Management:
Introduction - Meaning - nature and characteristics ofManagement, Scope and Functional areas of management - Management as ascience, art of profession - Management & Administration - Roles ofManagement, Levels of Management, Development of Management Thoughtearly management approaches – Modern management approaches.
Planning:
Nature, importance and purpose of planning process Objectives -Types of plans (Meaning Only) - Decision making Importance of planning -steps in planning & planning premises - Hierarchy of plans.
Organizing And Staffing:
Nature and purpose of organization Principles oforganization - Types of organization - Departmentation Committees- Centralization Vs Decentralization of authority and responsibility - Span ofcontrol - MBO and MBE (Meaning Only) Nature and importance of staffing--:Process of Selection & Recruitment (in brief).
Directing & Controlling:
Meaning and nature of directing Leadershipstyles, Motivation Theories, Communication - Meaning and importance - coordination, meaning and importance and Techniques of Co Ordination. Meaning and steps in controlling - Essentials of a sound control system - Methods of establishing control (in brief)
Introduction:
Engineering and economics, Problem solving and decision making, Laws of demand and supply, Difference between Microeconomics & Macroeconomics, equilibrium between demand & supply, elasticity of demand, price elasticity, income elasticity. Law of Returns, Interest and interest factors, simple and compound interest, Cash flow diagrams, personal loans and EMI payment calculation with flexible interest rates, Discussion and problems
Present, future and annual worth and rate of returns:
Basic present worth comparisons, Present worth-equivalence, Assets with unequal lives and infinites lives, future worth comparisons, payback comparisons, Equivalent annual worth comparisons, situations for annual worth comparisons. Asset life, Rate of return, minimum acceptable rate of return, IRR anomalies and misconceptions, Cost of capital, comparisons of all present future and annual worth with IRR, product costing, Discussions and problems
Costing and depreciation:
Components of costs, estimation of selling price, marginal cost, first cost, all kinds of overheads, indirect cost estimation with depreciation, mensuration and estimation of material cost, cost estimation of mechanical process, idling time. Product costing (approaches to product costing), causes of depreciation, methods of computing depreciation charges, straight line method, declining balance method, sum of years method, sinking fund method, service output methods, taxation concepts, personal income taxes and corporate taxes, Discussions and problems.
Course outcomes:
On completion of this subject students will be able to
1. Explain the development of management and the role it plays at different levels in an organization.
2. Comprehend the process and role of effective planning, organizing and staffing for the development of an organization.
3. Understand the necessity of good leadership, communication and coordination for establishing effective control in an organization.
4. Understand engineering economics demand supply and its importance in economics decision making and problem solving.
5. Calculate present worth, annual worth and IRR for different alternatives in economic decision making.
6. Understand the procedure involved in estimation of cost for a simple component, product costing and depreciation, its methods.
TEXT BOOKS:
1. Principles of Management by Tripathy and Reddy
2. Mechanical estimation and costing, T.R. Banga& S.C. Sharma, 17th edition 2015
3. Engineering Economy, Riggs J.L. McGraw Hill, 2002
4. Engineering Economy, Thuesen H.G. PHI , 2002
REFERENCE BOOKS
1. Management Fundamentals- Concepts, Application, Skill Development - RobersLusier - Thomson
2. Basics of Engineering Economy, Leland Blank & Anthony Tarquin, McGraw Hill Publication (India) Private Limited
3. Engineering Economics, R.Paneerselvam, PHI publication
4. Fundamentals of Management: Essential Concepts and Applications, Pearson Education, Robbins S.P. and Decenzo David A.
5. Economics: Principles of Economics, N Gregory Mankiw, Cengage Learning
6. Modern Economic Theory, By Dr. K. K. Dewett& M. H. Navalur, S. Chand Publications