Business Analytics (2022/2023)
|Study Cycle:||Second Cycle (Postgraduate)|
|Faculty:||Business and Economics|
During the Business Analytics studies, students will gain the necessary skills to solve challenging business problems analytically using a multidisciplinary approach. More specifically, in the Business Analytics program, students will focus on managing and optimizing business processes. They will be introduced to the business economy as well as the various functional areas in the company (e.g., accounting, financial management, marketing, manufacturing and logistics, human resource management). Students will learn how the company operates every day and how its processes are organized through technology.
The study program corresponds to the needs of the labour market. As such, it will make a significant contribution to training students to build a professional career by acquiring higher education qualifications in line with the needs of the labour market. Students are set for a promising (international) career thanks to current insights into the combination of business economics, quantitative methods and technology, managerial skills and IT and language skills.
Knowledge and understanding
Possess knowledge and understanding of the business environment, business entities and their operations in the context of applied business (economics, management, marketing, finance, programming, databases, computer and information systems, networks and data engineering).
Ability to develop and apply original and creative ideas in environments in which the areas of applied business overlap or interrelate.
Ability to apply interdisciplinary knowledge and demonstrate specialist competencies in applied business.
Applying knowledge and understanding
Ability to solve problems critically, independently, and creatively in new environments or in environments in which students have no previous experience in a multidisciplinary context of a real business environment or organizational environment. Planning, conducting, and evaluating independent business research, implementing appropriate computational tools, environments, and technologies.
Creativity and originality in the interpretation of knowledge from business processes and appropriate use of computer tools based on defined research and examination techniques. Has the knowledge to start and develop his own business.
Ability for creative integration and synthesis of knowledge from multiple areas related to business processes and the use of computer tools and techniques.
Ability to deal with complex situations related to business processes, to identify appropriate specialized instances in the field of business and informatics and to make sound assessments in situations of lack of complete information or data and based on personal, social, and ethical principles; and responsibilities related to the application of knowledge and understanding.
Makes business decisions at a low-level management.
Has the ability to analyse market competition.
Ability to clearly and unambiguously present expert conclusions, results, studies, and knowledge with the ability to adjust the style and form of expression.
Competence for critical, independent, and creatively reasoned research, evaluation of methodologies and proposing and defending new hypotheses.
Ability to initiate, lead and take responsibility for individuals and groups in cases where business competencies and IT competencies are essential.
Ability to present the results of various studies, transmit business plans to working groups and stakeholders.
Ability to identify personal needs and directions for individual and autonomous further education, as well as for its independent and autonomous implementation in the usual business and information areas.
Ability to take responsibility for continuing individual learning in specialized business and IT areas within a networked economy.
Uses computer skills to gain legal knowledge.
Can undertake individual and team learning.
Has the ability to do business analysis and use scientific literature and reviews by other authors.
The purpose of this course is for students to gain knowledge and understanding of different scientific theories and methodologies. Students will first be explained the basic concepts and theoretical definitions and samples of all existing research methods, direct and indirect hypotheses, variables, validity of results, BIAS and prejudices and scientific qualities and quantitative research methodologies and other methodological approaches. For each chapter students will also perform practical assignments. Upon successful completion of this course, students will be able to: know and understand the importance of basic scientific concepts; learn techniques for efficient research and information retrieval and efficient access to relevant information and literature; identify, describe and formulate scientific problems; make a careful choice of alternative research approaches, describe carefully; compare and explain the advantages and disadvantages of different scientific methods for data collection and analysis in quantitative and qualitative research; apply basic scientific methods to analyse quantitative and qualitative data; provide basic theoretical frameworks on which research will be built; review them and evaluate technical and scientific publications.
The aim of the course is for students to be involved in the world of modern projects and to confront them with the opportunities and challenges of real economic life in creating projects suitable for real needs. The specific objectives of the course include how to define a given project (using several phases) and emphasize the important role of the project manager (to understand the need, scope, implementation activities, complexity of modern design, etc.). Students should be trained on how to apply modern tools and techniques of modern design management when transforming a need or creative idea into a real and documented project that will make them more inventive and competitive in the competitive labour market.
The aim of this course is to teach students to understand the relationship between market research and decision making, by getting acquainted with the processes used in the formulation and implementation of market research. Students will also understand the market conditions in which research is conducted and applied, including the methodology used in market analysis. The range of qualitative and quantitative techniques and methods available in market research, including their applicability and limitations, will also be understood.
Collecting, Aggregating & Managing Data
Database management systems are at the heart of modern business information systems. Data management, which focuses on data collection, storage, and retrieval, constitutes a core activity for any organization. Topics covered in this course include conceptual design of database systems using the entity relationship model, relational design, and normalization. The focus for this course will be on the relational database model with SQL as a language for creating and manipulating database objects.
[EFB-02] Game Theory and Business Strategy
Game theory, a traditional tool for academic economists, has become increasingly popular in the business world and is an essential tool of economic consultants. A major in Business Economics and Public Policy must have more than a rudimentary knowledge of Game Theory. Managerial decisions are not static and cannot be made in isolation. A manager must take into account and react to the “moves” of rival firms, government, and his or her subordinates and superiors within the company. Game theory is designed for the study of these types of interactions. The ultimate aim of the course is to strengthen your ability to think strategically in business situations, rather than to teach you facts or theories. To achieve this aim, we iterate between theory and practice. We use both formal case studies and real-world examples to sharpen our strategic thinking skills.
[C2138] Financial Reporting and Decision Making
Through the information of the main financial statements, it is intended that the management bodies in the company are in time equipped with quality information in the function of approving the right business decisions. Qualitative information through annual and quarterly financial statements presented in the Balance Sheet, Income Statement, Cash Balance, key indicators of economic performance such as profitability, liquidity, solvency, risk and potential bankruptcy will convince current and future investors to invest in companies and verify their investments through the market value of their shares.
[E2579] Real Estate Finance and Investment Analysis
This subject is an introduction to the concepts, principles, analytical methods and the most basic tools used to make investments and financial decisions related to real estate. This course will focus on building knowledge from a microeconomics point of view, i.e., will apply to individual real estate.
[E2580] Sustainable Enterprise
This course discusses the environmental and social challenges that arise as a result of how companies interact with their natural environment. From a managerial point of view, the national and international implications of the business and government response to these challenges are analysed. Can businesses contribute to change for a more sustainable future? The challenges of adopting sustainability strategies by enterprises are considered and students are enabled to critically analyse and communicate the results of the analyses made.
[E2581] Leadership, Teamwork and Diversity
In this course, students develop a “tool kit” of leadership behaviors to use in a variety of situations when those working with and/or for them need to be motivated toward a common good, particularly when that work involves the use of teams made up of diverse individuals.
[E2582] Accounting Information Systems
This course takes an integrative approach to showcase how accounting applications are at the core of every organization's enterprise system as they are vital to management and inform decision making. It prepares the future accountant or business analyst to understand how virtually every enterprise system exchanges data with an accounting system and that such systems are relied upon as the source of truth for reporting and compliance.
[E2583] Innovation Management
Innovation management represents a set of approaches through which creativity and innovation are encouraged through various techniques and approaches. This course will analyse the latest topics in the world literature related to innovation, creativity, and their management process in various fields. In addition to theoretical analysis, this course will provide a practical approach to students by creating real innovation and going through all the stages of learning methods of creating new ideas, as well as applying for funding and pitching.
[E2584] Investment Management
The course aims to provide students with an appropriate fund of theoretical knowledge and practical skills in the field of investment and investment decision-making between business entities in the country and in the modern world. The course aims to bring together the most modern theories and methods of project management and investment processes, their documentation and measuring their efficiency and effectiveness. Students from this course will be able to recognize and analyse investments in micro and macro plan; determine the motives and possible factors for investments; plan investment projects and manage investment processes; determine the level of investment risk; study and apply standard and modern capital budgeting criteria for the acceptance or selection of the most efficient investment project; to increase their self-confidence as well as motivation towards new scientific knowledge and practical experiences that would help them in their eventual employment or as employees in a company or commercial bank.
[E2585] Negotiations for Resolving Conflicts and Leading Change
An exploration of how topics of negotiation, resolving conflict, and leading change can be applied in dynamic and globalized professional environments. Students will become wiser and more thoughtful decision makers; more competent problem solvers; bolder, less risk averse leaders of people; and more effective, persuasive communicators.
[E2586] Trade Analytics
As retail corporate partners have grown the digital commerce side of their business relative to the traditional brick and mortar component. Retailers need entry-level college graduates with a more than basic understanding of ecommerce and evolving channel opportunities within retail. Retail Analytics offers students a single course focused on retail marketing through key areas of channel integration This is not a social media course.
[E2587] CRM and Digital Analytics
This course is designed to meet the increasing demands from the industry and recruiters for the application of quantitative and analytical skills to support sophisticated marketing decision making. The content of the course is based on cutting-edge research in optimization and interactive marketing to study customer relationship management and digital marketing. The goal is to apply optimization tools to derive analytical solutions to more customized and proactive marketing decisions, such as relationship pricing, promotion and inventory management, cross-selling campaigns and service allocation. The students learn how to make state-of-the-art marketing strategies and relevant analytical techniques that can be used to support these decisions.
[E2588] Financial Data Analysis
The purpose of the course is to provide students with tools to analyse and exploit information in corporate financial statements. The course will emphasize how accounting numbers measure and reflect the economic consequences of firms’ strategies, and how students can analyse financial statements to gain insights into firms’ strategic decisions. The course will also introduce students to how the information in financial statements is used for valuation, credit risk assessment, management compensation, and other economic decisions. The course will also examine the issues that corporate managers face as they design and implement financial reporting strategies, increasing students’ awareness of potential earnings management. The framework developed in this course is intended to enhance analytical skills for all students that desire a solid foundation of understanding of the information in financial statements, especially those planning careers that will bring them in contact with financial statements.
[E2589] Business Process Management
To maximize value creation, organizations must carefully analyse, document, and continuously assess the efficiency and effectiveness of their business processes. With a focus on the fundamentals of business process management, the objective of this course is to learn how information technology is used to enable and manage business processes. The three main topic areas of the course are enterprise data exchange, enterprise systems, and process management and analysis.
[E2590] Business Logistics
This course presents a systematic approach to managing business activities associated with transportation, inventory management, warehousing, packaging, order processing, materials handling The primary objective is to give students an understanding well about what are logistics and supply chain, why it becomes so vital nowadays to manage the business logistics / supply chain in an organization, how to manage and control well logistics activities in the organization to maximize profit and respond well customer’s demand.
[E2591] Digital Business
The digital business enterprise, the creation of new business designs reached by blurring the digital and physical worlds, revolves around technologies that make information useable and mobile. This course focuses on the digital ecosystem, the interplay between the physical and digital worlds, to explore the digital trends and innovations for businesses. Industry reports and discussion focus on deriving value from digital platforms to address business strategies. Topics include enterprise modelling frameworks, use of digital technology industry reports in business value creation, enterprise system platforms and interfaces, and the Software Development Lifecycle (SDLC) project management framework.
[E2592] Digital Marketing
The course provides students with knowledge about the business benefits of digital marketing and its importance for a marketing success in an organization. Digital marketing is the marketing done through the internet. Digital marketing includes forms of advertising, the use of social networks through the internet, as well as the use of various digital media. Students are also trained on how to compile a marketing content; how to choose websites and how to use SEO optimization; how to gain basic knowledge about Google Analytics to measure the effects of digital marketing. The knowledge, skills and competencies gained will help students design and evaluate a digital marketing plan in order to effectively manage digital marketing performance.
[E2611] Total Quality and Performance Management
The purpose of this course is to highlight the importance of MCT techniques, their importance and the positive aspects of their use in order to see in the near future a completely new overview of companies in Northern Macedonia.
[EM559] Business Consulting
Business consulting is a growing sector of the employment and business industry. There has been no better time to join the consulting industry, based on industry growth statistics. More importantly, as businesses strive to develop their positions in the marketplace, improve efficiency, reduce costs, and optimize operations, consultants are used on an increasingly larger basis. If you have the burning desire, think you have the necessary skills and the mindset to be a consultant this course will show you how. In this course we look at several the key topics you need to know. Whether you are consulting by yourself, as a partnership, as a small team, or with a large company, we will provide you with all the information you need to be a successful consultant. This includes consulting in any industry regardless of your level of experience. We also provide you the tools and understanding to develop strategy to deploy and be successful in your own consulting business. From choosing a business model, to determining your pricing, to managing overhead costs, then we cover the more complex tasks like developing a great marketing strategy, developing the best proposals, tips for consulting success, and implementing your recommendations. Best of all, we discuss consulting lessons learned and problems you can avoid; and end with consulting "Best Practices". Specific Learning Objectives: 1) Gain knowledge of management consulting practices. 2) Improve your ability to define key factors and issues relevant to a consulting engagement and examine their inter-relationships and learn to ‘massage’ them conceptually. 3) Gain practice in conducting a field-consulting project. 4) Improve your ability to present analyses of issues and organizational problems in a concise, accurate, clear and interesting manner from the perspective of a consult. 5) Gain exposure to a variety of processes and interventions involved in the management consulting arena. Learn how to match your individual strengths, weaknesses, likes, dislikes, personality and goals with consulting opportunities, demands and behaviours so as to help you enhance placement and career opportunities in management consulting.
- [EFB-02] Game Theory and Business Strategy
This module enables students to transfer their research skills and knowledge and to do the most complex task- writing their master thesis. The module aims to be fully practical and students to acquire the necessary knowledge and skills to approach writing the thesis. The module has unique return result-to enable students to write the master thesis with minimal difficulties, and with maximum efficiency. The course aims to improve research techniques and style of writing the paper, taking into account the prevention of the usage of illegal means, such as plagiarism and infringement of copyright, which are prohibited by the Statute of SEEU.