BBA 3rd Year Responsibilities and Tasks of Top Management Long Question Answer Study material Notes Last 3 year examination papers solved Syllabus Semester wise Topic Wise with Question Answer
BBA 3rd Year Responsibilities and Tasks of Top Management Long Question Answer | Index
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BBA 1st 2nd 3rd Year Study Material Notes
(Long Answer Questions)
Q.1. What are the objectives of business? Give in detail.
Ans. Obiectives of Business: Your business objectives are the results you hope to achieve and maintain as you run and grow your business. As an entrepreneur, you concern with every aspect of your business and need to have clear goals in mind for your company. Having a comprehensive list of business objectives creates the guidelines that become the foundation for your business planning. This comprehensive list includes:
1. Profitability: Maintaining profitability means making sure that revenue stays ahead on me costs of doing business, according to James Stephenson, writing for the ‘Entrepreneur wewn. Focus on controlling costs in both production and operations while maintaining the prom on products sold.
2. Productivity: Employee training, equipment maintenance and new equipment purchases all go into company productivity. Your obiective should be to provide all of the resource need to remain as productive as possible.
3. Customer Service: Good customer service helps you retain clients
comer service helps you retain clients and generate, repeat revenue. Keeping your customers happy should be a primary objective of your organisation.
4. Employee Retention: Employee turnover costs you money in lost productivity an associated with recruiting, which include employment advertising and paying placement agencies, Maintaintaining a productive and positive employee environment improves retention, according to the Dun and Bradstreet website.
5. Core Values: Your company mission statement is a description of the core values of your company, according to the Dun and Bradstreet website. It is a summary of the beliefs your company holds in regard to customer interaction, responsibility to the community and employee satisfaction. The company’s core values become the objectives necessary to create a positive corporate culture.
6. Growth: Growth is a planned based on historical data and future projections. Growth requires the careful use of company resources such as finances and personnel, according to Tim Berry, writing on the ‘Entrepreneur’ website.
7. Maintain Financing: Even a company with good cash flow needs financing contacts in the event that capital is needed to expand the organisation, according to Tim Berry, writing on the ‘Entrepreneur’ website. Maintaining your ability of finance operations means that you can prepare for long-term projects and address short-term needs such as payroll and accounts payable.
8. Change Management: Change management is the process of preparing your organisation for growth and creating processes that effectively deal with a developing marketplace. The objective of change management is to create a dynamic organisation that is prepared to meet the challenges of your industry.
9. Marketing: Marketing is more than creating advertising and getting customer input on product changes. It is understanding consumer buying trends, being able to anticipate product distribution needs and developing business partnerships that help your organisation to improve market share.