The courses in Business Studies and Accountancy are introduced at + 2 stage of Senior Secondary Education as formal commerce education is provided after first ten years of schooling. Therefore, it becomes necessary that instructions in these subjects are given in such a manner that students have a good understanding of the principles and practices bearing in business (trade and industry) as well as their relationship with the society.
Business is a dynamic process that brings together technology, natural resources and human initiative in a constantly changing global environment. To understand the framework in which a business operates, a detailed study of the organisation and management of business processes and its interaction with the environment is required.
Globalisation has changed the way organizations transact their business.
Information Technology is becoming a part of business operations in more and more organisations. Computerised systems are fast replacing other systems. E-business and other related concepts are picking up fast which need to be emphasized in the curriculum.
The course in Business Studies prepares students to analyse, manage, evaluate and respond to changes which affect business. It provides a way of looking at and interacting with the business environment. It recognizes the fact that business influences and is influenced by social, political, legal and economic forces.
Objectives:
- To inculcate business attitude and develop skills among students to pursue higher education, world of work including self employment.
- To develop students with an understanding of the processes of business and its environment;
- To acquaint students with the dynamic nature and inter-dependent aspects of business;
- To develop an interest in the theory and practice of business, trade and industry;
- To familiarize students with theoretical foundations of the process of organizing and managing the operations of a business firm;
- To help students appreciate the economic and social significance of business activity and the social cost and benefits arising there from;
- To acquaint students with the practice of managing the operations and resources of business;
- To enable students to act more effectively and responsibly as consumers, employers, employees and citizens;
COURSE STRUCTURE :
Unit Title Marks
Part A :Principles and Functions of Management
1. Nature and Significance of Management
2. Principles of Management 16
3. Business Environment
4. Planning 14
5. Organising
6. Staffing
7. Directing 20
8. Controlling
Part B: Business Finance and Marketing
9. Financial Management 15
10. Financial Markets
11. Marketing Management 15
12. Consumer Protection
Part A: Principles and Functions of Management
Unit 1: Nature and Significance of Management
• Management - concept, objectives, and importance
• Management as Science, Art and Profession
• Levels of Management
• Management functions-planning, organizing, staffing, directing and controlling
• Coordination- concept and importance
Unit 2: Principles of Management
• Principles of Management- concept and significance
• Fayol’s principles of management
• Taylor’s Scientific management- principles and techniques
Unit 3: Business Environment
• Business Environment- concept and importance
• Dimensions of Business Environment- Economic, Social, Technological, Political and Legal Demonetization - concept and features
• Demonetization - concept and features
Unit 4: Planning
• Concept, importance and limitation
• Planning process
• Single use and standing plans. Objectives, Strategy, Policy, Procedure, method Rule, budget and Programme
Unit 5: Organising
• Concept and importance
• Organising Process
• Structure of organisation- functional and divisional concept. Formal and informal organisation- concept
• Delegation: concept, elements and importance
• Decentralization: concept and importance
Unit 6: Staffing
• Concept and importance of staffing
• Staffing as a part of Human Resource Management concept
• Staffing process
• Recruitment process
• Selection – process
• Training and Development - Concept and importance, Methods of training - on the job and off the job - vestibule training, apprenticeship training and internship training
Unit 7: Directing
• Concept and importance
• Elements of Directing
• Motivation - concept, Maslow’s hierarchy of needs, Financial and non-financial incentives
• Leadership - concept, styles - authoritative, democratic and laissez faire
• Communication - concept, formal and informal communication; barriers to effective communication, how to overcome the barriers
Unit 8: Controlling
• Controlling - Concept and importance
• Relationship between planning and controlling
• Steps in process of control
Part B: Business Finance and Marketing
Unit 9: Financial Management
• Concept, role and objectives of Financial Management.
• Financial decisions: investment, financing and dividend- Meaning and factors affecting
• Financial Planning - concept and importance
• Capital Structure – concept and factors affecting capital structure
• Fixed and Working Capital - Concept and factors affecting their requirements
Unit 10: Financial Markets
• Financial Markets: Concept, Functions and types
• Money market and its instruments
• Capital market and its types (primary and secondary), methods of floatation in the primary market
• Stock Exchange - Functions and trading procedure
• Securities and Exchange Board of India (SEBI) - objectives and functions
Unit 11: Marketing
• Marketing – Concept, functions and philosophies
• Marketing Mix – Concept and elements
• Product - branding, labelling and packaging – Concept
• Price - Concept, Factors determining price
• Physical Distribution – concept, components and channels of distribution
• Promotion – Concept and elements; Advertising, Personal Selling, Sales Promotion and Public Relations
Unit 12: Consumer Protection
• Concept and importance of consumer protection
• Consumer Protection Act 1986: Meaning of consumer Rights and responsibilities of consumers Who can file a complaint? Redressal machinery Remedies available
• Consumer awareness - Role of consumer organizations and Non-Governmental Organizations (NGOs)