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Nature and Scope of Business Economics

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Question: What do you mean by Business Economics? Also explain the nature and scope of business economics.
Answer
Business Economics, also called Managerial Economics, is the application of economic theory and methodology to business. Business involves decision-making; and business economics serves as a bridge between economic theory and decision-making in the context of business. Economic theories, economic principles, economic laws, economic equations, and economic concepts are used for decision making.
Definition of Business Economics According to Spencer and Seigelman, “Managerial Economics is the integration of economic theory with business practice for the purpose of facilitating decision making and forward planning by management.”
According to Douglas, “Managerial economics is concerned with the application of economic principles and methodologies to the decision making process within the firm or organization. It seeks to establish rules and principles to facilitate the attainmen…

International Marketing Management Notes

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The purpose of MBAInternational Marketing Management Subject is to develop an understanding of the underlying concepts, strategies and issues involve in the marketing of products and services in more than a nation or globally.
International Marketing Management contains eight modules namely - International Marketing Environment; Understanding Customer Buying Behaviour; International Marketing Research; International Product Management; International Marketing Communication;  Distribution and Logistics; Strategies of Pricing; and Evaluation and Control.
International Marketing Management Subject Modules: Module 1: Introduction to International Marketing EnvironmentMeaning and Definition of International MarketingInternational Marketing EnvironmentImportance of International MarketingNature and Scope of International MarketingDifference Between International Marketing and Domestic MarketingProcess of International MarketingIdentifying and Analyzing International OpportunitiesChanges in…

Marketing Management Notes

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The purpose of MBA Marketing Management Subject is to develop an understanding of the underlying concepts, strategies and issues involved in the marketing of products and services. 


Marketing Management contains five modules namely Marketing Concepts and Challenges; Marketing Planning and Control; Marketing Mix, Understanding Customer and Marketing Information System; and Marketing Strategies. It explores the following topics in detail; Social Marketing, Marketing Mix, Customer Value, Competitor Analysis, Consumer Behaviour, Demand Forecasting, Market Segmentation, Targeting and Positioning.

Module I: Marketing Concepts & ChallengesNature and scope of Marketing Management,
Definition and Meaning of Marketing,
Nature and Scope of Marketing,
Marketing Process,
Marketing Environment,
Marketing Organisations,
Marketing Challenges,
Concept of Green Marketing,
Concept of Social Marketing,
Concept of Alliance Marketing,Marketing Mix.

Module II: Marketing Planning & ControlMarketing Planning…

Human Resource Management

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The objective of MBA Human Resource Management Subject is to provide fundamental understanding of Human Resource Management value chain. The subject aims at helping students understand, appreciate and analyze workforce at managerial and non- managerial levels. The Subject also intends to ensure that they develop sound knowledge and critical awareness of issues of theoretical and practical relevance.
This course requires an ability to analyze and understand the concepts and a keen eye for observing how Human Resource Management policies and practises affect organizational working.
Human Resource Management contains five Modules - Linking strategy and HRM in an organizational context, Human Resources in the context of organization’s intrinsic systems, Organizational Performance and HRM, Enhancing HR effectiveness through Training and Development, and Relating Industrial relations With HR.


Module 1: Linking strategy and HRM in an organizational context This Module deals with Changing busi…

Advertising Management Notes

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The aim of MBA Advertising Management Subject is to acquaint the students with concepts, and techniques; and to give experience in the application of concepts for developing an effective advertising program. 
MBA Advertising management is a four module subject, the first module deals with the general introduction of advertising and its importance, it will also discus the functions in the organization and the main duties of advertising manager. The second module is about Advertising strategies, it will explore the communication mix, creation of advertising program. The third module is about advertising media, it deals with different classification of different media, its planning, scheduling, selection and evaluation. The last module is the management of advertisement , it deals with advertising budget , control and administration, it also covers the social responsibility in advertising.
Module I: Introduction to AdvertisingIntroduction to Advertisement
Definition and Objectives of Adv…

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