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Business Studies

Marking Scheme

Unit Topic Marks
PartA: Principles and Functions of Management
1 Nature and Significance of Management 7
2 Principles of Management 7
3 Business Enviornment 12
4 Planning 7
5 Organizing 10
6 Staffing 10
7 Directing 12
8 Controlling 7
Total (A) 60
Part B : Business Finance and Marketing
9 Financial Management 12
10 Financial Markets 8
11 Marketing 14
12 Consumer Protection 6
Total (B) 40
Grand Total 100


Part A: Principles and Functions of Management

Unit 1: Nature and Significance of Management

1. Concept includes meaning and features : Understand the concept of management, Explain the meaning of,Effectiveness and Efficiency.

2. Levels of Management :Understand the role of top, middle and lower levels of management

3. Coordination- concept and importance: Discuss the concept and characteristics of coordination, Explain the importance of coordination.

Unit 2: Principles of Management

1. Principles of Management- concept and significance: Understand the concept of principles of management, Explain the significance of management principles.

2. Fayol's principles of management - Discuss the principles of management developed by Fayol.

3. Taylor's Scientific management- Explain the principles and techniques of ,Scientific Management, Compare the contributions of Fayol and Taylor..

Unit 3: Management and Business Environment

1. Business Environment- concept and importance : Understand the concept of Business Environment, Appreciate the importance of business environment.

2. Dimensions of Business Environment- Economic, Social, Technological, Political and Legal: Describe the various dimensions of ,Business Environment.

3. Impact of Government policy changes on business with special reference to liberalization, privatization and globalization in India:Examine the impact of government policy changes on business and industry with special reference to liberalisation and globalisation since 1991.

Unit 4: Planning

1. Concept, importance and limitation: Understand the concept of planning, Appreciate the importance of planning, Understand the limitations of planning.

2. Planning process: Describe the steps in the process of planning

3. Policy, Procedure, method Rule, budget and Programme: Describe objectives, policies, strategy, procedure, method, rule, budget and programme as types of plans.

Unit 5: Organising

1. Concept and importance: Understand the concept of organizing as a structure and as a process, Explain the importance of organising. 2. Organising Process: Describe the steps in the process of organising.

3. Structure of organisation- functional and divisionalconcept, Formal and informal organisation- concept: Describe functional and divisional structures of organisation, Explain the advantages, disadvantages and suitability of functional and divisional structure, Understand the concept of formal and informal organisation, Discuss the advantages, disadvantages of formal and informal organisation.

4. Delegation, concept, elements and importance: Understand the concept of delegation, Describe the elements of delegation, Appreciate the importance of Delegation.

5. Decentralization: concept and importance:Understand the concept of decentralisation, Explain the importance of decentralisation, Differentiate between delegation and decentralisation.

Unit 6: Staffing

1. Concept and importance of staffing : Understand the concept of staffing, Explain the importance of staffing.

2. Staffing as a part of Human Resource Managementconcept: Understand how staffing is a part of Human Resource Management

3. Staffing process: Describe the steps in the process of staffing.

4. Recruitment process: Understand the meaning of recruitment, Discuss the sources of recruitment, Explain the merits and demerits of internal and external sources of recruitment.

5. Selection- process :Understand the meaning of selection, Describe the steps involved in the process of selection.

6. Training and Development- Concept and importance, Methods of training- on the job and off the job- Induction training, vestibule training, apprenticeship training and internship training: Understand the concept of training and development, Appreciate the importance of training to the organisation and to the employees, Discuss the meaning of induction training, vestibule training, apprenticeship training and internship training, Differentiate between training and development, Discuss on the job and off the job methods of training.

Unit 7: Directing

1. Concept and importance: Describe the concept of directing, Discuss the importance of directing.

2. Elements of Directing : Describe the four elements of directing

3. Motivation-concept, Maslow's hierarchy of needs, Financial and non financial incentives: Understand the concept of motivation, Develop an understanding of Maslow's Hierarchy of needs, Discuss the various financial and non-financial incentives.

4.Leadership- concept, styles- authoritative, democratic and laissez faire: Understand the concept of leadership, Understand the various styles of leadership.

5. Communication: Understand the concept of communication, Understand the elements of the communication process, Discuss the concept, merits and demerits of formal and informal communication, Understand the various types of networks of formal and informal communication, Discuss the various barriers to effective communication, Suggest measures to overcome barriers to communication

Unit 8: Controlling

1. Concept and importance: Understand the concept and importance of controlling.

2. Relationship between planning and controlling: Describe the relationship between planning and controlling

Part B: Business Finance and Marketing

Unit 9: Financial Management

1. Concept and objective of Financial Management: Understand the concept of financial management, Explain the role of financial management in an organisation.

2. Financial decisions: Discuss the three financial decisions and the factors affecting them

3. Financial Planning: Describe the concept of financial planning and its objectives, Explain the importance of financial planning.

4. Capital Structure: Understand the concept of capital structure, Understand the concept of fixed and working capital.

Unit 10: Financial Markets

1. Financial Market: Understand the concept of financial market, Explain the functions of financial market.

2. Money market and its instrument: Understand the concept of money market, Describe the various money market instruments.

3. Stock Exchange: Give the meaning of a stock exchange, Explain the functions of a stock exchange.

4. Securities and Exchange Board of India (SEBI) - objectives and functions: State the objectives of SEBI, Explain the functions of SEBI.

Unit 11: Marketing Management

1. Selling and Marketing- Concept : Understand the concept of selling, marketing, Explain the features of marketing

2. Marketing Functions: Marketing Functions, Explain marketing management philosophies, concept of marketing mix. 3. Product: Understand the concept of product as an element of marketing mix, Understand the concept of branding, labelling and packaging.

4. Price: Describe the factors determining price of a product.

5. Physical Distribution: Understand the concept of physical distribution, Explain the components of physical distribution, Describe the various channels of distribution

6. Promotion : Understand the concept of promotion as an element of marketing mix, Describe the elements of promotion mix, Understand the concept and features of advertising, Describe the role of advertising, Examine the objections to advertising.

Unit 12: Consumer Protection

1. Concept and importance of consumer protection: Understand the concept of consumer protection, Describe the importance of consumer protection.

2. Consumer protection Act 1986:Understand the concept of a consumer according to the Consumer protection Act 1986, Explain the consumer rights, Understand the responsibilities of consumers, Discuss the legal redressal machinery under Consumer protection Act 1986.

3. Consumer awareness: Describe the role of consumer organizations and NGOs in protecting consumers" interests.