Integrated Business Curriculum

Main objectives Main goal is to enable students, through practical and theoretical knowledge, to start their own business Develop attitudes and skills necessary for personal success; lifelong learning and employability Gain an understanding of the potential SMEs (Small and Medium Enterprises) as future employers Consider self-employment and business creation as possible future career options

Description The IBC programme is not a business game, but a real business experience which is implemented over a full academic year. Divided in two courses – IBC 1 (winter semester) and IBC 2 (summer semester) IBC 1 is more theory intensive, while IBC 2 focuses on practical and real-world experiences

Incorporates practical and theoretical knowledge from: Management, HR and Crisis management Business law Marketing and logistics Finance and accounting

Implementation Students are divided in smaller groups, discussing business ideas and products – several alternatives are chosen Each group takes an idea and makes a preliminary marketing research, presenting it to the whole class The class votes on the ideas and choses the best and most viable business idea Students form the company and organizational structure, including a management team and several departments (usually production, marketing, finance, law and Human Resources) Organizing an IPO

Implementation A comprehensive business plan is created for the lifetime of the company. The plan is presented in front of business experts and APERM (Agency for Promotion of Entrepreneurship in the Republic of Macedonia) Departments organize themselves with various activities regarding production of the product/service and marketing Students organize sales events and direct sales in the period of 2-3 weeks Performance and success evaluation Liquidation of the company

Specific objectives Develop personal skills including: Working as a team, Communication, Decision-making, Time management, Creative thinking Gain an understanding of how a company works in totality, particularly: Marketing, Operations, Finance, Quality, Customer satisfaction Gain an understanding of the wealth creation process through: Share ownership, Understanding finance, Understanding adding value, Understanding innovation

Learning outcomes The Integrated Business Curriculum is not a business game, but a real experience which is run during the academic year. Through the program students will discover for themselves how a business functions in a real-life scenario. They will develop skills such as: Working as a team Leadership Influencing others Building relationships Business Planning Financial management and control Taking responsibility for their actions

Grading system Exams 60% Company program 40% Two exams taken where each exam has maximum 30 points on the total final scale, amounting to total of 60 points Exams 60% Attendance at classes – 10 points Student’s Performance – 20 points Company’s Success (Profit, Sales) – 5 points Extra Performance/Engagement – 5 points Company program 40%

Resources and tools 4 professors mentoring Classroom with materials Individual and group consultations Classroom with materials Includes lessons, practical exercises and computers Access to digital media Banners, pictures and promotional texts, as well as social media platforms for promotion Physical marketing instruments Location and materials for selling products/services Access to business experts

Examples