Scribd
Upload
1 views

Business_Management_Complete

The document outlines key concepts in business management, including management practices rooted in Indian Vedas, managerial roles, and functional areas. It discusses planning, decision-making, direction, communication, controlling, and leadership, emphasizing their importance in achieving organizational goals. The content is structured into units that provide a comprehensive overview of management principles and practices.

Uploaded by

vvrr9030
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
1 views

Business_Management_Complete

The document outlines key concepts in business management, including management practices rooted in Indian Vedas, managerial roles, and functional areas. It discusses planning, decision-making, direction, communication, controlling, and leadership, emphasizing their importance in achieving organizational goals. The content is structured into units that provide a comprehensive overview of management principles and practices.

Uploaded by

vvrr9030
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 4

Business Management - B.

Com 2nd Semester

BUSINESS MANAGEMENT
B.Com 2nd Semester

Unit 1: Introduction to Management

1. Management Practices in Indian Vedas


- Key Concepts: Ethics (Dharma), Wealth Creation (Artha), and Action (Karma).
- Relevance: Ancient Indian principles emphasize ethical decision-making and sustainable
business practices.
- Example: A business following ethical profit-making aligns with "Dharma" and "Artha."

2. Introduction to Management
- Definition: The process of planning, organizing, leading, and controlling resources to achieve
goals.
- Characteristics: Universal, dynamic, goal-oriented, and multidisciplinary.
- Importance: Efficient resource utilization, organizational success, and innovation.

3. Managerial Roles (Mintzberg's Theory)


- Interpersonal: Figurehead, Leader, Liaison.
- Informational: Monitor, Disseminator, Spokesperson.
- Decisional: Entrepreneur, Disturbance Handler, Resource Allocator, Negotiator.
- Example: A CEO acting as a spokesperson represents the informational role.

4. Functional Areas of Management


- Key Areas: Marketing, Finance, HR, Operations, and IT.
- Importance: Coordination among these areas ensures business efficiency.

5. Development of Management Thought


- Classical Approaches: Scientific Management (Taylor), Administrative Theory (Fayol),
Bureaucracy (Weber).
- Neo-Classical Approaches: Human Relations (Mayo), Behavioral Approach.
- Example: McDonald's follows scientific management principles.

6. Modern Management Approaches


- Contingency Approach: Flexible strategies based on the situation.
- System Approach: Organization viewed as an interconnected system.

Unit 2: Planning & Decision Making

1. Planning
- Concept & Characteristics: Future-oriented, goal-driven, continuous process.
- Types: Strategic, Tactical, Operational, Contingency.
- Importance: Reduces uncertainty and ensures proper resource allocation.

2. Decision Making
- Concept & Importance: Selecting the best alternative for solving problems.
- Process: Identify problem, gather data, evaluate options, implement decision.
- Types: Programmed vs. Non-programmed, Individual vs. Group decisions.
- Example: A manager deciding on launching a new product line.

3. Management by Objectives (MBO)


- Definition: Setting objectives collaboratively to align employee goals with organizational goals.
- Benefits: Improves motivation and clarity.

4. Organization Structure & Design


- Concept & Importance: Defines authority and responsibility.
- Types: Functional, Divisional, Matrix, Network structures.
- Authority & Responsibility: Centralization vs. Decentralization.

Unit 3: Direction & Communication

1. Direction in Management
- Concept: Guiding and supervising employees to achieve objectives.
- Techniques: Motivation, Leadership, Effective communication.

2. Coordination as an Essence of Management


- Definition: Synchronization of activities for smooth operation.
- Example: Cross-functional teams working on a project.

3. Communication in Management
- Concept & Nature: Exchange of information within an organization.
- Types: Verbal, Non-verbal, Written, Formal, Informal.
- Barriers: Language, Psychological, Organizational barriers.

4. Management of Change
- Concept & Nature: Adaptation to external and internal changes.
- Types: Structural, Technological, People-oriented changes.
- Resistance to Change: Fear of the unknown, lack of trust.

Unit 4: Controlling & Leadership

1. Controlling
- Definition: Monitoring and evaluating performance to ensure goals are met.
- Importance: Reduces errors, ensures efficiency.
- Process: Establish standards, measure performance, take corrective action.

2. Techniques of Control
- Traditional Techniques: Budgetary Control, Financial Statements.
- Modern Techniques: Balanced Scorecard, Key Performance Indicators (KPIs).

3. Motivation in Management
- Concept: Psychological factors that drive employees to perform.
- Types: Intrinsic vs. Extrinsic Motivation.
- Theories: Maslow's Hierarchy, Herzberg's Two-Factor Theory, McGregor's Theory X & Y.
4. Financial & Non-Financial Incentives
- Financial: Bonuses, Salaries, Stock options.
- Non-Financial: Recognition, Work-life balance, Career growth.

5. Leadership in Management
- Definition & Importance: Ability to influence and inspire employees.
- Leadership Styles: Autocratic, Democratic, Laissez-Faire.

Conclusion
This document covers the fundamental aspects of business management, including planning,
organizing, directing, and controlling.

You might also like