1. Essentials of Management:

The subject places special emphasis on practical applications, supplements the
focus on business ethics with an emphasis on cultural diversity. The idea is to prepare managers for tomorrow with specialized skills in Management who can survive in this competitive environment.

• We start with the Basis of Management Theory and Science. The nature and purpose of Management is detailed and we look into the interesting question of whether Management is an art or a science. The issues of social responsibility and ethics are discussed to increase the awareness of the in the minds of our young aspiring managers.

• Next comes the coverage of the significant factor in Management namely, Planning. We discuss the nature and the purpose of planning - the types of plans and the steps involved in the planning procedure. We also cover Management by Objectives in addition to Strategies, Policies and the Decision-making process.

• Organizing is the next stage in the program and we take a look at the nature and structure of organizing; Basic Departmentalization; Line/Staff Authority and Decentralization and Effective organizing and Organizational Culture.

• Further we go on to the area of Staffing including HRM and selection, Performance Appraisal & Career Strategy and the development and training of Managers and organizational development. We make use of a few case studies in this section to make it more interesting for students.

• The Human factor in Management is carefully looked at give it the credit that it deserves as it this is a very crucial part of effective Management; we cover the traits, approaches and techniques related to Motivation and Leadership. The importance of Communication is also discussed in relation the environment of an enterprise.

• The system and process of controlling covering the process and standards of effective controls in an enterprise is reviewed. Control techniques and the role of Information Technology in modern times, is discussed. We also take a closer look at Operations Management Systems and the issues related to improve productivity and the overall and preventive control and its relevance in an enterprise.

• Finally we adventure into the future with a look at International Management towards a unified global management theory where we discuss International Management in a few select countries and look into managerial functions in International Business. We make use of a few case studies in this section.

Supplied Text to the students: Essentials of Management by Harold Koontz and Heinz Weihrich

2. Business Policy:

The subject presents the major concepts and techniques of strategic management relating to real life situations. The subject helps students to understand the concepts of Business with a broader perspective and helps them to discharge responsibilities at higher level of management.

• The course starts with the introduction of Business Policy and its evolution as a discipline. The importance and purpose as well as the objectives of Business Policy, is discussed. We then look into the understanding of the term “strategy” in detail and the levels at which strategy operates.

• The nature and approaches of strategic decision-making is detailed, we look into the patterns of strategic behaviour and the role of strategists in this arena of strategic management.

• Strategic formulation is expanded upon, by understanding the mission and purpose of business as well as the objectives and goals it sets out to attain. We discuss the concept and components of environment and the appraisal of the environment.

• Organizational appraisal and the methods and techniques used for this process are covered to bring a perspective to the students to build a sound foundation in the subject. Strategic Alternatives are compared including the concepts of modern strategies; diversification and integration strategies; merger, takeover and joint venture strategies; divestment and liquidation strategies and finally combination strategies. The course then introduces the process of strategic choice and brings students to understand terms like SWOT analyses.

• Strategic Implementation and its correlation with strategic formulation, is highlighted. Project implementation and procedural implementation is covered in addition to the ongoing process of resource allocation and management. Structural considerations are looked at and an analysis of the organizational systems is made.

• The course then details the functional, marketing, financial, operational and personnel plans and policies and their integration, which does provide an interesting approach for the students to chew upon at this stage. Further leadership implementation is discussed and we also look into Corporate Culture and policies as well as Business Ethics and Social Responsibility, which are very important elements as students come to understand.

• The course concludes with the understanding of Strategic Evaluation and Control and its techniques and the role of organizational systems in their evaluation. The program also provides a few case studies to help students understand the content with practical examples mainly with reference to the Indian industry.

Supplied Text to the students: Business Policy by Azhar Kazmi