This book “Fundamentals of Business Mathematics – Part I, for BBA” has been prepared in accordance with the Bachelor of Business Administration (BBA) Curriculum prescribed by the Faculty of Management, Tribhuvan University, Kirtipur.
The book has been written keeping in mind the following objectives:
• To create an interest for Mathematics in the management students
• To develop confidence in applying mathematics to real world situation particularly in economics and business.
These objectives are achieved in author's view by helping students learn the math by practicing their problem-solving skills and reinforcing their understanding in the context of actual problems they may encounter in their lives and their careers.
On cannot learn mathematics by simply 'reading' a mathematics book, page to page. A better approach is to read just one section at a time, then following the methods which are demonstrated in the Worked Examples line by line, do the exercise.
Learning to use mathematics could be compared to learning to drive. In either case, the quote from the Chinese philosopher Lao Tse is appropriate:
You read and you forget;
you see and you remember;
you do and you learn.
Mastering driving skills and gaining a sense of how to control the car only comes about by following closely the routines demonstrated by the instructor, then practising them over and over again, sometimes patiently, sometimes not!
To make the book effective from practical point of view, an attempt has been made to provide a thorough explanation of many mathematical terms for their proper use. The author has tried to make clear the intuitive meaning of what is taking place and diagrams are provided, whenever it seems feasible to help the reader develop skill in using his/her imagination to visualize new concepts, neglecting rigor and precision in logical reasoning.
The book is full of worked out examples presented in a very systematic way, sometimes they motivate the concept.
The success of any text book depends upon the strength of its problem sets. We have devoted an extraordinary amount of effort to organizing the problems for this text. The problems are graded and divided into groups arranging problems in each group to the level of difficulty as far as possible, in order that the student can have sufficient practice.
Considerable amount of graphing techniques have been included, because the authors are convinced that the only way to understand the nature and behaviour of functions is to have graphs of standard functions in mind.
The knowledge of spreadsheet program is a must for management students in my opinion. As Excel is probably the spreadsheet program most commonly used by economics and management experts, I have placed Microsoft® Excel Guides in short at the end of the first chapter.
Learning Excel is not difficult. However, no attempt is made to teach Excel, so beginners are advised to refer to introductory texts on the subject. The spreadsheet suggested solutions to certain problems are given in Excel format.