IT3404: Business Management

Transcription

1 IT3404: Business Management (Optional) INTRODUCTION This course on Business Management is one of the five courses designed for Semester 3 of Bachelor of Information Technology Degree program. It starts with introduction to evolution of management and moves to managerial processes and the economics of the business management covering 60 hours of lectures. CREDITS: 04 LEARNING OUTCOMES After successful completion of this course, students will be able to: Apply management theories and practices in the decision making process Identify the skills needed by managers and managerial roles Recognize the importance of leadership qualities and motivation theories Discuss Marketing Strategies based on Marketing Principles Interpret Financial Statements and use Financial Ratios in the decision making process Apply economic principles in day to day business operations ONLINE LEARNING MATERIALS AND ACTIVITIES You can access all learning materials and this syllabus in the VLE: if you are a registered student of BIT degree program. It is very important to participate in learning activities given in the VLE to learn this subject. ONLINE ASSIGNMENTS The assignments consist of two quizzes, assignment quiz 1 (It covers the first half of the syllabus) and assignment quiz 2 (It covers the second half of the syllabus). Maximum mark for a question is 10, minimum mark for a question is 0 (irrespective of negative scores). Final assignment mark is calculated considering 40% of assignment quiz 1 and 60% of assignment quiz 2. Pass mark for the online assignments in a course is 50. You are advised to do 1

2 online assignments before the final exam of the course. It is compulsory to pass all online assignments to partially qualify to obtain year 2 certificate. FINAL EXAMINATION Final exam of the course will be held at the end of the semester. Each course in the semester 3 is evaluated using a two hour question paper which consists of MCQs and 3-4 structured questions. OUTLINE OF SYLLABUS Topics 1. Evolution of Management 2. Managerial Roles & Skills 3. Management Process 4. Organizational Structure & Behavior 5. Motivation & Leadership 6. Marketing 7. Introduction to Accounting Hours Introduction to Double Entry Account System & Trial Balance Financial Statements : The Balance Sheet 10. Financial Statements : The Profit & Loss Account Introduction to the Analysis & Interpretation of Accounting Statements Managerial Economics 08 Total Hours 60 2

3 REQUIRED MATERIALS Main Reading: Ref 1 : Management (6 th edition), By James A.F. Stoner & R. Edward Freeman, ISBN: , Prentice Hall Ref 2 : Principles of Marketing (11 th edition) By Philip Kotler & Gary Armstrong, ISBN: , Prentice Hall of India. Ref 3 : Financial Accounting in Sri Lanka (1 st edition), by Hema Wijewardena, ISBN: , Wijaya Publishing Ref 4 : Economics (10 th edition), By Lipsey & Chrystal ISBN: , Oxford University Press Supplementary Reading Ref 5 : Business Accounting (6 th edition), By Frank Woods & Alan Sangster. ISBN: , Prentice Hall 3

4 DETAILED SYLLABUS: Section 1: Evolution of Management (3 Hrs.) [Ref1] Define what you mean by management Explain the classical and behavioral theories of management Describe the different approaches to management 1.1. Introduction to Management [Ref1: pg 32-39] 1.2. Classical Theories of Management [Ref1: pg ] 1.3. Behavioral Theories of Management [Ref1: pg 67-70] 1.4. Systems & Contingency Approach to Management[Ref1: pg 72-75] 1.5. Modern Approach to Management [Ref1: pg 77-78] Section 2 : Managerial Roles & Skills (4 Hrs.) [Ref1] Identify different types of managers State the different roles of a manager Identify various management levels and skills Describe the challenges of management 2.1. Types of Managers [Ref1: pg 42-43] 2.2. Management Level & Skills [Ref1: pg 43-44] 2.3. Managerial Roles [Ref1: pg 40-41] 2.4. The Challenge of Management [Ref1: pg 44-48] 4

5 Section 3 : The Management Process (10 Hrs.) [Ref1] Explain the process of management Discuss the techniques such as SWOT and Porter s Forces in Environmental analysis Describe the steps involved in analyzing and planning Identify the concepts of organizing Identify the importance of leading process of management Identify the steps in controlling process 3.1. Introduction to the Management Process [Ref1: pg ] 3.2 Environmental Analysis [Ref1: pg and ] 3.3. Planning Process & Strategic Planning [Ref1: pg ] 3.4. Organizing [Ref1: pg ] 3.5. Leading [Ref1: pg , ] 3.6. Control process & Types of Controls [Ref1: pg ] Section 4 : Organizational Structure & Behavior (4 Hrs.) [Ref1] Summarize different organizational structures Define the role of coordination, communication and delegation Explain the concept of decentralization and empowerment Summarize different authority levels 4.1. Organizational Structures [Ref1: pg ] 4.2. Delegation & Empowerment [Ref1: pg ] 5

6 4.3. Coordination [Ref1: pg ] 4.4. Communication [Ref1: pg ] Section 5 : Motivation & Leadership (6 Hrs.) [Ref1] Identify different theories in motivation Apply different theories and approaches in leadership 5.1. Introduction to Motivation Content Theories [Ref1: pg ] Process Theories [Ref1: pg ] Reinforcement Theories [Ref1: pg ] 5.2. Introduction to Leadership Trait Approach [Ref1: pg ] Behavioral Approach [Ref1: pg ] Contingency Approach [Ref1: pg ] Modern Leadership Theories [Ref1: pg ] Section 6 : Marketing (8 Hrs.) [Ref2] Describe the fundamental principles in marketing Identify the elements of marketing mix Explain the process of segmenting, targeting and positioning Discuss the product life cycles and BCG matrix Express the pricing and marketing strategies 6

7 6.1. Introduction to Marketing [Ref2: pg 4-12 and 22-31] 6.2. Marketing Mix [Ref2: pg 46-51] 6.3. Segmentation, Targeting & Positioning [Ref2: pg ] 6.4. Product Life Cycles & BCG Matrix [Ref2: pg and ] 6.5. Pricing Strategies [Ref2: pg ] Loss Leader Pricing [Ref2: pg 341] Odd Ending Pricing Price Lining Pricing Quantity Discount Pricing [Ref2: pg ]` Cumulative Pricing 6.6. Marketing Strategies [Ref2: pg ] Basic Competitive Strategies [Ref2: pg ] Competitive Positions [Ref2: pg ] Market Leader Strategies [Ref2: pg ] Market Challenger Strategies [Ref2: pg ] Market Follower Strategies [Ref2: pg 542] Market Nicher Strategies [Ref2: pg ] Section 7 : Introduction to Accounting (2 Hrs.) [Ref3] Identify the basic principles of financial accounting Explain the different forms of ownership in business entities 7.1. Financial and Management Accounting (Ref3 : pg. 5-8) 7.2. Forms of Business Organizations (Ref3 : pg.13-14) 7.3. Primary objectives of a business (Ref3 : pg.14-15) 7

8 7.4. Basic Principles of Accounting (Ref3 : pg.22-24) Section 8 : Introduction to Double Entry Account System & Trial Balance (4 Hrs.) [Ref3] Discuss the principles of Double Entry Analyze Ledger Accounts and Trial Balances Identify the procedures used in a double entry accounting system Identify the relationship between the trial balance and the double entry system Explain the usefulness & limitations of the trial balance 8.1. Principles of Double Entry (Ref3 :pg 65-72) The account, ledger and journal (Ref3 :pg , pg. 71 and pg.98) The system of debits and credits (Ref3 :pg 65-70) The double-entry system (Ref3 :pg 72-78) 8.2. The Trial Balance & its limitations (Ref3 :pg ) Section 9 : Financial Statements : The Balance Sheet (3 Hrs.) [Ref3] Discuss the concepts behind the Balance Sheet Identify the transactions which has an effect on the Balance Sheet Extract data from the Balance Sheet & comment on the performance of the organization 9.1 Balance sheet of a sole proprietor (Ref3 :pg 29-32, pg ) Assets (Ref3 :pg 32; pg ) 8

9 9.1.2 Owner s equity (Ref3 :pg 33-35) Liabilities (Ref3 :pg 35-36; pg 189) The accounting equation (Ref3 :pg 36-37) Transactions affecting and not affecting owner s equity (Ref3 :pg 37-41) Effect of transactions on the balance sheet (Ref3 :pg 37) 9.2 Transaction and their effect on Balance Sheet (including examples) (Ref3 :pg 37-52) Section 10 : Financial Statements : The Profit & Loss Account (3 Hrs.) [Ref3] Discuss the concepts behind the preparation of a profit and loss account Analyze sales, other income and expenses in a balance sheet Extract information from a profit and loss account and comment on the performance of the organization 10.1 Key features of accounting for a trading business (Ref3 :pg ) 10.2 Value of sales (Revenue) Returns & allowances (Ref3 :pg ) Net sales (Ref3 :pg 177) 10.3 Cost of sales (Ref3 :pg ) Value of inventory (Ref3 :pg ) Discounts (Ref3 :pg ) Returns & allowances (Ref3 :pg ) Transport cost (Ref3 :pg ) 10.4 Operating Expenses & profit or loss (Ref3 :pg 183) 9

10 10.5 Example (Ref3 :pg. 178, pg 185) Section 11 : Introduction to the Analysis & Interpretation of Accounting Statements (4 Hrs.) [Ref3] Define ratio analysis Identify different uses of financial statement analysis Extract necessary information from a given financial statement to calculate ratios to comment on the profitability, liquidity and financial stability of the organization Type of ratios and its use (Ref3 :pg 625) Profitability ratios (Ref3 :pg ) Liquidity ratios (Ref3 :pg ) Financial stability ratios (Ref3 :pg ) Limitations of financial statement analysis (Ref3 :pg ) Section 12 : Managerial Economics (9 Hrs.) [Ref4] Identify the laws of demand and supply Identify different types of markets Discuss the principles in production and costs in the short run Explain the basics of macro economic principles Introduction to Economics (Ref4 : pg. 1-10) Demand, Supply & Price (Ref4 : pg ) Types of Markets 10

11 Perfect Competition (Ref4 : pg ) Monopoly (Ref4 : pg ) Oligopoly (Ref4 : pg , ) Production & Cost in the Short Run (Ref4 : pg ) Macro Economic Issues (Ref4 : pg 367) 11