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: 18 minutes
CBSE: Class 12
Maharashtra State Board: Class 11
Tamil Nadu Board of Secondary Education: Class 12
Maharashtra State Board: Class 11
Tamil Nadu Board of Secondary Education: Class 12
Meaning
- Privatisation means reducing the involvement of the state/public sector by bringing in private sector ownership and management.
- It refers to shedding ownership or management of government enterprises - either through withdrawal of ownership or outright sale.
- Disinvestment means selling government equity to the public, improving financial discipline, modernisation, and attracting FDI.
CBSE: Class 12
Maharashtra State Board: Class 11
Tamil Nadu Board of Secondary Education: Class 12
Maharashtra State Board: Class 11
Tamil Nadu Board of Secondary Education: Class 12
Need / Reasons for Privatisation
- To improve efficiency in management.
- To reduce political interference.
- To resolve labour problems.
- To increase accountability.
- To bring capital market discipline.
- To reduce the financial burden on the government.
- Due to losses, mismanagement, and under-utilised capacity in PSUs.
Maharashtra State Board: Class 11
Tamil Nadu Board of Secondary Education: Class 12
Tamil Nadu Board of Secondary Education: Class 12
Measures / Forms of Privatisation
- Reduction of reserved industries - Industries reserved exclusively for the public sector were reduced (from 17 to 8, then to only atomic energy, defence, and railways).
- Disinvestment of shares - Government stake diluted; when diluted beyond 51%, ownership and management transfer to private sector
- Full sale - Outright sale of PSUs to private parties.
- Private management contracts - Management handed to private players without full ownership transfer.
- MoU (Memorandum of Understanding) system - PSUs evaluated on performance targets.
- BIFR (Board for Industrial and Financial Reconstruction) - Sick enterprises referred here for revival or winding up.
- National Renewal Board (NRB) - Provides compensation to workers affected by privatisation.
- Dereservation policy - Reduction in the number of industries reserved for the public sector.
CBSE: Class 12
Disinvestment
- Disinvestment = selling government equity shares to the public.
- When government stake falls below 51%, ownership and management transfer to the private sector.
- Objectives: financial discipline, modernisation, attracting FDI.
CBSE: Class 12
Maharashtra State Board: Class 11
Maharashtra State Board: Class 11
PSU Categories (Autonomy Status)
| Category | Criteria | Examples |
|---|---|---|
| Maharatna | Greater financial and operational autonomy | IOC, SAIL |
| Navratna | Selected PSUs with operational independence | HAL, MTNL, IOC, ONGC, HPCL, BPCL, IPCL, VSNL, BHEL, SAIL, NTPC |
| Miniratna – Category I | Higher autonomy than Category II | BSNL, AAI, IRCTC |
| Miniratna – Category II | Limited autonomy | — |
CBSE: Class 12
Maharashtra State Board: Class 11
Tamil Nadu Board of Secondary Education: Class 12
Maharashtra State Board: Class 11
Tamil Nadu Board of Secondary Education: Class 12
Real-Life Application
| Company | Before Privatisation | After Privatisation |
|---|---|---|
| Air India | Govt-owned airline, losses | Tata Group takeover – service upgrade & cost control |
| Maruti Suzuki | Govt partnership | Now fully private, leading car brand |
| Hindustan Zinc | Govt loss-making unit | Profitable and globally competitive |
CBSE: Class 12
Maharashtra State Board: Class 11
Tamil Nadu Board of Secondary Education: Class 12
Maharashtra State Board: Class 11
Tamil Nadu Board of Secondary Education: Class 12
Key Points: Privatisation
- Privatisation = reducing state ownership/management in favour of private sector.
- Key reasons: inefficiency, losses, political interference, mismanagement in PSUs.
- Main measures: disinvestment, dereservation, full sale, MoU system, BIFR, NRB.
- Disinvestment beyond 51% transfers both ownership and management to private sector.
- PSUs are classified as Maharatna, Navratna, and Miniratna (I & II) based on autonomy levels.
- Real examples include Air India, Maruti, Hindustan Zinc, BALCO, and IPCL.
- Privatisation is one of the three components of the New Economic Policy (along with Liberalisation and Globalisation).
