Course Content
Management Foundations
Management: Concept, Process, Theories, and Approaches, Management Roles and Skills
0/3
*A Brief History of Business Management
*Approaches to Management Thinking
Important Figures
Management Theories
0/13
*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
0/3
Planning
Controlling
The Functions of the Executive : 1938 : Chester Barnard
Communication
Communication: Types, Process, and Barriers
0/4
*Objective of Communication in Business
*Effective Written Communication
*Formal Communication Channel
*Communication Barriers
Decision Making
Decision Making: Concept, Process, Techniques, and Tools
0/7
*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
0/6
*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
0/2
Noteworthy Mentions
Implicit Cost & Explicit Cost; Accounting Profit & Economic Profit
Demand analysis
Demand analysis: Utility Analysis, Indifference Curve, Elasticity and Forecasting
0/18
*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
0/6
*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
0/2
*National Income: Concept, Types, and Measurement
Measurement of National Income
Inflation
Inflation: Concept, Types, and Measurement
0/7
*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
0/4
*Case Study: Introduction to Business Ethics
*Ethical Behaviour Clusters
*Case Study: Introduction to CSR
*Business Ethics Case Study: Moonlighting
Corporate Governance
Corporate Governance
0/4
*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
0/3
Elasticity of Supply (PES)
Time Preferance for Money
Production Cost and Its Types
Unit I : Evaluation
Unit I : Evaluation
0/1
Ultimate Quiz
Unit I: Business Management and Managerial Economics

🔁 Substitute Goods

Definition:
Substitute goods are products that can be used in place of one another to satisfy the same need. When the price of one increases, consumers may switch to the other.

Examples:

  • Tea and coffee

  • Butter and margarine

  • Pepsi and Coca-Cola

Elasticity Type: Cross-Price Elasticity of Demand (CPED)

  • Positive CPED: If the price of Good A increases, the demand for Good B increases (because consumers shift to the substitute).

  • The more closely related the substitutes, the higher the positive elasticity.​

🔗 Complementary Goods

Definition:
Complementary goods are products that are used together. An increase in the price of one leads to a decrease in demand for the other.

Examples:

  • Printers and ink cartridges

  • Cars and fuel

  • Mobile phones and mobile apps/subscriptions

Elasticity Type: Cross-Price Elasticity of Demand (CPED)

  • Negative CPED: If the price of Good A increases, the demand for Good B decreases, because they are consumed jointly.

  • The stronger the complementarity, the more negative the elasticity.

Previous
Next