Human Resource Management

25 March 2025 19:18

Unit 1: Introduction to Human Resource Management

(HRM - CHO: Concept, Humanity, Objectives)
1. Concept of Human & Humanity (H2C: Human, Humanity, Compassion)
○ Humans are social beings with emotions, intelligence, and capabilities.
○ Humanity emphasizes compassion, ethics, and dignity in work and life.
2. Concept & Dimensions of Human Resource Management (HRD: Human Resource
Dimensions)
○ HRM deals with recruiting, training, and managing employees.
○ Dimensions include workforce planning, performance evaluation, compensation, and
industrial relations.
3. Objectives of HRM (PIDE: Productivity, Improvement, Development, Engagement)
○ Enhance productivity and employee satisfaction.
○ Ensure career development and workforce engagement.
4. Significance of HRM (MEC: Motivation, Efficiency, Culture)
○ Motivates employees to work effectively.
○ Improves workplace efficiency and fosters organizational culture.

Unit 2: Selection, Training & Development (STD - MSTD:

Manpower, Sources, Training, Development)
1. Manpower Planning (WAF: Workforce, Allocation, Forecasting)
○ Ensuring the right number of employees at the right time.
○ Analyzing future workforce requirements.
2. Sources of Recruitment (IEX: Internal, External, Exchange)
○ Internal: Promotions, transfers within the company.
○ External: Campus hiring, job portals, consultants.
○ Employment exchanges and referrals.
3. Selection Procedure (AISI: Application, Interview, Screening, Induction)
○ Steps include application, written tests, group discussions, and interviews.
○ Final selection and induction into the organization.
4. Training Methods (OJT-OFF: On-the-Job & Off-the-Job Training)
○ On-the-Job (OJT): Practical experience, mentoring.
○ Off-the-Job: Classroom training, simulations, online courses.
5. Development of HR (SGL: Skills, Growth, Leadership)
○ Enhancing employee skills for future roles.
○ Focus on leadership, communication, and decision-making abilities.

Unit 3: Employee Relations (ERT)

ERT – Employee Relations & Trade Unions

Definition: Good departmental relationships improve communication and efficiency between

different teams.
• Decision-making support → Coordination between departments helps in making better
decisions.
○ Example: The marketing team consults the finance team before launching a discount
campaign to ensure profitability.

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 campaign to ensure profitability.
• Reduce conflicts → Clear roles and responsibilities avoid misunderstandings.
○ Example: HR sets guidelines for interdepartmental meetings, preventing
miscommunication.
• Improve coordination → Smooth workflow and reduced duplication of work.
○ Example: The IT team works with HR to automate the payroll system, reducing errors.
• Foster teamwork → Employees collaborate effectively, increasing productivity.
○ Example: The production and sales teams collaborate to meet customer demand.
• Transparency → Open communication prevents misinformation and misunderstandings.
○ Example: A company’s leadership team shares quarterly reports with all departments to
maintain transparency.

Definition: Trade unions advocate for workers’ rights, and collective bargaining is the process of
negotiation between employees and employers.
• Trade union → Acts as a bridge between employees and management.
○ Example: The All India Trade Union Congress represents factory workers for better
wages.
• Unity for rights → Strength in numbers helps employees voice concerns.
○ Example: Factory workers protesting for better safety measures together instead of
individually.
• Bargaining power → Negotiations lead to fair pay and better working conditions.
○ Example: Airline pilots negotiating for higher wages through their union.
• Employee protection → Ensures job security and fair treatment.
○ Example: A trade union preventing unfair layoffs by negotiating alternative solutions
with management.

Definition: Trade unions contribute to society beyond workplace rights.

• Skills development → Organizing training programs to upskill workers.
○ Example: A union offering computer literacy courses to factory workers.
• Upliftment of workers → Supporting members with financial aid, insurance, etc.
○ Example: A trade union providing scholarships for employees' children.
• Resolving disputes → Acts as a mediator between employees and employers.
○ Example: A trade union preventing a workers’ strike by negotiating better conditions.
• Ethical labor practices → Ensures fair wages and prevents exploitation.
○ Example: A trade union ensuring that all employees receive at least the minimum wage.

Unit 4: Human Resource Appraisal (HRA)

HRA – Human Resource Appraisal

Definition: A systematic evaluation of employee performance for development and reward

decisions.
• Career growth → Helps employees improve and get promotions.
○ Example: An employee who consistently exceeds targets is promoted to a managerial
position.
• Aligning individual & organizational goals → Ensures employees’ work supports company
objectives.
○ Example: A company sets a goal for employees to improve customer satisfaction,
aligning with its brand strategy.
• Productivity improvement → Identifies strengths and weaknesses to enhance performance.
○ Example: A retail store evaluates cashier efficiency and provides speed training.
• Salary & promotion decisions → Fair assessment of who deserves pay raises and promotions.
○ Example: An IT firm increases an employee’s salary based on annual performance
ratings.

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 ratings.

Definition: An effective appraisal system should follow the SMART model.

• Specific goals → Clearly defined objectives.
○ Example: A sales executive must sell 50 products per month rather than just "increase
sales."
• Measurable results → Must have quantifiable benchmarks.
○ Example: Customer service representatives are evaluated based on the number of
resolved complaints.
• Achievable targets → Goals should be realistic and attainable.
○ Example: Expecting a 10% increase in sales instead of an unrealistic 100%.
• Relevant KPIs → Must align with the employee’s job role.
○ Example: A graphic designer is assessed based on creativity, not sales numbers.
• Time-bound assessment → Performance should be evaluated within a set timeframe.
○ Example: An intern’s performance is reviewed every three months.

Unit 5: Human Resource Accounting & Auditing (HRAA)

HRAA – Human Resource Accounting & Auditing

Definition: HR accounting measures the cost and value of employees in financial terms.
• Cost-benefit analysis → Evaluates HR investments vs. benefits.
○ Example: Comparing the cost of hiring a new employee to their expected revenue
generation.
• Assessing human capital → Employees are seen as valuable business assets.
○ Example: A tech firm calculates the value of its software engineers based on their
contributions.
• Strategic workforce valuation → Determines the financial impact of HR decisions.
○ Example: A company estimates how much a skilled employee contributes to overall
revenue.
• HR investment tracking → Records costs of hiring, training, and retention.
○ Example: Tracking training expenses per employee to justify future investments.
Methods (FIRM):
• Fluctuation Cost Method → Measures employee turnover costs.
○ Example: A retail store calculates the cost of replacing workers who leave.
• Investment in HR Model → Considers HR as a long-term investment.
○ Example: Investing in leadership training programs for future managers.
• Replacement Cost Approach → Determines cost of hiring replacements.
○ Example: Estimating expenses of hiring and training a new software engineer.
• Monetary & Non-Monetary Valuation → Measures direct and indirect benefits.
○ Example: Considering employee satisfaction and productivity in addition to salary.

Definition: HR auditing assesses compliance, effectiveness, and efficiency of HR policies.

• Compliance with policies → Ensures adherence to labor laws.
○ Example: Checking if employee wages meet the legal minimum wage.
• Analyzing HR effectiveness → Evaluates HR’s role in company success.
○ Example: Auditing whether training programs have improved employee productivity.
• Risk management → Identifies HR-related risks and issues.
○ Example: Auditing workplace safety measures to prevent legal issues.
• Ethical labor evaluation → Ensures fair and ethical treatment of employees.
○ Example: An audit ensuring that all employees receive equal promotion opportunities.

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Marketing Management
25 March 2025 19:19

Unit 1: The Fundamentals of Marketing (FNSM -

Fundamentals, Nature, Scope, Market)
1. Concept of Marketing (VM - Value & Market Exchange)
○ Marketing is the process of creating value and satisfying customer needs through
exchanges.
2. Nature of Marketing (PICS - Process, Interaction, Consumer, Satisfaction)
○ Marketing is an ongoing process of interaction between businesses and consumers to
fulfill needs.
3. Scope of Marketing (PDP - Products, Distribution, Promotion)
○ Includes product planning, distribution channels, and promotional strategies.
4. Buyers' & Sellers' Market (BSD - ’ .
○ Buyer's Market: Supply exceeds demand, giving consumers more choices.
○ Seller's Market: Demand exceeds supply, allowing sellers to set higher prices.
5. Consumer & Industrial Markets (CID - Consumer, Industrial, Differences)
○ Consumer Market: Products are sold for personal use (e.g., groceries, clothing).
○ Industrial Market: Goods used in production (e.g., machinery, raw materials).
6. Market Segmentation (DGAB - Demographic, Geographic, Attitudinal, Behavioral)
○ Dividing markets based on demographics (age, gender), geography, attitudes, and
behavior.

Unit 2: Marketing Environment (ME)

ME – Micro & Macro Environment

Definition: The internal and immediate external factors that directly impact marketing decisions.
• Customers → Their needs and preferences drive product demand.
○ Example: A company modifies flavors based on local tastes.
• Competitors → Influence pricing, branding, and market positioning.
○ Example: Pepsi adjusts its campaigns based on Coca-Cola’s strategies.
• Channels (Suppliers & Distributors) → Affect product availability and cost.
○ Example: A supplier delay can lead to stock shortages.
• Stakeholders → Investors and business partners influence strategies.
○ Example: Shareholders may push for cost-cutting measures.
• Society (Public & Media) → Consumer perception impacts brand value.
○ Example: Negative media coverage can harm sales.

Definition: The larger external forces that indirectly impact marketing strategies.
• Political → Government policies, taxation, trade laws.
○ Example: New import duties affect pricing strategies.
• Economic → Inflation, GDP, unemployment affecting demand.
○ Example: Economic downturns reduce luxury goods sales.
• Social → Cultural trends, demographics, lifestyle shifts.
○ Example: Rising health awareness boosts organic food sales.
• Technological → Innovation, automation, online marketing trends.
○ Example: AI-based customer service improves engagement.
• Environmental → Sustainability, pollution control, climate change.
Example: Companies adopt eco-friendly packaging.

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 ○ Example: Companies adopt eco-friendly packaging.
• Legal → Consumer protection laws, labor laws.
○ Example: Stricter advertising regulations limit false claims.
Role in Decision-Making:
✅ Micro → Immediate, short-term decisions (e.g., pricing adjustments, promotions).
✅ Macro → Long-term strategy planning (e.g., adopting sustainable practices).

Unit 3: Marketing Information System (MIS - MIMI:

Management, Input, Monitoring, Importance)
1. Concept of MIS (DSS - Data, Support, Strategy)
○ A system that collects, analyzes, and presents data for decision-making in marketing.
2. Sub-systems of MIS (MIC - Marketing Research, Internal Data, Competitive Intelligence)
○ Marketing Research: Collects external market data.
○ Internal Data: Sales records, financial data.
○ : z ’ .
3. Management of Input (GEO - Gathering, Evaluating, Organizing)
○ Input sources include customer feedback, competitor analysis, and sales data.
4. Importance of MIS (FRED - Forecasting, Response, Efficiency, Decision-making)
○ Helps in forecasting trends, responding to market changes, and improving efficiency.
○ Aids in strategic decision-making.

Unit 4: Consumer Behaviour (CB)

CB – Understanding Consumer Behavior

Definition: The study of how consumers make buying decisions.

• Behavioral patterns → Understanding purchase trends.
○ Example: More people shop online post-pandemic.
• Understanding needs → Helps target the right audience.
○ Example: Luxury brands focus on high-income groups.
• Yielding customer loyalty → Retention through satisfaction.
○ Example: Reward programs like Amazon Prime increase loyalty.
• Emotion-driven choices → Psychology influences decisions.
○ Example: People buy premium chocolates for emotional value.
• Responsive marketing → Adjusting strategies based on behavior.
○ Example: Brands launch winter skincare in colder seasons.

Definition: Factors shaping buying decisions.

• Cultural → Social norms, traditions, beliefs.
○ Example: Vegetarian food is more popular in India due to cultural values.
• Climate → Weather affecting buying patterns.
○ Example: Woolen garments sell more in winter.
• Class → Socioeconomic status influencing product preference.
○ Example: Middle-class families prefer budget smartphones.
• Community → Peer influence on purchase decisions.
○ Example: People buy trendy clothes to fit into a social group.
• Personal → Age, gender, occupation.
○ Example: Teens prefer fashion-forward brands, while seniors value comfort.
• Psychological → Motivation, perception, beliefs.
○ Example: Fear-based marketing increases insurance sales.
• Purchasing Power → Affordability and disposable income.

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 • Purchasing Power → Affordability and disposable income.
○ Example: People switch to cheaper brands during inflation.
• Social → Family, friends, reference groups.
○ Example: Kids influence parents’ car-buying decisions.
• Situational → Occasion, urgency, availability.
○ Example: People buy chocolates on Valentine’s Day.

Unit 5: Marketing Mix (MMIX)

MMIX – The Four P’s of Marketing

Definition: Decisions related to product variety, features, and branding.

• Product Concept → Focusing on quality, usability, and need satisfaction.
○ Example: Apple focuses on premium design and innovation.
• Life Cycle (PLC) → Introduction, Growth, Maturity, Decline.
○ Example: DVD players are in the decline stage due to streaming services.
• Innovation & Development → Creating new products or features.
○ Example: Tesla’s electric cars revolutionized the auto industry.
• Packaging & Branding → Differentiation, convenience, and protection.
○ Example: Coca-Cola’s red branding enhances recall.

Definition: Strategies to inform and persuade customers.

• Publicity → Free media coverage and public relations.
○ Example: A celebrity tweeting about a brand.
• Advertising → Paid communication via TV, print, digital.
○ Example: Google Ads promoting a new smartphone.
• Cause-Related Marketing → Linking products with social causes.
○ Example: TOMS donating a pair of shoes for each purchase.
• Sales Promotion → Discounts, coupons, contests.
○ Example: Buy one, get one free offers.
• Word of Mouth → Customer recommendations.
○ Example: A friend recommending a restaurant.

Definition: Strategies for setting product prices.

• Pricing Policies → Cost-based, value-based, competition-based pricing.
○ Example: A luxury brand uses premium pricing.
• Objectives → Profit maximization, market penetration, competitive pricing.
○ Example: A startup uses penetration pricing to gain market share.
• Strategies → Skimming, penetration, psychological pricing.
○ Example: Apple uses price skimming by launching products at a high price.

Definition: Distribution decisions for product accessibility.

• Levels of Distribution → Direct, indirect, multi-channel.
○ Example: Amazon sells directly online, while Coca-Cola uses retailers.
• Physical Distribution → Inventory, warehousing, logistics.
○ Example: Flipkart uses warehouses across cities for faster delivery.
• Delivery Channels → Retail, e-commerce, wholesale.
○ Example: Nike sells through its website and stores.

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Financial Management
25 March 2025 19:19

Unit 1: Financial Management (FOS – Finance, Objectives,

Significance)
1. Concept of Financial Management (RIF - Raising, Investing, Financing)
○ Financial Management involves raising, investing, and managing funds to maximize
profits.
2. Objectives of Financial Management (PMW - Profit, Market Value, Wealth Maximization)
○ Ensuring profitability, increasing market value, and maximizing shareholder wealth.
3. Significance of Financial Management (GOP - Growth, Optimization, Performance)
○ Essential for business growth, optimal fund utilization, and performance
improvement.

Unit 2: Cost of Capital and Capital Budgeting (CCC – Cost,

Capital, Computation)
Cost of Capital (DSPER – Debt, Preference, Equity, Retained
Earnings)
1. Meaning & Significance of Cost of Capital (MFR - Minimum Return, Funding, Risk
Assessment)
○ The cost incurred by a company to finance operations, helping assess risk and return.
2. Computation of Cost of Capital:
○ Cost of Debt (KD) – Interest paid on borrowed funds.
○ Cost of Preference Capital (KP) – Fixed dividends paid to preference shareholders.
○ Cost of Equity (KE) – Expected return required by equity investors.
○ Cost of Retained Earnings (KR) – Opportunity cost of reinvested profits.
○ Weighted Average Cost of Capital (WACC) – Combined cost of all sources of finance.

Capital Budgeting (MSME - Methods, Significance, Measures,

Evaluation)
1. Meaning & Significance of Capital Budgeting (LI – Long-term, Investment Decisions)
○ Process of evaluating long-term investments for maximizing returns.
2. Methods of Evaluating Investment Opportunities (PNI - Payback, NPV, IRR)
○ Payback Period (PP) – Time required to recover initial investment.
○ Net Present Value (NPV) – Present value of cash inflows minus investment cost.
○ Internal Rate of Return (IRR) – Discount rate where NPV = 0.

Capital Structure (Unit 3)

1. Traditional Approach (TA) – Balances debt and equity to maximize firm value.
2. Modigliani & Miller Hypothesis (MMH) – Capital structure is irrelevant in a perfect market.
3. Factors Affecting Capital Structure (PGBR: Profitability, Growth, Business Risk, Regulations) –
Key determinants include profit potential, risk level, and government policies.
4. Leverage (OFC: Operating, Financial, Combined)
○ Operating Leverage (OL) – The impact of fixed costs on profits.
○ Financial Leverage (FL) – The effect of debt financing on earnings.
○ Combined Leverage (CL) – The total risk from both operating and financial leverage.

Management of Income (Unit 4)

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Management of Income (Unit 4)
1. Retained Earnings (RE) – Internal financing from undistributed profits.
2. Types of Dividend (CDS: Cash, Stock, Special) – Cash dividend (paid in cash), stock dividend
(additional shares), and special dividend (one-time payout).
3. Determinants of Dividend Policy (PLE: Profitability, Liquidity, Expectations) – Company
earnings, cash flow, and shareholder expectations influence payout decisions.
4. : ’ – Walter’s Model suggests
retained earnings should be reinvested if returns exceed the cost of capital, while MM
Hypothesis states dividends are irrelevant to firm value.

Management of Working Capital (Unit 5)

1. Working Capital (WC) – The short-term assets and liabilities needed for daily operations.
2. Significance of WC (LMO: Liquidity, Management, Operations) – Essential for maintaining
solvency, ensuring smooth operations, and managing short-term liabilities.
3. Types of WC (PGP: Permanent, Gross, Positive) – Permanent (constant level), Gross (total
investment in current assets), and Positive (excess current assets over liabilities).
4. Sources of WC (SL: Short-term & Long-term) – Includes trade credit, bank loans, and retained
earnings.
5. Determinants of WC (SCNOP: Sales, Credit Policy, Nature of Business, Operating Cycle,
Profitability) – Sales volume, credit terms, industry type, working cycle, and profits impact WC
needs.

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Corporate Legal Framework
25 March 2025 19:19

Unit 1: Indian Companies Act 2013 (NTMAP – Nature, Types, MOA,

AOA, Prospectus)
1. Nature & Types (PPPG - Private, Public, Producer, Govt.)
○ A company is a legal entity formed under the Companies Act.
○ Types: Private (restricted shares), Public (public trading), Producer (owned by
producers), Government (state-owned).
2. Memorandum of Association (MOA – OASRCL - Objectives, Scope, Registered Office, Capital,
Liability)
○ Defines a company’s purpose and operational framework.
○ Includes clauses for objectives, liability, capital, and registered office details.
3. Articles of Association (AOA – IRR - Internal Rules & Regulations)
○ Sets rules for internal management and operations.
○ Covers voting rights, director powers, and meeting procedures.
4. Prospectus (PII - Public Issue, Investor Info)
○ A document issued to invite public investment in shares/debentures.
○ Contains details about financial status, risks, and business plans.

Unit 2: Share Capital (SSTM – Shares, Share Capital, Transfer,

Membership)
1. Shares & Capital (EEP - Equity, Preference, Paid-up)
○ Shares represent ownership; capital is the total value of shares issued.
○ Equity shares offer voting rights; Preference shares provide fixed dividends.
2. Membership & Transfer (RPT - Rights, Process, Transferability)
○ Shareholders get rights like voting and dividends.
○ Shares can be transferred as per company laws, with restrictions in private companies.

Meetings and Management (Unit 3)

1. Kinds of Meetings (SGE: Shareholders, General, Executive)
○ Shareholders' Meetings (SM) – Meetings held for company owners to discuss financial
and operational matters.
○ General Meetings (GM) – Includes Annual General Meeting (AGM) and Extraordinary
General Meeting (EGM) to address major decisions.
○ Executive/Board Meetings (BM) – Held for internal management discussions among
directors.
2. Annual General Meeting (AGM) – A compulsory yearly meeting where financial statements,
dividends, and board elections are discussed.
3. Board Meetings (BM) – Regular meetings of directors to make strategic decisions and review
company performance.
4. Role and Responsibilities of Directors (GSL: Governance, Strategy, Legal)
○ Governance (G) – Ensuring the company operates within legal and ethical boundaries.
○ Strategy (S) – Setting business goals and making investment decisions.
○ Legal Compliance (L) – Adhering to corporate laws and protecting shareholders'
interests.
5. Managing Director (MD) Responsibilities (PEM: Planning, Execution, Monitoring)
○ Planning (P) – Developing company vision and goals.
○ Execution (E) – Implementing policies and business strategies.
Monitoring (M) – Ensuring smooth business operations and regulatory compliance.

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 ○ Monitoring (M) – Ensuring smooth business operations and regulatory compliance.

Accounts and Audit (Unit 4)

1. Annual Accounts (BSI: Balance Sheet, Statement, Income) –
○ Balance Sheet (BS) – Shows assets, liabilities, and shareholder equity.
○ Income Statement (IS) – Displays company revenue and expenses.
2. Types of Audit (SSCS: Statutory, Special, Cost, Social Responsibility)
○ Statutory Audit (SA) – Mandatory audit of company financial records as per law.
○ Special Audit (SpA) – Focused audits conducted for fraud detection or financial
discrepancies.
○ Cost Audit (CA) – Verification of cost accounts to ensure efficiency in production.
○ Corporate Social Responsibility (CSR) – Businesses' ethical commitment to social and
environmental causes.

Other Legislations (Unit 5)

1. SEBI (Securities and Exchange Board of India) – RMR (Regulation, Monitoring, Rules)
○ Regulation (R) – Ensuring fair trade practices in stock markets.
○ Monitoring (M) – Keeping an eye on fraudulent stock market activities.
○ Rules (R) – Implementing policies for investor protection.
2. FEMA (Foreign Exchange Management Act) – FIEM (Foreign, Investment, Exchange, Money)
○ Foreign Transactions (F) – Governs foreign currency exchanges.
○ Investment (I) – Regulates foreign investments in Indian companies.
○ Exchange Rate Policies (E) – Ensures stability in forex markets.
○ Money Laundering Control (M) – Prevents illegal money transfers across borders.
3. IRDA (Insurance Regulatory and Development Authority) – RCI (Regulation, Consumer,
Insurance)
○ Regulation (R) – Governs insurance companies and their operations.
○ Consumer Protection (C) – Ensures fair treatment of policyholders.
○ Insurance Growth (I) – Promotes healthy competition in the insurance sector.
4. Consumer Protection Act (CPA) – RIP (Rights, Information, Protection)
○ Rights (R) – Ensures consumer rights like safety, choice, and redressal.
○ Information (I) – Prevents misleading advertisements and false claims.
○ Protection (P) – Establishes consumer forums for resolving disputes.

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Management Accounting
25 March 2025 19:19

Unit 1: Introduction to Accounting (MAC: Management,

Accounting, Costing)
1. Management Accounting (MA) – FIN (Financial, Internal, Non-mandatory)
○ Financial Decision-Making (F) – Helps in business decision-making.
○ Internal Use (I) – Used by managers, not external parties.
○ Non-Mandatory (N) – No legal requirement to follow specific formats.
2. Nature and Scope of Management Accounting (PAID: Planning, Analysis, Interpretation,
Decision-making)
○ Planning (P) – Helps in budget and forecasting.
○ Analysis (A) – Examines financial trends.
○ Interpretation (I) – Converts data into meaningful insights.
○ Decision-Making (D) – Guides business strategies.
3. Cost Accounting (CA) & Management Accounting (MA) – DMQ (Decision-making,
Measurement, Quality Control)
○ Decision-Making (D) – Provides cost-based insights for planning.
○ Measurement (M) – Tracks expenses and production costs.
○ Quality Control (Q) – Ensures cost efficiency in production.
4. Differences Between Accounting Types (MAC-FAC)
○ Management Accounting (MA) – Future-focused, internal use.
○ Financial Accounting (FA) – Past-focused, external reporting.
○ Cost Accounting (CA) – Tracks production costs.

Unit 2: Budgeting (BFTS: Budgeting, Flexible, Types, Sales &

Production)
1. Budgeting (B) – PCE (Planning, Controlling, Evaluating)
○ Planning (P) – Estimates future expenses.
○ Controlling (C) – Ensures spending aligns with targets.
○ Evaluating (E) – Measures actual vs. planned performance.
2. Types of Budget (F-FPS: Flexible, Functional, Production, Sales)
○ Flexible Budget (F) – Adjusts based on activity levels.
○ Functional Budget (F) – Includes departmental budgets.
○ Production Budget (P) – Plans production output.
○ Sales Budget (S) – Forecasts future sales.

Unit 3: Standard Costing and Variance Analysis (SCVA:

Standard Costing, Variance Analysis)
1. Standard Costing (SC) – BME (Benchmarking, Monitoring, Efficiency Control)
○ Benchmarking (B) – Sets standard costs for comparison.
○ Monitoring (M) – Tracks cost deviations.
○ Efficiency Control (E) – Ensures cost-effective operations.
2. Variance Analysis (VA) – MM (Material & Labour Variance)
○ Material Variance (M) – Differences in raw material costs.
○ Labour Variance (M) – Variations in labor cost efficiency.

Unit 4: Break Even Analysis (CVP: Cost-Volume-Profit)

1. Break-Even Analysis (BEA) – CMP (Cost, Margin, Profit)
Cost-Volume-Profit (C) – Relationship between costs and revenue.

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 ○ Cost-Volume-Profit (C) – Relationship between costs and revenue.
○ Margin of Safety (M) – Extra sales above break-even level.
○ Profitability (P) – Determines minimum sales for profit.
2. Break-Even Chart (BEC) – GV (Graphical View, Visualizes Profitability)
○ Graphical Representation (G) – Shows cost and sales balance.
○ Visualizes Profitability (V) – Helps in pricing decisions.

Unit 5: Management Reporting (FIS: Financial Information

System)
1. Financial Information System (FIS) – NIA (Need, Importance, Accuracy)
○ Need (N) – Essential for business decision-making.
○ Importance (I) – Helps managers control finances.
○ Accuracy (A) – Ensures reliable financial reports.
2. Good Reporting System (GRS) – CUT (Clarity, Usefulness, Timeliness)
○ Clarity (C) – Information should be simple to understand.
○ Usefulness (U) – Must support business decisions.
○ Timeliness (T) – Reports should be timely and relevant.

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Tourism and Sustainable development
25 March 2025 19:21

Unit 1: Introduction to Tourism (TOUR: Tourism Overview,

Utility, Reach)
1. Overview of Tourism Industry (TIN: Tourism Industry Network)
○ Tourism includes travel for leisure, business, or cultural experiences.
○ It connects people globally and boosts economies.
2. Concept of Tourism (TREK: Travel, Recreation, Exploration, Knowledge)
○ It involves visiting places for various purposes like relaxation, learning, or adventure.
○ Tourism is classified into leisure, business, medical, and religious tourism.
3. Importance of Studying Tourism (GET: Growth, Employment, Trade)
○ It helps in economic and cultural growth.
○ Creates employment and business opportunities.
4. Scope of Tourism (LEAP: Local, Economy, Adventure, Preservation)
○ Covers local, national, and international tourism sectors.
○ Involves adventure tourism, eco-tourism, and cultural tourism.
5. Economic Importance (GDB: GDP, Development, Business)
○ Contributes to GDP and foreign exchange earnings.
○ Boosts local businesses and infrastructure.
6. Impact of Tourism (SEE: Social, Economic, Environmental)
○ Social: Promotes cultural exchange and understanding.
○ Economic: Creates jobs and boosts infrastructure.
○ Environmental: Can lead to pollution or conservation efforts.

Unit 2: Elements of Tourism (AAA-THP: Attraction,

Accessibility, Accommodation - Tourism, Hospitality, Public
relations)
1. Attraction (NHC: Natural, Historical, Cultural)
○ Sites like beaches, mountains, and heritage monuments.
2. Accessibility (MTV: Modes of Transport & Visa)
○ Tourism requires proper transport (road, rail, air).
○ Visas and travel permissions are crucial.
3. Accommodation (HRS: Hotels, Resorts, Stays)
○ Hotels, guest houses, and resorts cater to tourists.
4. Tourism Products (CUT: Culture, Unique, Tangible/Intangible)
○ Products include travel experiences, services, and events.
5. Types of Tourism (MREC: Medical, Religious, Eco, Cultural)
○ Medical (healthcare), religious (pilgrimages), eco (nature-focused), cultural (heritage
tours).
6. Hotel Industry (CHD: Chains, Hospitality, Departments)
○ Major hotel chains provide standardized hospitality.
○ Departments like front office, housekeeping, and F&B services play key roles.
7. Tourist Guide & Escort (INF: Information, Navigation, Facilitation)
○ Guides assist with historical and cultural knowledge.
○ Escorts ensure smooth travel experiences.
8. Public Relations (BIC: Branding, Image, Communication)
○ Promotes tourism through marketing and customer relations.

Unit 3: Travel Operations (TAV-CB: Travel Agency, Visa -

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Unit 3: Travel Operations (TAV-CB: Travel Agency, Visa -
Currency, Baggage)
1. Travel Agency & Tour Operator (PSS: Planning, Services, Support)
○ They plan travel, book tickets, and provide tour packages.
2. Travel-Related Documents (PVCC: Passport, Visa, Currency, Customs)
○ Passport: Identity proof for international travel.
○ Visa: Official permit to enter another country.
○ Currency: Foreign exchange regulations.
○ Customs: Rules on carrying goods across borders.
3. Health & Baggage Regulations (HBB: Health, Baggage, Border Control)
○ Health requirements like vaccination and medical insurance.
○ Baggage restrictions on weight and prohibited items.

Unit 4: Transportation in Tourism (TIR-ATA: Transport in

Railways - Airlines, Taxis, Automobiles)
1. Role of Transport (CAT: Connectivity, Accessibility, Time-saving)
○ Enables movement of tourists efficiently.
○ Good transport systems boost tourism.
2. Indian Railways & Special Trains (PRR: Palace on Wheels, Royal Orient, Rajdhani)
○ Palace on Wheels & Royal Orient offer luxury experiences.
○ Rajdhani & Shatabdi provide fast travel.
3. Airlines (IAI: Indian & International Airlines)
○ Domestic airlines: Air India, IndiGo, Vistara.
○ International airlines connect India to the world.
4. Taxi & Bus Services (PBL: Private, Budget, Luxury)
○ Range from budget cabs to premium tour buses.

Unit 5: Travel Circuits (GDB-BS: Golden Triangle, Desert,

Buddhist - Beach, Sun & Sand)
1. Popular Tourism Circuits in India (GDB-BS)
○ Golden Triangle (Delhi-Agra-Jaipur) – Cultural & heritage tour.
○ Desert Circuit (Rajasthan) – Jaisalmer, Bikaner, Jodhpur.
○ Buddhist Circuit – Lumbini, Bodhgaya, Sarnath, Kushinagar.
○ Beach & Sun-Sand Circuits – Goa, Kerala Backwaters, Andaman.
2. International Circuits (HRE: Historical, Religious, Eco-tourism)
○ Europe’s historical circuits (Paris, Rome, London).
○ Religious circuits like Mecca pilgrimage.
○ Eco-tourism in the Amazon and African safaris.

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