The Marketing and Financial Management module starts with an introduction to the nature of marketing and explains how the marketing function fits within the organisation. The module looks at how actors outside the core marketing function, such as engineering, engage in marketing activity. The module explores the broad scope of marketing activity and will help develop an understanding of the core concepts underpinning the field.
The module then moves on to cover the area of financial management, enabling managers to interpret and apply financial information in their decision making. This requirement does not mean that managers have to become accountants, but it does mean that managers have to understand the fundamental principles of financial management and accounting.
Managers cannot discuss the cost and finance implications of activity without an appreciation of the processes, information sources, and methods of presentation of financial information. This part of the module provides students with an appreciation of the perspective and tools available to accounting and finance professionals, and perhaps most importantly the limitations and caveats to the financial information that they can provide.
Learning Outcomes
By the end of the module students should be able to:
Explain the contribution of marketing in the context of the global competition, instability and dynamism that characterise typical marketing environments.
Apply marketing analytical frameworks, tools, techniques and skills to analyse a broad range of contexts and scenarios.
Interpret and critically appraise the main financial statements: the profit and loss account, the balance sheet and a cash flow statement.
Explain the principles and methods of costing, and how cost information can be used to support decision making.
