Course code VadZ5095

Credit points 3

Business Planning and Controlling

Total Hours in Course120

Number of hours for lectures12

Number of hours for seminars and practical classes24

Independent study hours84

Date of course confirmation19.01.2022

Responsible UnitInstitute of Business and Management Science

Course developers

author prof.

Anita Auziņa

Dr. oec.

author prof.

Andra Zvirbule

Dr. oec.

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 course focuses on the development of groups of common indicators for analysing and controlling plans of various levels and planning indicators by means of elements of controlling.
The aim of the study course is to provide students with in-depth knowledge and skills in the development and creation of business planning system knowledge, using planning and control methodology.

Learning outcomes and their assessment

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 - 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
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)

1. The essence of planning. Significance and functions of planning. Planning tasks in the company. Purpose of planning. The subject of planning. Types of planning. The main problems of planning. Planning criteria and levels. Planning principles and methods. (lectures 2 hours, practical work 2 hours)
2. Planning system in the company. Planning levels and responsibilities - functional systems. Types of plans and their main tasks in the company - as a unified system. System plans - their necessity and connection with the company's structure. Functional plans. Company plans. (lectures 2 hours)
3. Targeting. Financial perspective. Customer perspective. Employee perspective. Process perspective. Guidelines for Implementing Targeting. (practical work 2 hours)
4. System planning using SWOT, Business canvas, Critical path methods (practical work 4 hours)
5. The essence of controlling, functions, tasks, methods and tools. The main tasks of controlling. The main methods and tools of controlling. Classification of controlling objects. The role of information system in controlling. (lectures 2 hours)
6. Planning directions and strategies for creating a controlling system, drawing of strategies. (Case study, group work - 3 hours)
7. Controlling instruments and their application. Potential planning and identification of controlling indicators. Strategic controlling - distinguishing planning “fields”, regions, functions. Operational controlling. Production / product controlling. Process controlling. (lectures 2 hours)
8. Revenue and Cost controlling calculations for a specific planning problem (practical work 3 hours, test with calculations 2 hours)
9. Solving the problem of product strategy and product plan with ABC / XYZ method- (practical work 3 hours, test with calculations 3 hours)
10. Establishment of a control system - basic indicators of system development, establishment of a reporting and accounting system for control, determination and analysis of indicators. (lectures 2 hours)

11. Decision making on the application of control in the company - (lectures 2 hours, practical work 2 hours)

Requirements for awarding credit points

The course includes two tests with calculations. Practical works and group work to be done during practical work in the classroom. At the end of the course, there is an exam.

Description of the organization and tasks of students’ independent work

Within the framework of the study course description for independent work is given 84 hours. Independent studies (work) are organized as follows: preparing for practical work and group work (4 hours); learning and preparing for tests with calculations (16 hours for each test); learning/ preparing for an exam (48 hours).

Criteria for Evaluating Learning Outcomes

The final grade in the study course is formed by:
20% Practical assignments, practical group work, case studies - Assignments for developing systemic knowledge of business planning
20% test with calculations - Revenue/cost control calculations for a particular planning problem;
20% 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 - Assessment of a system of plans in an enterprise. Application of controlling instruments

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. G. Biznesa ekonomika. 3 izdevums. Rīga: RTU, 2019. 604 lpp.
3. Johnson G., Whittington R., Scholes K., u.c. Exploring Strategy: Text and Cases. G. Johnson, R. Whittington, K. Scholes u.c. UK: Pearson Education Limited, 2017. 797 p.
4. Caruso G.R. The Art of Business Valuation: Accurately Valuing a Small Business. Haboken: John Wiley & Sons, 2020. 407 p.
5. Hacioglu U. Digital Bisiness Business Strategies in Blockchain Ecosystems: Transformational Design and Future of Global Business. Switzeland: Springer Nature, 2020. 647 p.
6. Pramudita C. D. The Balanced Scorecard As Strategic Controlling Instrument. Introducing the Indicators-based BSC for Implementation of a Corporate Strategy From Four Different Perspectives. Hamburg: Anchor Academic Publishing. 2016. e-book, EBSCO data base. 2016 Resurss pieejams ar LLU IS lietotājkontu. Pieejams:
7. Sliwczynski B., Kolinski A. Controlling Supply Chains: Theory and Practice. New York: Nova Science Publishers, 2016. / e-book, EBSCO data base, 2016 Resurss pieejams ar LLU IS lietotājkontu. Pieejams:
8. Cowher S. J., Dickson L. S. Effective Planning Strategies and Proposal Writing: A Workbook for Helping Professionals. Lanham, Maryland: University Press of America, 2010. / e-book, EBSCO database, 2010 Resurss pieejams ar LLU IS lietotājkontu. Pieejams:

9. Elkin P. Mastering Business Planning and Strategy: The Power and Application of Strategic Thinking. London: Thorogood Publishing, 2007. / e-book, EBSCO database, 2007 Resurss pieejams ar LLU IS lietotājkontu. Pieejams:

Further reading

1. Rurāne M. Uzņēmējdarbības organizācija un plānošana. Rīga: Biznesa augstskola Turība, 2002., 330 lpp.
2. Slavinska I. Uzņēmējdarbības plānošana un kontrole. Rīga: 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. Rīga., : Biznesa augstskola Turība, 2004., 114 lpp.
5. Baaij M., Reinmoeller P. Maping Mapping a Winning Strategy: Developing and Executing a Successful Strategy in Turbulent Markets. : United Kingdom; North America: Emerald Publishing, 2018. 248 p.
6. Vollmann T. E., Berry W. L., Why D. C. Manufacturing planning and control systems. Homewood, IL: Irwin, 1988., 904.p p.
7. Alexander J. Financial planning & analysis and performance management. Hoboken, New Jersey: , John Wiley & Sons, 2018. , 612. pp.
8. Besanko D., Dranove D., Shanley M., Schaefer S. Economics of strategy. Hoboken, N.J.: Wiley & Sons, 2017. 520. Pp.
9. Dagnino G. B., Cinici M. C. Research methods for strategic management: a research methods handbook. New York: Routledge, 2016. , 377. pp.

10. Neely A. D. Business Performance Measurement: Theory and Practice. Cambridge: Cambridge University Press, 2002. / e-book, EBSCO data base. 2002 Resurss pieejams ar LLU IS lietotājkontu

Periodicals and other sources

1. Dienas Bizness: nedēļas laikraksts. ISSN 1407-2041
2. Forbes. "SK Media" SIA. Rīga: Forbes. ISSN 1691-6018
3. Harward Business Review: Harvard Business School Publishing. ISSN 0017-8012
4. European Journal of Management and Business Economics. ISSN 2444-8451 Elsevier data base
5. International Strategic Management Review. ISSN 2306-7748 Elsevier data base

6. European Research on Management and Business Economics. ISSN 2444-8834 Elsevier data base


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