Course code Ekon6001

Credit points 2

Food and Entrepreneurship

Total Hours in Course80

Number of hours for lectures16

Number of hours for seminars and practical classes16

Independent study hours48

Date of course confirmation20.01.2015

Responsible UnitInstitute of Business and Management Science

Course developer

author Ekonomikas un reģionālās attīstības institūts

Dina Popluga

Dr. oec.

Prior knowledge

PārZ5021, Food Legislation

Course abstract

The study course is based on principles of entrepreneurship and economy science taking into account particularity of the production technology. The course aims to gain in-depth knowledge of the economics of food business, its organization and the regulatory framework affecting food production. The course program is designed to enable master students to critically and comprehensively analyze the competitiveness of the food markets and food products. The focus of the course is food production technologies and economic interrelationships in the context of entrepreneurship, as well as in the context of world, European Union, Baltic and Latvian EU food markets. The course provides students with theoretical and specialized knowledge, as well as practical skills in the food entrepreneurship development.

Learning outcomes and their assessment

• Knowledge – in-depth and specialized knowledge on the role of the food; economic aspects of food production and consumption, problems and trends in the global, the European Union and Latvian level; the food chain and factors influencing it. Critical understanding of resources for food production and their role in the food entrepreneurship; of economic activity of food production enterprise and its planning.
Knowledge is assessed by the following methods: discussions, group work, presentation.
• Skills – well developed skills to assess the disparities of economic conditions in the food industry; to see the problems, contradictions, and the development of the main factors influencing the food sector, sub-sector; to be able to analyze and evaluate operations of food enterprise and to establish calculation-based product development strategy.
Skills are assessed using the following methods: tests, situation analysis.
• Competences - demonstrates advanced competencies in the development of food business, using the acquired knowledge of the economic aspects of the food industry and specialized skills in planning business and product development strategies.
Competences are assessed by the following methods: discussions, group work, presentation.

Course Content(Calendar)

Lectures
1. The essence of the concept of food. The social importance of food, its various aspects. The economic importance of food. Economic aspects of food production and consumption, problems and trends in the world. (2 h)
2. Description of the European Union's food sector. Characterization of Latvian food industry. The legal and institutional framework of the food industry. (2 h)
3. Food processing and life cycle. Food production resources and their role in food business. (2 h)
4. Food business planning, business subjects and their interaction, new business ideas and their assessment techniques, basic principles of business model selection, business idea and its protection. Business planning and business start-ups. (2 h)
5. Forms of entrepreneurship. Support for business development. The role of domestic producers in the Latvian food sector. (2 h)
6. Pricing the product. Company revenue and loss point. Supply of material resources and inventory management. (2 h)
Practical works and seminars
1. Food product life cycle assessment. (1 h)
2. Supply of raw materials to a food company. (2 h)
3. The most important external-economic indicators of the selected food group. (2 h)
4. Test 1 - Calculations of production costs, revenues, profits of the food business. (2 h)
5. Test 2 - Estimates of price formation and impact on the financial performance of a food business. Developing a product strategy using the ABC / XYZ method. (2 h)
6. Seminar - presentation on the assessment of the external economic factors of production / processing of the selected food/ product group. (3 h)

Requirements for awarding credit points

A test with a mark is obtained if the student writes 2 tests with a successful evaluation and presents a study on the assessment of the external economic factors of the selected food/ product group production/ processing.

Description of the organization and tasks of students’ independent work

Students choose a specific food product. The selected product should be evaluated according to the most important business influencing factors, including data, analysis and interpretation. Each of these factors should be justified with data or expert assessments, quotes from business sources. Key conclusions and suggestions for improving the selected food industry should be provided.

Criteria for Evaluating Learning Outcomes

Assessment of the study course is accumulative: 1st test on product cost and revenue planning and analysis makes 25% from final mark; 2nd test on the strategy of food product grouping makes 25% from final mark; presentation of study on the assessment of the external economic factors of the selected food/ product group production/ processing makes 50% from final mark.

Compulsory reading

1. Bunte F., Dagevos H. (2009) Food Economy: Global Issues and Challenges. Wageningen Academic Publishers, eBook.
2. Blundel R., Lockett N., Wang C. Exploring Entrepreneurship. Second ed. Sage Publications Ltd, 2018. 458 p. ISBN 978-1-4739-4807-5
3. Zvirbule-Bērziņa A., Mihejeva L., Auziņa A. Plānošanas un ražošanas procesa organizēšanas pamatprincipi. Rīga: Turība, 2004, 143 lpp.

Further reading

1. Conforti P. (ed.) (2011) Looking ahead in world food and agriculture: perspectives to 2050. Rome: FAO, 539 pp.
2. Paarlberg R. L. (2010) Food Politics: What Everyone Needs to Know. New York: Oxford University Press, eBook
3. Pilvere I., u.c. (2014) Latvijas pārtikas nozares konkurētspējas rādītāju salīdzinošā analīze Latvijā, Lietuvā, Igaunijā, Polijā un Krievijā: zinātniska monogrāfija. Jelgava: Latvijas Lauksaimniecības universitāte, 200 lpp.

Periodicals and other sources

1. Kapitāls: žurnāls lietišķiem cilvēkiem, krāsains biznesa un ekonomikas žurnāls. Rīga: SIA Izdevniecība IKK. ISSN 1407-2505
2. AS Attīstības finanšu institūcija ALTUM - https://www.altum.lv/lv/pakalpojumi/uznemumiem/
3. Latvijas Investīciju un attīstības aģentūra - http://www.liaa.gov.lv/lv/fondi/2014-2020
4. Latvijas Republikas tiesību akti - www.likumi.lv
5. TOP 500: Latvijas lielākie uzņēmumi: Laikraksta Dienas Bizness pielikums. Rīga: Dienas Bizness, 2018. 240 lpp.

Notes

Compulsory study course for Food Technology Faculty academic master's study program “Food Science”