Business Economics for Engineers

Hanken School of Economics

How long?

  • 4 days
  • in person

What are the topics?

Hanken School of Economics

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Who should attend

Business economics for engineers is for anyone with a technical education, a Bachelor's or Master's of Science in Engineering, with a few years of work experience, with a need to strengthen and broaden their business skills.

A total of 20 participants can take part in the programme.

About the course

Build greater confidence in your decision-making and achieve better profitability by demystifying finance and business economics. Through economic analysis, governance and balance you get a deeper understanding of your business and the main drivers of value. Business economics for engineers will broaden your expertise in business economics to help you see the bigger picture.

In the programme, you will improve your understanding of creating a basis for company reports, and interpret income statements and balance sheets. You will explore the purpose and uses of different calculations, and gain basic knowledge of contract law and tools and tips of how companies can implement a strategic way of working and how to develop their business and strategies to reach their long-term goals.

Content & structure

Module 1 Financial analysis, financial planning and follow-up

Financial analysis, financial planning and follow-up

  • Basic accounting concepts
  • Financial links between business processes
  • The links between the income statement, balance sheet and cash flow statement
  • Analysing annual accounts
  • Financial key ratios (ROI, EBIT etc.)
  • Financial management from a corporate perspective

Financial analysis, financial planning and follow-up continued

  • Cost accounting
  • Contribution costing
  • Absorption costing
  • Budgeting
  • Different types of budgets
  • Using calculations for decision making

Module 2 Contract law, corporate strategy, Excel & Power BI

Contract law

  • Agreement strategy
  • General terms and conditions
  • Delivery and transport of goods and risk transition
  • Payment
  • Review of goods and liability

Corporate strategy

  • Basic concepts
  • The strategy process
  • Selected strategy tools
  • Strategic analysis, market analysis and trends
  • Strategy implementation

Excel & Power BI

  • Repetition of basic calculation
  • Handling larger amounts of data
  • KPI – Key Performance Indicators
  • PIVOT
  • From Excel data to visual reports via Power BI

Benefits and value

  • Understanding business concepts and relationships in order to get greater confidence in making decisions, both operational and strategic
  • Improving the ability to use and understand basic accounting concepts by using key financial ratios
  • Learning how to analyse the company from different points of view
  • Understand where the company makes its money by going through the purposes and uses of different calculations
  • Learning how to calculate and analyse investments
  • Getting basic knowledge in contract law
  • Looking at the company based on strategic processes
  • Learning how to create visual reports via Power BI

Faculty

The faculty consists of professional lecturers from Hanken and experienced industry experts. If you wish to take a closer look at the profiles of the lecturers, please contact us and we will send you further information.

Methods

Our lectures are based on active learning where the dialogue and exchange of experience between the participants is very important.

The programme combines theoretical and practical aspects both in the content, and methods. You will get tools and skills to understand different business processes that affect the work within the organisation. The programme combines both individual exercises and group exercises relevant to your business. During the programme days, participants have access to our digital learning environments.

Business Economics for Engineers at Hanken School of Economics

From  EUR 2 790$3,440
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Disclaimer

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Full disclaimer.

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