ENGLISH TRACK 2012 / 2013 - Toulouse Business School | …€¦ ·  · 2014-04-096. Cost of capital, ... Practical issues in estimating the cost of capital 7. Corporate Financing

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E C O L E S U P E R I E U R E D E C O M M E R C E

SYLLABUS

Préformation

ENGLISH TRACK

2012 / 2013

2

CONTENTS

Pages

MANAGEMENT CONTROL, ACCOUNTING & AUDITING

Management Control ………………………………………………………………………………………………. 3

ECONOMICS - FINANCE

Economics ………………………………………………………………………………………………………………. 5

Corporate Finance ……………………………………………………………………………………………………. 6

MARKETING - SALES

Business & Marketing ………………………………………………………………………………………………. 9

International Trade ………………………………………………………………………………………………… 11

INFORMATION MANAGEMENT

Business Statistics …………………………………………………………………………………………………… 14

HUMAN RESOURCES

Projet Personnel et professionnel / Career Starter ……………………………………………………. 16

ORGANIZATION, LOGISTICS AND TECHNOLOGY

Operations Management …………………………………………………………………………………………. 18

LANGUAGES & INTERNATIONAL COMMUNICATION

The Art of Comunicating in business 20

Español…………………………………………………………………………………………………………………….. 22

Verbereitung auf das berfsleben ………………………………………………………………………………. 23

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OBJECTIVES:

A – Managerial Accounting

At the end of this course students should:

Know how management accounting can support the decision making of managers;

Be able to explain the role of management accounting;

Be able to describe how different concepts are used for identifying costs according to

the purposes for which those costs are needed;

Understand the Cost-Volume-Profit model and its limitations;

Understand traditional full costing methods and their limitations;

Be able to explain performance evaluation and the behavioural implications of

management accounting.

B – The Budgeting Process

At the end of this course students should:

Know how to use the budgeting process, considering the opportunities offered by this

instrument as well as its weaknesses;

Be able to follow and carry out the different steps to build up a budget;

Be able to carry out a variance analysis based on a budgeting process.

CONTENT:

An indicative list of content is provided below:

Learning unit - Introduction to Management Control and Management

Accounting

Meaning, role and evolution of Management Accounting and Control

The management controller profession

Learning unit - Costing

Cost terms and purposes

Cost–Volume–Profit relationships

Traditional full costing

Relevant costing

DEPARTMENT:

Management control, Accounting

& Auditing

MODULE : Management Control

Hours: 30 h

4

Learning unit - The Budgeting Process

The role of budgeting in Management Accounting

The various types of budgets: Functional budgets, master budget, cash budget

Limits & paradox of the budgeting process

Learning unit - Variance Analysis

The role of standard costing and variance analysis

Decomposition of total variance and its calculation

TEACHING METHODS:

Teaching methods include lectures with the use of slides, in-class exercises and case studies to

be prepared at home, as well as a group project called “Field Study” (more details will be

provided by your instructor).

COURSE INSTRUCTORS

Dr Simon Alcouffe, permanent faculty, professor of management accounting

Loic Gaté, affiliated faculty, Management control and management accounting

EVALUATIONS:

Evaluation of participants will be based on three elements:

A mid-term individual, written exam (25% of final grade);

A group project (Field Study) requiring a written report & oral presentation (25% of

final grade);

A final individual, written exam (50% of final grade).

REFERENCES BIBLIOGRAPHY:

- The reference textbook is “Management and Cost Accounting”, by Colin Drury,

Thomson, 6th

edition

- Other useful textbooks include “Management Accounting”, by Atkinson, Kaplan,

Matsumura & Young, Pearson/Prentice Hall; and “Management and Cost Accounting”, by

Bhimani, Horngren, Datar & Foster, Pearson/Prentice Hall.

MODULE COORDINATOR:

Dr Simon ALCOUFFE- Resident faculty

ASSISTANT:

DEBLOCK Christine

Phone: +33 (0)5.61.29.49.58 E.mail : [email protected]

Bureau : 107

COURSE OBJECTIVE

This course aims to present the materials necessary for a global understanding of the

economic environment of the company and its evolution. We will study how economic

activity is measured and what it means. We will develop the monetary and banking structure

of the economy, which will inform the very contemporary debates about the origins of the

crisis and its repercussions. It is also important to analyze the foundations and the impacts of

regulatory economic policies in a globalized world, in particular the policies led by the Fed

and the ECB. Finally, to understand what we call 'globalization', we will study the interactions

between economies, their nature and their impacts.

CONTENTS

- Introduction to macroeconomics

- Presentation of a simplified economy and analysis the economic behavior of agents

- General equilibrium in a closed economy

- General equilibrium and impact of economic policies (governments and Central

Banks)

- Open economies and efficiency of economic policies

BIBLIOGRAPHY

- Macroeconomics, R. Gordon, Pearson, 2009

- Macroeconomics, A. Abel, B. Bernanke and D. Croushore, Pearson, 2011

- Macroeconomics, G. Mankiw, Pearson, 1997

METHOD OF WORK

Strict obligation to prepare lessons, including reworking the exercises in the handout.

Final exam (closed book, computers non authorized).

PROFESSOR IN CHARGE

Luc ROUGE, Resident faculty

ASSISTANT:

MOURRAUT Sandhra

Phone : +33 (0)5.61.29.49.21 E.mail : [email protected]

Office: 113

DEPARTMENT:

Economics / Finance

MODULE : Economics

Hours: 15 h

6

OBJECTIVE

This module aims to provide students with both a fundamental and an operational grounding in

corporate finance and financial theory. A rigorous method for selecting investment projects will be

presented and practiced. Students will learn the various modes of financing and their real cost.

Alongside this, a rigorous method for analysing economic and financial problems will be developed,

based on a study of the theoretical foundations of modern market finance. To renounce theory would

be to renounce explaining the working of capital markets. The theoretical knowledge acquired by the

student will, however, constantly be called on to solve practical financial problems.

COURSE CONTENT

The course is divided into two equal parts of 15 hours each. The lecture notes are written in

English for both parts of the course. However, the teaching language is French.

Part I : Finance 1

Introduction:

- What is Corporate Finance?

- The Role of the Financial Manager

- Financial Management Decisions

- Finance vs Accounting

1. Basic Concept: The Net Present Value Rule

1. Introduction

2. The Time Value of Money

2.1 Future Value and Compound Interest

2.2 Present Value

2.3 Annuities

- Compound Annuities

- Present Value of an Annuity

3. The NPV Rule

- Application # 1: Amortized Loans

- Application # 2: Investment Decision (the case of an industrial asset)

DEPARTMENT:

Economics / Finance

MODULE : Corporate Finance

Hours: 21 h

7

2. The Investment Policy: Capital Budgeting / Investment Decisions

1. Introduction

1.1. The Discount Rate

1.2. The Different Forms of Investment Decisions

2. The Relevant Cash Flows of an Investment Project

2.1. The Initial Cash Flows

2.2. The Intermediate Cash Flows

2.3. The Terminal Cash Flows

3. The Most Popular Investment Criteria

3.1. Payback Period

3.2. Net Present Value

3.3. Internal Rate of Return

3. The Investments Financing Policy (optional: generally not covered)

1. Introduction

1.1. Sources of funds

1.2. The financing life cycle of a firm

1.3. Financial Markets and Securities

2. Valuation Principles of Financial Securities

3. Corporate Long-Term Debt: The Basics

3.1. Corporate Long-Term Debt: The Features

3.2. Bond Pricing: A Primer

3.3. Application Exercises

4. Classes of Stock

4.1. Stock Pricing

4.2. Application Exercises

4.3. NPV Criterion and Stock Pricing

Part II Finance 2

4. Risk and Return: an introduction

1. Capital market history and measurement of returns

2. Measurement of risk

3. Working with portfolios of assets

4. Diversification

5. The Capital Asset Pricing Model (CAPM)

1. Portfolio choice

2. Markowitz’s mean-variance model

3. Financial market equilibrium

6. Cost of capital, value of the firm and financial structure (Partially Covered)

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1. Measuring betas

2. Capital structure and cost of capital

3. Practical issues in estimating the cost of capital

7. Corporate Financing and the Six Lessons of Market Efficiency (optional: generally

not covered)

1. The concept of “market efficiency”

2. What market efficiency means for the financial manager

BIBLIOGRAPHY

1. CORPORATE FINANCE, BERK AND DE MARZO, Pearson Edition. The new reference in this field.

2. PRINCIPLES OF CORPORATE FINANCE, eighth edition, BREALEY & MYERS, McGraw-Hill. A reference in the field (a French translation exists).

TEACHING METHODS

All the materials are in English: the lectures will be taught in French.

Lectures + exercises

Distance learning: exercises, cases, and tutoring.

Final Exam will be based on a MCQ.

HEAD OF THE MODULE

Jean-François VERDIE, Resident faculty

ASSISTANT

MOURRAUT Sandhra

Phone : +33 (0)5.61.29.49.21 - E.mail : [email protected]

Office: 113

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OBJECTIVES:

To introduce marketing, its overall approach, its key concepts and strategic thinking;

To present the basics of consumer behavior and BtoB purchase, and how they can be

studied;

To introduce the key components of the marketing mix;

To discuss new trends and evolutions of marketing.

CONTENT :

1. Face-to-face ( 10.5h)

a. Segmentation and positioning

b. Consumer Behavior

c. Marketing Research

d. Recent trends in Marketing

2. Through e-learning (4,5h)

a. Introduction to Marketing

b. BtoB purchasing

c. Marketing mix

d. E-marketing

TEACHING METHODS:

Lectures, exercises and case studies.

Personal work : preliminary readings before lectures.

PEDAGOGIC TEAM:

Permanent and affiliate professors

EVALUATION

Individual exam: questions on concepts or exercises.

Individual bonuses or penalties (plus 3 marks to minus 3 marks) on the average grade for

the module depending on answers to questions asked during classes (verbally or in

writing), or on overall behaviour during classes (punctuality, participation, respect of

others, etc.)

DEPARTMENT:

Marketing and International

Business

MODULE : Business & Marketing

Hours: 15 h

10

REFERENCE

Kotler, Ph. and Keller, K. (2011), Marketing Management, 14th edition, Prentice Hall,

Upper Saddle River, New Jersey

MODULE COORDINATOR

Stéphane BERNARD, Resident faculty

ASSISTANT :

Nathalie WAGENER

Phone: +33 (0)5.61.29.49.97 - E.mail : [email protected]

Office 107

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OBJECTIVES:

The key objectives of the course are:

To provide students with an introduction to international trade and its importance for

business

To explain the complexities of international logistics and the key techniques and

vocabulary required to operate effectively.

To raise awareness of the risks involved in international trade and explain the key

techniques to avoid risk.

To raise awareness of foreign exchange risk in international transactions and explain

the key techniques to manage this risk.

CONTENT :

Session 1 – introduction

- Trade in the world economy – characteristics, evolution, trade governance, regional

trade.

- Key markets and their evolution

- Incoterms – how to divide risk, costs and responsibilities in an international

transaction.

Session 2 – Risks in international trade

- Assessing risk in an international transaction.

- COFACE and its role in risk management

- Non-payment risk and how to cover it – CREDOC, insurance, factoring…

- Foreign exchange risk and how to manage it – insurance, forwards, options….

Session 3 – Exercises – Incoterms and mini case on risk

Students will undertake some exercises on Incoterms and a short ‘mini-case’ of an exporter

faced with a potentially risky international transaction. They will be required to assess issues

like:

- The level of risk involved in the contract

- The best mode of payment;

DEPARTMENT:

Marketing and International

Business

MODULE : International Trade

Hours: 15 h

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- The options available if the client doesn’t accept your proposed payment terms.

- The impact of changes in exchange rates

- The best option to avoid exchange rate risk

This exercise will be done in groups of 3-4 students. The case will be marked. The lecturer

will correct the case in class with the students once the dossiers have been collected.

Session 4 – The practicalities of international trade

- Customs procedures

- International transport

Session 5 – This session will consist of a practical exercise where students will have to

evaluate a series of offers from potential suppliers, taking into account transport cost, delivery

time and other factors. Work will be undertaken by students in the same small groups and the

case will be marked. The correction will be done during the course once the dossiers are

collected.

TEACHING METHODS:

- Lectures

- Practical exercises/cases

- Pre-session reading

LECTURING TEAM

Jessica JEAN. Associate Professor

EVALUATION:

The course will be evaluated through the group work undertaken in class together with in an

individual in-class quiz of multiple choice questions. The final mark will be the average of the

two.

BIBLIOGRAPHIC REFERENCES:

Electronic books will be available on the ScholarVox site on Louise CURRAN’s page, under

‘International trade –prefo ET’.

The www.eur-export.com site is a very useful, bilingual source of basic information on

international trade techniques and vocabulary.

There are several useful books in the library including:

The handbook for international trade and finance. Anders GRATH.

Incoterms 2010: ICC rules for the use of Domestic and International Trade terms.

International Chamber of Commerce and Industry. In French and English.

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MODULE COORDINATOR

Louise CURRAN, Resident faculty

ASSISTANT :

Nathalie WAGENER

Phone : +33 (0)5.61.29.49.97 - E.mail : [email protected]

Office 107

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OBJECTIVES:

The aim of the course is to introduce students to statistical methods used in business.

Topics include:

- Descriptive methods such as graphical methods for presenting data, measures of

central tendency and dispersion.

- Statistical hypothesis testing: Tests of significance for two means, contingency tables

and chi square tests

- Analysis of variance

- Correlation

- Regression models

Students will work on practical exercises using Microsoft EXCEL.

Students are expected to spend time revising outside of class hours to improve their

understanding of statistical concepts and their practical application to problem solving.

This will enable students to become autonomous practitioners and to have solid basis for

more advanced courses.

CONTENT:

Learning unit 1- Descriptive Statistics

Objectives: Introduce students to the central concepts of statistics. By the end of

the course students will be able to use EXCEL to describe simple data sets, study the

normality of a variable and interpret results.

Learning unit 2: Estimation based on a sample

Objectives: present the key sampling methods used in business, how to calculate

the size of a sample and extrapolate the sample results to the whole population using

confidence intervals

DEPARTMENT:

Information Management

MODULE: Business Statistics

Hours: 21 h

15

Learning unit 3: Introduction to Hypothesis Tests

Objectives: how to state a statistical hypothesis/Application to parametric and non-

parametric tests

Learning unit 4: Correlation/Regression

Objectives: study and model the link between quantitative variables and evaluate the

quality of the model.

TEACHING METHODS:

Theoretical classes and readings

Exercices using EXCEL

Personal work

EQUIPE PEDAGOGIQUE:

The course will be delivered by instructors from the Information Management

department.

EVALUATION :

Continuous assessment: details will be provided by the instructor at the beginning of the

course

BIBLIOGRAPHY:

Basic Business Statistics, Mark L. Berenson, David M. Levine, Timothy C. Krehbiel,

Prentice Hall

Business Statistics, Levine, Krehbiel, Berenson & Stephan, 2013, Prentice Hall

Statistics for Business and Economics, Newbold, Carlson & Thorne, 2013, | Prentice

Hall

MODULE COORDINATOR

Nadine GALY, Resident faculty

ASSISTANT:

Fabienne PIERRE

Phone+33 (0)5.61.29.49.65 - E.mail : [email protected]

Office 109

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OBJECTIFS PEDAGOGIQUES

Déterminer avec pertinence et motivation ses choix professionnels, tel est l’objectif de ce

module. L’enjeu est d’autant plus important pour les étudiants entrés en admission

parallèle.

Concrètement nous espérons que chacun pourra :

faire le bilan de ses atouts /motivations /compétences

identifier et prioriser les fonctions/métiers /secteurs qui l’attirent et qui pourront

constituer la base (ou l’évolution) de son projet de vie intégrant autant la

dimension personnelle que professionnelle

se préparer à faire les choix de parcours pédagogique ou de stage les plus

cohérents et les plus porteurs

CONTENU DETAILLE

Identifier et repérer ses caractéristiques et atouts personnels (retours d’expérience,

auto évaluation, tests)

Métiers, jobs, secteurs, rechercher et capitaliser l’information (enquêtes, sites,

réseaux)

Elaborer son (ses) projets et plans d’actions (scénarios, faisabilité, recherche de

ressources nécessaires, etc.)

Construire et faire évoluer son portfolio de compétences

METHODES PEDAGOGIQUES:

Exposés, exercices individuels ou de groupe, tests, …

Un travail personnel important est nécessaire de façon à compléter une démarche

initiée en séance mais qui ne peut porter ses fruits que si l’étudiant s’y investit

tant dans la recherche et le traitement d’informations que dans la réflex ion

personnelle

DEPARTMENT:

Organisation Responsable et

Ressources Humaines

MODULE: Projet Personnel et

professionnel / Career Starter

Hours: 4,5 h

17

EQUIPE PEDAGOGIQUE :

Annie DUTECH, Professor standing,

Responsable Career Starter de l’accompagnement des étudiants.

METHODES D’EVALUATION :

Rapport individuel formalisant l’intégralité des éléments recueillis, analyses, et

prospectives.

BIBLIOGRAPHIE DE REFERENCE :

Psychologie de l’orientation, Jean Guichard, Michel Huteau

Collection: Psycho Sup, Dunod

2006 - 2ème édition

PROFESSEUR RESPONSABLE ACADEMIQUE :

Annie DUTECH, Resident faculty

ASSISTANTE PEDAGOGIQUE :

Elodie DARMANI

Phone: +33 (0)5.61.29.49.59 – E-mail : [email protected]

Office 107

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OBJECTIVES:

The main objective of this module is to present how companies can design and manage their

operations to produce goods or services and better adapt supply to demand; this question is

fundamental to any organization. Indeed, for a company, any customer request which cannot

be satisfied implies a loss of income. On the contrary, any supply in excess to the expressed

demand this company faces induces a waste of resources. The continuous search for a better

match between supply and demand (in quantities, in delays of delivery, in the design of

products, in the quality of products...) generates significant competitive advantages (cost,

differentiation, responsiveness,... ). To achieve this goal, the company must continuously, and

consistently with operational strategies that must be well defined, implement a set of

concepts, models and methods. These concepts, models and methods are discussed and

studied in this course. They aim, first, at helping managers in their decision-making (what to

produce? at what cost? How much (and what) to stock? How to best manage the flow of

customers? What capacities of production to choose? ...) and, secondly, to produce the

information needed to improve the system (as the average waiting time of a customer, the

number of defective deliveries, the stocks per period,...). Knowing when and how to apply

these tools of operations management is the heart of knowledge you will acquire during this

course.

CONTENT :

Learning unit 1 – Introduction (3h) :

1. Competitive supply and competitive advantage

2. Challenges of matching supply and demand

3. The role of Operations Management

Learning unit 2 – Process, Flow, Capacity (4,5h) :

1. Process and operations

2. Process analysis and improvement

3. Assessing and balancing a the capacity of a process

Learning unit 3 – Inventory Management (4,5h) :

1. Inventory and ABC analysis

2. The Economic Order Quantity

3. Replenishment methods

DEPARTMENT:

Organization, logistics and

Technology

MODULE: Operations Management

Hours: 30 h

19

4. Safety stocks and service level

Learning unit 4 – Production Planning and Control (9h) :

1. MRP 2

2. Just-in-Time and Lean Manufacturing

3. Quality Management

Learning unit 5 – Supply Chain Coordination (4,5h) :

1. What is supply chain management?

2. The bullwhip effect: causes, consequences, and mitigating strategies

3. Incentive conflicts in the supply chain

Learning unit 6 – Purchasing Management (4,5h) :

4. Introduction

5. Purchasing cycle and decisions

6. Supplier selection and the total cost of ownership

TEACHING METHODS:

Cases, mini-cases and exercises in class and in tutorials

EQUIPE PEDAGOGIQUE :

Sébastien Mitraille, Miguel Urdanoz, Ramzi Hammami

EVALUATIONS:

Final examination (3 hours exam)

REFERENCES BIBLIOGRAPHY:

1. G. Cachon , Ch. Terwiesch, Matching Supply with Demand: An Introduction to

Operations Management, 2nd edition, Irwin - McGraw Hill, 2008

2. N. Slack, S. Chambers, R. Johnston, Operations Management, Prentice Hall, 5ème

édition, 2007.

3. Stevenson W. J., Production/Operations Management, 9ème

édition, McGraw-Hill,

2006

MODULE COORDINATOR:

Christophe BERNARD, Resident faculty

ASSISTANT:

Fabienne PIERRE

Phone: +33 (0)5.61.29.49.65 - E.mail : [email protected]

Office 109

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This module is compulsory for all M1 students.

OBJECTIVES

Most of you have already studied English for an average of ten years. Our primary goal is

therefore not purely linguistic since at this point in time you should ALL have acquired the

language and be aspiring to use it with confidence. Our objective is to get you to USE your

knowledge and acquired language in a business context. That’s where we intend to take you in

our ART OF COMMUNICATING IN BUSINESS programme. We will give you a unique

overview of business today that will give you both the opportunity to expand your business

knowledge and horizons but also see key language in context. We will endeavor to help you

improve your knowledge and your language for you to be able to participate in the increasingly

challenging international work environment.

CONTENTS

Through a number of business themes; meetings, sales, job hunting, internet project…we will

work on the following career skills:

- Making Presentations

- Teamworking

- Meetings

- Personal Selling

- Interviewing

- Telephoning

- Debating

- Creativity

BIBLIOGRAPHY

“The Business”, Allison Townsend, MACMILLAN 2011

“In at the Deep End”, Hollet, Carter, Lyon & Tanner, OXFORD UNIVERSITY PRESS

“International Business”, Tonya Trappe & Graham Tullis, LONGMAN

MODULE: The Art of Communicating in

business

HEURES : 30 h

DEPARTMENT:

Langue & Communication

International (LCI)

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TEACHING METHODS

Case Studies, debates, meetings, presentations, phoning, roleplays, exercises

ASSESSMENT

Various oral and written assignments

HEAD OF THE MODULE

Sarah TIRARD, Professor Affiliate

ASSISTANT

Christine ABRIBAT

Tél : +33 (0)5.61.29.49.12 - E.mail : [email protected]

Bureau : 309

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OBJETIVOS

- Comunicar en español por escrito y oralmente

- Desarrollar el contacto con las culturas hispana y latino-americanas

- Utilización del español en el marco profesional

- Conocer el mundo de la empresa

- Perspectivas de América Latina

CONTENIDO DEL PROGRAMA

- El CV, la carta de motivación, la entrevista

- El teléfono en situación

- La empresa: ¿cómo ingresar? ¿cómo crear una empresa?

- América Latina en el siglo XXI

- Debates sobre la actualidad española y latino-americana

BIBLIOGRAFIA

- Documentos de prensa, Emprendedores, El País, Cambio 16, Actualidad económica

- Documentos video

METODOS DE TRABAJO

- Investigación personal

- Análisis y comentarios de textos

- Teléfono en situación

- Exposiciones orales y escritas

- Debates

PROFESOR RESPONSABLE

Bertha G. CAVAILLES, Profesor permanente

ASISTENTA

Christine ABRIBAT

Tél : +33 (0)5.61.29.49.12 -E.mail : [email protected]

Bureau : 309

MODULE: Español

HEURES : 30 h

DEPARTMENT:

Langue & Communication

International (LCI)

23

OBJECTIFS

- Bewerbung

- Kommunikationskompetenz

- Mündliche Sprachkompetenz

CONTENU DES PROGRAMMES

- Lebenslauf und Bewerbungsschreiben

- WIDAF Vorbereitung

- Telefongespräche

- Interkulturelle Kommunikationskompetenz

- Debattieren und interaktiv kommunizieren

BIBLIOGRAPHIE

- Fiches informatisées du Pôle Langues et Communication Internationale.

- Dossiers informatisés du Pôle Langues et Communication Internationale.

- Dossiers d’auto-formation du Pôle Langues et Communication Internationale.

- Fit für den TestDaf

- Training TestDaf

- Teste dein Wirtschaftsdeutsch

- Das Testbuch Wirtschaftsdeutsch

METHODE DE TRAVAIL

- Mündliche und schriftliche Übungen

- Individuelle Telefongespräche

- Powerpoint Vorstellungen

- Zweisprachiges Training zur mündlichen Kommunikation

METHODES D’EVALUATION

Zertifikat Deutsch für den Beruf : 25 %

Telefongespräche : 30 %

Sourtenance Exportprojekt : 45 %

PROFESSEUR RESPONSABLE

Philippe LECOMTE, Resident faculty

MODULE: Vorbereitung auf das

berfsleben

HEURES : 30 h

DEPARTMENT:

Langue & Communication

International (LCI)

24

ASSISTANTE

Christine ABRIBAT

Tél : +33 (0)5.61.29.49.12 -E.mail : [email protected]

Bureau : 309