Theories for Business Decisions - 6 ECTS
This is an advanced course which is part of the WASS graduate programme in the MSc programmes MME, MID, MDR and MCH. The course discusses fundamental theories underlying business decisions and their translation into research questions and empirical applications in the domains of (i) business performance (production and cost theory, rational choice theory); (ii) collaboration (contract theory, transaction costs theory, (social) network theory); (iii) market conditions (theory of competition, market orientation theory, stakeholder theory); and (iv) innovation (prospect theory, resource based view).
After successful completion of this course students are expected to be able to:
1. Distinguish and contrast fundamental theories related to business decision making;
2. Debate contemporary themes in business theory;
3. Appraise relevant business theories for business problems in uncertain, complex and dynamic business environments;
4. Propose research questions for business oriented scientific research;
5. Evaluate business decision theories for their own research.
- tutorials in which main texts on business theories are intensively prepared and discussed;
- tutorials in which contemporary themes are assessed;
- a case study in which a case is elaborated from different theoretical perspectives;
- an individual short paper transforming case-relevant theories into testable hypotheses, research questions and empirical applications.
- short individual paper (50%);
- written test in which knowledge on theories is tested (50%).
The written test requires a minimum of 5.5 to pass.