DBB3115 SMALL BUSINESS MANAGEMENT

Description

SESSION	APRIL 2024
PROGRAM	BACHELOR OF BUSINESS ADMINISTRATION (BBA)
SEMESTER	V
COURSE CODE & NAME	DBB3115-SMALL BUSINESS MANAGEMENT

 

 

Assignment Set – 1

 

1. (a) Discuss the nature of Small Business in detail.

(b) Critically discuss problems affecting Small Businesses in brief.         5+5     

Ans 1.

1. Nature of Small Business

Small-scale businesses are essential to the economy of several countries, and are important contributors to the creation of jobs, innovations, and local economies. They are characterized by their small size in terms of workforce, revenue and market reach These businesses typically operate in a specific region offering specialized items or products. Smaller businesses are usually privately owned and operated by small groups of individuals which allows for a close and more intimate relationship with their clients. This personal interaction creates an understanding of the needs of customers and allows quick adaptation to changes in the market. Additionally, small-sized businesses are frequently seen as breeding conditions for innovation because of their flexibility and entrepreneurial spirit of

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2. (a) Explain Porter’s five forces model in detail.

(b) How SWOT Analysis would be helpful for the business? Explain.   

Ans 2.

1. Porter’s Five Forces Model

Porter’s Five Forces Model, developed by Michael E. Porter, is a framework for strategic analysis to study the forces of competition in an area. The model assists businesses in understanding the nature of their business and devise strategies to improve their competitiveness. Five forces:

1. Threat of New Entrants: The force analyzes the ease or difficulty it is for new competitors to get into the market. Factors like capital requirements economies of scale, brand loyalty, as well as regulatory

 

3 (a) Discuss importance of Marketing Management in detail.

(b) Explain points to be considered while preparing business plan.

Ans 3.

1. Importance of Marketing Management

Marketing management plays an essential part in the success and growth of any company. This involves planning, carrying out, and overseeing strategies for marketing to efficiently reach and engage the target audience. One of the main objectives of marketing management is to comprehend consumer needs and preferences. Through conducting a thorough market study companies can determine the needs of their customers and then tailor their products or services to meet their needs. This

 

 

 

Assignment Set – 2

 

 

4. (a) Discuss various types of manufacturing process in detail.

(b) Elaborate importance of Financial Management in an organization.           

Ans 4.

1. Types of Manufacturing Processes
2. Job Shop Manufacturing

Manufacturing in a job shop is distinguished by the manufacturing of small batches of a variety of customized products. Each job is distinct, and machines are organized according to purpose. This method is flexible and will accommodate any special needs, however, it can also result in more expensive production costs because of smaller volumes.

Batch Production

Batch manufacturing makes goods in groupings or in batches. Each batch is subject to one step of the manufacturing process

 

5. Write a note on Vertical and Horizontal Analysis in detail.

Ans 5.

Vertical and Horizontal Analysis

Horizontal and vertical analysis are two of the most fundamental methods employed in the analysis of financial statements to assess how well a company’s financial score is and the the position of a business. Both techniques provide insight into financial information, allowing stakeholders to make better decisions.

Vertical Analysis: Vertical analysis, commonly referred to as common-size analysis is the process of presenting every

 

 

6. (a) Define Activity Based Costing in detail.

(b) Discuss required managerial skills in detail  

Ans 6.

1. Activity Based Costing

Activity-based Costing (ABC) is an approach to assign indirect and overhead costs to specific tasks and then distributing these costs to products or services based on the consumption from these processes. In contrast to traditional costing systems that allocate costs equally across all products based on volumes, such as direct hour of labor or machine hours, ABC recognizes that different products use resources in different ways. It determines the most important activities within the company and allocates costs to these tasks in accordance with actual usage. This provides a more precise