BBA - BASIC BUSINESS ADMINISTRATION

What is entrepreneurship?

• Entrepreneurship is the process of investing in existing businesses.

• Entrepreneurship is the process of avoiding risks and challenges in business.

• Entrepreneurship is the process of following traditional business models.

• Entrepreneurship is the process of designing, launching, and running a new business, often initially a small business, offering a product, process, or service for sale or hire.

Name one marketing strategy used by businesses.

• Ignoring customer feedback

• Targeted advertising

• Randomly posting on social media

• Mass emailing

Explain the concept of financial management in business.

• Financial management is not essential for business success

• Financial management does not involve budgeting or forecasting

• Financial management in business is the process of planning, organizing, directing, and controlling financial activities to achieve the organization's financial goals.

• Financial management is only concerned with profit maximization

Why is human resources management important in a business?

• Human resources management is only important for large businesses, not small ones.

• Human resources management is crucial for recruiting, training, and managing employees to maximize their potential and drive business success.

• Human resources management is primarily focused on paperwork and bureaucracy, not employee development.

• Human resources management has no impact on employee performance.

Discuss the significance of business ethics in the corporate world.

• Business ethics are only relevant in small businesses

• Business ethics are essential for maintaining trust, reputation, and sustainability in the corporate world.

• Ignoring business ethics leads to increased profits

• Business ethics have no impact on corporate success

How does global business impact local economies?

• Global business can create jobs, introduce new products and services, increase competition, drive innovation, and provide access to international markets, all of which can have both positive and negative effects on local economies.

• Global business has no impact on local economies

• Global business does not affect competition in local economies

• Global business leads to decreased job opportunities in local economies

What are the key characteristics of a successful entrepreneur?

• Creativity, resilience, adaptability, passion, strong work ethic, willingness to take risks, ability to learn from failures, effective communication skills

• Inflexible, poor work ethic, fear of failure, ineffective communication skills

• Introverted, impulsive, risk-averse, lack of passion

• Uncreative, easily discouraged, unwilling to take risks, lack of adaptability

Give an example of a successful marketing campaign.

• Coca-Cola's 'Drink Water' campaign

• Adidas' 'Just Don't Do It' campaign

• McDonald's 'Eat Less' campaign

• Nike's 'Just Do It' campaign

How can businesses effectively manage their finances to ensure profitability?

• By creating a detailed budget, monitoring cash flow, reducing expenses, increasing revenue, investing wisely, and seeking professional advice.

• By overspending on unnecessary expenses

• By randomly investing in stocks

• By ignoring financial statements

What are the main functions of a human resources department?

• Recruitment, training, performance management, employee relations, compliance

• Payroll processing, marketing, inventory management

• Legal services, IT support, facilities management

• Customer service, sales, product development