Build greater confidence in your decision-making and achieve better profitability by demystifying finance and business economics. Through economic analysis, governance and balance you get a deeper understanding of your business and the main drivers of value. Business economics for engineers will broaden your expertise in business economics to help you see the bigger picture.
In the programme, you will improve your understanding of creating a basis for company reports, and interpret income statements and balance sheets. You will explore the purpose and uses of different calculations, and gain basic knowledge of contract law and tools and tips of how companies can implement a strategic way of working and how to develop their business and strategies to reach their long-term goals.
Content & structure
Module 1 Financial analysis, financial planning and follow-up
Financial analysis, financial planning and follow-up
Revenue, variable cost, fixed cost and profit
Break even alanysis
In search of the correct profit – focus on the balance sheet
The financial statement gearbox
Accounting – a value adding activity or a necessary evil?
Key Performance Indicators from a strategic perspective
Towards a comprehensive and coherent view
Different types of budgets
Using calculations for decision making
Module 2 Contract law, corporate strategy, Excel & Power BI
Excel & Power BI
Repetition of basic calculation
Handling larger amounts of data
KPI – Key Performance Indicators
From Excel data to visual reports via Power BI
General terms and conditions
Delivery and transport of goods and risk transition
Review of goods and liability
The strategy process
Selected strategy tools
Who the programme is for
The programme Business economics for Engineers is for people with a basic technical education (BSc or MSc in Technology) with a few years of work experience and with a will and need to strengthen and broaden their business skills.
Benefits and value
- Understand business concepts and relationships in order to get greater confidence in making decisions, both operational and strategic
- Improve the ability to use and understand basic accounting concepts by using key financial ratios
- Learn how to analyse the company from different points of view
- Understand where the company makes its money by going through the purposes and uses of different calculations
- Learn how to calculate and analyse investments
- Gain a basic knowledge of contract law
- Look at the company based on strategic processes
- Learn how to create visual reports via Power BI
The programme is based on active learning where the dialogue and exchange of experience between the participants is very important. We combine theoretical and practical aspects both in the content, and methods and provide tools and skills to understand different business processes that will affect the work within the company and the organisation.
The programme combines both individual exercises and group exercises relevant to your business.
The programme fee is 1590 euro + vat per participant. The price includes lectures, programme material and a digital diploma.
The faculty consists of professional lecturers from Hanken and experienced industry experts.