first-who.html
6. Erickson, Tamara, “Who are the ‘right people’ on the bus?”, Harvard Business
Review Blog, Saturday May 9, 2009. Found at
http://blogs.hbr.org/erickson/2009/05/who_are_the_right_people_to_in.html.
7. Great Place To Work: http://www.greatplacetowork.net/.
8. Company web pages for Boehringer-Ingelheim, Gore, Cisco, Bain, Jones Lang LaSalle,
Richard Ellis, Twinings.
9. Csikszentmihalyi, M.
http://www.ted.com/talks/mihaly_csikszentmihalyi_on_flow.html.
10. Gladwell, M. http://www.youtube.com/watch?v=pIYUMwxKFzo&feature=related.
Final Grade Components: Percentage: In class participation 20% Research Paper 50% Class presentation 30% Total 100%
Final Grade Components: Percentage: Research Paper 60% Class presentation 40%
Total 100%
40
1st Semester MBA (March -July)
11. Pink, D. http://www.youtube.com/watch?v=u6XAPnuFjJc.
12. Article on Herzberg: http://knol.google.com/k/frederick-herzberg#.
13. Yugoslavian worker councils at
file:///Users/rr0043184/Desktop/zagreb%20hr%202012/Yugoslavia%20Worker
s%20self-management.html.
14. Johnsonville Inc., “Chasing Greatness”, THE NATIONAL PROVISIONER |
PROVISIONER ONLINE.COM | FEBRUARY 2007.
15. Sayer, R. “How I Learned to Let My Workers Lead”, Harvard Business Review
November-December 1990.
16. Skreblin, Korican, Richards HRM Ethics.
17. Students will be required to do their own research in their project area using Ebsco
Host and Emerald Insight database (access is available only on ZSEM Campus).
18. Students will also receive additional readings and material during the period of the
course as needed (most of materials will be available through BlackBoard).
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1st Semester MBA (March -July)
(MN570) MANAGERIAL TECHNIQUES (ECTS 3)
The course almost entirely focuses on practical exercises. It covers three of many different
management techniques: presentation, business negotiation and business decision-making.
In the first set of lectures, students will develop and hone their presentation skills. After
recording and analyzing their speeches, there are also exercises that include video-taping
and situation analysis. The second set of lectures will focus on important theoretical
concepts that will help our students understand the process of negotiation, as well as
enhance their negotiating skills. This all is followed by a series of exercises designed to
develop negotiating techniques (distributive and integrative negotiation, trust, equity,
personal styles, creativity, negotiating with multiple participants, etc). In the part dealing
with business decision-making, students will be introduced to intuitive, rational,
programmed and non-programmed, and interactive decision-making. Game theory and
value-added information in decision-making are all advanced topics that will be introduced
to students for the first time in the course of their studies.
COURSE OBJECTIVES
The aim of the course is to familiarize students with the basic knowledge of the functioning
of small groups in order to understand the processes in the team, the behavior of team
members, and team leadership. The goal is to develop presentation skills and work in
teams, strengthening interpersonall ,and communication skills particularly conflict
resolution as well as learn the process of observation and analysis of the team and
interpersonal behavior. Furthermore, the goal is also providing students with the
understanding of group dynamics within the interaction in small groups. Course provides
students with the possibility of reflection on their communication style and impact on
others in the team.
CLASS HOURS
Lectures 40 hours Total 40 hours
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1st Semester MBA (March -July)
ELEMENTS OF GRADE
OR
LITERATURE
1. Blackboard.
2. Tubbs, S.L. (2007). A systems approach to small group interaction. New York:
McGraw Hill.
3. Levi, D. (2011). Group dynamics for teams. Los Angeles/London: Sage.
4. Robbins, S.P. (1996). Bitni elementi organizacijskog ponašanja. Zagreb: Naklada
Mate.
5. Robbins, S.P. (2007). Organizational behavior. 12 th ed. New Jersey: Pearson
Prentice Hall.
6. Chapman, E., O'Neil, S.L. (2003). Vodstvo. Zagreb: Naklada Mate.
7. Stacey, R.D. (1997). Strateški menedžment i organizacijska dinamika. Zagreb:
Naklada Mate.
8. Weissman, J. (2006). Prezentacijom do uspjeha. Zagreb: Naklada Mate.
9. Brajša, P. (1993). Menađerskakomunikologija. Varaždin: Biblioteka informacijsko
društvo.
10. Brajša, P. (1997). 7 tajni uspješnog managementa. Zagreb: «Alinea».
11. Weissman, J. (2010). Najbolji prezenter. Zagreb:”Mate d.o.o”.
Final Grade Components: Percentage: Midterm 40% Active participating in a teamwork and the presentation 50% Attendance 10%
Total 100%
Final Grade Components: Percentage: Exam 80% Individual paper 10% Individual activity 10% Total 100%
43
1st Semester MBA (March -July)
12. Weissman, J. (2011). Presentation in action. New Jersay: „Pearson education”.
13. Jacks, A. (2011). Negotiation. London: Legend Business”.
14. Forsyth, P. (2011). Persuasion. London: „Legend Business”.
15. Varošanec-Škarić, G. (2005). Timbar. Zagreb, FF press.
16. Škarić, I. iVarošanec-Škarić, G. (1999). Vježbe za glas I izgovor. U. A. Bajc, K.
17. Qible, Z.K. (2010). Menadžment uredskog poslovanja. Zagreb:”Mated.o.o.
44
1st Semester MBA (March -July)
(MK584) MARKETING RESEARCH (ECTS 5)
Objective of this course is to teach students about problems and techniques to be used
during a market research, and enable them to collect information on their own, estimate
and use them efficiently when making business decisions. Students will learn how to
require a market research and how to evaluate and use the results. There will be also
discussions on how to plan, implement and analyze data and reports. The course is
primarily created for users, i.e. more for future marketing experts and less for specialists
dealing mostly with market research.
COURSE OBJECTIVES
Students will, perusing literature connected with Marketing Research, become familiar
with main concepts and economic interactions that pertain to following areas: research
design, defining the marketing research problem, secondary data sources, qualitative and
quantitative research approaches, sampling, etc. The students will discover problems and
offer possible solutions, as well as identify possible risks of a proposed solution. Through
the use of case examples and didactic lecture, students will have knowledge of the ethical
principles of research and appropriate codes of conduct in market research as identified by
ESOMAR and NIH.
CLASS HOURS
Lab 44 hours Total 44 hours
TOPICS
Introduction to marketing research, short quiz on statistics.
Defining the marketing research problem and developing a research approach.
Research design, secondary data collection and analysis, case.
Internal secondary data and the use of database, qualitative research, case.
Qualitative research: focus group discussions, case.
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1st Semester MBA (March -July)
Qualitative research: depth interviewing and projective techniques, data analysis,
survey and quantitative observation techniques, casual research design:
experimentation, case.
Measurement and scaling: fundamentals, comparative and non-comparative scaling,
case.
Questionnaire design, midterm exam.
Sampling: design and procedures, final and initial sample size determination, survey
fieldwork, case.
Data preparation, report preparation and presentation, final paper due.
Student presentations.
ELEMENTS OF GRADE
LITERATURE
1. Marketing Research: An Applied Approach, NareshMalhotra / David Birks, FT
Financial
Times, Prentice Hall, 2007.
2. Case Study: “Western Union Co: A Case for Global Expansion” (Case available at
http://www.globalens.com/casedetail.aspx?cid=1428773,
http://www.globalens.com/casedetail.aspx?cid=1428773)
3. Blackboard.
4. Kotler P. Keller K.: Marketing Management (13th edition), Prentice Hall, 2009.
5. Solomon M., Bamossy G., Askegaard, S. Hogg, M.: Consumer Behaviour: A European
perspective (3rd edition). Pearson Education Limited, 2006.
6. Kanuk, L. L., Schiffman, L.G.: Consumer Behaviour (8th edition). Prentice Hall, 2008.
7. Malhotra, Naresh: Marketing Research, 6th edition. Prentice Hall, 2010.
Final Grade Components: Percentage: Written exam 40% Class participation 10% Final project 50% Total 100%
46
1st Semester MBA (March -July)
8. Electronic resources:
www.semj.org
www.swlearning.com/web_resources/marketing_topics.html
www.blog.futurelab.net/
www.firstmonday.org
www.marketingblurb.com
www.quirks.com/
www.researchinfo.com/
http://www.b2binternational.com/
9. General Marketing-related sites:
http://www.census.gov
http://www.MarketingPower.com
http://cyberatlas.internet.com
http://www.ciesin.org
http://www.bea.gov
http://www.mra-net.org/
http://www.surveysystem.com/sscalc.htm
http://www.clickz.com/stats/
47
1st Semester MBA (March -July)
(MN) OPERATIONS MANAGEMENT (ECTS 6)
The students study and develop mathematical and statistical models applied in decision making in production, services, marketing, finance and general business processes. The course emphasizes the creation, development and application of deterministic and stochastic systems in forecasting, production planning, inventory management, maintenance, facility location, assembly line development, critical path method and simulations. COURSE OBJECTIVES Operations management is defined as the design, operation, and improvement of the productive system that creates the firm’s products and services. This course considers and introduces the students to the following issues: 1. process analysis and capacity management 2. optimization 3. demand management and forecasting 4. revenue management 5. inventory control 6. material management 7. material requirements planning 8. project scheduling and control Students attending the module will learn how to apply theoretical concepts and develop competencies essential for active involvement in discussions relating to operations management. They will accumulate needed knowledge to solve homework, exercises, preliminary and final exams, but also knowledge needed to enhance firm’s competitiveness and to improve employees individual abilities to act in an efficient manner and in accordance with the business strategy of their company. Students will use mathematical and statistical tools for solving problems from the field of operations management which will develop their analytical skills. Also, they will be able to balance the needs for satisfying customer demand and on-time delivery with minimum cost and high quality. Students will use appropriate software to simulate real problems and solve them. In this way they will advance the usage of new technologies and will be ready for their implementation when employed. Also, this skill will make them more competitive at the labour market.
48
1st Semester MBA (March -July)
CLASS HOURS
TOPICS Introduction to Operations Management Operations Strategy Innovation Strategy Process Analysis and Capacity Management Sales and Operations Planning Inventory Control Material Requirements Planning Scheduling Project Management
ELEMENTS OF GRADE The course grade is based on the following:
1. First midterm exam: 0 - 40 points 2. Second midterm exam: 0 - 40 points 3. Exercises in class: 0 - 10 points 4. Home works: 0 - 5 points 5. Class Participation: 0 - 5 points
Midterm exams: students are considered to have successfully completed preliminary exam if they accumulate at least 16 points. The maximum number of points is 40. Midterm exams consist of theoretical and computational exercises and are open books. Exercises in class: the number of exercises in class is arbitrary. There is no lower limit on number of points for successful completion. The maximum number of points is 10. At the end of the semester the average will be calculated. Students have to submit at least 25% of exercises. Exercises are open book. Home works: the number of home works is arbitrary. The scope of some home works will be just to repeat the issues we passed in class. Other home works will contribute to the grading and are taking form 0 to 5 points. At the end of the semester the average will be calculated. Students have to submit at least 25% of home works. Participation: the percentage of attendance will be calculated and transferred to the scale from 0 to 5 points.
Lectures 20 hours
Exercises 20 hours
Total 40 hours
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1st Semester MBA (March -July)
Final course grade: after summing all the achieved points, the final grade is determined in accordance with the following table:
Achieved points Final grade 90 - 100 Excellent (5)
80 - 89 Very good (4) 65 - 79 Good (3) 50 - 69 Pass (2)
Students that haven't passed the exam trough midterm exams have to take regular exam. Final grade elements are the same except the midterm exams points. They are substituted by the points achieved at final exam. LITERATURE Main literature: F. Robert Jacobs, Richard B. Chase, “Operations and Supply Chain Management”, McGraw-Hill/Irwin, New York (2011) Additional literature: G. Cachon, C. Terwiesch, “Matching Supply with Demand: An Introduction to Operations Management”, 3rd edition, McGraw Hill (2011) L. J. Krajewski, L. P. Ritzman, M. K. Malhotra, “Operations Management”, 9th edition, Addison – Wesley, (2010) Blackboard: lectures handouts, course reader, questions for discussion
50
1st Semester MBA (March -July)
(MK595) PRICE MANAGEMENT (ECTS 5)
The main objective of this course is to understand complex issues surrounding the shaping
of optimal long-term prices for products and services, resulting in a satisfying outcome.
After having completed this course, students will be able to understand current framework
for analyzing questions regarding prices and to get familiar with main techniques leading
to decisions on profitable prices.
COURSE OBJECTIVES
Students will, perusing literature connected with Price management, become familiar with
main concepts and economic interactions that pertain to following areas: conventional
versus strategic pricing, main building elements of strategic pricing, value creation as main
source of comparative advantage, price structure and market segmentation, etc. Students
attending the module will be able to identify key characteristics of corporate, national and
international macroeconomic environment, give insight how and to what extent features
relating to specific environments differ and propose solutions to adapt and react in
globalized world exposed to constant changes.
CLASS HOURS
Lectures 40 hours Total 40 hours
ELEMENTS OF GRADE
Final Grade Components: Percentage: Preliminary exam 1 30%
Preliminary exam 2 30% Preliminary exam 3 30% Essays/presentations 10% Total 100%
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1st Semester MBA (March -July)
LITERATURE
1. "The Strategies and Tactics of Pricing: A Guide to Growing More Profitably" (4th
edition); Nagle, T. and Hogan, J.; Pearson Prentice Hall; (2006).
2. "Pricing: Making Profitable Decisions" (3rd edition); Monroe, K. B.; McGraw-Hill;
(2003).
3. "Osnove marketinga" (4th edition); Kotler P., Wong V., Saunders J. and Armstrong G.;
Mate; (2006).
4. Blackboard: Lecture handouts, presentations, case studies, questions for discussion.
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1st Semester MBA (March -July)
(MK949) PRODUCT MANAGEMENT AND DESIGN (ECTS 5)
Product and brand management creates, without any doubt, a basis for further growth,
sometimes even in the case of companies trying to survive. Large numbers of products fail
on the market. Accordingly, the objective of this course is to create managers who shall be
able and will have the knowledge to build up brands and create a long term competitive
advantage on the market. This course shall present current challenges faced by many
companies in creating their brands. Case studies differ significantly, with respect to the size
of a relevant company and types of markets.
COURSE OBJECTIVES
Construct quality marketing plans for launching new products or services or sustaining
growth in existing ones. These plans will have a strategic orientation and will include
positioning, advertising, promotion, pricing, distribution, and service. Students will solve
six comprehensive cases. All these cases require the diagnostic of firms’ events, the analysis
of industry situation, product category analysis, marketing measurement, strategic options,
and decision-making. In addition, the course covers several exercises to develop
quantitative understanding of relevant analytical methods as they apply to the field of
product design and management.
CLASS HOURS
Class and practice 40 hours Total 40 hours
TOPICS
Product management: strategic considerations.
Financial analysis for product management.
New product concept: refinement route to market, and risk reduction.
Concept generation: understanding why consumers buy products.
Product concept analysis and evaluation.
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1st Semester MBA (March -July)
Forecasting and product architecture.
Developing product strategies.
Customer value and pricing strategies.
Advertising strategy: design and positioning.
Channel management decisions.
ELEMENTS OF GRADE
LITERATURE
1. Gui Lehman, Donald R. and Russell S. Winer, Product Management, 4th. Edition, 2005
McGraw-Hill Irwin, New York.
2. Case Package.
3. Drucker, Peter F. “The Discipline of Innovation,” Harvard Business Review, Nov-Dec
1998, pp: 149-157.
4. Thomke, Stefan. “Enlightened Experimentation: The New Imperative for
Innovation,” Harvard Business Review, Feb 2001.
5. Von Hippel, Eric, Thomke, Stefan, and Mary Sonnack. “Creating Breakthroughs at 3M
Corporation”, Harvard Business Review, Sept-Oct 1999.
6. Thomke, Stefan & Donald Reinertsen, “Agile Product Development, Managing
Flexibility in Uncertain Environments,” California Management Review, Vol. 41, No.
1, Fall 1998, pp 8-30.
7. Kano’s Methods for Understanding Customer-Defined Quality, Fall 1993.
8. Hepner Brodie, Christina, “A Polaroid Notebook: Concept Engineering,” Concept
Engineering Edition, 1994, pp: 7-14.
Final Grade Components: Percentage: Participation in sessions and attendance 20% Case discussions and class exercises 30% Final product management: Design and strategy group project 50% Total 100%
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1st Semester MBA (March -July)
9. Akao, Yoji. An Introduction to Quality Function Deployment, Chapter 1, Management
Engineering, Tamagawa University.
10. Tabrizi, Behnam& Rick Walleigh, “Defining Next-Generation Products: An Inside
Look,” Harvard Business Review, Nov-Dec, 1997, pp 116-124.
11. Anschuetz, Ned F. Evaluating Ideas and Concepts for New Consumer Products,
Chapter 14, The PMDA Handbook of New Product Development, pp. 195-206. John
Wiley&Sons.
12. Cutherell, David, Product Architecture, Chapter 16, The PMDA Handbook of New
Product Development, pp. 217-235. John Wiley & Sons.
13. MacMilland& McGrath, Rita Gunther, “Discovering New Points of Differentiation,”
Harvard Business Review, July-August, 1977, pp; 133-145.
14. Newman, Richard G. & John M. McKeller, “Target Pricing – A Challenge for
Purchasing,” Journal of Purchasing and Materials Management, Summer 1995,
pp.13-20.
15. Keller, Kevin Lane, “The Brand Report Card,” Harvard Business Review, January-
February, 2000, pp. 147-157.
16. Keller, Kevin Lane, “Managing Brands for the Long Run: Brand Reinforcement and
Revitalization Strategies,” California Management Review, Vol. 41, No. 3, Spring
1999, pp: 102-124.
17. Robertson, Thomas S. “How to Reduce Market Penetration Cycle Times,” Sloan
Management Review, Fall 1993, pp. 87-96.
55
1st Semester MBA (March -July)
(FN551) RANDOM PROCESS OF FINANCIAL MARKETS (ECTS 3)
Markov processes and reconstruction processes. Simple Markov processes. Homogeneous
Markov chains. Stationary conditions. Spectral decomposition. Application on stock price
fluctuation. Classification of conditions. Preparation for assessment of students`
knowledge. Brownian motion. Stochastic integrals and stochastic differential equations.
Ito`s lemma. Geometric Brownian motion. Ornstein-Uhlenbeck process. Cox, Ingersoll-Ross
model. Euler discretization. Binomial tree. Path simulations in a diffused process.
Application of maximum likelihood method. Method of moments. Monte Carlo simulations.
Monofactorial models. Rendeleman-Bartter model. Vasicek model. Hull White
model.Application of trees on interest rates. Merton model. Cox Ross model. Models with
stochastic volatility.
COURSE OBJECTIVES
The course Stochastic processes in the financial markets provides a basis and a framework
for quantitative understanding and description of stochastic processes that daily take place
in the financial markets. During the course (a) an insight into the mechanisms leading to
stochastic processes is given and quantities (such as stock prices or interest rates),
variation of which is described by the stochastic processes, are identified; (b) a
mathematical framework for the description, characterization and classification of the
stochastic processes is defined; (c) mathematical tools for analytical and numerical
description and/or simulation of stochastic processes are developed; (d) the most
important models suitable for the description of the stochastic processes in the financial
markets such as the variation of stock prices, the valuation of derivatives, dynamics of
interest rates and exchange rates, etc. are elaborated; (e) a practical connection with
empirical data for quantities in the financial markets that follow stochastic processes is
demonstrated. Within the course, the theoretical concepts are illustrated by the analyses of
several practical problems: the description of the variation of stock prices using the model
56
1st Semester MBA (March -July)
of simple random walk; the valuation of the European option using the binomial tree; and
the simulation of the stochastic process using the Euler discretization scheme.
CLASS HOURS
Lectures 24 hours Exercises 6 hours Total 30 hours TOPICS
The causes of stochastic processes in the financial markets.
Definition of stochastic processes.
Processes of Markov and renewal processes, Wiener processes and Brownian
motion.
Markov chains.
Simple random walk as a model of variation of stock price.
Stochastic calculus.
The most important types of stochastic differential equations.
Numerical approximations of stochastic processes.
Merton model and Black-Scholes equation for the valuation of options.
One-factor models.
ELEMENTS OF GRADE
LITERATURE
1. Hwei P. Hsu, Schaum's outline of theory and problems of probability, random
variables, and random processes, McGraw-Hill, 1996.
2. Presentations and working materials used for lectures and other supplementary
materials at Blackboard pages of the course.
3. S.I. Resnick, Adventures in Stochastic Processes, Birkhäuser Boston, 2002.
Final Grade Components: Percentage: Exam (written and oral part) 50% Practical problem (data processing on a computer) 20% Participation in classes and homework problems 30%
Total 100%
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1st Semester MBA (March -July)
4. D. Brigo, F. Mercurio, Interest Rate Models - Theory and Practice, Springer Finance,
2001.
5. P. Wilmott, Derivatives, Wiley, 1998.
58
1st Semester MBA (March -July)
(IT639) SAP/MS DYNAMICS NAV (ECTS 6)
This course is designed to develop the student's ability of introducing planning and
management of ERP systems to become competitive, productive and flexible in time of
global economy. When selecting the ERP system to offer students the opportunity to
introduce more detailed, ZSEM selected the SAP as one of the currently the largest software
company in Europe and fourth largest in the world, and also the world's largest producer of
ERP systems, and MS Dynamics NAV as the first and so far the only ERP (Enterprise
Resource Planning) system for small and medium enterprises that have over one million
user licenses in the world. Since SAP and MS NAV are used from more than one hundred
thousand companies, it is very likely that the students use it during their professional
careers. SAP and NAV are certainly good examples where the students can learn basic
functionality of the systems and try them.
COURSE OBJECTIVES
Students will among business cases and exam issues be able to identify the problems of
ethics and social responsibility in business as well as the implications of value system to
the use of new technologies in business. Students will learn to implement ERP system in a
small, middle and large company and learn to manage the ERP system. Described events in
an imaginary environment, students independently monitored using SAP/ Microsoft
Dynamics NAV system with an explanation of the vertical and horizontal integration.
During preparation of the amounts of each exercise, students learned or acquired their own
knowledge and experiences that are included in the content of the exercise. Finally, through
a joint general comment detect parts of the ERP data model used during the exercise.
CLASS HOURS
Lectures 22,5 hours (7,5 weeks*3 hours) Exercises, case study work, project 22,5 hours (7,5 weeks*3 hours) Online 15 hours Total 60 hours
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1st Semester MBA (March -July)
TOPICS
Review the organization of the course, defining terminology ERP market
segmentation and a brief overview of historical development.
Navigation and graphical user interface, views master and transactional data, login
to the system, explaining the menu system.
Overview of financial management modules.
Review accounting of the cost and profit centers, definition and use of ERP
dimensions.
Display of documents of sale, procedures for entering the document, recurring
entries, cancellations.
Description of the procurement process and monitoring.
Description and tracking the sales process.
Overview of modules to manage money and banking operations.
CRM and receivables management.
The definition and description of the SCM.
Managing debt and payment process.
View customization of business processes and analytical reporting.
Example of monitoring operations.
Example of analysis of business results.
ELEMENTS OF GRADE
*Additional points:
Final Grade Components: Percentage: Exercises 60% Project 10% Essay (ethics and corporate social responsibility) 5%
Sap.com/Microsoft portal-usage 5% Final exam 20% Total 100%
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1st Semester MBA (March -July)
Case study 10%
LITERATURE
1. Blackboard - Lecture handouts, presentations, case studies, questions for discussion.
2. SAP online help portal http://help.sap.com
3. MS Dynamics portal: http://www.microsoft.com or http://dynamicsuser.net/
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1st Semester MBA (March -July)
(MT622) SELECTED CHAPTERS OF FINANCIAL MATHEMATICS (ECTS 3)
Financial intermediation, basic elements and physiognomic of financial systems: the
concept and classification of financial instruments, basic physiognomic of financial
intermediation system, mathematical structure of financial instruments, time value of
money, simple and compound interest calculation.
COURSE OBJECTIVES
The main goal of the course is to learn different systems of financial intermediation,
intermediation elements and mathematical techniques that are used in market valuation of
debtors' financial instruments and selected types of derivatives. Besides developing
quantitative approach to business and financial problems, this course enables students to
recognize structure in a financial system, classification of financial instruments from the
perspective of their role in financial intermediation and from the perspective of different
combination of their economic and mathematical characteristics, to differ contract and
market elements in valuation of financial instruments and to learn market valuation of
debtors' financial instruments in detail. Course also teaches techniques of valuation of
future yields of basic securities' portfolios. Last part of the course give a short overview of
functioning and market valuation of certain types of derivatives.
CLASS HOURS
Lectures 28 hours Exercises 12 hours Total 40 hours
TOPICS
Financial intermediation.
Zero coupon bonds.
Coupon bonds.
Bonds quotation – Case study: US Treasury Bonds Quotation.
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1st Semester MBA (March -July)
Yield curve and hedging.
Bonds’ portfolio yield measures.
Derivatives and corporate bonds.
ELEMENTS OF GRADE
OR
LITERATURE
8. BB materials.
9. B. Gruić, I. Jemrić, I. Šutalo, H. Volarević: “Mathematics for ecnomists and managers”,
ZŠEM i Mate d.o.o. 2006.
10. Z. Bodie, A. Kane, A.J. Marcus: “Investments”, ZŠEM i Mate d.o.o. 2006.
11. J. Cvitanić, F. Zapatero: “Introduction to the Economics and Mathematics of
Financial Markets”, MIT Press, 2004.
12. The handbook of fixed income securities, Frank J. Fabozzi, Irwin professional
publishing, 1997.
13. Financial modelling, Zdravka Aljinović, Branka Marasović, Boško Šego, Zagreb,
Zgombić & Partneri, 2008.
14. Fundamentals of Futures and Options Markets, John C. Hull, Pearson Prentice Hall,
2008.
Final Grade Components: Percentage: Written exam 50% Oral exam 50%
Total 100%
Final Grade Components: Percentage: Written exam 50% Oral presentation 50% Total 100%
63
1st Semester MBA (March -July)
(MK583) SERVICES MARKETING (ECTS 5)
Services are increasingly becoming a relevant incentive for national economies, presenting
very often a significant force in achieving competitive advantage in various manufacturing
companies. Services have spread from traditional areas (tourism, catering, health
companies etc.) to almost every kind of field. The goal of this course is to teach about
services marketing as a special part of the marketing orientation and every day work.
Course activities focus on analysis and value estimation of the services marketing, which
represent a basis for strategic decision making process in traditional and non-traditional
services.
COURSE OBJECTIVES
The main goal of Services Marketing course is to provide understanding and investigation
of the “service element” in marketing, to study and analyze the customer service provided
by organizations, to assess firm strategies related to successful retention and loyalty of
customers and to learn about relationship marketing and service failure/recovery issues in
the service sector.
CLASS HOURS
Course sessions 30 hours Reading 40 hours Group work 60 hours Total 130 hours
TOPICS
Review of marketing, evaluation/importance of services, gap model of services.
Understanding the drivers of consumer expectations and performance.
Closing the knowledge gap (gap 1).
Closing the service design and standards gap (gap 2).
Closing the service performance and communication gap (gaps 3&4).
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1st Semester MBA (March -July)
ELEMENTS OF GRADE
LITERATURE
1. Services Marketing (Paperback) by Valarie A. Zeithaml, Mary Jo Bitner, Dwayne D.
Gremler, McGraw Hill Higher Education; 5th edition (July 1, 2008).
Final Grade Components: Percentage: In-class discussion 10% Individual paper 30% Exam 30% Group case analysis 30% Total 100%
65
1st Semester MBA (March -July)
(FN551) RANDOM (Stochastic) PROCESSES OF FINANCIAL MARKETS
(ECTS 3)
Markov processes and reconstruction processes. Simple Markov processes. Homogeneous
Markov chains. Stationary conditions. Spectral decomposition. Application on stock price
fluctuation. Classification of conditions. Preparation for assessment of students`
knowledge. Brownian motion. Stochastic integrals and stochastic differential equations.
Ito`s lemma. Geometric Brownian motion. Ornstein-Uhlenbeck process. Cox, Ingersoll-Ross
model. Euler discretization. Binomial tree. Path simulations in a diffused process.
Application of maximum likelihood method. Method of moments. Monte Carlo simulations.
Monofactorial models. Rendeleman-Bartter model. Vasicek model. Hull White model.
Application of trees on interest rates. Merton model. Cox Ross model. Models with
stochastic volatility.
COURSE OBJECTIVES
The course Stochastic processes in the financial markets provides a basis and a framework
for quantitative understanding and description of stochastic processes that daily take place
in the financial markets. During the course (a) an insight into the mechanisms leading to
stochastic processes is given and quantities (such as stock prices or interest rates),
variation of which is described by the stochastic processes, are identified; (b) a
mathematical framework for the description, characterization and classification of the
stochastic processes is defined; (c) mathematical tools for analytical and numerical
description and/or simulation of stochastic processes are developed; (d) the most
important models suitable for the description of the stochastic processes in the financial
markets such as the variation of stock prices, the valuation of derivatives, dynamics of
interest rates and exchange rates, etc. are elaborated; (e) a practical connection with
empirical data for quantities in the financial markets that follow stochastic processes is
demonstrated. Within the course, the theoretical concepts are illustrated by the analyses of
several practical problems: the description of the variation of stock prices using the model
of simple random walk; the valuation of the European option using the binomial tree; and
the simulation of the stochastic process using the Euler discretization scheme.
66
1st Semester MBA (March -July)
CLASS HOURS
Lectures 24 hours Exercises 6 hours Total 30 hours
TOPICS
The causes of stochastic processes in the financial markets.
Definition of stochastic processes.
Processes of Markov and renewal processes, Wiener processes and Brownian
motion.
Markov chains.
Simple random walk as a model of variation of stock price.
Stochastic calculus.
The most important types of stochastic differential equations.
Numerical approximations of stochastic processes.
Merton model and Black-Scholes equation for the valuation of options.
One-factor models.
ELEMENTS OF GRADE
LITERATURE
6. Hwei P. Hsu, Schaum's outline of theory and problems of probability, random
variables, and random processes, McGraw-Hill, 1996.
7. Presentations and working materials used for lectures and other supplementary
materials at Blackboard pages of the course.
8. S.I. Resnick, Adventures in Stochastic Processes, Birkhäuser Boston, 2002.
Final Grade Components: Percentage: Exam (written and oral part) 50% Practical problem (data processing on a computer) 20% Participation in classes and homework problems 30%
Total 100%
67
1st Semester MBA (March -July)
9. D. Brigo, F. Mercurio, Interest Rate Models - Theory and Practice, Springer Finance,
2001.
10. P. Wilmott, Derivatives, Wiley, 1998.
68
1st Semester MBA (March -July)
(MN710) STRATEGY (ECTS 5)
The course is based on the following concepts and management strategies: developing a
capacity for strategic thinking, estimating alternatives, forecasts and management of
strategic change; connecting different managerial disciplines; reactions to acquisitions,
outsourcing, decreasing the number of employees, joint ventures, strategic mergers;
development, coordination and managing financial, physical and human resources;
strategy models, competitive advantage, strategic options.
COURSE OBJECTIVES
Purpose of this course is to get better understanding of competitive forces in the world in
wich organization operate, with special emphasis on maintaining superiore competitive
position of company. Strategic leadership and entrepreneurship will be examine through
analysis of corporation culture and values. Developing will be in systematic and holistic
approach, understanding interactions of outside and inside surrounding of company.
Students will achieve valuable experience with real bussiness situations bounded with
strategy through team work by analyzing cases from practices.
CLASS HOURS
Lectures 20 hours (5 days*4 hours) Classroom exercises 20 hours (5 days*4 hours) Total 40 hours
TOPICS
Blue Ocean Strategy.
Managing internal operations – principles of Lean management.
Mergers & Acquisition.
Strategy for airline industry and turnaround strategy in Croatia Airlines.
Strategies for fast growing industry – mobile companies – case Tele2.
Business model, industry analysis, industry evolution.
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1st Semester MBA (March -July)
Sources of competitive advantage, organizational growth change and adaption.
Strategies in the hotel industry.
ELEMENTS OF GRADE
LITERATURE
1. Thompson, Strickland, Gamble (2006). Strategic management, Mate, Zagreb.
2. Vietor, Richard H. K. (2010): Kako se zemlje natječu. Harvard Business School Press,
Mate i ZŠEM.
3. Ghemawat Pankaj (2010): Redefiniranje globalne strategije. Harvard Business
School Press, Mate I ZŠEM.
4. Jackson, M. C. (2003). Systems Thinking: Creative Holism for Managers. Chichester:
John Wiley & Sons.
5. Đuro Njavro & Kristijan Krkač: Business Ethics and Corporate Social Responsibility,
Mate i ZŠEM, Zagreb.
6. Press
Financial Times (FT) – Journal, English language
Wall Street Journal (WSJ) – Journal, English language
The Economist – Weekly, English language
Banka magazine – Monthly, Croatian language
Harvard Business Review – Monthly, English language
Lider – Weekly
Eukonoist – Weekly
Strategic Management Journal
7. Web-pages
Final Grade Components: Percentage: Written exam 40% Project 60% Total 100%
70
1st Semester MBA (March -July)
http://web.mit.edu/smr/
www.forbes.com
www.fortune.com
www.business.hr