Principles and Functions of Management

• Unit I: Nature and Significance of Management

  • Management – concept, objectives, importance.
  • Nature of management; Management as Science, Art, Profession.
  • Levels of management – top, middle supervisory (First level).
  • Management functions – planning, organizing, staffing, directing, and controlling.
  • Coordination – nature, and importance.

• Unit II: Principles of Management

  • Principles of Management – meaning, nature, and significance.
  • Fayol’s principles of management.
  • Taylor’s Scientific Management – Principles and Techniques.

• Unit III: Business Environment

  • Business Environment – meaning and importance.
  • Dimensions of Business Environment – Economic, Social, Technological, Political, and Legal.
  • Economic Environment in India;Impact of Government Policy Changes onBusiness and Industry,with special reference to the adoption of the policies of liberalization privatization, and globalization.

• Unit IV: Planning

  • Meaning, features, importance, and limitations.
  • Planning process.
  • Types of Plans – Objectives, Strategy, Policy, Procedure, Method, Rule, Budget, Programme

• Unit V: Organising

  • Meaning and importance.
  • Steps in the process of organizing.
  • Structure of organization – functional, and divisional.
  • Formal and informal organization.
  • Delegation: meaning elements and importance.
  • Decentralization: meaning and importance.
  • Difference between delegation and decentralization.

• Unit VI: Staffing

  • Meaning, need, and importance of staffing.
  • Staffing as a part of Human Resources Management.
  • Steps in the staffing process.
  • Recruitment – meaning and sources.
  • Selection – meaning and process.
  • Training and Development – meaning, need, methods – on-the-job and off-the-job methods of training.

• Unit VII: Directing

  • Meaning, importance, and principles.
  • Elements of Direction:
    • Supervision – meaning and importance
      • Motivation – meaning and importance, Maslow’s hierarchy of needs; Financial and non-financial incentives.
    • Leadership – meaning, importance; qualities of a good leader.
    • Communication – meaning and importance, formal and informal communication; barriers to effective communication.

• Unit VIII: Controlling

  • Meaning and importance.
  • Relationship between planning and controlling.
  • Steps in the process of control.
  • Techniques of controlling.

Business Finance and Marketing

• Unit IX: Business Finance

  • Business finance – meaning, role, objectives of financial management.
  • Financial planning – meaning and importance.
  • Capital Structure – meaning and factors.
  • Fixed and Working Capital – meaning and factors affecting their requirements.

• Unit X: Financial Markets

  • Concept of Financial Market: Money Market – nature instruments;
  • Capital market: nature and types – primary and secondary market.
  • The distinction between capital market and money market.
  • Stock Exchange – meaning, functions, NSEI, OCTEI, Trading Procedure.
  • Securities and Exchange Board of India (SEBI) – Objectives, Functions.

• Unit XI: Marketing

  • Marketing – meaning, functions, role.
  • The distinction between marketing and selling.
  • Marketing mix – concept and elements:
    • Product – nature, classification, branding, labeling, and packaging
    • Physical distribution: meaning, role; Channels of distribution, – meaning, types, factors, determining the choice of channels.
  • Promotion – meaning and role, promotion mix, Role of Advertising and personal selling; objections to Advertising.
  • Price: factors influencing pricing.

• Unit XII: Consumer Protection

  • Importance of consumer protection.
  • Consumer rights.
  • Consumer responsibilities.
  • Ways and means of consumer protection – Consumer awareness and legal redressal withspecial reference to the Consumer Protection Act.
  • Role of consumer organizations and NGOs.

• Unit XIII: Entrepreneurship Development

  • Concept, Functions, and Need.
  • Entrepreneurship Characteristics and Competencies.
  • Process of Entrepreneurship Development.
  • Entrepreneurial Values, Attitudes, and Motivation – Meaning and Concept