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Introduction to Business Economics and Budgeting

Planning and organizing resources

Business economics is concerned with the use of company resources necessary for it to function. It is important to use the company’s resources as efficiently as possible to satisfy customer needs. A budget is a plan of action for the future that is expressed in financial terms.

This course gives you, who work with production, a broad introduction to the subject business budgeting. The course explains and discusses the connection between economy and logistics and the basic terminology used in daily work situations to satisfy customers.

Objectives: The objective of this education is for you to understand and be able to use business economics and budgeting to control the efficient use of company resources.

Participants: This course is for you, who need a basic introduction to the subject economic control and budgeting. You work with these issues as a salesman, purchaser, logistics manager or engineer, production planner or technician or with quality and construction.

Qualifications: No previous knowledge is required, but it is preferable if you have some work experience.

Training Method: Introduction to Business Economics and Budgeting is a Premium course and is studied over the internet via our e-learning platform Instant education. Read more about the training method E-learning - Premium courses.

Course Length: Approximately 10 hours active study time, depending on previous knowledge. Each student has access to the course for 6 months.

Price: 261 Euro / student
290 USD / student

Prices excluding VAT.
For large-scale education projects request quotation.

Online price:

246 EURO / student
273 USD / student

Prices excluding VAT.

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Course contents:

Part 1

What is a Company?

A company can be regarded as a chain of suppliers and customers, both internal and external.

How are Companies Formed?

There are different reasons for starting a company. For example, a specific concept or demand for a certain product may arise. The short-term goal is to achieve satisfactory profitability.

What is Business Economics

Business economics is a term used to describe and explain the production, distribution and consumption of goods and services.

The Company’s Stakeholders

A company’s stakeholders are the players, individuals, groups and organizations that have a stake in a company.

Meeting the Customer’s Needs

To a large extent, running a business involves organizing resources and expertise in order to meet the customers’ needs.

The Processing Chain

The flow from raw material to end product often takes place in a long processing chain.

What is Logistics?

Logistics can be defined as the science of efficient flows.

Supply Service

Supply service is a comprehensive concept that pertains to a company’s performance in relation to customers.

Reasons for Keeping Inventory

The primary reason for keeping inventory is related to delivery time. A finished product is always easier to sell.

Part 2

Basic Financial Concepts

In order to understand how a company’s resources can be used in the best possible manner, we must learn how to use a number of financial concepts.

Results and Profitability

How to measure profitability.

Use of Capital

The amount of capital needed by a company may vary, as does the manner in which the capital is used.

Financial Analysis

Introductory description of the methodology for performing a financial analysis.

Financial Control

How to achieve organized control over the company’s decision-making and actions.


The budget as a plan of action for the future expressed in financial terms.

Budgeting Phases

Description of the work behind a budget.

Drawing up Budgets

Description of the budget design using master budgets and sectional budgets.

Budget Review

How to check the actual outcome compared to the budget.

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