Bachelor in Bioeconomy Business Management Vytautas Magnus University

In order to develop the bio-economy as a separate sector of the economy, business management specialists are needed who:

• Have the knowledge and abilities necessary to manage and develop organizations.
• Are familiar with management processes, and technologies for the production, processing, and conversion of biological resources.
• Are able to perform management functions.
• Understand the economic, political, legal, and social context in a global society, able to evaluate it, and make management decisions in business and public organizations operating in the bio-economy sector and government institutions responsible for the development of the bio-economy sector.

The bio-economy sector and the business organizations operating in it are unique in terms of management functions. First, the development of the bio-economy sector is impossible without radical and disruptive innovation. Radical innovations are related to the introduction of new technologies and management processes, they cause a lot of uncertainty for existing business models and companies, and lead to the need to create new business models. Disruptive innovations destroy an existing market and create a fundamentally new market.

In addition, the bio-economy sector is characterized by systemic rather than linear innovations, which are necessary to ensure circularity. Thus, innovation management becomes one of the cornerstones in the development of the bio-economy sector. Secondly, the development of the bio-economy sector is characterized by cross-sectoral relations and includes many different sub-sectors. Thanks to cross-sectoral connections, limited biological resources can be used from energy and heat supply with the lowest added value to the production of pharmaceutical and cosmetic products with the highest value. For this reason, business planning and modeling, process and project management, human resource management, and corporate social responsibility are characterized by specificity.

Thirdly, the consequence of the development of the bio-economy sector is newly created biological products not only from primary biological resources but also from secondary biological resources and their waste. Thus, consumer behavior and the search for markets for newly developed biological products are quite challenging activities for management specialists. All this presupposes the need to train specialists who can describe and explain the systems and processes of organizations and their management, social responsibility, and ethical behavior, make reasonable organizational management decisions, analyze unstructured problems, and propose solutions in business and public organizations and government institutions operating in the bio-economy sector.

Choosing this study program you choose to be a professional of:

• Innovative bio-economy sector.
• Higher added value bio-product creation.
• Sustainable circular production without any waste.
• Production of high-quality durable products.
• Own bio-business establishment.

After studies business managers of bio-businesses will be able to:

• Explain the regularities of circular economy and bio-economy development, describe the economic, political, legal, and social context in a global society, and evaluate it when making managerial decisions that ensure sustainable use of resources in the organization.
• Describe and explain organizational systems and processes and their management, social responsibility, and ethical behavior in business and public organizations and government institutions operating in the bio-economy sector.
• Explain and apply the principles of production, processing, and conversion of biological resources and describe the processes necessary for sustainable economic development.
• Independently collect, systematize, analyze, and interpret information and data needed to conduct relevant research and support management decisions in business and public organizations and government institutions operating in the bio-economy sector.
• Independently analyze and critically evaluate various economic, political, legal, and social factors, and justify management decisions that ensure the sustainable use of resources.
• Make sound organizational management decisions integrating existing and new technologies of biological resources, including statistical data analysis, management, and application of methods, analyze unstructured problems, and propose solutions.
• Prepare, evaluate, and implement investment projects and programs, conduct market research, conduct product marketing, and manage changes in the organization.
• Manage and evaluate biological resources production, processing and conversion technologies, and technological processes using appropriate experimental, analytical, and statistical methods.
• Communicate in writing and orally, learn and work independently, be able to think analytically and reflectively, adapt to changes, and master new technologies.

After obtaining a Bachelor's degree in Business Management, You will be able to work:

• Managers, project managers, management and organization analysts, management consultants, sales, marketing, and development managers, market research analysts, sales managers, and public relations specialists in the bio-economy sector in operational and public organizations.
• As group leaders, department administrators, program coordinators, advisors, consultants, evaluators, experts, and public relations specialists in government institutions responsible for the development of the bio-economy sector.
• Create your own business.
• Continue studies for a master's degree, obtaining a master's degree in business management or other social sciences.