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Bachelor of Business Management BBM
Sometimes known as a Bachelor of Management Studies, Bachelor of Business Management (BBM) is a three-year undergraduate program offered in Management by various universities worldwide. The course teaches the management techniques that exist in the corporate world.
303 Questions
What is the importance of management theory?
Management theory is important because it is the study of how to make all the people in your organization more productive.
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What are the ways of solving the problem of scarcity in economics?
Expansion of the productive capacity of an economy would help. However, it is likely scarcity will always exist as resources are limited but wants are infinite. So generally, it is how to allocate the resources most efficiently rather than how to solve scarcity, as scarcity can't be solved e.g. the NHS doesn't have the resources available to give everyone certain helathcare, so they have to choose who gets it, so if person A gets cancer treatment the resources are used up, therefore person B can't be treated as the resources were used for person A, so firms have to decide how to allocate resources.
Resources have to be allocated at their optimum level, if this doesn't occur it is known as market failure.
The government can intervene in the form of taxation (placed on a good to discourage its consumption), subsidies (given to firms to encourage production of a good, which makes it cheaper therefore encouraging consumption), regulation (laws used to prevent consumption of a good) and pollution permits (allocated to firms allowing them to produce a certain amount of pollution, they're tradeable which encourages firms to be greener).
What is classification of RTOS?
- Hard RTOS : These type of RTOS strictly adhere to the deadline associated with the tasks. Missing on a deadline can have catastrophic affects. The air-bag example we discussed in the beginning of this article is example of a hard RTOS as missing a deadline there could cause a life.
- Firm RTOS : These type of RTOS are also required to adhere to the deadlines because missing a deadline may not cause a catastrophic affect but could cause undesired affects, like a huge reduction in quality of a product which is highly undesired.
- Soft RTOS : In these type of RTOS, missing a deadline is acceptable. For example On-line Databases.
What are the three management functions Further details...?
1.Planning Function
2.Organizing Function
3.Controlling Function
Planning Function includes determination of objectives, and preparation of an action plan for the organization.
Organizing Function includes assignment of responsibilities with relevant people, for whom individual responsibilities have been identified at the planning stage.
Controlling Function includes the managerial activities in the organization of which, ongoing activities are compared with the planned activities when operations are accomplished.
What factors influence the success of an organization?
INTEGRITY: This may be the most important of all qualities. Employers want an individual who can stick to their word and complete any task and/or project the right way. This includes honesty and doing the right thing in any given situation. Integrity can confirm you dedication to your position.
CONSISTENCY: An individual cannot expect to be successful if he/she is great one week and terrible the next two weeks. A consistent performance is the basis of any success. If an employer does not know what to expect on any given day, they will not likely trust an individual.
RELIABILITY: This is, perhaps, an extension of consistency. A constant performance does not always equal reliability. An employer should be able to trust an individual to complete any task given. That task should also be completed within any given guidelines.
TIMELINESS: Be on time. There should be no need to explain this. Be early, never late. This displays a respect for the time table of a job. "The early bird gets the worm (project)." You also do not want to take a week on a task that should take you two days. Time management is such an important aspect of timeliness.
ORGANIZATION: It does not matter if a person is presenting a project, leading a meeting, providing basic information to a co-worker, or simply need a quick reference for a deadline; if he/she is not organized, he/she may look too messy to trust with anything important.
INITIATIVE: Take initiative. An individual will not know everything in an interview, or on the first day. Taking initiative on the first day or on the fifth year will prove dedication. No employer wants to have to coax an employee through each day/week/month/potential promotion. Initiative is the key to moving up and ahead.
RESPECT: Any given job will require working with a diverse group of individuals, whether it be a small group or a large one. Having respect for others also confirms integrity. The more people an individual can work with, the more versatile he/she is.
OPEN-MINDEDNESS: The career world is ever-changing. To keep up with technologies, processes, ideas, science, etc., companies have to evolve to keep up. Any individual needs to be open to change and to new ideas to keep things up-to-date and appealing.
BALANCE: With so many entities in life, an individual must be able to keep a good grip. Whether it involve balance of home and work, work and social life, or anything else where involvement is required; we have to be able to balance all of it in a relatively calm and equal manner. This ensures "all of the ducks are in a row."
EFFICIENCY: Getting things done right and utilizing all available resources almost guarantees efficiency. Completing a task does not ensure it is done efficiently. An employer will look for an individual that can not only use their time wisely, but can use resources and do the best job that can be done.
Every employer is not looking for exact same set of qualities. Knowing what you are capable of and being able to speak to it can make all the difference in the world. A person can be a perfect employee, but if he/she cannot articulate the skills he/she possesses, an employer may not be able to see a reason to hire. This leads to ARTICULATION and COMMUNICATION. Though, they can be combined as one, each of these are vital in success. There are more than 10 top qualities an employer will seek, you may just need to appeal to the 10 your potential employer are looking for. Try research before an interview.
What is the deference between economics and economic?
Economics is the social science that studies how individuals, businesses, and governments allocate scarce resources to meet needs and wants, analyzing concepts like supply and demand, production, and consumption. In contrast, "economic" is an adjective describing anything related to economics, such as economic policies, economic growth, or economic theories. Essentially, economics is the field of study, while economic refers to its applications or characteristics.
How do you answer 'Why is corporate finance important to all managers'?
A person can answer the question of why they chose a certain position in a variety of ways, including their interest in the career and the advancement opportunities.. It is important to be honest with interview questions.
Why lifelong learning is considered important in today's business environment?
One reason is this. If there is anything that is steadfast and unchanging it is change itself. Change will always occur. It's inevitable. Whether the change is a positive or negative one depends on accumulated knowledge and the wisdom to apply that knowledge appropriately. We as a society must adopt the mentality that learning is forever if we hope for the stability and long-term survivability of human existence as we would hope for it to be.
Within the business sector it relates to the same type of mentality. Businesses must respond to the positive and negative internal and external driving forces which are constantly in flux. For growth to occur, there must be change, and sometimes positive change comes through the ability to analyze through simplicity of thought events that have occurred and their consequences both good and bad. As a result, the object is to pick the best practice and promote succession of successful outcomes through the development of appropriate methodology in an effort the achieve company goals and objectives. Nothing can grow without change, and positive change cannot occur without the acquisition of knowledge through learning.
Now some of the changes that businesses must be cognizant of, learn about, and respond to are as follows.
Internal Driving Forces - changes in:
* Internal political events
* Corporate culture and sub-cultures * Internal technological capacity
* Employee proficiency, efficiency, and productivity * Financial stability * Professional development * Human resources * Appropriate communications External Driving Forces - changes in:
* Political environment * Economic environment * Social and/or cultural environment * Technological environment * Demographic changes * Competition strategies and tactics The above are just some issues to be addressed by a business whether large or small. Still, the point is this. Nothing positive can be realized without the willingness to continually learn and apply that accumulated knowledge appropriately, strategically, and tactfully for the overall benefit of the business, its employees, and the customers in whom they supply and service.
The skill or ability to work effectively through and with other people.
What are planning and conducting process?
planning means you will just decide what to do and what to not do..... but conducting means you have already decided that you will do that kind off work and you are doing it
Why does your picture not come up on BBM?
Your BBM might not ne working cause it was on the news that their was a problem but just delete the app and try again:)
An entrepreneur is a person who starts a new firm and bears the most of the risks while reaping the majority of the benefits. Entrepreneurship refers to the process of starting a business. The entrepreneur is frequently portrayed as a pioneer, a provider of novel ideas, products, services, and/or business processes.
What are elective subjects in 6th semester bbm and how it is to be selected.?
Elective areas may be particular and specific to the department within an institution offering a program of study. It's a matter of preference and the departmental approach. Some departments feel humanities is more important as a elective, where others may feel a social science, general, or technical electives are more important for their specific program of study. There is really no secret or formula used.
What factors influencing ethical behavior?
Three general sets of factors do appear to influence the standards of behavior in an organization , the sets consist of individual factors , social factors, opportunities.
What are the determinants of industrial relations?
The determinants of a good industrial relations are as follows
1.measures for securing and preserving unity and better relations between employees and employer.
2.Arrangement to probe and settle industrial disputes between employer and employees/employer and employer/employee and employee,give proper representations to employee union and employer association.
3.Both ultimate weapons of employer and employees-strike and lock-outs should be prevented at all cost.
4.Participation of employees at all levels and encourage give and take principle in CBA.
Characteristics of managerial Managerial economics?
It is mostly Micro economics and sometimes Macro economics
It is application of economics in business management
It helps to seek cost effective solutions hence it is normative in approach
it is pragmatic in nature
It is prescriptive in approach
If you were going after your BBM and discontinued your studies in the final year, you would have to check with the school to see if you can directly write your exam after three years.
