BBA Notes - Page 6 of 20 - Reference Reading Materials for BBA Students

Importance of Market Segmentation – 10 Major Points | Market Segmentation

July 9, 2022 by Author

Importance of Market Segmentation

Market segmentation is the process of grouping prospective buyers into groups or segments who have similar needs and respond similarly to marketing efforts. Using market segmentation, companies can differentiate their products and services in terms of how they are perceived by different categories of consumers. By determining which products are likely to earn a share of a target market and how to market and deliver those products, market segmentation helps businesses minimize risk.

In order to maximize profitability, companies should minimize risk and clarify the marketing and delivery of products. Segmenting the market allows a company to reach a wider demographic and discover products or services they hadn’t considered before.

Henry Fayol 14 Principles of Management – Father of Modern Management Theory | POM

July 9, 2022 by Author

Henry Fayol 14 Principles of Management

In 1916, Henry Fayol offered fourteen principles of management for the first time. Between 1920 and 1940, many authors worked hard to develop and test various management principles in the U.S. The concept of management was redefined by Henry Fayol, also called the ‘father of modern management theory.’ A general theory was introduced by him that can be applied to all management levels and departments.

Limitation of Scientific Management – Scientific Management Principles | Evolution of Management Thoughts

July 9, 2022 by Author

Limitation of Scientific Management

A scientific management system consists of rules, mechanisms and specialized managers operating in coordination in order to achieve a new standard of control and production. The purpose of scientific management is to organize the study of work, analyze it into its simplest elements, and improve the work systematically.

Organizing – Meaning, Importance, Process, Principles and Approaches | Principles of Management (POM)

July 8, 2022July 8, 2022 by Author

Organizing

Meaning of Organizing

Organizing refers to grouping elements of an organization in the most effective way. To accomplish an organization’s goals efficiently and effectively, all its resources must be integrated and coordinated to define the essential relationships between people, tasks, and activities.

Decision Making Process – 7 Steps of Decision Making Process | Management

June 17, 2022 by Author

Decision Making Process

To determine the best option or course of action to meet one’s needs, an individual goes through a series of steps in the decision-making process. The process of determining a business initiative’s planned path, setting specific actions into motion, and analyzing the results of those actions is the goal of business planning. Choosing from available choices the most feasible course of action is a rational process known as decision-making. Management must be responsible for making an effective decision and implementing it in a way that will ensure the organization’s prosperity. What the manager decides to do today will determine how the organization will evolve in the future.

Marketing Mix – Concept, Characteristics, Components and Importance | Principles of Marketing

June 16, 2022 by Author

Marketing Mix

What is Marketing Mix?

Marketing mix is the combination of tools, tactics, techniques, and actions it employs to accomplish a marketing goal in an organization. All actions that an organization can take to influence the market demand for its products and services are considered marketing. Throughout the marketing mix, all aspects of an organization are mixed, while promoting products and services, to generate sales and reach the organization’s goals. According to this, an organization should produce products that match customers’ tastes, wants and needs, and as these changes occur, the organization’s production and marketing methods should also change, which means that they require situational and superior approaches.

A typical marketing mix is composed of four elements: price, product, promotion, and place. However, nowadays the marketing mix encompasses several other Ps such as Packaging, Positioning, People, and even Politics.

Misrepresentation of Identity – Forms of Security Breach | Introduction to E-Business

July 8, 2022November 29, 2021 by Author

Misrepresentation of Identity

Businesses can install sophisticated software to verify the authenticity of the people they deal with. In spite of this, firms should remain vigilant so that their credibility is not undermined by security breaches. There is a wealth of information available on a wide range of subjects on the internet. Some of the information, however, may not be reliable. A firm must ensure that the information it uses is accurate and reliable. A failure to perform this can result in embarrassment, diminished reputation, a legal proceeding, or financial loss.

Public Key Infrastructure (PKI) – Introduction to E-Business | BBA Notes

July 8, 2022November 29, 2021 by Author

Public Key Infrastructure (PKI)

There is a compelling case for establishing a single standard protocol for the provision of secure systems rather than allowing competition. The Public Key Infrastructure (PKI) provides a generic approach to the issue of security. PKI is an e-commerce architecture which combines specialist authorities, digital certificate management systems, and directory facilities in order to build secure networks over unencrypted networks, such as the internet .

Secure Electronic Transactions (SET) – Introduction to E-Business | BBA Notes

July 8, 2022November 29, 2021 by Author

Secure Electronic Transactions (SET)

Customer fears of their credit card information being intercepted are one of the biggest obstacles to growth in e-business and e-commerce. The issue has been recognized as a threat to e-business for some time. The Secure Electronic Transaction (SET) protocol was developed jointly by Visa and Mastercard in 1996. By using cryptography, the SET protocol provides confidentiality of information, ensures payment integrity, and verifies the authenticity of the seller and cardholder. A trusted certification authority (CA) issues both the buyer and the seller with a digital certificate (or key). Several certificate authorities operate in the United Kingdom, including the Post Office (ViaCode) and BT (Trust Wise).

Encryption – Introduction to E Business | BBA Notes

July 8, 2022November 29, 2021 by Author

Encryption

The most common method of securing transmissions over the internet is encryption. Public key and secret key encryption are the two main methods of encryption. In secret-key encryption, the parties share an encrypted key number that is known only to them. Encrypting and decrypting a message use the same key. Using public-key encryption, the encrypted key numbers used by the sender and receiver are different.