DESCRIPTION OF COURSES

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AG ECON 535 FUNDAMENTALS OF BUSINESS MANAGEMENT                       (3L + 1P) III

Objective
  This course attempts to explore the basic concepts of management and to familiarise the students with the application of the management concepts to agribusiness.

Theory

UNIT I
  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.

UNIT II
  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.

UNIT III
  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.

UNIT IV
  Leading: Motivation – concept and theories of  motivation; leadership behaviour and styles. Managing personnel – compensation, incentives, training, placing and personal development.

UNIT V
  Controlling: Management control. Control systems. Audits. Budget controls. Techniques of control. Management information systems.

UNIT VI
  Managing financial resources: Accounting and accounting cycle; key financial statements – balance sheet, profit and loss statement, cash flow statement. Financial ratios.

Practicals
  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.

Suggested Readings