PREPARING FOR THE IT3401 Business Management email@example.com
OPTIONAL PAPERS OFFERED for Year 2 Semester 3 BUSINESS MANAGEMENT OPERATIONAL RESEARCH WEB DEVELOPMENT TECHNIQUES
Optional Paper –BUSINESS MANAGEMENT INTRODUCTORY NOTE
What is BUSINESS MANAGEMENT• The subject Business Management will impart knowledge that is necessary to manage the total functions of a business in an efficient and effective manner.
OBJECTIVES OF THIS MODULE Improve management skills Understand a basic marketing plan Understand and interpret financial statements Contd…..
Objectives of this module (Contd.) Apply cost accounting principles in decision making Apply economic principles in businesses operations Apply an effective inventory control system Contd…….
Areas covered in BUSINESS MANAGEMENT• MANAGEMENT• MARKETING• FINANCIAL ACCOUNTING• MANAGEMENT ACCOUNTING• ECONOMICS
MANAGEMENT Evolution of Management The Management process Schools of thought and management theories Managerial Roles & Skills Roles of a manager Management skills Challenges of management
MANAGEMENT (Contd.) Planning, Organizing, Leading, & Controlling Major functions in Management The formal planning process and strategic planning. Basics in organizing. Leadership as a function of management. Control Function
MANAGEMENT (Contd.) Organizational Structure & Behaviour Organizational structures Co-ordination, communication, delegation and empowerment Concept of Centralization and De- centralization
MANAGEMENT (Contd.)Motivation & Leadership Content, Process, and reinforcement theories Theories in leadership Trait, Behavioural and contingency approaches
MARKETING Basic principles in marketing Marketing mix Process of segmentation targeting, and positioning Basic Product life cycles and BCG Matrix How to develop a marketing strategy
FINANCIAL ACCOUNTINGFinancial Accounting Principles The principles and conventions in financial accounting Different forms of ownership in business entities
Financial Accounting (Contd.)Double Entry Principles of Double Entry Writing up the ledger accounts Extraction of the Trial Balance
Financial Accounting (Contd.)Preparation of Final Accounts Profit & Loss Account Concepts behind a Profit & Loss Account Preparation & interpretation of a Profit & Loss A/c.
Financial Accounting (Contd.)Preparation of Final Accounts Balance Sheet Concepts behind a Balance Sheet Preparation and interpretation of a Balance Sheet
MANAGEMENT ACCOUNTINGRatio Analysis The use of ratios to interpret financial statements Different ratios commonly used.
Management Accounting (Contd.)Cost Accounting and Decision Making The basic cost accounting principles Relevance to pricing of products/services
Management Accounting (Contd.)Inventory Control Different types of Inventory costs Stock Control methods Stock Pricing methods Economic Order Quantity (EOQ)
ECONOMICSManagerial Economics Basic theories of Economics Demand and Supply Different types of markets Principles of costs – Short-run/Long-run Basic Macro Economic principles
Why Select Business Management Help in the future career path by giving a better understanding of the business world Ability to communicate with businesses
How will BUSINESS MANAGEMENThelp you in other areas Develop IT Solutions for Organisations Provide Background knowledge to be an entrepreneur
Develop IT Solutions for Organisations Organisations require IT Solutions to: Reduce Operational costs Speed up operations Ready access to any managerial information Low cost production Facilitate Value for money pricing Improve Profitability
Provide Background knowledge to be anentrepreneur Cost product/service Price product/service Develop a marketing strategy Compare performance with that of your Competitors Prepare a budget Evaluate performance – both marketing and financial
Business Management skills will help inunderstanding to: Identify the problems faced by a business Take timely decisions for corrective action Steer the Organisation to success
Examination- Year 2- Semester 3Optional Paper – Business ManagementExamination Paper will be for 3 hours: Part 1 – 1.5 hours Multiple Choice Questions Part 2 – 1.5 hours Structured Questions. A Case Study
Business Management –Recommended hours of teaching Evolution of Management - 4 hours Managerial roles and skills – 3 hours Planning, Organising, Leading and Controlling - 5 hours Organizational Structure & Behaviour - 4 hours Marketing - 6 hours Motivation and Leadership- 5 hours
Business Management –Recommended hours of teaching (Contd.) Cost Accounting and decision making - 6 hours Managerial Economics - 12 hours Inventory Control - 3 hours TOTAL 60 HOURS
Business ManagementBooks RecommendedMAIN READING: Management 6th Edition by James A.F.Stoner & R. Edward Freeman Principles of Marketing (8th edition) by Philip Kotler & Gary Armstrong Spicer & Pegler’s Book-Keeping and Accounts 19th edition by Paul Gee
Business ManagementBooks Recommended MAIN READING (Contd.) Management Accounting 3rd Edition by T. Lucey An Introduction to Positive Economics 6th Edition by Richard G. Lipsey Quantitative Techniques 4th Edition (Chapter 11 to 14) by T. Lucey
Business ManagementBooks Recommended –Supplementary Reading Management by Cole Marketing Management 9th edition by Philip Kotler Costing –An Instructional Manual 2nd Edition by T. Lucey Quantitative Methods Management 1st Edition by K.R.M.T.Karunaratne