Introduction to Business Administration

The daily work as a Data Scientist primarily takes place in an organizational context. A business perspective plays a central role in these contexts. In this competency, students acquire basic knowledge from selected areas of Business Administration: marketing and accounting (financial and management accounting). Relevant concepts and methods from both areas are applied to practical examples. The competency also focuses on the importance of data sciences in business management. For a successful completion of the competency, work from both areas (marketing as well as financial or management accounting) must be assessed.

Creating a marketing (Marketing)

• Students understand the importance of marketing plans for day-to-day business activities and can develop relevant parts of a marketing plan.
• Students can apply relevant methods and tools to conduct a situation analysis and to define marketing goals and marketing strategies.
• Students understand relevant marketing instruments and can develop a target-oriented marketing mix.

Analyzing annual reports (Financial accounting)

• Students understand the importance of financial ac-counting for day-to-day business activities and know the central components of an annual report.
• Students can read an annual report and understand the structure and significance of the balance sheet, in-come statement and cash flow statement.
• Students can use relevant performance indicators to analyze the balance sheet and income statement and assess the economic situation of a company.

Calculating lower price limits (Management accounting)

• Students understand the importance of management accounting for day-to-day business activities and know relevant cost accounting systems.
• Students understand relevant instruments and calculation methods of full costing and direct costing.
• Students can apply cost accounting instruments and calculation methods to calculate lower price limits.