Topics
Nature and Significance of Management
- Case Study: Tata Group – Excellence in Management
- Concept of Management
- Characteristics of Management
- Objectives of Management
- Importance of Management
- Nature of Management
- Management as an Art
- Management as a Science
- Management as a Profession
- Levels of Management
- Functions of Management
- Coordination as an Essence of Management
- Management in the Twenty-First Century
Principles and Functions of Management
Business Finance and Marketing
Principles of Management
- Case Study: Toyota's Guiding Principles of Management
- Evolution of Management Principles
- Concept of Management Principles
- Nature of Management Principles
- Significance of Management Principles
- Taylor's Scientific Management Theory
- Principles of Scientific Management
- Techniques of Scientific Management> Functional Foremanship
- Techniques of Scientific Management> Standardisation and Simplification of Work
- Techniques of Scientific Management> Differential Piece Wage System
- Fayol’s Principles of Management
- Comparison of Taylor's and Fayol’s Principles.
Business Environment
- Case Study: Dharamveer Kamboj's Entrepreneurial Journey
- Concept of Business Environment
- Importance of Business Environment
- Dimensions of Business Environment
- External Factors> Economic Environment
- External Factors> Social Environment
- External Factors> Technological Environment
- External Factors> Political Environment
- External Factors> Legal Environment
- Economic Environment in India
- The 1991 Economic Crisis and Reforms
- Liberalisation
- Privatisation
- Globalisation
- Demonetisation
Planning
Organising
- Case Study: Wipro's Organisational Restructuring for Growth
- Organising
- Steps in the Process of Organising
- Importance of Organising
- Structure of Organisation
- Types of Organisation Structure > Functional Structure
- Types of Organisation Structure > Divisional Structure
- Comparison Between Functional Structure and Divisional Structure
- Formal Organisation
- Informal Organisation
- Comparison between Formal Organisation and Informal Organisation
- Concept of Delegation of Authority
- Concept of Decentralization
- Comparison Between Delegation and Decentralization
Staffing
- Case Study: Management of Human Resources at Infosys
- Staffing
- Staffing as Part of Human Resource Management
- Evolution of Human Resource Management
- Staffing Process
- Aspects of Staffing > Recruitment
- Sources of Recruitment
- Internal Sources
- External Sources
- Aspects of Staffing > Selection
- Aspects of Staffing > Training and Development
- Methods of Training
Directing
- Case Study: Leadership Development at Ford Motor Company
- Directing
- Principles of Directing
- Elements of Directing
- Supervision
- Motivation
- Motivation> Motivation Process
- Motivation> Importance of Motivation
- Motivation > Maslow’s Need Hierarchy Theory of Motivation
- Motivation> Financial and Non-Financial Incentives
- Leadership
- Communication
- Communication> Formal Communication
- Communication> Informal Communication or Grapevine
- Barriers to Communication
- Improving Communication Effectiveness
Controlling
Financial Management
- Case Study: Tata Steel–Corus Acquisition
- Concept of Business Finance
- Concept of Financial Management
- Financial Decisions> Investment Decision
- Financial Decisions> Financing Decision
- Financial Decisions> Dividend Decision
- Concept of Financial Planning
- Importance of Financial Planning
- Capital Structure
- Factors affecting the Choice of Capital Structure
- Fixed Capital
- Working Capital
Financial Markets
- Concept of Financial Market
- Money Market
- Capital Market
- Primary Market
- Secondary Market/Stock Exchange
- Distinction Between Capital Market and Money Market
- Distinction between Primary and Secondary Market
- Functions of Stock Exchange
- Trading Procedure of Stock Exchange
- Depository Services
- Demat System
- Securities and Exchange Board of India (SEBI)
Marketing Management
- Concept of Marketing
- Concept of Marketing Management
- Marketing vs. Selling
- Marketing Management Philosophies
- Functions of Marketing
- Concept of Marketing Mix
- Marketing Mix> Product
- Classification of Products> Consumer Products
- Classification of Products> Industrial Products
- Branding
- Packaging
- Labelling
- Marketing Mix> Pricing
- Marketing Mix> Physical Distribution
- Marketing Mix> Promotion
- Promotion Mix
- Advertising
- Personal Selling
- Sales Promotion
- Public Relations
- Distinction Between Advertising and Personal Selling
Marketing
- Concept of Financial Market
- Types of Financial Market
- Money Market
- Capital Market
- Primary Market
- Secondary Market/Stock Exchange
- Securities and Exchange Board of India (SEBI)
- Distinction Between Capital Market and Money Market
- National Stock Exchange of India (NSE)
- Overview of Marketing
Consumer Protection
- Case Study: Consumer Protection in Banking Services
- Concept of Consumer Protection
- Importance of Consumer Protection
- Consumer Protection Act, 2019
- Concept of Consumer
- Consumer Rights
- Responsibilities of Consumers
- Ways and Means of Consumer Protection
- Redressal Agencies Under The Consumer Protection Act
- Role of Consumer Organisations and NGO's
- Overview of Consumer Protection
Estimated time: 16 minutes
CBSE: Class 12
Background
- Since independence, India followed a mixed economy approach.
- Excessive government controls and regulations hampered economic growth over time.
- This eventually led to a severe economic crisis by 1991.
CBSE: Class 12
The Crisis of June 1991
- Fiscal deficit: 6.6% of GDP (1990–91)
- Internal debt: ~50% of GDP
- GNP growth: only 1.4%
- Negative growth in agriculture, foodgrains, and industry
- Inflation: 13–14%
- Foreign trade contracted sharply
- Rupee depreciated by 26.7%
- Foreign exchange reserves dropped to less than 2 weeks of imports
- NRIs began withdrawing funds from India
- India's credit rating downgraded from AAA to BB+
- India was close to defaulting on external obligations
CBSE: Class 12
Emergency Measure (Gold Pledge)
- 20 tonnes of gold leased to the State Bank of India (SBI).
- 47 tonnes of gold pledged to the Bank of England.
- Amount raised: approximately $600 million.
CBSE: Class 12
Reform Measures Adopted
- Fiscal correction steps introduced
- New Industrial Policy announced; deregulation initiated
- Most industries delicensed (compulsory licensing abolished)
- MRTP Act amended
- Public sector areas opened to private sector
- Foreign equity limits raised
- Foreign Investment Promotion Board (FIPB) established
- Rupee devalued by ~18% in July 1991
- Loans taken from IMF and World Bank
- India Development Bond and immunity schemes launched to attract foreign funds
- Pledged gold returned after initial crisis was resolved
- Import controls and credit squeeze applied
- Eximscrips introduced
- LERMS (Liberalised Exchange Rate Management System) was implemented
- Import licensing and advance licensing liberalised
CBSE: Class 12
New Industrial Policy — July 1991
Key features:
- Reduction in compulsory licensing.
- Deregulation of public sector industries.
- Disinvestment initiated.
- Liberalisation of foreign capital policies.
- Permission for technology agreements.
- Establishment of FIPB (Foreign Investment Promotion Board).
CBSE: Class 12
The Three Pillars - LPG Reforms
| Pillar | Full Form | Meaning |
|---|---|---|
| L | Liberalisation | Removing licensing shackles on industry |
| P | Privatisation | Reducing the role of the public sector |
| G | Globalisation | Encouraging foreign participation in India's economy |
CBSE: Class 12
Key Points: The 1991 Economic Crisis and Reforms
- Post-independence excessive controls under the mixed economy model led to the 1991 crisis.
- Fiscal deficit hit 6.6% of GDP, inflation 13–14%, and forex reserves fell below 2 weeks of imports.
- Credit rating was downgraded from AAA to BB+, pushing India close to external default.
- India pledged 47 tonnes of gold to the Bank of England, raising ~$600 million as an emergency measure.
- New Industrial Policy (July 1991) delicensed most industries and established FIPB.
- Rupee devalued by ~18%; LERMS introduced for exchange rate management.
- Reforms launched the LPG framework — Liberalisation, Privatisation, and Globalisation.
