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  • It is often wrongly concluded that economics is irrelevant to running a business. In fact, economic factors affect businesses and decision making at three levels. At the macro level, factors such as the business cycle, interest rates and exchange rates directly affect product demand and cost of production. At the market level, the type of competition determines profitability and business strategy. At the company level, efficiency principles have a direct bearing on business success, principles such as marginal analysis, opportunity cost and profit maximisation. If you ignore economic principles, you will be unable to figure out likely changes in market conditions, you will be unable to understand competitive forces and you will have little idea of how to allocate resources efficiently.
  • Negotiation is one of several means that help managers make decisions. It is neither superior nor inferior to other forms of decision making. It is appropriate in some circumstances but not in others. Management is complex and deciding when negotiation is appropriate is just one aspect. The course aims to provide a thorough grounding in the science and practice of negotiation. Academic disciplines such as economics, psychology, sociology, politics, anthropology and mathematics have researched negotiation and much of this material forms the basis for its scientific analysis.
  • If you work in an organisation, you probably think you know a lot about them. But do you? An organisation continually has to adapt to changes in the competitive environment. Its effectiveness depends on the motivation and behaviour of the workforce. To capitalise on the capabilities of the workforce, it must have appropriate incentives, develop effective teams, design an attractive job environment and manage the dynamics of organisational change. By understanding the principles of organisational behaviour you acquire a deeper knowledge of how you relate to other members of the organization.
  • In highly competitive markets the success or failure of a product or service may be determined by the marketing decisions you take. This course will help you make the right ones.
    The course will enable you to analyse and critically evaluate marketing problems and opportunities. It will also help you develop and implement marketing strategies and programmes which take best advantage of your firm's situation.

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All study materials are being provided by the lecturers of the course in addition to the text book. Please use the materials given by your own lecturer.

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