Management Fundamentals

Syllabus

MBA 107: MANAGEMENT FUNDAMENTALS

Unit-1

Basic Concepts: Manager, Managing, Workplace, Organization, Management Functions, Mintzberg’s Managerial Roles, The Universality of Management, Approaches to Management - Early Management, Classical Approach, Behavioral Approach, Quantitative Approach, Contemporary Approaches. Managerial Competencies: Communication, team work, planning and administrative, strategic and global competencies; Managerial Skills; How Is the Manager’s Job Changing?, Importance of Customers to the Manager’s Job, Importance of Innovation to the Manager’s Job, Importance of Sustainability to the Manager’s Job.                                                           (05)

Unit-2

Planning: Concept, need, nature, Management By Objectives (MBO) - Process of MBO - Benefits of MBO, Planning and Performance, Goals and Plans, Types of Goals, Types of Plans, Setting Goals and Developing Plans, Approaches to Setting Goals, Developing Plans, Approaches to Planning, Planning Effectively in Dynamic Environments.                                                                                  (06)

Unit-3

Organizing: Organization, Organizing, Organizational Structures, Principles of Work Specialization , Departmentalization, Chain of Command, Span of Control, Centralization and Decentralization, Formalization. Mechanistic and Organic Structures, Factors Affecting Structural Choice - Strategy, Size, Technology, Environmental Uncertainty. Traditional Organizational Designs - Simple Structure, Functional Structure, Divisional Structure, Matrix Structure, Team Structures, Project Structure, Adaptive Organizations – Boundary less Organization, Virtual Organizations, Learning Organization, Flexi Work, Tele-working, Global Organizations.                                                                                                     (07)

Unit-4

Decision Making: The Decision-Making Process - Identifying a Problem - Identifying Decision Criteria - Allocating Weights to the Criteria - Developing Alternatives - Analyzing Alternatives - Selecting an Alternative - Implementing the Alternative - Evaluating Decision Effectiveness. Making Decisions: Rationality, Bounded Rationality, The Role of Intuition, The Role of Evidence-Based Management. Types of Decisions & Decision-Making Conditions. Decision Making approaches - Quantitative approach, Environmental Approach, System Approach, Ethical Approach, Intuitive Approach, Case Study Approach Decision-Making Styles - Linear–Nonlinear Thinking Style Profile, Decision- Making Biases and Errors. Effective Decision Making in Today’s World - Correctness of decision, Decision environment, Timing of decision, Effective communication of Decision, Participation in decision Making-Implementation of decision. (07)

Unit-5

Controlling: Controlling, Definition, need and Importance, The Control Process, Managerial Decisions in Controlling, Feed-forward / Concurrent / Feedback Controls. Financial Controls, Information Controls, Benchmarking of Best Practices.                   (05)