Principles and Practices of Management, Accounting for Managerial Decisions, Economics for Managers, Business Environment, E-Commerce
Principles and Practices of Management (OMBA-111)
Objectives of the Course
● To understand how an organization functions, and in understanding the complexity and wide variety of issues managers face in today’s business firms.
● To discuss the various concepts of planning, Decision making and controlling to help solving managerial problems.
● To study and understand management concepts and styles in Global context.
● To familiarize the students with the contemporary issues in management.
UNIT-I: Evolution of management thought, systems and contingency approach for understanding organizations, managerial processes, functions, skills and roles in an organization
UNIT-II: Social responsibility of business, Scope and challenges of CSR in Indian scenario, Management practices from past to present, Different levels of management, Managerial skills, Roles & Functions, Manager and Business environment.
UNIT-III: Planning- Objective of planning, planning process, Types of planning, Types of plans, Corporate planning, Management by Objective, Decision-making- types, process & techniques, making decision effective.
UNIT-IV: Organizing & staffing- Meaning of organization, types of organization, Organization structure, Span of management, Line and staff relationship, Departmentation, Delegation- Centralization and decentralization of authority, Meaning of staffing, Recruitment, selection & placement, Training & development.
UNIT-V: Directing & Controlling- Principle of directing, Essence of coordination, Basic control process, Different control techniques, Management by exception Course Outcomes (CO) CO1 Developing understanding of managerial practices and their perspectives. CO2 Applying planning and managerial decision-making skills. CO3 Comprehend and practice Indian Ethos and Value Systems. CO4 Applying value-based management and ethical practices.
Economics For Managers
Objectives of the Course
● To understand the relative importance of Managerial Economics.
● To discuss the managerial perspective to economic fundamentals and aids to decision making under a given environment.
● To understand the modern managerial decision rules and optimization techniques.
● To learn the tools necessary in analysis of consumer behavior as well as in forecasting product demand.
UNIT-I: Basic Concepts and principles Definition, Nature and Scope of Economics, MicroEconomics and Macroeconomics, Managerial Economics and its relevance in business decisions. Fundamental Principles of Managerial Economics – Incremental Principle, Marginal Principle, Marginal Concept and Optimization, Concept of Time Perspective, Equi-marginal Principle, Utility Analysis, Cardinal Utility and Ordinal Utility.
UNIT-II: Demand and Supply Analysis Theory of Demand, Types of Demand. Determinants of demand, Demand Function, Demand Schedule, Demand curve, Law of Demand, Exceptions to the law of Demand, Shifts in demand curve, Elasticity of Demand and its measurement. Price Elasticity, Income Elasticity, Cross Elasticity, Indifference Curve Theory, Income and Substitution effects, Revealed Preference Approach and Demand Forecasting, Demand Estimation, Demand forecasting: meaning, significance and methods.
UNIT-III: Production and cost Analysis Production concepts & analysis; Production function, Types of production function, Laws of production: Law of diminishing returns, Stages of Production, Law of returns to scale. Cost concept and analysis: Cost, Types of costs, Cost output relationship in the short-run; Cost output relationship in the Long- run. Estimation of Revenue. Average Revenue, Marginal Revenue
UNIT-IV: Market structures Perfect and Imperfect Market Structures, Perfect Competition, features, Pure Competition & Perfect Competition, determination of price under perfect competition. Monopoly: Feature, pricing under monopoly, Price Discrimination. Monopolistic: Features, pricing under monopolistic competition, product differentiation.
UNIT-V: National Income Concepts and various methods of its measurement, Says Law of Market, Consumption, Keynes’ Psychological Law of Consumption, Theories of Consumption, Investment, Decision to invest, Marginal Efficiency of Capital and Rate of Interest, Inflation, Causes and effects, Fiscal Policy, Monetary Policy.
Course Outcomes (CO)
CO1 Describe and judge how firms make the factors that determine these decisions.
CO2 Understand Demand and Supply Analysis.
CO3 Identifies the Production and cost Analysis.
CO4 Evaluate the Market structures.
Business Environment
Objectives of the Course
● To develop understanding and provide knowledge about the business environment to the management students.
● To promote basic understanding on the concepts of Business Environment and to enable them to realize the impact of the environment on Business.
● To provide knowledge about the Indian and international business environment.
UNIT-I: Introduction: Business Meaning, Definition, Nature & Scope, Objectives of Business: Economic & Social, Types of Business Organizations, Business Environment- Meaning, Characteristics, Scope and Significance, Components of Business Environment. Introduction to Micro-Environment Internal Environment: Value system, Mission, Objectives, Organizational Structure, Organizational Resources, Company Image, Brand Equity External Environment: Firm, customers, suppliers, distributors, Competitors, Society.
UNIT-II: Economic, Political and Legal environment Role of government in Business, Legal framework in India, Economic environment- economic system and economic policies. Concept of Capitalism, Socialism and Mixed Economy, Impact of business on Private sector, Public sector and Joint sector
UNIT-III: Social and Cultural Environment Nature, Impact of foreign culture on Business, Traditional Values and its Impact, Social Audit and Social Responsibility of Business, Competitive Environment – Meaning, Michael Porter’s Five Forces Analysis, Competitive Strategies. Introduction to Industrial Policy Resolutions
UNIT-IV: Natural and Technological Environment Innovation, technological leadership and followership impact of technology on globalization, transfer of technology, time lags in technology introduction, Status of technology in India; Management of technology; Features and Impact of technology
UNIT-V: Act and Policies Competition Act and FEMA, Monetary and fiscal policies RBI-Role and functions, Regulations related to Capital Markets, Role of SEBI and working of stock Exchanges.
Course Outcomes (CO)
CO1 Familiarize with the nature of the Business Environment and its components.
CO2 Able to demonstrate and develop conceptual framework of Business Environment and generate interest in business.
CO3 Outline how an entity operates in a Business Environment.
E- Commerce
Objectives of the Course
● To enable students to gain knowledge about E-commerce and its various components.
● To discuss Business Models of E-commerce and Infrastructures.
● To understand Business to Consumer E-Commerce.
● To discuss Electronic Payment Systems.
UNIT-I: Introduction to E-commerce Meaning and concept; Electronic commerce versus traditional commerce; Media convergence and e- business; Channels of e-commerce; Business applications of e- commerce; Need for e-commerce.
UNIT-II: Business Models of E-commerce and Infrastructures E- commerce models; Supply chain management, Product and service digitization, remote servicing pronouncement; Online marketing and advertising; E-commerce resources and infrastructures.
UNIT-III: Business to Consumer E-Commerce Cataloging order planning and order generation, cost estimation and pricing; order receipt and accounting order selection and prioritization; order scheduling; order fulfilling and delivery; order billing and payment management; post sales services. Business to Business E-Commerce: Need and alternative models of B2B e-commerce.
UNIT-IV: Securities Issues in E-commerce Security risks of e-commerce, exposure of resources, types of threats, sources of threats, security tools and risk management approach, ecommerce security and a rational security policy for e commerce, Corporate Digital Library; I.T Act 2000. Regulatory and Legal Framework of E-commerce.
UNIT-V: Electronic Payment Systems Special features required in payment systems for ecommerce; Types of e-payment systems; E-cash and currency services; e-cheques, credit cards, smart cards, electronic purses and debit cards; Business issues and economic implications; Operational credit and legal risks of e-payment systems.
Course Outcomes (CO)
CO1 To understand the significance of E- Commerce and its applications in Business.
CO2 To discuss Regulatory and Legal Framework of E-commerce.
CO3 To explain alternative models of B2B e-commerce.
CO4 To analyze E-commerce resources and infrastructures.
Accounting For Managerial Decision
Objectives of the Course
● To understand the concepts, methods, and techniques of management accounting.
● To discuss the usage in managerial decision making and control.
UNIT-I: Introduction to Accounting Management accounting as an area of accounting; objectives, nature and scope of financial accounting, cost accounting and management accounting; Management accounting and managerial decisions; Management accountant’s position, role, and responsibilities, Accounting Plan and Responsibility Centres: meaning and significance of responsibility accounting; Responsibility centers - cost center, profit center and investment center; objective and determinants of responsibility centers
UNIT-II: Managerial Costing and Break-even Analysis Concept of managerial cost; Marginal costing and absorption costing; cost-volume-profit analysis; Break-even analysis; Decisions regarding sales-mix; make or buy decisions and discontinuation of a product line etc
UNIT-III: Budgeting Definition of budget; Essential of budgeting; Types of Budgets; functional, master etc. Fixed and flexible budget; Budgetary control; Zero-base budgeting; Performance budgeting.
UNIT-IV: Standard Costing and Variance Analysis Standard costing as a control technique; setting of standards and their revision; Variance analysis - meaning and importance, kinds of variance and their uses - materials labor and overhead variance; Disposal of variances.
UNIT-V: Contemporary Issues Horizontal, vertical and ratio analysis; cash flow analysis. Reporting to Management: Objectives of reporting; reporting needs at different management levels; Types of reports, models of reporting, reporting at different levels of management.
Course Outcomes (CO)
CO1 Recognizes the importance of the application of management accounting concepts in various managerial decision-making processes.
CO2 Understand the various cost analysis required in business functioning.
CO3 Understand standard costing and variance analysis.