PGP IIMM 2013 15 - 2nd - Sem PDF

PGP-IIMM (PG) II SEMESTER_2013-15
RELEASE DATE: MAY 13

PROGRAMME STRUCTURE FOR
IIMM (PG)
S No Subject Credit
1. Economics for Managerial Decision Making - II 2
2. Executive Communication 2
3. Financial Management 3
4. Human Resource Management 2
5. Operations & Optimization Research 3
6. Management Information System & KM 3
7. National Economic Planning (Theory &
Presentation)
3
8. Sales Management 2
Total Credits 20
IMPORTANT NOTE
All the students of IIMM (PG) will study all the eight papers indicated in our course curriculum
for Semester II. However, out of these students whoever opt for an additional MBA degree
from MGU will be examined in the first five papers directly by the university and in the rest
three by IIPM. Those who, however, decide not to opt for MGU degree will still write
examination for all the eight subjects, but all these papers will be administered by IIPM in their
case.


ECONOMICS FOR MANAGERIAL DECISION MAKING-II
(MAAGERIAL ECONOMICS)

COURSE DURATION: 20 HOURS
COURSE CREDITS: 2

1. INTRIDUCTION
1.1 Economics and Managerial Decision Making: Managerial decision making under perfect
information, risky, and uncertain situations
1.2 Managerial Economics: Definition and scope; Distinction between Economics and
Managerial Economics

2. CONSUMER DECISION MAKING
2.1 Demand Side of the Market: Managerial implications of factors influencing demand for
nondurables, durables, and services; Strategic responses in terms of product mix, packaging,
quality, pricing, promotion, placement, etc.
2.2 Logic of Buying/Consumption: Attributes approach for explaining consumer choices
(Note: There will definitely be some kind of question from this topic in the end term
examination)

3. PRODUCERS DECISION MAKING
3.1 Demand and Supply Elasticities: Elasticities and production & pricing lessons for a
manager
3.2 Cost Dimensions: Managerial decision making and non traditional (engineering,
incremental) costs, etc
3.3 Economies in operation: Economies/Diseconomies of scale and scope; Learning curve
phenomenon; Managerial implications.

4. PRICING DECISIONS: ALTERNATIVE PARADIGMS OF DECISION MAKING
4.1 Neoclassical Model: Revenue, equilibrium, and profit positions; Critique
4.2 Sales Revenue Maximisation Model: Description; Critique
4.3 Behavioural Approach: Details; Applicability
4.4 Managerial Enterprise Model: Explanation; Relevance
4.5 Commentary on all the models put together

5. PRICING DECISIONS: OLIGOPOLISTIC MARKETS
5.1 Oligopoly: Meaning; Strategic (interdependent) vs. nonstrategic (independent) firm
behaviour; Pricing (administered) in oligopoly; Why do firms grow big; Basic dilemma of
oligopoly (cooperative vs. noncooperative behaviour); Dynamics of oligopolistic industries
5.2 Oligopoly Pricing Through Game Strategic Behaviour: Passive vs. aggressive
behaviours; Strategic responses
5.3 Oligopoly Pricing Under Specific Assumptions: Duopoly: Meaning, Cournots model,
Chamberlains model; Oligopoly: Collusive pricing; Noncollusive pricing, including Kinked
demand curve and price leadership models
5.4 Oligopoly and the economy

(Note: The student, in addition to 2 prescribed texts, must also look up Lipsey & Chrystal-
chapter on Oligopoly_for studying this topic)

6. PRICING DECISION: SPECIFIC MODELS OF PRICING
6.1 Multiplant operations and Pricing
6.2 Cartelization and Pricing
6.3 Transfer Pricing

7. PRICING DECISION: DECISION IN PRACTICE
7.1 Rule of Thumb Pricing
7.2 Mark up Pricing
7.3 Product Line Pricing
7.4 Price discovery through auction
7.5 Promotional Pricing

8. PRICING DECISIONS: NEW PRODUCT PRICING
8.1 Setting the Initial Price
8.2 Adjusting Price Overtime
(Note: Topics under units 6,7, and 8 must be discussed in detail. Minimum 2 questions shall be
asked from these units)

ESSENTIAL TEXTS
P.L. MEHTA: Managerial Economics (Sultan Chand & Sons: Latest edition) Only select
chapters
IVON PING: Managerial Economics (Blackwell Publishers) Select chapters

IMPORTANT NOTES
While the above two texts cover major portion of the syllabus, the faculty may need to
use other books for teaching some topics
In case of difficulty in locating relevant material for any specific topic, the faculty may
contact Delhi centre
Treatment shall be nonmathmatical and application oriented. Teaching shall be case/real
life situations based. End term examination will have applications based questions
Game Theory topic, if asked in the examination, may be numerical solution based (2x2
format).
The students may be advised to review Game Theory unit of O.R paper before they
appear for this examination.
The exact format of the question paper shall be communicated later.


EXECUTIVE COMMUNICATION

COURSE CREDITS: 02

SECTION- A: WRITTEN COMMUNICATION

1. PREPARING GOOD- AND NEUTRAL- NEWS MESSAGES
Choosing the Channel or Medium
The Deductive Organizational Approach
Good- News Messages: Positive News; Thank- You and Appreciation Messages: Thank- You
Messages, Appreciation Messages
Routine Claims: Claim Message; Favorable Response to a Claim Message
Routine Requests: Routine Request; Favorable Response to a Routine Request; Favorable
Response to A Favor Request; Form Letters For Routine Response
Routine Messages About Orders and Credit: Acknowledging Customer Orders; Providing
Credit Information; Extending Credit
Procedural Messages

2. PREPARING BAD- NEWS MESSAGES
Choosing An Appropriate Channel And Organizational Pattern: Channel Choice And
Commitment To Tact; Cultural Concerns; Use Of The Inductive Approach To Build Goodwill;
Advantages Of Inductive Approach; Exceptions To The Inductive Approach
Developing a Bad- News Message: Writing the Introductory Paragraph; Presenting The Facts,
Analysis, And Reasons; Writing The Bad- News Statement; Offering A Counterproposal Or
Silver Lining Idea; Closing Positively
Refusing A Request
Denying A Claim: Denying Credit
Delivering Constructive Criticism: Communicating Negative Organizational News

3. PREPARING PERSUASIVE MESSAGES
Persuasion Strategies: Plan Before You Write: Know the Product, Service, Or Idea, Know The
Receiver, Identify The Desired Action, Apply Sound Writing Principles
Use the Inductive Approach: Gain Attention; Gain Interest By Introducing The Product,
Service, Or Idea; Create Desire By Providing Convincing Evidence; Motivate Action
Persuaive Requests: Making A Claim; Asking A Favor; Requesting Information; Persuading
Within An Organization; Sales Messages

4. REVISING WRITTEN MESSAGES
Cultivate a Frame Of Mind For Revising And Proofreading
Use Systematic Procedures For Revising
Check the Content To Ensure Ethical Communication 200
Check For Logical Development And Unity: Develop Coherent Paragraphs: Position The
Topic Sentence Appropriately, Link Ideas To Achieve Coherence, Vary Paragraph And Sentence
Length

Craft Powerful Sentences: Use Correct Sentence Structure; Rely On Active Voice; Emphasize
Important Ideas: Sentence Structure, Repetition, Words That Label, Position, Quantity And
Placement
Improve Readability: Understanding Readability Measures; Use Contemporary Language:
Eliminate Outdated Expressions, Eliminate Cliches; Use Simple, Informal Words; Communicate
Concisely; Apply Visual Enhancements To Improve Readability: Chunking, Lists, Headings,
Table And Graphs, Lines And Borders, Relevant Images
Project A Positive, Tactful Tone: Be Sensitive To International Audiences

5. DESIGNING AND DELIVERING BUSINESS PRESENTATIONS
Planning an Effective Business Presentation: Identify Your Key Message; Know Your
Audience
Organizing the Content: Introduction; Body; Close
Designing Compelling Presentation Visuals: Types Of Presentation Visuals; Design Of
Presentation Visuals: Effective Slide Content; Space Design And Topography: Effective Use Of
Color
Refining Your Delivery: Delivery Method; Vocal Qualities; Delivery Style: Before The
Presentation, During The Presentation, Positive Body Language While Making Presentations,
Dealing With Nervousness, After The Presentation, Use Questions To Encounter Audience
Participation, Tips For Answering Questions
Special Presentation Situations: Speaking To Culturally Diverse Audiences; Team
Presentation; Distance Presentations

6. PREPARING RESUMES AND APPLICATION MESSAGES
Preparing For The Job Search: Gathering Essential Information
Identifying Potential Career Opportunities: Using Traditional Sources: Printed Sources,
Networks, Career Services Centers, Employers Offices, Employment Agencies And
Contractors, Professional Organizations; Using Electronic Job Searches: Locating Career
Guidance Information, Identifying Job Listings
Planning A Targeted Resume: Standard Parts Of A Resume: Identification, Job And/Or Career
Objective, Career Summary; Qualification: Education, Work Experience, Honors And Activities,
Personal Information, References; Types Of Resumes: Chronological Resume, Functional
Resume, Chrono-Functional Resume
Preparing Resumes: Preparing A Print (Designed) Resume; Preparing A Scannable Resume:
Formatting A Scannable Resume, Making A Scannable Resume Searchable; Adapting To
Varying Electronic Submission: Requirements
Supplementing A Resume: Professional Portfolios; Employment Videos
Composing Application Messages: Persuasive Organizaion; Gain the Receivers Attention,
Provide The Evidence of Qualifications, Encourage Action; General Writing Guidelines;
Finishing Touches

7. INTERVIEWING FOR A JOB AND PREPARING EMPLOYMENT MESSAGES
Types of Employment Interviews: Structured Interviews; Unstructured Interviews; Stress
Interviews; Group Interviews; Virtual Interviews
Preparing For an Interview: Study the Prospective Employer; Study Yourself; Plan Your
Appearance; Plan Your Time and Materials

Practice For The Interview
Conducting a Successful Interview: The Opening Formalities; The Information Exchange; The
Closing
Preparing Other Employment Messages: Application Forms; Follow-Up Messages; Thank-
You Messages; Job-Acceptance Message; Job- Refusal Message; Resignations:
Recommendations

8. ETIQUETTE ADVANTAGE IN BUSINESS COMMUNICATION
What Do Working Executives Gain By Etiquette
Introductions, Greetings, and Art Of Conversation: The Handshake And Namaste: Culture
Lens; Introduction And Greetings: Culture Lens; Hugs And Kisses: Culture Lens; Exchange of
Visiting Cards: Cultural Lens; The Art Of Conversation: Cultural Lens
Dressing and Grooming: Body Hygiene
Norms of Business Dressing: Footwear And Necktie; Trousers And Shirts; Cultural Lens;
Office Etiquette: Work Space Etiquette, Cultural Lens, Doors, Elevators, And Escalators; Gender
Bender: Cultural Lens
Business Meals: A Good Host: Culture Lens; Good Guests: Culture Lens; Seating And Serving:
Culture Lens; Utensils; American Style and European Style; Reading the Placement of
Silverware: Culture Lens
Table Manners: Culture Lens
Special Foods
Buffets and Cocktails: At the Bar; Passed Tray Food Service; Buffet Table
Wining Etiquette: Drinking Rules; Wines and Cocktails; Serving Wine; Toasting: Culture Lens
Gifting In Business: Business Gifts; Culture Lens
Travelling: Airport and Hotels; Air Travel; Hotels

SECTION B: ORAL COMMUNICATION

SESSION 1
Introduction To Business Presentation

SESSION 2
Presentaion 1 (5 Mins) + Feedback

SESSION 3
Communication Activity by Faculty

SESSION 4
Presentation 2 (10 Mins) + Feedback

SESSION 5
Communication Activity by faculty

SESSION 6
Group Activities / Management Games

SESSION 7
Presentation 3 (15 Mins) + Feedback

SESSION 8
Resume writing ex

SESSION 9
Presentation 4 (30 Mins)* (Video-recording)

SESSION 10
Individual Feedback session

* To be judged by a 3-member panel consisting of : Excom Faculty, Senior Excom Faculty &
SMG representative
(Excom Faculty to give student based feedback, Senior Excom Faculty to assess performance of
Excom Faculty & SMG representative to provide Placeability Index to students)

MOST IMPORTANT: Every student to be given a CD with recordings of their
performances (refer the sessions above that need to be recorded) from trimester I II to
showcase their transformation as a speaker. A personalized written feedback for every
student also needs to be documented along with the CD and should be given to the students
by the end of Trimester II.

ESSENTIAL TEXT (FOR WRITTEN COMMUNICATION)
LEHMAN, DUFRENCE, SINHA: BCOM- A South Asian Perspective (Cengage
Learning:2011) Chs. 6,7,8,9,13,14,15,16

IMPORTANT NOTES
The faculty may like to exercise his own discretion to ask the students to learn certain
topics (from written communication section) on a self learning basis. Or, else, the written
communication and practical exercises can be combined.
The University will hold separate examination on Written Communication
The oral communication session plan has been finalized by Prof. Rajita Chaudhuri. If the
Excom faculties have any queries regarding it they should contact Mr. Shoib Ahmad for
any clarifications, and not Mr. Mirza Aamir Beg.


FINANCIAL MANAGEMENT

COURSE CREDITS: 03

1. OVERVIEW OF FINANCIAL MANAGEMENT
1.1 Finance in the Organizational Structure of the Firm: Role of finance in a typical business
organization; Various responsibilities: Forecasting and planning; Investment and financing
decisions, coordination and control, dealing with the financial market, risk management
1.2 Corporate Goals: Maximise shareholders wealth; Social responsibility; Stock price
maximisation and social welfare.
1.3 Agency Relationships: Stockholders vs. Managers: Managers as guardians of
stockholders interests; Stockholders (through managers) vs. creditors.
1.4 Managerial Actions to Maximize Shareholders Wealth; Maximisation of stock price;
Rationale of maximising EPS.

2. FINANCIAL STATEMENTS, CASHFLOWS, AND TAXES
2.1 Financial Statements and Reports: Annual report; Balance Sheet; Income statement;
Statement of retained earnings; Statement of cash flows
2.2 Balance sheet: Balance sheet and its constituents; Saliont points about balance sheet.
2.3 Income Statement: Itemized details of Income statement
2.4 Statement of Retained Earnings
2.5 Net cash flow
2.6 Statement of Cash Flows: Factors determining cash position and statement of cash flows
2.7 Modifying Accounting Data for Managerial Decisions: Operating assets and operating
capital; Non- operating profit after taxes (NOPAT); Free cash flows and its calculation
2.8 MVA and EVA: Market value added; Economic Value added
2.9 The Indian Income Tax System: Corporate taxes; Personal taxes; Interest paid; Interest
earned; Dividend paid and revised; Tax loss carry back and carry forward; Capital gains;
Depreciation; Other items.
2.10 Closing the books

3. ANALYSIS OF FINANCIAL STATEMENTS
3.1 Ratio Analysis
3.2 Liquidity Ratios: Ability to meet short term obligation: The current ratio
3.3 Asset Management Ratios: Inventory turnover ratio; Days sales outstanding; Fixed asset
turnover ratio; Total assets turnover ratio
3.4 Debt Management Ratio: Financial leverage; Total debt to total assets; Interest earned ratio;
EBDITA coverage ratio
3.5 Profitability Ratios: Profit margins on sales; Basic earning power (BEP); Return on total
assets; Return on common equity
3.6 Market Value Ratios: Price/ earning ratio; Price/ cash flow ratio; Market/ book ratio
3.7 Trend Analysis: Ratios over time
3.8 Du pont Equation: Tying the ratios together
3.9 Comparative Ratios and Benchmarking
3.10 Uses and Limitations of Ratio Analysis

3.11 Problems with ROE
3.12 Looking Beyond the Numbers: Qualitative factors in evaluating performance.

4. THE FINANCIAL ENVIRONMENT: MARKETS, INSTITUTIONS, AND INTEREST
RATES
4.1 Financial Markets: Meaning; Types: Physical assets vs. Financial asset, spot vs. future,
Money Vs. capital, Primary vs. Secondary, Private Vs. public; various financial (money and
capital) markets in India, participants therin, and instruments of operation; Recent trends in
financial markets (PE, VC, etc)
4.2 Financial Institutions: Transfer of capital (direct, underwriting, intermediation); Details of
investment banking houses in India; Details of financial intermediaries
4.3 Stock Market: Meaning; Physical location stock exchanges; virtual stock exchanges; OTC
exchanges.
4.4 Cost of Money: Meaning; Determinants: Production opportunities, time preferences for
consumption, risk, and inflation.
4.5 Interest Rate Levels: Supply-demand factors; Types of capital and interest rate, etc.
4.6 Determinants of Market Interest Rates: Real risk free rate; Quoted/nominal risk free rate;
Inflation premium; Default risk premium; Liquidity premium; Maturity risk premium
4.7 Term structure of Interest Rates: Meaning; Yield curve
4.8 Determinants of shape of yield curve: Determining factors
4.9 Yield curve and future Interest Rates: Expectations theory
4.10 Investing Overseas and Risks Involved: Country risk; Exchange rate risk
4.11 Other factors Influencing Rate of Interest: Monetary policy of RBI; Budget
deficits/surpluses; International factors; Business activity
4.12 Interest Rates and Business Decisions: Saving and investment decisions

5. RISK AND RATES OF RETURN
5.1 Investment Returns
5.2 Standalone Risks: Probability distributions; Expected rate of return; Measuring standalone
risk: S.D., Coef. Of variation; Risk aversion and requirement returns
5.3 Risk in a portfolio context: Portfolio returns; Portfolio risk, Diversification vs. market risk,
capital asset pricing model (CAPM); Concept of beta and CAPM
5.4 Relationship between Risk and Rates of Return: Market risk premium; Impact of
inflation; Change in risk aversion; Change in a stocks Beta coefficient
5.5 Physical Assets vs. Securities
5.6 Some concerns about Beta and the CAPM
5.7 Volatility vs. Risk

6. TIME VALUE MONEY
6.1 Time Lines
6.2 Future Value: Present value vs. future value; Problem format; Graphic view of the
compulsory process
6.3 Present Value: Fair or equilibrium value; Discounting; Graphic view
6.4 Solving the PV/FV for Interest Rate and Time: Solving for i; Solving for time
6.5 Future Value of an Annuity: Ordinary annuities; Annuities due
6.6 Present value of an Annuity: Ordinary annuities; Annuities due

6.7 Perpetuities
6.8 Uneven Cashflow streams: PV of an uneven cash flow stream; FV of an uneven cash flow
stream; Solving for i with cashflow streams
6.9 Semiannual and Other Compounding Periods: Annual and Semiannual compounding;
Nominal vs. effective rates
6.10 Fractional time periods
6.11 Amortized loans: Full and partial (balloon loans)

7. FINANCIAL ASSETS: BONDS
7.1 Introduction: Meaning; Who issues them.
7.2 Key Characteristics: Par value; Coupon interest rates; Maturity date; Call provisions;
Sinking funds; Other features
7.3 Bond Valuation: Finding the value; Changes in bond values over time
7.4 Bond Yields: Yield to maturity; Yield to call; Current yield
7.5 Bond Riskiness: Interest rate risk; Reinvestment rate risk; Comparison
7.6 Default Risk: Various types of corporate bonds: Mortgage, debentures, subordinated; Bond
ratings: Criteria; importance

8. FINANCIAL ASSETS: STOCKS
8.1 Legal Rights and Privileges of stockholders: Control of the firm; Preemptive right
8.2 Types of common stock
8.3 Market for Common Stock: Types of transactions
8.4 Common Stock Valuation: General terms: Market price, intrinsic value, growth rate,
required rate of return, expected rate, actual realized rate, dividend yield, expected total return;
Expected dividends on the basis for stock values
8.5 Constant Growth Stocks: Basic idea; Dividend and earning growth; Use of model;
Expected rate of return on a constant growth stock
8.6 Stocks with Nonconstant Growth: Supernormal/nonconstant stocks and their valuation
8.7 Corporate valuation: Corporate value model; Total company vs. dividend growth model
8.8 Stock Market Equilibrium: Meaning; Changes in equilibrium stock prices; Efficient market
hypothesis; Levels of market efficiency: Weak form, semistrong form, strong form; Implications
of market efficiency; Stock market and efficiency; Reading stock market quotes in business
publications

9. COST OF CAPITAL
9.1 Weighted Average Cost of Capital
9.2 Basic Definitions
9.3 Cost of Debt
9.4 Cost of preferred stock
9.5 Cost of Retaining Earnings: CAPM approach; Bond yield plus risk premium approach;
DCF approach
9.6 Cost of New common stock
9.7 Composite, or Weighted Average, cost of capital (WACC)
9.8 Factors Affecting Composite Cost of Capital: Controllable factors: Level of interest rates,
tax rates; Noncontrollable factors: Capital structure policy, investment policy
9.9 Adjustment the cost of capital for Risk

9.10 Problem Areas in Cost of Capital: Depreciation generated funds, privately owned firms,
measurement problems, cost of capital for projects of different riskiness, capital structure
weights

10. CAPITAL BUDGETING
10.1 Meaning and Importance; Capital Budgeting; Capital budgeting & security valuation
10.2 Generating Ideas for Capital Projects
10.3 Capital Budgeting Decision Rules: Pay back period; NPV and its rationale; IRR and its
rationale
10.4 NPV vs. IRR: NPV rankings and cost of capital; Independent projects; Mutually exclusive
projects; Multiple IRRs
10.5 Modified IRR

11. CASHFLOW ESTIMATION AND RISK ANALYSIS
11.1 Estimating Cash flows
11.2 Identifying the Relevant Cash flows: Project cash flow vs. accounting income: Costs of
fixed assets, noncash charges, charges in net operating working capital, interest expenses;
Incremental cash flows: Sunk costs, opportunity costs, externalites; Timing of cash flow
11.3 Evaluating Capital Budgeting Projects: Introduction; Analysis of the cash flows;
Decision making
11.4 Project Risk Analysis
11.5 Stand-Alone Risk: Sensitivity analysis; Scenario analysis; Monte Carlo simulation

12. CAPITAL STRUCTURE AND DIVIDEND POLICY: LEVERAGE
12.1 Target Capital structure
12.2 Business and financial Risk: Business risk; Operating leverages; Financial risk
12.3 Optimal Capital Structure: WACC and capital structure changes; Optional capital
structure
12.4 Capital Structure Theory: Effect of taxes; Effect of potential bankruptcy; Trade off
theory; Signalling theory; Debt financing to constrain managers
12.5 Checklist for Capital Structure Decisions: Sales stability, asset structure, operating
leverage, growth rate, profitability, taxes, control of management, management attitude, lender
and rating agency attitude, market conditions, firms internal conditions, financial flexibility
12.6 Variations in Capital Structures

13. DIVIDENDS AND SHARE PURCHASES
13.1 Dividends vs. Share Gains: Introduction; Dividend irrelevance theory; Bird in the
hand theory; Tax preference theory; Comparisons
13.2 Other Dividend Policy Issues: Information content (Signalling) hypothesis; Clientele
effect
13.3 Dividend stability
13.4 Divident policy in Practice: Target payout ratio-residual dividend model; Earnings, cash
flows, and dividends; Payment procedures
13.5 Dividend Reinvestment Plans
13.6 Overall factors Influencing Dividend Policy: Constraints; Investment opportunities;
Alternative sources of capital; Effect of dividend policy on cost of retained earnings

13.7 Overview of Dividend Policy Decision
13.8 Stock Dividends and stock splits: Stock splits; Stock dividends; Effect on stock prices
13.9 Stock Repurchases: Introduction; Effect of stock repurchases; Advantages; Disadvantages

14. WORKING CAPITAL MANAGEMENT: MANAGING CURRENT ASSETS
14.1 Basic Terminology
14.2 Cash Conversation Cycle: Cash conversion cycle model; Shortening the cash conversion
cycle; Benefits
14.3 Zero Working Capital
14.4 Alternative current Asset Investment Policies: Relaxed, restricted, and moderate asset
policy; Components of working capital
14.5 Cash Management: Reasons for holding cash; Advantages of holiday adequate cash and
near cash assets
14.6 Cash Budgets
14.7 Cash Management Techniques: Cash flow synchronization; Speed up the check clearing
process; Using float; Acceleration of receipts: Lockboxes, payment by wire/automatic debit
14.8 Marketable securities
14.9 Inventory: Management; Costs
14.10 Inventory Control Systems: Computerized system; Just in time systems; Outsourcing;
Production scheduling and inventory levels
14.11 Receivables Management: Accumulation of receivables; Monitoring the receivables
position: Days sales outstanding; Aging schedules.
14.12 Credit Policy: Components; Setting the credit period and standards
14.13 Collection Policy
14.14 Cash Discounts

15. FINANCING CURRENT ASSETS
15.1 Alterative Current Assets Policies: Maturity matching or self liquidating approach;
Aggressive approach; Conservative approach
15.2 Evaluation of Short Term Financing: Speed; Flexibility; Cost factor; Risk factor
15.3 Short Term financing-Sources: Accrued liabilities; Accounts payable (trade credit); Bank
loan; Commercial paper
15.4 Accrued Liabilities
15.5 Accounts Receivable: Cost; Effects on financial statements; Components
15.6 Short Term Bank Loans: Maturity; Promissory note; Compensating balances; Informal
line of credit; Revolving credit agreement
15.7 Cost of Bank Loans: Key elements in promissory notes; Regular (simple interest);
Discount interests; Effects of compensating balances; Add on interest
15.8 Choice of a Bank: Willingness to assume risk; Advice and counsel; Loyalty to customers;
Specialization; Maximum loan size; Merchant banking; Other services
15.9 Commercial papers: Meaning; Maturity and cost; Use

ESSENTIAL TEXTS
I.M. PANDEY: Financial Management (Vikas: 12
th
edition)
BRIGHAM & HOUSTAN: Fundamentals of Financial Management (South Western:
Latest edition)

IMPORTANT NOTES
Contents of units 2 and 3 have already been covered in Sem-1 Accounting paper. These
are included here only for revision purposes. The faculty may perhaps likely to hurriedly
skim through them.
There will be some numerical questions from Unit nos. 5,6,7,8,9,10,11 and 12. The
faculty is advised to teach accordingly. In all the students will have to answer at least 2
numericals.
The format of the question paper shall be communicated later, after consulting MGU


HUMAN RESOURCE MANAGEMENT

COURSE DURATION: 20 HRS
COURSE CREDITS: 02

1. INTRODUCTION TO HRM (1 HR)
Meaning and importance: Meaning; Importance; Line and staff aspects of HRM; Line
Managers H.R. duties; HR Managers duties; New approaches to organizing HR; Shift between
line duties and HRM duties
Importance trends in HRM: The new HR managers: focuses on bigger picture, new ways to
provide transaction services, new proficiencies; HRM in India; SHRM; High performance work
systems; Evidence based HRM; Management of ethics
Overall scope of HRM: Recruitment and placement: Job analysis, personnel planning and
recruiting, employee testing and selection, interviewing; Training and development: Basics of
T&D, Performance management and appraisal, coaching, careers, and talent management;
compensation: Establishing strategic pay plans, pay for performance and financial incentives,
benefits and services; Employee relations: Ethics, justice, and fair treatment, labor relations and
collective bargaining, employee safety and health

2. STRATEGIC HUMAN RESOURCE MANAGEMENT (1 HR)
Why plan strategically: Hierarchy of goals at different levels in the organization
Fundamentals of management planning: Planning process; Business plan: Business description,
marketing plan, financial plan, management and/or personnel plan, production/operations
plan;How managers set objectives: Setting SMART goals, setting motivational goals, using
MBO, Using the management objectives grid
Strategic management process: Meaning; steps involved: Define current business, perform
audits, formulate a new direction, translate mission into strategic goals, formulate strategies to
achieve goals, implement strategies, evaluate performance; HRIS: Use of information technology
for HRM; Types of strategies: Corporate strategies, competitive strategies, functional strategies,
strategic fit; Top managers role in strategic planning; Departmental managers role
SHRM: Meaning; HR strategies and policies; SHRM tools: strategy map, HR score card, digital
dashboards; Translating strategy into HR policies and practices
HRD scorecard: Meaning; HRD systems maturity score, HRD competence score, HRD culture,
Business linkage score
High performance work system: Meaning; High performance HR policies and practices; Line
managers role in building a high performance work system.

3. JOB ANALYSIS (1 HR)
Basics: Job analysis/descriptions/specifications; Information collected through Job analysis:
Work activities, human behaviours, machines/tools/equipment/work aids, Performance
standards, Job context, human requirements; uses of job analysis information: Recruitment and
selection, compensation, training, performance appraisal, discovering unassigned duties, legal
compliance; steps in job analysis: 6 step process; Job analysis guidelines: 4 practical guidelines.
Methods for collecting job analysis information: Interview: Meaning, typical questions,
structured interviews, interviewing guidelines; questionnaires; observations; participant
diaries/logs; quantitative job analysis techniques; Internet based job analysis

Writing job descriptions: Job identification; Job summary; Relationships; Responsibilities and
duties; standard of performance and working conditions; Internet applications.
Writing Job specifications: Specification for trained Vs. untrained personnel; specifications
based on judgement; job specifications based on statistical analysis
Job analysis in a worker empowered world: specialized to enriched jobs: Job enlargement, job
rotation, job enrichment; changes at work; competency based job analysis: meaning, types of
competencies, writing job competencies based job descriptions

4. PLANNING AND RECRUTING (1 HR)
Recruitment and selection process
Planning and forecasting: Employment planning; forecasting personnel needs: Trend analysis,
ratio analysis, scatter plot; forecasting the supply of inside candidates: Manual systems and
replacement charts, computerized skill inventories, privacy issue; forecasting supply of outside
candidates:
Need for effective recruiting: why recruiting is important; challenges of effective recruiting;
organizing recruiting; recruiting yield pyramid
Internal sources of candidates: Pros/cons of internal sources; finding internal candidates;
Retiring succession planning; succession planning systems
Outside sources of candidates: Recruiting via internet and other online options, applicant
tracking , improving effectiveness of online recruiting ; Advertising: media, copy of ad,
employment ads and images; Employment agencies; public and non profit agencies, private
agencies; Temporary agencies and alternative staffing: meaning, pros/cons, actual use, legal
guidelines; off-shoring and outsourcing jobs; executive recruiters; on demand recruiting services;
college recruiting: Meaning, goals, on-site visit, internships; Referrals and walkins;
Telecommuters; Exservicemen; Recruiting source use and effectiveness; HRIS in recruiting
Recruiting a more diverse workforce: small towns and rural residents; older workers;
Reservation in jobs; Recruitment of disabled
Developing and using application forms: Purpose; Application guidelines; using application
forms to predict job performance

5. TESTING AND SELECTION (1 HR)
Importance of careful selection: Performance, cost, legal obligations involved
Basic testing concepts: Reliability; validity; test, criterion, and content validity; validating a test
through 5 step process, scoring the test; Test takers individual rights and test security;
Employees usage of test at work; computerized and on-line testing
Types of tests: Tests of cognitive ability: Intelligence tests, specific abilities test; Tests of motor
and physical abilities; measuring personality and interests: Meaning, scope, big 5 personality
dimensions, personality tests and performance predictability, cautions, interest inventories,
Achievement tests.
Work samples and simulations: Work sampling for employee selection: Meaning and purpose,
procedure; Management assessment centres: Meaning, simulated tasks (In basket, games, G.D.,
presentations, tests, interview), effectiveness; Situational testing and video based situational
testing; Miniature job training and evaluation approach; Realistic job previews
Background investigations and other methods: Why: purpose, effectiveness; Legal dangers
involved; Background check: Meaning, improving effectiveness; Using pre-employment

information services: When, use caution; Polygraph and honesty testing: Meaning, tests,
guidelines; Graphology; Physical exams; Substance abuse screening; Use of HRIS

6. INTERVIEWS (1 HR)
Types of interviews: Structured vs. unstructured: Meaning, which one; Interview content:
Situational questions, behavioural questions, other type of questions; Administering the
interview: Panel, phone, video/web based, computerized; Making interview useful: Structure,
assessment of right traits, avoid errors
Errors: first impression (Snap judgment); Nonclarity about job requirement; Candidate order
and pressure to hire; Nonverbal behaviour; Effect of personal characteristics: Attractiveness,
gender, race factors; Interviewer behaviour
Design and conduct of effective interview: Structured situational interview: Steps involved;
Conducting an effective interview: Steps involved; Using a streamlined interview process:
proper approach: Prepare, formulate, conduct, match; Guidelines for interviewees: 7 things to
pass

7. TRAINING AND DEVELOPMEMT (2 HRS)
Orienting training the employees: Purpose; process: Handbook, informal orientation,
orientation technology; Training process: process, alignment between strategy and training; 4
step training process; Training learning and motivation: Making learning meaningful, making
skill transfers easy, reinforcing learning
Training needs analysis and program designing: Task analysis: Meaning, competency
models; Performance analysis: Assessing training needs: Review current performance; find
reasons for low performance; Designing the training program
Implementing training programs: OJT: Meaning, types, process; Apprenticeship training;
Informal training; Job instruction training; Lectures; Programmed learning; AV training;
Vestibule training; Teletraining and videoconferencing; EPSS; computer based training;
Simulated learning; Internet based training; Use of HRIS; Virtual classroom; Using Internet
based learning; Lifelong and literacy based training techniques; Voice and accent training;
Creating own training programs.
Implementing MDPs: Meaning; Managerial QJT: Job rotation, coaching/understudy approach,
action learning; off the job management T&D techniques: Case study method, games, seminars,
university courses, role playing, corporate universities, executive coaches, professional
associations.
Managing organizational change programs: what to change; Lewins change process; Leading
organizational change: Unfreezing, moving, refreezing; using O.D.: Meaning, human process
applications, techno structural interventions, HRM applications, strategic OD applications.
Evaluating the training effort: Designing evaluation; Training effects to measure: Training
outcomes: Reaction, learning, behaviour, results.

8. PERFORMANCE MANAGEMENT AND APPRAISAL (2 HRS)
Basic concepts: Defining employees goals and work standards
Techniques for appraising performance: Why appraise; Supervisors role; Steps involved
Graphical rating scale method: What to measure; Alternative ranking methods; Paired
comparison methods; forced distribution methods; Critical incident method; Narrative forms;

Behaviourally anchored rating scales: Steps involved, research insights, advantages, problems;
MBO; Computerized and web based performance appraisals; Electronic performance monitoring
Dealing with performance appraisal problems: Potential appraisal problems: Unclear
standards, Halo effect, central tendency, leniency/strictness, recency effect, bias, others;
Guidelines for holding effective appraisals: Know the problems, use the right appraisal tool, keep
a diary, get agreement on a plan, be fair; Appraisals and the raw; Who should do the appraising:
Immediate supervisor, peer appraisals, rating committee, self ratings, appraisal by subordinates,
360 degree feedback
Appraisal interview: Types of appraisal interview: Satisfactory-promotable, satisfactory-not
promotable, unsatisfactory-correctable, and unsatisfactory-uncorrectable; how to conduct
appraisal a appraisal interview: Guide lines, handling a defensive subordinate, criticizing a
subordinate, handling a formal written warning; Appraisals in practice
Performance management: Meaning; Appraisal vs. Management; Building blocks; why
manage performance: for total quality, appraisal issues, and strategic planning; using I.T. to
support performance management; Improving productivity through HRIS; Quality improvement
of performance management system

9. COACHING, CAREERS, AND TALENT MANAGEMENT (2 HRS)
Improving coaching skills: Coaching vs. mentoring; Coachings importance; Preparing to
coach; Planning; Active coaching; Follow up
Career management basics: Terminology; Careers today; Employer career efforts today;
Employees role
Career management methods: Employers role: Tools and techniques; Innovative employer
Career initiatives: Lifelong learning budgets, role reversal, organize career success teams,
provide career coaches, offer online programs; Commitment oriented career development efforts:
Career orientated appraisals; Managers role; Building mentoring skills: Mentoring caveats,
effective mentor, porteges responsibilities; HRIS for improving career planning and
development
Employer lifecycle career management: Promotions and transfers; making promotion
decisions: Seniority vs. competence, measurement of competence, formal/informal process,
vertical/horizontal movements; Sources of bias in promotion decisions; Managing
transfers;managing retirements: Methods, preretirement counselling
Talent management: Meaning; Talent management systems
Managing career and finding a job (Appendix to Ch. 10 of Essential text)

10. ESTABLISHING STRATEGIC PAY PLANS (1 HR)
Basic factors determining pay raves: Compensation scenario in India: Companies Act 1956,
ESOS and ESPS, Minimum wages, other legislations, wages laws for informal sector
(Note: Legal considerations in the US can be ignored)
Union influences on compensation decisions: Role; Competitive strategy, corporate policies
and compensation, types of pay policies, pay raises, salary compression, geography; Equity and
its impact on pay rates: Equity theory of motivation, addressing equity issues
Establishing pay rates: Five step process: Step 1: Salary survey: Meaning, benchmark jobs,
commercial/professional, and govt. salary surveys, use of internet; Step 2: Job evaluation:
Compensation factors, preparing for evaluation, job evaluation methods (Ranking, job
classification, point method, factor comparison), computerized evaluation; Step 3: Group similar

jobs into pay grades; Strep 4: Price each pay grade- wage curve; step 5: Fine tune pay rates:
Developing pay ranges, correcting out of line rates; HR in practice: Developing a workable pay
plan: Wage surveys, job evaluation, pay policies
Pricing managerial and professional jobs: Compensating executives and managers; What
determines executive pay; Compensating professional employees
Competency based pay: Meaning; Rationale; Practice; Bottom line
(Special topics in compensation is NOT in course)

11. PAY FOR PERFORMANCE AND FINANCIAL INCENTIVES (1 HR)
Money and motivation: Linking performance and pay; Motivation and incentives: Needs
hierarchy, Herzberg motivators, Edward Deci demotivators, expectancy theory, skinners views;
Incentive pay terminology; Employee incentives and laws.
Individual employee incentive and recognition programs: Piecework plans: Meaning, straight
piecework, standard hour plans; Merit pay or performance increments: Meaning, options;
Incentives for professional employees; Nonfinancial and recognition based awards; Online and
IT supported awards.
Incentives for salespeople: Salary plan; Commission plan; Combination plan; Maximizing sales
force results
Incentives for managers and executives: Short term incentives: Bonus: Eligibility, fund size,
individual performance; Long term incentives: Stock options, problems, other stock plans; Other
executive incentives; strategy and the executives total reward packages.
Team and organizationwide incentive plans: Designing team incentives: Engineered
standards, pros and cons; Profit sharing plans: Current, deferred; Scanlon plans: 5 basics
features; other gainsharing features/plans: Meaning, steps in implementation; At risk plan;
ESOPs; Designing effective programs: Impact of financial and nonfinancial incentives; five
building blocks of effective incentives plans.

12. BENEFITS AND SERVICES (2 HRS)
Benefits picture today: Employee benefits in India
Pay for time not worked: Unemployment insurance; Vacations and holidays; sick leaves;
Parental leaves and the family and medical leave act; Severance pay; Supplementing
unemployment benefits; Insurance benefits: Workers compensation: Determining of benefits,
controlling workers compensation cost; Hospitalization, health and disability Insurance:
Coverage, HMDs, PPOs, Mental health benefits; Legal side of health benefits from India; Trends
in employer health care cost control: Communication and employment, wellness program, health
savings accounts, claims audits, other cost control options; Long term care; Life insurance;
Benefits for part time and contingent workers.
Retirement benefits: Social security; Pension plans: Meaning, defined benefit plan, defined
contribution plans, cash balance pension plan; pension and early retirement personal services and
family friendly benefits: Personal services: Credit unions, employee assistance programs; family
friendly (work-life) benefits; subsidized child care, sick child benefits, elder care, time off,
family friendly benefits; other job related benefits: Educational subsidies; Executive perquisites
Flexible benefits programs: The cafeteria approaches; Benefits and employee leasing; flexible
work schedules: Types, advantages and disadvantages.

ESSENTIAL TEXT

Gary Dessler & Biju Varkkey: Human Resource Management (2011: Pearson)
Sharon Pande & Swapanlekha Basak: Human Resource Management (Pearson: 2012)

IMPORTANT NOTES
The prescribed text cannot be substituted by any other book
All the boxed material, case study, etc. given in the text book have to be read by the
student on self study basis.
The end term examination will contain questions under shall be based on HRM practices
in Indian organizations.
Exercising own discretion, the faculty may like to prescribe certain topics to the students
for self study. However, the coverage of the topics has to be complete.


OPERATIONS & OPTIMIZATION RESEARCH
(QUANTITATIVE TECHNIQUES-2)

COURSE CREDITS: 3

1. DECISION ANALYSIS
1.1 Problem Formulation: Problem statement; Influence diagrams; Decision trees
1.2 Decision Making without Probabilities: Optimistic approach; Conservative approach;
Minimax regret approach
1.3 Decision Making with Probabilities: Expected value approach; Expected value of perfect
information
1.4 Risk Analysis and Sensitivity Analysis: Risk analysis; Sensitivity analysis
1.5 Decision Analysis with Sample Information: Influence diagram; Decision tree; Decision
strategy; Risk profile; Expected value of sample information; Efficiency of sample information.

2. UTILITY AND GAME THEORY
2.1 Meaning of Utility: Monetary value of payoff
2.2 Utility and Decision making: Basic explanation; Expected utility approach; Steps for
determining utility of money
2.3 Other Considerations in Utility: Risk profile; Expected monetary value vs. expected utility
2.4 Game Theory: Zero and positive sum games; Decision making through game theory;
Competing for market share; Identifying a pure strategy
2.5 Mixed strategy Games: Basic working of mixed strategy games; Larger mixed strategy
game; steps for solving games
(This topic is also included in EMDM-II syllabus. The students are required to be prepared for
questions from this unit in that paper as well)

3. LINEAR PROGRAMING: SENSITIVITY ANALYSIS
3.1 Meaning of sensitivity Analysis
3.2 Objective Function Coefficients: Objective function and optimal solution; Simultaneous
changes
3.3 Right Hand Sides: Right hand side of a constraint; Simultaneous changes: Cautionary note
on interpretation of dual prices
(Note: More than two decision variables case and Electronic communication problem are NOT
in the syllabus)

4. INTEGER LINEAR PROGRAMING
4.1 Meaning and Types of Linear Programming Models
4.2 Graphical Solutions for All Integer Linear Programming: Introduction; Graphical
solution; Rounding; Graphical solution of all integer problem; L.P. relaxation and bounds
4.3 Applications Involving 0-1 Variables: Capital budgeting; Fixed costs; Distribution system
design; Bank location; Product design and market share optimization
(Discussion of Modelling flexibility is outside the scope of our studies. Second, the faculty is
required to discuss the cases given at the end of the chapter but ignore the Excel solution)


5. PROJECT SCHEDULING: PERT AND CPM
5.1 Introduction to Project Scheduling
5.2 Project Scheduling with Known Activity Times: Meaning and scope; Concept of a critical
path; Determining the critical path: Contributions of PERT/CPM; Steps involved in PERT/CPM
procedures.
5.3 Project Scheduling with Uncertain Activity Times: Project scheduling with estimated
activity; Uncertain activity times; Critical path; Variability in project completion time
5.4 Time-Cost-Trade offs: Meaning; Crashing activity times; L.P. model for crashing

6. INVENTORY MOELS
6.1 Issues in Inventory Management
6.2 EOQ Model: Costs involved in inventory keeping; How much to order decision; When to
order decision; Sensitivity analysis
6.3 Economic Production Lot Size Model: Costs involved from supply side; Total cost model;
Economic production lot size
6.4 Inventory Model with Planned Shortage: Stock outs
(Note: Inventory models with probabilistic demand are not in course)

7. WAITING LINE MODELS/QUESTIONS THEORY
7.1 Structure of a Waiting Line System: Single channel waiting line; Distribution of arrivals;
Distribution of service times; Queueing discipline; Steady state operation.
7.2 Economic Analysis of Waiting Lines
(Note: Rest of the waiting line models are NOT included in the syllabus)

8. SIMULATION
8.1 Meaning and Scope of Simulation
8.2 Risk Analysis: Situation with Considerable Uncertainly; What if analysis; Simulation
(excluding use of Excel sheets)
8.3 Inventory Simulation: Inventory policy for a product with uncertain demand
8.4 Waiting Line Simulation: Static vs. dynamic simulation models; Simulation of the waiting
line using example of two ATM machines

9. DYNAMIC PROGRAMMING
9.1 Meaning and Scope
9.2 Shortest Route Problem: Principle of optimality
9.3 Dynamic programming Notation: Stage 1-Stage 4 problems
9.4 Knapsack Problem
9.5 Production and Inventory Control Problem

ESSENTIAL TEXTS:
ANDERSON, SWEENEY, AND WILLIAMS: An Introduction to Management
sciences (South-Western: Latest edition)
ANDERSON, SWEENEY, AND WILLIAMS: Quantitative Methods for Business
(South-Western: Latest edition)

IMPORTANT:

The faculty is expected to discuss end of chapter case studies in the class
The students are required to memorize the term given in the Glossary at the end of each
chapter. A questions will be set based on these terms.
The end term question paper will be numericals based.
The format of the question paper shall be communicated later, after consulting MGU.


MANAGEMENT INFORMATION SYSTEM & KM

COURSE DURATION: 30 HRS
COURSE CREDITS: 03

SECTION-A: MANAGEMENT INFORMATION SYSTEM
(WEIGHTAGE: 20 HRS)

1. CONCEPT, ROLE AND COMPONENTS OF MIS
Concept of Information System and Information flow; Role and importance of
information systems in management process; Strategic role of I.T. in M.I.S ; Information
systems for competitive advantage
Components of MIS: Design and maintenance of M.I.S and Decision support systems
;Development and implementation of MIS :Systems analysis and design ;Alternative
application developments, financing issues (basic idea)
BPR: Concept; Role of I.T. for BPR
ERP: Meaning; Importance; Applications; Enterprise management systems (basic idea
Only)

2. INFORMATION SYSTEM: THE HARDWARE & THE SOFTWARE
Computer: Machine, types and components
Hardware Standards: Acquisition of hardware :Selection criteria and other
considerations
Information System - The Software:
- Programming :Meaning, types; Programming languages
- Systems and application soft wares
- Processing of information

3. DBMS
Data Hierarchy: Field, record, file, database; Models and main components of DBMS ;
RDBMS; Processing through DBMS

4. APPLICATIONS OF MIS
Applications in Functional Areas:
- Manufacturing
- Production
- Materials
- Personnel
- Marketing
- Finance
(Note: The faculty must deal with this section specifically; the end term examination will
have minimum 2 applications based questions)

SECTION-B: KNOWLEDGE MANAGEMENT

(WEIGHTAGE: 10 HRS)

5. BASICS OF KNOWLEDGE MANAGEMENT
Concept: Data, information and knowledge; Knowledge types; Knowledge cycle;
Benefits

6. KNOWLEDGE MANAGEMENT: STRATEGIC DIMENSIONS
Knowledge Value Proposition; Capturing knowledge ;Using knowledge ;Leveraging
knowledge ;Capital for competitive advantage
Creation and codification of knowledge; Architecture of knowledge systems

7. KNOWLEDGE MANAGEMENT AND TECHNOLOGY SUPPORT
Role of I T in Knowledge Management
Data Capturing, Mining and Warehousing; Processing and sharing of knowledge
using I T

8. LEARNING ORGANISATIONS
Concept of a Learning Organization and Relevance of KM

(Note: The paper will be taught with the help of Indian case studies using KM successfully, both
from manufacturing and service sector. End term examination paper will have case based
questions.)

ESSENTAL TEXTS
AVADH GHAZIRI: Knowledge Management (Pearson Education)
LAUDON AND LAUDON: Management Information System (Pearson Education)
MARY SUMMER & ROBERT SCHULTHEIS: MIS A Managers View (TMH:
Latest Edition)

IMPORTANT NOTES
The paper will be applications oriented, and not merely conceptual in nature.
The faculty is advised to note the relative weightage of the two parts of the overall
syllabus, while teaching. The end term examination paper will be divided into three
sections, with questions from both the parts in accordance with their relative weightage.
However, the exact format shall be communicated later.
The paper will have numericals and applications based questions.


NATIONAL ECONOMIC PLANNING

COURSE CREDITS: 03

NEP-I: DEVELOPMEMT IN INDIAN ECOOMY

1. LOGIC OF PLANNING IN INDIA
1.1 Evolution of planning: from license raj to LPG to FDI (2012)
1.2 Role of state visualized in 1950s and transitions since then
1.3 Evolution of strategy over the planning period: 1950s till date: Changing perceptions.
1.4 Comparative analysis of planning: India Vs US, UK, Singapore, China, EU, Israel,
Japan, Brazil, S Africa and other nations

2. INDIAN ECONOMY & ALTERNATIVE DEVELOPMENT MODELS
2.1 Economic development and underdevelopment: Basic concepts
2.2 Reforms needed in Social Sectors: Education, Health, Infrastructure
2.3 Paradigm shifts: Housewife GDP, Gross Genuine Index
2.4 Reforms needed in capitalism; state socialism, crony capitalism and other new forms of
economic models; lobbying and its role in a market economy
2.5 Politics vs. social development, dynastic politics, democracy; The 3 pillars of
corruption- politicians, bureaucrats and the crony capitalists
2.6 Comparative evaluation of market vs. planning model of development

3. CONCEPT OF ALTERNATIVE PLANNING AND HAPPY CAPITALISM
3.1 Double digit growth and lifestyle parity
3.2 Theory of production of skills by Means of Skills
3.3 Superiority of Planned Economies
3.4 Happy Capitalism-Theory of survival of Weakest, Trickle up Theory and Law of
increasing Marginal Utility

4. INTERNATIONAL OUTLOOK
4.1 US Economy: From Civil wars to Super power, Nixon Shock, OPEC, Petro-dollars,
economic wars (Vietnam, Iraq, Afghanistan, Libya, Iran), economic sanctions, US-Israel,
Recession, bailout, Dollar/gold/oil
4.2 China Economy I: Growth of China, Taiwan, Communism, SEZs, information
Censorship; Lessons for India
4.3 China Economy II: China town, China sports, diasporas, emerging companies, China-
Africa; Lessons for India
4.4 Russia: Rise and fall of USSR; Emergence of Russia, compared to Cuba; Lessons for
India

5. THE GREAT INDIAN DREAM-THE ROAD AHEAD
5.1 Internal and external problems of country, political deadlock and solutions
5.2 Spirit of entrepreneurship and patriotism
5.3 India after 25 years- a Vision Statement

5.4 Nationalism vs globalisation

ESSENTIAL READING MATERIAL:
ARINDAM CHAUDHURI: Planning India. Complete Book
MK CHAUDHURI & ARINDAM CHAUDHURI: The Great Indian Dream (Vikas)
Complete Book
AMIT BHADURI: Growth with Dignity
TODARO & SIMTH: Economic Development (Pearson: Latest edition) Only relevant
chapters
UMA KAPILA: Indian Economy since Independence (Academic Foundation: Latest
edition) Only relevant chapters
Contemporary material to be gleaned from print media as well as TV and Internet.

IMPORTANT NOTE:
NEP course is now a three credit paper where the examination will comprise written
paper as well as presentation based. The faculty shall follow the same format as was
followed earlier
The written examination will be based on topics listed for NEP-I and the final debate
should be based on NEP II.
Please dedicate the first session for introduction of NEP, orientation, IIPMs philosophy
of national economic planning, debating rules and regulation, NEP promotion, role of
NEP, debate topics and registration.
Please ensure discussion of contemporary topics, international magazines (preferably
Economist) and current political-social movements.
Regular reading of B&E and daily business papers is mandatory for this paper.

NATIONAL ECONIMC PLANNING
(NEP-II: CONTEMPORY ISSUES IN ECONOMICS)

BROAD TOPICS TO BE COVERED UNDER NEP-II
1. India should adopt Presidential form of democracy
2. Bureaucrats must be replaced with Technocrats in India
3. Its time India gets rid of its public companies
4. The world needs no UN
5. Rich should be taxed even more, globally
6. US is still the worlds future

IMPORTANT NOTE
The faculty members are advised to contact Sray Agarwal at Delhi Centre for the latest readings
for the above mentioned NEP-II topics. Please DO NOT contact Charanpal for this purpose.


SALES MANAGEMENT

COURSE CREDITS: 2

1. OVERVIEW OF SELLING AND SALES MANAGEMENT
1.1 Marketing and Sales: Meaning and linkages; Selling, salesmanship, and personal selling;
Comparison and contrasts; Myths about selling
1.2 Selling Theories and Buyer-Seller Dyads
1.3 Sales Career: Characteristics of Sales Career: Job security, advancement opportunities,
immediate feedback, prestige, job variety, independence, compensation; Personal selling jobs:
Sales support, new business, existing business, inside sales, direct to consumer sales,
combination jobs; Qualifications and skills needed: Empathy, ego drive, ego strength,
interpersonal communication skills, enthusiasm.
1.4 Sales Strategy: Account targeting; Relationships; Selling; Sales channel strategy; Industrial
distributors; Independent representatives; Team selling; Tele marketing; Trade shows
1.5 Approaches to Personal Selling: Stimulus response theory; Mental states selling; Need
satisfaction selling; Problem solving selling; Consultative selling
1.6 Process of Personal Selling: Prospecting; Preapproach; Approach; Presentation; Handling
objections/resistance; Close; Post sales follow up

2. PLANNING THE SALES EFFORT: PLANNING AND BUDGETING
2.1 Planning: Need for planning; Sales manager as planner; Sales planning process: Setting
objectives, determining operations to meet objectives, organizing for action, implementing,
measurement of results, evaluating and control; Unsuccessful planning and reasons thereof:
Absence of proper planning, lack of systematic communication, absence of sales force
involvement, others.
2.2 Sales Budget: Purpose, benefits, and principles of setting sales budget; Types of sales
budgets: Sales, expenses, administrative, profit budgets; Methods of budgeting for sales force;
Requirements for successful budgeting; Developing a sales budget from situation analysis till
actual preparation

3. PLANNING THE SALES EFFORT: SALES POTENTIAL AND FORECAST
3.1 Forecasting by sales Managers: Meaning and purpose; Types: Market potential, market
forecast, sales potential, sales forecast; Uses of forecasts.
3.2 Approaches: Top down approach: Company forecasting methods: Moving averages,
exponential smoothing, decomposition methods; Breakdown method: Market factor method,
buying power index; Bottoms up approach: Buyers intention, executive opinion, Delphi
technique, and salesforce composite method.
3.3 Using Different forecasting Approaches and methods: Strengths and Weaknesses of
alternative methods; Selection of best method.

4. PLANNING THE SALES EFFORT: SALES QUOTA
4.1 Sales Quota: Purpose, importance, and characteristics of good sales quota; Types; Methods
for setting; Administering sales quota.
4.2 Marketing Audit: Meaning; Procedures; Components.

5. ORGANISING AND DIRECTING: HIRING AND TRAINING
5.1 Recruitment and selection: Importance; Sales force socialization; Process: Planning,
recruitment, selection
5.2 Training: Role of sales training; Socialization; Training as investment; Training process:
Needs assessment, set objectives, alternatives, design of program, perform training program,
conduct follow up and evaluation

6. ORGANISING AND DIRECTING: STRUCTURE AND TERRITORY
MANAGEMENT
6.1 Organization concepts: Specialization; Centralization; Span of control vs. management
levels; Line vs. staff position; Selling situation contingencies
6.2 Organization structures: Geographic; Product sale; Functional; Major Account basis;
Comparison among alternative bases
6.3 Salesforce Deployment: Allocation of selling effort; Salesforce size; Designing territories

7. ORGANIZING AND DIRECTING: REWARDING AND MOTIVATING
7.1 Motivation and Reward system: Introduction: Significance; Optional system
7.2 Types of salesforce Rewards: Criteria and purpose
7.3 Compensation: Financial: Straight salary, straight commission, performance bonus,
combination plans; Nonfinancial compensation: Opportunity for promotion, sense of
accomplishment, opportunity for personal growth, recognition, job security
7.4 Sales Expenses
7.5 Other Issues: Sales contests; Equal pay; Team compensation; Global considerations;
Changing the reward system
7.6 Guidelines for Rewarding and Motivating: Recruitment and selection; Incorporation of
individual needs; Information and skills; Job design; Building self esteem; Proactive approach

8. PERFORMANCE EVALUATION AND EFFECTIVENESS: ORGANIZATIONAL
8.1 Sales Organization Audit
8.2 Benchmarking and Evaluation: Sales analysis; Cost analysis; Profitability analysis;
Activity based costing; Return on assets managed analysis; Productivity analysis

9. PERFORMANCE EVALUAION AND EFFECTIVENESS: SALESFORCE
9.1 Performance Evaluation: Purpose and approaches
9.2 Key Issues Involved: Criteria; Methods; Biases; Team evaluation; Using performance
information
9.3 Salesperson Job Satisfaction: Measurement; Using information.

ESSENTIAL TEXTS
R. VENUGOPAL: Sales Management (Response: Latest edition)
PANDA AND SACHDEVA: Sales and Distribution Management (OUP: Latest edition)
INGRAM, ET.AL.: Sales Management (South Western: Latest edition)

IMPORTANT NOTES

The faculty should feel free to use and prescribe any text(s) as long as the course is
completely covered. However, the teaching must strictly be in Indian context
The student is required to memorize the key terms given in the respective text books.
The exact format of the question paper shall be communicated later.

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