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Business Management, Ethics & Entrepreneurship

Business Management, Ethics & Entrepreneurship

CS Foundation - Paper 2 : Business Management, Ethics & Entrepreneurship

 ICSI has introduced this paper, Business Management Ethics & Entrepreneurship, at the CS Foundation level where students will learn about business organisations, managing areas such as finance, marketing, IT, communication, human resources, etc. In addition, students will learn how to conduct themselves professionally and in an ethical manner. They will also develop entrepreneurial skills. 

Part A: Business Management
Part C : Business Communication
Importance of Organization, Process, Difference between delegation and decentralization
Paper 1
Paper 3
Paper 4

More about Business Management, Ethics & Entrepreneurship

What is Business Management, Ethics & Entrepreneurship?
  • “Management is doing things right”- It is the study of understanding how things can get done through people. Business Management is the in-depth study of managerial functions such as Planning, Organising, Staffing, Directing and Controlling  
  • Ethics is the study of moral behaviour. You will be studying ethics in business, that is, ethical dilemmas or ethical issues faced in Organisations and ethical standards or practices that are to be followed  
  • Business Communication is an integral part of any business organisation focusing on essentials of good English, different types of business correspondence and e- correspondences   
  • Entrepreneurship is one of the major driving forces of the modern global economy. It creates jobs, encourages a competitive economic environment and generates wealth and prosperity. In this era of business start-ups, identifying and helping those with determination to develop their competencies to set up business and manage them becomes important  
Why has ICSI introduced this paper, Business Management, Ethics & Entrepreneurship at CS Foundation Level?
  • Studying Business management & Entrepreneurship enables you to develop a broad understanding of business organisations and provides you with an in-depth knowledge about managing areas such as finance, marketing, IT, communication, human resources, etc.   
  • It is important for a CS student to understand skills of management that help him develop as a better manager and face the real-life challenges that occur due to lack of management  
  • Clear communication is one of the most sought-after skills by the industry/employers. CS Foundation students are expected to enhance their writing skills effectively with clarity and precision. As a CS aspirant, you must acquaint yourself with the skills of effective communication. Also, for Company Secretaries, drafting skills play a very important role; good practice of written communication becomes altogether important for examinations at next level 
  • As a professional, you are expected to conduct yourself with professionalism and follow good ethical practices. You are bound by codes of ethics outlined by the Institute. This way, your clients know that you can be relied upon to conduct yourself professionally and with good ethical behaviour and may use your service long term   
What are the topics covered in Business Management, Ethics & Entrepreneurship?
  • Introduction to concepts of management and its Nature  
  • Concepts on Planning, Budgeting and Decision making  
  • Organisation and its functions such as Delegation, decentralisation  
  • Concepts of Human Resource Management, Recruitment, Training, etc.  
  • Direction, Co-ordination and controlling  
  • Risk management, Crisis management, Quality management, etc.  
  • Business Ethics  
  • Business communication and correspondences with different departments  
  • Concepts on Entrepreneurship, growth and challenges faced by Entrepreneurs  
  • Government Initiatives for Business Development  
What is the best approach to studying for the Business Management, Ethics & Entrepreneurship paper?
  • Conceptualise: Although business management is a theory paper, it deals with practical aspects and issues faced by different levels of management. Clear conceptualisation helps you easily understand this paper and score high marks  
  • Study Notes: Making short notes and mapping keywords in every paragraphs and graphical presentation of notes will help you recall important points to revise before the exam  
  • Solving Mock Papers: It is very useful to solve mock papers as it familiarises you with the question paper pattern and the approach to solve analytical questions  
  • Revise: Always remember, it is always the power of re-calling in the exam that helps you excel. You may study once or twice, but your ability to revise and re-call what you have studied is what helps you during exams. Train you brain to re-call concepts as soon as you see the name of the topic. This is one of the best approaches to crack theory papers 
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