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Core management concepts MN2177

The course covers the main areas of general management and the intellectual foundations of management concepts. It is the basis upon which more specialised functional management courses can be taken.


Prerequisite: A course that you must have ordinarily attempted all elements of before you are permitted to register for another particular course.

If taken as part of a BSc degree, one of the following courses must be attempted before this course may be taken: MN1178 Business and management in a global context or MN1107 Introduction to Business and Management.

Topics covered

  • Introduction
  • Management and the Firm
  • Taylorism, Motivation, and Performance
  • The Rise and Decline of Labour
  • Functions of Management
  • Financial Performance Analysis and Valuation
  • The Origins of Modern Strategy
  • Structural Forms
  • Structural and Organisational Change
  • Contemporary Strategic Management
  • The Rise of Human Resources Management
  • Origins of Management Science
  • Management Accounting: Costing:
  • Management Accounting: Decentralization and Performance Measurement
  • Financial Accounting
  • Investment Management
  • Strategy and Decision Making
  • The Origins of Marketing: The Development of the Theory
  • Elements of Marketing 1: Product, Price and Place
  • Elements of Marketing 2: Brands and Advertising.

Learning outcomes

If you complete the course successfully, you should be able to:

  • Demonstrate understanding of core management concepts
  • Apply these concepts to specific business situations
  • Analyse and evaluate managerial tools such as balance sheets and marketing plans
  • Explain the relevance of social science to business practice.


Unseen written examination (3 hrs).

Essential reading

  • Willman, P. Understanding management: social science foundations. Oxford: Oxford University Press, 2014. [ISBN 9780198716921].
  • Kaplan, R. and A. Atkinson. Advanced management accounting. Harlow: Pearson Education, 1998. Third edition [ISBN 9780130802200].

Course information sheets

Download the course information sheets from the LSE website.