Managerial Economics

This course concentrates on the detailed study of microeconomic concepts and models using quantitative problems and case examples. The emphasis is on the application of price theory to the behaviour of customers and the producers, production and cost theory, market models.

Behavioural and Organizational Concepts for Management

This course focuses on the application of behavioural science theory to an understanding of organizational structure, behaviour and performance. Topics included are environmental influences on individual behaviour in organizations, motivation, learning, communication, group formation, group dynamics, organizational processes and design, as well organizational change.

Human Resource Management

Students are provided insight into human resource management systems and their evaluation as well as human resource planning, job analysis and descriptions. Also the topics of employee recruitment, selection and training will be looked at during the entire course as well as performance evaluation and developing employee relations and communications. Compensation management, labour legislation and union issues are also addressed.
Assessment-1 presentation, 6 quizzes and both mid-term and final exams.

Marketing Management

The course focuses on management decision - making: on the analysis, planning and control of marketing programs. Text material and lectures provide the background theory, and conceptual frameworks useful in solving marketing management problems. Topics covered in the course include: the marketing concept; segmentation; product differentiation; consumer and industrial buyer behaviour; marketing planning; product decisions; pricing decisions; advertising and promotion decisions; selling and distribution decisions; and social, legal and ethical issues in marketing. Marketing problems in the form of management case studies provide opportunities for the practical application of concepts and tools covered in the readings. A number of classes during the term will be spent on cases.

Financial and Managerial Accounting

This course includes mastering of principles and organization of Financial and Managerial Accounting. The first part of the course includes mastering of double entry system, preparation of income statement and balance sheet. The second part includes analysis of financial and accounting information and the educated use of this information for managerial decision-making.

Managerial Statistics

Basic concepts of probability and statistics used in management are presented. Topics include data analysis and display, descriptive measures, random variables, probability distributions, inference, an introduction to analysis of variance and regression analysis, time series analysis, and statistical applications to quality control, as well as model usage and statistical communication. Management applications using case studies/examples and computer packages are emphasized.
Assessment-5 written assignments, 2 written case analyses, a mid-term and final exam.

Financial Management

The course begins with a discussion of basic concepts: financial statements and financial ratios, time value of money, valuation of stocks and bonds. Portfolio risk and return and capital asset pricing model are also introduced. Later in the course students learn about different types of securities and the cost of capital. Capital budgeting, leasing analysis and working capital management are introduced as well.
Assessment-3 written assignments and a mid-term and final exam.

Management Information Systems

This course is about the strategic importance of information systems (IS) and their impact on business processes in organizations. It provides students with an understanding of the ways in which managers can utilize IS. This course is neither computer science course nor computer usage course. The purpose of this course is to help the student understand and appreciate the relationship between organizational goals and information technology. This course includes the overview of hardware, software and main paradigms of IS development.
Assessment-1 group project presentation, a mid-term and final exam.

Strategic Management

Strategic management is the study of the process of formulating and implementing business and corporate strategic plans and evaluating management strategic performance in complex business environments. Topics included are the corporate mission and objectives, industry analysis, competitive analysis, environmental analysis, business strategy, financial strategy, corporate portfolio planning, acquisitions and divestments, organizational implications, international strategy, and entrepreneurship.

Master Thesis

Master Thesis is an independent practical work involving the analysis of a specific managerial problem and the evaluation of the results of the analysis. The analysis serves as the basis for developing specific proposals and implementing the appropriate solution of the problem.

MBA thesis is a practical research work, involving the analysis of a specific management problem, evaluation of the results of the analysis, which serves as a basis for developing specific proposals and implementing the appropriate solution to the problem.

After the Thesis document is completed it is submitted to RBS Thesis committee. The student makes a 20 minute presentation and is expected to answer questions for 10-20 minutes.

Elective Course Descriptions

International Business Environment

The course describes globalisation factors affecting the operation of an enterprise in an international setting. Political, economical, legal, and social factors are covered. Specific topics covered are alternative forms of government, political stability, political problems facing business, economic systems, regional markets, economic regulations, legal systems, and cultural factors, which affect business operations.

Entrepreneurship

This course focuses on factors related to the initiation and development of new business ventures, in contrast to the management of large, ongoing enterprises. Topics covered include personal entrepreneurial potential, career considerations, start-up planning, and sources of venture ideas, innovations, entry wedges, and acquisition strategies, managing for survival. Primary emphasis is on the process of starting a new venture. Entrepreneurs will meet with the class to discuss their own experiences.

International Financial Management

This course is designed to familiarize students with several basic areas of international financial management, including foreign exchange markets international financing and investment decisions, international financial markets (especially Eurodollar markets), transfer pricing, and selected policy issues. In all these fields, theory, applications, and cases are equally emphasized. Typical topics include international financial accounting; speculating, covering, and hedging activities in foreign exchange markets; translation, economic and political risks; arbitrage operations; capital budgeting; the cost of capital and international capital asset pricing; the determination of security prices.

Operations and Service Management

The course stresses the development and integration of marketing, production, human resources, and financial plans to form the annual operating plan for the enterprise. The course makes use of cases to illustrate the processes and problems involved. The main component of the course is a survey of methods for planning and control, project management, facilities location and layout, and quality management and control.

International Marketing Management

The objective of this course is to familiarize business students with the similarities and difference in marketing systems used in different countries. The impact of different marketing systems on the various marketing functions - product, price, promotion, and distribution - are analysed.

Total Quality Management

This course deals with the pervasive impact of quality assurance within and outside organizations. In addition to statistical tools and techniques utilized for quality assurance, this course primarily deals with the managerial aspects of quality assurance such as planning, organizing, and control of quality assurance. New contending systems of quality assurance philosophies are also covered in depth, apart from the problems and issues encountered in practice, through case studies.

Project Management

This course provides the knowledge and tools needed to manage small-and large-scale projects in the production and the service sectors of the economy: the project cycle; identification of need; formulation and initial conception; ideas generation and creativity techniques; permissibility and project selection techniques (value analysis, technical feasibility, cost-benefit analysis, social impact techniques, risk analysis), organization, planning and control of project execution (PERT/CPM, software tools); human and organizational dimensions of project management (organizational structure, team management, conflict resolution); post project evaluation.

Investment and Banking

This course offers an overview of two topics of importance to financial managers: financial institutions, and financial instruments and investment strategies. In the first part, a description and analysis of the various types of financial institutions is presented: banks, insurance companies, investment dealers, mutual funds; assets, liability, capital management issues; legal, economic and regulatory environment; structure of financial institutions, competition in the sector; implications for corporate mangers. In the second part, issues related to financial instruments of increasing importance to corporate managers are approached: securities market, common and preferred equity, options, commodities and financial futures, portfolio management, risk and performance evaluation.

Business Law

This course is an introduction to the basic legal principles governing business transactions in market economics. Adapting legal principles in Latvian context. Topics covered include international business transactions; domestic contracts; dispute resolution mechanisms; law on business organizations, including agencies, corporations and joint ventures; debtor-creditor relations such as loans and leasing, regulations on operation of pension funds; legal principles used in international trade and transportation; emerging business law in Latvia; employment regulations.

Sales and Product Promotion

This course focuses on the central issue of how to develop new products from ideas to actual items on the market, as well as the implementation of brand strategies for existing products. Student will learn about the promotional mix for sales from the perspective of the manager, including decision-making techniques related to the design of promotional campaigns, budgeting for promotion, media selection, and the measurement of effectiveness. Specific topics addressed are: organization and product strategy, the role of marketing in new product development, forecasting sales potential, test market evaluation systems, advertising response and budgeting, how advertising works and media selection.

Internal Audit and Internal Control

Internal Auditing and Internal Control course provides information about the standards, ethics, concepts, problems, audit techniques and reporting practices of internal auditing and internal control. This course covers the theoretical concepts and practical procedures of internal auditing and internal control. Both the financial and operational aspects of auditing are studied. Topics covered include corporate governance, risk management and fraud. This course is based on a combination of lectures and presentations, but with an emphasis on discussion and case analysis.

Knowledge Management

Knowledge Management (KM) and related topics such as Organizational Learning, Intellectual capital, Competence management etc. today are seen as more and more vital to the ongoing success of all organizations and as a key source of sustainable competitive advantage in an increasingly information and knowledge based approaching ‘e’ economy. The course introduces students to processes, techniques and tools by which individuals; teams and organizations acquire, create, share, interpret, store and utilize information and knowledge to achieve their objectives.

Business Communication Skills

This class is designed to provide students the opportunity to study in detail the theoretical and practical approaches to business and management communication. The course combines lecture, discussion and presentation. In the course students learn to analyze audiences, develop arguments, and test their ability to persuade in writing and speaking. Course work involves both persuasive and expressive writing, individual and group presentation, class discussion and individual exercises designed to sharpen performance.

Leadership

This class is designed to provide students the opportunity to study in detail the theoretical and practical approaches to leadership. Success in a growing, competing business requires a high degree of cooperative effort and hard work focused on providing solutions that make a difference to customers. Skilled leadership in this environment demands the ability to integrate soft human elements with hard business actions to create a business future profitable for all stakeholders.