Punjab College of Commerce

Course Code: Program: M.com Credit Hours: 3 Course Description:

Course Title: Principles of Management First Semester Total Sessions: 32

Simply speaking management is what managers do and this course is precisely about that! The course deals in detail with the 4 basic management functions of planning, organizing, leading and controlling. Special consideration has been given to highlight the applied or practical side of management rather than theories alone. For this purpose examples from Pakistani and international context of business and management are presented which are real life situations as I encountered in my career as a manager and a management consultant. Another aspect which adds depth to this course is the extensive use of cases and managerial situations so that the students acquire the skills and knowledge to encounter these issues when faced in their work life. This is a core course and the main objective is to arouse participants interest in the field of management and its related areas. Two hundred years ago, before the industrial revolution, the concept of professional management and managers did not exist. Today millions of people around the world are managers. These managers coordinate and control organizational resources, lead their people into the future, and help their organizations respond to everything from technological changes to social expectations. Management touches everyones daily lives in a variety of ways: managers run the largest and smallest businesses, hospitals and schools, charities and art organizations, government and military organizations. Even for a manager as experienced as Bill Gates (Chairman of Micro Soft), management is a complex, challenging activity. To keep Microsoft on top, Gates needs excellent management skills and a solid understanding of his role and responsibilities within the company, and he needs to share his goals and his vision with everyone else in the organization.

This course starts with an examination of basic concepts of management and interrelationship between management and organizations. Next its highlights the detail concepts of four basic functions that makes up the management process and a look at what managers actually do during their management careers. Learning Objectives: After studying this course the students should be able: a. Define management and explain the characteristics of Managers in organizations b. List and describe major management theories as represented through the history of modern management thought. c. Describe the internal and external environments of management. D. Discuss ethics and social responsibility in the context of management e. To analyze and discuss planning, organizing, controlling, decision making, communication, motivation, leadership, human resource management, information systems. f. Develop theoretical and critical thinking skills relevant to both academic and management practice. g. Translate and apply complex conceptual and theoretical material to current organizational issues. h. To promote group interaction through class discussion.

i. Demonstrate written communication skills appropriate to the profession of

management. Recommended Text Book: Management (Latest Edition) By: Supplementary Text Books: Stephen P. Robbins & Mary Coulter

Course Contents: INTRODUCTION TO MANAGEMENT: Objectives and constraints of management, managerial environment, management theory, management in the twenty-first century, environments, reinventing organisations, culture and multiculturalism, quality. PLANNING Nature, objectives, types and steps, decision making, planning strategic management, strategy implementation. ORGANIZING: Organisational design and organisational structure, power and the delegation of authority, human resource management, managing organisational change and innovation. LEADING: Managing and the human factor, motivation, leadership, team and teamwork, communication and negotiation. CONTROLLING: Methods, techniques and process of control, effective information systems. ENVIRONMENT AND STRATEGY: control, operations management, the evolution of and natural

organisational

social responsibility and ethics, globalisation and management, inventing and

Environment and market analysis: PEST analysis, competitive forces,

static and dynamic

environments, general environmental trends (e.g. Globalization, quality etc), the concept of strategy: planned, emergent, muddling through, the needs for organizations to plan for the long term: advantages and disadvantages of strategic planning.