This course includes a set of modules of the fundamental principles of management and is a systems approach to management at a basic level. The modules are those of the four lines or functional areas of management: production and operations, marketing, human resource, economics.
Fundamentals of Management attempts to cover a wide range of subjects, which has necessitated limiting in depth analysis generally. Also, not all the topics which would fully encompass the functional areas of management can be included.
The focus of the course is the business environment in Barbados. The student is therefore given an insight into the economy of Barbados. At the micro-economic level, there are a number of important concepts which have been included as bases for decision making in various areas of management. These concepts include the definition of economics itself, within whose framework all proper business decisions must be made, marginal analysis, supply and demand, prices and profits, and market models.