BBA404- SMALL BUSINESS MANAGEMENT

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ASSIGNMENT

DRIVE	SPRING 2016
PROGRAM	BBA
SUBJECT CODE & NAME	BBA404- SMALL BUSINESS MANAGEMENT
BOOK ID	B1712
SEMESTER	4
CREDITS	2
MARKS	30

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q1 Write short notes on the following:

a) Various forms of organisation

Answer : 1.         Formal organization –

a.            The establishment and the development of this type of the organization are very formal in the nature.

b.            Helps in providing a shape to the various organized activities.

c.             The Formal organization is developed for a continuous purpose mainly involving the activities that are repetitive in the nature.

d.            This organization looks after the growth and the stability in the business.

e.            In the Formal organization, the design is such that that it acts as a great support for the distribution of the authority, creation of the

b) Competitive strategies

Answer : Competitive Strategy is defined as the long term plan of a particular company in order to gain competitive advantage over its competitors in the industry. It is aimed at creating defensive position in an industry and generating a superior ROI (Return on Investment). Such type of strategies play a very important role when

Q2 Elaborate on materials management and its functions. Define Robert Katz’s essential

management skills.

Answer : The need for materials management was first felt in manufacturing undertakings. The servicing organizations also started feeling the need for this control. And now even non-trading organizations like hospitals, universities etc. have realized the importance of materials management. Every organization uses a number of materials. It is necessary that these materials are properly purchased, stored and used.

Any avoidable amount spent on mate

Q3 Describe the following:

(a) Factors affecting working capital requirements

Answer : Requirements Of working capital depend upon various factors such as nature of business, size of business, the flow of business activities. However, small organization relatively needs lesser working capital than the big business organization. Following are the factors which affect the working capital of a firm:

 (b) Chit fund

Answer : A Chit fund is a kind of savings scheme practiced in India. A chit fund company is a company that manages, conducts, or supervises such a chit fund, as defined in Section of the Chit Funds Act, 1982. According to Section 2(b) of the Chit Fund Act, 1982:

"Chit means a transaction whether called chit, chit fund, chitty, kuree or by any other name by or under which a person enters into an agreement with a specified number of persons that every one of them shall subscribe a certain sum of

 (c) Activity Based Costing (ABC)

Answer : Activity based costing (ABC) assigns manufacturing overhead costs to products in a more logical manner than the traditional approach of simply allocating costs on the basis of machine hours. Activity based costing first assigns costs to the activities that are the real cause of the overhead. It then assigns the cost of those activities only to the products that are actually demanding the activities.

Activity based costing recognizes that the

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