- Program duration:
- Acquired certificate:
Mini MBA certificate
- Total hours of training:
100 contact study hours + group mentoring + individual mentoring
Topic 1 – Digital transformation (Katarina Šiber Makar, PhD & Senad Kulenović)
Digital transformation (DT) is not about automation and digitization of existing business processes, it is rather creation of innovative, digitally supported processes and thus new business and operational models (within existing environment).
The module will provide overview of digital economy driven customer expectations and needs, like contextualized interactions, personalized services, seamless experience across channels (omni-channel), transparency, constant availability, peer reviews and advocacy and ways to address those with innovative digital business models. Using one of the transformation frameworks, module will dive deeper into customer experience, operations and IT aspects of existing business (using pre-prepared cases and scenarios), in order to establish and quantify digital maturity of specific groups of processes / systems. Through benchmarking with competition and assessment of business impact of each of recognized processes, prioritization of their transformation will be determined, serving as a starting point for setting up DT projects. Knowledge from this module will be also essential for individual student project, where each of the students will be tasked to apply framework, asses current state of play and setup DT projects for his / hers company.
- Customer experience
- Reinventing business models
- HR role in digital transformation
- Most common Digital transformation misconceptions
- Digital transformation Frameworks and their use
- Digital maturity assessment
- Crafting the vision
- Designing organizational setup to support DT
- Translating vision into action (setting up DT projects)
- Funding digital transformation
- Innovation frameworks
Project Teamwork: What it takes to make it successful in the evolving business landscape
We know that Digital is changing the way we do business and that we need to change our business models and processes. Where to start? How to prioritize? This session will provide insights into focus areas of Digital Transformation and hands on experience.
Topic 2 – Shared Economy and Tech Supported Business Models
(Blockchain, Smart contracts, BI and Advanced Visualization) (prof. Leo Mršić, PhD)
Module will provide overview of digital technologies like mobile, cloud, analytics and big data, internet of things, blockchain, software intelligence, artificial intelligence and more importantly the way they are being used in digital business models and the way they can improve digital business processes. Time to play hard on data. Let us push modern visualization tools to limits and create our story. We will talk about smart contracts and future-to-be cases like Swedish blockchain powered land registry estimated for 2019 or Estonian digital voter solution estimated for 2020 and how to recognize these tectonic shifts that will shape our business in years to come, changing business landscape from classical to shared economy.
- IT system monetization strategies
- Data Driven Management
- Applied analytics and modern data visualization
- Technology supported shared economy
- Smart contracts and blockchain
Project Teamwork: Recognize, Create and Capture Value in New Economy
Be prepared to use your financial and management skills and to advance it to next practical level. By being able to identify key valuation components, understand complexity of functional requirements we will discuss measures like TCO, ROI, learn how to estimate cost, mitigate IT implementation risk and evaluate IT vendors with confidence. From the product or user/client perspective it is important to understand both value of someone’s work/idea but also how to monetize IT System on today’s emerging market. In digital age all that matter is change and how to adopt to it.
Topic 3 – Optimizing business and finding new growth opportunities within (prof. Rhonda Lummus, PhD)
Business operations, for any company, can always be improved and supported by more technology, to provide additional value to customers. For a middle sized corporation, honing effectiveness and efficiency is critical. You need all available resources to hit the next stage of growth and be able to manage competition from much bigger organizations. Even if you run big international firm, you still might find that you cannot really compete with companies such as Zara or Amazon, exploiting their operations to change areas in which industry used to compete (speed of business iterations, price, understanding customer needs…).
- Operations and supply chain management
- Value creation through operations
- Operations strategy, competitive dimensions and trade-offs
- Process mapping, value stream mapping, supply chain maps
- Decision trees
- Introduction to queueing
- Inventory management
- Managing customer and supplier relationships.
Project Teamwork: Use technology to create value within
Using Operations and supply chain technologies to analyse the impact of changes in business environment, exploring supply chain models and network flow to find places to create new value for customers and companies, starting from within.
Topic 4 – Data driven decision-making using quantitative methods (prof. Bob Jacobs, PhD)
Application of Quantitative methods is a process where data is transformed into actions through analysis and insights in the context of organizational decision making and problem solving. This approach is mostly neglected in less developed economies, while SP 500 companies increase significantly their EBITDA margin and overall value by using them in everyday business analysis and decision making processes, leaving thus less money on the table (to competitors and customers).
- Descriptive statistics and categorizing data
- Constructing and using Pivot Tables for data visualization
- Techniques for time series forecasting
- Regression analysis and problems
- Analysing datasets
- Process alternatives
- The break-even decision model
- Testing the decision support system
Project Teamwork: From data to business insight
While some remain suspicious of “data”— that catchall for everything from focus group research to social media analytics to campaign metrics, all mucking up the organic process—brands and their creative teams are finding that data is a must-have element of the work and essential in unbiased and optimal decision-making.
Topic 5 – Value Innovation (prof. Mislav Balković, PhD)
You will be exposed to innovation frameworks, concepts and tools that can be used to help the entrepreneur / company creatively solve problems in order to secure a position within the marketplace. Starting from competing in red oceans to finding blue ones. Getting to know your Pioneers, Migrators and Settlers and understanding those of your competition in order to designing preferred structure of your products / services that will allow you further growth and stability. Using processes of Reduction, Elimination, Creation and Raise to create unmatched customer value on strategy canvases.
- Disruption vs. non disruptive creation
- Using organizational diagnosis methods to create administrative innovations
- Using organizational learning to promote innovation
- Psychological factors that influence the entrepreneurial mind-set
Project Teamwork: Developing an Innovative Mind-set
When you try to be innovative, you need to understand you’re going to fail – probably more than once. Still, there’s an important distinction when you fail while attempting innovation and when you fail while waiting others to disrupt your business model. Learn modern techniques, frameworks and approaches to reduce chances of failure or learn to fail fast and move on.
Topic 6 – Intrapreneurship, corporate and open innovation (Emir Džanić)
The organizational entrepreneurship is the newest strategy for innovative development within organizations. On the other hand, different open innovation strategies are more and more implemented and used by companies to get new ideas and to discover new growth engines. This module will assist students in thinking through an entrepreneurial and innovation strategy with alternative business models, clearly understanding the venture’s competitive advantage, and how an entrepreneurs and companies should leverage it for growth.
As a result of taking the course, students will become more acquainted and learn how to deal with the contemporary trends and expectations they face in the modern business environment pushed to constantly reinvent its market position to survive and thrive.
- Theory / strategy of your firm (e.g., foresight, cross-sight, insight)
- Technology, Markets, and Organizational Structure, taking innovation perspective
- Innovation Frameworks
- VRIO analysis: Finding competitive advantage
- Organizational Learning Developing & Training Innovative People and spurring intrapreneurship
- Root cause analysis: The five whys
- Impact & Feasibility Analysis
- Implementation appraoch for sustainable innovation
Applying selected innovation framework to analyze and setup development project / venture idea. The pitch and corresponding materials are critical when an entrepreneurs / intrapreneurs are considering various ways to “sell” the venture or idea. Students will learn the importance of creating, developing, and presenting a pitch deck modeled of their business plan and tailored to a specific (i.e. internal) audience.Project Teamwork: Start with where you are now and reach your goals
Topic 7 – Financial planning and feasibility of development projects (prof. Bill Heninger, PhD)
Business in most market oriented organizations is dominated by P&L and profitability. Even best and most innovative of ideas, if not framed to pass profitability test, are just nice business plans sitting in a drawer or tool for business destruction. In order to avoid subjectivity and biases during investment decisions, which could ruin your business in the longer run, you should learn the cost/benefits and feasibility analysis of the project / idea. Stated knowledge and approaches will help organizations determine the viability, cost, and benefits associated with a project before financial resources are allocated. Plan for new projects using a driver based planning frameworks.
- Prioritize and approve necessary projects based on long-term financial goals and financial KPIs
- Cost / benefit analysis in development / investment project
- Determining feasibility of development / investment project
- Forecast the financial implications of on-going projects to help drive project change decisions
Project Teamwork: Is it worth investing?
Use cost / benefit analysis and determine feasibility for selected cases, covering multiple industries. Once acquainted with stated knowledge, templates and frameworks, students could use them for project assessment and in order to enhance project credibility. At the end of the day, such approach will help decision makers determine the positive economic benefits to the organization that the proposed project might provide.
Topic 8 – Problem Solving and Creativity (prof. Robert Kopal, PhD)
The research shows that we tend to have a poor understanding of logic and of the basic principles of probability necessary for good decision-making, and that our reasoning tends to be flawed in predictable ways that reflect the influence of fallacies, biases, and mental shortcuts. It also shows that we tend to be overconfident in our own levels of knowledge and reasoning ability, and that we tend to have a poor awareness of our own reasoning processes. This module aims to provide insight and awareness of stated mental / cognitive constraints and to propose tools / approaches to reduce their influence at least while most important decisions are being made.
- How we think (fast vs. short mode)?
- Learn your own biases and mental shortcuts
- How heuristics and typical fallacies influence our reasoning?
- Problem-solving techniques: probability, utility, pondering
- Synergic effect of intuition and structure in decision making
- Taxonomy of problem solving and analytical thinking techniques
Game Theory in business environment – workshop
Game theory is by its definition mathematical modelling of strategic interaction among rational (and irrational) agents. By applying simple and applicable elements of game theory, you will maximize your business results in case of victory, and minimize the loss in case of defeat. Sometimes in challenging business situations skills and knowledge is not enough to win, you need to play the game and have winning strategy. Game theory can be directly applied in areas of negotiation, such as contract theory and indirectly applied in practical pursuits such as engineering, information technology and computer science. At least you should be able to quickly recognize typical game theory market scenarios / setups you should avoid once you notice them.
Topic 9 – Project management in rapidly changing environment (Marko Šimac)
Rapidly changing environments are a newly recognized and increasing challenge in the field of project management. Traditional prescriptive approaches, orientated around process control, are considered suboptimal in meeting this challenge. Still, most organizations still follow “old school” approaches and thus end up with significant percent of their projects being not successful (either missing deadline, missing budget or even worse, achieving initially set goal which should have been completely changed months / years ago).
- Iterative and adaptive methods and approaches
- Global trends and methodologies in PM
- Consistency of execution across an organization
- A framework for Project Managers
- Plan, but expect the unexpected
- Scale activities up or down to suit real project needs
- Risk and uncertainty
Project Teamwork: From Failure to successful Launch with iterative (lean) Project Planning
In this module, you will identify the project management approaches and modern project management / collaboration tools used by experienced practitioners to respond to rapidly changing environments. You will participate in digitally supported simulation in order to experience project planning / implementation in complex environment, visiting different typical roles.
Topic 10 – Managing and Leading People in Global Environment (prof. Keith Dayton, PhD)
You will evaluate and critically interpret functions, models, methods and programs of human resource management/leadership in business practice, with emphasis on those focused on employee behaviour. You will get to know most common approaches to leadership and will be acquainted with insight and understanding of psychology behind our motivation, decisions and actions and different social interactions in domestic and international environment.
- Approaches to Leadership and distinction between leadership and management
- Are leaders born or grown? Continuing education of managers and leaders
- Importance of external and organizational environment
- Social, cultural and organizational consequences of globalization and increased competitiveness
- Personal evaluation and assessment
- Applied motivational Theory
Knowing yourself, Personal development plan: Embrace your Strengths
Through participation in interactive negotiation simulation and latter peer review, assessment and peer feedback based on video materials produced during the negotiations, students will raise awareness of their communicational and leadership potentials / pitfalls. Design a Personal Development Plan that leads to lasting professional results by using tools and applications. Check your development with your mentor.