1. DEVELOPMENT OF BASE COMPETENCIES IN VALUATION IN “TRANSILVANIA” UNIVERSITY OF BRASOV SILVIA SUMEDREA Ph.D., associate professor “Transilvania” University of Brasov Romania silvia.sumedrea@unitbv.ro

2. Scope To present and discuss the base competencies students in economic studies in “Transilvania” University of Brasov should acquire for a future career in valuation. 2Silvia Sumedrea - ERES 2008

3. Research methodology Group competencies according with ARACIS recommendations (general, specific and affective competencies) and compare them with those of the newly initiated master program “Management and business strategy” in order to determine if there exist continuity and progress in competencies that students acquire for develop a future career in valuation. Identify prospective competencies in valuation, based on courses syllabus and assessment requirements. Comparisons between all undergraduate curriculum in Economics Faculty to identify courses that can set up base competencies in valuation, based on the courses descriptions. Silvia Sumedrea - ERES 20083

4. “Transilvania” University of Brasov – mission and strategic objectives Mission: to provide and develop resources and instruments in education and scientific research at high standards, essential for successfully competing on the European space of higher education Secure the quality of activities in order to consolidate the reputation of “Transilvania” University as higher education institute at national level Integrate „Transilvania” University in the European space of higher education Increase the efficiency and competitiveness of the teaching processes Adjust the educational offer to the dynamics of the labour market Develop the scientific research according to European and national priorities Develop the university as an excellence point for the economic and social environment and get more involved in the community life; Develop an efficient management system based on the autonomy principles and an active partnership with the students Provide a quality life in university for the students Strategic objectives 4Silvia Sumedrea - ERES 2008

5. 1 Mechanical Engineering 2 Technological Engineering 3 Material Science and Engineering 4 Electrical Engineering and Computer Science 5 Silviculture and Forest Engineering 6 Wood Industry 7 Civil Engineering 8 Food and Tourism 9 Mathematics and Computer Science 10 Economic Science 11 Languages and Literatures 12 Music 13 Medicine 14 Physical Education and Sport 15 Law and Sociology 16 Psychology and Educational Sciences Faculties in Transilvania University of Brasov 5Silvia Sumedrea - ERES 2008

6. Study programs in economics The study programs in Economics that are developing base competencies in valuation for are: Management Accounting and information system Finance and banking Undergraduate: Management and business strategies Master: 6Silvia Sumedrea - ERES 2008

7. Undergraduate courses that set up base competencies in valuation Main courses Principles of management Business Law Financial mathematics Principles of accounting Statistics Specialization courses Financial analysis Financial management Investments Complementary courses Business ethics Foreign languages Silvia Sumedrea - ERES 20087 Diagnostic analysis and valuation of companies

8. Acquired competencies for career development in valuation – licence General competencies (understanding complex situations and models, applying models, computing data, analyze information, explaining results) Specific cognitive competencies (use of specific knowledge to diagnose, forecast, evaluate* ) (* - basic level) Valoric and affective competencies (correctitude, discipline, ability to work under direct managerial supervision, taking responsibilities, executing the tasks assigned) 8Silvia Sumedrea - ERES 2008

9. The need of developing programs for master studies Following the Bologna Agreement, the main issues resulting from joining EU are: - Harmonization of the Romanian legislation with the European legislation - Statistical standards - Economical reform Educate specialists within a performing and flexible education system Design and develop new study programs (graduate master and post-graduate studies) 9Silvia Sumedrea - ERES 2008

10. Mission of the study program “Management and business strategies” Scientific research and managerial innovation Teaching mission (preparing specialists in the managerial field at graduate master level) 10Silvia Sumedrea - ERES 2008

11. Occupations envisaged manager at operational, tactical or strategic level manager at functional level (HR, logistics, organization, material resources ) project manager management analyst quality manager management consultant scientific researcher in management teacher Competencies + Courses + NQF classification (COR) EQF requirements + Development of ECTS Valuator ? = Occupations envisaged

12. Common required courses: Operational management Managerial accounting Economic forecasting methods IT products for data analysis Commercial Law Risk management Research methods in management Entrepreneurship and business strategies Economic processes simulation Total quality management Expert systems in management Management of European projects Path A: - Financial strategies for business - Public organizations management - Leadership - Sustainable development management Path B: - Project management - Valuation of companies - Business communication - International business Module structure Curricula for the master degree in MANAGEMENT AND BUSINESS STRATEGIES 12Silvia Sumedrea - ERES 2008

13. Progress of base competencies for developing a career in valuation General competencies Specific cognitive competencies Valoric and affective competencies 13Silvia Sumedrea - ERES 2008

14. General competencies Ability to search, analyze, synthesize and critically interpret relevant information, processes, phenomenon and ideas from economic domain, even in case of hostile environment and/or with lack of data or with incomplete data Ability to prepare complex studies and projects in economic domain Ability to apply complex economic modelsAbility to formulate coherent solutionsAbility to communicate the results, both in Romanian and in a foreign language 14Silvia Sumedrea - ERES 2008

15. Ability to perform complex economic diagnosisAbility to valuate companies’ assets and liabilitiesAbility to determine the value of a company through multiple approaches Specific cognitive competencies 15Silvia Sumedrea - ERES 2008

16. Goal oriented, self-governingCorrect, competent and diligent High opinionated about professional and organizational ethics Valoric and affective competencies 16Silvia Sumedrea - ERES 2008

17. Based on identified competencies, we consider that there exist coherence between licence and master for training the students as future valuators. Silvia Sumedrea - ERES 200817 Conclusions During the preparation of the master curricula for “Management and business strategies”, on face-to-face discussions with former master students in management, along with the need for theoretical knowledge acquired in the university, three items became visible: 3. a need for knowledge comparisons with those of foreign students develop partnerships with universities both from Romania and from other countries. 1. a need for thoroughly information about career opportunities in valuation professors should emphasis all the competencies the courses are offering. 2. a need for more collaboration with practitioners in order to gain confidence in the use of their competencies develop partnerships with ANEVAR tutors.

18. Thank you! 18Silvia Sumedrea - ERES 2008