Podcast
Questions and Answers
Which of the following fields is NOT listed as one of Florian Nemetz's research interests?
Which of the following fields is NOT listed as one of Florian Nemetz's research interests?
Which of the following is NOT a position Florian Nemetz held prior to his current role as Prae Doc at WU?
Which of the following is NOT a position Florian Nemetz held prior to his current role as Prae Doc at WU?
In which year did Florian Nemetz start his Prae Doc position at WU?
In which year did Florian Nemetz start his Prae Doc position at WU?
Which of the following courses does Florian Nemetz teach at WU?
Which of the following courses does Florian Nemetz teach at WU?
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What is Lea Scheiter's highest qualification mentioned in the text?
What is Lea Scheiter's highest qualification mentioned in the text?
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What is one of the activities planned for getting to know each other in the course?
What is one of the activities planned for getting to know each other in the course?
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Which macro topic focuses on Company, Structure, Financing, and Legal Form?
Which macro topic focuses on Company, Structure, Financing, and Legal Form?
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On which date is the Mid Term Presentation scheduled?
On which date is the Mid Term Presentation scheduled?
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What will students discuss in the 'Getting to know each other' activity?
What will students discuss in the 'Getting to know each other' activity?
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What is one of the topics covered on December 7, 2025?
What is one of the topics covered on December 7, 2025?
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What should students submit for the presentation slide?
What should students submit for the presentation slide?
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What is discussed on December 5, 2024?
What is discussed on December 5, 2024?
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What will be a focus of the session on January 9, 2025?
What will be a focus of the session on January 9, 2025?
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What was Lea Scheiter's prior work experience?
What was Lea Scheiter's prior work experience?
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Which research interest is NOT associated with Carola Wandres?
Which research interest is NOT associated with Carola Wandres?
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In which university did Alessio Delpero complete his PhD?
In which university did Alessio Delpero complete his PhD?
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Which teaching subjects does Carola Wandres cover at WU?
Which teaching subjects does Carola Wandres cover at WU?
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Which of the following research interests does the Institute for Strategy, Technology and Organization NOT focus on?
Which of the following research interests does the Institute for Strategy, Technology and Organization NOT focus on?
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What is one of Juan-Nikolas Engel's roles at WU?
What is one of Juan-Nikolas Engel's roles at WU?
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What degree did Carola Wandres achieve at Mannheim University?
What degree did Carola Wandres achieve at Mannheim University?
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What specialization is NOT offered to BBE students at WU?
What specialization is NOT offered to BBE students at WU?
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What is one of the major contributions of the Institute for Strategy, Technology and Organization?
What is one of the major contributions of the Institute for Strategy, Technology and Organization?
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What work experience does Alessio Delpero have?
What work experience does Alessio Delpero have?
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Which organizational form is a focus for the Institute for Strategy, Technology and Organization?
Which organizational form is a focus for the Institute for Strategy, Technology and Organization?
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Which course is included in the curriculum taught by Lea Scheiter at WU?
Which course is included in the curriculum taught by Lea Scheiter at WU?
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Which country did Carola Wandres study abroad in besides Brazil?
Which country did Carola Wandres study abroad in besides Brazil?
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Study Notes
Business/Business Planning Session 1
- The session took place on December 3, 2024.
- The session was about understanding business/business planning.
- The presentation is from the Wirtschaftsuniversität Wien.
Getting to Know Each Other (Page 2)
- Florian Nemetz: MSc, MSSc; [email protected]
- Prae Doc @ WU: September 2023.
- Prior work experience included data and research management, project research, assistant, psychometrics and self-employed teaching.
- Areas of teaching include Strategy and Innovation, Understanding Business/Business Planning.
- Research interests encompass social movements, innovation and digital technologies in healthcare, innovation in non-hierarchical organizations and tourism.
Getting to Know Each Other (Page 3)
- Lea Scheiter: MSc; [email protected]
- Education: Bachelor of Business Administration and Economics, University of Passau, semester abroad in Pori, Finland and a Master in Applied Economics, University of Innsbruck.
- Prae Doc @ WU: November 2024.
- Prior work experience: KPMG Austria, Audit
- Teaching @ WU: Understanding Business/Business Planning (BBE)
- Research interests include Behavioral Economics, Open and User Innovation and Artificial Intelligence.
Getting to Know Each Other (Page 4)
- Carola Wandres: MSc; [email protected]
- Prae Doc @ WU: May 2017.
- Education: MSc Management @ Mannheim University, BSc International Business @ HS Pforzheim, semester abroad at FGV, Rio de Janeiro, Brazil and Belgrano University, Buenos Aires, Argentina.
- Prior work experience: Project Manager, Project Supervisor, Strategy Consultant and Analyst.
- Teaching @ WU: InnoLab, Business Planning, Scenario Planning, Entrepreneurial Practice, Product/Service Design, Strategic Management of Innovation, Challenges of Open Innovation (Bachelor E&I specialization) and Understanding Business/Business Planning.
- Research interests include creativity, individual decision-making, Lab experiments.
Getting to Know Each Other (Page 5)
- Alessio Delpero: PhD MBA; [email protected]
- Education: PhD Bocconi, MBA Rotman + HSG, MSc Bologna
- Prior work experience - 25+ years in the sport & hospitality industry
- Teaching @ WU: Conceptual and applied courses at Bachelor & Master level.
- Research interests include innovation from knowledge reconfiguration and creativity in creative industries
Institute for Strategy, Technology and Organization (Page 6)
- IfSTO (Institute for Strategy, Technology and Organization).
- IfSTO Focus: New Organizational Forms for Innovation, Business Ecosystems, User-Centered Innovation, User Communities, Open Innovation, Business Model Innovation, Selective Revealing, Crowdsourcing, Crowd Evaluation.
- Research: Significant contribution to the scientific debate, Empirical research, Development of meaningful managerial implications and collaborations with international top researchers.
- Teaching: Transfer of state-of-the-art knowledge, provision of relevant skills and competencies and lectures with high degrees of timeliness.
Our Tutor (Page 7)
- Juan-Nikolas Engel: [email protected]
- BBE Student: 5th Semester.
- BBE Specializations: Sustainability, Strategy and Managerial Accounting, Entrepreneurship and Innovation.
- Double Degree Student: International Management - QUT Brisbane, Australia.
- Prior Work Experience: CNL Sustainability Consulting
Getting to Know Each Other (Page 8)
- Snowball fight?
- Introduce yourselves, introduce the institute and start thinking of case and exam questions.
- Juan: Team allocation will be on Monday, December 2nd. Prepare a canvas for the presentation and send a picture for the presentation slide.
Speed Connections! (Page 9)
- Pair with 2-3 neighbours.
- Briefly talk about free-time activities, interesting places visited, hopes for the course, and a business idea.
The Course Content in Broad Terms (Page 10)
- Dates, Lecturer, Macro Topic, Micro Topic are listed.
- The content ranges from introducing basic concepts (company, structure, financing, legal form) to finance-related topics (assessing your finances, the money side of things) and concludes with innovation and final exam.
Expectations (Page 11)
- Entrepreneurial Studying: Proactive behavior, think for yourself and make constructive suggestions
- Compulsory Attendance: Considerate and efficient time management, Punctuality, Don't keep colleagues waiting.
- Fairness: respect to fellow students and stakeholders
Assessment Criteria (Page 12)
- The final grade depends on Mid-Term Presentation (30%), Group Task (20%), Final Written Exam (45%) and In-class participation (5%).
- All parts must be completed.
- Grading scale consists of Excellent (1), Good (2), Satisfactory (3), Sufficient (4) and Fail (5)
Deliverables in Detail (Page 13)
- Startup idea by December 5, 2024 (conceptual).
- Mid-term presentation on December 19, 2024 (slides).
- Financial report by January 21, 2025 (Word document).
- Final exam on January 23, 2025 (pen and paper, multiple choice and open-ended questions, 60 minutes).
Mid-term Presentation (Page 14)
- 10 teams, 12 minutes each.
- Team members are not mandatory to present.
- The presentation should include Vision and Mission, Customer needs & product USP, Market size and competitor analysis, and a business model canvas.
Group Task: Financial Report (Page 15)
- Each team selects and analyses a publicly traded company.
- Downloads Form 10-K (or equivalent).
- Focus on Management Discussion & Analysis, financial statements and notes.
- Critically analyzes statements and assesses the company using key metrics.
- Due on January 21, 2025, 23:59
AI-Policy (Page 16)
- AI tools (such as ChatGPT) can be helpful.
- Conduct independent research.
- Clearly cite AI tool use.
- Responsible for project outcome.
Our Platform: Canvas (Page 17)
- Relevant course materials are uploaded to Canvas.
- Use Canvas for all submissions.
- Canvas can be used for team collaboration.
Team Composition (Page 18)
- Group tasks involve teams of 5–6.
- Teams are randomly assigned and remain constant for the semester.
- Check Canvas for team assignments.
- Troubles solve internally. Keep polite and respectful. Follow agreed decisions.
Documentation and Remote Group Work (Page 19)
- Setup Dropbox for documents, pictures, presentations and reports.
- Invite all team members.
- Use Google Docs for documenting interviews & observations.
- Documentation Templates are provided.
- Use Trello or Monday.com for project planning and management.
Team Task – Marshmallow Challenge (Page 20)
- Creativity, teamwork and problem-solving challenge.
- Construct the tallest freestanding structure using provided materials.
- 30 minutes for design, building, and perfecting the structure.
- Don't wait until the last second to test the structure. Try various solutions and adapt quickly. Be creative!
Intro to business planning (Page 21)
- Intro to business planning is about company structure, financing and legal form.
Intro to business planning (Page 22)
- Four key questions to be answered: What is business planning?, Who needs business planning?, Why do we need business planning?, When do we need business planning?
Fundamental Question (Page 23)
- What is an organization?
An organization is (Page 24)
- A multi-agent system with identifiable boundaries and system-level goals, toward which the constituent agent’s efforts are expected to contribute.
What is a company? (Page 25)
- Defining the concept of a company.
Why do companies need to be organized? (Page 26)
- Companies need to be organized to divide labor, coordinate units, and ensure cooperation.
Four universal problems of organizing (Page 27)
- Task division, Task allocation, Reward allocation and Information flows are critical aspects in organization.
Small companies (Page 28)
- Task division, Task allocation, Reward allocation and Information flows are essential to small/early stage companies.
Small companies (Page 29)
- Task division, Task allocation, Reward allocation and Information flows are necessary in smaller organizations.
Who provides capital to these companies (Page 30)
- Family, Friends, Fools, Banks (sometimes), and Venture capitalists (sometimes).
Banks or VC? (Page 31)
- Debt: Risk of insolvency, but full ownership.
- Equity: Relocation of risk, but dilution of ownership.
What legal forms do these companies (usually) have? (Page 32)
- Unlimited liability: Sole proprietorship, General partnership (GP), Limited partnership (LP), Einzelunternehmen, Offene Gesellschaft (OG), Kommanditgesellschaft (KG), Ditta individuale, Societa
in nome collettivo (Snc), Societain accomandita (Sas). - Limited liability: Limited Liability Company (LLC), Corporation (C-Corp or S-Corp), Gesellschaft mit beschränkter Haftung (GmbH), Aktiengesellschaft (AG), Societa
a responsabilitalimitata (Srl), Societa` per azioni (Spa), Societa in accomandita per azioni (Sapa).
An interesting case (Page 33)
- FlexCo is an example of a newly emerging legal entity in Austria.
Second phase (Page 34)
- Task division, Task allocation, Reward allocation and Information flows
Second phase (Page 35)
- Task division, Task allocation, Reward allocation and Information flows
- Functional Structure: Units are arranged by task similarity (example: R&D, MKTG, Prod).
Functional Structure (Page 36)
- Typically used in small businesses with simple product lines and stable markets for efficient organization and cost savings.
Who provides capital to these companies (Page 37)
- Banks, FFFs and Venture Capitalists are providers of capital.
What legal forms do these companies (usually) have? (Page 38)
- The document lists various legal forms for companies in terms of unlimited and limited responsibility.
Functional Structure (Page 39)
- Advantages include technical excellence, cost savings, and specialisation, single accountability for each function, standardization and control systems.
- Disadvantages include no accountability for profits/losses, difficult to develop general management expertise, expanding to new products and markets and problems of coordination and cooperation (due to independent goals).
The next step (Page 40)
- Task division, task allocation, reward allocation and information flows.
The next step (Page 41)
- Task division, task allocation, reward allocation and information flows
- Divisional Structure: Units arranged by product/markets (example: cars, bikes, trucks)
Divisional Structure (Page 42)
- Used when products, regions or customers demand distinct management logics; different product technologies and products with high volume allows for economies of scale.
Who provides capital to these companies (Page 43)
- Banks and Stock Markets are providers of capital.
What legal forms do these companies (usually) have? (Page 44)
- Companies with unlimited responsibility are: sole proprietorship, General partnership, limited partnership, sole tradership and different kinds of partnerships.
- Companies with limited responsibility are: Limited Liability Company, corporation, limited liability company (GmbH), Actiengesellschaft (AG), S.r.l, S.p.A., and S.a.p.a.
Divisional Structure (Page 45)
- Advantages include: clear responsibility, easy comparison, improved resource allocation, better management motivation, the development of product/market expertise, and top-management succession.
- Disadvantages include duplication of resources across divisions, competition amongst units, obtaining synergies (innovation, marketing) across the divisions, and problems of coordination among different functional departments.
Finally (Page 46)
- Task division, task allocation, reward allocation, information flows.
- Matrix Structure: Units arranged by both product/markets and tasks (example: R & D, cars, bikes, MKTG).
Matrix Structure (Page 47)
- Used for large-scale integration across multiple products/markets, integrating specialized resources, and maintaining product/market expertise.
Who provides capital to these companies (Page 48)
- Banks and capital markets provide capital.
What legal forms do these companies (usually) have? (Page 49)
- The document provides a summary of the different legal forms (unlimited liability and limited liability) and their meaning to companies in terms of responsibility.
Disclaimer (Page 50)
- General disclaimer
Questions? (Page 51)
- A basic question page to encourage students to ask questions.
Matrix Structure (Page 52)
- Advantages include integration of technical and product expertise, flexible allocation of resources across different product lines/markets.
- Disadvantages include complex system, excessive staff, high coordination/communication, and resolving conflicts.
Why do firms need an organization? (Page 53)
- A humorous visual representation illustrates the issues that occur within an organization.
Task for Next Session (Page 54)
- The assignment for the next session is on the definition of a startup idea and defining the task (division, evaluation, allocation, information flow).
- In this context, students need to define the tasks responsible for each one of the mentioned topics.
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Description
Test your knowledge about Florian Nemetz and the Prae Doc course at WU. This quiz covers his research interests, teaching responsibilities, and key course dates and activities. Discover how well you know the program's structure and objectives.
