What is a firm's profit potential, and how can we assess whether it is reaching its potential?
This course equips you with the essential knowledge and skills to address these core questions. The course will provide an understanding of why the competitive environment is essential for assessing the profit potential of both industries and individual firms, alongside the skills to measure and evaluate firm profitability using a combination of strategic, costing, and pricing analyses, with a particular focus on accounting techniques such as Activity-Based Costing (ABC).
Despite its focus on profitability, this course also considers sustainability and ethics. Managing businesses today requires an understanding of how environmental, social, and governance (ESG) factors influence profitability. You will learn tools to analyze how firms prioritize sustainability issues and explore the extent to which businesses can achieve financial success while contributing to societal good.
This course also blends theory with practice. Industry partners will provide case studies, and students will visit company premises, work on real-life business challenges, and present their solutions. By applying your knowledge to practical business problems, you will develop the ability to assess and balance multiple considerations in decision-making, including financial, ethical, and sustainability factors.