PRINCIPLES OF MANAGEMENT (MGMT 201)

The purpose and types of business organization; Stakeholders in business organizations

1. Describe common features of business ​​​organisations (​​​​​CK1)
2. Explain the purpose and differentiate the types of businesses and how they interact with key stakeholders (CK1)
3. Compare the power and influence of various stakeholder groups and how their needs should be accounted for, such as under the Mendelow framework. (CK1); give students group work (CIP11).

Analyzing business environment (Part 1 and 2)

1. Explain how political and legal, social and demographics, and technologicalfactors affect the organization (CK1)

The macro-economic environment

1. Explain the impact of economic issues on the individual, the household and the business (CK1)

The micro-economic environment

1. Explain the micro environment of the firm (CK1)
2. Calculate and analyze elasticity of demand and the impact of substitute and complementary goods. (CIT1)

Business organization, structure and strategy

1. Direntiate business organisation structure, functions and the role of corporate governance​ (CK2)
2. Explain the informal organization and its relationship with the formal organization     (CK2)
3. Describe Mintzberg’s components of organization and explain the different ways in which formal organizations may be structured (CK2)

Committees in Business Organizations

1. Describe the types of committees used by business organisations
2. Discuss the advantages and disadvantages of committees (CK2)

Corporate governance and social responsibility in business

1. Explain the responsibility of organisations to maintain appropriate standards of corporate governance and corporate social responsibility  (CK2)

Accounting and finance functions within business

1. Analyze the function of accountancy and audit in communicating, reporting and assuring financial information and in effective financial control and compliance (CC1)
2. Explain the contribution of the accounting function to the formulation, implementation, and control of the organisation’s policies, procedures, and performance. (CC1)

Control, security and audit

1. Explain the main functions of the internal auditor and the external auditor and how they differ (CK3)
2. Explain the importance of internal financial controls in an organization (CK3)

Financial systems, procedures and related IT applications

1. Describe features of the types of information technology and information systems used by     the business organization for internal control (CK2)
2. Describe features for protecting the security of IT systems and software within business         (CK3)

1. Describe cloud computing and how it      benefits the organization (CK3)
2. Explain how automation and artificial intelligence (AI) in accounting systems can affect the role and effectiveness of accountants. (CK3)
3. Describe how the application of big data and data analytics can improve the effectiveness of accountancy and audit. (CK3)
4. Explain the key features and applications of Blockchain technology and distributed ledgers in accountancy. (CK3)
5. Explain what is cyber security and identify the key risks to data that cyber-attacks bring. (CK3)
6. Describe the features for protecting the security of IT systems and software within business. (CK3)

Identifying and preventing fraud

1. Identify different types of fraud in the organization. (CC1)
2. Explain the implications of fraud for the organization (CC1)

Leading and managing people

1. Explain the principles of authority and leadership (CK4)
2. Explain the situational, functional and contingency approaches to leadership with reference to the theories of Adair, Fiedler, Bennis, Kotter and Heifetz. (CK4)

Recruitment and selection

1. Explain the importance of effective recruitment and selection to the organization. (CK4)
2. Describe the recruitment the selection process and explain the stages in this process. (CK4)

Diversity and equal opportunities

1. Explain the purposes and benefits of diversity and equal opportunities policies within the human resources plan. (CK4)

Motivating individuals and groups

1. Define motivation and explain its importance to the organization, teams and individuals   (CIP1)
2. Explain content and process theories of motivation: Maslow, Herzberg, McGregor and Vroom (CIP1)
3. Explain and identify types of intrinsic and extrinsic reward (CIP4)
4. Allow students to do group work and discuss motivational theories  (CIP1)

Training and development

1. Explain the importance of learning and development in the workplace (CK4)
2. Describe the learning process: Honey and Mumford, Kolb (CIP4)

Performance appraisal

1. Explain the importance of performance assessment (CK1)
2. Explain how organisations assess the performance of human resources (CIP4)

Communication in Business

1. Evaluate the importance of personal effectiveness as the basis for effective  team and organisational behaviour.       (CIP2)
2. Identify situations where conflict at work can arise. (CIP2)
3. Describe how conflict can affect personal and organizational performance. (CIP2)

Fundamental principles of ethical behavior

1. Recognise that all aspects of business and finance should be conducted in a manner which complies with and is in the spirit of accepted professional ethics and professional values (CIP3)
2. Describe the typical contents of a corporate code of ethics (CIP3)
3. Explain the benefits of a corporate code of ethics to the organization and its employees           (CIP3)