Since the diploma holders in business management have to work in different types of organizations, the study of the subject is very important for the students of this diploma in understanding the various types of business organizations. The course includes nature, scope and forms of business organizations. This will enable the student get familiar with the environment of an organization and working of different forms of organizations.
1. Introduction (14 hrs)
Concept and importance of business, trade, commerce and industry.
2. Sole Proprietorship and Partnership (16 hrs)
Concept, definition, meaning, characteristics, advantages and disadvantages of sole-proprietorship. Partnership – concept, definition, meaning, characteristics, advantage and disadvantage, registration, partnership deed, partner’s rights, duties and liabilities, dissolution of partnership.
3. Joint Stock Companies (18 hrs)
Meaning, characteristics, registration and types, of companies, introduction to promotion and incorporation of company. Theoretical aspect of share capital.
4. Co-operative and State Ownership (16 hrs)
Concept, definition, meaning , characteristics, advantages and disadvantages of co-operative and state ownership
Note: At least two visit to industry/field in a semester
Teacher may give following tutorial assignments:
1. Prepare a partnership deed
2. Explain Business organizations
3. Explain Non profit organizations
4. Concept of Business, Trade, Commerce & Industry
Since it is an important subject, conceptual understanding is a must. Teacher should give examples of various organisations and emphasis of tutorial assignments.