Business Environment Module guide Level Zero 2009/ 10

Student Notes

Foundation Business BA Hons Fashion Business Management BA Hons Fashion Retail management Business Environment Module Leader: Preeti D Mehta Module tutors- S.C.Kapoor, Number of Credits: 30 Core module Module Assessment: Written assessment-50%, Presentations-50% Introduction to the module This module will help lay the foundation for a successful manager. It includes the fundamentals of management, the needs and contexts of organizations and the contribution of the main business functions to the organizations objectives. The module aims to acquiring comprehension of business functions such as finance, accounts & economics. The purpose of this module is to begin the development of an integrated understanding of critical perspective of management and organizations and of the functional areas. The marketing component is designed to introduce fundamental principles and concepts of marketing and to enable to add value to an organization by applying marketing principles The Aim This module aims to enable an understanding of a wide range of business functions and contextual domains such as Behavior, finance, legal and marketing. Students study both quantitative aspects of business, such as economics and accounting, and qualitative aspects such as OB, HRM and Industrial Law. The Content This course content assists students in understanding the business environment of organizations where they will work, ways in which organization interacts with its people, e.g. by providing training and development opportunities, appraisal to find out about individual needs, training and development needs analysis, etc.. It will also focus on providing a basic introduction to individuals and group behavior in organizations. The content includes marketing concept in business, fundamental aspects of the law, understanding of economic context in which firms function along with skills in financial accounting particularly as it relates to the conduct of the business activities. Assessments There are two elements of assessment. Assessment Element 1- Written Assessment -50%

Business Environment Module guide Level Zero 2009/ 10

Student Notes

Aim: All written assessments are application-oriented and have both objective and subjective type question papers to test the logical ability of the student. Method: The written assignment is an ongoing process. It has two components. Component 1- Written Exam - 40 marks in Weeks 14-18 Aim: To develop an understanding of important theories and concepts, to internalize knowledge and ideas and make them your own. Method: The Written examination will be a combination of subjective and objective questions and will assess your learning on all topics discussed during the classes of Rahul Jain and S. C. Kapoor during the first semester. The topics are based on Behavioral and Financial Aspect of Business Environment. (Refer Module Specification for content). Component 2 Case Study 60 marks assessed in Week Aim: To stimulate the student's thinking and preparing the student to face similar situations in the corporate world. It encourages students to come up with their own solutions for a problem situation faced by a company. Method: The case study will be based on Behavioral, Marketing, Legal and Financial Aspect of Business Environment impacting the organization. To prepare for solving the case study, you would be given a series of case studies in the classroom that would be formatively assessed. These would be in the form of role plays, quizzes and group discussions during the sessions. Assessment Element 2-Project-50% Aim: To develop an understanding of important theories and concepts, to internalize knowledge and ideas and make them your own. Writing a project report provides an opportunity to think about different viewpoints or perspectives. Method: The class will be divided in groups of not more than five members. Each group will be given one company related to fashion (or lifestyle) or retail industry. The list of companies and their competitors are as follows PROJECT COMPANIES Marketing Manageme nt Promotional strategies followed by them Financial manageme nt Show change in Assets & Liabilities in Last five years and comment Economics HR&OB

Shoppers Stop

Show factors affecting demand through a survey and observation

Reflect the broad HR policies & strategies of the organization. Pick up

Foundation Business

Business Environment Module guide Level Zero 2009/ 10

Student Notes

anyone special HR practices followed by the organization and relate how it helps the firm to attain its goals. Pick up anyone HR function of the organization & discuss in reasonable details its implementat ion and try to relate to your learning for application of concept Westside Trent Ltd Gokaldas Product Mix Strategies at Westside Study of Physical Evidence mix @Gokaldas Pricing strategies followed at Raymonds Buying habits of customers @Pantaloon Consumer Knowledge about brand Nirma Do Do Do Do Do Do

Raymonds

Do

Do

Do

Pantaloon

Do

Do

Do

Nirma

Do

Do

Do

Foundation Business

Business Environment Module guide Level Zero 2009/ 10

Student Notes

Provogue

buying habits of customers at Provogue Study channels of distribution -P&G Customer responses on the pricing strategies followed at Mirza International Place Mix stratgeies followed at Bombay Dyeing product mix startegies Product mix strategies Promotion mix strategies Product mix strategies

Do

Do

DO

P&G India

Do

Do

Do

Mirza International

Do

Do

Do

Bombay Dyeing

Do

Do

Do

Arvind Limited Titan Lmited Zodiac Clothing Co. Ltd Reliance industries

Do Do Do

Do Do Do

Do Do Do

Do

Do

Do

The Project has two componentsComponent 1-Report-40 marks assessed in week 34. By end of 34th week, each group has to submit a report. The report must have information about History, Organization Profile Product profile (Including competitor analysis), Study of economic environment impacting Organization (Demand, Supply) through observation method or survey students will have to assess what are the factors affecting demand of product of assigned company. Organizations Income Statement and Balance Sheet. This is available on the organizations website or in the Annual report of the organization. Get past 5 years detail of assets and liabilities and comment its impact in long run.

Foundation Business

Business Environment Module guide Level Zero 2009/ 10

Student Notes

Set Up of Human Resource Department Factors of HR Process in the organization Methods of assessment of manpower needs in the organization Reasons for preferences Existing Performance appraisal system Does it save any purpose to allow organizational goals? Organizational Behavior pattern of the organization using decision making styles of working in a team. Inter Firm (Competitor) comparison and analysis. Recommendations for improvement in financial performance on the basis of above analysis. Compliance of Labor Laws and problems faced by Industry. Role of union (if any) in the organization (internal /external). Health and safety factors as related under Factories Act Existence of Conflicts & Management styles in the organization with focus on health of Industrial Relations in the organization with reference to grievance management system. Recommendations for maintaining healthy Industrial relations Marketing Mix (company profile, product, price, promotion) Recent Trends in the Industry regarding technology, price, product differentiation etc. Interdependency of selling and marketing in the shop or the product. Conclusion with Opportunities and Threats faced by organization.

To prepare for this report, each student is required to use at least three original research articles (primary references), but can also use textbooks for additional background and supportive material. The information from these articles must be incorporated into the report, and references must be cited during the presentation when they are used. Students are also requested to communicate with other groups about their analysis and findings and try to incorporate productive similar findings in project. Component 2- Viva-60 marks assessed in week 34 During the report submission, each group will have the opportunity to put forward their key learning and contribution to the project in front of the jury members comprising of all the tutors. The team will assess the group on the application of their classroom learning to the project. Essential reading/ viewing Maheshwari & Maheshwari, Accounting for Management, New Delhi, Vikas Publication

Foundation Business

Business Environment Module guide Level Zero 2009/ 10

Student Notes

Robbins,S. P, (1998) The Management of Human resources, Prentice Hall of India Kotler, P. , Jha, M. and Koshy, A. (2007), Marketing Management, 12th Edition New Delhi, Prentice-Hall of India Mallik, P L, (2007) Industrial Law: A Manual of Central Labour and Industrial Laws Incorporating State Amendments with Rules, Regulations, Select Notifications and Case Law (20th Edition) . Lucknow, Eastern Book Company K Aswathappa, Human Resource and Personnel Management (2001) Text and Cases, Tata Mcgraw Hil Publishing Co. Ltd New Delhi Newspapers and Business magazines - The Economics Times, The Business Standard, The Hindu, etc. Magazines: Apparel Online, Business Today, Business World.

Useful reading/ viewing Indicative Reading: Peterson, L & Jain: Managerial Economics, Latest Edition, Prentice Hall, Pearson Education. Srivastav, S C, Industrial relations and Labour Laws , 4th revised edition , Vikas publication. Tulsian, P.C. (2006) Financial Accounting. Pearson Education, 2006 Edition. Websites: http://learningaccounting.pbworks.com. Submission weeks Written Assignment Component Written Assignment Component Project: Draft Submission Final Submission 1: 2: Week Week Week Week 30 March 2012 34 April 2012

How the work will be assessed The module assessment is based on how well you have improved to meet the module specific learning outcomes; these are statements that describe what knowledge, understanding, skills, qualities and attributes you should achieve by the end of the module. Throughout the module you will have many opportunities to evaluate your progress against the learning outcomes at interim evaluation points. Written Assessment-50% It is important for you to read articles, journals and books suggested which would help you broaden your knowledge base. The exam and the case study will be assessed on the criteria mentioned below. Criteria for the assessment tasks

Foundation Business

Business Environment Module guide Level Zero 2009/ 10

Student Notes

Ability to relate classroom learning to questions. Ability to clearly answer and give your point of view Intended Learning Outcomes Knowledge and understanding Understand the importance and basis for maintenance of business accounts. Examine concepts and analysis of basic business economics. Comprehend organizational change and development & understand the importance and functions of HRM. Demonstrate comprehension of essential facts, concepts, theories and principles of fashion business environment. Project-50% Please note that in terms of the carrying out the project and presenting them students will be assessed for their ability to understand the problem and concept and approaches taken to find details and exploring for the solution. Criteria for the assessment tasks Clarity in understanding of marketing mix and consumer decision making in the organization under study, presentation of facts, quality of inferences drawn. concepts of industry in relation to stakeholder, industrial relations and its connectivity with labor law along with Behavioral Aspect of Business Environment Financial and economic concepts, principles and its interpretation thereon for the organization Intended Learning Outcomes Knowledge and understanding Understand the importance of Industrial relations and its relation to labor law in context of industry. Skills, qualities and attributes Understand marketing mix, product positioning & consumer decision making process. Demonstrate the ability to learn and apply basic economics in the organization for decision making. Be able to differentiate between macro and micro marketing environment. Prepare and make basic analysis of financial statements. Experience self and consciously apply some of the concepts in practical situation to manage with people and performance. Accept responsibility for quantity and quality of output while working in a team. Grading Criteria

Foundation Business

Business Environment Module guide Level Zero 2009/ 10

Student Notes

Element 1-Wriiten assignment First Class (70% and above) The student answers reflect excellent knowledge of marketing mix, OB & HRM, accounting and economic concepts, and Industry laws and its interpretation thereon for the organization.

Element 2- Project First Class (70% and above) The work shows evidence of Excellent, accurate and broad understanding of the marketing scenario. The student demonstrates the understanding of marketing mix, consumer decision making process, selling and marketing interdependency in the chosen organization excellently. The student also shows excellent understanding of OB, HRM, accounting and economic concepts, Industry laws and its interpretation thereon for the organization. Higher Second Class (60-69%) The work shows evidence of Good understanding of the chosen organization, marketing and selling and their interdependency, marketing mix, consumer decision making process. The student also shows good understanding of OB, HRM, accounting and economic concepts, Industry laws and its interpretation thereon for the organization. Lower Second Class (50-59%) - The work shows evidence of An average understanding of the chosen organization, marketing and selling and their interdependency, marketing mix, consumer decision making process. The student also shows an average understanding of OB, HRM, accounting and economic concepts, Industry laws and its interpretation thereon for the organization.

Higher Second Class (60-69%) - The student answer reflect good knowledge of marketing mix, OB & HRM, accounting and economic concepts, and Industry laws and its interpretation thereon for the organization.

Lower Second Class (50-59%) - The student answer reflect an average knowledge of marketing mix, OB & HRM, accounting and economic concepts, and Industry laws and its interpretation thereon for the organization.

Foundation Business

Business Environment Module guide Level Zero 2009/ 10

Student Notes

Third Class (40-49%) - The student answer reflect a below average knowledge of marketing mix, OB & HRM, accounting and economic concepts, and Industry laws and its interpretation thereon for the organization.

Third Class (40-49%) - The work shows evidence of A below average understanding of the chosen organization, marketing and selling and their interdependency, marketing mix, consumer decision making process. Understanding of OB, HRM, accounting and economic concepts, Industry laws and its interpretation thereon for the organization. is also below average Fail (39% and below) - The work shows evidence of Inadequate understanding of marketing mix, consumer decision making process, selling and marketing inter-dependency, OB, HRM, accounting and economic concepts, Industry laws and its interpretation thereon for the organization.

Fail (39% and below) - The student answer does not reflect any knowledge of marketing mix, OB & HRM, accounting and economic concepts, and Industry laws and its interpretation thereon for the organization

Please note that the student will be assessed more in terms of his/ her development/ improvement rather than in terms of mere completion of the given assignments and project(s). Marks/ grades for the assignments/ presentations will be given on the students overall performance between Weeks 01 to 35 and not for performance in each session. No special concession will be given if the student is absent from class, fails to complete the entire series of classroom exercises, and consequently fails to get a passing grade. Note: Late submission, absenteeism and plagiarism will be treated according to the norms laid down in the students handbook. Feedback to you Classroom activities and assignments provide you with the opportunity to give and receive informal critical feedback from both your tutors and fellow students (peers). Periodic, short conferences over the course of the semester with the tutor will provide a forum for feedback on the portfolio. As part of the interim evaluation/ presentations at the end of each stage of the assignment/presentation, you will develop an understanding of how you are progressing through peer evaluation and tutor feedback. Following the final assessment, you will receive a copy of your feedback. This will contain a conclusive series of comments and a provisional module mark. This is an

Foundation Business

Business Environment Module guide Level Zero 2009/ 10

Student Notes

indication only of the band (first, HSC, LSC, Third/ Fail) of your final grade for the module. The grade for the module is subject to the approval of the exam board which will be held at the end of the academic session. If you have a problem special situation If you have any problems with the module or the work, see your module tutor as soon as possible. They may be able to help, and sooner a problem is identified, the easier it will be to sort out. If you are ill or have other special situations which might affect your ability to meet deadline, you may be entitled to an extension. See also the students handbook for further information and help.

Preeti D Mehta (Module Leader) S.C.Kapoor, Shweta Verma, Priyanka Aggarwal, Maria Usmani (Module tutors)

Foundation Business

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