Business Organisation and Management

DR. K. Sundar

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Business Organisation and Management

K. Sundar

ISBN 9789395245371

Publication Date Sun May 01 00:00:00 UTC 2022

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Biographical note

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This book Business Organisation and Management is designed in two parts. The first part covers Business Organisation. The second part covers the important topics on Principles of Management.

Cover
Halftitle Page
Title Page
Copyright Page
Contents
Preface
Part - 1: Business Organisation
- Chapter 1: Business Foundations
  - Definitions
  - Characteristics of Business
  - Objectives of Business
    - Economic Objectives
    - Organic Objectives
    - Social Objectives
    - Human Objectives
    - National Objectives
    - Global Objectives
    - Environmental Objectives
  - Importance of Business
  - Pre-requisites for Success in Business
    - Determination of Objectives
    - Planning
    - Organisation
    - Estimating Financial Requirement and Mobilising the Funds
    - Proper Location, Layout and Size
    - Efficient Marketing System
    - Investment in Research and Development
    - Development of Human Potential
    - Dynamic Leadership
    - Continuous Monitoring of Environment
    - Ethical Practice
  - Businessman – Qualities Required
    - Essential Qualities of a Successful Businessman
  - Business Risks
    - Nature of Business Risks
    - Causes of Risks
    - Methods of Dealing with Risks
  - Role of Profit in Business
    - Source of Livelihood
    - Growth of Business
    - Index of Performance
    - Reward for Risk Bearing
    - Building up Image
  - Review Questions
- Chapter 2: Evolution of Business
  - Household Economy
  - Barter Economy
  - Defects of Barter System
  - Evolution of Money
  - Town Economy
  - International Trade
  - Globalisation
  - Evolution of Industry
    - Handicraft System
    - Guilds
    - Domestic System
    - Industrial Revolution
  - Impact of Technology on Industry in Information Era
  - Industrialisation in India
  - Business Environment
    - Factors Influencing Business Environment
  - Recent Trends in Business
  - Review Questions
- Chapter 3: Forms of Organisation
  - Forms of Organisation
  - Non-corporate Enterprise
    - A Sole Trader or Sole Proprietorship
    - Features
    - Merits
    - Demerits
    - Survival of Sole Trader Form of Organisation
    - Suitability of Sole Proprietorship
    - Other Merits Favouring Individual Proprietorship
  - Partnership
    - Definitions
    - Characteristics of Partnership
    - Characteristics – Legal
    - Features of Partnership
    - Merits and Drawbacks of Partnership
    - Types of Partners
    - Types of Partnership
    - Partnership Deed
    - Registration of Partnership
    - Rights, Duties and Liabilities of Partners
    - Implied Authority of Partners
    - Dissolution of Partnership
    - Snapshot of Types of Partners
    - Joint Hindu Family Business – Meaning and Features
    - Review Questions
- Chapter 4: Joint Stock Company
  - Definitions
  - Characteristics of a Company
  - Merits of Joint Stock Company
  - Limitations of Joint Stock Companies
  - Distinction between Partnership and Company Form of Organisation
  - Distinction between Company and Cooperative Society
  - Classification of Companies
    - Classification of Companies on the Basis of Incorporation
    - Classification of Companies on the Basis of Membership
    - Classification of Companies on the Basis of Liability
    - Classification of Companies on the Basis of Control
    - Classification of Companies on the Basis of Nationality
  - Distinction between Private Company and Public Company
  - Privileges of an Independent Private Company
  - Choice of Form of Business Enterprise
  - Evaluation of Different Forms of Business Ownership
  - Review Questions
- Chapter 5: Cooperative Organisation
  - Cooperative Organisation
    - Definition and Meaning
    - Features of Cooperative Organisation
    - Advantages of Cooperative Societies
    - Limitations of Cooperative Societies
    - Organisation and Management of a Cooperative Societies
  - Types of Cooperatives
    - Producers’ Cooperatives or Industrial Cooperatives
    - Industrial Cooperatives or Processing Cooperatives
    - Marketing Cooperatives
    - Consumer Cooperatives
    - Housing Cooperatives
    - Cooperative Farming Societies
    - Distinction between Cooperative Organisation and Company
  - Review Questions
- Chapter 6; Public Enterprises
  - Introduction
  - Definition
  - Objectives of Public Enterprises
    - All-round Industrialisation
    - Basic Industries
    - Heavy Investment
    - Necessities
    - Priority Sectors
    - Balanced Economic Growth
    - Exploitation of Natural Resources
    - Preventing Concentration of Economic Power
    - Employment
    - Enhancing Government Resources
    - Establishing Socialistic Pattern of Society
  - Forms of Organisation of Public Enterprises
    - Departmental Organisation
    - Public Corporation
    - Government Company
  - Reforms in Public Sector
    - Main Elements of Government Policy, 1991
  - Public Accountability
    - Public Accountability of Public Sector Undertakings
    - Features of Public Accountability
  - Review Questions
- Chapter 7: Multi National Companies (MNCs)
  - Various Names of Multi National Company
  - Definitions
    - Models of Multi National Corporation
    - Centralized Model
    - Regional Model
    - Multi National Model
  - Features of MNCs
  - Organisational Designs of MNCs
    - Vertical Integration
    - Horizontal Integration
    - Horizontal Differentiation
  - Types of Organisational Structures
    - Functional Structure
    - International Division Structure
    - Geographic (Area) Division Structure
    - Product Division
    - Matrix Division
  - Advantages of MNCs
  - Drawbacks of MNCs
    - Drawback of Host Countries
    - Drawbacks to Home Country
  - Applicability of MNC Concept
  - Review Questions
- Chapter 8: Size of Business Units and Scale of Operations
  - Meaning of Plant, Firm and Industry
    - Plant
    - Firm
    - Industry
  - Measurement of a Size of Business Units
    - Input Method
    - Output Method
  - Factors Determining the Size of a Business
    - Small is Beautiful: How and Why Small Firms Survive?
  - Benefits of Large-scale Operation
    - Economies in Production
    - Economies in Management
    - Economies in Finance
    - Economies in Marketing
  - Disadvantages of Large Sized Business Units
    - The Concept of Optimum Firm
    - Factors Determining Optimum Size
  - Equilibrium Firm
    - Representative Firm
  - Small Scale Operations
  - Advantages of Small Scale Operations
    - Drawbacks of Small Scale Operations
  - Review Questions
- Chapter 9: Small Scale Industries
  - Introduction
  - Characteristics of SSI
  - Types of SSI
  - Definition
    - Manufacturing Sector
    - Service Sector
  - Historical Definitions
    - Definitions of Small Industry: An Overview
  - Advantages / Significance of SSI
  - Drawbacks of SSIs
  - Problems of SSIs
  - Role of Small Business in Rural India
  - Measures for Solving Problems of SSIs
  - Government Schemes and Agencies for Small Scale Industries
    - National Bank for Agriculture and Rural Development (NABARD)
    - The Rural Small Business Development Centre (RSBDC)
    - National Small Industries Corporation (NSIC)
    - Small Industries Development Bank of India (SIDBI)
    - The National Commission for Enterprises in the Unorganised Sector (NCEUS)
    - Rural and Women Entrepreneurship Development (RWED)
    - World Association for Small and Medium Enterprises (WASME)
    - Scheme of Fund for Regeneration of Traditional Industries (SFURTI)
    - District Industries Centre (DIC)
  - Incentives Offered by Government
  - Review Questions
- Chapter 10: Social Responsibilities of Business
  - Introduction
    - Social Responsibility Strategies
  - Definitions
  - Social Responsibility to Stakeholders
    - Responsibility to Owners (Shareholders)
    - Responsibility to its Employees
    - Responsibility towards Consumers
    - Responsibility to the Community and the Society
    - Responsibility to Government
  - Social Responsibility: A Discussion
    - Arguments for Social Responsibility
    - Arguments Against Social Involvement
  - Business Ethics
    - Code of Business Ethics
    - The Importance of Business Ethics
    - Role of Trade Associations in Promoting Business Ethics
    - Code of Business Ethics
    - Educating the Members of the Trade Association
  - Review Questions
- Chapter 11: Franchising and Networking
  - Modes of Franchising
  - Development of Franchising System
  - Advantages of Franchising
  - Drawbacks
  - Evaluation of Franchise System
  - Networking
    - Definition
  - Sources of Networking
  - Popular Networking Forums for Entrepreneur
  - Industry Associations
  - Special Interest Groups
  - Community Forums
  - Process of Networking
  - Approaches to Entrepreneurial Network
  - Good Networking Practices
  - Review Questions
- Chapter 12: E-Commerce
  - E-Commerce
  - Significance of E-Commerce
    - E-Commerce Domains
    - Prerequisites for E-Commerce
    - E-Commerce Portal
    - Revenue Model
    - Electronic Catalogue
    - Shopping Cart
    - Payment Gateway
    - Delivery Mechanism
  - Review Questions
Part - 2: Management Principles
- Chapter 13: Business Management Concepts
  - Introduction
  - Meaning of Management
  - Definitions of Management
  - Features of Management
  - Management and Administration
  - Management— An Art or Science: A Debate
    - Management as an Art
    - Management as a Science
    - Conclusion
  - Management as a Profession
    - Attributes of Profession
    - Conclusion
    - Additional Barriers to get Recognition as Profession
  - Levels of Management
  - Managerial Skills
  - Role of Manager
  - Importance of Management
    - Importance to the Organization
    - Importance to Economy
  - Scope of Management or Functional Areas of Management
    - Production Management
    - Marketing Management
    - Financial Management
    - Human Resource Management
  - Functions of Management
    - Planning
    - Organizing
    - Staffing
    - Directing
    - Controlling
    - Coordination
  - Management by Exception (MBE)
    - Optimum Utilization of High Paid Executives
    - Accomplishment of Significant Feature
    - Training to Junior and Operational Managers
    - All Round Growth of an Organization
    - MBE – Prerequisite to Concept of Deligation
    - Summary Chart
  - Review Questions
- Chapter 14: Evolution of Management Concepts
  - Introduction
    - Pre-Scientific Management Era (Before 1980)
  - Schools of Management Thought or Approaches to Management
  - Contributions to Management Thought
    - Henry Fayol
    - FW. Taylor Scientific Management
    - Max Webers Theory of Bureaucracy
    - Highlights of Weber’s Contribution
    - Mary Follet’s Philosophy of Management
    - Contribution of Douglas McGregor
    - Contributions of Peter F. Drucker
    - Frank Bunker Gilbreth’s Contribution to Management Thought
    - George Elton Mayo’s Contribution to Management Thought
    - Emerson’s Contribution to Management Thought
    - Contributions of Oliver Sheldon
    - B.S. Rountree’s Contribution to Management
    - Henry Lawrence Gantt’s Contribution to Management
    - Chester I Bernard’s Contribution to Management
    - Summary Chart
    - Recent Developments in Management Thoughts
  - Review Questions
- Chapter 15: Planning
  - Definitions of Planning
  - Nature of Planning
    - Constitutional Features
    - Operational Features
    - Desirable Features
  - Importance of Planning
  - Obstacles to Planning or Limitations of Planning
  - Steps to Make Plans Effective
  - Process of Planning
  - Approaches to Planning
  - Review Questions
- Chapter 16: Decision Making
  - Introduction
  - Definitions of Decision Making
  - Features of Managerial Decisions
  - Characteristics of Decision Making
  - Types of Decisions
    - Procedures
    - Decision on the Basis of Beneficiary
    - Decisions Based on Activity
    - Decisions Based on Nature
    - Decisions on the Basis of Responsibility
    - Decisions Based on Number of Persons
  - Importance/Advantages of Decision Making
    - Identification of Problem
    - Analysis of Problem
    - Examination of the Problem
    - Evolving Alternative Courses of Action
    - Evaluation of Alternatives
    - Selection of the Best Course
    - Implementation
    - Chapter Snapshot
  - Review Questions
- Chapter 17: Strategy
  - Definitions
  - Features of Strategy
  - Strategies and Tactics
  - Levels of Strategy
    - Corporate Level Strategy
    - Business Level Strategy
    - Function Level Strategy
  - Strategy Formulation
  - Strategy Implementation
  - Review Questions
- Chapter 18: OrganiZation and Organization Structure
  - Introduction
  - Definitions of Organization
  - Nature of Organization
  - Process of Designing the Organization
  - Principles of Organization
    - Overall Principles
    - Structural Principles
    - Operational Principles
  - Theories of Organization
    - Classical Theory
    - Human Relation Approach
    - Systems Theory
    - Contingency Approach
  - Organization Structure
    - Characteristics
    - Importance
    - Factors Influencing Organization Structure
    - Designing an Organizational Structure
    - Types of Organization Structure
  - Review Questions
- Chapter 19: Types of Organization
  - Formal and Informal Organization
    - Formal Organization
    - Informal Organization
  - Types of Organization
    - Line Organization
    - Functional Organization
    - Line and Staff Organization
    - Committee Organization
    - Team Based Organization
    - Project Organization
    - Matrix Organization
    - Boundaryless Organization
  - Review Questions
- Chapter 20: Authority and Responsibility
  - Authority
  - Definitions of Authority
  - Characteristics
  - Types of Authority
    - Line Authority
    - Staff Authority
    - Functional Authority
  - Authority and Power
  - Responsibility
    - Characteristics
  - Accountability
  - Review Questions
- Chapter 21: Delegation and Decentralization
  - Delegation
    - Definitions of ‘Delegation of Authority’
    - Meaning
    - Principles Governing Delegation
    - Process of Delegation and Elements of Delegation
    - Advantages of Delegation
    - Problems (Obstacles) in Delegation
  - Decentralization of Authority
    - Meaning
    - Characteristics of Decentralization
    - Distinction between Delegation and Decentralization
    - Advantages of Decentralization
    - Disadvantages of Decentralization
    - Factors that Determine the Degree of Decentralization of Authority
    - Summary Chart
  - Centralization
    - Advantages (Pros) of Centralization
    - Disadvantages (Cons) of Centralization of Authority
    - Summary Chart
  - Review Questions
- Chapter 22: Directing
  - Introduction
  - Definitions
  - Features of Directing
  - Techniques of Direction
  - Importance of Direction
  - Principles of Direction
  - Review Questions
- Chapter 23: Leadership
  - Introduction
    - Definitions of Leadership
    - Qualities of Leadership
    - Qualities of Good Leadership
  - Functions of Managerial Leadership
  - Need for Leadership and its importance
    - Differences between Leader and Boss
  - Styles of Leadership
    - Autocratic Style
    - Participative or Democratic Style
    - Free-Rein Style or Laissez Faire Style
    - Paternalistic Leadership Style
  - Theories of Leadership or Approaches to Leadership
    - Great Man Theory (Approach)
    - Traits Theory (Approach)
    - Behavioural Theory (Approach)
    - Managerial Grid Theory
  - Review Questions
- Chapter 24: Motivation and Morale
  - Motivation
  - Definitions of Motivation
  - Theories of Motivation
    - Maslow’s Theory of Hierarchical Needs
    - Herzberg’s Two-Factor Theory
    - Maslow’s Theory and Herzberg’s Theory – A Comparison
    - Douglas McGregor’s X Theory and Y Theory
  - Morale
    - Promotion of Employee Morale
    - Determinants of Morale
  - Review Questions
- Chapter 25: Communication
  - Nature and Scope of Business Communication
  - Definitions of Communication
  - Characteristics of Communication
  - Process of Communication
    - Components of the Communication Process
  - Principles of Communication
  - Means of Communication
    - Verbal Communication
    - Non-Verbal Communication
  - Dimensions or Directions or Flow of Communication
    - Downward Communication
    - Upward Communication
    - Horizontal Communication
    - Diagonal or Multidimensional Communication
  - Formal and Informal Communication
    - Formal Communication
    - Informal Communication or Grapevine
  - Barriers to Communication
    - Mechanical Barriers
    - Physical Barriers
    - Psychological Barriers
    - Semantic and Language Barriers
    - Interpersonal Barriers
    - Cross-cultural Barriers
    - Organizational Barriers
  - Measures to Overcome Communication Barriers
    - Review Questions
- Chapter 26: Coordination
  - Introduction
  - Definitions
  - Features of Coordination
  - Principles of Coordination
  - Importance of Coordination / Benefits of Coordination
  - Constraints to Coordinations / Problems Encountered in Achieving Coordination
  - Steps for Effective Coordination
  - Techniques of Coordination
  - Types of Coordination
  - Coordination and Managerial Function
  - Review Questions
- Chapter 27: Control
  - Introduction
  - Definitions of Controlling
  - Need for Control or Importance of Control
  - Types of Controls
    - Control Based on Time
    - Control Based on Managerial Hierarchy
  - Measures to Address Opposition to Control Measures
  - Steps in Controlling Process
    - Memory Chart
  - Review Questions
- Index

Dr. K Sundar is Professor, Department of Commerce, Annamalai University. He has over 25 years of UG and PG teaching experience. A prolific author, he has contributed 100 articles in national and international journals. He has authored books including Business Communication, Principles of Management, Human Resource Management, Organisation Behaviour, Business Ethics, Business Management, Business Organisation, Entrepreneurship Development, Human Resource Development and Auditing.

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