Unit I: Business Management and Managerial Economics

Management Foundations
Management: Concept, Process, Theories, and Approaches, Management Roles and Skills

*A Brief History of Business Management
*Approaches to Management Thinking
Important Figures

Management Theories

*Case Study: Scientific Management
Time Study : 1880s : F.W. Taylor
Motion Study : 1900s : Frank Gilbreth and Lillian Gilbreth
*Social Systems Approach: 1901 : Vilfredo Pareto
*Scientific Management : 1910s : F.W. Taylor
*General Administrative Management Theory : 1916 : Henri Fayol
*14 Principles of Management : 1916 : Henri Fayol
5 Functions of Management : 1916 : Henri Fayol
*Bureaucracy Management Theory : 1921 : Max Weber
Human Relations Management Theory / Behavioural Approach Theory
*Hawthorne Studies : 1920s : Elton Mayo
*General System Theory : 1968 : Ludwig von Bertalanffy
*Management Jungle Theory : 1961 : Harold Koontz

Management Functions
Functions: Planning, Organizing, Staffing, Coordinating, and Controlling

Communication
Communication: Types, Process, and Barriers

Decision Making
Decision Making: Concept, Process, Techniques, and Tools

Organisation Structure and Design
Organisation Structure and Design: Types, Authority, Responsibility, Centralisation, Decentralisation, and Span of Control

Managerial Economics Foundations
Managerial Economics: Concept and Importance

Demand analysis
Demand analysis: Utility Analysis, Indifference Curve, Elasticity and Forecasting

*What is Demand?
*Analysing Consumer Demand
*Indifference Curve

00:00
Demand Curve & Law of Demand
*Understanding Market Dynamics: The Bandwagon, Snob, Income, and Substitution Effects
Supply Curve & Law of Supply
Summary
*Market Equilibrium Point
*Consumer Surplus & Producer Surplus
*Price Floor & Price Ceiling
*Elasticity Vs Inelasticity of Demand
Exceptions to the Law of Demand : Giffen & Vebblen Goods
*Nature of Goods and their Income Elasticities
Strategies for High Income Elastic Product (YED)
*Strategies for Low Income Elastic Products (YED)
*Nature of Goods and their Cross Price Elasticities
*Methods of Demand Forecasting
Planning Premises Vs Forecasts

Market Structures
Market Structures: Market Classification and Price Determination

National Income
National Income: Concept, Types, and Measurement

Inflation
Inflation: Concept, Types, and Measurement

Business Ethics & CSR: Ethical Issues & Dilemma
Business Ethics CSR: Ethical Issues Dilemma

Corporate Governance
Corporate Governance

Types of Markets

Unit I : Evaluation
Unit I : Evaluation

Course Content

Management Foundations Management: Concept, Process, Theories, and Approaches, Management Roles and Skills

*A Brief History of Business Management

*Approaches to Management Thinking

Important Figures

Management Theories

*Case Study: Scientific Management

Time Study : 1880s : F.W. Taylor

Motion Study : 1900s : Frank Gilbreth and Lillian Gilbreth

*Social Systems Approach: 1901 : Vilfredo Pareto

*Scientific Management : 1910s : F.W. Taylor

*General Administrative Management Theory : 1916 : Henri Fayol

*14 Principles of Management : 1916 : Henri Fayol

5 Functions of Management : 1916 : Henri Fayol

*Bureaucracy Management Theory : 1921 : Max Weber

Human Relations Management Theory / Behavioural Approach Theory

*Hawthorne Studies : 1920s : Elton Mayo

*General System Theory : 1968 : Ludwig von Bertalanffy

*Management Jungle Theory : 1961 : Harold Koontz

Management Functions Functions: Planning, Organizing, Staffing, Coordinating, and Controlling

Planning

Controlling

The Functions of the Executive : 1938 : Chester Barnard

Communication Communication: Types, Process, and Barriers

*Objective of Communication in Business

*Effective Written Communication

*Formal Communication Channel

*Communication Barriers

Decision Making Decision Making: Concept, Process, Techniques, and Tools

*Introduction to Decision Making

Summary of Decision Making Approaches

*Rational Decision-Making Model : 1940s : Herbert A. Simon

*Bounded Rationality Approach : 1957 : Herbert A. Simon

*Garbage Can Approach : 1972 : Cohen, March, and Olsen

*Decision Making Styles

*Decision Making Biases

Organisation Structure and Design Organisation Structure and Design: Types, Authority, Responsibility, Centralisation, Decentralisation, and Span of Control

*Mintzberg’s organisational type : 1979 : Henry Mintzberg

*Network Theory of Organization : 1980s : Ronald A. Burt

*Progression for developing an Organization Structure

*Modern Organisation Structures

*Types of Organizational Authority : Line, Staff & Functional

*Organization Span of Control

Managerial Economics Foundations Managerial Economics: Concept and Importance

Noteworthy Mentions

Implicit Cost & Explicit Cost; Accounting Profit & Economic Profit

Theory of Production in Economics

Demand analysis Demand analysis: Utility Analysis, Indifference Curve, Elasticity and Forecasting

*What is Demand?

*Analysing Consumer Demand

*Indifference Curve

Demand Curve & Law of Demand

*Understanding Market Dynamics: The Bandwagon, Snob, Income, and Substitution Effects

Supply Curve & Law of Supply

Summary

*Market Equilibrium Point

*Consumer Surplus & Producer Surplus

*Price Floor & Price Ceiling

*Elasticity Vs Inelasticity of Demand

Exceptions to the Law of Demand : Giffen & Vebblen Goods

*Nature of Goods and their Income Elasticities

Strategies for High Income Elastic Product (YED)

*Strategies for Low Income Elastic Products (YED)

*Nature of Goods and their Cross Price Elasticities

*Methods of Demand Forecasting

Planning Premises Vs Forecasts

Market Structures Market Structures: Market Classification and Price Determination

*Market Structure in Economics

Collusive Models of Oligopoly

*Non-Collusive Models of Oligopoly

*Sales Maximization Model : 1959 : William J. Baumol

*Price Discrimination

*Full Cost Pricing Theory : 1939 : Hall & Hitch

National Income National Income: Concept, Types, and Measurement

*National Income: Concept, Types, and Measurement

Measurement of National Income

Inflation Inflation: Concept, Types, and Measurement

*Phillips Curve

*Misery Index

*Sacrifice Ratio

Management Foundations
Management: Concept, Process, Theories, and Approaches, Management Roles and Skills

Management Functions
Functions: Planning, Organizing, Staffing, Coordinating, and Controlling

Communication
Communication: Types, Process, and Barriers

Decision Making
Decision Making: Concept, Process, Techniques, and Tools

Organisation Structure and Design
Organisation Structure and Design: Types, Authority, Responsibility, Centralisation, Decentralisation, and Span of Control

Managerial Economics Foundations
Managerial Economics: Concept and Importance

Demand analysis
Demand analysis: Utility Analysis, Indifference Curve, Elasticity and Forecasting

Market Structures
Market Structures: Market Classification and Price Determination

National Income
National Income: Concept, Types, and Measurement

Inflation
Inflation: Concept, Types, and Measurement

Business Ethics & CSR: Ethical Issues & Dilemma
Business Ethics CSR: Ethical Issues Dilemma

Corporate Governance
Corporate Governance

Unit I : Evaluation
Unit I : Evaluation