Economic and Basics of Business

The nature and objectives of the economy. The role of the economy as a social science and its fundamental issues of needs and scarce resources. Key economic concepts and functions. Socio-economic indicators and their importance. Description of micro, macro, and global processes. The foundations of the circular economy and the shadow economy, the factors affecting it. The role of the economist, the principles of economic thinking and the role of data in decision-making. The topic provides a framework for understanding economic processes in the country and the world.

The nature and importance of demand and supply in the market. The laws on demand and supply, their graphic representation and off-price factors. Types of flexibility and influencing factors. The balance of the market, its formation and changes. Types of competition and characteristics of market structures. Pros, cons and examples in today’s market situations.

Key concepts of the economy and the fundamental problem – the contradiction of unlimited needs and scarce resources. Economic objectives and principles for sustainable development. Production factors and resource utilization opportunities. Characteristics of microeconomics and macroeconomics, their common and different characteristics. Positive and regulatory economic approaches. Economic structure and factors influencing economic decision. The importance of economic policy and macroeconomic objectives that ensure the long-term development of society.

The nature of economic systems and their role in the functioning of society. The main types of economic systems and their characteristic principles, their differences and resource allocation mechanisms. The pros and cons of different systems, their impact on societal well-being. Modern trends – mixed systems.

The concept, nature and objectives of entrepreneurship. Definitions of economic, business and commercial activities and their differences. Status of economic operator and economic operator, concept of enterprise and conditions of registration. Organisational forms of entrepreneurship – self-employed person, individual merchant, partnerships and capital companies, their advantages and disadvantages, levels of liability and basic capital requirements. Social and socially responsible entrepreneurship, their principles and legal framework. Taxes on economic activities, conditions for the application of VAT and basic principles for the liquidation of undertakings. The topic provides an understanding of the choice of business forms, their legal framework and practical application.

The nature and importance of demand and supply in the market. The laws on demand and supply, their graphic representation and off-price factors. Types of flexibility and influencing factors. The balance of the market, its formation and changes. Types of competition and characteristics of market structures. Pros, cons and examples in today’s market situations.

The nature and importance of the business model in business. The role of the business model in creating, delivering and profiting value, its link to the business strategy and business plan. Characteristics of key elements – customer segments, value quote, channels, customer relations, revenue source, resources, activities, partners, and cost structure. Using the “canvas” business model to structure and evaluate a business idea. Conceptual and detailed business models, their application at different stages of the business. The role of the company’s sustainability, social impact and ESG principles in developing the business model.

The nature of the accounting, its tasks and its role in providing the company’s financial information. The main objectives, differences and application of financial and management accounting in decision-making. Key accounting principles and the importance of accounting policy. Financial statement items - balance sheet, profit or loss account, and cash flow statement. Their content and use in the evaluation of the company’s activities. Basic methods of analysis of the company’s economic activity, key financial indicators (liquidity, activity, yield, capital structure) and their interpretation. Organisational aspects of accounting - responsibility, document storage, system of accounts and dual entry.

The concept, nature and objectives of entrepreneurship. Definitions of economic, business and commercial activities and their differences. Status of economic operator and economic operator, concept of enterprise and conditions of registration. Organisational forms of entrepreneurship – self-employed person, individual merchant, partnerships and capital companies, their advantages and disadvantages, levels of liability and basic capital requirements. Social and socially responsible entrepreneurship, their principles and legal framework. Taxes on economic activities, conditions for the application of VAT and basic principles for the liquidation of undertakings. The topic provides an understanding of the choice of business forms, their legal framework and practical application.

The concept of employment legal relations and the regulation thereof in accordance with the Labour Law and other laws and regulations. Rights and obligations of the employee and employer, essential components of the employment contract and procedures for entering into. Organization of working time and rest time - night work, overtime work, breaks. Pay rules - types of salary, allowances, minimum wage, deductions and taxation. Social security contributions and State defined benefits - diseases, unemployment UC. Termination of employment legal relationship - grounds of notice of the employee and employer, severance payments and obligations of the employer in the dismissal process. Types of leave and procedures for granting. Differences between the company contract and the employment contract, the importance of the payroll tax book and the tax consequences in the case of illegal employment.

The nature and role of management in achieving the objectives of the organisation. The management process and its main functions - planning, organisation, motivation and control. Driving levels and driver skills, as well as management styles and their suitability in different situations. The decision-making process and the factors affecting it. Types of organisation structures and their pros and cons.

The role of the manager and the role of power in achieving the objectives of the organisation. The nature of power, its manifestations and its main forms of power - the power of formal, reward, coercive, expert and personality. Subordinates’ reactions to power and factors that affect their confidence, submission or resistance. Methods of persuasion and participation in human work, their advantages and limitations. Personality and professional factors influencing the authority of the manager and the authority. The essence of the leader, the essential qualities of the leader and the role in how the team operates. Effective use of impact methods in the organization and common management problems.

The nature of the accounting, its tasks and its role in providing the company’s financial information. The main objectives, differences and application of financial and management accounting in decision-making. Key accounting principles and the importance of accounting policy. Financial statement items - balance sheet, profit or loss account, and cash flow statement. Their content and use in the evaluation of the company’s activities. Basic methods of analysis of the company’s economic activity, key financial indicators (liquidity, activity, yield, capital structure) and their interpretation. Organisational aspects of accounting - responsibility, document storage, system of accounts and dual entry.

Concept and classification of innovation - product, process, marketing and organisational innovation as well as social innovation and their role in solving societal challenges. Innovation as a continuous process of learning, research and commercialization of new ideas. The characteristics of an innovative enterprise, the core components of the innovation system and the role of knowledge transfer in the economy. Impact of innovation on economic growth, productivity and long-term development of enterprises, as well as the situation of Latvia in the field of innovation and investment in research and development.

The nature and necessity of change within the organisation. The process of implementing change and its key elements - setting targets, evaluating stakeholders, analysing and overcoming resistance, identifying driving and delaying forces. Characterisation of strategic and tactical changes, their impact on the organisation’s environment and employee behaviour. Stages of the change process, including situational awareness, vision creation, engagement, implementation and reinforcement of results. Effective change management guidelines - communication, support mechanisms, adaptation and motivation of the working environment. Psychological aspects of change, employee reactions, factors in their impact and causes of resistance. The importance of communication of change and THE ADKAR model as a supportive tool in bringing about change.

The concept of marketing and its role in business. Marketing process in the nature of identifying customer needs and creating value. Market and marketing research, demand forecasting and market segmentation. Target market and target purchasers, segmentation variables and their use. Marketing complex (4P) - product, price, location and marketing. The role and history of advertising, the objectives and stages of advertising, the legal framework. Consumer behaviour, needs and decision-making processes. Cross-industry (cross) marketing and its benefits and risks.

Presents the developed business model by briefly and structurally outlining key elements of the business idea: value quote, target customer segments, key resources and partners, communication and delivery channels, and revenue and cost streams. The presentation aims to assess the viability of the idea by providing compelling, data-driven reasoning.

Presents the developed business model by briefly and structurally outlining key elements of the business idea: value quote, target customer segments, key resources and partners, communication and delivery channels, and revenue and cost streams. The presentation aims to assess the viability of the idea by providing compelling, data-driven reasoning.

The nature and objectives of the economy. The role of the economy as a social science and its fundamental issues of needs and scarce resources. Key economic concepts and functions. Socio-economic indicators and their importance. Description of micro, macro, and global processes. The foundations of the circular economy and the shadow economy, the factors affecting it. The role of the economist, the principles of economic thinking and the role of data in decision-making. The topic provides a framework for understanding economic processes in the country and the world.

The nature and importance of demand and supply in the market. The laws on demand and supply, their graphic representation and off-price factors. Types of flexibility and influencing factors. The balance of the market, its formation and changes. Types of competition and characteristics of market structures. Pros, cons and examples in today’s market situations.

Key concepts of the economy and the fundamental problem – the contradiction of unlimited needs and scarce resources. Economic objectives and principles for sustainable development. Production factors and resource utilization opportunities. Characteristics of microeconomics and macroeconomics, their common and different characteristics. Positive and regulatory economic approaches. Economic structure and factors influencing economic decision. The importance of economic policy and macroeconomic objectives that ensure the long-term development of society.

The nature and importance of demand and supply in the market. The laws on demand and supply, their graphic representation and off-price factors. Types of flexibility and influencing factors. The balance of the market, its formation and changes. Types of competition and characteristics of market structures. Pros, cons and examples in today’s market situations.

The concept, nature and objectives of entrepreneurship. Definitions of economic, business and commercial activities and their differences. Status of economic operator and economic operator, concept of enterprise and conditions of registration. Organisational forms of entrepreneurship – self-employed person, individual merchant, partnerships and capital companies, their advantages and disadvantages, levels of liability and basic capital requirements. Social and socially responsible entrepreneurship, their principles and legal framework. Taxes on economic activities, conditions for the application of VAT and basic principles for the liquidation of undertakings. The topic provides an understanding of the choice of business forms, their legal framework and practical application.

The concept, nature and objectives of entrepreneurship. Definitions of economic, business and commercial activities and their differences. Status of economic operator and economic operator, concept of enterprise and conditions of registration. Organisational forms of entrepreneurship – self-employed person, individual merchant, partnerships and capital companies, their advantages and disadvantages, levels of liability and basic capital requirements. Social and socially responsible entrepreneurship, their principles and legal framework. Taxes on economic activities, conditions for the application of VAT and basic principles for the liquidation of undertakings. The topic provides an understanding of the choice of business forms, their legal framework and practical application.

The nature and importance of the business model in business. The role of the business model in creating, delivering and profiting value, its link to the business strategy and business plan. Characteristics of key elements – customer segments, value quote, channels, customer relations, revenue source, resources, activities, partners, and cost structure. Using the “canvas” business model to structure and evaluate a business idea. Conceptual and detailed business models, their application at different stages of the business. The role of the company’s sustainability, social impact and ESG principles in developing the business model.

The concept of employment legal relations and the regulation thereof in accordance with the Labour Law and other laws and regulations. Rights and obligations of the employee and employer, essential components of the employment contract and procedures for entering into. Organization of working time and rest time - night work, overtime work, breaks. Pay rules - types of salary, allowances, minimum wage, deductions and taxation. Social security contributions and State defined benefits - diseases, unemployment UC. Termination of employment legal relationship - grounds of notice of the employee and employer, severance payments and obligations of the employer in the dismissal process. Types of leave and procedures for granting. Differences between the company contract and the employment contract, the importance of the payroll tax book and the tax consequences in the case of illegal employment.

The nature of the accounting, its tasks and its role in providing the company’s financial information. The main objectives, differences and application of financial and management accounting in decision-making. Key accounting principles and the importance of accounting policy. Financial statement items - balance sheet, profit or loss account, and cash flow statement. Their content and use in the evaluation of the company’s activities. Basic methods of analysis of the company’s economic activity, key financial indicators (liquidity, activity, yield, capital structure) and their interpretation. Organisational aspects of accounting - responsibility, document storage, system of accounts and dual entry.

The nature of the accounting, its tasks and its role in providing the company’s financial information. The main objectives, differences and application of financial and management accounting in decision-making. Key accounting principles and the importance of accounting policy. Financial statement items - balance sheet, profit or loss account, and cash flow statement. Their content and use in the evaluation of the company’s activities. Basic methods of analysis of the company’s economic activity, key financial indicators (liquidity, activity, yield, capital structure) and their interpretation. Organisational aspects of accounting - responsibility, document storage, system of accounts and dual entry.

The nature and role of management in achieving the objectives of the organisation. The management process and its main functions - planning, organisation, motivation and control. Driving levels and driver skills, as well as management styles and their suitability in different situations. The decision-making process and the factors affecting it. Types of organisation structures and their pros and cons.

The role of the manager and the role of power in achieving the objectives of the organisation. The nature of power, its manifestations and its main forms of power - the power of formal, reward, coercive, expert and personality. Subordinates’ reactions to power and factors that affect their confidence, submission or resistance. Methods of persuasion and participation in human work, their advantages and limitations. Personality and professional factors influencing the authority of the manager and the authority. The essence of the leader, the essential qualities of the leader and the role in how the team operates. Effective use of impact methods in the organization and common management problems.

Concept and classification of innovation - product, process, marketing and organisational innovation as well as social innovation and their role in solving societal challenges. Innovation as a continuous process of learning, research and commercialization of new ideas. The characteristics of an innovative enterprise, the core components of the innovation system and the role of knowledge transfer in the economy. Impact of innovation on economic growth, productivity and long-term development of enterprises, as well as the situation of Latvia in the field of innovation and investment in research and development.

The nature and necessity of change within the organisation. The process of implementing change and its key elements - setting targets, evaluating stakeholders, analysing and overcoming resistance, identifying driving and delaying forces. Characterisation of strategic and tactical changes, their impact on the organisation’s environment and employee behaviour. Stages of the change process, including situational awareness, vision creation, engagement, implementation and reinforcement of results. Effective change management guidelines - communication, support mechanisms, adaptation and motivation of the working environment. Psychological aspects of change, employee reactions, factors in their impact and causes of resistance. The importance of communication of change and THE ADKAR model as a supportive tool in bringing about change.

Presents the developed business model by briefly and structurally outlining key elements of the business idea: value quote, target customer segments, key resources and partners, communication and delivery channels, and revenue and cost streams. The presentation aims to assess the viability of the idea by providing compelling, data-driven reasoning.