Course: Principal Areas of Business 2 credits: 3

For a service, manufacturing or trading company the student has the basic knowledge and skills to:

• construct and interpret a cash flow statement
• explain the main elements of working capital
• compute and calculate:
  • the cash conversion cycle
  • the cost of credit terms
  • the ability to pay current liabilities
• understand and define the definitions and concepts of innovation, invention and entrepreneurship
• define the different stages in innovation management and the factors influencing these stages
• understand and explain the sources of innovation and how to capture value from innovation projects
• describe specific key terms and variables of motivational theories
• understand how the organizational system and structure affects human behaviour
• describe the role that Inventory Management plays in Logistics and Supply Chain decision making and apply a variety of methods of setting appropriate Inventory Levels in situations of uncertain demand and /or supply
• apply various methods of analyzing a company’s inventory situation (ABC & Quadrant methods) and use the resulting information to make appropriate inventory management decisions

Competencies from the Framework Competencies IBMS:
TWM23-1, TWM20-1, TWM19-1