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Explain the benefits which students in school of Business and Economics will acquire by taking the unit BBM 1101.

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Introduction to business will help the students with knowledge and the necessary skills to start and run a business comfortably. For example, at some point all students will encounter the world of business. Therefore, they must be prepared to engage in business activity with a lot of confidence and also competence by understanding how businesses operate and its role in the society.

It provides students with practical context of other subject’s e.g mathematics, science and technology as they are applied in the world of business. One will be able to help people with their needs and creating products and services that can help to improve the quality people’s life.

It helps to understand mutual dependencies through business systems as people become increasingly dependent on one another. E.g we depend on one another for a variety of goods and services.

Business environment continues to be dyanamic.As a student, it can be an important feature which can help to develop skills to cope up with ever-changing business world.

It helps an individual to appreciate the role of business in provision of goods and services. For example, it is through business that we get quality goods and services.

It helps students to understand the role of Government in business activities. The Government for example, regulates business and issue licenses for operating businesses.

Students will be able to understand the role of communication and information technology in modern business management. Most business are computerized hence they should have the knowledge in business systems.

Economics on the other hand helps students to:

It enable students to gain knowledge on market dynamics and how they apply to an organization. E.g whether resources are limited, the price of goods. E.t.c
One will be able to use the skills acquired to develop a viable business strategy e.g using SWOT analysis to assess situations and make economic decisions for your organization.

They will be able to understand their own spending habits and values hence enabling them to make good economic decisions.
It provides the basics and tools for analysis. E.g one will be able to measure consumer demand for a particular part of a product.

Students will be able to make decisions with scarce resources as Economics explains how people, businesses and Government can make decisions with limited resources.

Students will be able to make the world a better place by solving many social problems facing the world e.g poverty,inequality,unemployment.e.t.c

Kchris answered the question on November 14, 2018 at 14:19

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Explain the benefits which students in school of Business and Economics will acquire by taking the unit BBM 1101.

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