Complete Information Of Tamilnadu Open University Mcom Notes

Complete Information Of Tamilnadu Open University Mcom Notes

Tamilnadu Open University Mcom Notes : The Tamil Nadu Open University was established by an Act of the Legislative Assembly of the Government of Tamil Nadu to benefit those who have been  deprived of and/or denied the access to higher education especially destitute, physically challenged, working men and women, economically weaker sections of the society, and those who discontinued education for various reasons, etc. In the main, it aims to reach the hitherto unreached. The University offers many Programmes in various disciplines.

Complete Information Of Tamilnadu Open University Mcom Notes

Tamilnadu Open University Mcom Notes : The Master of Commerce typically requires two years of full-time study. The curriculum is generally concentrated on one subject area — such as accounting, actuarial science, business management, corporate governance, human resource management, economics, statistics, finance, marketing or supply chain management — and emphasizes underlying theory. Relatedly, programs usually include a thesis component, and may be exclusively research based.

Given this structure, the MCom differs from other business and management degrees: Its concentration on one area distinguishes it from generalist degrees, such as the MBA. Some universities offer the MCom in general management, although this is more similar to the Master of Management than to the MBA; see also Master of Business. As compared to specialised Professional degrees – such as the Master of Science in Finance or Master of Accounting – the MCom places more emphasis on theory, although sometimes less on practice; generally, though, there is a close correspondence between these degrees and the related MCom; see also Master of Science in Management.

Admission to the MCom is usually on the basis of an existing Bachelor’s, or similar compatible degree, generally the Bachelor of Commerce; often, an “Honours degree” will be required. Depending on the degree focus, a related undergraduate major and / or a fairly strong quantitative background may also be a prerequisite. Some MCom programs admit students from non-business backgrounds such as liberal arts, engineering, or the sciences – these programs usually require that students complete a bridging course,  or undertake an extended program.

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Complete Information Of Tamilnadu Open University Mcom Notes

Tamilnadu Open University Mcom Notes : Tamilnadu Open University previous years Mcom notes are very rare to obtain from the internet. We put all our efforts to bring all the previous year’s Tamilnadu Open University Mcom question papers. All most you all know the importance of the previous year Mcom old question papers. When you start your semester preparations, it is better to start with the past Tamilnadu Open University Mcom question papers. But in most of the cases we will not be able to get the question papers of previous years. In that case it is better to go with some model question papers and sample question papers specifically set for Tamilnadu Open University Mcom by some experts and old students. Here we list out all those previous years question papers, Tamilnadu Open University model question papers and some sample question papers with respect to the Tamilnadu Open University Mcom syllabus based notes given here in pdf format.

Mcom Notes 1-4 semester – complete details

Tamilnadu Open University Mcom Notes  :

M. Com. (Part-I

1) Human Resource Management (Paper-I) English : 

Tamilnadu Open University Mcom Notes : In this article, we look at the question “what is HRM ?” by giving a broad overview of the topic and introducing the readers to the practice of HRM in contemporary organizations. Though as with all popular perceptions, the above imagery has some validity, the fact remains that there is much more to the field of HRM and despite popular depictions of the same, the “art and science” of HRM is indeed complex. We have chosen the term “art and science” as HRM is both the art of managing people by recourse to creative and innovative approaches; it is a science as well because of the precision and rigorous application of theory that is required.

As outlined above, the process of defining HRM leads us to two different definitions. The first definition of HRM is that it is the process of managing people in organizations in a structured and thorough manner. This covers the fields of staffing (hiring people), retention of people, pay and perks setting and management, performance management, change management and taking care of exits from the company to round off the activities. This is the traditional definition of HRM which leads some experts to define it as a modern version of the Personnel Management function that was used earlier.

The second definition of HRM encompasses the management of people in organizations from a macro perspective i.e. managing people in the form of a collective relationship between management and employees. This approach focuses on the objectives and outcomes of the HRM function. What this means is that the HR function in contemporary organizations is concerned with the notions of people enabling, people development and a focus on making the “employment relationship” fulfilling for both the management and employees.

These definitions emphasize the difference between Personnel Management as defined in the second paragraph and human resource management as described in the third paragraph. To put it in one sentence, personnel management is essentially “workforce” centered whereas human resource management is “resource” centered. The key difference is HRM in recent times is about fulfilling management objectives of providing and deploying people and a greater emphasis on planning, monitoring and control.

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Whatever the definition we use the answer to the question as to “what is HRM?” is that it is all about people in organizations. No wonder that some MNC’s (Multinationals) call the HR managers as People Managers, People Enablers and the practice as people management. In the 21st century organizations, the HR manager or the people manager is no longer seen as someone who takes care of the activities described in the traditional way. In fact, most organizations have different departments dealing with Staffing, Payroll, and Retention etc. Instead, the HR manager is responsible for managing employee expectations vis-à-vis the management objectives and reconciling both to ensure employee fulfillment and realization of management objectives.

In conclusion, this article has briefly touched upon the topic of HRM and served as an introduction to HRM. We shall touch upon the other topics that this field covers in other articles.

Following are the important concepts of Human Resource Management:

  • Importance of HRM
  • Scope of HRM
  • Various Processes in HRM
  • What is Human Resource Planning ?
  • The HRM Function
  • Functions of a Human Resource Manager
  • Staffing Role of the HR Manager
  • Role of HRM in Leadership Development
  • Role of HR in People Empowerment
  • Talent Management and HRM
  • Performance Management as a HR Management Concept
  • Hiring Strategies
  • Retention Strategies

2) Introduction to Strategic Management : 

Tamilnadu Open University Mcom Notes : This chapter introduces the business challenges of a turbulent and ambiguous competitive landscape that is driven by globalization trends and rapid changes in technology. The emergence of the field of strategic management is a response to the competitive environment, and it is briefly presented to provide a foundation for the concepts found throughout the text. In a general sense, the central question of strategic management is why some firms outperform other firms. Comprehensively, a firm can be viewed as a bundle of market activities, a bundle of resources, or a network of relationships. These three perspectives are examined in this chapter as the basis for determining the strategic direction of a firm. Defining the process and outlining the major portions of the book, strategic management is reviewed to provide a road map for the topics examined throughout the book. 

3) MARKETING STRATEGIES AND PLAN : 

Tamilnadu Open University Mcom Notes : According to The Marketing Plan Handbook, by Marian Burk Wood (which I highly recommend you read), marketing plans are comprehensive documents that summarize marketplace knowledge and the strategies and steps to be taken in achieving the objectives set by marketing managers for a particular period.

A marketing plan is not a spreadsheet of activities. It’s not an editorial calendar. It’s not a list of campaigns. It’s not a budget or set of goals. It’s not something you think you have in your head.

Below are the four essential topics that must be covered in your marketing plans before you proceed with any specific marketing activities, including content marketing, social media, email promotion, websites, or any other “next big thing” emerging on the marketing landscape:

  1. Assess the current situation:

  •          Determine what resources you have available.
  •          Analyze and summarize your market space(s).
  •          Analyze your company’s internal strengths and weaknesses.
  •          Analyze external opportunities and threats.
  •          Assess the competition and competitive environment.
  •          Assess the macro environment in terms of social, economic, political, and technological opportunities and challenges.
  •          Identify critical issues to be addressed in your marketing activities.
  1. Develop your marketing strategy, including:

  •          Your business mission and vision
  •          Your overarching business objectives
  •          Your marketing objectives
  •          A description of your target market and customers (i.e., buyer personas)
  •          Your unique positioning statement
  •          Your unique value proposition
  1. Craft your marketing program, by outlining:

  •          Your product messaging
  •          Your pricing strategy
  •          The channels you will communicate across
  •          Your promotion plans
  1. Determine your controls, benchmarks, and measurement processes, including:

  •          Budgets and resources
  •          Critical success factors
  •          Key performance indicators
  •          Your preferred technology solutions and platforms

4) M.Com. (Part – I) Economics of Global Trade (Eng) – Rev : 

Tamilnadu Open University Mcom Notes : International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries, including trade, investment and migration.

  • International trade studies goods-and-services flows across international boundaries from supply-and-demand factors, economic integration, international factor movements, and policy variables such as tariff rates and trade quotas.
  • International finance studies the flow of capital across international financial markets, and the effects of these movements on exchange rates.
  • International monetary economics and international macroeconomics study flows of money across countries and the resulting effects on their economies as a whole.
  • International political economy, a sub-category of international relations, studies issues and impacts from for example international conflicts, international negotiations, and international sanctions; national security and economic nationalism; and international agreements and observance.

M. Com. (Part-II)

Complete Information Of Tamilnadu Open University Mcom Notes

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