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BUSINESS MANAGEMENT
OPERATIONAL RESEARCH
WEB DEVELOPMENT TECHNIQUES
OPTIONAL PAPERS OFFERED
for Year 2 Semester 3
Optional Paper – BUSINESS MANAGEMENT
INTRODUCTORY NOTE
What is BUSINESS MANAGEMENT
• The subject Business Management will impart knowledge that is necessary to manage the total functions of a business in an efficient and effective manner.
OBJECTIVES OF THIS MODULE
Improve management skills
Understand a basic marketing plan
Understand and interpret financial statements
Contd…..
Objectives of this module (Contd.)
Apply cost accounting principles in decision making
Apply economic principles in businesses operations
Apply an effective inventory control
system Contd…….
Areas covered in BUSINESS MANAGEMENT
• MANAGEMENT• MARKETING• FINANCIAL ACCOUNTING• MANAGEMENT ACCOUNTING• ECONOMICS
MANAGEMENT
Evolution of Management The Management process Schools of thought and
management theories
Managerial Roles & Skills Roles of a manager Management skills Challenges of management
MANAGEMENT (Contd.)
Planning, Organizing, Leading, & Controlling Major functions in Management The formal planning process and
strategic planning. Basics in organizing. Leadership as a function of
management. Control Function
MANAGEMENT (Contd.)
Organizational Structure & Behaviour
Organizational structures
Co-ordination, communication, delegation and empowerment
Concept of Centralization and De- centralization
MANAGEMENT (Contd.)
Motivation & Leadership
Content, Process, and reinforcement theories
Theories in leadershipTrait, Behavioural and contingency approaches
MARKETING
Basic principles in marketing Marketing mix Process of segmentation targeting, and positioning Basic Product life cycles and BCG Matrix How to develop a marketing strategy
FINANCIAL ACCOUNTING
Financial Accounting Principles
The principles and conventions in financial accounting
Different forms of ownership in business entities
Financial Accounting (Contd.)
Double Entry
Principles of Double Entry
Writing up the ledger accounts Extraction of the Trial Balance
Financial Accounting (Contd.) Preparation of Final Accounts
Profit & Loss Account
Concepts behind a Profit & Loss Account
Preparation & interpretation of a Profit & Loss A/c.
Financial Accounting (Contd.)
Preparation of Final Accounts
Balance Sheet
Concepts behind a Balance Sheet Preparation and interpretation of a Balance Sheet
MANAGEMENT ACCOUNTING
Ratio Analysis
The use of ratios to interpret financial statements
Different ratios commonly used.
Management Accounting (Contd.)
Cost Accounting and Decision Making
The basic cost accounting principles Relevance to pricing of products/services
Management Accounting (Contd.)
Inventory Control
Different types of Inventory costs
Stock Control methods
Stock Pricing methods
Economic Order Quantity (EOQ)
ECONOMICS
Managerial Economics
Basic theories of Economics Demand and Supply Different types of markets Principles of costs – Short-run/Long-run Basic Macro Economic principles
Why Select Business Management
Help in the future career path by giving a better understanding of the business world
Ability to communicate with businesses
How will BUSINESS MANAGEMENT help you in other areas
Develop IT Solutions for Organisations
Provide Background knowledge to be an entrepreneur
Develop IT Solutions for Organisations
Organisations require IT Solutions to: Reduce Operational costs Speed up operations Ready access to any managerial
information Low cost production Facilitate Value for money pricing Improve Profitability
Provide Background knowledge to be an entrepreneur
Cost product/service Price product/service Develop a marketing strategy Compare performance with that of your Competitors Prepare a budget Evaluate performance – both marketing and financial
Business Management skills will help in understanding to:
Identify the problems faced by a business Take timely decisions for corrective action Steer the Organisation to success
Examination- Year 2- Semester 3Optional Paper – Business Management
Examination Paper will be for 3 hours:Part 1 – 1.5 hours Multiple Choice Questions
Part 2 – 1.5 hours Structured Questions. A Case Study
Business Management – Recommended hours of teaching
Evolution of Management - 4 hoursManagerial roles and skills – 3 hoursPlanning, Organising, Leading and Controlling - 5 hoursOrganizational Structure & Behaviour - 4 hoursMarketing - 6 hoursMotivation and Leadership- 5 hours
Business Management – Recommended hours of teaching (Contd.)
Financial Accounting - 2 hoursDouble Entry - 2 hoursBalance Sheet - 2 hoursProfit & Loss Account - 2 hoursRatio Analysis - 4 hours
Business Management – Recommended hours of teaching (Contd.)
Cost Accounting and decision making - 6 hoursManagerial Economics - 12 hoursInventory Control - 3 hours
TOTAL 60 HOURS
Business Management Books Recommended
MAIN READING: Management 6th Edition by James A.F.Stoner & R. Edward FreemanPrinciples of Marketing (8th edition) by Philip Kotler & Gary ArmstrongSpicer & Pegler’s Book-Keeping and Accounts 19th edition by Paul Gee
Business Management Books Recommended
MAIN READING (Contd.)
Management Accounting 3rd Edition by T. LuceyAn Introduction to Positive Economics 6th Edition by Richard G. LipseyQuantitative Techniques 4th Edition (Chapter 11 to 14) by T. Lucey
Business Management Books Recommended –Supplementary Reading
Management by Cole Marketing Management 9th edition by Philip Kotler Costing –An Instructional Manual 2nd Edition by T. LuceyQuantitative Methods Management 1st Edition by K.R.M.T.Karunaratne