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: 15 minutes
CBSE: Class 12
Meaning
- Personal selling means talking directly to one or more customers to convince them to buy a product.
- It is face-to-face, personal communication between salesperson and customer.
- Companies appoint salespersons to meet customers, explain the product and build liking for it so that sales increase.
CBSE: Class 12
Features
- It is a direct, face-to-face meeting between seller and buyer with two-way communication.
- It helps the salesperson build a personal relationship with customers, which supports future sales.
CBSE: Class 12
Merits
- The salesperson can change the sales talk as per the customer’s needs and questions.
- Immediate feedback is received from the customer and the message can be adjusted.
- Effort is not wasted because the firm can choose the right target customers before contacting them.
CBSE: Class 12
Importance to Businessmen
- It is a strong promotional tool that helps increase demand and sales of the product.
- More flexible than advertising and sales promotion and can suit different buying situations.
- Reduces wastage of promotional efforts and brings economy for the business.
- Helps notice loss of customer interest during the interaction and correct it to complete the sale.
- Builds long-term relationships and personal rapport with customers, improving business strength.
- Very useful when introducing a new product and convincing customers about its benefits.
- Salespeople act in persuasive, service and informative roles and connect the firm with its customers.
CBSE: Class 12
Importance to Customers
- Very useful for rural and illiterate customers who do not have other sources of product information.
- Helps customers understand their needs and how available products can satisfy them.
- Provides up-to-date information on prices, availability, shortages and new products, helping better purchase decisions.
- Gives expert advice and guidance in buying different goods and services.
- Encourages customers to try new and better products and improves their standard of living.
CBSE: Class 12
Importance to Society
- Converts potential demand into actual demand and supports more jobs, incomes, goods and services.
- Creates income and employment opportunities, especially for young people.
- Offers an attractive career with growth, job satisfaction, respect and independence.
- Movement of salespeople from place to place supports travel and tourism.
- Promotes product standardisation and similar consumption patterns in a diverse society.
CBSE: Class 12
Key Points: Personal Selling
- Personal selling is a face-to-face method of convincing customers to buy a product.
- Features: Direct communication, two-way interaction, and builds customer relationships.
- Merits: Flexible sales approach, immediate feedback, and targets the right customers.
- Importance to business: Increases sales, builds customer loyalty, and is useful for launching new products.
- Importance to customers: Provides product information, expert advice, and helps make better buying decisions.
- Importance to society: Creates jobs, boosts demand, and supports economic growth.
