00 Amugham 00 - Keralascert.kerala.gov.in/images/2015/teachertext/Plustwo... · • Continuous and comprehensive evaluation helps in improving students performance by identifying

Business StudiesTeacher Text

Government of Kerala

DEPARTMENT OF EDUCATION

State Council of Educational Research and Training (SCERT), Kerala

2015

XII

Prepared by :

State Council of Educational Research and Training (SCERT)Poojappura, Thiruvananthapuram 695012, Kerala

Website : www.scertkerala.gov.in e-mail : [email protected] : 0471 - 2341883, Fax : 0471 - 2341869

Typesetting and Layout : SCERT© Department of Education, Government of Kerala

Teacher Text Development Team

Academic Co-ordinator

Dr. S. Jayalekshmi

Research Officer, SCERT Kerala

C.H. ArunkumarKKMHSS, Vandithavalam, Palakkad

Biju ThankappanSNHSS, Nankicity, Kanjikuzhy, Idukki

Thomas.P.VGovt. HSS, Aralam, Kannur

Biju MathewSt. George HSS, Vazhathoppu, Idukki

Haridas.UMNKM HSS, Chittilamchery, Palakkad

Anil GomazMVHSSS, Peroor Kollam,

Narayanan.C. MSt. Mary’s HSS, Pariyapuram Post,Malappuram

Vinod.Vkarimpuzha HSS, Thottara,Palakkad

Experts

Dr.P.S. DevakumarAsst. Professor , Dept. of Commerce,

Govt. College for Women, Thiruvananthapuram

Dr. Bino JoyAsst. Professor & Head , Dept. of Commerce,Govt. College, Manimala kunnu, Ernakulam

Dear Teacher,

The teacher text on Business Studies has been developed based

on the Kerala School Curriculum 2013 and National Curriculum

Framework 2005.

As you all know, the process of transacting the curriculum is

challenging as it demands higher level of proficiency, dedication

and commitment on the part of the teacher who plays a pivotal

role in transacting the curriculum.

Our teachers are quite resourceful and can easily come up with

much more innovative ideas and strategies than the ones suggested

in this book.

The Teacher Text on Business Studies for the second year Higher

Secondary Course aims at familiarising the practising teachers

with the features of revised curriculum and the changed assess-

ment strategies to be adopted in the classroom to ensure learning

in every learner.

Suggestions for improvement are most welcome.

With regards,

Dr. S.Raveendran Nair

Director

SCERT, Kerala

Forewo rdForewo rdForewo rdForewo rdForewo rdForewo rdForewo rdForewo rdForewo rdForewo rd

Contents

Part - A

General Approach ......................................................................... 5

Assessment Approach .................................................................. 24

Subject Approach .......................................................................... 35

Syllabus ........................................................................................ 54

Learning Outcomes....................................................................... 58

Scheme of work ............................................................................ 64

Part B - Units1 Nature and Significance of Management................... 65

2 Principles of Management .......................................... 79

3 Business Environment ................................................. 86

4 Planning ....................................................................... 95

5 Organising ................................................................. 101

6 Staffing ....................................................................... 108

7 Directing .................................................................... 115

8 Controlling ................................................................. 125

9 Financial Management .............................................. 131

10 Financial Markets ...................................................... 139

11 Marketing ................................................................... 147

12 Consumer Protection ................................................. 162

13 Entrepreneurship Development ................................ 169

Guidelines & Sample Question Papers .................................. 178

35Higher Secondary - XII

Subject Approach

Education at higher secondary level assumes greater significance,after ten years of general education, as this is the first time a studenttakes the path of diversification. A student has to exercise prudencewhile choosing an alternative from various options available to him.One’s own needs Interests, capabilities, aptitude and challenges theyhave to face in future has to be kept in mind while arriving at adecision in this stage.

National Curriculum Framework 2005 (NCF 2005) and Kerala SchoolCurriculum 2013 (KSC 2013) envisage a multifarious approach toaddress all the challenges faced by the student community, in itscurriculum revisions. Considering the above, NCF 2005 has put forthsome guiding principles for curriculum development.

• Connecting knowledge to life outside the school

• Shifting of learning from rote methods

• Enriching the curriculum to provide for overalldevelopment of children rather than text book centric.

Commerce Education

The role of education is changing very rapidly due to changes insociety. Education is in great demand and technology is changingand so is curriculum. The subject of commerce is skill oriented andlife centric in nature. The use of ICT and internet in particular hasopened new vistas for making education process effective.Commerce curriculum is more relevant because business providesmaximum employment opportunities; hence maximum exposureand emphasis must be given for skill acquisition in students.

It is commonly agreed that education should aim at the holisticdevelopment of the individual. Both NCF 2005 and KSC 2013acknowledge the above and insist that such development shouldbe in harmony with the society and nature. Commerce education athigher secondary stage is not merely to satisfy the skills or vocationalneeds of pupil but provides a basic understanding of the variousprinciples, procedures and practices related to business. It alsofosters an understanding of the economy of the country in which

36 Business Studies

activities related to business and industry takes place. Commerceshould be taken as both a knowledge subject and a skill subject.

Objectives of Commerce Education

• To develop skills such as conceptual skills, technical skillsand practical skills in the field of industry, commerce,management and accounting.

• To prepare a student for a career in business or to start abusiness enterprise of his/her own.

• To give each student enough opportunities to acquirerelevant knowledge about business and economy.

• To familiarise students with current business processes andpractices.

• To familiarise students with the behaviour of markets,products as well as finance.

• To develop skills in the use of information technology forbusiness.

• To develop capability in each student to identify businessopportunities, analyse their risk-return possibilities andsupport business development in socially desirable avenueswith strong moral commitment

• To develop in students a business attitude and skills to beprecise and articulate, considering its ethical side.

Features of Commerce Curriculum

• Following are the special features to be considered whiletransacting commerce curriculum.

Linkage with Industry

In order to have experience to the world of work, the learners shallhave to have an interaction with outside organizations, agencies andcommunity at large. The schools having commerce stream have totake an initiation in establishing this linkage with the industry.


The subject business studies provide immense possibilities forlinkage with industries including service sectors. Focusing only onthe theoretical and conceptual discussions of various aspects ofbusiness and trade and talking about developing skills as well asacquisition of practical knowledge in the subject is not wise. Theunit ‘Forms of business organization’ provides an understandingon the concepts of different forms of organization. But providingopportunities to visit some of these organizations and a head ondiscussion with the employees and managers will enhance theconfidence and impart practical knowledge to the students. Thechapter on ‘Business services’ discusses, how institutions like banksand insurance and sectors like transportation and communicationplays a pivotal role in business and trade.

A creative teacher handling the subject must take up the chances toshow a glimpse of what is happening inside these organizations.This is very important for sustaining their interest in the subjectand making them useful to the employers as well as to the societyin general. The student may assign some project work relating tothe subject of study. Let us say – in ‘Emerging modes of business‘students may be asked to do online assignment on buying books,conduct e-banking transactions for their parents, making onlineutility payments etc.

Entrepreneurial Values

Commerce education should emphasis on imparting practical skillsand should develop entrepreneurial values and attitudes amongstudents, so that they are motivated to be enterprising, creative, riskbearing, taking initiative and induced to take up their own ventures.While teaching business studies, entrepreneurial values, attitudesand skills should be groomed from school days so that the passouts can be prepared to set up their own ventures instead of lookingfor employment. The chapter – ‘Small business unit’ is an aptexample where the facilitator can promote these values. Here aninterview with an expert will also do well to the students on theaspects of financial assistance and special schemes for setting up ofsuch business.

38 Business Studies

ICT Enabled

NCF 2005 and KSC 2013 stress the need on developing practicalskills and as a part of it, computer based education should be givenemphasis. Development in the field of computers and IT hasinfluenced the way business is transacted. The expansion of e-commerce, e-finance, e-marketing, e- business, Outsourcing businessand call centre activities have influenced the business process in agreat way. These have to be reflected in our syllabus also.

Our business studies book very well represents on how theinformation technology has influenced the business transactions. Theinclusion of ‘Emerging modes of business’ in the syllabus is a perfectexample for this. Assigned activity on ‘googling’ various aspectscan be doled out to the students. Some instances of internet usagecan be to collect information on:

• Model articles of association and memorandum ofassociation

• Registration of partnership firm

• Examples for different forms of public and global enterprises

• WTO agreement etc.

Practical skills

Greater highlight on acquisition of various skills such aspresentation, communication, analytical, problem solving andlistening skills which are used commonly in all commerce relatedoccupations are given importance. The opportunities fordevelopment of these skills in students must be given focus in thecurriculum and KSC 2013 puts forth that these skills can bedeveloped through constructivism based teaching learning processwhile having class room transactions.

The following aspects are highlighted in the curriculum revision.

• Mobilisation and utilization of all resources including humanresources as well as comprehensive planning, organizational


competence and intellectual leadership are necessary in studentsfor social development. The ultimate aim of commerce educationis to mould such a force, who can work for social upliftment.

• Increased production and distribution process due to industrialrevolution has enhanced the role of commerce educationuniversally.

• Every human being require a set of skills for achieving successin life and commerce education gives emphasis to developmentof these set of practical skills in commerce students.

• The task of utilization of resources by conservation ofenvironment and compassion to fellow beings on one hand andenrichment of skills, rise in confidence on the other is inevitablein students for social growth. The inculcation of the aboveleadership qualities in students should be the essence of teachingand learning of commerce.

• The syllabi and text books in commerce have been preparedkeeping in mind the values and attitude that a commerce studentshould develop in the social context. The chapter on ‘socialresponsibility of business’ discusses how a business unit has totake care of the society of which it is a part. Environmentalprotection also forms part of the unit where conservation andindustrial pollution is discussed. Our objective is to sensitizethe student to social issues and concerns and the fact that businesscan do a lot for society while fulfilling its social obligation.Another priority areas in the text book is rural development andgrowth, which has been given a special emphasis. Teachersshould ensure that these values are also inculcated whilefacilitating learning activities in the business studies classrooms.

• Curriculum transaction techniques lay stress to the attainmentof learning outcomes stated in the curriculum by all learners.

• Continuous and comprehensive evaluation helps in improvingstudents performance by identifying whether the learningoutcomes has been achieved or not. A major focus is given hereto improve the effectiveness of CCE by introducing differentmodes of assessment in teaching and learning process.

40 Business Studies

About the subject Business Studies

The subject Business Studies is introduced at higher secondaryeducation as formal commerce education is provided after ten yearsof schooling. Therefore, it becomes necessary that the transaction ofthis subject is given in such a manner that students have a goodunderstanding 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 changingglobal environment. To understand the framework in which abusiness operates, a detailed study of the organization andmanagement of business processes and its interaction with theenvironment is required. Globalisation has changed the way firmstransact their business. Information technology is becoming a partof business operations in more and more organizations. E-businessand other related concepts are picking up fast which need to beemphasized in the curriculum.

The subject Business Studies will prepare students to analyse,manage, evaluate and respond to changes which affect business. Itprovides a way of looking at and is influences by social, political,legal and economic forces. It allows students to appreciate thatbusiness is an integral component of society and develops anunderstanding of many social and ethical issues. It informs thestudents of a range of study and work option and bridges the gapbetween school and work.

Objectives

1. To develop in learners an understanding of the processes ofbusiness and its environment

2. To acquaint learners with the dynamic nature andinterdependent aspects of business

3. To develop an interest in the theory and practice of business,trade and industry

4. To familiarize learners with theoretical foundation of


organizing, managing and handling operations of a businessfirm

5. To help learners appreciate the economic and socialsignificance of business activities and the social costs andbenefits arriving there from

6. To acquaint learners with the practice of managing theoperations and resources of business

7. To prepare learners to function more effectively andresponsibly as consumers, employers, employees and citizens

8. To help learners in making the transition from school to theworld of work including self employment

9. To develop in learners a business attitude and skills to beprecise and articulate.

Learning Strategies

Variety of learning strategies can be used for transacting the contentwhich will open the new ways of constructing knowledge to theCommerce students to enlighten the knowledge explosion inCommerce. In view of this objective the following action orientedlearning strategies are introduced at the higher secondary level. Someof them are explained below.

1. Project Method

Project is one of the most appropriate strategies for learningcommerce. It consists of a sequence of activities of a learner to collect,tabulate, analyse and interpret relevant data so as to evolve findingsto solve the felt problem. Project Method is based on the idea thattrue knowledge is acquired not merely by reading books andattending lectures but by the learner themselves. Learning by doingand learning by living are two cardinal principles of this method. Itis a creative way of self learning which help to develop the fullpotential of the learners.

Stages

I Selection of topic

a . Identify the Problem

A project has to be done on a felt problem in the classroom learningsituation. It should not be done for the sake of project work, but for

42 Business Studies

problem solving. Most of the project work areas evolve from theacademic discussions in the classroom For example,

b Formulate a Suitable Title

Based on the identified problem, a suitable title has to be formulated.The title must be specific, clear and appropriate to the subject.

II State the Objectives

In view of the problem identified, the learner wants to gather someinformation relating to the problem. This will help the learners inunderstanding the problem better.

III Planning

This can be done through a discussion in the class.

a Formulation of Hypothesis

Planning can begin with formulation of hypothesis.

b Methods and techniques

Methods and technique should be based on the objectives andhypothesis of the study. The nature of study, suitability of tools,methods of learning etc should be related to one another.

c. Identify the Source of data

Based on the objectives data may be collected from primary orsecondary sources. Primary sources include real field of study. Thedata can be collected through observation, questionnaire, Interviewsetc. Secondary sources include published documents namely report,news articles, paper reports etc.

d. Collection of Data

Data may be collected through various methods, for which toolshave to be prepared.

e. Analysis and Interpretation of data

The data so collected should be tabulated, analysed and interpretedto derive possible conclusions. Collected information from theinterview should be processed for analysis and interpretation.

f. List out the findings

The conclusion derived be systematically listed to arrive asuggestions or conveying of useful information.


IV. Execution of project

An outline of the project based on the components discussed abovemay be drawn. The project activities may be carried out accordingto the plan with necessary modifications as and when required.

V. Preparation of Report

The report of the project should be prepared in a self explanatoryfor future reference, containing charts, pictures, document files etc.

The report may be prepared in the following format

1 Title page

2 Authentication certificate

3 Acknowledgement

4 Content

5 Body of the report

a. Introduction

Stating the problem, objectives, hypothesis and relevance of study.

b. Methodology

Methods and techniques, source of data, tools used for the study,details of collected data.

c. Analysis and interpretation of data

Tabulation of data, analysis and interpretation

d. Findings

6 Suggestions if any

7 References/ Bibliography

8 Appendices (questionnaire, observation schedule, checklist,interview schedule.)

VI Presentation of Project

Through a project presentation, the learner is getting accepted. Ideascan be communicated and shared with others. It can be presented ina commerce club meeting.

44 Business Studies

2. Assignment

Assignment is some specific work assigned to the students as partof their academic enrichment. These are learning activitiesundertaken as a continuation of classroom activities to achievelearning outcomes. They should be completed in time bound manner.They help to lead the learner to higher level of learning from thepresent status. It may vary from writing an essay to organisingproject works. Challenging assignments can motivate the studentsto involve in group dynamics and achieve fruitful results. Theteacher may act as a guide.

Assignments may be given on individual or group basis.Assignments include preparation of notes, preparation of charts,models, collection of materials from industrial and financialinstitutions etc. Assignments develop skills of reference,observation, enquiry and reporting etc. It ensures the affectiveutilization of leisure time of the students.

3. Seminar

Seminar is a learning method involving an in-depth analysis of aspecific topic, preparation of a paper and presentation before thestudents. The paper is presented by either one student or a groupof students. After the presentation, there will be a discussion/interaction in which all students can participate. The students getan opportunity to clear their doubts and make clarifications. Seminarhelps to develop communication skill and to overcome stage fright.

Stages

1. Selection of topics

The topic of seminars should be relevant to the subject of study.

2. Assignment of topic to individual student or teams

The topic may be prepared by a one student or a group ofstudents


3. Collection of relevant information

Information required for seminar can be collected from varioussources namely websites, News papers, Magazines, T.V, Radioetc.

4. Preparation of the draft paper

Based on the information collected, the presenter may preparea draft paper and submit it to the teacher for comments.

Revise the draft paper based on the comments by the teacher

5. Finalisation of the paper

The student may submit the revised draft to the teacher forapproval.

6. Program scheduling

Now the task of the students is to fix the date, time and venueof the seminar. For this a seminar convener may be selectedfrom the students.

7. Seminar paper presentation

The student/students shall present the paper in the seminar.One of the students can moderate the seminar. In initial stagesthe teacher may moderate the seminar.

8. Discussion / Interaction

A panel of respondents from the students makes comments onthe topic. This will be followed by a general discussion.

9. Summing up the deliberations

The moderator sums up the deliberations

10. Evaluation/ Feed back

Both teacher and students evaluate the programme.

11 Preparation of final report

It should contain all the points covered in the seminar alongwith the additional points discussed and consolidated.Individual report is needed.

46 Business Studies

4. Debate

Debate is one of the effective learning strategies for commerce classes.It is based on the modern psychological concept of socialconstructivism. Debate is a creative and collective process of elicitingall related facts of a topic. It also enables the participants to enrichtheir knowledge through healthy dialogues. In a debate, there willbe minimum two groups and a moderator. The skills of criticalthinking, positive interaction etc of the students can be developedthrough this learning method. It avoids stage fear of students andenhances substantiating abilities of the learner.

Stages

1. Topic Selection

The topic of the debate should be relevant and having potentialfor different viewpoints.

2. Selection of panels

At least two panels of students may be selected to argue forand against the topic. Special care should be taken to select thestudents keeping balance with their individual differences likeintelligence, gender, social status in the class. (The ideal numberin a panel may vary from three to five)

3. Selection of a moderator

A student representative should be selected to moderate thesession where as the teachers will act as a guide. In the initialstages teacher may act as the moderator.

4. Collection of information

The panel of students should be guided by the teachers to collectas enough information from news papers, Magazines, Websites,Govt. reports, TVs, Radios etc.

5. Conducting the debate

The teacher acts as overall guide and student representative asmoderator will facilitate the debate. Both the panels can raisetheir views and arguments on the topic. The rest of the studentscan participate as observers. They can make interventions topresent their views only with the permission of the moderator.


The moderator should be well aware of all the aspects of topicbut should take an impartial and independent position. Heshould be able to inspire the panels to elicit as muchinformation as possible and in case of necessity from theobservers also. The moderator should take special caution tocontrol and avoid any sort of personal conflicts.

6. Conclusion

The Moderator should conclude the debate by expressing hisfinal version based on the views evolved from the debate. Thenthe teachers can make his/her observations comments andsuggestions.

5. Field trip/ Study tours

Field trip provides direct and contrived experience to the learners.It is based on the principle that ‘Seeing is better than hearing’ It givesan opportunity to students to observe the real life situation of thetopic. It also enables the students to retain the learning longer andto make the topic more interesting. For instance, visiting industrialunit. e.g. MILMA would enable students to know differentproduction processes, functional divisions, levels of management,product diversification, marketing strategies, accounting process,packaging etc.

Both field trip and study tours give an opportunity for the studentsto understand the real life situation. However there is slightdifference between these two. Field trip is a short visit to a localarea with a specific purpose. On the other hand study tour is a tripwith more than one objective. It requires extensive planning andpreparations.

Stages

1 Selection of venue

2 Getting permission from concerned organisation.

3 Planning and Scheduling of the trip – which consists ofpreparation of tool for study whom to be introduced date,time, expenses etc.

4 Assigning task to the group leaders

48 Business Studies

5 Actual visit

6 Monitoring the visit by the teachers

7 Reporting

8 Evaluation

Brain storming

Brainstorming is one of the best methods of creative problemssolving. It facilitates generation of ideas quickly. It stimulates freshideas and enables participants to break loose from fixed ways ofresponding to problems.

Brain storming Rules

1 No response is wrong

2 Welcome as many responses as possible, quantity isrequired

3 Every response is accepted without discussion or judgment

4 No criticism is allowed

5 Allow to work on others idea

Once brainstorming has elicited quantity sufficient number ofresponses, the students may be guided to use their analytical andsynthesing skills to determine best ideas.

Steps in brain storming

The following steps may be used to run a brain storming session

1 Presentation of the problem

2 Provide relevant information

3 Record the ideas put forth by the participants

4 Combine similar ideas

5 Evaluate each idea/solution

6 Selection of the best solution

It is important to note that the last step is not an essential part inbrainstorming when it is used as an instruction strategy.


Discussion

Discussion is a strategy in which students learn by sharingexperiences and opinions with each other. The teacher has tocarefully plan the lesson to reach desired learning outcomes andguides the discussion through questioning and summarizing. Thegroup interacts in response to questions. The flow of communicationcan be smoothened among all the learners.

Organisation of Discussion

The following stages are involved on the organisation of discussion.

1 Introduction

It should be initiated by the teacher. As much as facts andfeatures that can be elicited should be drawn

The topic for discussion may be pinpointed and the keyareas are to be developed

2 Development

In this stage the teacher can use

• Lead points

• Follow up interactions

3 Transitions

In this stage, the key points may be reviewed. Participationof all learners may be ensured.

4 Summarisation /Conclusion

At this stage teacher may provide additional supportmaterial to ensure the achievement of the objectives.

Role Play

In role-play the students have to project themselves into simulatedinterpersonal situations and act out the part of the persons and

50 Business Studies

situations assigned to them. It is a very useful strategy to developinterpersonal skills and strengthen learning in identified areas.

Practical Work

Knowledge about business process, procedures and practices is vitalfor students of commerce. A student has to supplement hisclassroom learning with field work and practical. For example,practical knowledge about the procedure for setting up andregistration of a small scale unit, for raising medium term loan froma financial institution, for registration of brands, for importingequipment and machinery etc. is a test of one’s proficiency inBusiness studies. It can be acquired through interaction with experts,field visit, analysing application forms observation role play andprojects. Practical work helps the students in gaining this knowledgeand experience. The student has to collect the knowledge anddocument it along with all the specimens, forms etc. in blank. Itwill make his learning current and purposeful. Acquainting studentswith numerous advantages of computerised accounting and theirapplication in business also form part of practical work in the fieldof accounting. Practicals based on each unit should be given to thestudent and make them to record in a book, following the steps suchas input, processes, output.

Case study

A case may be a person, institution or a community.

Case study is an indepth analysis of an actual event or situation. Itpresents real pictures of situations with facts, objective informationor data. Learners analyse the case to interpret, predict and revolveissues associated with it. The case study provides the learner anopportunity to analyse and apply concepts, data and theory taughtfrom the class. Learners can work individually or in groups.

By studying realistic cases in the classroom, students develop newinsights into the solution of specific on-the-job problems and alsoacquire knowledge of the latest concepts and principles used inproblem solving.


Case may be presented by the teacher or may be provided in printform. A simple case study may have the following steps.

• Collection of data

• Conversion of data into information

• Analysis of the case in groups

• Presentation of the findings by each group leader

• Evaluation

Collections

Collection is continuous learning activity which ensures studentsparticipation and involvement in whole. In commerce, collectioncan be of pictures, brochures, advertisements, ideas, documents etc.Collection of materials provides direct experience to learners. Anexhibition can be conducted to display the collected materials whichstrengthen various concepts among learners.

In addition to the above mentioned learning strategies, there aremany other learning strategies which can be used in appropriatesituations to enrich learning process such as interview, problemsolving etc.

Learning Resources

1. Bulletin Board

Bulletin board is a device that display news cuttings, posters, articles,paintings advertisement copies, leaflets etc, collected by the studentsthat has relevance to Commerce. Bulletin board is very suitable forpasting announcements and assignments. Students themselvesshould be made in charge of the bulletin boards and the teachershould only act as a guide. The skill of information gathering anddissemination can be achieved through this activity.

2. Library

Library is a resource centre which provide information to the

52 Business Studies

students through secondary devices namely text books, referencebooks, journals, magazines, newspapers, internet etc. If assignmentsincluding solution to problems are carefully given work in the libraryfor their completion will develop desirable reading habits amongstudents. It creates reading habits among students and enable themto better utilise leisure time in the School.

3. Club

Club helps to develop the potential skills, capabilities andknowledge of the students. It enhances the team building process,collective and participatory learning, promote innovative ideas,enrich the existing knowledge, and develop interactive skills enableorganisational and leadership qualities.

Activities

1 Conducting commerce and management quiz

2 Conducting essay competitions on commerce topics andcurrent affairs

3 Conducting invited lectures/ seminars of professionals,academicians, industrialists, educationalists etc.

4 Conducting debates on contemporary topics with activeparticipation of students.

5 Conducting exhibitions on commerce.

6 Conducting study trips to industrial units, businessestablishments, financial enterprises, business schools.

4. Activity Log in Business Studies

Activity log is a record of activities undertaken by the students aspart of the learning process. The students should record the wholelearning process, the problems encountered during the learningprocess, possible courses of action, constraints and difficulties,innovative ideas etc. The teacher should periodically verify andreview the activity log maintained by the students and makenecessary comments and suggestions.


Teacher Text of Business Studies

The teacher text is aimed at helping the commerce teacher in thetransaction of the new curriculum.

• makes clear the learning outcomes.

• contains the minimum package of learning activities.

• provides guidelines for planning the activities.

• provides hints for assessment during the learning processand at the end of a period.

• stimulates teacher’s thinking.

54 Business Studies

Syllabus

Part A: PRINCIPLES AND FUNCTIONS OF MANAGEMENT

Unit 1 : Nature and significance of Management (12 Periods)

1.1 Management - concept, objectives and importance

1.2 Management as Science, Art and Profession.

1.3 Levels of management

1.4 Management functions - planning, organizing, staffing, di-recting and controlling.

1.5 Coordination - concept, characteristics and importance

Unit 2: Principles of Management (12 Periods)

2.1 Principles of Management - concept, nature and significance

2.2 Fayol’s principles of management

2.3 Taylor’s Scientific Management - principles and techniques

Unit 3: Management and Business Environment (10 Periods)

31 Business Environment - concept and importance

3.2 Dimensions of Business Environment - Economic, Social,Technological, Political and Legal

3.3 Impact of Government policy changes on business withspecial reference to liberalization, privatization andglobalization in India

Unit 4: Planning (14 Periods)

4.1 Concept, importance and limitations

4.2 Planning process

4.3 Single use and Standing Plans - Objectives, Strategy, Policy,Procedure, Method, Rule, Budget and Programme

Unit 5: Organizing (14 Periods)

5.1 Concept and importance.

5.2 Organizing Process.

5.3 Structure of organization - functional and divisional.

5.4 Formal and informal organization.


5.5 Delegation: concept, elements and importance.

5.6 Decentralization: concept and importance.

Unit 6: Staffing (16 Periods)

6.1 Concept and importance of staffing

6.2 Staffing as a part of Human Resource Management

6.3 Staffing process

6.4 Recruitment - sources

6.5 Selection - process

6.6 Training and Development - Concept and importance.

6.7 Methods of training- on the job and off the job- Inductiontraining, vestibule training, apprenticeship training andinternship training

Unit 7: Directing (17 Periods)

7.1 Concept and importance

7.2 Principles of Directing

7.3 Elements of Directing

7.4 Supervision - concept, functions of a supervisor.

7.5 Motivation - concept, Maslow’s hierarchy of needs;

7.6 Financial and non-financial incentives.

7.7 Leadership - concept, styles - authoritative, democraticand laissez faire.

7.8 Communication - concept, formal and informalcommunication;

7.9 Barriers to effective communication, how to overcome thebarriers.

Unit 8: Controlling (12 Periods)

8.1 Concept, nature and importance

8.2 Limitations of Controlling

8.3 Relationship between planning and controlling

8.4 Steps in the process of control

8.5 Techniques of managerial Control- Traditional techniquesand Modern techniques

56 Business Studies

Part B: BUSINESS FINANCE AND MARKETING

Unit 9: Financial Management (22 Periods)

9.1 Concept and objectives of financial management.

9.2 Financial decisions: investment, financing and dividend andfactors affecting.

9.3 Financial planning - concept and importance.

9.4 Capital Structure - concept and factors affecting.

9.5 Fixed and Working Capital - concept and factors affectingtheir requirements

Unit 10 : Financial Markets (18 Periods)

10.1 Financial Market- Concept and Functions

10.2 Money Market Meaning and Instruments

10.3 Capital Market- Primary market and Secondary market

10.4 Methods of flotation

10.5 Stock Exchanges- Meaning, functions, On-line trading,Trading and settlement proceedure

10.6 Demeterialisation and Depository

10.7 BSE, NSE, OTCEI

10.8 SEBI- Reasons for establishment, Purpose and role,Functions

Unit 11 : Marketing (32 Periods)

11.1 Marketing - concept and functions.

11.2 Marketing management philosophies.

11.3 Marketing Mix - concept

11.4 Product - concept, branding, labeling and packaging

11.5 Price - factors determining price.

11.6 Physical distribution- concept, channels of distribution:types, choice of channels.

11.7 Promotion -concept and elements; advertising- concept,role, objections against advertising, personal selling -


concept and qualities of a good salesman, sales promo-tion - concept and techniques, public relations - conceptand role

Unit 12 : Consumer Protection (12 Periods)

12.1 Concept and importance of consumer protection.

12.2 Consumer Protection Act 1986

12.3 Meaning of consumer and consumer protection.

12.4 Rights and responsibilities of consumers

12.5 Who can file a complaint and against whom?

12.6 Redressal machinery.

12.7 Remedies available.

12.8 Consumer awareness - Role of consumer organizations andNGO's

Unit 13 : Entrepreneurship Development (17 Periods)

13.1 Concept of Entrepreneurship

13.2 Characteristics Entrepreneurship

13.3 Entrepreneurship Vs Management

13.4 Functions of entrepreneurs

13.5 Process of setting up an enterprise.

13.6 Entrepreneurial competencies

13.7 Entrepreneurial motivation

13.8 Entrepreneurial values and attitudes

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Learning Outcomes

The Learner will be able to:

1. NATURE AND SIGNIFICANCE OF MANAGEMENT

1.1 Describe the concept of management

1.2 Explain the characteristics of management

1.3 Appreciate and explain the various objectives and importanceof business

1.4 Describe the nature of management as art, science andprofession.

1.5 Categorizes various positions of an organisation into differentlevels of management and their functions

1.6 Explain the different functions of management.

1.7 Analyse the nature and importance of coordination

2. PRINCIPLES OF MANAGEMENT

2.1 Explain the meaning and importance of principles ofmanagement

2.2 Describe the principles of scientific management

2.3 Explain the techniques of scientific management

2.4 Evaluate the need for application of various techniques ofscientific management in business organisation

2.5 Identify and explain Henry Fayol’s principles of management

2.5 Explain the differences between Fayol and Taylor’smanagement

3. BUSINESS ENVIRONMENT

3.1 Explain the meaning and features of business environment.

3.2 Illustrate the importance of environmental scanning for abusiness.

3.3 Classify the various factors affecting business firms intodifferent dimensions.

3.4 Examine the economic environment in India

3.5 Explain the challenges faced by Indian business sectors in thecontext of new economic policy.


4. PLANNING

4.1 Explain the meaning and the importance of planning

4.2 State the features of planning

4.3 Describe the limitations of planning

4.4 Explain the different steps involved in the planning process

4.5 Identify and explain the different types of plans

5. ORGANISING

5.1 State the meaning and process of organizing and itsimportance

5.2 Identify the different types of organisation structure

5.3 List out the advantages, disadvantages and suitability ofdifferent types of organizational Structure

5.4 Differentiate between functional and divisional structure oforganisation

5.5 State the meaning and features of formal and informalorganisation

5.6 Outline the meaning, advantages and limitations of formaland informal organisation

5.7 Distinguish between formal and informal organisation

5.8 Explain the meaning and importance of delegation ofauthority

5.9 Describe the meaning and importance of decentralisation

5.10 Distinguish between delegation and decentralization

6. STAFFING

6.1 State the meaning and importance of staffing

6.2 Recognise the relationship of staffing with HumanResource Management

6.3 Explain the different stages in the staffing process

6.4 Identify and explain the different sources of recruitment

6.5 Explain the advantages and disadvantages of internal andexternal sources of recruitment

6.6 Describe the different stages in selection process

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6.7 Explain the meaning of training and development

6.8 List out the importance of training

6.9 Outline the different methods of on-the job and off-the jobtraining.

7. DIRECTING

7.1 State the meaning and importance of directing in businessorganization

7.2 Outline the different elements in the process of directing

7.3 Explain the meaning of supervision and its importance

7.4 Describe the importance of motivation in all types oforganization and by stating its meaning

7.5 Apply Maslow’s need hierarchy theory for motivating theemployees of an organization

7.6 State the financial and non-financial incentives throughwhich mangers motivate their employees

7.7 Explain leadership and its importance as an element ofdirecting

7.8 Identify the qualities of a good leader

7.9 Describe the meaning and importance of formal andinformal communication in the organization

7.10 Identify various barriers of effective communication

7.11 Suggest measures to overcome the barriers ofcommunication in an organization

8. CONTROLLING

8.1 Explain the meaning and importance of Controlling

8.2 State the importance of controlling

8.3 Identify the limitations of controlling

8.4 Distinguish between planning and controlling

8.5 Illustrate the steps in the controlling process

8.6 List out the traditional techniques of managerial control


8.7 State the modern techniques of managerial control

9. FINANCIAL MANAGEMENT

9.1 State the meaning and importance of financial

management

9.2 List out the different financial decisions and factors

affecting them

9.3 Evaluate the importance of financial planning

9.4 Explain the concept of capital structure

9.5 Identify the factors affecting capital structure

9.6 Differentiate fixed capital and working capital

9.7 Identify the factors affecting working capital and fixed

capital

10. FINANCIAL MARKET

10.1 Explain the concept of financial Market and its functions

10.2 State the meaning of Money Market

10.3 Recognize the features of different types of money marketinstruments

10.4 Explain the concept of capital market

10.5 Distinguish between money market and capital market

10.6 Identify primary market and secondary market

10.7 Distinguish primary market and secondary market

10.8 Understand the need and procedure to explain how toopen a demat account and the trading of securities takesplace

10.9 Describe the process of dematerialization

10.10 Identify major Stock Exchanges by explaining their features

10.11 Describe the functions of SEBI

11. MARKETING

11.1 Identify the meaning of market and marketer

11.2 Explain the meaning and features of marketing

11.3 Clarify the scope of marketing management

11.4 Distinguish marketing from selling activities

11.5 Compare different concepts or philosophies of marketing

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11.6 List out important functions of marketing

11.7 Examine the role of marketing in the development ofindividual business firms as

well as the economy

11.8 Classify products in to different categories

11.9 Distinguish generic name, brand name, and trade mark

11.10 Explain the advantages of branding products

11.11 Discuss packaging and labeling as important elements ofproduct mix

11.12 Explain the factors affecting price determination

11.13 List out different channels of distribution and elements ofphysical distribution

11.14 Examine the role of advertising in marketing

11.15 Explain the importance of personal selling in marketing

11.16 Distinguish personal selling from advertising

11.17 Describe commonly used sales promotion activities

11.18 Explain the role of publicity and public relations for successof a business

11.19 Distinguish publicity from advertising.

12. CONSUMER PROTECTION

12.1 State the importance of consumer protection

12.2 List out the laws under Indian legal framework forprotection to consumers

12.3 Explain various consumer rights and responsibilities

12.4 Describe the ways and means of consumer protection

12.5 Explain the three-tier enforcement machinery for consumerprotection under the Consumer Protection Act

12.6 Describe the role of consumer organizations and NGOs inprotecting consumer interests

13. ENTREPRENEURSHIP DEVELOPMENT

13.1 Explain the concept and characteristics ofentrepreneurship


13.2 Distinguish between entrepreneurship andmanagement

13.3 List out various functions performed by entrepreneursin relation to general economic development andindividual organizational development

13.4 Describe the process of setting up an industrialenterprise

13.5 Identify the entrepreneurial competencies needed for asuccessful entrepreneur

13.6 Explain different elements of entrepreneurialmotivation

13.7 Identify the values and attitudes required for successfulentrepreneurship

64 Business Studies

Scheme of Work

Unit Term Units Periods weight

in scores

1 Nature and significance ofManagement 12 5

2 Principles of Management 12 63 Business Environment 10 44. Planning 14 55. Organising 14 5

6. Staffing 16 87. Directing 17 108. Controlling 12 49. Financial Management 22 910. Financial Markets 18 5

11. Marketing 32 1212. Consumer Protection 12 413. Entrpreneurship Development 17 3

Total 208 80

Term 1 June, July, August

Term 3 January, February

Term 2 September, October, November, December

Nature and Significance of

ManagementUnit - 1Unit - 1

Introduction

The term management has to be perceived from different

dimensions, in this era of technological advancement and

at a time when the world is moving towards newer

concepts like 'global village'. It is applicable not only to

all business organisations or institutions but also in every

walks of life. The above given description establish the

fact that how significant is the concept of management

and its functions.

Values and Attitudes

Students should inculcate a quality of managing anything andeverything positively in life.

66 Business Studies

Process/Activity

with assessment

Periods 12

Learning

outcomes

Concepts/

Ideas

Management - Con-cept

- Meaning

Characteristics ofManagement

Objectives and im-portance of Manage-ment

Students will be ableto:

Describe the con-cept of management

Explain the charac-teristics of manage-ment

Suggested strategy: Case Study / Interview /• Students can be provided with a case study

of a student who is successful incurriculuar and co-curricular activities.

• Alternatively interview of a successfulentrepreneur in a nearby locality can alsobe made use of.

Assessment:Teacher Assessment

Skill :Communication, interaction, Analytical

Suggested strategy : General Discussion• A general discussion can be initiated as a

follow up activity of the above case studyAssessment: Teacher AssessmentSkill: Communication, Creative thinking, Analysis

Suggested Strategy: Brain storming anddiscussion

• Students are brain stormed with intriguingquestions for eliciting different objectivesof management followed by a discussionto tap its importance

Assessment: Self AssessmentSkill:Comparison, Differentiation, Creativethinking, divergent thinking

UNIT FRAME


Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

Nature of manage-ment - Art - Science - Profession

Levels of Manage-ment - Top level- Middle level- Supervisory (Lowerlevel)

Functions of Man-agement-Planning-Organising-Staffing-Directing-Controlling

Coordination - Its characteristicsand importance

Describe the natureof management asart, science and pro-fession.

Categorize variouspositions of anorganisation into dif-ferent levels of man-agement and theirfunctions

Explain the differentfunctions of man-agement.

Analyse the natureand importance ofcoordination

Suggested strategy: Group Discussion• Students are grouped into three and asked

to identify the specific features of art,science and profession. The job is assignedto each group separately.

• Features are then linked to the concept ofmanagement

Assessment: Peer AssessmentSkill: Differentiation, comparison, Analysis

Suggested Strategy: Group discussion• A case analysis can be given on authorities

and functions of various people workingin different capacities in a businessorganisation

Assessment: Teacher AssessmentSkill: Analysis, Differentiate, comparisonSuggested Strategy: Case Analysis• For eliciting different functions of managers

in a business organisation, teacher canprovide a case study in groups

Assessment: Teacher AssessmentSkill:Communication, Interpretation, ComparisonSuggested Strategy: General discussion/ Brain storming• Citing examples of brain coordinating

various organs of a human body andcomparing this with a business organisationa general discussion can be initiated.

Assessment: Teacher AssessmentSkill:

Coordination, Effective communication,Interpersonal relation

.

68 Business Studies

1. Management - Meaning and Concept

Suggested Strategy: Case study

Sabu is a student of plus two who belongs to a middle class family.

He outperforms at school in both academic and co curricular level. Do youthink that is it because of his hard work and efforts alone?

After posing the case, the students are asked to list out the factors leading tohis success through an analysis of the case in groups.

Having presented their views, the teacher consolidates as follows

You know that it is largely because how his activities are directed, managedand controlled

In a nutshell you can experience the quality of management by your parentsand teachers as well. Thus your success depends upon how you aremotivated, directed and controlled. All these activities are inherent in themanagerial functions. Wherever you find a group activity, they have somegoals in common. In order to achieve these goals, there exists some form ofmanagement.

Activity: 2

Let us list out certain well known companies as below:

• Infosys

• HCL

• Wipro

• TCS

• RIL

•

•

They are world reputed and highly rated companies in terms of quality ofservice, customer care, ethical standards, and corporate responsibility

Have you ever thought of how they have achieved all these?

Is there any powerful source behind the success of these corporate?

The case is given for group discussion.


Consolidation

Behind this achievement, there were a group of hands whose efforts and sacrificescannot be explained in a few words. The success of any organisation depends uponeffective management.

From the above illustrations, what do you understand by the concept ofmanagement?

Management is the process of getting things done through others with theaim of achieving goals effectively and efficiently.

Check list for Assessment:

Attributes Yes /No Total correct Total wrong

answers answers

a. Management is getting thingsdone through others

b. .......means doing the taskcorrectly and with minimumcost Efficiency / Effectiveness

c. Functions of managementincludes?

2. Characteristics of management

Suggested Strategy: General discussion

A general discussion on the following is initiated as a follow up activity ofthe above

Discussion Points:

• Why sabu has been a good performer at school? Or why the abovementioned companies have been successful?

• Do you think that managerial functions are performed at school orcorporate levels alone?

• Is the technique of management applied on people alone? How doyou respond to it?

• If sabu was controlled and directed in his activities only once ortwice in his school or life could he become successful in his studies?

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Discussion can be wrapped up by narrating the important characteristicfeatures of management which is as follows:

• Goal oriented process

• Pervasive function

• Multidimensional

• Continuous Process

• Group activity

• Dynamic function

• Intangible force

In essence, the purpose of management is to carry out the tasks needed toenable the business to reach its goals. Although highly complex in manyways, management can be reduced to relatively small number of fundamentalideas and concepts which are part of all business, no matter where thebusiness is or what kind of business it is.

Check list for assessment

Attributes 4 3 2 1

Involvement in class:

a. Clearing doubts

b. Generating discussion

c. Activities

d. Response to queries

3. Objectives and Importance of management:

Suggested Strategy: Brain storming and discussion

The power of management lies how an organisation attains its stated goals.No matter whatever be the entity, management has its own goals which arevaried and numerous.

The students are required to name the goals that are found most appropriatein terms of the following entities


Activity: 3

1 The goals in which organisation thrives to attain throughout its life cycle ?

2 When the organisation seeks to fullfill the obligationstowards the society it may be referred to as ?

3 When the organisation seeks to satisfy the goals ofpersons who are attached with the organisation it maybe called as ?

The above discussion can be consolidated in the following lines:

An organisation will have different objectives namely, organisational, socialand personal or individual. The management is important for achieving allthese objectives in an efficient and effective manner. The following points ofimportance are stressed.

• Helps in achieving group goals

• Increases efficiency

• Creates a dynamic organisation

• Helps in achieving personal objectives

• Helps in development of society

Self Assessment

Students Date Time What I did Remarks

St.1

st.2

St.3

St.4

St.5

4. Management as an art, science and profession:

[Nature of Management]

Suggested Strategy: Group discussion

Variety of examples can be cited to elicit the features of art, science andprofession.

72 Business Studies

When we talk about artists in any field, there are a few persons whose namesrush into our minds.

• Can you tell the names of a few artists?

• Why do you prefer to tell such names?

• How have they been famous?

•

From the above discussion points, they are required to report in a few wordson the meaning and characteristics of art. The management is said to be anart if this specialised knowledge is applied in management. The key featuresare

• Existence of theoretical knowledge

• Personalised application

• Based on practice and creativity

In order to convey the concept as a science the following tips are given ingroup.

• When a stone is thrown up in the air, it falls down, why?

• If you mix two atoms of hydrogen and oxygen, what will happen?

• How these principles are evolved?

•

Discussions on the above lines will get you to the features of science whichare as follows:

• Systematised body of knowledge

• Based on experimentation

• Universal validity

Similarly, the above discussion is continued on the profession as well.

Suppose, you are not well, whom do you consult?

• Can you name out some other professional?

• Who can be a professional?

•

The above hints are given for discussion bearing the following points toyour memory.

• Equalisation

• Training

• Remuneration

• Membership etc.


Consolidation:

Management is a dynamic subject and can be seen from different dimensionsand has several connotations. Since management consists of the componentsof specialised knowledge and skills it is regarded as an art. At the same time itestablishes cause and effect relationship at every level it is also be treated asscience.

Management even though does not satisfy all requirements of a professionbut at the same time it meets most of the above criterion, and it is widelyaccepted as a profession.

Peer Assessment

Attributes St1 St2 St3 St4 St5

Participation in discussion

Generation of ideas

Logical thinking

Leadership drives

Attainment of concept

5. Levels of Management

Suggested strategy: Group discussion

The following activity is given in groups.

Activity: 4

List out the positions of the following persons in terms of their ranks ashigh, middle or lower

At Home Father / Mother Higher

Principal ?

At School Teacher ?

Peons ?

Manager ?

In a Bank Chief Accountant ?

Clerk ?

74 Business Studies

• At home who takes important decisions?

• At schools, who makes the important decisions and policies?

•

In the context of a company too, there are a group of persons who take careof these managerial functions. They can also be classified under differentlevels. Usually, they are classified under three levels

a. Top Management

b. Middle level Management

c. Lower level Management

At this point, a general discussion on the above levels and the functionsperformed by different persons at different levels are to be brain stormed

As a follow up of the above the activity given below is provided.

Activity: 5

Functions of different levels of management are given in the table. Identifythe level of management who performs these functions

Functions performed Level of Management

a Integration of different elements andCoordination of activities of differentdepartments ?

b Implemenation and controlling of plansand strategies ?

c Assigning duties to workers ?

Students are given necessary key points for discussion leading to thefunctions performed by different levels of management as mentioned above.

6. Functions of Management

Suggested Strategy: Case study

Anil and Arun are on for venturing a building work on behalf of Biju. Thisbeing a heavy project for them, Anil is of the opinion that unless we plan theactivities with utmost care the mission will be a failure. Let us hear theirconversation now.

Arun: What should we plan? What I mean is the various aspects involved inthis context.


After discussion on the point, Arun continued.

Is planning alone enough to make our endeavour a success?

Anil: No. Now we have to decide the various activities involved and decidewhom the work has to be entrusted and also to fix the authority, responsibilityetc, wherever a division of work exists.

Arun: Then what else?

Anil: After organising our activities in the above manner the next emphasisis upon seeking the necessary work force (Staffing)

Arun: After manning, they are to be properly directed no? What aboutcommunication on the things to be done by the work force and they shouldbe motivated also?

Anil: Yes, of course, this is to be done. They have to be motivated and leadproperly. Last but not the least, one more important aspect is that we shouldsee whether they do things in accordance with the plan established.

From the above discussion,

• What do you understand by the functions performed by a manager?

•

After discussion in the groups the following activity is also provided

Activity: 6

Suggest an appropriate management function for the statements givenbelow:

a. Thinking in advance the future course of action? ?

b. Harmonious adjustment of various elements toacheive common objectives ?

c. _______refers to filling the post with people ?

d. Instructing, guiding, communicating and inspiringpeople in the organisation ?

e. It refers to bringing the actual results closer to thedesired results ?

Consolidation should be in the following manner:

In every organisation managers has to perform the following basic functions:

• Planning

• Organising

76 Business Studies

• Staffing

• Directing

• Controlling

7. Coordination - Meaning, Characteristics and Importance:

Suggested Strategy: General discussion / Brain storming

• Do you know the activities or functions of a business?

• Producing

• Financing

• Marketing

• Staffing

Suppose, the production manger of a firm, without consulting the marketingmanager or financial manager, has decided to produce 10,000 units of aparticular product.

• Will the plan of the production manager work in the above context?

• If not, Why?

The students are given a challenging situation why the plan cannot work.After discussion and presentation of their ideas, the teacher can consolidatethe points on the meaning and importance of coordination by emphasisingthe following.

"The activities performed by various people working in a businessorganisation are inter- dependent upon each other. The objectives of abusiness organisation can be achieved efficiently and effectively only if, theefforts of various people involved are properly coordinated. Consideringthe above facts management has to concentrate its efforts on the establishmentof coordination at all levels of management".

Assessment

Attributes 4 3 2 1 Remarks

Mindset

Engagement

Clarity of concept

Judgement

Analysis and conclusions

4 - Highly Effective; 3 - Effective; 2 - Need improvement; 1 - Does not meetstandards


Repository of CE Possibilities

Process Portfolio Unit Assessment

• Case study onmeaning and conceptof management

• General discussion onthe characteristics ofmanagement

• Group discussion andbrain stroming on theobjectives andimportance ofmanagement

• Group discussion onthe nature ofmanagement

• Group discussion onthe levels ofmanagement

• Case analysis onfunctions ofmanagement

• Group discussion andbrainstorming oncoordinations and itsimportance

• A practical defition onthe meaning ofmanagement

• Report oncharacteristcs ofmanagement

• List containingobjectives ofmanagement

• Notes showing theimportance ofmanagement

• Notes on features ofarts and science

•Notes showingmangement isprofession

• Chart showing levelsof management andvarious functions

• Table showingfunctions ofmanagement and itsdescriptions

• Notes onCoordination, itscharacteristics andimportance

• Unit Test

78 Business Studies

TE Questions:

1. Name that intangible force which creates productive relationships inan organisation?

2. A company builds old age homes for people who comes under belowpoverty line and provides good living conditions to them. Identify themanagement objective the company is trying to achieve?

3. The HR manager of a company is promoted as senior vice-president.

a. Identify the level of management to which he is promoted?

b. State the functions he has to perform at that level?

4. Abc Ltd., a manufacturer of consumer goods has started facing a lot ofproblems recently. Profits are declining. Every department is blamingeach other for lapses.

a. What quality of management is lacking in the above company?

b. What steps do you think that company should take to improve thesituation?

5. Nokia mobiles intend to regain its lost glory by introducing a newandroid mobile phone.

a. Which all levels of management do have to participate in thisprocess?

b. What decision should each level of management take to give effectto this decision?

Principles of

ManagementUnit - 1Unit - 2

Introduction

The success of any group activity depends upon how

effectively the perspectives of management are used. These

principles have universal applicability whatever be the

nature of the organization. A basic knowledge of

management principles will help the organsations to

achieve their goals.


Apply the principles of management in daily life for achievingefficiency and effectiveness in all activities and tasks.

80 Business Studies

Process/Activity

with assessment

Periods 12

Learning

outcomes

Concepts/

Ideas

Principles of Man-agement

- Meaning

- Nature and sig-nificance

Scientific Manage-ment principles


• Explain themeaning of prin-ciples of man-agement

• Describe theprinciples of sci-entific manage-ment

Suggested Strategy: General discussion• Provide examples to understand the

nature of management principles.

• Provide inputs to differentiateprinciples and techniques and principlesand values

• A case analysis is done to elicit thenature of principles of management.

Assessment:• Contribution of useful ideas• Understanding of concept• Notes on importance of management

principlesSkills:• Communication, Interaction, creative

thinking, Differentiation

Suggested Strategy: Case Study anddiscussion

• Input the students with different cases -One with following scientific methods toimprove productivity and another onconventional style having no principlesapplied.

Assessment:• Attainment of concept• Involvement in discussion• Report on case studySkills:• Communication, Critical thinking, Co-

ordination, PresentationAssessment:Peer AssessmentSkill:

Communication, Critical thinking, Co-ordination, Presentation,

UNIT FRAME


Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

Technique of Scien-tific Management

Fayol's Principles ofManagement

Fayol Vs TaylorA comparison

• Explain the tech-niques of scien-tific manage-ment

• Evaluate theneed for applica-tion of varioustechniques of sci-entific manage-ment in businessorganisation

• Identify and ex-plain HenryFayol's prin-ciples of man-agement

• Explain the dif-ferences be-tween Fayoland Taylor'smanagement

Suggested Strategy: Case study• Case study is given to elicit the various

techniques of scientific management• List out and prepare notes on the various

techniques of scientific management

Assessment:• Involvement in case study and discussion• Attainment of concept on the techniques

of scientific managementSkill:• Identification, Interaction, Effective

communicationSuggested Strategy: Case study/ Roleplay/ Discussion• Brain storm with challenging questions to

elicit the applicability of the scientificmanagement

• Case analysis must be carried out to evokeresponses on various principles ofmanagement

• Prepare a PPT on the 14 principles ofmanagement

Assessment:• Active participation• Presentation skills• Logical thinking• Problem solvingSkill:• Logical thinking, Creative thinking,

Communication, Divergent thinking,Evaluation, Interpretation

Suggested Strategy: Group Discussion

• Initiate a discussion to compare betweenFayol and Taylor's principle ofmanagement

• Prepare a table showing the points ofdifferences

Assessment:• Ability to analyse• Ability to reasonSkill:• Comparison, Communication, Evaluation,

Differentiation, Inference

82 Business Studies

1. Fayols' Principles of Management:

Suggested Strategy : Case Study - Phase - 1

Anila and Aruna are on the move to set up a BPO. Having completedthe formation of the company they were about to commence its operations.The unwieldy size of the organization comprising of numerous and variedactivities may cost even to a standstill and shut down in the near future. Inorder to survive such pitfalls they have initiated certain arrangements asfollows:

• The entire organization has to be classified into various departmentsaccording to their respective functions and each department has tobe engaged with suitable persons with departmental heads underthem. [The departments are production, marketing, HR, finance, etc.]

• They have also established a relationship ranging from top to bottomand the management was very strict regarding the path ofcommunication. Because they wanted their subordinates to bewholly responsible for their deeds.

Discussion Points:

• What do you think of the benefits that shall be accrued to the firm, ifthe activities are classified as above?

• Who are at the top in respect of authority?

• Can you see this throughout the organization?

• Was there a free flow of communication? or prescribed channels forthe purpose?

Teacher consolidates the discussion on the following aspects:

• Division of work

• Authority and responsibility

• Scalar chain

Phase - 2

The company has put up a notice board on which the rules andregulation has been laid down. There was also strict warning that equipmentsand weapons after use must be kept at the proper place where it has to be. Itis equally applicable to workers too.


• Despite of the positions and ranks to which they belong, themanagement always welcomes the bright and creative ideas of theworkers.

• Why does the company framed the rules and regulations? Will it bebeneficial? If so in what manner?

• Why the men are encouraged to contribute innovative ideas? Willit be beneficial? How?

• Why does the management want its men and materials in the properplace?

Teacher consolidation with stress on the following:

• Discipline

• Initiative

• Order

Phase - 3

On the inauguration day, amidst celebrations the employees were promised that

• Everybody shall be guaranteed fair pay and incentives.

• There shall be only one boss to each subordinates and have to beresponsible to that boss only

• The management shall neither be biased nor shall allow anyfavoritism instead all men are treated with fair justice and equity.

• You all will have the feeling of belongingness and oneness and themanagement will never promote divide and rule policy.

• The management will try its maximum to maintain each employeein the place where they have been appointed and never be allowedto work under unfamiliar situations

In return of the above promises the management hopes that you may evensacrifice your interest and your individual needs and wants, instead youwill uphold the interest, needs and wants of the organization as supreme

How do the above promises benefit the organization?

Teacher may give suitable discussion points to lead the discussion withdesired results like

• Fair remuneration

• Equity

• Esprit de corps

• Subordination of individual interest to general interest.

84 Business Studies

Teacher Input

While on discussion the students are to be familiarizedin exact terms which Fayol has aptly used. Thesediscussions can only lead to convince the facts andrealities behind these principles. But they can never comeup with the exact wordings which Fayol used.

Process Portfolio Assessment

• General discussion on the meaning,

nature and significance of mangement

principles

• Note on the meaning and importance

of principles of management

• Case study and discussion on the

scientific management and its

principles

• Notes on the scientific management

• Chart showing principles of

management

• Case study on techniques of sceintific

management

• Notes on the techniques of scientific

management

• Case study on Fayol's Principle of

management

• Report on the Fayol's principles of

management

•Group Discussion on Fayol Vs Taylor -

a comparison

•Table showing difference between

Taylors and Fayol's principles

Repository of CE possibilities

Unit Test

TE Questions:

1. Taylor designed some equipments and tools for workers to eliminateunnecessary movements at the floor level.

a. Identify the type of study mentioned above and explain?

b. Is this technique applicable to all levels of management? Giveyour views?

2. For improving the efficiency and performance and extension todivision of labour was mooted. Identify the technique and explain?

3. Explain the principle of management suggesting fairness in treatingemployees?


4. Management principles are said to be universally applicable.

a. Why it is said so? Explain its significance?

b. In your opinion, how do these principles are derived?

5. Taylor is of the view that the conflict among different classes ofworkers will not be beneficial to the organization.

a. Name the concept suggested by Taylor to overcome the aboveissue?

b. Explain the concept?

86 Business Studies

Business EnvironmentUnit - 1Unit - 3

Introduction

The success of a business not solely depends on its internal

management, but also on many external forces. These

external forces include consumers, other business firms,

Government, general economic conditions, laws and

regulations etc., which are beyond the control of business

management. Business has to monitor the changes

happening in the above external forces and adapt to these

changes for its survival. The external forces that influence

a business constitutes its environment. This chapter deals

with different dimensions of business environment and its

impact on the operations of business enterprises


One is supposed to ensure respopnsible use of resources bymonitoring the environment sensibly and thereby develop ahabit of smooth and painless adaptation.


Process/Activity

with assessment

Periods 10

Learning

outcomes

Concepts/

Ideas

1. Meaning and fea-tures of BusinessEnvironment

2. Importance ofbusiness environ-ment.

Students will be able to :-

• Explain themeaning and fea-tures of businessenvironment

• Illustrate the im-portance of envi-ronmental scan-ning for a busi-ness

Suggested strategy: General Discussion

• Initiates the discussion by asking aboutthe factors of family environment likeneighborhood and their influence in ourlife.

• Helps the students to identify variousexternal factors influencing a business.

• Cite examples of some recent changesin the field of trade and industry and itspositive and negative impacts.

• Concludes the discussion by listing thevarious features of businessenvironment.

Assessment: Teacher assessment.• Participation in discussion• Contribution of useful idea• Citing examples

Suggested strategy Case Study• Provide some cases which explain how

changes in the environment createopportunities and challenges to businessfirms.

• Each case may be discussed separatelyand students may be motivated to sharesimilar cases known to them.

• Concludes the session by focusing theterms 'environmental scanning' and'adaptation'.

Assessment: Teacher assessment.• Involvement in discussions• Answering lead questions• Sharing similar cases• Creative suggestionsSkills• Describe, Analysis, Comparison,

Classification

UNIT FRAME

88 Business Studies

Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

3. Dimensions of business environ-

ment.

4. Economic environ-ment

in India..

Classify the variousfactors affectingbusiness firms intodifferent dimensions

Examine the eco-nomic environmentin India.

Suggested strategy Group discussion• Recall the various factors of specific and

general business environment.• Assign each group with separate set of

factors of general environment such aseconomical, social, technological, politicaland legal.

• List out various factors coming under theallotted general environment and its impacton the success or failure of a business.

• On presentation teacher diagrammaticallypresent the 'elements of businessenvironment'

Assessment : Peer assessment.• Involvement in discussions• Presentation skills• Timeliness• Preparation of diagram.Skills

Communication, analysis, Initiative,Relate, Compare, Differentiate.

.Suggested Strategy: General discussion.• After recalling the various elements of

business environment students are askedto read 'crisis of 1991' given as boxinformation in the text book.

• Discussion firstly focuses on theeconomic policy immediately afterindependence.

• Second phase of discussion focus on thenew economic policy after 1991.

• On conclusion explain 'LPG' as the pillarof new economic policy.

Assessment : Self assessment.• Concept attainment• Recalling LPG• Leadership in discussions

SkillsComprehension,Comparison, Communication, apprising.


Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

5. Impact of Govt.policy

changes on Busi-ness

and Industry

Explain the chal-lenges faced by In-dian business sectorsin the context ofnew economic policy

Suggested strategy: Group discussion• Convenient groups are formed and

discussion is initiated by recalling theelements of new economic policy.

• Each group is asked to discuss thechallenges faced by Indian businessentrepreneurs resulting from the newGovt. policy.

• On presentation relevant points aboutthe impact of new policy on trade andindustry are emphasized

Assessment : Peer assessment.• Recalling NEP• Discussion in groups• Presentation• Highlighting relevant points

SkillsCritical thinking, Analytical Comparison,differentiation.

90 Business Studies

Importance of Business Environment

Suggested Strategy: Case Study

The fruits and vegetable markets in Kerala encountered a serious decline inthe sales volume, especially of fruits, during the months of March and April2015. In major centers, instead of 8-10 truckloads of fruits per day in theprevious year, only 3-4 loads per day were demanded during these months.The collapse of fruits market can be attributed to the news paper reportsabout the presence of pesticides in fruits and vegetables beyond permitablelimits especially brought from nearby states. It was reported that the fruitsand vegetables sold in the market contains inorganic substances up to 80-100 times than the permissible health limits. This emerging situation isadversely affecting the fruits and vegetable vendors. Most of them are underthe threat of closure of their units or trying to diversify their operations.

The products of organic farming have got more acceptance and fetches higherprices. People are ready to buy the pesticide-free fruits and vegetables evenat higher prices. Specialty shops dealing with organic fruits and vegetableswere opened in many centers. Residents’ associations devised schemes forterrace or roof farming using organic means of cultivation. In villages, joint-farming initiatives were picking up momentum by the assistance/participation of local self government. These measures joinly created greaterdemand for agro-bags, green houses, organic manures, organic seeds etc.

The Merchants Associations claiming that, the fruits and vegetables dealtby them are perfectly safe for consumption. But the pesticides controversyhas adversely affected the sale of both fruits and vegetables. The healthyfood habits are a burning topic in print media and subject to hot discussionin television channels.

Teacher asks the students to discuss the challenges faced by fruits stalls andthe new business opportunities emerging from the emerging situation. Thecase analysis may be based on the following lead questions-

• What are the new threats faced by fruits and vegetable stalls?

• What are the new business opportunities resulted from the organicfood habits of Keralites?

• How a firm can take early bird advantage from the new situation?

• How can these firms cope up with these changes?

The discussions may help students to analyze the impact of environmenton business firms.


On conclusion, teacher should emphasize on the need for environmentalscanning and adaptation.

Assessment: Teacher Assessment

Teacher may evaluate some selected students based on the given worksheet:-

Work sheet for teacher assessment

Indicators Excellent Good Average Need(2 score) (4- score) (3- score) Improvement

(1 score)

Participation indiscussions

Creativesuggestions

Sharing of similar cases

Answering leadquestion

Concept attainment

Total

(Students securing less than 8 scores need remedial strategy or doubtsclarification)

Extended activity-Card Game

92 Business Studies

This card game may be named as "Scanning the environment". Make 2

sets of cards with the following factors of external environment. Each

card carries the items of social, economic, political, legal and

techonological factors. 20 cards may be prepared from each factor of

external environment.

(10 x 5 x 2 = 100 cards).

1. Economic Environment

Liberalization, Privatization, Globalization, Disinvestment, Tax rates,foreign trade, National income, Industrial policy, foreign investments,Interest rates, Exchange rates.

2. Social Environment

Literacy, Demographic features, Urbanization, Social Customs, Habits ofPeople, Traditions, Fashion trends, Religious beliefs, Life style, Press andmedia

3. Political Environment

Political ideology of Govt., Stability of govt., Central- state relations,Constitution, Political system, Foreign policy, Defense policy, Democracy,Socialism, Communism, Bilateral relations, Coalition politics.

4. Legal Environment

Trademarks, Intellectual Property Rights Human rights, Labour laws,Environmental laws, Trade agreements, Consumer protection, GAAT,Child labour, Legislations, Foreign .. Regulation, EXIM ...

5. Technological Environment

• 5 or more students or groups may play the game by using 100 cards.

• One player may shuffle the cards and each student may providewith 10 cards, remaining 50 cards are laid in the central position in asingle block.

• Students or groups should arrange the cards in their hands to formone pair each from all the 5 aspects of external environment. For e.g.Industrial policy, Interest rates, these two will make a pair fromeconomic environment and similar four more pairs of differentfactors are to be arranged.

• The second player may withdraw the opening card from the blockand gave up an unwanted card from his hand. At a time a teamshould hold only 10 cards.


Unit test

Quiz

• The game will continue till any team completes all pairs of the 5areas. Cards with same title will not be considered for forming pairs.

• The team which arrange and show all the cards in correct 5 pairs of5 areas will win the game. Others have a negative score of 10 eachfor unpaired cards.

• Those teams attain negative score of 300 may be discontinued fromthe game and others may be allowed to continue till the final winneris identified.

Repository for CE Possibilities

Process Assessment Portfolio Assessment UnitAssessment

General discussion • List showing features ofon meaning and features business environmentof business environment

Case study on importance of • Case study with answers tobusiness environment lead questions

• Notes about environmentscanning and adaptation

Group discussion on dimensions • List of factors coming underof business environment the general environment

• Diagram depicting factors ofexternal environment

General discussion on economic• Brief report on crisis of 1991

environment in India • Notes on LPG

• Check list of self assessment

Group discussion on impact • Discussion report

of govt.policy changes onbusiness and industry

94 Business Studies

TE Questions

1. Pick out the factors which do not form part of the politicalenvironment of a business firm.

(a) Foreign policy (b) Ideology of ruling party

(c) Business cycle (d) Stability of Government

2. Globalization means:

(a) Planned disinvestment (b) Integration among economies

(c) Reduced govt. control (d) All of these

3. Give any four examples of the recent changes in the Indian economicenvironment which have an impact on all business organizations.

4. 'The introduction and popularity of Television has adverselyaffected Radio and Cinema Industries'

(a) Identify the external environment of business referred to here.

(b) Collect any two examples of similar nature.

5. To solve the basic problems of poverty, unemployment andinequality. Government decided in 1991 to introduce some majoreconomic reforms in the field of trade and industry. State the majoreconomic reforms introduced in connection with the above?

6. Scanning the business environment is a pre-requirement to tap newopportunities and to understand new challenges.

In the light of the above statement, explain the importance ofenvironmental analysis.

PlanningUnit - 1Unit - 4


It goes without saying “Think twice before you do’’ that resultsfruitful returns.

Introduction

Planning helps us to decide what should be the

contributions and when and how to achieve it. This is

essential in every sphere of life. Every organisational activity

progresses through a series of stages which involves

developing strategies, implementing them and monitoring

the progress made, evaluating its success or failure and

finally making modification based on actual performance.

Planning is an essential element in all the above stages. In

this unit we deal with the various aspects related to

planning.

96 Business Studies

Process/Activity

with assessment

Periods 14

Learning

outcomes

Concepts/

Ideas

Meaning and Im-portance of Plan-ning

Features of Planning

Limitations ofPlanning

Students will be able to :-• Explain the

meaning and theimportance ofplanning

Explain the featuresof planning

Describe the limita-tions of planning

Suggested strategy: Case study/GeneralDiscussionCases are given from which inferences candrawn on the concepts and importance ofplanning or to conduct a general discussionon the same.Assessment:• Involvement in discussion• Generation of new ideas• Communication of new ideas• Identification of why is planning

necessary?Skill:Communication, Explain, discussion

Suggested strategy : General discussion

• General discussion on the meaning andfeatures of planning by posing reflectivequestions like

• Suppose, management of a firm decides toincrease the target production. What allthings are to be done? In which department?Is it necessary to monitor the actualperformance?

Assessment:• Involvement in discussion

• Assimilation of ideas

• Identification of features of planningSkill:Communication, Logical thinking, AnsweringSuggested strategy : Case study• The following case may be given• A firm manufacturing toy decided to step

up its production during the year 2014, butcould achieve only 70% of the target fixed.

UNIT FRAME


Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

Process of planning

Types of plans

Explain the differentsteps involved inplanning

Identify and explainthe different types ofplans

• What would be the possible causes for theirunderperformance?

• Is there any lacking in the plan?Assessment:• Participation in discussion• Contribution of ideas• Presentation skillsSkill: Creativity, Communication, Logicalthinking

Suggested Strategy: Case study• A case for eliciting the steps involved in

the planning process is givenAssessment:• Participation in discussion• Initiation• Answering the questionSkill: Communication, Logical thinking, Answering, Sharing of ideas

Suggested strategy : General discussionStudents are given some statements/situationsin order to get different types of plans.Eg: Smoking is strictly prohibited in publicplaces, in order to get plus two admission oneshould get minimum 85% and above in SSLCExaminationAssessment:• Participation in discussion• Ability to answer• Comparing the different situations with

each otherSkill:Communication, inferences, Analysis,comparisonon, inferences, Analysis, comparison

98 Business Studies

Process involved in planning

Strategy: Case Study

The following case study for analysis is given in groups

A three day tour programme to Mysore for class 12 students of a school atIdukki district has been organised. A teacher was given the charge of theprogramme. Since there are more students from different batches, separatetime spells are fixed and two buses are arranged. Teacher in charge analysedthe ground realities prevailing at Mysore.

- Heavy rain

- No concession allowed to students at any places during that periodetc.

- Selection of routes.

There are two alternative routes to Mysore from Idukki.

- Idukki-Thrissur-Kozhikode-Sultanbethery-Gudallur Mysore

- Idukki-Munnar-Udumalpettah-Palladam-Sathyamangalam-Mysore

The first route was opted after evaluating both in terms of time, cost, distance,comfort etc.

Tour for first batch of students was carried out in the first spell and on theirreturning, pitfalls were analysed and all these were addressed for the secondbatch's tour.

The following points are discussed along with the above case and supportshould be provided wherever needed.

• Objectives setting

• Planning premises

• Identifying alternatives

• Analysing the alternatives

• Selecting the best one

• Implementing the selected one

• Follow up

After the discussion the consolidates the session by stating and explainingthe various stages in the planning process


Assessment:

Match column A with column B

A B No of correct Clarity

answers required

a. Required at all levels i. Primaryof management function

b. Based on forecasting ii. Pervasive

c. Basis of all otherfunctions iii. Futuristic


Process

• General discussionon meaning andimportance ofplanning

• General discussionon features ofplanning

• A case analysis onlimitations ofplanning

• A case study on theprocess of planning

• General discussionon types of plans

Portfolio

• Note on meaning andimportance of planning

• Note on features ofplanning

• Chart showing thefeatures of planning

• Note on limitations ofplanning

• Assignment on processof planning

• Chart showing theprocess of planning

• Chart showing variousplans coming undersingle use plans andstanding plan

Unit Assessment

Unit Test

100 Business Studies

TE Questions

1. ABC Ltd., a construction company decided to construct a new shoppingmall. Identify the type of plan.

2. Differentiate between policy and rule with suitable example

3. 'Though planning is an important tool of management for achievingobjectives, it is not a remedy for all type of problems''. Substantiateyour answer.

4. 'Planning involves choices'. Illustrate your answer with suitableexample.

5. Setting objectives is the first step of a management function. Identifythe function and explain the remaining steps involved in that plan?

OrganisingUnit - 1Unit - 5

Introduction

Achievement of objective is the ultimate aim of any

management activity and in fact it is important for the

functioning of a concern. This can be obtained only by

developing a suitable organisational structure, allocating

and synchronising various available resources. Duties and

responsibilities are to be clearly defined and carried out

while being part of the organisation. The essence of doing

all the above activities in a framework can be collectively

termed as organising and is an important function of

management. All these aspects are dealt in this unit.


Develop a positive attitude as to about how to organiseactivities in business as well as in daily life to attain objectives.


Periods 14

Meaning and thesteps in the pro-cess of organising

Importance ofOrganising

O r g a n i s a t i o nstructure- Mean-ing and types- For-mal and Informal-advantages, disad-vantages and suit-ability

UNIT FRAME

Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas


• State themeaning oforganising.

• Explain theprocess oforganising

• Describe theimportance oforganising

• Explain themeaning oforganisationstructure

• Identify thetypesorganisationstructure

• Describe theadvantages,disadvantages

Suggested strategy: Case study• A case study on the meaning and steps

involved in the process of organising maybe provided

• Organising a youth festival or clubinauguration can be taken as an example.

Assessment:• Participation in discussion

• Identifying the stages in organising

• Generation of ideasSkill:Communication, logical thinking, analysisSuggested strategy : General Discussion• General discussion on the above case may

be continued to give conceptual clarity onthe importance of organising.

Assessment:• Initiative

• Contribution of ideas

• Understanding the conceptSkill: Communication. Idea generation. Sharing ofideas, analysisSuggested strategy : General duscussionThe teacher may take the example of abuilding, table or anything and asks somequestions relating to structure.• Two charts consisting of functional

structure and divisional structure are shownand asked to anaylse and compare.

Assessment:• Participation in discussion• Identification of differences• Chart showing functional and divisional

structure


Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

Types oforganisation-formal andinformal- mean-ing, advantages,disadvantagesand differencebetween them

Skill:Comparison, analysis, logical thinking, compare,differentiate

Suggested strategy: Case analysis• Two different cases on formal and informal

are given to elicit the meaning, advantagesand disadvantages of both the types and itsdifferences.

• Providing examples like forming a club forrecreational activities while being part offormal set up

• PPT presentation on differences betweenformal and informal organisation

Assessment:• Participation in discussion• PPT on formal and informal organisation• Table showing comparison between formal

and informal organisationSkill:Communication, compare, differentiate,

analysis, logical thinking, sharing the ideas

and suitability offunctionalstructure

• Describe theadvantages,disadvantagesand suitability ofdivisionalstructure

• Differentiatebetweenfunctional anddivisionalstructure oforganisation

• Explain them e a n i n g ,advantages, anddisadvantages off o r m a lorganisation

• Explain them e a n i n g ,advantages anddisadvantages ofi n f o r m a lorganisation

• D i f f e r e n t i a t ebetween formaland informalorganisation

• organisation


Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

• Explain themeaning of del-egation of au-thority

• State the impor-tance of delega-tion

• Describe themeaning ofdecentralisation

• Narrate theimportance ofdecentralisation

• Distinguishbetween delega-tion anddecentralisation

Suggested strategy: Case study Teacher gives a case from which the studentsshould get the meaning, elements, andimportance of delegation of authority.Assessment:• Participation in discussion

• Ability to answer the questions

• Ability to analyse the situation

Skill:Communication, analyse, logical thinking

Suggested strategy : Case studyDifferent situations of delegation anddecentralisation can be presented to instil themeaning and importance of decentralisation.

• A work sheet is provided to differentiatebetween the two concepts.

Assessment:• Involvement in discussion

• Conceptual understanding

• PresentationSkill:Communication, Logical thinking, analysis

Delegation of au-thority-meaning,elements and im-portance

Decentralisation-meaning and im-portance and dif-ferences betweendelegation of au-thority anddecentralisationdecentralisation.


Delegation of Authority

Strategy: Case Study

The following case may be given:

The purchase manager of a firm assigns some of the duties like procuringcanteen materials and maintenance of job cards to various section heads. Hewas relieved of volume of work just to concentrate on procurement of qualitymaterials to production and timely issue of materials to manufacturing.

• By assigning his duties to subordinates what does the productionmanager expects?

• Suppose if the quality of the food deteriorated due to faultyprocurement of canteen materials, who is responsible?

• Is it necessary to give authority to the subordinates in performing theduties assigned to them?

With the help of the following points and based on the discussion above theconcept of 'delegation' can be introduced

• Reduction of workload

• Increase the efficiency of employees

• Motivate the employees

• Organisational growth

• Better control and co-ordination

Self Assessment: Yes / No Remarks

i. I understood the concept of delegation

ii. I need remedial measures on



Process

• Case analysis onthe meaning andprocess oforganising

• General discussionon importance oforganising

• Discussion onmeaning and typeof organisationstructure

• Case analysis ontypes oforganisation-formaland informal

• Case study onmeaning, elementsand importance ofdelegation ofauthority

• Case study ondecentralisation

Portfolio

• Note on the meaning oforganising

• Chart showing the process oforganising

• Assignment prepared onimportance of organising

• Chart showing the functional anddivisional structure oforganisation

• Note on advantages anddisadvantages of functional anddivisional structure oforganisation

• Table showing the differencebetween functional and divisionalstructure

• Note advantages anddisadvantages of formal andinformal organisation

• Table showing the differencebetween formal and informalorganisation

• PPT on importance and elementsof delegation of authority

• Table showing the differencebetween delegation of authorityand decentralisation

• Assignment on meaning andimportance of decentralisation

Unit

Assessment

Unit Test


TE Questions

1. ABC Ltd.is dealing with the production and distribution of cosmeticsitems. Leather bags and readymade garments. Suggest a suitableorganisation structure for the company and justify your selection?

2. "I am originating from within the formal frame work of an organisationas a result of social interaction among the employees. I have noobjectives, shapes, rules, etc".

a) Who am I?

b) State its advantages and limitations?

3. ................refers to number of employees that can be placed under asuperior

4. From the following which is not an element of delegation of authority

a) Authority b) Accountability c) Assigning duties

d) Responsibility

5. Observe the following two statements

1) Mr. Manoj transfers some of his authorities to Mr.Murali, one ofhis subordinates

2) The top level management of Goyal Ltd. Delegates full decisionmaking power relating to a particular product to its lower level

a) Name the concept referred to in the above two situations

b) Differentiate between these concepts?


StaffingUnit - 1Unit -6

Introduction

People have assumed an important role and are inevitable

resource in all forms of organisation. Any organisation

needs people with right skills, knowledge and abilities to

occupy a right place in its structure. Not only placing a

right candidate in an organisation is vital but also should

ensure that he remains competent enough to carry out

the job in a righteous manner by adapting to the changes.

In general this unit deals with recruitment and selection

and training and development.


Kindliness, fair treatment, Justice irrespective of genderdisparity alone constitute a good work force who contributeto the success of any business organisation.


Periods 16

Staffing - Meaning,Importance andrelationship withHuman ResourceManagement

Staffing Process

Recruitment sources:internal- Meaning, ad-vantages and disad-vantages

UNIT FRAME

Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

Students will be able to :-• State the mean-

ing and impor-tance of staffing

• Describe the re-lationship ofstaffing with Hu-man ResourceManagement

• Explain the dif-ferent stages inthe staffingprocessf recruit-ment

Suggested strategy : Brain storming andGeneral discussion.• Students are brain stormed for eliciting the

meaning of staffing

• Helps students to arrive at correctresponses.

• Initiates discussion with vibrant questionsto lead the importance of staffing in anorganisation.

• Concludes discussion by stating staffing asa part of HRM.


• Ability to answer the questions

• Compare staffing with HRMSkill:Communication, Compare, logical thinking

Suggested strategy : Case study• Cases covering all stages of staffing process

are given.

• Lead questions asked to discuss each stage.

• Concludes by drawing the diagram 'aspectsof staffing' given in text book.


• Analyse the situation

• Identification of different stages in staffingprocess

Skills: Communication, analyse, logical thinking

Suggested strategy : General discussionand Debate• Discussion initiated by citing example of

appointing teachers in a school.


Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

External- Meaningadvantages anddisadvantages

Process of selection

Training andDevelopment andbenefits/need oftraining

• Help them to identify various internal andexternal sources of recruitment.

• Debate on the topic 'Internal or externalsources of recruitment more suitable to anorganisation'

• One group supports internal sources andthe other external sources of recruitment.

• Concludes by stating the suitability of bothsources.

Assessment:• Involvement in discussion• Identification of different sources• Logical arguments.• Sharing of useful ideasSkill: Communication, compare, analysis,initiative, democratic approach

Suggested strategy : Role play• Groups are assigned to dramatise the

procedures for selecting Accountants fortheir company.

• Help them to finalise the script by includingsequential steps.

• After presentation by each group evaluateon the basis of the steps included by them.

• On conclusion teacher helps them to drawthe sequential steps in a diagram.

Assessment:• Content coverage• Presentation• Stages included• Preparation of diagram.Skill: Communication, compare, analysis,creative thinking, team work

Suggested strategy : General discussion• Teacher initiates a discussion by citing some

situations of giving training anddevelopment.

• Cases may be compared to distinguishtraining and development

• Identify and ex-plain the differentsources of re-cruitment

• Explain the ad-vantages and dis-advantages of in-ternal and exter-nal sources of re-cruitment

• Describe the dif-ferent stages inselection process


Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

• Explain themeaning oftraining anddevelopment

• List out theimportance oftraining

• Outline thed i f f e r e n tmethods of on-the job and off-the job training

Methods of training-On the job and off thejob.

• Lead questions are asked to discuss thebenefits of training.

• Concludes by stating that training beneficialto both employers and employees.

Assessment:• Involvement in discussion• Answering the questions• Identification of need for training

Skill:Communication, analysis, identification

Suggested strategy : Case analysis• Different cases/situations relating to on-

the job training and off- the job training arecited.

• Lead questions are used to identify thefeatures of each type of training.

• Different methods are listed from studentresponses.

• Conclude by reminding the suitability ofeach method of training.

Assessment:• Involvement in discussion• Identification of type of training• Compare the different situations

Skill:Communication, analysis, compare, logicalthinking


Staffing Process

Suggested Strategy: General Discussion and Case analysis:

List out the various resources required for an organisation

• Physical resources

• Financial resources

• Human resources

Which among them is the most important and why?

• Human resources because they manage the other resources

From the above discussion, the need and importance of selecting rightpeople,updating their skills and maintaining them with propercompensation and motivation is drawn

The students can be provided a case from which they should get all thestages of staffing in details.

Mr.Raju had three umbrella manufacturing unit. He intends to go for onemore unit for which the following personnel is required -

Manager - 1 No. Supervisor - 2 No, Clerk - 1 No., Labourers - 20 No's

One of his senior existing staff is promoted as the manager of the new unitand an existing supervisor was shifted to new unit. Applications were calledfor the remaining vacancies. A lot of applications were received for the abovevacant posts.

As part of the selection Raju conducted a written test and an interview forthe selection of supervisor and clerk and selection of appropriate candidatewas made. Trade test was performed on candidate who has applied aslabourers.

One week orientation programme was carried out for selected candidatesas supervisor and clerk. All the employees were given proper training fromtime to time. Performance analysis was carried out on employees by Mr.Rajufrequently. All of them were compensated very well depending up on theirexperience and performance.

Discussion points:• Identification of man power requirement

• Finding out the sources of candidates

• Selection of candidates

• Placement and orientation

• Training

• Performance appraisal

• Compensation


After the discussion, consolidate the process of staffing by using a suitablediagram.

Assessment:- Teacher Assessment

Teacher assessment may be done by using the following format-

On the basis of the assessment, remedial measures may be undertaken bythe teacher.


Sl. Indicators No of students

No. Best Average Need

performance Performance improvement

1 Analysis

2 Participation in discussions

3 Identification of different stages

4 Answering lead questions

5 Able to draw the diagram

Process• Brain storming and

general discussion onmeaning andimportance of staffingand relationship ofstaffing with HRM

• Case study on staffingprocess.

• General discussionand debate on sourcesof recruitment-internal and external.

• Role play on selectionprocess

• General discussion onbenefits of training

• Case analysis onmethods of training

Portfolio• Note on meaning and importance

of staffing• Assignment on relationship of

staffing with HRM

• Assignment on process of staffing• Diagram showing staffing

process

• Note on types of internal sourceand external sources ofrecruitment

• Debate report• Chart showing the types of

internal and external source ofrecruitment.

• Note on selection process• Script of role play

• Note on benefits of training• Table showing differences

between training anddevelopment

• Assignment on types of training• Chart showing types of training.

Unit assessment

Unit Test


TE Questions

1. TE Questions

1. Observe the following statements

i) Mr.Binu, a cashier in Canara Bank,Thirivananthapuram is shifted toKollam branch.

ii) Mr.Baiju, a cahier in Union Bank at Palakkad is shifted and promotedto Ernakulam branch as manager.

a) Name both the internal sources of recruitment

b) State any three advantages and three disadvantages of this sourceof recruitment

2. Complete the series:

3. Which selection test is used to identify person's emotions, reactions,maturity, value system, etc?

4. In this type of training the employees learn jobs on the equipment theywill be using, but the training is conducted away from the actual workfloor.

Identify the type of training and explain its features.

5. Mr. Haridas, a trade union leader argues that training given to employeesis beneficial to the employer only. Do you agree with this argument?Substantiate your answer.

DirectingUnit - 1Unit -7


Direction must affect the mood of the subordinates which mustresult in a positive change.

Introduction

Planning and organization are only introductory phase

of management functions while directing is a really a life

giving function as the organization begins to breathe the

moment this function is performed .People are instructed,

giving guidelines which are the core activities in direction.

This is to take place through communication. A director

must therefore be a good communicator. Communication

is to be coloured when it contains motivation, leadership

and supervision. Thus the four elements of communication

are communication, motivation, leadership and supervision.

This chapter covers the whole concept of direction and its

elements


UNIT FRAME

Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas


ing of direction• Explain the char-

acteristics of di-rection

• Describe the im-portance of di-rection

• Recognise andexplain the prin-ciples of direction

• State the ele-ments of directing

• Explain themeaning of su-pervision

• Explain the role/importance of su-pervisor

Suggested strategy: Brain storming andgeneral discussionThe teacher initiates a brain storming sessionby asking relevant questions• What do you mean by directing?• What are the features of it?• Is it important to direct the people?• It follows a general discussion in detailAssessment:• Participation in discussion• Answering the questions• Sharing of new ideasSkill: Communication, sharing, creativethinking

Suggested strategy: General discussionThe teacher initiates a general discussion byasking relevant questions in order to get theprinciple of directionAssessment:• Participation in discussion• Sharing of ideas• Logical thinkingSkill: Communication, Logical thinking,Answering the questions

Suggested strategy: Discussion and caseanalysisTeacher starts a general discussion in orderto get the different elements of direction suchas supervision, motivation, leadership andcommunication.After the discussion teacher gives a caserelating to supervision-eg supervisor in afactory/construction cite and asks variousquestions relating to importance/role ofsupervisor

Directing; Mean-ing, Characteristicsand importance

Principles of di-recting

Elements of direct-ing: Supervision-Meaning and im-portance

Periods 17


Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

Assessment:• Involvement in discussion• Ability to analyse the situation• Identification of role of supervisorSkill: Communication, sharing, analysis.Logical thinking

Suggested strategy: Brain storming andgeneral discussionTeacher starts a brain storming session byasking various questions such as• What is motivation?• How can you motivate person?• Is motivation important or not?Assessment:• Analyse the situation• Involvement in discussion• Identification of process of motivationSkill: Communication, identification, sharing,logical thinking

Suggested strategy: Case analysisThe teacher gives a case to the students foranalysis and discussion. The case should containthe different types of human needs.Assessment:• Analyse the given case• Involvement in discussion• Identification of different needs• Arranging needs in hierarchical orderSkill: Communication, identification, arrangingneeds in sequential order, analysis, sharing ofideas

Motivation: Mean-ing, features, pro-cess and importance

Maslow's need hier-archy theory of mo-tivation

• State the meaningof motivation

• Explain the fea-tures of motivation

• Identify the pro-cess of motivation

• Explain the im-portance of moti-vation

• State the assump-tions of Maslow'stheory

• Explain Maslow'stheory of motiva-tion


Suggested strategy : Case analysisProvides different cases relating to financialand non-financial incentives followed bydiscussionAssessment:• Involvement in discussion• Analysis the cases• Identification of the types of incentivesSkill: Communication, sharing, analysis andidentification

Suggested strategy: Brain storming anddiscussionTeacher initiates a brain storming session byasking various questions such as• Who is a leader?• How does a person elevated as a leader?• Is it behavioural quality?• Why is leader important in an organisation?Assessment:• Participation in discussion• Identification of features of leadership• Answering the questionsSkill: Communication, answering,identification

Suggested strategy: Discussion and caseanalysisTeacher initiates a discussion by askingvarious questions in order to get differentqualities of a leader After the discussion, teacher gives somecases relating to different styles of leadership-Autocratic, Democratic and Laissez-faireAssessment:• Participation in discussion• Analysis the situation• Identification of the qualities of leaderSkill: Communication, identification, logicalthinking and analysis

Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas


ing of incentives• Explain the dif-

ferent types of fi-nancial incen-tives

• Explain the dif-ferent types ofnon-financial in-centives

• State the mean-ing of leadership

• Explain the fea-tures of leader-ship

• Describe the im-portance of lead-ership

• Explain the quali-ties of a leader

• Explain the dif-ferent types/styles of leader-ship

Incentives-financialand non-financial

Leadership- Mean-ing, features andimportance

Qualities of a leaderand leadershipstyles


Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

• State the meaningof communication

• Explain the processof communication

• Describe theimportance ofcommunication

• State the meaningof formal andinformalcommunication

• differentiatebetween formaland informalcommunication

• Explain thedifferent patternsof formalcommunication

• Identifydimensions offormalcommunication

Communication:Meaning, ele-ments/process andimportance

Types of communi-cation-formal andinformal

Suggested strategy : Brain storming andGeneral discussion• What is communication?• Which is the starting point of

communication?• Is a medium necessary for

communication?• Why is communication important in an

organisation?Assessment:• Involvement in discussion• Answering the questions• Identifying the process of communicationSkill: Communication, sharing, identification

Suggested strategy : Discussion and caseanalysisTeacher initiates a general discussion sessionby asking various questions in order to getthe meaning and types of communication.After the discussion, teacher gives somecases relating to different dimensions ofcommunication.Then teacher shows a diagram consistingdifferent patterns of formal communicationAssessment:• Involvement in discussion• Analysis the situation• Identification of different patterns of

communication• Identification types of communicationSkill: Communication, analysis, logicalthinking, differentiation, idea generation


Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

• Explain differenttypes of commu-nication barriers

• Cite examples ofcommunicationbarriers

• Identify andrecognise variousmethods/tech-niques/ways forimproving thecommunicationeffective

Barriers to com-munication

Improving commu-nication effective

Suggested strategy: Case analysisTeacher gives various cases relating todifferent types of communication barriersEg: While watching a movie power supplyfailedAssessment:• Involvement in discussion• Identification of different barriers of

communication• Analysis the casesSkill: Identification, communication, logicalthinking, sharing of ideas, analysis

Suggested strategy: General discussionTeacher starts a general discussion by askingvarious questions such as• How can we overcome the language

problem in communication?Assessment:• Involvement in discussion• Answering the questions• Identification of ways to overcome

communication barriersSkill: Communication, creative thinking,identification


Barriers of Communication

Suggested Strategy : Demonstration and Group discussion

Teacher performs the following actions to convey an idea on different modesof communication in the class room such as;

• Calls a student with a nod of his head.

• Call by name of the student.

• Calling a student on the basis of their seating position in the class.

• Ask a student to call another student by describing his/her seatingposition.

• Use a bit of paper card for calling a student with slight deviation oncorrect identity.

• Calling a colleague in the staff room over mobile phone.

• Send a student to call a colleague in the staff room.

NoMode of communication used

( Verbal, Gesture, Written,Electronic Media)

Clarity ofmessage

VagueClear

Time taken torespond

LateQuick

Necessary emphasis should be given to figure out the elements, barriers, andmeans of effective communication.


Discussion on the following is carried on the following as a continued activity;

• The purpose of communication.

• The easiest mode of communication.

• The time taken to get the response.

• The problems if any in conveying and understanding the message.

To reinforce the barriers, the teacher may put the students to an exercise oncommunication.

Give a slightly complex message to one of the students and ask him to passit to the next and continue to the next and so on. The last student has to spellout the message aloud. Then the first student is asked to give out the actualmessage.

The following points are given and discussion is carried out

• Body language

• Gestures

• Misunderstanding the communication

• Lack of knowledge in the phases used in communication

• Complex structure

•

The above exercise and the table prepared may be used as an indicator toguide the students and asks to suggest remedies for it.

• Semantic barriers

• Psychological barriers

• Organisational barriers.

Assessment:

Understanding of the barrier Number of Students

Clear

Partially Clear

Need Improvement


Process

• Brain storming andgeneral discussion onthe meaning andcharacteristics ofdirecting

• General discussion onthe principles ofdirecting

• Discussion and caseanalysis on theelements of directing- supervision

• Brain storming andgeneral discussionon motivation, itsfeatures andprocess

• Case analysis onMaslaw NeedHierarchy theory ofmotivation.

• Case analysis onincentives

• Discussion onleadership, itsfeatures andimportance

• Case analysis onqualities of a Leaderand differentLeadership styles.

Portfolio

• Note on meaning andcharecteristics ofdirecting

• Note on the importanceof directing

• Discussion notes onprinciples of directing

• Discussion points onsupervision

• Notes on motivation

• Chart showingMaslaw’s needHierarchy

• Report on classificationof need hierarchicalneeds

Unit Assessment

Unit Test

Open book assessment


Chart showing variousfinancial and non-financialincentives

Notes on meaning andfeatures of leadership

PPT showing the qualities ofa good leader

Notes containing differenttypes of leadership styles


TE Questions:

1. Which of the following needs, money can satisfy according to AbrahamMaslow?

a. Security needs b. Ego needs

c. Basic needs d. Social needs

2. The effectiveness of communication depends upon:

a. Clarity in speech b. Good voice

c. Use of simple words d. Feedback

3. How does communication make a change in human behavior?

4. Explain in a few words how motivation helps to improve theperformance of an organization?

5. Explain the ways how barriers in communication can be overcome?

• Brain storming andgeneral discussion on themeaning ofcommunication and itselements.

• Case analysis ondifferent types ofcommunication

• Case analysis onbarriers tocommunication

• General discussion onimprovingcommunicationeffectiveness

Chart showing themeaning and importanceof communication

Diagram showing theprocess of communication

Notes showing differenttypes of communication -formal and informal

Report on different barriersto communication

PPT showing themethods/ways forimproving communicationeffectiveness



ControllingUnit - 1Unit -8

Introduction

Determination of success in business is very much

associated with the quality of its planning and the skill with

which it is controlled. Tracking the progress of planned

activities is essential for fulfillment of organizational goals.

Optimum utilization of resources is assured when a proper

control mechanism is in place. So a good control measure

is part and parcel of every planned activity.


Sincerity, honesty, trustworthiness and legal compliances areintegral part of controlling system.


Meaning andimportance ofcontrolling

Limitations ofcontrolling

Relationshipbetween planningand controlling

UNIT FRAME

Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

Students will be able to :-• Explain the

meaning of Con-trolling State theimportance ofcontrolling

• Identify the limitations of controlling

• Distinguish be-tween planningand controlling

Suggested strategy:General Discussion/case study• Provides worth examples to elicit the

meaning and need of controlling• Give a suitable case of traffic signal lights

being used to control the traffic in junctionsand cities to realize the importance ofcontrolling

Assessment:• Understanding of concept• Active participation• ComprehensionSkill: Communication, Recognizing, Analysis, Interpretation

Suggested strategy : General Discussion• Based on the above discussion and thought

provoking questions to draw out positiveresponses on the limitations of controlling

Assessment:• Ability to present ideas• Creativity• PPT on limitation of controllingSkill: Interpretation, Communication, Analysis

Suggested strategy : General Discussion• Highlight on

What is planning and what is controlling?• Try to get as many points of differences

by giving discussion points like forwardlooking, backward looking etc.

Assessment:• Participation• Notes on differences between planning and

controllingSkill:Comparison, Differentiation, Critical thinking, Analysis. communication

Periods 12


Process/Activity

with assessment

Learning

outcomes

Concepts/

Ideas

ControllingProcess

Traditional andmodern tech-niques of mana-gerial control

Suggested strategy : Role Play• Role play on fixing a sales target of product

for a month can be given with sufficientplanning

• Ensure that all the steps of controllingprocess are covered.

• Discussion to be followed and prepare noteson it

Assessment:• Preparation and involvement in planning• Chart on steps in the control process• PPT preparedSkill: Communication, Trusting others, Divergent thinking, Interpretation

Suggested Strategy : Group Discussionwith case study• Case study on budgeting on sales figures

for a year can be given• Comparison of actual sales and budgeted

sales can be made• Discussion on how the management can

exercise control on the above sales• Introduce the new methods of management

control like PERT, CPM and compare thiswith the old techniques

• Report on new and traditional techniquesof management control

Assessment:• Conceptual clarity attained• Assimilation of ideas• Report on the traditional and new techniques

of controlSkill:Analysis, Interpretation, Divergent thinking,Communication

• Illustrate the stepsin the controllingprocess

• List out the tradi-tional techniquesof managerialcontrol

• State the moderntechniques ofmanagerial con-trol


1.Meaning and importance of controlling

Suggested strategy: Case Study

Cite the example of a traffic signal lights fixed in the cities on crossroads

• What is the objective behind these traffic signal lights?

• If these traffic lights are put out what will happen?

• Suppose if there is no control is exercised on planned activities, thenwhat will be the result?

• If there is no plan, then what is there to be controlled?

•

Taking the responses and by comparing the above situation with that of abusiness the following discussion points can be given

Discussion Points:

• Organisational goals

• Effective use of resources

• Accuracy of standards

• Co-ordination

•

Consolidate the session using a PPT on the meaning and importance ofcontrolling.

Assessment

No Attributes No of students

1 Number of participants actively engagedin the discussion

2 Timely completion of discussion

3 Attainment of concept during the processof discussion

4 Students need further help

5 Students able to explain the concept


Portfolio

Notes on meaning andimportance of controlling

PPT on Limitations ofcontrolling

- Lists the points toidentify the relation

- Notes on theRelationship betweenplanning andcontrolling

Report on showing theprocess of controlling

Chart showing the processof controlling

- Identify the Traditionaland modern techniquesof managerial control

- Notes on Traditional andmodern techniques ofmanagerial control

Repository of CE possibilities

Process

General discussion onmeaning andimportance ofcontrolling

General Discussion onLimitations ofcontrolling

General discussionRelationship betweenplanning andcontrolling

Role play to identifythe ControllingProcess

Case study onTraditional andmodern techniques ofmanagerial control

Unit Assessment

Unit Test,

Open bookassessment

Portfolio

Notes on meaning andimportance of controlling

PPT on Limitations ofcontrolling

- Lists the points toidentify the relation

- Notes on theRelationship betweenplanning andcontrolling

Report on showing theprocess of controlling

Chart showing the processof controlling

- Identify the Traditionaland modern techniquesof managerial control

- Notes on Traditionaland modern techniquesof managerial control


TE Questions

1. Planning and controlling are inseparable twins of management.Comment

2. A shoe manufacturing firm sets a production target of 2, 00,000 ladiesshoes for this rainy season.

a. Identify the control process mentioned above?

b. Explain the other steps involved in this process?

3. "Even the best plans when put into action may fail". Discuss the abovestatement from the point of view of controlling?

4. A computer based information system used to support effectivemanagerial decision making is

a. PERT b. CPM c. MIS d. Management Audit

5. Analysis and interpretation of financial statements of a firm is done foreffective decision making.

a. How is this done from the control point of view?

b. List out the various ratios involved in such process?

Documents

00 Amugham 00 - Keralascert.kerala.gov.in/images/2015/teachertext/Plustwo... · • Continuous and comprehensive evaluation helps in improving students performance by identifying