Core Concepts in Operations Management, Quality, and Behavioral Science

Posted by admin on Dec 4, 2025 in Business Administration and Management (BAM) | 0 comments

Behavioral Science and Decision Making

Behavioral Science is the study of why people act and make decisions the way they do.

Key Insight: If you understand the dynamics of decision making, you can influence that decision in your favor.

Rational Decision Making

1. Consider the options, then pick the one that maximizes profit or experience.
2. Assess pros and cons objectively without prejudice.

Irrational Decision Making

• Allows irrelevant biases, emotions, and environment to influence our decisions.

Predictably

Key Economic Theories of Education and Skill Development

Posted by admin on Dec 3, 2025 in Business Administration and Management (BAM) | 0 comments

Goldin: Education, Technology, and Inequality

The High School Movement initially yielded large returns to education, which decreased later as more people became educated.

The economic landscape is characterized as a “Race between Education and Technology”:

• Education represents the supply of skills.
• Technology represents the demand for skills.

If technological advancement outpaces educational attainment (Tech > Edu), inequality increases. The return to education is the equilibrium price determined

Corporate Finance Essentials for Financial Leaders

Posted by admin on Dec 2, 2025 in Business Administration and Management (BAM) | 0 comments

The Modern CFO: Role, Skills, and Responsibilities

The Chief Financial Officer (CFO) is responsible for managing a company’s financial health, ensuring compliance, overseeing financial planning, and optimizing capital allocation. Key responsibilities include financial strategy, risk management, investor relations, and corporate governance. Essential skills for a CFO include strategic thinking, leadership, data-driven decision-making, and technological proficiency.

The CFO’s Role in ESG Initiatives

CFOs

Business Production Methods, Technology, and Quality Control

Posted by admin on Dec 2, 2025 in Business Administration and Management (BAM) | 0 comments

Understanding Production and Productivity

Production is the provision of a product to satisfy wants and needs. The process involves businesses adding value to their products.

Productivity is the measure of outputs against the inputs used to create them. This is measured by the formula:

Output (over a given period of time) / Number of employees

If a worker makes more products in the same amount of time, their productivity increases. Firms aim to be productively efficient to make more profits and compete

Human Resources Management: Key Concepts Summary

Posted by admin on Dec 2, 2025 in Business Administration and Management (BAM) | 0 comments

Chapter 6: Consumer Behaviour

Strategic Management Fundamentals and Business Analysis Tools

Posted by admin on Dec 1, 2025 in Business Administration and Management (BAM) | 0 comments

Levels of Management Organization

1. Top-Level Management (Strategic Level)

   Also known as executive or upper management.

   Roles:

   • Set long-term goals and organizational strategy.
   • Make high-level decisions affecting the entire organization.
   • Represent the company to stakeholders, government, and the public.

   Common Titles:

   • Chief Executive Officer (CEO)
   • Chief Operating Officer (COO)
   • Chief Financial Officer (CFO)
   • President
   • Vice President

2. Middle-Level Management (Tactical Level)

   Often referred to as departmental or functional