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: 23 minutes
CBSE: Class 12
Maharashtra State Board: Class 11
CISCE: Class 12
Maharashtra State Board: Class 11
CISCE: Class 12
Meaning
- Globalisation means integrating the domestic economy with the world economy.
- It involves the free flow of goods, services, capital, information, and people across national borders.
- It leads to open competition and global governance.
CBSE: Class 12
Maharashtra State Board: Class 11
Maharashtra State Board: Class 11
Definition: Globalisation
Integration of national economies and societies through cross-country flows of information, ideas, technologies, goods, services, capital, finance, and people.
CBSE: Class 12
Maharashtra State Board: Class 11
CISCE: Class 12
Maharashtra State Board: Class 11
CISCE: Class 12
Nature of Globalisation
- Globalisation is different from internationalisation.
- It goes beyond just trading across borders - it involves deeper economic integration.
CBSE: Class 12
Maharashtra State Board: Class 11
CISCE: Class 12
Maharashtra State Board: Class 11
CISCE: Class 12
Features of Globalisation
- Free flow of trade and investment across countries.
- Open competition between domestic and foreign firms.
- Integration of national economies into a single global economy.
- Encourages foreign collaboration and foreign capital inflows.
CBSE: Class 12
Maharashtra State Board: Class 11
Maharashtra State Board: Class 11
Measures Taken for Globalisation (India)
- Removal of quantitative restrictions on imports and exports.
- Foreign capital allowed into India.
- Convertibility of the rupee introduced.
- Foreign collaboration permitted in various sectors.
- Trade policy reforms undertaken.
- Export encouragement through various schemes.
- Tariff reduction to open markets.
- Repatriation of profits allowed for foreign investors.
- Special Economic Zones (SEZs) established to boost exports.
CBSE: Class 12
Maharashtra State Board: Class 11
Maharashtra State Board: Class 11
Forms of Globalisation
- Foreign trade policy reforms
- Export promotion
- Repatriation of earnings
- Tariff reduction
- Open competition
CBSE: Class 12
Maharashtra State Board: Class 11
Maharashtra State Board: Class 11
Real-Life Application
- Smartphones: Designed in the USA, components sourced from Korea and Japan, assembled in China, sold globally.
- Brands: McDonald’s, Netflix, and Tata Motors operate in multiple countries.
CBSE: Class 12
Outsourcing
- Outsourcing is one of the outcomes of globalisation.
- Indian companies have established global footprints through outsourcing and global operations.
CBSE: Class 12
Indian Companies with Global Footprints
- ONGC Videsh
- Tata Steel (Tata-Corus)
- HCL
- Dr. Reddy's
- Hero-Honda (joint venture example)
- Maruti Suzuki (example of foreign collaboration)
Positive Impacts of Globalisation
- Increased access to foreign markets for Indian goods.
- Inflow of foreign capital and technology.
- Growth of Indian companies internationally.
- More consumer choices due to open competition.
- Development of export-oriented sectors like SEZs.
CBSE: Class 12
Activity: Globalisation – Indian Companies with Global Operations
| Indian Company | Major Products/Services | Countries Where They Operate |
|---|---|---|
| Tata Consultancy Services (TCS) | IT services, software, consulting | USA, UK, Canada, Australia, Japan, Germany, Singapore |
| Infosys | IT services, digital consulting, software solutions | USA, UK, Australia, Canada, Germany, France, Japan |
| Reliance Industries Ltd. | Petroleum products, petrochemicals, telecom (Jio), retail | USA, UAE, UK, Singapore, Netherlands, Saudi Arabia |
| Mahindra & Mahindra | Tractors, SUVs, commercial vehicles, farm equipment | USA, South Africa, Australia, Nepal, Sri Lanka, Brazil |
| Sun Pharmaceutical Industries | Medicines, pharmaceutical products, healthcare | USA, UK, Russia, Australia, South Africa, Canada, Japan |
CBSE: Class 12
Maharashtra State Board: Class 11
CISCE: Class 12
Maharashtra State Board: Class 11
CISCE: Class 12
Key Points: Globalisation
- Globalisation = integration of the domestic economy with the world economy through free flow of goods, services, capital, information, and people.
- It differs from mere internationalisation - it involves deeper economic integration and global governance.
- India's key measures for globalisation include removal of quantitative restrictions, foreign capital inflows, rupee convertibility, trade policy reforms, and SEZs.
- Forms of globalisation include foreign trade reforms, export promotion, tariff reduction, repatriation, and open competition.
- Outsourcing is a key outcome - Indian firms like ONGC Videsh, Tata Steel, HCL, and Dr. Reddy's expanded globally.
- Positive impacts include foreign capital inflow, technology access, export growth, and greater consumer choice.
- Globalisation is closely linked to Liberalisation and Privatisation as part of the New Economic Policy framework.
