Syllabus

GUJARAT TECHNOLOGICAL UNIVERSITY
Bachelor of Engineering
Subject Code:3142007
Semester – IV
Subject Name: Elements of Business Management
Type of course: Humanities
Prerequisite: Zeal to learn the subject
Rationale: This course is helpful to understand the concept of business management in various fields of
applications. Financial component along with production planning on shop floor is added to enhance the
understanding of business management from engineering point of view.
Teaching and Examination Scheme:
Teaching Scheme Credits Examination Marks Total

L T P C Theory Marks Practical Marks Marks
ESE (E) PA (M) ESE (V) PA (I)
3 0 0 3 70 30 - - 100
Content:
Sr. No. Content Total

Hrs
1 Nature of Organization: Aim of organization, Need for corporate objectives,

Management by objectives 2
2 Introduction to Management: Definitions, Management & Administration, skill,

types and roles of managers, Management Principles; Scientific principles,
Administrative principles, Maslow’s theory of Hierarchy of needs; Functions of 5
Management: Planning, Organizing, Staffing, Directing, Controlling, Coordinating
3 Introduction to Marketing management: Marketing Mix, concepts of marketing,

demand forecasting and its qualitative methods, market segmentation 3
4 Financial Management: Need for monetary control, financial accounting- balance

sheet, profit and loss account, ratio analysis; Management accounting: costing,
6
marginal costing, depreciation
5 Operations Management: Organization of manufacturing- Job production, batch

production, flow production, group technology; Production planning & control:
Planning, routing, scheduling, dispatching, expediting, inspection; Plant location 6
and plant layout
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6 Human Resource Management: Recruitment & Selection, Appraisal of
employees; Introduction to Corporate Social Responsibility; Ethics 4
7 Introduction to Economics: Definitions, foundation stones of economics, types of

goods; Difference between Microeconomics & Macroeconomics; Theory of
Demand & Supply: meaning, determinants, law of demand, law of supply,
6
equilibrium between demand & supply; Elasticity: elasticity of demand, price
elasticity, income elasticity, cross elasticity
8 Theory of Production: Meaning, factors of production (meaning & characteristics

of land, labor, capital & entrepreneur); Cost: meaning, short run & long run cost,
fixed cost, variable cost, total cost, average cost, marginal cost, opportunity cost; 5
Break even analysis; meaning, explanation, numerical
9 Markets: Meaning, types of markets & their characteristics (Perfect Competition,

Monopoly, Monopolistic Competition, Oligopoly) 2
Suggested Specification table with Marks (Theory): (For BE only)
Distribution of Theory Marks
R Level U Level A Level N Level E Level C Level

30 25 20 15 10 0
Legends: R: Remembrance; U: Understanding; A: Application, N: Analyze and E: Evaluate C:

Create and above Levels (Revised Bloom’s Taxonomy)
Note: This specification table shall be treated as a general guideline for students and teachers. The actual
distribution of marks in the question paper may vary slightly from above table.
Reference Books:
1. Management in Engineering – Principles and Practice, by Gail Freeman-Bell & James

Balkwill, Prentice Hall India Publication
2. Engineering Management, By A.K.Gupta, S. Chand Publication
3. Fundamentals of Management: Essential Concepts and Applications, Pearson Education,
Robbins S.P. and Decenzo David A.
4. Modern Economic Theory, By Dr. K. K. Dewett & M. H. Navalur, S. Chand Publication
5. Principles of Economics, By N. Gregory Mankiw, Thomson- South Western Publication
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Course Outcomes:
Sr. CO statement Marks %

No. weightage
CO-1 To help the students to understand the fundamental concepts and principles of 20
management; need for setting the objectives, the basic roles, skills, functions
of management.
CO-2 To impart the knowledge about marketing fundamentals and financial 25

management with an insight to managerial and financial accounting reports.
CO-3 To provide necessary understanding regarding operations management 25
containing methods of production, plant location, plant layout and production
planning & control and human resource management along with a brief
introduction of CSR & Ethics
CO-4 To facilitate students in understanding the basic concepts of Economics with 30
major emphasis on demand and supply and to make them aware about the
essential factors of production, various types of costs along with break-even
analysis and market structure.
List of Open Source Software/learning website:
NPTEL
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w.e.f. AY 2018-19

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GUJARAT TECHNOLOGICAL UNIVERSITY

Type of course: Humanities

Prerequisite: Zeal to learn the subject

Teaching and Examination Scheme:

Teaching Scheme Credits Examination Marks Total

Sr. No. Content Total

1 Nature of Organization: Aim of organization, Need for corporate objectives,

2 Introduction to Management: Definitions, Management & Administration, skill,

3 Introduction to Marketing management: Marketing Mix, concepts of marketing,

4 Financial Management: Need for monetary control, financial accounting- balance

5 Operations Management: Organization of manufacturing- Job production, batch

7 Introduction to Economics: Definitions, foundation stones of economics, types of

8 Theory of Production: Meaning, factors of production (meaning & characteristics

9 Markets: Meaning, types of markets & their characteristics (Perfect Competition,

Suggested Specification table with Marks (Theory): (For BE only)

Distribution of Theory Marks

R Level U Level A Level N Level E Level C Level

Legends: R: Remembrance; U: Understanding; A: Application, N: Analyze and E: Evaluate C:

1. Management in Engineering – Principles and Practice, by Gail Freeman-Bell & James

Sr. CO statement Marks %

CO-2 To impart the knowledge about marketing fundamentals and financial 25

List of Open Source Software/learning website:

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