2.1 Professional competence 

Students will be able to legally classify the manifestations of modern Business Studies in the area of the use of IT solutions and relate them to the conventional instruments of corporate law 

2.1.1 Knowledge

• Students are already familiar with the basics of corporate law cases and their areas of application from their Bachelor's degree course. Building on this, students will be able to use specific cases to recognize the differences to conventional practical examples when IT applications are used.

• Students will be able to use the practical examples presented to apply their knowledge of civil law and, in particular, company law in order to develop viable legal solutions. To this end, students will learn the terminology in the areas of data protection law, intellectual property protection and the specific exceptions in the TMG and TKG.

2.1.2 Skills

• The students can recognize in practice in which IT-related situations certain problems arise that cannot be solved with the conventional instruments of civil law, especially corporate law.

• The students will be able to apply the case constellations they have learned to new phenomena in the field of IT use in practice and arrive at viable legal solutions.

• The students can use the technical problems in a practice-relevant case to recognize the areas for which the law does not yet provide solutions and which approaches can be represented here. 

2.2 Personal skills

2.2.1 Social skills

• Students develop their skills in developing case solutions through teamwork in order to develop different approaches to solutions by working on cases together. For technical issues, students learn where to get what kind of support and what cooperation between different disciplines looks like.

• Students are able to present solutions that have been created through teamwork in a results-oriented manner and present the results in such a way that even non-experts can implement them.

2.2.2 Independence

• Students can also deal with complex legal issues independently and solve them convincingly

  .

• Students can recognize how IT problems have an impact in practice and how to deal with them legally.

• Students will be able to independently identify which developments could potentially lead to new legal issues in the future.

The course focuses on the problem areas that are generally regarded as the most important issues in the use of IT in business practice. For this purpose, current cases are used and future developments are taken into account.

• Basic concepts of IT law such as license rights, data protection law, copyright protection, ancillary copyrights, typical contractual services in software development, protection of machine data and database protection

• Selected use cases and typical legal issues

Application cases in the use of IT:

• Legal assessment of software transfer agreements

• Copyright issues in software contracts and "big data"

• Data protection issues under the GDPR and the BDSG 

• Protection of "machine data" and trade secrets

• Legal problems with the use of artificial intelligence (AI)

Seminar-style event with practical case exercises 

Formal: none

Content: none

Exam (100 %) (90 minutes)

Passed exam

M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization, M.A. Business Management

• Aktuelle Textausgaben des BGB, UrhG, MarkenG, TMG, DSGVO, BDSG

• Wandtke (Hrsg.), Medienrecht, Band 5: IT-Recht, 3. Aufl. 2014

• Redeker, IT-Recht, 6. Aufl. 2016

• Becker, Rechtliche Grundlagen und IT-Recht, 1. Aufl. 2018

• Hoeren, Skript Internetrecht, abrufbar unter:https://www.itm.nrw/wp-content/uploads/Skript-IT-Recht-Stand-Oktober-2019.pdf - ständig aktualisiert 

• Students develop teamwork skills, which are supported by homework including presentation tasks
.
• Students are able to coordinate and work on tasks in a goal-oriented manner.
They deepen their knowledge of a current topic in cost management by applying common methods of scientific work and acquire sound specialist knowledge of the content.You will be able to present team results in a complex and demanding environment, defend your own points of view and argue from different stakeholder perspectives. You communicate in a technically sound and convincing manner to the target group and are empathetic at the same time. 2.2.2 Independence
• Students can develop a topic independently according to their personal abilities and structure it into practicable work tasks. By adopting an independent approach, they form conscious focal points that correspond to their inclinations, for which they are motivated and adopt an attitude.
They have the ability to understand Business Studies of various specialist functions in connection with cost management and controlling tasks in a decentralized and centralized manner.
• They are able to derive their own viewpoints and attitudes towards existing theories, models and experiences and defend them in critical discussions.

• Basic statements on cost management
• Overhead and fixed cost management
• Process cost management
• Process cost management
• Project cost management
• Product cost management

• Exam at the end of the semester 90 minutes

Coenenberg, A.G.; Fischer, T. M.; Günther, T.: Kostenrechnung und Kostenanalyse, aktuelle Auflage, Stuttgart

Fischer, T.; Möller, K.; Schutze, W.: Controlling - Grundlagen, Instrumente und Entwicklungsperspektiven, aktuelle Auflage, Stuttgart

Franz, K.-P.; Kajüter, P. (Hrsg.): Kostenmanagement. Wertsteigerung durch systematische Kostensteuerung, aktuelle Auflage, Stuttgart

Friedl, B.: Kostenmanagement, aktuelle Auflage, Stuttgart

Haberstock, L.: Kostenrechnung II. (Grenz-)Plankostenrechnung mit Fragen, Aufgaben und Lösungen. Bearbeitet von Volker Breithecker, aktuelle Auflage, Berlin

Hölzlwimmer, A.; Hahn, A.: Produktkosten-Controlling mit SAP, aktuelle Auflage, Bonn

Kajüter, P.: Proaktives Kostenmanagement. Konzeption und Realprofile, Wiesbaden

Weber, Jürgen; Schäfer, Utz: Einführung in das Controlling, aktuelle Auflage, Stuttgart

• describe and evaluate international environments faced by investors,
• apply the latest state of knowledge regarding the application of practical empirical models for asset allocation,
• interpret qualitative and quantitative data and present appropriate and coherent recommendations based on this.

• detect and identify risk on international markets based on macroeconomic analysis
• use data techniques to analyze market risks and outlooks
• apply sophisticated quantitative tools for data analysis in different economic settings

• lead and coordinate teams in a results-oriented fashion,
• present and prudently defend team results in a complex and demanding environment,
• improve cooperation among human resource in projects and organizations based upon appropriate policies and strategies

• work out independent projects and ideas and can do what is necessary to carry out a sustainable management initiative.

• Macroeconomic environment of capital markets
• International linkages between markets and economies
• Bond markets
• Stock markets
• International currency markets
• Diversification/International portfolio selection
• Projection of asset returns
• Practical models for asset allocation
• Examples of statistical models applied in asset allocation
• Examples of current comments and analysis of capital markets

• written exam (50%)
• presentation based on article (50%)

Mishkin, Frederic: „Economics of Money, Banking, and Financial Markets“

Krugman/Obstfeld/Melitz, „International Economics“

Cuthbertson, Nitzsche: „Quantitative Financial Economics“

Literature and papers cited in the lecture

• Semester-accompanying partial performance 
• Exam 
• Presentation
• Combination of the listed forms of examination

• have in-depth knowledge of national and international VAT law
• know and understand the basic taxation of corporations and their shareholders across all tax types
• have in-depth knowledge of the impact of taxes on business decisions

• show the system of value added tax and direct taxes for corporations
• solve specific tax problems in connection with value added tax and corporation tax
• assess tax-relevant issues and structure them in a tax-optimized manner from a business perspective

• develop team skills that are supported by partner and group work during the lecture
• are able to prudently present and defend their team results in a complex and challenging environment
• practice the acquisition of a fact-based discussion culture

• deal independently with legal texts, administrative instructions, case law and specialist literature
• apply acquired concepts to new problems and solve them independently

• Company status
• Taxable item for domestic supplies: taxable turnover
• Taxation of cross-border supplies of goods and services
• Tax exemptions
• Sale of the business as a whole
• VAT within the group and holding companies
• Pre-tax deduction and input tax entitlement
• VAT compliance

• Taxation of company and shareholder
• External shareholder financing
• Treatment of losses of the corporation (in particular in the event of a change of shareholder)
• Corporate income tax and trade tax group

Jeweils aktuellste Auflage:

Englisch in Tipke/Lang, Steuerrecht, § 17

Meissner/Neeser: Umsatzsteuer 

Niehus/Wilke: Die Besteuerung der Kapitalgesellschaft

Alber/Sell: Körperschaftsteuer

• Principles and target systems of value-oriented corporate management
• Share and stakeholder value as reference values
• System of value-enhancing strategies for the company (including differentiation according to reference levels)
• Value drivers and value driver models
• Balanced scorecard as a comprehensive analysis and design concept
• Control and management variables of value-oriented corporate management (e.g. economic value added, operating profit, discounted cash flow): Concept, operationalization, meaningfulness and information requirements
• Consequences for the company's functional areas and fields of action (operational implementation of value-based management)
Role of corporate controlling as a management system
• Value-based incentive design in the company
• Process-related and structural perspectives of value-oriented corporate management
.

Seminar-style teaching with project work and case studies

• Semester-accompanying partial performance (50%)
• Exam (50%) (60 minutes)

Passed module exam and examination during the semester

M.A. Business Management, M.Sc. FACT, M.Sc. FACT - Controlling & Digitalization

Büchler, J. P. (2014): Strategie entwickeln, umsetzen und optimieren. München/Hallbergmoos, 2014

Coenenberg, A. G./Salfeld, R./Schultze, W. (2015): Wertorientierte Unternehmensführung, 3. Aufl., Stuttgart 2015.

Copeland, T./Koller, T./Murrin, J. (1998): Unternehmenswert. Methoden und Strategien für eine wertorientierte Unternehmensführung, 3. Auflage, Frankfurt/ Main 2002

Faix, A. (2019): Auswahl von Verfahren zur Wertbestimmung. Beitrag zur Umsetzung einer Wertorientierten Unternehmensführung, Arbeitspapier, Dortmund 2019 DOI: (10.13140/RG.2.2.34666.77764).

Firk, S./Wolff, M. (2018): Wertorientierung kann sich lohnen, in: Controlling & Management Review, Heft 2, 2018, S. 52 – 56.

Hahn D./Taylor, B. (2006): Strategische Unternehmungsplanung – Strategische Unternehmungsführung, 9. Aufl., Heidelberg, 2006

Herter, R. N. (1994): Unternehmenswertorientiertes Management, München 1994

Rappaport, A. (2006): Ten Ways to Create Shareholder Value, Harvard Business Review, Sept. 2006.

Stern, J. M./Shiely, J. S./Ross, I. (2001): The EVA Challenge, New York u.a. 2001

Stewart, G. B. (1999): The Quest for Value, 2. Aufl., New York, 1999

• (LO1) explain the concept of auditing and its necessity
.
• (EU2) describe the access to the auditing profession, the tasks and duties as well as the business model
• (EU3) explain the principles and process of an annual audit.
(EU4) explain the basics of process mining and classify its relevance for auditing.(EU5) describe current developments in sustainability reporting and auditing. Use, application and generation of knowledge
• (EU6) Select and perform appropriate and sufficient procedures for selected parts of the assurance process based on a risk-based approach and assess when conclusions can be drawn from the results and findings obtained and in which cases matters should be referred for clarification or decision by the assurance team.
(EU7) navigate existing process mining analyses using Celonis software, identify actual processes, compare them with expectations and evaluate and document findings.
Communication and cooperation
• (LO8) document and communicate work results individually and collectively in a manner appropriate to the target group
.
Scientific self-image / professionalism
• (LO9) reflect on the significance of the professional behavioral requirements "critical attitude" and "dutiful discretion" and justifiably classify professional ethical issues in connection with integrity, objectivity, professional competence and due care, confidentiality and professional conduct
.
b. Corporate law
Professional competence
Knowledge
• The students know the legal foundations of individual company forms, in particular the rules of shareholder liability, the provision and maintenance of capital, representation and management in a company as well as the basics of corporate actions
Skills
• The students are able to make a well-founded decision on the choice of legal form and evaluate the facts accordingly
.
• They can use the case methodology they have learned to structure corporate law problems in the company and develop proposed solutions.
You will recognize which regulations will be required in a partnership agreement and can participate in the creation of the regulation. Personal skills
Social competence
• Students develop team skills that are supported by working on cases together
.
• Students can lead and coordinate teams in a results-oriented manner.
They can present team results in a complex and challenging environment and propose legally relevant solutions. Independence
• Students can deal with complex legal cases independently and solve them convincingly
.
• They have the ability to understand the interplay between Business Studies and commercial law and to form their own point of view.
You will be able to systematically analyze legal issues independently and develop a practical business solution for them.

• Introduction to auditing
• Profession of the auditor
• Auditing external financial reporting
• Risk-oriented audit approach
• Professional conduct requirements and ethical issues
• Process mining 
• Sustainability reporting and auditing

• Partnerships (concept, formation, internal and external relations, liability of partners)
• Corporations (including basic principles, formation, executive bodies, internal and external relations, raising capital, internal and external liability)
• Choice of legal form
• Basics of mergers & acquisitions (including share deals and asset deals; structuring the business relationship against the background of a possible corporate transaction)

• Exam (100 %, of which 50 % are auditing I and 50 % corporate law), 90 min. duration

• Exam (90%, of which 40% is auditing I and 50% is corporate law), 90 minutes
• Semester-long, English-language e-learning "Process Mining for Audit Professionals" with final ILIAS test (5%, for LE4 and LE7 of Wirtschaftsprüfung I), up to 7 hours in duration (average duration from participant feedback 7.5 hours)
• Semester-accompanying reflection as an ILIAS survey (5%, for Wirtschaftsprüfung I), up to 2x 15 minutes

a. Wirtschaftsprüfung

Graumann, M. (2023). Wirtschaftliches Prüfungswesen (7. Aufl.). NWB Verlag.

Maksymov, E. (2022). The craft of auditing for accounting undergraduates: The stuff you actually need to learn before graduating (1. Aufl.). Cognella.

Marten, K.-U., Quick, R., & Ruhnke, K. (2020). Wirtschaftsprüfung (6. Aufl.). Schäffer-Poeschel. 

b. Gesellschaftsrecht

Bitter/Heim, Gesellschaftsrecht, aktuelle Auflage

Führich, Wirtschaftsprivatrecht, Bürgerliches Recht, Handelsrecht, Gesellschaftsrecht, aktuelle Auflage

Meyer, Wirtschaftsrecht: Handels- und Gesellschaftsrecht, aktuelle Auflage 

Wackerbarth/Eisenhardt, Gesellschaftsrecht I und II, aktuelle Auflage

• Understand, calibrate, and estimate alternative statistical models of equity risk, exchange rate risk, interest rate risk, commodity price risk, and operational risk;
• Extend the models to evaluate the risk of derivative securities;
• Critique and recognize the strengths and weaknesses of various risk measures, such as value at risk and expected shortfall, and be able to recommend the appropriate uses of each;
• Provide a detailed description of the meaning and interpretation of the output from these models using the terminology and concepts of mathematical risk management;
• Be able to make and evaluate recommendations related to a firm's interest rate, equity and credit risk management programs;
• Sincerely and consistently values and demonstrates respect for the opinions of others, even when one is not in agreement with those opinions, and
• Develop a capacity for critical thinking, and participate in the methods of discovery and problem-solving.

• the specialized problem-solving skills required in research in order to develop new knowledge and procedures and to integrate knowledge from different fields,
• detect and identify risk by applying creativity techniques,
• use techniques to analyze compound risks (e.g. Monte Carlo simulation) and
• apply sophisticated quantitative tools for data analysis in different economic settings

• lead and coordinate teams in a results-oriented fashion,
• present and prudently defend team results in a complex and demanding environment, and
• handle complexities while working in international teams.

• manage and transform work or study contexts that are complex, unpredictable and require new strategic approaches,
• reflect operational challenges of a company in the background of social values,
• the interplay between economic regulation and institutional framework and the strategic outline of a company and is able to derive an own mind on it,
• work out independent projects and ideas and can do what is necessary to carry out a sustainable management initiative.

• Applying time value of money concepts in Excel to solve more complex present value problems by means of spread sheet functions.
• Fixed income analytics to implement basic bond yield calculations in Excel.
• Interpretation of selected advanced concepts in term structure of interest modeling.
• Models in portfolio theory and statistics.
• Spread sheet structuring and handling to apply Excel/VBA based methods to prepare raw data for further analysis.
• Basic VBA Programing concepts for interactive models in finance and insurance.

This course is very challenging, both conceptually and technically. You should expect to spend a good deal of time mastering the material.

Literatur:

Benninga, S., Financial Modeling, Cambridge (MIT Press).

Aichinger, M.; Binder, A., A Workout in Computational Finance (with Mathematica), Wiley Finance.

Stojanovic, S., Computational Financial Mathematics using Mathematica, Optimal Trading in Stocks and Options, Birkhäuser.

Wilmott, P., Paul Wilmott on Quantitative Finance, John Wiley & Sons.

• the sectoral regulatory approach of the European financial services industry
• the specific regulation of Packaged Retail Investment and Insurance-based Products (PRIIPs)
• the structure of German financial services distribution, in particular the legal requirements and economic significance
• the transposition of the Insurance Mediation Directive (IDD) and the Market in Financial Instruments Directive (MiFID) into German law
• The economic consequences of implementation for financial service providers, financial service customers, financial service intermediaries and supervisory authorities
• Requirements and challenges of risk management in financial services sales
.

• classify forms of financial services companies and name legal requirements for market entry and market behavior
• explain the development, counseling and distribution of financial services on the basis of economic theories
• explain consumer protection interests in the development, counseling and distribution of financial services
• explain the need to adapt the financial services market to regulatory requirements on the basis of economic theories and empirical findings and describe the consequences for financial service providers, financial service customers, financial service intermediaries and supervisory authorities
.

• The students learn
• to develop application references for the theoretical learning material in teams using exercises
• to give presentations to the group
• to critically discuss current media texts relating to the topic of financial market regulation in an appreciative manner and to tolerate differing opinions
.

• read legal texts and understand their significance for financial service providers, financial service clients, financial service intermediaries and supervisory authorities
• independently derive approaches from economic theories to derive economic consequences of regulation for the players
• identify, analyze and describe empirical findings using statistical methods
.

• Structure of European regulation of the financial services market
• In-depth application example: The regulation of insurance distribution
• Implementation of the IDD and MiFID directives into German law
• Economic consequences for financial service providers, financial service customers, financial service intermediaries and supervisory authorities based on economic theories and empirical findings
• Outlook for further regulatory steps
• International comparison with the implementation of and experiences with financial market regulation in country markets such as the United Kingdom
.

• Exam (30 minutes) (30%) 
• as well as a term paper (max. 10 pages) and a presentation (max. 15 minutes) as part of the semester examination (70%)

• Exam (90 minutes) (100%)

Akerlof, George: The market of „Lemons“: Quality Uncertainty and the Market Mechanism, in: The Quarterly Journal of Economics, Nr. 3 1970, S. 488-500

Beck, Hanno: Behavioral Economics, Wiesbaden 2014

Beckmann/Matusche-Beckmann: Versicherungsrechts-Handbuch, 3. Aufl. München 2015

Beenken, Matthias: Versicherungsvertrieb, Absatz von Versicherungen durch Versicherer und Vermittler in Theorie und Praxis, Karlsruhe 2017

Beenken, Matthias; Kruse, Markus; Löffler, Juliane; Sütterle, Hannah; Wende, Sabine: Einfluss der Vermittlerregulierung auf die private Altersvorsorge der deutschen Bevölkerung, Studie, hrsg. von Assekurata Solutions, Köln 2016

Beenken, Matthias; Radtke, Michael: Betriebswirtschaftliche Konsequenzen eines Systemwechsels in der Vergütung von Versicherungsvermittlern, Bonn/Dortmund 2013

Beenken, Matthias; Radtke, Michael: Provisionen und Courtagen – was die Versicherer ihren Vermittlern zahlen, Ahrensburg 2015 (2017 in Vorbereitung)

Beenken, Matthias, Sandkühler, Hans-Ludger: Das neue Versicherungsvermittlergesetz, Planegg/München 2007

Beenken, Matthias, Sandkühler, Hans-Ludger: Die neue Versicherungsvertriebsrichtlinie, München 2017 (in Vorbereitung)

Cummins, J, David, Doherty, Neil A.: The Economics of Insurance Intermediaries, Working Paper, 2008

Freiling, Jörg, Reckenfelderbäumer, Martin: Markt und Unternehmung, 3. Aufl., Wiesbaden 2010

Höckmayr, Gergana: Wandel der Beratungsqualität auf dem Versicherungsvermittlungsmarkt: Eine ökonomische Analyse der Veränderungen aufgrund der Anforderungen der EU-Vermittlerrichtlinie, Karlsruhe 2012

Kahnemann, Daniel, Tversky, Amos: Choices, Values and Frames, 10. Aufl., New York 2009

Karau, Torsten: Qualitätsmessung in der Versicherungsvermittlung: Eine empirische Untersuchung der Unterschiede zwischen Provisions- und Honorarvergütung in der Altersvorsorge, Lohmar/Köln 2015

Langheid/Rixecker: VVG, 5. Aufl., München 2016

Sonnenberg, Marcus: Vertriebskostentransparenz bei Versicherungsprodukten, Karlsruhe 2013

Temporale, Ralf: Europäische Finanzmarktregulierung: Handbuch zu EMIR, MiFID II / MiFIR, PRIIPs, MAD / MAR, OTC-Derivaten und Hochfrequenzhandel, Stuttgart 2015

• will be able to confidently apply the instruments of corporate risk management and place them in the overall context of the company
are able to work on selected problems methodically and correctly using subject-specific procedures and find a well-founded solution,can interpret mathematical results and analyze their significance,can relate individual techniques to a professional environment.

• develop, communicate and create a problem solution for operational risk management
• develop a feeling for the different actors involved in risk management
• learn to critically reflect on decisions

• perceive the appropriate quantitative networking of risk management with systems of performance measurement and evaluation commonly used in the company
.
• review the relevance of changes in risk management without the support of third parties and classify problems in practice
• discuss the basic principles and various methods with a degree of complexity appropriate to the respective discussion situation
.

• Definition, determinants and forms of risk
• Instruments for quantifying and measuring risks
• Fundamentals, methods and instruments of risk management 
• Risk transfer by an insurance company
• Methods and procedures for assessing and pricing insurance risks
• Collective balancing/portfolio management
• Economic capital and risk capital

Farny, Dieter: Versicherungsbetriebslehre, Karlsruhe 2011

Heilmann,W-R;Schröter,K.J.: Grundbegriffe der Risikotheorie, Karlsruhe 2014

Klugman,S., Panjer,H., Willmot,G.: Loss Models, From Data to Decicions, New Jersey, 2004

McNeil,A.,Frey,R.,Embrechts,P.: Quantitative Risk Management, Princeton 2005

Nguyen, Tristan: Handbuch der wert- und risikoorientierten Steuerung von Versicherungsunternehmen, Karlsruhe, 2008

Radtke, Michael: Grundlagen der Kalkulation von Versicherungsprodukten in der Schaden-und Unfallversicherung, Karlsruhe, 2008

Romeike, F., Müller-Reichert, M.: Risikomanagement im Versicherungsunternehmen, Winheim, 2005

Schradin, Heinrich, R.: Erfolgsorientiertes Versicherungsmanagement, Karlsruhe, 1994

Schmidt. Klaus D: Versicherungsmathematik, Berlin 2009

Wagner, Fred: Risk Management im Erstversicherungsunternehmen, Karlsruhe 2000

-

2.1 Professional Competencies

2.1.1 Knowledge 

The students know and understand

• the core aspects, concepts, methods and principles of the technologies digital twin and artificial intelligence, 

• the areas of application of the methods of machine learning and simulation for companies, 

• process models in digitization projects and simulation projects

2.1.2 Skills 

The students can

• explain the basics of digital twins and artificial intelligence

• name and classify their methods

• assess suitability and maturity for business use cases

• assess the relevance, opportunities, risks and limitations of use in for business use cases 

• solve smaller, application-related problems with selected technologies

• identify required skills and competences in the company upon introduction

2.2 Personal Competencies

The students

• develop an attitude towards the technologies of digital twins and artificial intelligence and their methods

• can deal with complexities when working in groups

• are able to present and defend team results in a complex and demanding environment

The students can

• cope with complex tasks

• work on case studies independently and in groups in a targeted manner

Digitization, the Internet of Things and Industry 4.0 will significantly change companies and supply networks. The basis for a sustainable competitiveness are smart products, innovative services and new business models based on digital technologies. 

Two core concepts of digitalization are Digital Twins and Artificial Intelligence. The digital twin promises to offer a real-time, always up-to-date, digital model of physical resources (machines, employees) and processes. It allows to determine relevant KPI and to forecast developments, e.g. by use of simulation techniques.

Artificial intelligence is not only found in technologies such as autonomous vehicles, smart production machines and speech recognition, but also in sales forecasting, supply chain risk management, quality control, marketing and many other business tasks.

Consequently, both concepts hold many opportunities, but in order to apply these in a targeted manner and to derive recommendations for the necessary skills and abilities of the employees, it is necessary to gain an insight into the underlying technologies and to identify the success factors as well as risks and limitations.

This course offers a case study-based, application-centered introduction to both technologies for students with a business background. 

After an introduction to the concepts of digital twins and artificial intelligence, possible applications in the business environment are discussed. Following, the basics of simulation are imparted. The students work on case studies using the popular simulation software Anylogic. 

In the artificial Intelligence part, a technical overview of the common methods of artificial intelligence is given and small, basic case studies on selected methods are worked on in groups using a Python environment. In contrast to other, more statistically or technical oriented modules, the focus in this module lies on machine learning, i.e. cluster and classification methods, such as those used in supply chain management for supplier or customer classification, in quality management for error detection or in risk management for bottleneck forecasting.

Lecture Structure

• Digital twin and artificial intelligence 

  • Basic concepts, principles, and methods

  • Areas of application of the methods of machine learning and simulation within companies

• Digital twin and simulation 

  • Introduction, digitization projects and simulation projects 

  • Basics of simulation with Anylogic

  • Case studies 

• Artificial intelligence

  • Introduction to AI and machine learning

  • Basics of programming in Python

  • Supervised learning: principles, applications and case studies 
     (Nearest Neighbor, Decision Trees, Neural Nets)

  • Unsupervised learning: principles, applications and case studies
     (k-Means, hierarchical clustering) 

• Summary

  • Suitability and maturity of concepts and methods

  • Relevance, opportunities, risks and limitations in applications

  • Required skills and competencies

Note: 

• This course includes an introduction to the simulation software Anylogic. The software will also be applied for a case study in Module 9_10 Supply Chain Process Improvements (Code Number 984012). 

• This course includes an introduction to programming in Python. Python will also be applied for a case study in Module 7 SCM Applications (Module Number 98251).

• Lectures introducing concepts, methods and tools

• Online courses introducing programming concepts

• Group work to practice methods and to work on case studies 

• Guest lectures

Formal: none

Knowledge and competencies: none 

• 50% contributions within the course (homework, group work, presentations, case studies)

• 50% written or oral examination at the end of the course

In total a required minimum level has to be achieved in all above named parts of the assessment (typically 50%).

M.Sc. Digital Transformation

Ertel, W. (2021): Grundkurs Künstliche Intelligenz - Eine praxisorientierte Einführung, Springer Fachmedien Wiesbaden GmbH

Freitag, Kotzab, Megow: Dynamics in Logistics, Springer 2021

Frochte: Maschinelles Lernen: Grundlagen und Algorithmen in Python, Hanser, 2021

Göpfert: Logistik der Zukunft, 8. Auflage, Springer Gabler, 2019

Gutenschwage, Rabe, Spiekermann, Wenzel: Simulation in Produktion und Logistik, Springer, 2017

Kubat: An Introduction to Machine Learning, Springer 2021

McKinney, W. (2012). Python for data analysis: Data wrangling with Pandas, NumPy, and IPython. O'Reilly Media. 

Müller: Introduction to machine learning with Python. O'Reilly Media, 2016

Norvig, P., Russel, S. (2021): Artificial Intelligence, Harlow Pearson Educations

Wagner: Industrie 4.0 für die Praxis, Springer Gabler, 2018

Winkelhake, U.: The Digital Transformation of the Automotive Industry, Springer International Publishing, 2018

• Semester-accompanying partial performance (50 %)
• Exam (50 %) (60 minutes)

Coenenberg, Adolf G. / Haller, Axel / Schultze, Wolfgang: Jahresabschluss und Jahresabschlussanalyse, Schäffer-Poeschel Verlag 

Pellens, Bernhard / Fülbier, Rolf Uwe / Gassen, Joachim: Internationale Rechnungslegung, Schäffer-Poeschel Verlag

Heuser, Paul J. / Theile, Carsten: IFRS-Handbuch, Verlag Dr. Otto Schmidt KG

HGB-Kommentare

IFRS-Kommentare

Fachzeitschriftenbeiträge

• expand their knowledge in the field of controlling to include special components of IT support with business intelligence
deepen their knowledge in special areas of cost and performance controlling in the project, banking and insurance business
• deepen their knowledge in specific areas of risk and BSC controlling.
work together with the lecturer to gradually develop essential extended knowledge bases and decision-making fields based on the latest information technology and the specialist area of controlling and its module characteristics.

• get to know and apply tried and tested concepts, systems and instruments of BI-supported controlling with regard to decision support for company managers
• learn how to use modern IT solutions (e.g. data warehouse) in case studies, which are particularly in demand for use in today's professional field
.
• are able to apply sophisticated reporting and planning tools for data analysis and forecasting in different business environments and are able to adapt them to new practical conditions
• Master methods and instruments of cost and performance controlling in the project, banking and insurance business and are able to classify them critically.
Can implement and apply methods and instruments of risk and BSC controlling in an organization. 2.2 Personal competencies
2.2.1 Social competence
The students
• solve controlling-oriented problems alone and in a team. They contribute their own ideas and arguments to the group
.
• develop technical papers independently, which are discussed in the team
• present and defend your team results prudently in a complex and demanding environment
• learn about potential for improvement in cooperation between people in projects and organizations, especially between IT and specialist functions.
improve their HR skills, which are required in a BI project. 2.2.2 Independence
• The students
• learn to independently manage and transform complex work or study contexts and can implement these in a new IT environment
.
• reflect on the operational challenges of a company in relation to IT and specialist functions as well as the social values affected by these
• can independently develop independent projects and ideas and support them with business intelligence
.

• Business Intelligence and Business Performance Management 
• Data Warehouse 
• Development of reporting structures and content 
• Development of planning systems 
• Big data 
• Key figure systems
• Cost and performance controlling in different industries 
• Early warning and management information systems 
• Balanced scorecard 
• Risk controlling

• Semester-accompanying partial performance: Group homework. (50%)
• Exam (50%) (60 minutes)

Chamoni, P., und P. Gluchowski. Business analytics – state of the art. Zeitschrift für Controlling, Management Review 61(4):8–17, 2017.

Diederichs, M.: Risikomanagement und Risikocontrolling, 4. Aufl., München 2018.

Engels, C.: Basiswissen business intelligence, 2. Aufl. Dortmund: W3I. 2015

Gluchowski, P.; Chamoni, P.: Analytische Informationssysteme: Business-Intelligence-Technologien und –Anwendungen, 5. Aufl., Wiesbaden: Springer 2016.

Horváth, P.; Gleich, Ronald; Seiter, Mischa.: Controlling, 13. Aufl., München 2015.

Kemper, H.-G.; Mehanna, W.; Unger, C.: Business Intelligence Grundlagen und Prakti-sche Anwendungen, 3. Aufl., Wiesbaden 2010.

Reichmann, Thomas; Kißler, Martin Baumöl, Ulrike.: Controlling mit Kennzahlen, 9. Aufl., München 2017.

Schön, Dietmar: Planung und Reporting im BI-gestützten Controlling: Grundlagen, Business Intelligence, Mobile BI, Big-Data-Analytics und KI, 4. Aufl., Wiesbaden 2022.

Schön, Dietmar: Planung und Reporting im BI-gestützten Controlling: Grundlagen, Business Intelligence, Mobile BI, Big-Data-Analytics und KI, 5. Aufl., Wiesbaden 2025.

Weber, Jürgen; Schäffer, Utz: Einführung in das Controlling, 15. Aufl., Stuttgart 2016

Wiesehahn, A; Kißler, M. (Hrsg.): Erfolgreiches Controlling - Theorie, Praxis und Perspektiven, München, Vahlen, 2018

2.1 Professional competence
They are familiar with the German corporate constitution in terms of the business management framework and its economic implications. On this basis, students can classify and analyze complex entrepreneurial decisions with regard to the motives of those involved. They develop an understanding of the various factors influencing a decision and are able to assess these both from the perspective of the company and from the perspective of those directly affected. They are familiar with and can assess the influence of social developments on the legal framework of the corporate constitution in a first step as well as the action-relevant effects at company level.

They are familiar with the task, competence and responsibility of the bodies of a corporation (in particular a stock corporation) and the resulting scope for action for the actors. On this basis, students can also assess complex decision-making situations and describe their consequences. They can independently evaluate the options for action associated with entrepreneurial decisions with regard to legal, business and ethical criteria and develop different options for action on this basis.

2.1.1 Knowledge
Students understand the Anglo-Saxon concept of corporate governance with regard to the requirements it places on companies. They know the history of the associated discussion about "good" corporate management and monitoring and can derive the implications of the shareholder value approach and the stakeholder value approach.


They are familiar with basic economic approaches to explaining corporate governance, such as the principal-agent theory. They are familiar with the legal foundations of corporate governance in Germany. They will be able to differentiate between the German corporate constitution and its specifics in the international environment. They are familiar with the dual system of management board and supervisory board and the resulting special fields of action. Students will be able to interpret the respective interests of the actors involved in a contextualized manner and assess their significance for corporate policy and strategy, also using case studies.

They are aware of the specific information requirements of the supervisory board based on its monitoring mandate. They will be able to differentiate between the importance of internal and external accounting in satisfying its information requirements and identify the requirements for the functional areas of a company. The importance of the validity of information is understood and the requirements for the design in practice can be determined.

Students understand the lines of development of corporate governance and can classify current legislative projects in terms of their practical relevance. On the basis of current socio-political discussions, they can explain the implications for corporate governance and formulate proposals for their consideration within the framework of the corporate constitution.

2.1.2 Skills
Students are able to identify business management requirements on the basis of comprehensive legal principles. They can describe the intention of changes in the law and assess the implications for practice. They are able to transfer economic concepts (of the new institutional economics) to business management problems and assess the advantages and disadvantages of such an approach.

Students develop an understanding of the motivation of individuals as decision-makers in an organization and can draw conclusions for strategic and operational decisions. Already known business management concepts can be subjected to a differentiated assessment with regard to legal requirements, as a result of which, on the one hand, action requirements and, on the other hand, potential legal consequences for the acting actors can be derived. The current socio-political discussions within the field of corporate governance can be critically monitored and assessed with regard to their direction of development, so that requirements can be derived for the material information level of decision-makers in the entrepreneurial context.

2.2 Personal competencies
2.2.1 Social competence
Students develop a feel for the different motivations of the actors involved. They learn to critically reflect on their own understanding of the role of the company - and thus of the people acting in it - and to classify it in the context of corporate governance. In this respect, students also recognize the importance of (their own) social action and have the opportunity to reflect on their own behavior. They discuss their ideas regarding the responsibility of decision-makers and are able to assess the personal and social consequences of actions, both in relation to legal consequences and beyond.

2.2.2 Self-employment
Students will be able to independently analyze the economic effects of legal changes in the area of corporate constitution. They can examine the relevance of changes in the legal situation without the support of third parties and classify problems in practice on the basis of the legal situation. They are familiar with the independent use of various sources for a differentiated assessment of the implications for practice.