Curriculum

Accounting & Financial Reporting in SMEs

Lecture content:

The course first provides an overview of the legal requirements of accounting and financial reporting and explains their structure, as well as the relationship between them. It then explains standard business transactions and how to record them. In detail the course covers the following contents: - Definition, structure and tasks of corporate accounting - Purpose of keeping business records - Bookkeeping requirements and systems - Recording of key business transactions - Rollover to annual financial statements and related work - Introduction to the preparation of annual financial statements - Legal requirements and basic accounting elements - Balance sheet recording of current and fixed assets - Balance sheet recording of equity and debt capital - Accruals and deferrals - Profit and loss statements (P&L) - Accounting policies - Notes to financial statements and management report

Learning Outcomes:

Upon completing this course, alumni have gained a basic understanding of account-ing and financial reporting, i.e. the reasons for accounting and financial reporting (legal requirements) and their structure, as well as the relationship between accounting and financial reporting. They know about standard ongoing business transactions and how to record them and are familiar with the most relevant items on financial reports, as well as profit and loss statements according to Austrian commercial law with a particular focus on SME scenarios.

Superior module:

Corporate Accounting & Business Mathematics

Module description:

Upon completing this module students possess detailed knowledge of the principles of corporate accounting and understand its application in SMEs. This includes operational accounting (financial accounting and corporate bookkeeping), as well as costs and performance accounting. The module provides a basic overview of the relationships of the individual aspects of corporate accounting and illustrates how to record corporate goods and financial transactions. In addition to general accounting standards, students are familiarized with the legal requirements for financial reporting. Students make informed decisions when recognizing and measuring matters of current and fixed assets, as well as equity and debt capital, and can draw up a profit and loss statement in compliance with balance sheet policies. Examples and case studies are used to highlight aspects particular to SMEs. After completing this module, students are aware of prevailing cost and performance accounting systems and how to apply these in SMEs. They know how to use cost and performance accounting to make informed decisions and to select the most indicated method to deal with to the case at hand. Students study the basic principles of business mathematics. The know the most rele-vant concepts and how to use them to solve problems in business sciences. In this module, students acquire a quantitative toolbox to be used in subsequent modules of the degree program.

Business Mathematics

Lecture content:

This course conveys the fundamentals of business mathematics and an analytical un-derstanding for problems. After an introduction to the key principles of mathematics, the course focuses on its application in the context of business sciences. In detail the course covers the following contents: - Key principles of mathematics, in particular of business mathematics - Commercial mathematics - Functions (types of functions, functions with variables, graph of a function) - Equations and equation systems - Integral calculus (first and second derivative, graph discussion) - Optimization The presented problem-solving approaches are applied to scenarios relevant in business sciences. These are first and foremost: cost function, marginal cost, profit maximization, optimal lot size, macroeconomic models.

Learning Outcomes:

Upon completing this course, alumni are familiar with the principles of business mathematics. They are able to consider problems of business science analytically and work out a suitable problem-solving approach. They are prepared to use mathematical models and quantitative methods in subsequent modules of the degree program.

Superior module:

Corporate Accounting & Business Mathematics

Module description:

Upon completing this module students possess detailed knowledge of the principles of corporate accounting and understand its application in SMEs. This includes operational accounting (financial accounting and corporate bookkeeping), as well as costs and performance accounting. The module provides a basic overview of the relationships of the individual aspects of corporate accounting and illustrates how to record corporate goods and financial transactions. In addition to general accounting standards, students are familiarized with the legal requirements for financial reporting. Students make informed decisions when recognizing and measuring matters of current and fixed assets, as well as equity and debt capital, and can draw up a profit and loss statement in compliance with balance sheet policies. Examples and case studies are used to highlight aspects particular to SMEs. After completing this module, students are aware of prevailing cost and performance accounting systems and how to apply these in SMEs. They know how to use cost and performance accounting to make informed decisions and to select the most indicated method to deal with to the case at hand. Students study the basic principles of business mathematics. The know the most rele-vant concepts and how to use them to solve problems in business sciences. In this module, students acquire a quantitative toolbox to be used in subsequent modules of the degree program.

Cost & Performance Accounting in SMEs

Lecture content:

The course conveys the principles of cost and performance accounting before discuss-ing individual aspects, as well as the systems most relevant for cost and performance accounting in SMEs. The course covers the following contents: - Principles of cost and results accounting - Aspects of cost and results accounting o Cost type accounting o Cost center accounting o Cost unit accounting o Operating result accounting - Full-cost vs. variable-cost accounting and their applications

Learning Outcomes:

Upon completing this course, alumni are familiar with the most relevant cost and performance accounting systems. They know how to use these in the context of SMEs and to make informed decisions.

Superior module:

Corporate Accounting & Business Mathematics

Module description:

Upon completing this module students possess detailed knowledge of the principles of corporate accounting and understand its application in SMEs. This includes operational accounting (financial accounting and corporate bookkeeping), as well as costs and performance accounting. The module provides a basic overview of the relationships of the individual aspects of corporate accounting and illustrates how to record corporate goods and financial transactions. In addition to general accounting standards, students are familiarized with the legal requirements for financial reporting. Students make informed decisions when recognizing and measuring matters of current and fixed assets, as well as equity and debt capital, and can draw up a profit and loss statement in compliance with balance sheet policies. Examples and case studies are used to highlight aspects particular to SMEs. After completing this module, students are aware of prevailing cost and performance accounting systems and how to apply these in SMEs. They know how to use cost and performance accounting to make informed decisions and to select the most indicated method to deal with to the case at hand. Students study the basic principles of business mathematics. The know the most rele-vant concepts and how to use them to solve problems in business sciences. In this module, students acquire a quantitative toolbox to be used in subsequent modules of the degree program.

Family Firms - Strategy & Sustainability

Lecture content:

This course elaborates on the differences between family and non-family firms, explains their respective strategies and the role of their sustainable, often generation-spanning thinking. Considerations are based on Tagirui & Davis¿s (1996) 3-circle model, that very clearly highlights the challenges of occupying multiple roles. Students learn to identify the particularities of family firms and to conceive dynamic orientations. Thinking ahead for several generations influences strategic orientation, innovation behavior, readiness to change, social behavior patterns and the drive to keep up traditional values. In line with the above, sustainability in all its different dimensions is of particular relevance here, with a special focus on the implementation opportunities within the value chain and the challenges of setting prices sustainably. The course determines opportunity and risk potentials as a basis for strategic and operative decisions in family firms. This is achieved, on the one hand, by way of (internal) business analyses that gauge the resources and capabilities to determine core competences and, on the other hand, (external) environment analyses that facilitate a structured assessment of the industry, market and competition. The identified strengths and weaknesses are then integrated into a SWOT analysis, which serves as the basis for setting strategic and subsequently operative goals.

Learning Outcomes:

Upon completing this course, alumni know how to apply and critically reflect on the 3-circle model by Tagiuri & Davis (1996). They understand the implications of the multiple-roles dilemma (father/son/co-worker etc.), why SMEs plan ahead for generations to come, as well as why they think along the principles of costs-benefits-strengths-weaknesses of SWOT models. The overarching principle of sustainability can be channeled for the development of new products and strategies. Alumni comprehend the basic terms, concepts and models of the strategic management of family firms: they can explain the strategic fit between a family firm¿s resources and their socio-economic environments and anticipate the moves of other agents. They understand the tools to assess opportunities and risks of strategic decisions for generic strategic advantages. After completing this course, alumni know how to apply these tools to optimize the potential of human resources and internal decision structures.

Superior module:

SME Management

Module description:

Upon completion of the course, students understand that in order to manage SMEs successfully and sustainably it is necessary to professionalize internal aspects and open up towards the exterior while appreciating the opportunities and limitations of management activities specific to SMEs. They know that professionalizing the company's operations and building competence (e.g., in the value chain, innovation, distribution and marketing) facilitates success. Students acquire a deep understanding of the structures, processes and areas of activity in SMEs including their different types such as family firms, sole traders and startups. They are able to derive implications for business practice and consider alternative steps, and focus fields. After completing this course, students understand how to assess the opportunities and risks of SMEs not only case-by-case but systematically in the context of the applicable cases, scenarios and individual circumstances.

Microeconomics & Behavioral Economics

Lecture content:

This course provides students with a basic understanding of the workings and problems of markets based on the essential questions of production: "what", "how" and "for whom". Taking the perspective of SMEs, the fundamental structural elements of demand and supply plans are discussed in order to explain and anticipate the processes and evolution of markets. Drawing on Schumpeter, the one-sided, supply-driven decision focus is therefore complemented with the essential structure of demand. In addition to this comprehensive analysis, the course also presents microeconomics as a decision theory, with critical consideration given to the current controversy of rational decision theory vs. behavioral economics, econs vs. humans. It elaborates on decision-making theories, which describe, explain and norm, how to make rational decisions. The multi-layered conditions under which SMEs operate, might lead to subjective decisions and biases that behavioral economics could nudge into more balanced, more prudent way of deciding. To be able to interpret strategic decisions particularly in a regional context (cluster, commons), game-theory approaches will be discussed. This course covers the following topics: - Economic behavior models (rational choice theory, game theory, behavioral economics, neuroeconomics) - Mechanisms of market economies - Household demand: optimized consumption plans - Production and goods supply of companies: optimized supply plans Price setting in imperfect markets, theory of market forms and types

Learning Outcomes:

Upon completing this course, alumni understand micro and behavior-economic deci-sion theories, which explain how to make prudent and successful decisions in an application-oriented and normative way. Moreover, they develop a balanced ability to analyze strategic interdependencies of SMEs, as well as to practically gauge potential decisions. They use these insights from decision-making theory to interpret market-economic allocations. They understand potential welfare losses due to failing markets or interventions on economic-political grounds and are able to reason the implications and surplus transfer of innovation, productivity gains and induced changes in market structure.

Superior module:

SMEs & their Environment

Module description:

Upon completing this module, students understand that the particularities of SMEs show specifically when these interact with their respective environments; not least due to the currently postulated entrepreneurial responsibility, the socio-economic reasons that motivate their specific value orientation are of increased relevance. This module explains how to analyze the seemingly conflicting interests of profit orientation and liabilities (towards employees, communities and families). Thus, students reflect on the socio-economic positioning of SMEs that cannot solely be considered from an economic perspective: as major competency building, students learn that values and traditions determine entrepreneurial activities. They know that to fully understand an SME, all these factors need to considered and reflected upon. In this module, students learn to apply the analytical concepts, tools and theories which allow them to design the manifold economic and strategic interlaces of SMEs. Using the above, SMEs are able to anticipate reactions to their own actions using the principles of game theory. Economic developments with their macro and regio-economic implications, accordingly, do not merely trigger a passive reaction but can be anticipated and addressed. Such equipped, students are able to analyze the strategic interdependence of economic agents. Students acquire an understanding of micro and behavior-economic decision theories that show how to act prudently and successfully in an application-oriented and normative way. Drawing on these action-theoretical insights, they comprehend how markets work, which processes these entail and how market structures change. In particular when facing internationalization decisions, students recognize potential market entry barriers and options. In terms of SME realities - success and failure of entrepreneurial decisions - the narrative plays a key role. Students understand how to gauge the semiotics of these SME realities and draw valid conclusions.

SME Company Law

Lecture content:

This course covers: private company law: the concept of the entrepreneur, corporate forms, entrepreneurial behavior, commercial register, designing and using company names, decision making processes, representation and liability, business-related transactions, defect notifications, extrajudicial debt recovery, unconscionable competition, deception, comparative advertising, abuse of a market-dominating position, cartel ban; Public business law: classification of trades and industries, scope of business licenses, professional practice according to trade law, business license registration, certificate of qualification, individual qualification, responsibility as mandated by trade law, location, trade practice of foreign nationals; competitive tendering procedures according to the Austrian commercial tendering law BVergG 2006, state aids and subsidies, aid supervision of the EC.

Learning Outcomes:

Upon completing the course, alumni have acquired a thorough understanding of Austrian private and public business law. They possess basic knowledge of business and commercial law, in particular regarding common corporate forms such as partnerships and other prevailing legal entities (GmbH, AG) and have worked with the relevant Austrian legal codes (the UGB, GmbHG and AktG). Alumni are able to recognize potential issues related to decision making, representation and liability aspects of businesses and are perceptive for practical problems relating to cartel law. Alumni are familiar with the stipulations of the Austrian trade law and understand the principles of commercial tendering and subsidy laws.

Superior module:

SME Management

Module description:

Upon completion of the course, students understand that in order to manage SMEs successfully and sustainably it is necessary to professionalize internal aspects and open up towards the exterior while appreciating the opportunities and limitations of management activities specific to SMEs. They know that professionalizing the company's operations and building competence (e.g., in the value chain, innovation, distribution and marketing) facilitates success. Students acquire a deep understanding of the structures, processes and areas of activity in SMEs including their different types such as family firms, sole traders and startups. They are able to derive implications for business practice and consider alternative steps, and focus fields. After completing this course, students understand how to assess the opportunities and risks of SMEs not only case-by-case but systematically in the context of the applicable cases, scenarios and individual circumstances.

SME Value Chains

Lecture content:

This course conveys the basic principles of SCM by highlighting its historic development, schools of thought, as well as other perspectives. It discusses the various definitions and core aspects of SCM. Special focus is put on how to adapt individual processes along the value chain to accommodate the particularities of SMEs. The course elaborates on the increasing level of interconnectedness of value creation achieved through digitalization, both, within the business, as well as spanning several businesses, e.g. with regard to transparency of inventory or order status, capacity fluctuations, and conditions of machinery and plants. Moreover, the course covers the relevance of inter-company collaboration to make up for structural disadvantages of smaller-sized ventures.

Learning Outcomes:

Upon completing the course, alumni comprehend the structure and efficiency factors of an optimized value chain. They understand the principles of network and supply chain dynamics and know several methods to map supply chains. In particular, they have acquired the ability to adapt such models to the specifics of SMEs and understand the opportunities to reduce costs along the individual processes of the value chain.

Superior module:

SME Management

Module description:

Upon completion of the course, students understand that in order to manage SMEs successfully and sustainably it is necessary to professionalize internal aspects and open up towards the exterior while appreciating the opportunities and limitations of management activities specific to SMEs. They know that professionalizing the company's operations and building competence (e.g., in the value chain, innovation, distribution and marketing) facilitates success. Students acquire a deep understanding of the structures, processes and areas of activity in SMEs including their different types such as family firms, sole traders and startups. They are able to derive implications for business practice and consider alternative steps, and focus fields. After completing this course, students understand how to assess the opportunities and risks of SMEs not only case-by-case but systematically in the context of the applicable cases, scenarios and individual circumstances.

SMEs & Entrepreneurship

Lecture content:

This course covers the requirements for as well as the functions and importance of entrepreneurial behavior. It illustrates the key relevance of an application-oriented entrepreneurial spirit for the economic success of an SME. To achieve this, the course discusses opportunity identification, innovativeness, pro-activeness and competitive aggressiveness, as well as entrepreneurial action in the context of entrepreneurship and intrapreneurship (entrepreneurial activities of employees within the venture). Drawing on these two approaches, the course illustrates how entrepreneurial thinking and acting can be promoted in SMEs. Moreover, the course analyzes the macroeconomic relevance of entrepreneurial behavior, as well as the role differentiation within the venture between owner-entrepreneur, manager and employees along with the resulting conflict constellations and resistance.

Learning Outcomes:

Upon completing this course alumni have acquired a deep understanding of the concepts of entrepreneurship and intrapreneurship. They are aware of the key importance of entrepreneurial thinking and acting to enable commercial success in small and medium-sized contexts, especially in contrast to the frequently observed "muddling through". Alumni understand the relevance of proactive, entrepreneurial behavior to develop new, innovative products and organizational solutions, as well as for opening up new procurement and distribution markets, but also to pursue technology-based start-up ideas or company succession. They recognize resistance, that oppose entrepreneurial thinking and action within and outside the venture and understand how to promote the latter. Alumni can apply the learning outcomes of this course in the subsequent modules Innovation Lab 1 to 3.

Superior module:

Entrepreneurial Behavior 1

Module description:

Upon completing this module, students comprehend the concept of entrepreneurship. They are familiar with the various perspectives of entrepreneurial behavior, that of the entrepreneur, the venture and the whole economy. Moreover, they understand the relevance of intrapreneurship, i.e. the entrepreneurial, innovative behavior of employees to achieve economic success. They know how to balance the approaches of leading and letting go (succession planning). They understand the importance of proactive, entrepreneurial action as opposed to the frequently observed "muddling through". Students are aware of the influence of the economic narrative on entrepreneurial behavior and the deriving changes. They understand the relevance of the narrator (homo narrans) and their ability to interpret economic success or failure to facilitate behavior changes that impact the business.

SMEs & Internationalization

Lecture content:

Going international presents a huge opportunity for SMEs from small countries such as Austria to transfer R&D costs to bigger markets and grow. This course discusses internationalization processes of SMEs and their particular challenges. In addition to the various possibilities to open up international markets, students learn about and use case studies to come up with solutions for potential market entry barriers that result from an incomplete understanding of the market in question, missing trust of local agents, as well as issues related to control mechanisms. The course discusses the necessity to collaborate with local partners to make up for resource limitations and diverse institutional conditions and analyzes the resulting consequences for sustainable international growth. The following aspects are covered: - Forms and goals of international commitment / international business relations with particular focus on industry and country-specific procurement, distribution and financing requirements - Decision parameters for finding the optimal production location - Internationalizing services - Financing and securing international business activities - Opportunities and limitations of international trade promotion

Learning Outcomes:

Upon completing this course alumni know the various internationalization strategies and can assess them in an application-oriented way. They are, in particular, familiar with specific market entry barriers, existing market structures and human factors; i.e. when drawing up contracts they understand to consider transaction costs ex ante as well as ex post as a decisive factor.

Superior module:

SMEs & their Environment

Module description:

Upon completing this module, students understand that the particularities of SMEs show specifically when these interact with their respective environments; not least due to the currently postulated entrepreneurial responsibility, the socio-economic reasons that motivate their specific value orientation are of increased relevance. This module explains how to analyze the seemingly conflicting interests of profit orientation and liabilities (towards employees, communities and families). Thus, students reflect on the socio-economic positioning of SMEs that cannot solely be considered from an economic perspective: as major competency building, students learn that values and traditions determine entrepreneurial activities. They know that to fully understand an SME, all these factors need to considered and reflected upon. In this module, students learn to apply the analytical concepts, tools and theories which allow them to design the manifold economic and strategic interlaces of SMEs. Using the above, SMEs are able to anticipate reactions to their own actions using the principles of game theory. Economic developments with their macro and regio-economic implications, accordingly, do not merely trigger a passive reaction but can be anticipated and addressed. Such equipped, students are able to analyze the strategic interdependence of economic agents. Students acquire an understanding of micro and behavior-economic decision theories that show how to act prudently and successfully in an application-oriented and normative way. Drawing on these action-theoretical insights, they comprehend how markets work, which processes these entail and how market structures change. In particular when facing internationalization decisions, students recognize potential market entry barriers and options. In terms of SME realities - success and failure of entrepreneurial decisions - the narrative plays a key role. Students understand how to gauge the semiotics of these SME realities and draw valid conclusions.

SMEs - Innovation & Stories

Lecture content:

This course discusses narratives and their ability to coin the interpretation of economic contexts: not only tools, performance indicators, models and action theories are relevant for entrepreneurial decisions, but first and foremost the semiotic practices that provide orientation for SMEs (this e.g. serves to explain the otherwise inexplicable impact of A. Rand`s grand narrative on the entrepreneurial landscape of the US). The course elaborates on the forms of narrative economy, that show the self image and public image of entrepreneurs, which, in turn, explains how to create innovation and which obstacles may arise in its course. This is best explained as learning by imitating narrating role models. Stories are not only part of autobiographies but also content for social networks, which can cause changes in behavior.

Learning Outcomes:

Upon completing this course, alumni recognize the impact of the economic narrative on entrepreneurial actions and deriving changes. Entrepreneurs take center stage as the narrator, the homo narrans, to interpret commercial success and failure. Alumni understand the mechanisms of the narrative economy, which in practice coins the action taken and induces change.

Superior module:

Entrepreneurial Behavior 1

Module description:

Upon completing this module, students comprehend the concept of entrepreneurship. They are familiar with the various perspectives of entrepreneurial behavior, that of the entrepreneur, the venture and the whole economy. Moreover, they understand the relevance of intrapreneurship, i.e. the entrepreneurial, innovative behavior of employees to achieve economic success. They know how to balance the approaches of leading and letting go (succession planning). They understand the importance of proactive, entrepreneurial action as opposed to the frequently observed "muddling through". Students are aware of the influence of the economic narrative on entrepreneurial behavior and the deriving changes. They understand the relevance of the narrator (homo narrans) and their ability to interpret economic success or failure to facilitate behavior changes that impact the business.

Academic Research & Writing

Lecture content:

This course conveys the basic principles and skills for academic research and writing. It covers the following topics: - Principles of science and extracts of scientific theory - Quality criteria for academic papers - Skills for academic research and analytic problem solving - Methodical-analytical competencies - Academic learning and working techniques, e.g., planning and conceptualizing academic papers - Introduction to professional management of literature sources exemplifying Citavi - Academic writing - Citation criteria - Sources for systematic knowledge mining

Learning Outcomes:

After completing this course, alumni are able to engage in academic research and writing and are familiar with academic learning and working techniques. They know how to source and rate academic literature and how to filter, condense, structure and evaluate information and knowledge on a given topic. They possess the competency to draw up seminar papers and bachelor theses according to academic standards.

Superior module:

Research Methodology

Module description:

Upon completing this module, students are familiar with and capable of applying academic learning and working techniques. They are able to source and evaluate relevant literature on a given topic and know how to filter, condense, structure and evaluate information and knowledge. In this module, students acquire the competency to draw up seminar papers and bachelor theses according to academic standards.

Finance & Capital Budgeting in SMEs

Lecture content:

The course firstly provides an overview of corporate finance and highlights the individual aspects of financial management. Then the course discusses two of these aspects, capital budgeting and financing, in more detail: - Corporate finance and financial management - overview - Capital budgeting o Interest and compound interest calculation: principles, present and final value of capital, equivalent interest rates o Static capital budgeting methods o Dynamic capital budgeting methods - Financing o Types of corporate financing (internal financing - external financing, equity financing - debt financing) o Financial growth cycle o Particularities of SME financing o Optimizing financing structures o Introduction to entrepreneurial finance

Learning Outcomes:

Upon completing this course, alumni are familiar with the principles of financial management. They know how to apply various capital budgeting computation methods and to assess the benefits of an investment opportunity. They know how to differentiate various financing types and judge their relevance in an SME context. Moreover, alumni understand the basics of entrepreneurial finance.

Superior module:

Financial Management & Management Accounting

Module description:

Upon completing this module, students possess detailed insights into the fundamentals of corporate finance and the tasks of financial management. They are aware of what factors influence capital budgeting decisions and are able to choose and apply the appropriate static and dynamic capital budgeting computation method. They understand the different financing forms along with their properties, advantages and disadvantages. They are able to assess financing forms for their fit to fund a business, and in particular an SME, considering various influencing factors. Students understand the principles of management accounting and can use it as a management tool to plan, steer and control corporate activities. They are familiar with the tasks of a management accountant, the most relevant management accounting tools and the goals and tasks of strategic management accounting. The module provides a special focus on the particularities of management accounting in SMEs.

How to Communicate your Ideas

Lecture content:

Complementary to the Innovation Lab 1, students learn to express all notions related to the topic of innovation using relevant vocabulary and structures of the English language. The lecture explains how to tailor contents to specific audiences and thus to create effective and targeted communication. Students are encouraged to experiment with the language in order to experience the impact they can create by using certain vocabulary, structures and rhetorical figures. Similarly, students try out different presentation techniques to convey concepts and ideas such as product and service innovations. Students build a comprehensive glossary and thesaurus of words to describe innovative products and services and overcome eventual reservations of speaking English and phrasing critical questions in public.

Learning Outcomes:

Upon completing this course, alumni can tailor innovation-related contents to a specific target audience. They understand the relevance of concise and effective communication and know how to make an impact when presenting a new idea. They are able to explain cause-effect relationsships, to phrase nuanced questions and to judge the effectiveness of written and oral texts. They dispose of sophisticated and relevant vocabulary as well as a profound understanding of text types which they use to create compelling texts and short presentations.

Superior module:

How to Communicate 1

Module description:

The HC modules complement the Innovation Labs. They cover the labs` individual stages (ideation, business model creation, financing) and inspire and assist students in their endeavor to optimize their communication skills. Students learn to present their ideas in an assertive yet emphatic manner, to make other see the value in their ideas - in English. In order to support students in professionalizing their language skills, this module provides students with the opportunity to extend and practice their business vocabulary and sharpen their argumentation skills.

Innovation Lab 1

Lecture content:

In this course students enter "unchartered thinking territory". Working on a self-selected task that ties in with corporate practice, students comprehensively apply the theoretical processes and methods to develop a product, either individually or in teams. They can create a product or business idea from scratch (entrepreneur) or further develop or update an existing product or process (intrapreneur). It is also possible that students dedicate themselves to developing succession scenarios for an SME. In any case, students produce a complete development plan that covers all phases of the development process (ideation - business model creation - securing financing). This includes selecting and applying the indicated methods and processes, as well adhering to structured, methodically sound project management.

Learning Outcomes:

Upon completing the Innovation Lab 1, alumni possess a deep understanding of the organizational and human-resources related requirements of innovation processes. They have learned how to initiate innovative processes, search for ideas and present these conclusively to a jury, to answer critical questions and to explain entrepreneurial potentials. Alumni know how to create imaginative and innovative ideas, respecting their individual resources or existing market conditions and to phrase them strategically. They have developed an appetite to do something completely "new". Upon completing this course, alumni know the techniques and methods for creative thinking and problem-solving processes. They are able to apply the insights gained in Innovation Lab 1 to develop, design and make new ideas ready for the market as well as provide organizational and market innovation. Alumni understand the ideation process and know how to apply creative problem-solving techniques and methods. They are able to nudge and implement creative processes within as well as outside their own venture following the principles of "creative leadership".

Superior module:

Innovation Lab 1

Module description:

The Innovation Labs 1 to 3 (semester 2 to 4) offer students the space and opportunity to transfer the until then acquired theoretical knowledge into practice. Joining theory and practice allows students to also draw extensively on the practical expertise they have gained in their professional careers in the individual phases of the project. Following the principles of applied education for professional practice and learning by doing, the acquired theoretical knowledge is immediately transferred into practical application. Simultaneously, the framework of this course provides students with the space to learn how to critically reflect, explain and assess alternatives for action in detailed, real-life business scenarios. The Innovation Labs 1 to 3 represent a practical entrepreneurial approach to finding solutions for SME-specific challenges and are divided into three major phases: 1) Ideation: in this phase, students enter "unchartered thinking territory", which is followed up by a strategic feasibility analysis. 2) Business model creation: in this phase, students design a comprehensive business model. 3) Financing: in this phase, students carry out a feasibility analysis to identify potential financing methods. Upon completing these modules, students possess the necessary skills to design all company processes from ideation to product and from order to entrepreneurial profit and to implement them in a business venture. Moreover, they are able to creatively position processes in their own family ventures and establish them against opposition. Drawing on this, they are able to anticipate, enforce and manage development, design and market-ready realizations of new ideas, as well as organizational and market innovation, and know how to evaluate resulting consequences. Upon completing the Innovation Lab 1 module, students possess a deepened understanding of the organizational and individual requirements of innovation processes. They have learned to initiate innovative processes, search for ideas and conclusively present these to a jury, to answer critical questions and explain the entrepreneurial potentials. Students know how to create imaginative and innovative ideas, respecting their individual resources or existing market conditions and to phrase them strategically. They have developed an appetite to do something completely "new". Students know how to apply the insights gained in the Innovation Lab 1 to develop, design and realize market-ready ideas, as well as organization and market innovation. They understand the opportunities and limitations of innovation management and, in particular, are aware of the opportunities and limitations of generating innovative solutions, as well as integrative innovation processes, in the context of small and medium-sized companies. They are familiar with the tools of strategic innovation management and equally understand the key questions of operative innovation management.

Innovation Management

Lecture content:

This course complements the Innovation Lab 2 and conveys the principles of innovation management. Drawing on these, the course discusses the organizational particularities of innovation processes in terms of resources and competencies limitations in SMEs. The course covers selected aspects of corporate innovation management and focuses on the following topics: Success factors, basic patterns, strategies and examples of corporate innovation management: - Designing corporate innovation systems - Business ventures as complex adaptive systems - Factors that influence a venture¿s ability to innovate - Relevance of intellectual property rights for the successful economic operation of SMEs and start- up ventures - Structures and culture that promote innovation in companies - Internal networks and knowledge management as nurturing ground for innovation Methods and tools for designing innovation processes (innovation strategies): - Innovation planning, managing and monitoring - Innovation marketing and financing Innovation-oriented competitor, market and technology analyses: - Concept and acceptance tests - Monetizing innovations - Role of external information sources & cooperation in technology transfer

Learning Outcomes:

Upon completing this course, alumni understand how to work on the processes and methods to develop new innovative products and services from various perspectives individually or in teams. They have acquired a deepened understanding of the organizational and human resources related requirements for innovation processes. They are familiar with the opportunities and limitations of generating innovative solutions, as well as of designing integrative innovation processes. They know the tools of strategic innovation management and are equally aware of the key questions of tactical/operative innovation management. By applying various creativity methods and techniques, alumni are able to nudge and implement creative processes in business ventures. Accordingly, they can develop and manage new product ideas, as well as anticipate deriving consequences.

Superior module:

Innovation Lab 1

Module description:

The Innovation Labs 1 to 3 (semester 2 to 4) offer students the space and opportunity to transfer the until then acquired theoretical knowledge into practice. Joining theory and practice allows students to also draw extensively on the practical expertise they have gained in their professional careers in the individual phases of the project. Following the principles of applied education for professional practice and learning by doing, the acquired theoretical knowledge is immediately transferred into practical application. Simultaneously, the framework of this course provides students with the space to learn how to critically reflect, explain and assess alternatives for action in detailed, real-life business scenarios. The Innovation Labs 1 to 3 represent a practical entrepreneurial approach to finding solutions for SME-specific challenges and are divided into three major phases: 1) Ideation: in this phase, students enter "unchartered thinking territory", which is followed up by a strategic feasibility analysis. 2) Business model creation: in this phase, students design a comprehensive business model. 3) Financing: in this phase, students carry out a feasibility analysis to identify potential financing methods. Upon completing these modules, students possess the necessary skills to design all company processes from ideation to product and from order to entrepreneurial profit and to implement them in a business venture. Moreover, they are able to creatively position processes in their own family ventures and establish them against opposition. Drawing on this, they are able to anticipate, enforce and manage development, design and market-ready realizations of new ideas, as well as organizational and market innovation, and know how to evaluate resulting consequences. Upon completing the Innovation Lab 1 module, students possess a deepened understanding of the organizational and individual requirements of innovation processes. They have learned to initiate innovative processes, search for ideas and conclusively present these to a jury, to answer critical questions and explain the entrepreneurial potentials. Students know how to create imaginative and innovative ideas, respecting their individual resources or existing market conditions and to phrase them strategically. They have developed an appetite to do something completely "new". Students know how to apply the insights gained in the Innovation Lab 1 to develop, design and realize market-ready ideas, as well as organization and market innovation. They understand the opportunities and limitations of innovation management and, in particular, are aware of the opportunities and limitations of generating innovative solutions, as well as integrative innovation processes, in the context of small and medium-sized companies. They are familiar with the tools of strategic innovation management and equally understand the key questions of operative innovation management.

Management Accounting in SMEs

Lecture content:

This course firstly covers the principles of management accounting and highlights the most relevant tools along with the particularities of management accounting in SMEs. Then it discusses the following aspects in more detail: - Development and organization of management accounting - Management accounting as management tool to plan, steer and control corporate activities - Task fields of management accountants - Management accounting tools - Goals and tasks of operative and strategic management accounting - Particularities of management accounting in SMEs - Operative planning and budgeting including integrated forecasting - Strategic forecasting and monitoring processes

Learning Outcomes:

Upon completing the course, alumni know how to apply management accounting as a management tool to plan, steer and monitor corporate activities. They understand how to use the most relevant controlling tools in an SME context and can design management accounting activities tailored to SMEs.

Superior module:

Financial Management & Management Accounting

Module description:

Upon completing this module, students possess detailed insights into the fundamentals of corporate finance and the tasks of financial management. They are aware of what factors influence capital budgeting decisions and are able to choose and apply the appropriate static and dynamic capital budgeting computation method. They understand the different financing forms along with their properties, advantages and disadvantages. They are able to assess financing forms for their fit to fund a business, and in particular an SME, considering various influencing factors. Students understand the principles of management accounting and can use it as a management tool to plan, steer and control corporate activities. They are familiar with the tasks of a management accountant, the most relevant management accounting tools and the goals and tasks of strategic management accounting. The module provides a special focus on the particularities of management accounting in SMEs.

Qualitative Methods

Lecture content:

This course covers the principles and methods of qualitative research, which can be used to approach problems from business practice, as well as for drawing up academic research in business sciences: - Decision criteria in qualitive data collection: method preferences, selection, connection to research question, establishing research design - Principles of qualitative research: quality criteria, sampling - Qualitative survey methods: guided interview, case study, focus groups, document analysis, observation - Transcribing: building categories and coding texts - Systematic content analysis, triangulation - Mixed methods - Reviewing and interpreting qualitative research findings

Learning Outcomes:

Upon completing the course, alumni understand the processes and basic methods of qualitative research. They are able to independently design and execute simple surveys and systematically analyze the collected information. Moreover, they have acquired the competency to rate, systematically process and interpret their findings. Alumni are familiar with the quality criteria for qualitative research and are able to interpret research contributions accordingly.

Superior module:

Research Methodology

Module description:

Upon completing this module, students are familiar with and capable of applying academic learning and working techniques. They are able to source and evaluate relevant literature on a given topic and know how to filter, condense, structure and evaluate information and knowledge. In this module, students acquire the competency to draw up seminar papers and bachelor theses according to academic standards.

Quantitative Methods

Lecture content:

This course discusses the fundamental topics and application fields of quantitative data analysis. It focuses on practice-oriented methods, which can be used to approach problems from business practice, as well as for drawing up academic research in business sciences. The course covers the following aspects: - Decision criteria in quantitative data collection: method preferences, selection, connection to research question, establishing research design - Principles of statistics: confidence intervals, measurement scales, sample sizes, standard distribution - Introduction to SPSS: program components, data editing - Descriptive data analysis: frequency distribution, one-dimensional measure, measure, correlations, graphic illustration of properties - Statistical inference: phrasing and testing hypotheses: mean value comparison, Chi-squared test, linear regression - Editing and interpreting statistical findings

Learning Outcomes:

Upon completing this course, alumni are familiar with the key application fields, advantages and disadvantages of quantitative research methods and are able to link them logically to research questions. They are capable of designing and evaluating simple quantitative surveys and to systematically process and interpret the findings. Alumni are familiar with the quality criteria for quantitative research and are able to interpret research contributions accordingly.

Superior module:

Research Methodology

Module description:

Upon completing this module, students are familiar with and capable of applying academic learning and working techniques. They are able to source and evaluate relevant literature on a given topic and know how to filter, condense, structure and evaluate information and knowledge. In this module, students acquire the competency to draw up seminar papers and bachelor theses according to academic standards.

Work Placement

Lecture content:

Students are fully involved in professional activities related to the contents of the degree program with an operating business. The tasks the students work only should be closely related to the focal points of the program. Thus, students assume activities closely related to the degree program regardless of the industry or company type of the small or medium-sized business that provides them with work placement. In order to meet the criteria of the work placement, students work on projects in one or several departments contributing complex tasks that related to the contents of the degree program.

Learning Outcomes:

Upon completing this module, alumni are familiar with the corporate and social environment, as well as with processes and organizational structure, of small and medium-sized enterprises. They have acquired the capability to work on complex problems under supervision and to independently execute tasks. They have learned to integrate into teams and collaborate across departments or corporate fields.

Superior module:

Work Placement

Module description:

Upon completing this module, students are familiar with the corporate and social environment, as well as with processes and organizational structure, of small and medium-sized enterprises and have gained professional experience.

Brand Communication & Digitalization

Lecture content:

- Principles of communication, interface management of online and offline communication in multi-channel environments, mobile communication and measurement (in real time). - Using and maintaining communication platforms, web usability engineering (usability / accessibility / user experience) and their relationship with conversion optimization processes, terminals and channels of mobile communications.

Learning Outcomes:

Upon completing this course, alumni understand the principle of corporate communication and, in particular, of social media communication; they know how to analyze the potentials and limitations of acquiring new contacts and customers. Alumni are aware of the individual tools of online and offline communication, as well as with the various user types. They appreciate the relevance of content marketing and storytelling along with their entertaining and inspiring contributions for SMEs, as well as larger corporations. They are capable of measuring the success of social media marketing in a basic way.

Superior module:

Brands & Marketing

Module description:

Upon completing this course, students are capable of explaining the various types and definitions of entrepreneurial marketing. They understand to join entrepreneurial marketing with classic marketing tools such as digital communication, price setting, product management and innovation in order to achieve a comprehensive, responsible perspective. They are capable of recognizing the implications of societal developments e.g., resource bottlenecks or climate crises, on developing product innovations or also the extent to which digitalization changes company communications. Moreover, they are aware of the particularities of start-up companies, SMEs and family-managed businesses and understand the deriving implications for brand management on a company and product level.

Brand Creation & Innovation

Lecture content:

- Principles of brand creation: What is a brand? What makes a brand special? How are brands created in SMEs or family-managed businesses? - Identifying framework conditions that a company brand or product brand sets for the innovation process along with their impact on the whole value chain (sourcing to waste disposal). - Principles of product innovation pursuing a wholistic approach: what types of product innovation are there? What does "responsible" product innovation mean? What do companies have to observe if they pursue such innovation approach? Which implications does this approach have on brand creation?

Learning Outcomes:

Upon completing this course, alumni are able to define the brand concept on a product and company level and are capable of evaluating the opportunities and limitations of SMEs and family-managed businesses to position a brand. They are aware of what innovation from a wholistic perspective means and understand the basic principles of a responsible innovation process along with its implications for the brand creation process.

Superior module:

Brands & Marketing

Module description:

Upon completing this course, students are capable of explaining the various types and definitions of entrepreneurial marketing. They understand to join entrepreneurial marketing with classic marketing tools such as digital communication, price setting, product management and innovation in order to achieve a comprehensive, responsible perspective. They are capable of recognizing the implications of societal developments e.g., resource bottlenecks or climate crises, on developing product innovations or also the extent to which digitalization changes company communications. Moreover, they are aware of the particularities of start-up companies, SMEs and family-managed businesses and understand the deriving implications for brand management on a company and product level.

Developing Business Models

Lecture content:

This course discusses how to assess and analyze different business models. Moreover, students learn that when creating a new business model, it is key that it satisfies cus-tomer needs better than already existing business models (value innovation, architectural innovation and monetization model innovation). Students investigate the optimization potentials of existing business models and particularly focus on the challenge to create sustainable business models (circular economy, cradle to cradle). Students learn how assess and evaluate existing business models. Taking the perspec-tive of potential investors, this is an important step for developing the business model students work on in the course Innovation Lab 2.

Learning Outcomes:

Upon completing this course, alumni are familiar with the most relevant cornerstones of creating, assessing and strategically implementing a business model. They are aware of the key factors of company success and failure and are able to analyze and communicate these. They understand the relevance of available human resources and existing networks, as well as the interplay of the producer`s pricing expectations versus the customers` willingness to pay this price. They are capable of deconstructing and analyzing existing or even prevailing business models. They recognize historical models and their assumptions, as well as new attempts to increase the market potentials of SMEs.

Superior module:

Innovation Lab 2

Module description:

The Innovation Labs 1 to 3 (semester 2 to 4) offer students the space and opportunity to transfer the until then acquired theoretical knowledge into practice. Joining theory and practice allows students to also draw extensively on the practical expertise they have gained in their professional careers for the individual phases of the project. Following the principles of applied education for professional practice and learning by doing, the acquired theoretical knowledge is immediately transferred into practical application. Simultaneously, the framework of this course provides students with the space to learn how to critically reflect, explain and assess alternatives for action for detailed, real-life business scenarios. The Innovation Labs 1 to 3 represent a practical entrepreneurial approach to finding solutions for SME-specific challenges and are divided into three major phases: 1) Ideation: in this phase, students enter "unchartered thinking territory", which is followed up by a strategic feasibility analysis. 2) Business model creation: in this phase, students design a comprehensive business model. 3) Financing: in this phase, students carry out a feasibility analysis to identify potential financing methods. Upon completing these modules, students possess the necessary skills to design all company processes from ideation to product and from order to entrepreneurial profit and to implement them in a business venture. Moreover, they are able to creatively position processes in their own family ventures and establish them against opposition. Drawing on this, they are able to anticipate, enforce and manage development, design and market-ready realizations of new ideas as well as organizational and market innovation and know to evaluate resulting consequences. Upon completing the Innovation Lab 2 module, students know how to describe processes and methods for producing professional products and services from various perspectives and how to transform the idea created in Innovation Lab 1 into a sound business proposition. They have created a comprehensive overview of costs and results with a particular focus on the required human resources in form of a classic 3-year plan and are thus capable of assessing potential risks. Students understand how businesses can build longterm relationships with their customers, as well as the relevance of customer satisfaction. Students are aware of the fact that SMEs often need to execute new ideas and ingenious marketing activities on very tight budgets; they understand to think out-of-the-box and surprise with the unexpected in order to outshine competition. Moreover, they know that the internet has changed to common understanding of marketing and how to use it as a marketing, as well as a marketed-oriented e-commerce tool. They are aware of the relationship between entrepreneurial marketing and classic marketing instruments, with a particular focus on pricing decisions and price management. They can explain why it is essential to observe the market for creating a business plan or a strategy. Students also recognize that SME / family-managed business success strongly depends on the cooperation of the various stakeholders (customers, advertising and media agencies, retailers, distribution partners, logistics providers) when positioning themselves on the market.

Digital Transformation

Lecture content:

Students are familiarized with new, innovative possibilities of digitalizing value chain processes. Using example cases and technology demonstrators, existing solutions are highlighted and discussed. Example cases and experience reports explain the applica-tion potentials of new technologies in SMEs.

Learning Outcomes:

Upon completing this course, alumni are aware of current technological solutions to digitalize value chain processes in SMEs. They have a basic understanding of how to assess these regarding their costs and benefits as well as regarding the technological maturity.

Superior module:

Process Management & Digitalization

Module description:

Upon completing this course, students understand the principles of process management, as well as of quality-oriented process control. Moreover, they are capable of recognizing and documenting business processes and analyze these for optimization potentials. In this module, students also learn to correctly use PC and network technologies. As topics like industry 4.0 and smart factories are becoming increasingly relevant also for SME performance, students acquire a fundamental understanding of the digitalization of value chains in SMEs. Thus prepared, students are able to meet the challenges of digital transformation in SMEs.

Entrepreneurial Marketing

Lecture content:

- Principles of Entrepreneurial Marketing: definition, application fields, tasks - Recognizing the differences and similarities with classic marketing tools - Principles of operative marketing focusing on price management

Learning Outcomes:

Upon completing this course, alumni can explain the various forms and definitions of entrepreneurial marketing. They manage to relate entrepreneurial marketing with classic marketing tools, with a particular focus on pricing decisions and price management. They can elaborate the reasons it is essential to observe the market to create a business plan or strategy. Alumni also recognize that SME / family-managed business success strongly depends on the cooperation of the various stakeholders (customers, advertising and media agencies, retailers, distribution partners, logistics providers) when positioning themselves in the market.

Superior module:

Innovation Lab 2

Module description:

The Innovation Labs 1 to 3 (semester 2 to 4) offer students the space and opportunity to transfer the until then acquired theoretical knowledge into practice. Joining theory and practice allows students to also draw extensively on the practical expertise they have gained in their professional careers for the individual phases of the project. Following the principles of applied education for professional practice and learning by doing, the acquired theoretical knowledge is immediately transferred into practical application. Simultaneously, the framework of this course provides students with the space to learn how to critically reflect, explain and assess alternatives for action for detailed, real-life business scenarios. The Innovation Labs 1 to 3 represent a practical entrepreneurial approach to finding solutions for SME-specific challenges and are divided into three major phases: 1) Ideation: in this phase, students enter "unchartered thinking territory", which is followed up by a strategic feasibility analysis. 2) Business model creation: in this phase, students design a comprehensive business model. 3) Financing: in this phase, students carry out a feasibility analysis to identify potential financing methods. Upon completing these modules, students possess the necessary skills to design all company processes from ideation to product and from order to entrepreneurial profit and to implement them in a business venture. Moreover, they are able to creatively position processes in their own family ventures and establish them against opposition. Drawing on this, they are able to anticipate, enforce and manage development, design and market-ready realizations of new ideas as well as organizational and market innovation and know to evaluate resulting consequences. Upon completing the Innovation Lab 2 module, students know how to describe processes and methods for producing professional products and services from various perspectives and how to transform the idea created in Innovation Lab 1 into a sound business proposition. They have created a comprehensive overview of costs and results with a particular focus on the required human resources in form of a classic 3-year plan and are thus capable of assessing potential risks. Students understand how businesses can build longterm relationships with their customers, as well as the relevance of customer satisfaction. Students are aware of the fact that SMEs often need to execute new ideas and ingenious marketing activities on very tight budgets; they understand to think out-of-the-box and surprise with the unexpected in order to outshine competition. Moreover, they know that the internet has changed to common understanding of marketing and how to use it as a marketing, as well as a marketed-oriented e-commerce tool. They are aware of the relationship between entrepreneurial marketing and classic marketing instruments, with a particular focus on pricing decisions and price management. They can explain why it is essential to observe the market for creating a business plan or a strategy. Students also recognize that SME / family-managed business success strongly depends on the cooperation of the various stakeholders (customers, advertising and media agencies, retailers, distribution partners, logistics providers) when positioning themselves on the market.

Fundamental PC Skills

Lecture content:

Basic principles of PCs and network technology, application examples of MS Office standard software, e.g., PowerPoint; Special focus on data analyses and data processing using MS Excel.

Learning Outcomes:

Upon completing this course, alumni possess basic skills in PC technology and know how to use standard software such as MS Excel and MS PowerPoint.

Superior module:

Process Management & Digitalization

Module description:

Upon completing this course, students understand the principles of process management, as well as of quality-oriented process control. Moreover, they are capable of recognizing and documenting business processes and analyze these for optimization potentials. In this module, students also learn to correctly use PC and network technologies. As topics like industry 4.0 and smart factories are becoming increasingly relevant also for SME performance, students acquire a fundamental understanding of the digitalization of value chains in SMEs. Thus prepared, students are able to meet the challenges of digital transformation in SMEs.

How to Communicate Your Business Ideas

Lecture content:

Business ventures and their environments take center stage in this course. Students will discuss the different aspects of putting together a business model and coining a strategy and vision for their endeavours that accomodate stakeholders such as suppliers, employees and distribution partners. Given that supply, recruiting and distribution markets are becoming increasingly international, cross-cultural aspects will be subject of classroom elaboration. Another focal point of the course will be on preparing and executing effective negotiations with stakeholders.

Learning Outcomes:

Upon completing this course, alumni are able to convey all aspects that relate to designing and implementing a business model. They understand the impact of corporate strategies and visions and how to phrase these to provide anchor points for (potential) stakeholders. Alumni are aware of the implications of cross-cultural collaboration, negotiation and recruiting activities. They have acquired the vocabulary as well as an understanding of how to comprehensively prepare for negotiations and know how the language can be used effectively to achieve their goals.

Superior module:

How to Communicate 2

Module description:

The HC modules complement the Innovation Labs. They cover the labs` individual stages (ideation, business model creation, financing) and inspire and assist students in their endeavor to optimize their communication skills. Students learn to present their ideas in an assertive yet emphatic manner, to make other see the value in their ideas - in English. In order to support students in professionalizing their language skills, this module provides students with the opportunity to extend and practice their business vocabulary and sharpen their argumentation skills.

Innovation Lab 2

Lecture content:

In this phase of the innovation lab, students learn to turn the ideas generated in Innovation Lab 1 into strategically sound business models. They develop a classic 3-year plan including a details description of all costs and potential results. This includes - Recording all cost drivers - Describing potential customer bases along with their price affinities - Outlining potential markets, market volumes and market potentials Moreover, students estimate the required human recourses and design a strategic life cycle. Students need to defend the business models they have created in front of a jury at the end of the course. To develop their business models, students need to draw on their entrepreneurial spirit. In this context, the course highlights the possibilities and readi-ness to establish a real business discussing the presented business models.

Learning Outcomes:

Upon completing this course, alumni are capable of explaining the processes and methods to produce professional products and services from various perspectives and to translate the idea generated in Innovation Lab 1 into a sound business proposition. They have created a comprehensive overview of costs and results with a particular focus on the required human resources in form of a classic 3-year plan and are thus capable of assessing potential risks. They are able to assess the extent of potential internal or external financing. Should the business model be oriented towards an exit strategy, alumni are capable of specifying a projected market value including a selling price.

Superior module:

Innovation Lab 2

Module description:

The Innovation Labs 1 to 3 (semester 2 to 4) offer students the space and opportunity to transfer the until then acquired theoretical knowledge into practice. Joining theory and practice allows students to also draw extensively on the practical expertise they have gained in their professional careers for the individual phases of the project. Following the principles of applied education for professional practice and learning by doing, the acquired theoretical knowledge is immediately transferred into practical application. Simultaneously, the framework of this course provides students with the space to learn how to critically reflect, explain and assess alternatives for action for detailed, real-life business scenarios. The Innovation Labs 1 to 3 represent a practical entrepreneurial approach to finding solutions for SME-specific challenges and are divided into three major phases: 1) Ideation: in this phase, students enter "unchartered thinking territory", which is followed up by a strategic feasibility analysis. 2) Business model creation: in this phase, students design a comprehensive business model. 3) Financing: in this phase, students carry out a feasibility analysis to identify potential financing methods. Upon completing these modules, students possess the necessary skills to design all company processes from ideation to product and from order to entrepreneurial profit and to implement them in a business venture. Moreover, they are able to creatively position processes in their own family ventures and establish them against opposition. Drawing on this, they are able to anticipate, enforce and manage development, design and market-ready realizations of new ideas as well as organizational and market innovation and know to evaluate resulting consequences. Upon completing the Innovation Lab 2 module, students know how to describe processes and methods for producing professional products and services from various perspectives and how to transform the idea created in Innovation Lab 1 into a sound business proposition. They have created a comprehensive overview of costs and results with a particular focus on the required human resources in form of a classic 3-year plan and are thus capable of assessing potential risks. Students understand how businesses can build longterm relationships with their customers, as well as the relevance of customer satisfaction. Students are aware of the fact that SMEs often need to execute new ideas and ingenious marketing activities on very tight budgets; they understand to think out-of-the-box and surprise with the unexpected in order to outshine competition. Moreover, they know that the internet has changed to common understanding of marketing and how to use it as a marketing, as well as a marketed-oriented e-commerce tool. They are aware of the relationship between entrepreneurial marketing and classic marketing instruments, with a particular focus on pricing decisions and price management. They can explain why it is essential to observe the market for creating a business plan or a strategy. Students also recognize that SME / family-managed business success strongly depends on the cooperation of the various stakeholders (customers, advertising and media agencies, retailers, distribution partners, logistics providers) when positioning themselves on the market.

Process Management

Lecture content:

Basic principles and theoretical foundations along with the key elements of process management, methods and depiction types to describe processes, process types, methods and procedures to analyze and optimize processes.

Learning Outcomes:

Upon completing this course, alumni are familiar with the basic principles of process management as well as quality-oriented process control. Moreover, they are capable of recognizing and documenting business processes and analyze these for optimization potentials.

Superior module:

Process Management & Digitalization

Module description:

Upon completing this course, students understand the principles of process management, as well as of quality-oriented process control. Moreover, they are capable of recognizing and documenting business processes and analyze these for optimization potentials. In this module, students also learn to correctly use PC and network technologies. As topics like industry 4.0 and smart factories are becoming increasingly relevant also for SME performance, students acquire a fundamental understanding of the digitalization of value chains in SMEs. Thus prepared, students are able to meet the challenges of digital transformation in SMEs.

Work Placement

Lecture content:

Students are fully involved in professional activities related to the contents of the degree program with an operating business. The tasks the students work only should be closely related to the focal points of the program. Thus, students assume activities closely related to the degree program regardless of the industry or company type of the small or medium-sized business that provides them with work placement. In order to meet the criteria of the work placement, students work on projects in one or several departments contributing complex tasks that related to the contents of the degree program.

Learning Outcomes:

Upon completing this module, alumni are familiar with the corporate and social environment, as well as with processes and organizational structure, of small and medium-sized enterprises. They have acquired the capability to work on complex problems under supervision and to independently execute tasks. They have learned to integrate into teams and collaborate across departments or corporate fields.

Superior module:

Work Placement

Module description:

Upon completing this module, students are familiar with the corporate and social environment, as well as with processes and organizational structure, of small and medium-sized enterprises and have gained professional experience.

BA-Colloquium

Lecture content:

In order to support students in their endeavor to get ready for writing their bachelor theses, this Bachelor Colloquium covers content and organizational aspects of how to find and slot a topic. The course prepares students for how to approach the content-related aspects, as well as the management of the project "bachelor thesis" following high quality standards.

Learning Outcomes:

Upon completing this module, alumni are capable of finding and preparing a topic and know how to draw up a proposal for an academic thesis. They are aware of the content and organizational criteria of a bachelor thesis.

Superior module:

Bachelor Factory 1

Module description:

Upon completing this module, students are capable of finding and preparing a topic and know how to draw up a proposal for an academic thesis. They are aware of the content and organizational criteria for their bachelor theses.

Financing

Lecture content:

This course introduces students to the principles of corporate finance management and provides an overview of the various financing types and their contractual designs (entrepreneurial finance). The course focuses on the following topics: - Entrepreneurial finance - principles and particularities of financing business establishment and growth (including financing succession models) - Business angels and venture capital: definition / investment processes / added value - Factors that influence validation and financing possibilities - Business models and capital requirements - Clusters and incubators This course examines the different types of business financing. It discusses contractual stipulations, as well as their regional contexts (readiness to invest) in detail. The different types of financing entail a whole spectrum of expectations. The covered types of financing are equally relevant for funding the business ideas developed in the Innovation Labs 1 to 3 or for succession models.

Learning Outcomes:

Upon completing this course, alumni understand the basic principles of corporate finance management. They are familiar with the different types of financing along with their characteristics, advantages and disadvantages and can assess the fit of these financing forms for establishing or growing business ventures considering the relevant influencing factors. They are aware of the particularities and problem areas of SME financing and entrepreneurial finance. Alumni are capable of validating their business models and derive a suitable financing form. They are able to link the stages of the life cycle (introduction - growth - maturity - saturation) with different types of financing (debt capital or equity capital). At the same time, they are aware of the hard and soft facts that are relevant to convince a potential investor in an investor pitch. All these aspects are then relevant in for alumni in the Innovation Lab 3 to consider when submitting the final evaluation of the financial feasibility of their individual projects.

Superior module:

Innovation Lab 3

Module description:

The Innovation Labs 1 to 3 (semester 2 to 4) offer students the space and opportunity to transfer the until then acquired theoretical knowledge into practice. Joining theory and practice allows students to also draw extensively on the practical expertise they have gained in their professional careers during the individual phases of the project. Following the principles of applied education for professional practice and learning by doing, the acquired theoretical knowledge is immediately transferred into practical application. Simultaneously, the framework of this course provides students with the space to learn how to critically reflect, explain and assess alternatives for action for detailed, real-life business scenarios. The Innovation Labs 1 to 3 represent a practical entrepreneurial approach to finding solutions for SME-specific challenges and are divided into three major phases: 1) Ideation: in this phase, students enter "unchartered thinking territory", which is followed up by a strategic feasibility analysis. 2) Business model creation: in this phase, students design a comprehensive business model. 3) Financing: in this phase, students carry out a feasibility analysis to identify potential financing methods. Upon completing these modules, students possess the necessary skills to design all company processes from ideation to product and from order to entrepreneurial profit and to implement them in a business venture. Moreover, they are able to creatively position processes in their own family ventures and establish them against opposition. Drawing on this, they are able to anticipate, enforce and manage development, design and market-ready realizations of new ideas as well as organizational and market innovation and know to evaluate resulting consequences. Upon completing the Innovation Lab 3 module, students know how to adequately finance their own business models, especially considering the difference between seed and operating capital. They understand the opportunities for how to convince investors of their ideas and are able to assess contractual stipulations of financing proposals. Likewise, they are capable of identifying under which conditions the market would be ready to invest. Students possess the skills to evaluate a business model in order to derive the most appropriate financing types. They know how to combine the stages of the life cycle (introduction - growth - maturity - saturation) with different financing types (debt financing or equity financing). At the same time, they are aware of the hard and soft facts that are relevant to convince a potential investor in an investor pitch. All these aspects are then relevant for students in the Innovation Lab 3 to consider when submitting the final evaluation of the financial feasibility of their individual projects.

How to Communicate Financial Dimensions

Lecture content:

This course centers on communication with investors in business ventures. In order to secure financing, it is necessary to communicate product ideas, USPs, business models etc in a concise but compelling way. It is important to understand the fine line between confident pitching and exaggerated play-acting. The course will discuss different approaches by using e.g. elements of storytelling to create authentic, memorable and relatable investor pitches. Over the course of the semester, students will craft an investor pitch which they will then deliver in a real-life scenario.

Learning Outcomes:

Upon completing this course, alumni understand the impact of persuasive language as a selling tool. They are able to express how they want to monetise their business ideas and explain their unique selling propositions convincingly without overselling themselves and their ideas and thus losing credibility and authenticity. Alumni are aware of the power of storytelling and have acquired the tools to make memorable and relatable pitches.

Superior module:

How to Communicate 3

Module description:

The HC modules complement the Innovation Labs. They cover the labs` individual stages (ideation, business model creation, financing) and inspire and assist students in their endeavor to optimize their communication skills. Students learn to present their ideas in an assertive yet emphatic manner, to make other see the value in their ideas - in English. In order to support students in professionalizing their language skills, this module provides students with the opportunity to extend and practice their business vocabulary and sharpen their argumentation skills.

Human Resource Management in SMEs

Lecture content:

This course covers application fields of human resource management relating to SME-specific scenarios. These are: - Tasks and goals of human resource management - Digitalization in human resource management - Agility in human resource management - Employer branding - Recruiting - Selection - Motivational theories - Leadership theories - Employee development - Conflicts in a company setting - Compensation - Employee controlling - Working time management Working with specific, business-relevant scenarios, this course discusses how to apply the key HR activities in SME-specific situations. This entails either working on real-life scenarios from SMEs that course participants work for or SME-relevant case studies.

Learning Outcomes:

Upon completing this course, alumni understand the basic structure and functionalities of human resource management. They are familiar with the essential HR activities. Alumni know the key tools of human resource management for SME-specific scenarios and how to apply these adequately.

Superior module:

Human capital

Module description:

Upon completing this module, students are familiar with the essential HR activities. They know the key tools in Human Resource Management for SME-specific situations and understand how to use these adequately. Moreover, they have acquired the skills to assess and adhere to the legal requirements of company law, as well as labor and employment law.

Innovation Lab 3

Lecture content:

In the Innovation Lab 3, students learn to assess the financing potentials of their business models and to identify adequate financing types - distinguishing seed and operating capital. They learn how to find investors for their ideas and how to assess the contractual stipulations of financing offers. Likewise, they identify under which conditions the financial market would be ready to invest in their proposition. Students acquire a realistic understanding of how much seed capital would be required to establish the business models they developed in the Innovation labs 1 and 2 in real life. Following given criteria, students finally need to phrase a decision of whether they actually want to establish the business venture developed in Innovation Lab 1 and 2 or not and argue and defend their "establishment decision" or "non-establishment decision" to a jury.

Learning Outcomes:

Upon completing this course, alumni are able to evaluate their business model according to financial and substantial criteria. They know how to price their ventures and understand how to present their considerations and concepts to investors. Moreover, they are capable of providing a balanced assessment according to relevant criteria of under which conditions the financial market would be ready to invest in their proposition.

Superior module:

Innovation Lab 3

Module description:

The Innovation Labs 1 to 3 (semester 2 to 4) offer students the space and opportunity to transfer the until then acquired theoretical knowledge into practice. Joining theory and practice allows students to also draw extensively on the practical expertise they have gained in their professional careers during the individual phases of the project. Following the principles of applied education for professional practice and learning by doing, the acquired theoretical knowledge is immediately transferred into practical application. Simultaneously, the framework of this course provides students with the space to learn how to critically reflect, explain and assess alternatives for action for detailed, real-life business scenarios. The Innovation Labs 1 to 3 represent a practical entrepreneurial approach to finding solutions for SME-specific challenges and are divided into three major phases: 1) Ideation: in this phase, students enter "unchartered thinking territory", which is followed up by a strategic feasibility analysis. 2) Business model creation: in this phase, students design a comprehensive business model. 3) Financing: in this phase, students carry out a feasibility analysis to identify potential financing methods. Upon completing these modules, students possess the necessary skills to design all company processes from ideation to product and from order to entrepreneurial profit and to implement them in a business venture. Moreover, they are able to creatively position processes in their own family ventures and establish them against opposition. Drawing on this, they are able to anticipate, enforce and manage development, design and market-ready realizations of new ideas as well as organizational and market innovation and know to evaluate resulting consequences. Upon completing the Innovation Lab 3 module, students know how to adequately finance their own business models, especially considering the difference between seed and operating capital. They understand the opportunities for how to convince investors of their ideas and are able to assess contractual stipulations of financing proposals. Likewise, they are capable of identifying under which conditions the market would be ready to invest. Students possess the skills to evaluate a business model in order to derive the most appropriate financing types. They know how to combine the stages of the life cycle (introduction - growth - maturity - saturation) with different financing types (debt financing or equity financing). At the same time, they are aware of the hard and soft facts that are relevant to convince a potential investor in an investor pitch. All these aspects are then relevant for students in the Innovation Lab 3 to consider when submitting the final evaluation of the financial feasibility of their individual projects.

Labor and Employment Law

Lecture content:

The course discusses topics relating to individual and collective labor law, employee participation bodies, as well as the role of stakeholders in SMEs. Students acquire basic knowledge in the field of labor and employment law, in particular regarding topics rele-vant for business scenarios such as recruiting, employing and terminating human resources.

Learning Outcomes:

Upon completing this course, alumni are capable of assessing scenarios relating to labor and employment law in SMEs adequately and find solutions. Should a situation prove to be too complex, alumni understand, when to consult a specialist and are ready to serve as a competent reference person.

Superior module:

Human capital

Module description:

Upon completing this module, students are familiar with the essential HR activities. They know the key tools in Human Resource Management for SME-specific situations and understand how to use these adequately. Moreover, they have acquired the skills to assess and adhere to the legal requirements of company law, as well as labor and employment law.

Project Management

Lecture content:

This course focuses on the following topics: principles of project management, project mission, planning and executing projects in companies, planning methods for the different phases of a project, control of deadline and cost adherence as well as pro-gression status, change management, crisis and conflict management in projects, evaluation processes, social skills, critical success factors, project documentation, project portfolio management, project completion.

Learning Outcomes:

Upon completing this course, alumni possess sound knowledge of project management with a special focus on the conditions in small and medium-sized companies. They are capable of describing the main activities, as well as the allocation of responsibility areas. They know how to create reports, how to deal with micro-political processes in businesses and how to make target-performance comparisons. They understand how to execute project management under the resource and competency bottlenecks particular to SMEs.

Superior module:

Project Management

Module description:

Upon completing this module, students possess profound knowledge in the field of project management with a special focus on the conditions in small and medium-sized enterprises. They are capable of naming the main activities, as well as the allocation of responsibilities. They know how to create reports, how to deal with micropolitical processes in businesses and how to make target-performance comparisons. They understand how to execute project management under the resource and competency bottlenecks particular to SMEs.

Work Placement

Lecture content:

Students are fully involved in professional activities related to the contents of the degree program with an operating business. The tasks the students work only should be closely related to the focal points of the program. Thus, students assume activities closely related to the degree program regardless of the industry or company type of the small or medium-sized business that provides them with work placement. In order to meet the criteria of the work placement, students work on projects in one or several departments contributing complex tasks that related to the contents of the degree program.

Learning Outcomes:

Upon completing this module, alumni are familiar with the corporate and social environment, as well as with processes and organizational structure, of small and medium-sized enterprises. They have acquired the capability to work on complex problems under supervision and to independently execute tasks. They have learned to integrate into teams and collaborate across departments or corporate fields.

Superior module:

Work Placement

Module description:

Upon completing this module, students are familiar with the corporate and social environment, as well as with processes and organizational structure, of small and medium-sized enterprises and have gained professional experience.

Bachelor Paper & Coaching Seminar Winter Semester

Lecture content:

Students present and reflect on their progress and defend their work before teachers and peers.

Superior module:

Bachelor Factory 2

Module description:

By drawing up a bachelor thesis, students demonstrate their ability to individually apply scientific methodology and discussion on a task relevant to their field of studies within a set timeframe and to present resulting findings in a clear and structured way. Students understand how to identify the problem content of a task, systemize their thoughts, structure contents, find results by applying appropriate methods and argue their findings in a convincing way.

Cooperation

Lecture content:

This course discusses the role of cooperation as a key element of the company strategy of an SME to address eventual disadvantages related to size or resource constraints. It analyses the different cooperation and network types, as well as other forms of inter-company collaboration, either upstream or downstream the value chain or with educational or research institutions. Moreover, it explores how SMEs contribute to the global value chain and highlights the specific challenges that result from collaborating and/or cooperating with larger business ventures. This course strives to map the desired cooperation parameters in order to derive required, strategic steps. It is essential to coordinate all aspects in this field and to turn these into a market-ready product. The course shows that networks and cooperation focus on realizing competitive advantages. Moreover, it covers how to manage and control company networks. In this context, the course explores questions relating to selecting network or cooperation partners, allocating resources in networks, regulating network activities and evaluating results.

Learning Outcomes:

Upon completing this course, alumni appreciate the increasing relevance of inter-company networks and cooperation for company success in a dynamically evolving environment. They are familiar with the requirements when opening up to the exterior, e.g., in terms of cooperation, consulting, transnational activities, as well as the necessity specific to medium-sized businesses to align such activities with stakeholders. Drawing on the contents of this course, alumni are capable of analyzing and evaluating the possibilities and limitations of inter-company cooperation, which is increasingly relevant particularly for innovation and new market entry activities, in a decision-oriented way. Equally, they have acquired an understanding of how to manage company networks, as well as cooperation with funding and R&D institutions.

Superior module:

Entrepreneurial Behavior 2

Module description:

Upon completing this module, students understand that due to the limited resources in SMEs not all customers can be dealt with in the same way. They know the criteria that help identify business customers with yield potential. They are aware of the different organization forms, that are relevant for key account management and understand how to assess these. Students comprehend the relevance and opportunities of cooperation. Aware of the resources and competency bottlenecks of SMEs they understand how cooperating with others can help overcome these. Similarly, they are familiar with the potentials of initiating inter-company cooperation. They understand that cooperation can be "risk traps" due to external factors and accordingly that any cooperation effort needs to be well pondered and anchored in the company strategy. The acquired knowledge can be tested and discussed in the guest lectures with SME experts. These discussions allow to interlink qualification profiles even more tightly with the daily operations and topical questions. Participating actively, students deepen and sharpen the acquired competencies and practical interests.

Distribution Management

Lecture content:

This course discusses the particularities of distribution management in SMEs and family-managed companies: - The interplay of marketing and distribution - Distribution channels and how to manage them (functional, regional, customer and product-oriented distribution organization) - Customer benefit / the 4 Ps - Cross, hard and value selling: characteristics and benefits - Aligning and designing distribution aspects and customer relations with channels and customer segments - Performance indicators & management cockpits in distribution

Learning Outcomes:

Upon completing this course, alumni are aware of the relevance of distribution along with its activities. Building on the principles of the value chain, alumni understand the significance of distribution management and how to use it strategically. They are familiar with the typical challenges of developing, implementing and maintaining strategic and operative distribution structures. They comprehend the basic principles and concepts (e.g., value proposition, customer relationships, types of distribution channels, customer segmentation and aligning distribution structures), as well as how these are implemented in practice.

Superior module:

Distribution

Module description:

Students understand sales and distribution as a strategic field and operative activity in the SME context. They are aware of the relevance of distribution and key account management in the value chain. They know how to create a distribution plan and how to execute successful sales conversations.

Guest Lectures

Lecture content:

This course consists of a series of guest lectures that provide topical insights to business practice. Experts and professionals from relevant business ventures and related organizations are invited to present and discuss current aspects of SME management with students. By integrating (regional) businesses, these lectures cover application-oriented aspects and relate to current, as well as regional, topics.

Learning Outcomes:

Upon completing this course, alumni have acquired insights to current aspects of business practice through a series of guest lectures. They are aware of the challenges and opportunities regional entrepreneurs are facing and see various aspects of entrepreneurial action. By discussing relevant topics with experts, they have improved their argumentation and communication skills.

Superior module:

Entrepreneurial Behavior 2

Module description:

Upon completing this module, students understand that due to the limited resources in SMEs not all customers can be dealt with in the same way. They know the criteria that help identify business customers with yield potential. They are aware of the different organization forms, that are relevant for key account management and understand how to assess these. Students comprehend the relevance and opportunities of cooperation. Aware of the resources and competency bottlenecks of SMEs they understand how cooperating with others can help overcome these. Similarly, they are familiar with the potentials of initiating inter-company cooperation. They understand that cooperation can be "risk traps" due to external factors and accordingly that any cooperation effort needs to be well pondered and anchored in the company strategy. The acquired knowledge can be tested and discussed in the guest lectures with SME experts. These discussions allow to interlink qualification profiles even more tightly with the daily operations and topical questions. Participating actively, students deepen and sharpen the acquired competencies and practical interests.

Key-Account Management

Lecture content:

This course covers the following aspects: - Principles of key account management: definition and reasons for implementing key account management in companies, contextualization in the field of entrepreneurial marketing - Key concepts of the key account management model: customer analysis, targeting, customer life cycle, creating value propositions, planning and relationship management - Decision criteria for identifying key accounts - Organization structures for implementing key account management along with their strengths and weaknesses

Learning Outcomes:

Upon completing this course, alumni understand that due to the limited resources in SMEs not all customers can be dealt with in the same way. They know the criteria that help identify business customers with yield potential. They are aware of the different organization forms, that are relevant for key account management and understand how to assess these.

Superior module:

Entrepreneurial Behavior 2

Module description:

Upon completing this module, students understand that due to the limited resources in SMEs not all customers can be dealt with in the same way. They know the criteria that help identify business customers with yield potential. They are aware of the different organization forms, that are relevant for key account management and understand how to assess these. Students comprehend the relevance and opportunities of cooperation. Aware of the resources and competency bottlenecks of SMEs they understand how cooperating with others can help overcome these. Similarly, they are familiar with the potentials of initiating inter-company cooperation. They understand that cooperation can be "risk traps" due to external factors and accordingly that any cooperation effort needs to be well pondered and anchored in the company strategy. The acquired knowledge can be tested and discussed in the guest lectures with SME experts. These discussions allow to interlink qualification profiles even more tightly with the daily operations and topical questions. Participating actively, students deepen and sharpen the acquired competencies and practical interests.

Risk & Crisis Management

Lecture content:

Staff or other agents in SMEs are often exposed to risk situations and crises. This often results in fears and objections that coin the perception, communication and the behavior of these agents. In particular, this course covers: Recognizing, assessing and adequately addressing risk situations/crisis, objections in risk situations/crisis, fears, communication, proactive addressing of risk situations /crises, required competencies in risk situations/crises, organizational conditions to adequately address risk situations and crises.

Learning Outcomes:

Upon completing this course, alumni are capable of recognizing, assessing and adequately addressing risk situations/crises in SMEs. They are aware of the required competencies and organizational conditions in risk situations and crises.

Superior module:

Social Competencies

Module description:

Students determine their individually effective communication and presentation styles. They are able to communicate authentically but also adequately for the situation and system. They are capable of moderating work groups efficiently. Students know how to recognize, assess and adequately address risk situations and crisis scenarios in SMEs. They are aware of the required competencies and organizational conditions in risk situations and crises. Students understand the various existing roles in SMEs. Consequently, they can distinguish, interpret and proactively address the communication and behavior of different role occupants.

Roles & their Understanding

Lecture content:

Staff and agents in SMEs often occupy various roles (e.g., owner, manager, parent, head of marketing and production in one person). Communication and behavior of humans in organizations is often coined by the roles they occupy and can lead to intra and inter-role conflicts. Only rarely, agents are aware of the multiply roles (including the impact of family roles) along with the resulting communication, behavior and conflict patterns. This course covers the following topics: from function to role, roles in SMEs, communication and behavior as determined by roles, intra and inter-role conflicts, how to design and communicate roles in SMEs, how to interpret and proactively react based on communication patterns of role occupants.

Learning Outcomes:

Upon completing this course, alumni understand the existing various roles in SMEs. Consequently, they have a balanced perception and interpretation of the communication and behavior of different role occupants and can address these proactively.

Superior module:

Social Competencies

Module description:

Students determine their individually effective communication and presentation styles. They are able to communicate authentically but also adequately for the situation and system. They are capable of moderating work groups efficiently. Students know how to recognize, assess and adequately address risk situations and crisis scenarios in SMEs. They are aware of the required competencies and organizational conditions in risk situations and crises. Students understand the various existing roles in SMEs. Consequently, they can distinguish, interpret and proactively address the communication and behavior of different role occupants.

Selling & Sales Training

Lecture content:

This course conveys selling techniques and practices and focuses on content and structure of typical selling processes: - Preparing for sales talks: self-motivation, sourcing information and evaluating (potential) customers - Drawing up a so-called one pager - Initiating contact personally and via the phone - Communications for dialogues with new customers and "warm" calls: how to initiate a conversation and determine needs, explain an offer, build arguments and deal with objections, conclude conversations, design follow-up talks and support, document sales talks/customer contact (visit reports) Moreover, the course discusses the particularities of price negotiations and complaints management, as well as telephone selling.

Learning Outcomes:

Upon completing this course, alumni are capable of successfully executing typical selling situations that are based on practice-oriented application examples and exercises. They are familiar with the current design and structure, as well as the methods of sales conversations and know how to apply these.

Superior module:

Distribution

Module description:

Students understand sales and distribution as a strategic field and operative activity in the SME context. They are aware of the relevance of distribution and key account management in the value chain. They know how to create a distribution plan and how to execute successful sales conversations.

Social Skills

Lecture content:

The course covers topics in the fields of communication, rhetoric, presentation and moderation: - Human perception - Principles, models and techniques of rhetoric (voice, body language, gestures, facial expressions), question techniques for efficient communications - Principles, models and techniques of teamwork - Strategies to convince - Defining and analyzing presentation goals and target groups - Making a target-group oriented presentation - Determining a presentation structure (composition, structure, guiding thread, dramatic composition) - Using rhetorical means - Using presentation media - Preparing and executing a presentation - Principles and techniques of successful moderation of work groups - Typical phases of moderation - Using technology and moderation tools - Preparing and executing a moderation

Learning Outcomes:

Upon completing this course, alumni have found their individually effective communication and presentation styles. They are able to authentically but also adequately communicate for the situation and system. They make convincing and effective presentations using their individual presentation styles. Alumni know how to efficiently moderate work groups. They recognize team processes to optimize working in teams. They are capable of convincing by arguing with clear statements, and of applying negotiation techniques.

Superior module:

Social Competencies

Module description:

Students determine their individually effective communication and presentation styles. They are able to communicate authentically but also adequately for the situation and system. They are capable of moderating work groups efficiently. Students know how to recognize, assess and adequately address risk situations and crisis scenarios in SMEs. They are aware of the required competencies and organizational conditions in risk situations and crises. Students understand the various existing roles in SMEs. Consequently, they can distinguish, interpret and proactively address the communication and behavior of different role occupants.

Work Placement

Lecture content:

Students are fully involved in professional activities related to the contents of the degree program with an operating business. The tasks the students work only should be closely related to the focal points of the program. Thus, students assume activities closely related to the degree program regardless of the industry or company type of the small or medium-sized business that provides them with work placement. In order to meet the criteria of the work placement, students work on projects in one or several departments contributing complex tasks that related to the contents of the degree program.

Learning Outcomes:

Upon completing this module, alumni are familiar with the corporate and social environment, as well as with processes and organizational structure, of small and medium-sized enterprises. They have acquired the capability to work on complex problems under supervision and to independently execute tasks. They have learned to integrate into teams and collaborate across departments or corporate fields.

Superior module:

Work Placement

Module description:

Upon completing this module, students are familiar with the corporate and social environment, as well as with processes and organizational structure, of small and medium-sized enterprises and have gained professional experience.

Bachelor Paper & Coaching Seminar Summer Semester

Lecture content:

Students present and reflect on their progress and defend their work before teachers and peers.

Learning Outcomes:

..

Superior module:

Bachelor Factory 2

Module description:

By drawing up a bachelor thesis, students demonstrate their ability to individually apply scientific methodology and discussion on a task relevant to their field of studies within a set timeframe and to present resulting findings in a clear and structured way. Students understand how to identify the problem content of a task, systemize their thoughts, structure contents, find results by applying appropriate methods and argue their findings in a convincing way.

Cyber Security

Lecture content:

This course covers entrepreneurial responsibility in terms of IT and data security. It presents fundamental technological and organizational concepts, procedures and steps. The course discusses, analyzes and assesses various threat scenarios.

Learning Outcomes:

Upon completing this course, alumni possess basic knowledge on threat scenarios, as well as on how security measures for IT systems work and how effective they are.

Superior module:

Outlook

Module description:

Upon concluding the degree program, students learn about the changes that will in future coin the business practice of SMEs. They are open towards new economic and societal developments and have shed the blinkers that limit their view to the daily operations and thus have enlarged their action scopes. They understand how to critically reflect so to also recognize blind spots in their own knowledge and skills.

Digital Economy

Lecture content:

This course discusses the comprehensive future socio-economic, micro and regio-economic changes. It explores automation and AI for their impact on employment and the new tasks that will arise. There is a particular focus on the changes in consumption behavior: new learning forms, herd behavior, surveillance capitalism, imitating the competition, demonstrating consumption and building trust on the net will be pivotal for future SME success. The course analyzes the above-mentioned changes in order to determine the positioning of SMEs in this world of platforms and indirect networks. It discusses empirical knowledge in order to interpret future societal and political developments, as well as assesses their relevance on the economy of the various aspects of life.

Learning Outcomes:

Upon completing this course, alumni are aware of and open to societal and economic change. This allows for looking beyond the horizon of daily business and thus enables SMEs to reflect on change. The such achieved action potential considerably increases the scope of alternatives that alumni can contribute.

Superior module:

Outlook

Module description:

Upon concluding the degree program, students learn about the changes that will in future coin the business practice of SMEs. They are open towards new economic and societal developments and have shed the blinkers that limit their view to the daily operations and thus have enlarged their action scopes. They understand how to critically reflect so to also recognize blind spots in their own knowledge and skills.

Graduation Exam

Lecture content:

Graduation Exam

Superior module:

Graduation Exam

Module description:

...

New Business Models & Responsibility

Lecture content:

- Social entrepreneurship: definition, classification within the field of sustainable enterprises, delimitation from NPOs, societal and legal requirements - Business models: theoretical principals and orientation - Particularities of management of social business ventures

Learning Outcomes:

Upon completing this course, alumni are familiar with the concept of new business models. They understand that these businesses - typically SMEs or owner-managed companies - are not merely profit oriented. They know that sustainability can be integrated in the value proposition, overall performance and value creation. Based on this understanding, alumni can derive management challenges and know how to achieve economic success, as well as non-monetary added value for the regional environment.

Superior module:

Outlook

Module description:

Upon concluding the degree program, students learn about the changes that will in future coin the business practice of SMEs. They are open towards new economic and societal developments and have shed the blinkers that limit their view to the daily operations and thus have enlarged their action scopes. They understand how to critically reflect so to also recognize blind spots in their own knowledge and skills.

SME Promotion

Lecture content:

This course provides students with an overview of regional, domestic and international SME promotion opportunities. It features the Austrian chamber of commerce along with political initiatives to promote location as a major corner stone of founding infrastructure and promotion of small and medium-sized businesses. The course covers the key elements of start-up promotion as well as economic promotion for SMEs in order to help students identify and discuss the potentials of investment, innovation and employee support. Moreover, the course provides insights for making and evaluating applications to domestic and international promotion providers. Apart from discussing the evaluation procedure, the key criteria for evaluations and decisions, as well as the most frequent mistakes made in applications, are highlighted.

Learning Outcomes:

Upon completing this course, alumni are familiar with the Austrian and the regional start-up and company establishment infrastructure, as well as the varieties of SME promotion. They are capable to avoid common mistakes in applications thus reducing search or information costs.

Superior module:

Regional Contexts

Module description:

Students acquire a deep understanding of the regio-economic allocation of resources and the interdependence between entrepreneurial action (cooperation, networks) and their regio-economic and/or global implications. They are familiar with a range of analytical concepts and theories in this context, which allow to model the manifold relations to SMEs in order to be able to anticipate the reactions to the SMEs` own behavior. Upon completing this course, students are able to interpret economic developments in such way that allows them to anticipate rather than just passively tolerate the impacts of global or regio-economic changes for SMEs. They have acquired the tools to analyze the strategic interdependence of economic agents. They are familiar with the signifi-cance of regional capital for business success and understand how relevant it is for the company's management to be regionally embedded in the agent system. Equally, they are aware of opportunities of SME promotion.

SMEs & the Region

Lecture content:

This course discusses the manifold relationships between regio-economic environment and corporate action potentials for small and medium-sized businesses. It highlights that SMEs do not just have to tolerate regional economic changes but that they can anticipate these changes and actually co-model them on a regional, political level. In contrast to an abstract strategic fit between businesses and their environments, the course explores how SMEs are actually interlinked with and embedded in the region. To achieve this, the following topics are discussed: why do agglomerations and company clusters form? How do innovation and qualified workforce contribute to the economic success of a region? This course conveys the principles of location theory and regional economy focusing on the particularities of the regional structures of SMEs thus deviating from neo-classical microeconomic and/or macroeconomic theories. In the light of the current economic changes (globalization, glocalization, digitalization), the course analyzes the basic structures, processes and deriving opportunities and risks for SMEs. To do so, relevant cases that highlight regional economic differences will be presented. The course discusses clusters and cluster commons in order to show the informal institutions of a region. The regional social capital ties of SMEs minimize transaction costs and serve as a backdrop for the relationships SMEs entertain with their environment.

Learning Outcomes:

Upon completing this course, alumni are aware of the profound significance of SMEs being embedded in the regional economy. These regional ties of SMEs are a key success factor and have experienced a considerable surge in theoretical consideration in comparison to globalization. Alumni understand that especially the social capital tied up in cluster commons, as well as the multiple informal institutions, promote not only regional but also SME growth.

Superior module:

Regional Contexts

Module description:

Students acquire a deep understanding of the regio-economic allocation of resources and the interdependence between entrepreneurial action (cooperation, networks) and their regio-economic and/or global implications. They are familiar with a range of analytical concepts and theories in this context, which allow to model the manifold relations to SMEs in order to be able to anticipate the reactions to the SMEs` own behavior. Upon completing this course, students are able to interpret economic developments in such way that allows them to anticipate rather than just passively tolerate the impacts of global or regio-economic changes for SMEs. They have acquired the tools to analyze the strategic interdependence of economic agents. They are familiar with the signifi-cance of regional capital for business success and understand how relevant it is for the company's management to be regionally embedded in the agent system. Equally, they are aware of opportunities of SME promotion.

Socio-economic Agents Systems

Lecture content:

Drawing on the theory that economic decision considerations are embedded in social contexts, this course analyzes the particularities of values and their evolution in SMEs which deviate considerable from simple homo economicus models. This highlights the values of attitudes and environment-conditioned decisions for company success. Accordingly, the course discusses responsibility and community spirit, the ethics of securing workplaces in the region to foster corporate identity, corporate citizenship to reduce transaction cost of strategy implementation steps and counteract value rigidities that hinder innovation. The socio-economic embeddedness of entrepreneurial decisions thus enables SMEs to develop their particularities.

Learning Outcomes:

Upon completing this course, alumni understand the relevance of formal and informal institutions, of networks and cooperation as a basis for business success. They are able to reflect on the agent-specific social and economic coherences and derive criteria for business practice.

Superior module:

Regional Contexts

Module description:

Students acquire a deep understanding of the regio-economic allocation of resources and the interdependence between entrepreneurial action (cooperation, networks) and their regio-economic and/or global implications. They are familiar with a range of analytical concepts and theories in this context, which allow to model the manifold relations to SMEs in order to be able to anticipate the reactions to the SMEs` own behavior. Upon completing this course, students are able to interpret economic developments in such way that allows them to anticipate rather than just passively tolerate the impacts of global or regio-economic changes for SMEs. They have acquired the tools to analyze the strategic interdependence of economic agents. They are familiar with the signifi-cance of regional capital for business success and understand how relevant it is for the company's management to be regionally embedded in the agent system. Equally, they are aware of opportunities of SME promotion.

Trends in HR Management & Organization Development

Lecture content:

This course covers topics of human resource management and the development of organization and cooperation forms in SMEs that will be relevant in the future. Drawing on past and present, the course discusses future trends.

Learning Outcomes:

Upon completing this course, alumni are able to assess and proactively react to trends in human resource management and the development of organization and cooperation forms in SMEs based on a profound understanding of the past.

Superior module:

Outlook

Module description:

Upon concluding the degree program, students learn about the changes that will in future coin the business practice of SMEs. They are open towards new economic and societal developments and have shed the blinkers that limit their view to the daily operations and thus have enlarged their action scopes. They understand how to critically reflect so to also recognize blind spots in their own knowledge and skills.