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Business Planning and Controlling

Course developer

Replaced course

VadZ5095 [GVAD5095] Business Planning and Controlling

Course abstract

The course provides students with an in-depth knowledge of business planning and a methodology therefor, systematization of plans, including targeting all the levels of business planning, development of systemic plans and interconnection among them as well as efficiency assessment of the plans by applying the controlling methodology. The objective of the course is to acquire knowledge and skills in analysing and controlling different levels of plans and planning indicators using controlling elements.

Learning outcomes and their assessment

Knowledge
1. Demonstrate an in-depth knowledge of the nature and role of planning in business and a methodology of planning- practical assignments, an examination
2. Demonstrate the knowledge and understanding of regularities concerning systemic planning in business- practical group assignments, an examination
3. Demonstrate a conceptual knowledge and understanding of regularities among indicators of planning and controlling- practical assignments, tests with calculations, an examination
Professional skills
4. Independently assess a system of plans in an enterprise by applying the analytical approach- an examination
5. Reasonably explain and discuss systemic business planning matters - practical group assignments
6. Independently apply statistical and mathematical analysis methods in systemic business planning - practical assignments, a test with calculations
7. Independently apply planning theory regarding planning and controlling approaches - case studies, group work, an examination
Soft skills
8. Independently employ theory, methods and problem-solving skills - tests, an examination
9. Find, critically assess, and creatively use information for assignments and solving problems - practical group assignments, case studies
10. Cooperate and communicate with others - practical group assignments, case studies
11. Define and critically analyse business planning problems, justify the solutions and decisions made and, if necessary, do an additional analysis - practical assignments, an examination
Competence
12. Integrate knowledge and skills from various fields into an assessment of the system of plans for an enterprise - an examination
13. Independently solve planning problems and apply a controlling methodology in making decisions - tests with calculations, an examination

Course Content(Calendar)

Full time intramural studies:
1.Concept, nature and scope of planning (Lectures - 4 hours)
2.Planning methodology (Lectures - 1 hour; Practical work - 2 hours)
4. Planning system in the enterprise. (practical work - 4 hours)
5. Target-oriented planning. (Lecture - 1 hour; practical work - 4 hours)
6. Planning norms and standards system. (Lecture - 1 hour)
7. Practical Work - Case Studies Enterprise Planning System and Coherent Targeting in Planning (4 hours)
8. Economic efficiency and quality of planning (Lecture - 2 hours; practical work - 4 hours)
9. Test with calculations: Revenue/cost control calculations for a particular planning problem (4 hours)
10. Nature, functions, tasks, methods and instruments of controlling. (Lecture - 1 hour)
11. Instruments of controlling, their application, organisation of controlling. (Lectures - 2 hours; Practical work - 2 hours)
12. Test with calculations - Product Strategy and Solving a problem of a Product Strategy and a Product Plan by the ABC/XYZ method (4 hours)

Requirements for awarding credit points

The course includes tests with calculations. Practical works, case studies and group work to be done during practical work in the classroom. At the end of the course, there is an exam consisting of a face-to-face exam (scheduled for the exam).

Description of the organization and tasks of students’ independent work

Within the framework of the study course description for independent work is given 95 hours. Independent studies (work) are organized as follows: preparing for practical work and group work (5 hours); learning and preparing for tests with calculations (10 hours for each test); learning/ preparing for an examination (60 hours).

Criteria for Evaluating Learning Outcomes

The final grade in the study course is formed by:
10% case analysis on the planning system in the company and coherent objectives in planning
25% test with calculations - Revenue/cost control calculations for a particular planning problem;
25% test with calculations - Product Strategy and Solving a problem of a Product Strategy and a Product Plan by the ABC/XYZ method;
40% an examination of all topics

Compulsory reading

1. Diderihs H. Uzņēmuma ekonomika / Tulk. no vācu val. M. Balaško, K. Didenko, J. Kipsna u.c., galv. zin. red. R.Škapars – Rīga: Zinātne, 2000. – 515 lpp.
2. Hofs K. Biznesa ekonomika. 2.izdevums.- Rīga: Jāņa Rozes apgāds, 2010. – 603 lpp.
3. Hofs K. G. Biznesa ekonomika. Rīga, 2002.-559 lpp
4. Ščeulovs D., Plēgmans N. Atspēriena punkts veiksmīgai uzņēmējdarbībai. Mācību līdzeklis (uzņēmēja rokasgrāmata). Rīga: RTU izdevniecība, 2022. 128 lpp. ISBN: 978-9934-22-670-0
5. Morrison R. Organizational Planning and Analysis. Building the Capability to Secure Business Performance. UK: Kogan Page, 2022, 367 p. ISBN: 978-3-3986-0581-7
6. Pramudita Ch. D. The Balanced Scorecard as Strategic Controlling Instrument. Introducing the Indicators-based BSC for Implementation of a Corporate Strategy From Four Different Perspectives / e-book, EBSCO data base, 2016
7. Morrison R. Organizational Planning and Analysis. Building the Capability to Secure Business Performance. UK: Kogan Page, 2022.367 p. ISBN: 978-3-3986-0581-7
8. Ebener, D. R., & Smith, F. L. (2015). Strategic planning: an interactive process for leaders. Paulist Press. e-book, EBSCO data base
9. Lynch, R. (2018). Strategic management. Pearson UK.
10. Frynas, J. G., & Mellahi, K. (2015). Global strategic management. Oxford University Press, USA.

Further reading

1. Rurāne M. Uzņēmējdarbības organizācija un plānošana. Biznesa augstskola Turība, 2002., 330 lpp.
2. Slavinska I. Uzņēmējdarbības plānošana un kontrole Biznesa augstskola Turība, 2003.
3. Kalve I. Apseglot pārmaiņu vējus. Stratēģiskā un pārmaiņu vadība. - Rīga: Biznesa augstskola Turība, 2005., 293 lpp.
4. Zvirbule-Bērziņa A., Mihejeva L., Auziņa A. Plānošanas un ražošanas procesa organizēšanas pamatprincipi. -R., Biznesa augstskola Turība, 2004., 114 lpp.
5. Lauer T. Change Management: Fundamentals and Success Factors. Germany: Springer, 2021., 248 pp. ISBN: 978-3-662-62189-9
6. McCabe D. Changing Change Management: Strategy, Power and Resistance. New York, NY: Routledge, 2020. 215 pp. ISBN: 978-1-03-217593-5
7. Vollmann T. E., Berry W. L., Why D. C. Manufacturing planning and control systems. Homewood, IL, Irwin, 1988, 904 pp.
8. Smallwood R. Information Governance: Concepts, Strategies and Best Practices. Hoboken, New Jersey: John Wiley & Sons, 2020. 524 pp. ISBN: 978-1-119-49144-6
9. Alexander J. Financial Planning & Analysis and Performance Management. Hoboken, New Jersey, John Wiley & Sons, 2018, 612 pp.
10. Besanko D., Dranove D., Shanley M., Schaefer S. Economics of strategy. Hoboken, N.J. Wiley & Sons, 2017. 520 pp.
11. Dagnino G. B., Cinici M. C. Research methods for strategic management: a research methods handbook. New York, Routledge, 2016, 377 pp.
12. Business Performance Measurement : Theory and Practice / e-book, EBSCO data base, 2002

Periodicals and other sources

1. Dienas Bizness : nedēļas laikraksts: ISSN 1407-2041
2. Harvard Business Review ISSN 0017-8012
3. European Journal of Management and Business Economics: ISSN 2444-8451 Elsevier data base
4. International Strategic Management Review: ISSN 2306-7748 Elsevier data base
5. European Research on Management and Business Economics: ISSN 2444-8834 Elsevier data base

Notes

Compulsory course for the ESAF Professional Master's Degree Program Business Management