Business Studies

Part A: Principles and Functions of Management

Unit I: Nature and Significance of Management

• Management - concept, objectives and importance
• Management as Science, Art and Profession
• Levels of management
• Management functions - planning, organising, staffing, directing and controlling
• Coordination - concept, characteristics and importance

Unit 2: Principles of Management

• Principles of Management - concept, nature and significance
• Fayol's principles of management
• Taylor's Scientific Management - principles and techniques

Unit 3: Management and Business Environment

• Business Environment - concept and importance
• Dimensions of Business Environment - Economic, Social, Technological, Political and Legal
• Impact of Government policy changes on business with special reference to liberalization, privatization and globalisation in India.

Unit 4: Planning

• Concept, importance and limitations
• Planning process
• Single use and Standing Plans - Objectives, Strategy, Policy, Procedure, Method, Rule, Budget and Programme.

Unit 5: Organising

• Concept and importance.
• Organizing Process.
• Structure of organization - functional and divisional.
• Formal and informal organization.
• Delegation: concept, elements and importance.
• Decentralization: concept and importance.

Unit 6: Staffing

• Concept and importance of staffing
• Staffing as a part of Human Resource Management
• Staffing process: Recruitment - sources; Selection - process
• Training and Development - Concept and importance. Methods of training- on the job and off the job- Induction training, vestibule training, apprenticeship training and internship training.

Unit 7: Directing

• Concept and importance
• Elements of Directing: - Supervision - concept, functions of a supervisor.; - Motivation - Concept, Maslow's hierarchy of needs; Financial and non-financial incentives.; - Leadership - concept, styles - authoritative, democratic and laissen faire.; - Communication - concept, formal and informal communication; barriers to effective; communication, how to overcome the barriers.

Unit 8: Controlling

• Concept, nature and importance
• Relationship between planning and controlling
• Steps in the process of control

Part B: Business Finance and Marketing

Unit 9: Financial Management

• Concept and objectives of financial management.
• Financial decisions : investment, financing and dividend and factors affecting.
• Financial planning - concept and importance.
• Capital Structure - concept and factors affecting.
• Fixed and Working Capital - concept and factors affecting their requirements.

Unit 10: Financial Markets

• Financial Markets: concept and types.
• Money market and its instruments.
• Capital market and its types (primary and secondary).
• Stock Exchange - functions and training procedure. Depository Services and D'mat Account.
• Securities and Exchange Board of India (SEBI) - objectives and functions.

Unit 11: Marketing Management

• Marketing - concept and functions.
• Marketing management philosophies.
• Marketing Mix - concept
• Product - concept, branding, labeling and packaging. Price - factors determining price.
• Physical distribution- concept, channels of distribution: types, choice of channels.
• Promotion - concept and elements; advertising- concept, role, objections against advertising, personal selling - concept and qualities of a good salesman, sales promotion - concept and techniques, public relations - concept and role.

Unit 12: Consumer Protection

• Concept and importance of consumer protection.
• Consumer Protection Act 1986
  • Meaning of consumer and consumer protection.
  • Rights and responsibilities of consumers
  • Who can file a complaint and against whom?
  • Redressal machinery.
  • Remedies available.
• Consumer awareness - Role of consumer organizations and Non-Governmental Organizations (NGOs).

Unit 13: Project Work