BBA409 - Small Business Management

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PROGRAM BACHELOR OF BUSINESS ADMINISTRATION (BBA)

SEMESTER IV

BBA409 – Small Business Management

Q1. List and explain the three levels of Strategy. Differentiate and provide their characteristics.

a) Explanation of the three levels of Strategy.

b) Difference.

Answer. Levels of strategy

There are three levels of strategy.

1. Corporate strategy: This is the strategy adopted for the entire company which generally covers Finance, Human Relations and the values and ethical dimensions of operations of a company. In a single product company, the strategy worked out will also cover all the functional strategies.

2. Business strategy: In a multi-product company, this refers to the strategy to be adopted by each division, also

Q2. ISO 9001:2000 is based on 8 Quality Management principles. List and explain the

principles.

Explanation of the 8 principles.

Answer:

ISO 9001:2000 Quality System

ISO 9001:2000 is based on 8 Quality Management principles.

A Quality Management Principle is a comprehensive and fundamental rule or belief for leading and operating an organisation aimed at continually improving performance over the long term by focusing on customers while addressing the needs of all other stake holders

Q3. There are several ways to procure working capital. List and explain.

Explanation of the sources of working capital

Answer:

Sources of Working Capital

There are several ways to procure working capital. The main sources are:

1. Trade credit.

2. Friends and relatives.

3. Banks.

4. Internal surplus.

5. Money lenders.

6. Factoring.

7. Chit funds.

8. Leasing.

9. Hire purchasing.

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