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Trust you read our day 1 Management concepts and we hope it helped you 🙂

This section aims to teach you 10 management concepts everyday in simplest way possible and today we present new management concepts that you need to know:

  1. BPO – Business Process Outsourcing – sub contracting a part of business
  2. Bank position – utilizable balance available in the bank
  3. Bonded rationality – thinking within given reasoning power and knowledge
  4. Book-keeping – maintaining books of accounts
  5. Book receivables – money receivable from debtors
  6. Borrowed funds– funds taken as a loan
  7. Budget – plan converted to figures and to money metrics so as to become measurable
  8. Business cycle – 1) cyclical trend observed of growth-stability and decline in any product cycle 2) cyclic changes in business expansion, stagnation, contraction etc.
  9. Business intelligence – competitive business knowledge
  10. Business plan – planning business and its behavior in terms of results.

Management gyan

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BMS.co.in is aimed at revolutionising Bachelors in Management Studies education, also known as BMS for students appearing for BMS exams across all states of India. We provide free study material, 100s of tutorials with worked examples, past papers, tips, tricks for BMS exams, we are creating a digital learning library.

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