DESCRIPTION OF COURSES
AG ECON 535 FUNDAMENTALS OF BUSINESS MANAGEMENT (3L + 1P) III
This course attempts to explore the basic concepts of management and to familiarise the students with the application of the management concepts to agribusiness.
Evolution of scientific management. Agribusiness – definition; trends in India. The agribusiness environment. Principles of management. Managerial decision making process. Social responsibility of business and ethics. Functions of management and managers – conventional views, Henry Mintzberg’s concept.
Planning: Nature and purpose of planning; setting goals and objectives; MBO (Management by Objectives); Different types of planning – short range and long range or strategic planning. Strategies policies and planning premises.
Organizing: Nature and purpose of organizing; organizational structure and design. Key elements in organizing – authority, responsibility and unity of command, span of control, centralization and decentralization, departmentalization, delegation. and organizational relationships. Responsibility. Actuating human resources; staffing and recruiting. Organisational structures- types of structures, formal and informal structures, matrix structure.
Leading: Motivation – concept and theories of motivation; leadership behaviour and styles. Managing personnel – compensation, incentives, training, placing and personal development.
Controlling: Management control. Control systems. Audits. Budget controls. Techniques of control. Management information systems.
Managing financial resources: Accounting and accounting cycle; key financial statements – balance sheet, profit and loss statement, cash flow statement. Financial ratios.
Developing and evaluating organizational structures. Case studies related to planning, organizing, leading, and controlling and general business strategy. Developing financial statements; interpreting the statements. Financial ratios – computation and interpretation for financial performance of business firm.