Business Control (5cr)

Qualifications

Profitable Business 1 and 2 (or equivalent knowledge)

Learning outcomes

The student is able to
- prepare reports for management planning and control purposes
- prepare budgets, forecasts and variance analysis
- choose relevant Key Performance Indicators (KPIs) for planning and control
- use the Balanced Scorecard concept to implement strategy and monitor performance

Teaching methods

A Canvas learning environment is used to support the implementation, but it is important to take part in teaching and guidance on campus according to schedule. The study unit includes individual and group assignments.

Time and location

Please check from Timetable Engine at https://lukkarit.laurea.fi/ for the schedule information. Laurea reserves the right to modify the timetable.

Learning materials and recommended literature

Different materials are given in Canvas.

Alternative completion methods of implementation

According to the degree regulations (2024), Students are entitled to apply for recognition of prior learning regardless of where, when and how the competence has been acquired.

At Laurea, there are two different procedures for the recognition and accreditation of prior learning: a) accreditation of prior learning (competence acquired in higher education studies at another institution) and b) demonstration of competence (competence acquired in other ways). The recognition and accreditation of prior learning is initiated by the student themselves. The student is responsible for demonstrating and verifying their competence. The student is entitled to guidance for the recognition and accreditation of their competence. Further information in the student intranet.

You may also assess work-based learning as a way to acquire the competence needed. Read more in the student intranet.

Co-operation with working life and/or RDI

Visits and/or visitors from different companies and cooperation with IT companies during the course.

Important dates

Based on the degree regulations (2024), the student accepted for the implementation is required to confirm their participation by showing activity at the start of the study in the following way:

In order to demonstrate activity, the student must be present at the first contact lesson or notify the teacher in charge of their absence to confirm their participation in the study. Registration will be rejected if the student does not report their absence at the start of the study or the reason for the absence cannot be considered justified. Another student can be taken in their place.

Forms of internationality

The study unit is suitable for exchange students.

Student workload

Workload of the study is measured in a way that to acquire the goal competence of the study, one credit corresponds to an average of 26.7 hours of work done by the student. The actual time needed varies e.g. according to prior competence.

Content and scheduling

Course includes studies related to budgeting, management reporting, capital budgeting and pricing.

Further information

The study unit corresponds to the requirements of Bachelor level education.

The prerequisite for participation is always that the possible competence prerequisites according to the curriculum (previous study or similar competence) are fulfilled. The student is responsible for taking into account the prerequisite conditions.

Evaluation scale

H-5

Evaluation methods and criteria

Competence assessment is based on the descriptions of objectives in the curricula, and the level of competence is assessed according to the assessment criteria listed in the implementation plan for the studies (Laurea degree regulations 2024).

In this study unit the assessing of the competences will be done by using the criteria set for requirement level II.

Professional knowledge basis, information searching and reporting

To achieve grade 5 student must be able to
- analyse the acquired information, draw conclusions and combine theoretical knowledge with experiential knowledge

To achieve grade 3 student must be able to
- critically evaluate information and justify their actions with science-based knowledge

To achieve grade 1 (or pass) student must be able to
- use professional concepts in a consistent manner and demonstrate their familiarity with the knowledge basis
- report and communicate in a professional manner

Professional practice and workplace development

To achieve grade 5 student must be able to
- evaluate the applicability of produced knowledge, skill or idea to other contexts as well as their impact
- anticipate needs of customers and/or co-operation partners

To achieve grade 3 student must be able to
- propose creative solutions at work
- promote professional co-operation and enhance customer and partner relationships

To achieve grade 1 (or pass) student must be able to
- act independently taking into account the operating environment
- take responsibility for interaction with customers and/or co-operation partners and for responding to their needs

Teamwork, skills, leadership, and responsibility

To achieve grade 5 student must be able to
- evaluate and develop the team’s entrepreneurial and responsible approach to work
- evaluate the possibilities for utilising competence and plan their personal development and development of the team

To achieve grade 3 student must be able to
- act in a manner that promotes the team’s entrepreneurial and responsible approach to work
- describe the development of their competence in relation to the learning outcomes

To achieve grade 1 (or pass) student must be able to
- describe the significance of their actions for successful co-operation
- describe their competence in relation to the learning outcomes

“Students who have failed to demonstrate their competence in accordance with the approved level must supplement or retake their study attainment in a manner and schedule defined by the teacher of the study unit. If the student does not pass the assessment despite the opportunity to complete their study attainment, they must complete the study unit in question in full as specified by the teacher.” (Degree regulations 2024.)

All staff and students of Laurea are expected to adhere to good scientific practices, which includes appropriate referencing. Familiarise yourself with the practices and, if needed, ask for more information. All study assignments are to be done as individual work unless otherwise instructed. If Tournitin is used when assignments are checked, the lecturer will inform the students of this.