MCI eSTUDY | ONLINE FURTHER EDUCATION PROGRAMS

After completion of this course, students can

• explain the generally accepted accounting principles (GAAP) and apply these rules to business transactions throughout the fiscal year and at year-end.
• utilize the double-entry accounting system for bookkeeping, including transactions related to company establishment, acquisitions, production, sales, and other supporting activities.
• understand the role of financial accounting in achieving the sustainability goal of responsible consumption and production (SDG No. 12) and apply accounting practices that support this goal.
• describe the application and functioning of the Value Added Tax (VAT) System and implement it in business transactions.
• value assets and liabilities at year-end accurately and make necessary adjustments to reflect a true and fair view of a company's financial status and operational results.
• read and interpret a trial balance to manage a company effectively.
• understand the general aspects of the three Financial Statements (Balance Sheet, Income Statement, and Cash Flow Statement) and articulate the content of each.

After completion of this course, students can

• understand the role of management accounting as a key support system for making management decisions.
• perform detailed financial statement analyses to evaluate a company's financial situation.
• demonstrate fundamental knowledge of cost and performance accounting principles.
• apply cost and performance accounting techniques independently to real-world business scenarios.
• acquire skills in strategic and operative planning, learning how to set realistic goals and allocate resources efficiently.
• develop expertise in budgeting processes, understanding how to prepare, manage, and adjust budgets in response to changing business conditions.
• analyze and interpret financial data to inform strategic planning and budgeting decisions.
• make informed, ethical financial decisions by considering the long-term sustainability and social responsibility of business practices.

After completion of this course, students can

• explain the significance of human relations in modern personnel management and leadership practices.
• outline major trends in Human Resource Management (HRM) and interpret their implications for organizational strategies.
• analyze the influence of context and environment on HRM practices and adapt strategies accordingly.
• describe various approaches and tools for personnel planning, including forecasting, recruiting, and keeping talent.
• design typical steps for employee training, development, and onboarding processes.
• identify factors that contribute to making an organization attractive to potential employees.
• understand how to keep human resources activated.
• evaluate current developments and emerging trends in leadership theories.
• demonstrate an understanding of the influence of leadership styles on organizational outcomes and the role of culture in the context of leadership.

After completion of this course, students can

• demonstrate an understanding of the value of money and its significance in financial management decisions.
• apply interest calculation methods and assess the present value of annuities.
• define financial management and its role within an organization's strategic framework.
• identify and describe the basic characteristics of various financing instruments.
• develop and interpret a company's short-term financial plan, identifying potential cash flow issues and financial needs.
• explain the concept of financing and its critical role in supporting a company's operations and growth.
• differentiate between ethical and unethical financing instruments.
• comprehend the concept of investments and the strategic considerations involved in making investment decisions.
• apply both static and dynamic evaluation methods to assess investment opportunities and projects, determining their financial viability.

After completion of this course, students can

• define marketing and distinguish it from related concepts, such as sales and advertising.
• describe the micro- and macroeconomic factors influencing a company's ability to reach its customers effectively.
• outline the key steps involved in developing a customer-centric marketing strategy, including market segmentation, targeting, differentiation, and positioning.
• use suitable instruments of the marketing mix to implement marketing strategies.
• understand various concepts of sales organizations and processes in sales.
• develop fundamental sales strategies.
• plan budgets and assess the performance of sales
• critically evaluate unethical marketing and sales practices and their implications for businesses and society.

After completion of this course, students can

• define quality and quality management.
• understand the importance of customer requirements.
• apply ISO 9001 principles for assuring and improving customer satisfaction.
• apply Total Quality Management (TQM) principles effectively.
• utilize various quality management methods such as PDCA cycle, 5 Whys, and seven quality control tools.
• understand the differences between products and services from a quality perspective.
• grasp the fundamentals of Business Process Management (BPM) and its lifecycle.
• develop skills in process modeling, analysis, and improvement.
• master classical project management approaches, including planning, execution, and risk management.
• understand agile project management principles, including Scrum and Kanban, and their application in professional contexts.

After completion of this course, students can

• define the central terms and concepts of operations and supply chain management, understanding their roles and importance in business operations.
• identify the connection between business strategy and operations management strategies.
• understand different production processes, including their specific characteristics and applications in various business contexts.
• describe the central functions of logistics within the supply chain.
• recognize the importance of sustainability in logistics and operations management and apply sustainable practices in these areas.
• plan and manage inventory using various management methods.
• be familiar with different approaches to production management.
• gain a basic understanding of the central data structures important for production management and how they support operational decision-making.
• understand the information needs across the supply chain and be knowledgeable about the information systems designed to meet these needs.
• comprehend the major concepts of lean production and be aware of the latest developments in the field, including how they can be applied to improve operational efficiency.

After completion of this course, students can

• explain the purpose of organizations and analyze the internal and external environments impacting organizations.
• identify and categorize organizational stakeholders using various methods.
• understand how organizational theories influence structure, design, culture, and change.
• formulate strategies at various levels and understand the importance of sustainability in strategy formulation.
• manage organizational structure effectively and adapt it as the organization grows.
• evaluate different types of organizational structures and their advantages and disadvantages.
• understand the role of organizational culture and apply concepts for analyzing it.
• explain organizational change and apply theories of change.
• apply frameworks for change management in organization.

After completion of this course, students can

• define what constitutes a decision and differentiate between various types of decisions.
• classify decisions based on their complexity and impact on organizational outcomes.
• explain the fundamentals of Game Theory and its applications in decision-making processes.
• apply knowledge-based decision-making techniques to analyze and solve complex problems.
• identify, weigh, and evaluate criteria effectively to make informed decisions.
• demonstrate proficiency in making team decisions and leveraging collective intelligence.
• use tools such as decision support systems or decision tress.
• recognize common decision biases and implement strategies to mitigate their influence.

After completion of this course, students can

• understand different economic systems and their implications.
• analyze market dynamics using supply and demand curves.
• interpret key economic indicators such as gross domestic product (GDP), unemployment rates, inflation rates, and national debt, understanding their implications for economic health and policy.
• recognize the limitations of these economic indicators in fully capturing the economic and social well-being of a nation.
• discuss the concept of CO₂ pricing, including its potential advantages and disadvantages as a tool for addressing environmental challenges.
• understand the mechanisms of fiscal and monetary policy and their impact.
• apply acquired economic knowledge to analyze and interpret economic news, newspaper articles, and specialist articles, enhancing understanding of current economic issues.
• understand economic interrelationships and the connections between economic goals and ecological as well as political issues.

After completion of this course, students can

• define and comprehend the structure and sources of the Austrian Legal System.
• differentiate between civil law and common law systems and understand their implications.
• identify and understand the hierarchy of courts in Austria.
• understand absolute and relative rights, legal relationships, and legal capacity.
• evaluate contract law fundamentals and recognize different types of contracts.
• understand the significance and drafting considerations of General Terms and Conditions.
• compare and evaluate different types of contracts.
• know the basics of commercial law and company/corporate law.
• analyze property law principles.
• know the principles of damages and warranty law.

After completion of this course, students can

• effectively manage their time and prioritize tasks to maximize productivity and efficiency.
• utilize digital tools to search, retrieve, analyze, and organize information effectively.
• recognize the importance of adopting a Growth Mindset for personal and professional success.
• differentiate between various learning strategies and techniques to optimize their learning process.
• apply digital tools and technologies to enhance their learning experience and outcomes.
• define the components and significance of digital competence in today's digital age.
• demonstrate proficiency in using different learning strategies and techniques to tackle various learning challenges.
• evaluate the effectiveness of different digital tools and technologies for learning purposes and select appropriate ones for their needs.
• collaborate effectively with peers and instructors in digital learning environments to enhance their learning experience.
• reflect on their learning journey and continuously improve their digital competence and self-management skills to achieve their academic and professional goals.

After completion of this course, students can

• build knowledge of cultural context, practical implications, and language for effective communication and begin the journey towards developing intercultural competence.
• explain various models for classifying cultures and apply this understanding in different contexts.
• understand the difference between ideal culture and real culture, and how cultural values shape human behavior.
• describe attitudes, their influence on behavior, and develop strategies for effective intercultural communication.
• define beliefs, explore their formation, and apply this knowledge across different contexts.
• understand cultural identity, analyze concepts of self across cultures, and appreciate their role in intercultural dialogue and respect.
• evaluate cognitive biases, recognize prejudices and stereotypes, and challenge them in thinking and behavior.
• explore communication components, styles, and models, and adapt communication strategies for diverse cultural backgrounds.
• identify successful leadership behavior for diversity, equity, and inclusion (DEI).
• recognize successful intercultural leadership behavior, collaborate effectively with diverse teams, and apply this learning in various contexts.

After completion of this course, students can

• understand the role and importance of business communication within organizational contexts.
• introduce themselves and others confidently in professional settings to enhance networking and build relationships.
• employ various language learning techniques, such as listening and reading strategies, effectively.
• demonstrate proficiency in functional language, collocations, and idioms used in business contexts.
• apply English grammar accurately, including punctuation, use of active voice, cleft sentences, ellipsis, and expressions about unreal situations.
• compose effective business emails across different levels of formality.
• develop tailored business reports, considering the audience, purpose, and context.
• accurately describe figures and graphs to effectively communicate visual information.

After completion of this course, students can

• understand the evolution of communication over time
• gain awareness of their communication styles / coping stances
• identify mechanisms leading to dysfunctional communication and generating misunderstandings, and hence intrapersonal and interpersonal conflicts
• improve their listening and expressing qualities for more constructive interactions in the personal, professional, and social spheres of their lives
• explore a current/recent conflictual situation in their personal, professional, or social life and transform a conflict through congruent communication

After completion of this course, students can

• understand the primary goals and foundational principles of statistics.
• differentiate between types of data and understand the appropriate methods for their transformation and analysis.
• describe data using various parameters, distributions, and illustrations to convey information effectively.
• explain the process of hypothesis testing, including the formulation of null and alternative hypotheses, selection of appropriate tests, and interpretation of results.
• express and analyze the relationships between variables using suitable indicators such as correlation coefficients and regression models.
• execute statistical tests for independence to determine if there is a significant relationship between two categorical variables.
• identify ethical and unethical practices in statistical analysis, understanding the implications of each and committing to uphold integrity in their analyses.
• comprehend and adhere to ethical guidelines when collecting, analyzing, and presenting data, ensuring respect for privacy, consent, and accuracy.

After completion of this course, students can

• define Business and Management Research and describe the Research Process comprehensively.
• generate research topics, narrow them down, and formulate precise research questions effectively.
• understand the importance of literature and conduct literature searches using various strategies and databases.
• assess the quality and relevance of literature efficiently.
• know how to work with literature by applying strategies for organizing and reading academic literature.
• develop and critically analyze academic arguments, identifying logical fallacies and applying argumentative strategies.
• apply the APA style for citations, maintain bias-free language, and avoid plagiarism by adhering to the standards of academic integrity.
• structure written work effectively, organize themes and chapters, and construct paragraphs and sentences coherently.
• utilize storytelling techniques to enhance academic writing and produce high-quality written work.

After completion of this course, students can

• understand the quantitative research process and differentiate between quantitative/qualitative and explanatory/exploratory research.
• understand the importance of hypotheses and operationalization in quantitative research.
• demonstrate knowledge of various options for operationalizing research terms and apply basic quality criteria for quantitative research.
• identify and justify appropriate research designs in quantitative research.
• apply sampling methods to collect data.
• design surveys by building own questionnaires or using existing ones.
• understand the principles of inferential statistics and interpret quantitative scientific results accurately.
• run and interpret multivariate regression models to analyze relationships between variables comprehensively.
• read and interpret quantitative survey results.