Course Content
Management Foundations
Management: Concept, Process, Theories, and Approaches, Management Roles and Skills
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*A Brief History of Business Management
*Approaches to Management Thinking
Important Figures
Management Theories
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*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
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Planning
Controlling
The Functions of the Executive : 1938 : Chester Barnard
Communication
Communication: Types, Process, and Barriers
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*Objective of Communication in Business
*Effective Written Communication
*Formal Communication Channel
*Communication Barriers
Decision Making
Decision Making: Concept, Process, Techniques, and Tools
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*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
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*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
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Noteworthy Mentions
Implicit Cost & Explicit Cost; Accounting Profit & Economic Profit
Demand analysis
Demand analysis: Utility Analysis, Indifference Curve, Elasticity and Forecasting
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*What is Demand?
*Analysing Consumer Demand
*Indifference Curve
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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
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*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
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*National Income: Concept, Types, and Measurement
Measurement of National Income
Inflation
Inflation: Concept, Types, and Measurement
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*Phillips Curve
*Misery Index
*Sacrifice Ratio
*Okun’s Law
*Consumer Price Index (CPI) & Wholesale Price Index (WHI)
*GNP Deflator and Rate of change of GNP Deflator
*Structuralist Theory of Inflation : 1950s : G. Myrdal and P. Streeten
Business Ethics & CSR: Ethical Issues & Dilemma
Business Ethics CSR: Ethical Issues Dilemma
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*Case Study: Introduction to Business Ethics
*Ethical Behaviour Clusters
*Case Study: Introduction to CSR
*Business Ethics Case Study: Moonlighting
Corporate Governance
Corporate Governance
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*Corporate Governance Introduction
*Case Study: Introduction to Corporate Governance
*Case Study : Kumar Mangalam Birla Committee report
*Anglo-Saxon Model of Corporate Governance
Types of Markets
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Elasticity of Supply (PES)
Time Preferance for Money
Production Cost and Its Types
Unit I : Evaluation
Unit I : Evaluation
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Ultimate Quiz
Unit I: Business Management and Managerial Economics

🔹 Collusive Models

In these models, firms cooperate either formally or informally to reduce competition and maximize joint profits.

1. Cartel

Definition: A formal agreement among firms to coordinate pricing or output.

Types:

  • Profit-Sharing Cartel: Firms agree on output/pricing to maximize total profit, then share it based on a formula.

  • Market-Sharing Cartel: Firms divide the market geographically or by customers, but retain price independence.

Outcome:

  • Functions like a monopoly.

  • High prices and restricted output.

  • Instability due to incentive to cheat.

2. Price Leadership

Definition: One dominant firm sets the price; others follow.
Types:

  • Dominant Firm Price Leadership: The largest firm sets the price.

  • Barometric Price Leadership: A firm with good market judgment becomes the price setter.

  • Aggressive Price Leadership: A firm forces others to follow by cutting prices.

Outcome:

  • Avoids open collusion.

  • Price stability without explicit agreement.

  • Smaller firms accept the leader’s pricing to avoid price wars.

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