| IUnit I: Nature and significance of management | - Management as the process of getting things done effectively (right task) and efficiently (least cost)
- Characteristics, objectives (organisational, social, personal) and importance of management
- Management as science, art and profession, and why it does not meet the full criteria of a profession
- Top, middle and supervisory (operational) levels and their roles
- Functions: planning, organising, staffing, directing, controlling; coordination as the essence of management
- Effectiveness
- Efficiency
- Coordination
- Supervisory level
| Part I Ch 1 |
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| IIUnit II: Principles of management | - Nature of principles: universal applicability, general guidelines, flexible, behavioural, cause-and-effect, contingent
- Fayol's 14 principles, especially unity of command versus unity of direction, scalar chain and gang plank, order, equity, esprit de corps
- Taylor's principles: science not rule of thumb, harmony not discord, cooperation not individualism, development of each person
- Techniques: functional foremanship (eight specialists), standardisation and simplification, method, time, motion and fatigue study, differential piece wage system
- Fayol versus Taylor: basis, focus, applicability and personality
- Unity of command
- Scalar chain
- Functional foremanship
- Differential piece wage
| Part I Ch 2 |
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| IIIUnit III: Business environment | - Features: totality of external forces, specific and general forces, interrelatedness, dynamic, uncertain, complex, relative
- Importance: identifying opportunities and first-mover advantage, spotting threats, tapping resources, coping with change
- Economic, social, technological, political and legal dimensions with examples
- Linking a real change (a new law, a tax change, a new technology, a lifestyle trend) to the right dimension
- First-mover advantage
- Legal environment
- Technological environment
| Part I Ch 3 |
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| IVUnit IV: Planning | - Features: focuses on objectives, primary function, pervasive, continuous, futuristic, involves decision-making, mental exercise
- Importance and limitations (rigidity, costly, time-consuming, may reduce creativity, no guarantee of success)
- Planning process: setting objectives, developing premises, identifying alternatives, evaluating, selecting, implementing, follow-up
- Single-use and standing plans
- Objective, strategy, policy, procedure, method, rule, programme and budget
- Planning premises
- Standing plan
- Rule
- Procedure
| Part I Ch 4 |
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| VUnit V: Organising | - Organising process: identify and divide work, departmentalise, assign duties, establish reporting relationships; span of management
- Functional and divisional structures: suitability, merits and limitations
- Formal versus informal organisation
- Delegation: authority (can be delegated), responsibility (cannot be entirely delegated), accountability (cannot be delegated at all)
- Decentralisation and how it differs from delegation in nature, scope and purpose
- Span of management
- Divisional structure
- Accountability
- Decentralisation
| Part I Ch 5 |
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| VIUnit VI: Staffing | - Need and importance of staffing; staffing as part of human resource management
- Process: estimating manpower, recruitment, selection, placement and orientation, training and development, performance appraisal, promotion, compensation
- Internal (transfer, promotion) and external sources of recruitment
- Selection process: screening, tests, interview, reference checks, decision, medical, job offer, contract
- Training versus development; on-the-job (apprenticeship, coaching, internship, job rotation) and off-the-job (vestibule, case study, computer modelling) methods
- Recruitment
- Selection
- Vestibule training
- Job rotation
| Part I Ch 6 |
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| VIIUnit VII: Directing | - Meaning, importance and principles of directing
- Supervision and the role of the supervisor
- Motivation: Maslow's hierarchy (physiological, safety, belonging, esteem, self-actualisation); financial and non-financial incentives
- Leadership styles: autocratic (authoritative), democratic (participative) and laissez-faire (free rein)
- Formal and informal communication (grapevine); semantic, psychological, organisational and personal barriers and ways to overcome them
- Maslow's hierarchy
- Non-financial incentives
- Laissez-faire
- Grapevine
| Part I Ch 7 |
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| VIIIUnit VIII: Controlling | - Meaning and importance of controlling; controlling as both backward- and forward-looking
- Relationship between planning and controlling: planning is prescriptive, controlling is evaluative; they are inseparable
- Control process: set standards, measure performance, compare, analyse deviations, take corrective action
- Critical point control and management by exception
- Standards
- Deviation
- Management by exception
| Part I Ch 8 |
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| IXUnit IX: Business finance | - Objective of financial management: maximising shareholders' wealth (market price of shares)
- Investment (capital budgeting), financing and dividend decisions and the factors affecting each
- Financial planning: objectives and importance
- Capital structure: debt–equity mix, financial risk and trading on equity (ROI above cost of debt raises EPS)
- Factors affecting fixed capital and working capital requirements
- Trading on equity
- Capital budgeting
- Working capital
- Dividend decision
| Part II Ch 9 |
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| XUnit X: Financial markets | - Functions of financial markets; money market versus capital market
- Money-market instruments: treasury bills, commercial paper, call money, certificates of deposit, commercial bills
- Primary market methods (offer through prospectus, private placement, rights issue, e-IPO) and the secondary market
- Stock exchange functions, screen-based trading, depositories (NSDL, CDSL) and demat accounts
- SEBI (statutory body since 1992): objectives and regulatory, development and protective functions
- Treasury bill
- Commercial paper
- Demat account
- SEBI
| Older NCERT edition (Part II Ch 10, Financial Markets) |
|---|
| XIUnit XI: Marketing | - Functions of marketing and marketing versus selling
- Philosophies: production, product, selling, marketing and societal marketing concepts
- Product: classification of consumer and industrial products, branding, labelling and packaging
- Price: factors affecting price determination; place: channels of distribution and physical distribution components
- Promotion: advertising (and objections to it), personal selling, sales promotion and public relations
- Societal marketing
- Brand mark
- Physical distribution
- Sales promotion
| Part II Ch 10 |
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| XIIUnit XII: Consumer protection | - Importance of consumer protection from the consumer's and the business's point of view
- Consumer rights: to safety, to be informed, to be assured (choice), to be heard, to seek redressal, to consumer education; and consumer responsibilities
- Who can file a complaint, and against whom
- District, State and National Commissions: up to ₹50 lakh, ₹50 lakh–₹2 crore and above ₹2 crore; appeal from District to State within 45 days, and from State to National and National to Supreme Court within 30 days.
- Remedies available, and the role of consumer organisations and NGOs
- Right to be heard
- State Commission
- Redressal
| Part II Ch 11 |
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