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