Syllabus (COMMERCE)

Course Type: MAJ-7

Semester: 5

Course Code: BBCOMMAJ07T

Course Title: Principles of Business Management and Strategic Business Management

(L-P-Tu): 5-0-1

Credit: 6

Practical/Theory: Practical

Course Objective: The course aims to: 1. Serves as an opportunity to develop skills by imparting knowledge about different principles of management: planning, organising, motivation, leadership, and control in managing different issues of an organisation. 2. The course also focuses on the concept of strategy formulation and implementation by exploring the functions and nature of general management. 3. Impart knowledge about business strategies under different level of Business (Functional–Level Strategy and Business-Level Strategy)

Learning Outcome: After completion of the course, learners will be able to: 1. Understand the basic principles and Evaluation of business management. 2. Impart knowledge about Planning, Organising, Motivation, Leadership and Control of different aspect of business management. 3. Apply understanding for the theories, concepts of management in organizations. 4. Critically analyse the internal and external environments in which businesses operate and assess their significance for strategic planning.

Subject: Principles of Business Management and Strategic Business Management

Unit 1: Introduction (Lectures: 10)

Concept of management, Need for Study of management, Managerial Functions- An overview; Co-ordination, Essence of Managership. Evolution of the Management Thought, Classical Approach – Taylor, Fayol, Neo-Classical Approach - Human Relations Approach, Systems Approach, Contingency Approach – MBO

Unit 2: Planning and Organising (Lectures: 20)

Definition, nature and importance of planning, steps in planning, planning premises, benefits and limitations of planning, types of plan, decision making- concept, importance, steps.

Concept and process of organising – An overview, Span of management, Different types of authority, Decentralisation, Delegation of authority, departmentation, Formal and Informal Structure; Principles of Organising.

Unit 3: Motivation (Lectures: 10)

Concept, Importance, extrinsic and intrinsic motivation; Major Motivation theories - Maslow’s Need-Hierarchy Theory; Hertzberg’s Two-factor Theory, Vroom’s Expectancy Theory.

Unit 4: Leadership (Lectures: 10)

Concept, Importance, Leadership style, Major theories of Leadership, Transactional leadership, Transformational Leadership, Transforming Leadership.

Unit 5: Control (Lectures:10 )

Concept, Process, Limitations, Principles of Effective Control, Feed forward and feedback control.

Unit -6: Strategic Management: (Lectures: 15)

Concept of strategy; Strategic management process; levels of strategy, Importance of Strategic Management. Strategic Position – External and Internal Analysis: Concept of industry, Porter’s Five Forces Model; analysing competitive advantages and profitability; value chain analysis.

Functional–Level Strategy and Business-Level Strategy, Implementation of Strategy, organizational design; control systems; organizational culture; strategic leadership for competitive advantage.

Reading References:

Bhat & Kumar, Management: Principles, Processes, and Practices, Oxford University Press.

Chandan, J.S., Management: Theory and Practice, Vikas Publishing House.

Chhabra, T.N, Principles and Practice of Management, Dhanpat Raj & Co., New Delhi.

Drucker, Peter F., Practice of Management, Mercury Books, London.

Griffin, Management Principles and Application, Cengage Learning.

Gupta, C.B., Management: Theory and Practice, Sultan Chand & Sons.

Gupta, R.N., Principles of Management, S. Chand & Co.

Kreitner, Robert, Management Theory and Application, Cengage Learning.

Murgan, M.S., Management Principles and Practices, New Age International, New Delhi.

Prasad, L.M., Principles and Practice of Management, Sultan Chand & Sons.

Rao, V. S. P., Principles of Management, Himalaya Publishing House.

Azhar Kazmi, STRATEGIC MANAGEMENT & BUSINESS POLICY, Tata McGraw-Hill Publishing Company Limited, New Delhi.

Vipin Gupta, Kamala Gollakota & Srinivasan, BUSINESS POLICY & STRATEGIC MANAGEMENT, Prentice Hall of India Private Limited, New Delhi.

Amita Mittal, CASES IN STRATEGIC MANAGEMENT, Tata McGraw-Hill Publishing Company Limited, New Delhi.

Fred R. David, STRATEGIC MANAGEMENT CONCEPT AND CASES, PHI Learning Private Limited, New Delhi.