Sunday, 6 October 2019

Subject : Quantitative Methods


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INDIAN SCHOOL OF BUSINESS MANAGEMENT AND ADMINISTRATION
 

AN ISO 9001:2015 CERTIFIED INTERNATIONAL B-SCHOOL
 

Name :                                                                                                                     Marks : 80
Course :Masters in Business Administration (MBA 4 Sem)
Subject : Quantitative Methods
 


Case Studies

Linear Programming                                                                                    (20 Marks)

Lexicographic Goal Programming is used to solve a series of Linear Programming Model. This programming is used wen . a goal has to be attained on•priority basis. Revenue budgeting is being used to decide budget instead of a specific system in budget. Nevertheless, revenue budget lays emphasis on the rising limitation of revenue while estimating budget. The decision makers are limited due to the rising power of capital and also the awareness of imminent restraints and fear of capital resources. The goal is to raise the salary and allowance of the workers,to cut down the operating cost, to raise the revenue expenses, to raise the capital generated internally, and the cut down the overall budget. Some of the problems are: insufficient allocation of funds and income, and• absence of importance of order. The insufficient allotment occurred as the quantitative allotment models were not used with power. . It is seen that the allotment of capital were not being used in the right" way as a result the capital allotted to the labs is drawn •in the maintenance of hostel. Various other changes also happen. In fact, the funds allotted to the tertiary organizations are more often not managed properly. The University of Owerri suffered and the progress of the institution came down. There is absence of active teams for monitoring budget, and so the budget can function in any manner. If the active teams to monitor budget were present, the problem of mismanagement and the wrong use of it would come down. Sundaram (1978) and Lee (1972) agreed that the various features of target programming are, that it allows ordinal solution. According to Igniio (1978), this tactic called Goal Programming, frequently symbolizes considerable progress in the modeling and evaluation of the multi objective problems. This shows that this area lets the systematic evaluation of a number of multi objective problems which could include linear or non linear operations in the incessant or separate variables. This is most successful in the research area. The goal programming developed due to Charnes and Cooper, who suggested that the model and method for dealing with some linear programming problems where the contradictory 'goals of management' involed as limitations. Goal programming method has been used for a number of programs. Goal programming technique has solved the following problems: planning production in a ship repairing company, smoothing production in 'just in time' production atmosphere. The problem occurs when the model does not show the real inclination of the decision maker. Non-inferior solution in some cases many not be essentially better than the lesser solution mainly in the case of natural resource problem.


Answer the following question.

Q1. What are the problems while estimating the budget?

(Hint: insufficient allocation of funds and income, and absence of importance of order, The insufficient allotment occurred as the quantitative allotment models were not used with power)

Answer : There are a number of serious problems associated with budgeting, which include gamesmanship, excessive time required to create budgets, and budgeting inaccuracy. In more detail, the problems with budgeting include:

Ø Inaccuracy. A budget is based on a set of assumptions that are generally not too far distant from the operating conditions under which it was formulated. If the business environment changes to any significant degree, the company’s revenues or cost structure may change so radically that actual results will rapidly


Case Study

    A monte Carlo                                                                                            (20 Marks)

Laura,' a 57 year old unmarried woman, earns around 68,000 dollars per year with expenditure of 37,500 dollars. She hit away 14,000 dollars each year and collected 330,000 dollars in her RRSP and TFSA, and also a rented apartment worth 250,000 dollars. She has a iixed pension given by her employer, although it is not indicated to price rise, and Is entitled to get complete benefits of Canada Pension Plan and Old Age Security, for retirement. She did not have a very competent portfolio: one fourth of cash is there, and most of it was in contracted sector ETFs, single stocks and business bonds. Due to wrong entry of ETFs in the account, unnecessary taxes were charged. Even before reconstructing Laura's portfolio,"he had to make certain that it matched with.her financial aims. Laura's main aim was to ascertain if she could retire before the age of 65, maybe as early as 60, therefore she had to know if her investments could produce enough flow of cash after she retires. Monte Carlo may show a top possibility of success with the allotment of equity of 70% ot 80%. Through a risky questionnaire and art open interview, Justin Ill 'ascertain that Laura was the best person for a portfolio of 60% fixed income and 40% equities. . Through Monte Carlo software, Justin entered the current portfolio . size of Laura, her rate of savings, projected retirement expenditure, and other employer income and government pensions. If Laura feels that working till the age of 63 was unpleasant, she could go for the reproduction again and with different estimation.
10/1/2019 Aeren Foundation
Increasing her anticipated returns or bringing down the rate of inflation, is only a thought, therefore, she will have to make some stronger decisions: she will have to making some more savings, or bring down her rate of planned expenses after retirement. Amazingly, by bringing up the allotment to fixed salary could increase her opportunity to succeed: in spite of th returns being lower than the equities, the volatility is also less, which lessens the risk of helpless decline in the early years. At last, Laura decided to work for 6 more years and plan her retirement at the age of 63. After this, Justin decided to help her make a fresh ETF portfolio to match that goal: it was finalized at 30% short term business bonds, 30% GICs, and the rest of it was divided among Canadian, L'S and global equities. Laura was able to make a notified decision through the Monte Carlo simulation, but this wasn't the end of the procedure. In two or three years time, she will have to visit the location again to see that she is still on the right path of her retirement goal, as many issues like, loss of job, a legacy, new connections, increase in the interest rates, all these could bring a change in the main suppusitions 1 ; and she will have to redo her plans. The possibilities are different before the age of 63. For each added year that Laura works, her portfolio will addition instead of a decrease and this will lead to a thrilling difference: the success rate will rise up by 25% points if she continues to work till the age of 61 instead of 60.

Answer the following question.

Q1. How much was Laura earning at the age of 57?

(Hint: 68,000 dollars per year)
Answer :






A Network Rail                                                                                             (20 Marks)

The railways play an important role in the economy and infrastructure of Britain. Not very many people travelled back jn the 1920 as compared to present time, in spite of 50% reduction in raif routes as compared to the 1960s. Rail is also used for transporting goods around Britain. Rail proves to be• more eco-friendly and safest means of transportation as compa;ed to other vehicles so, not surprisingly, the number of people commuting have gone 40% more since the past ten years. By 2034, this figure can go up. The work of network rail has to look after the tracks, bridges and tunnels which comprises of the British rail network. The railway infrastructure is made up of signals and level crossings. It has to look after the 20,000 mile long track and 40,000 bridges and tunnels. Britain's 18 main rail stations, from Edinburg Waverley to London King's Cross, are looked after by the Britain rail system. Ten years ago, when the network rail took up these responsibilities, • it had to face some challenges. The rail neork was facing some problems. Trains were running late, the costs were too high and there was shortage of assets in both the people and machinery. Due to these issues, people had less confidence in the rail network. Ever since then, rail network has aimed at sustaining operations to reduce the expenses. There has been 28% reduction in expenses mainly because of conomy of scale. New tracks and machinery have been bought, and there has been 90% rise in the rail punctuality. Huge projects have been given on time an towards th budget, as a result the confidence of the people has improved. Rail network has moved from 'find and fix' to 'predict and prevent' policy. This has proved to be more cost effective and competent and enabled in avoiding delay or obstruction for the people in their travel. The rail network invested approx. 12 billion pounds between 2009 and 2014, towards the rail network. Britain has the fastest developing network in whole of Europe. By investing in people, the rail network is investing in the future to. .B ritain has the largest working personnel of 35,000 workers. It has people working in various positions, like, engineers for maintenance and signaling to project managers. Each area offers an opportunity to work. They also consist oi HR (human resources), IT (information technology), and finance and customer service. Network Rail needs to employ and keep capable engineers in order to get the work done. Presently, its engineers are doing some oi the most stimulating projects in Europe. The projects include HS2, which is the new super spted rail link between the north and south Britain, and the project of London Crossrail. Some oi the biggest and busiest rail stations are being upgraded, like, London King's Cross and Birmingham New Street. The main focus of the HR of Network Rail is to recruit various personnel. This not only deepens the culture of business but it also makes sure that it can reach every talent. It offers training for every applicant, whether he is a school drop-out or a graduate, whether male or female, a continued flow of appropriate talent is ensured to keep its long term project going. The company abo gives many opportunities to its workers to receive recognized qualifications, such as an exclusive programme in post graduation, sponsoring the Master's Degree in project management and trainee.

Answer the following question.

Q1. What were the initial problems that Network Rail of Britain face?

(Hint: It has to look after the 20,000 mile long track and 40,000 bridges and tunnels. Trains were running late, the costs were too high and there was shortage of assets in both the people and machinery) Q2. What is the new super speed rail link between the north and south Britain called? (Hint: HS2)

Answer : What is Network Rail?

Network Rail (NR) was set up in 2002 to replace Railtrack as the body responsible for Britain's rail network. It holds a monopoly over Britain's rail infrastructure, a major national asset, and as such is rigorously monitored to ensure accountability to the public interest. Its network operating licence was originally issued to Railtrack on March 31st 1994.

As a result NR is limited by guarantee, which means it operates as a private company without a profit-making function. Instead of shareholders, members drawn from the rail industry and the general public hold the board to account by reviewing its performance against pre-set targets. The Department for Transport (DfT) is also a member, providing it with substantial subsidies each year.

Network Rail is the owner (via its






CASE STUDY                                                                                                  (20 Marks)

The price P per unit at which a company can sell all that it produces is given by the function P(x) = 300 — 4x. The cost function is c(x) = 500 + 28x where x is the number of units produced. Find x so that the profit is maximum.

Answer the following question.

Q1. Find the value of x.
Answer :



Q2. In using regression analysis for making predictions what are the assumptions involved.
Answer : Building a linear regression model is only half of the work. In order to actually be usable in practice, the model should conform to the assumptions of linear regression.

Assumption 1
The regression model is linear in parameters
An example of model equation that is linear in parameters
Y = a + (β1*X1) + (β2*X22)


Q3. What is a simple linear regression model?
Answer : Linear regression models are used to show or predict the relationship between two variables or factors. The factor that is being predicted (the factor that the equation solves for) is called the dependent variable. The factors that are used to predict the value of the dependent variable are called the independent variables.
Good data does not always tell the complete story. Regression analysis is commonly used in research as it establishes that a correlation exists between variables. But correlation is not the same as causation. Even a line in a simple linear regression that fits the data points well may not say something definitive about a cause-and-effect relationship.
In simple linear regression, each observation consists of two values. One value is for the dependent variable and one value is for the independent variable.
  • Simple Linear Regression Analysis The



Q4. What is a scatter diagram method?
Answer : The scatter diagram is known by many names, such as scatter plot, scatter graph, and correlation chart. This diagram is drawn with two variables, usually the first variable is independent and the second variable is dependent on the first variable.

scatter-diagram
The scatter diagram is used to find the correlation between these two variables. This diagram helps you determine how closely the two variables are related. After determining the correlation between the variables, you can then predict the behavior of the dependent variable based on the measure of the independent variable. This chart is very useful when one variable is easy to measure and the other is not.
Example


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Human Resource Management


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INDIAN SCHOOL OF BUSINESS MANAGEMENT AND ADMINISTRATION
 

AN ISO 9001:2015 CERTIFIED INTERNATIONAL B-SCHOOL
 

Name :                                                                                                                       Marks : 80
Course :Masters in Business Administration (MBA 4 Sem)
Subject : Human Resource Management
 


Answer the following question.

Q1. What are the internal sources of recruitment?
Answer : 1. Present Employees:
Promotions and transfers from among the present employees can be a good source of recruitment. Promotion implies upgrading of an employee to a higher position carrying higher status, pay and responsibilities. Promotion from among the present employees is advanta­geous because the employees promoted are well acquainted with the organisational culture, they get motivated, and it is cheaper also.
Promotion from among present employees also reduces the require­ment for job training. However, the disadvantage lies in limiting the choice to

Q2. Explain the model of strategic HRM? What are the strategic challenges HRM facing?
Answer : Human Resources models help to explain the role of HR in the business. In this article, we will go over the 5 most practical HR models. These models enable us to explain what HR’s role is, how HR adds value to the business, and how the business influences HR.
1.       The Standard Causal Model of HRM
2.       The 8-box model by Paul Boselie
3.       The HR value chain
4.       The HR Value Chain Advanced
5.       The Harvard Framework for HR

1. The Standard Causal Model of HRM

The best-known HR model is the Standard


Q3. What are the various approaches to Employee discipline?

Answer : Different Approaches towards Discipline in a Management are as follows:

Judicial Approach

Under this approach, the nature of offence in a particular situation is determined by carefully weighing the evidence and taking all the steps prescribed for disciplinary procedure.

Management
Image Courtesy : nynah911.files.wordpress.com/2012/


Q4. what are the main objectives of Collective Bargaining?

Answer : Collective bargaining is a process of negotiating between management and workers represented by their representatives for determining mutually agreed terms and conditions of work which protect the interest of both workers and the management. According to Dale Yoder’, “Collective bargaining is essentially a process in which employees act as a group in seeking to shape conditions and relation­ships in their employment”.

Michael J. Jucious has defined collective bargaining



Q5. Discuss the factors influences on Compensation?

Answer : Everything you need to know about the factors affecting employee compensation. Compensation is a very important issue in Human Resource Management (HRM) and affects the relations between management and workers.

Compensation is also one of the biggest reasons of dispute between employers and employees. Employees provide their services to the business; they


Q6. Explain the selection process?

Answer : The selection process can be defined as the process of selection and shortlisting of the right candidates with the necessary qualifications and skill set to fill the vacancies in an organisation. The selection process varies from industry to industry, company to company and even amongst departments of the same company.
\
Q7. Give the various techniques of forecasting demand of Human resources?

Answer : Managerial judgement : This technique is very simple. In this managers sit together, discuses and arrive at a figure which would be the future demand for labour. The technique may involve a “bottom-up” or a “top-down” approach. In the first, line managers submit their department proposals to top managers who arrive at the company forecasts. These forecasts are reviewed with departmental heads and agreed upon.


Q8. Discuss the evolution of HRM?
Answer : Everything you need to learn about the evolution of HRM (human resource management.) Evolution of HRM over the period of time is important for understanding the philosophy, functions, and practices of HRM that are followed in different situations so that relevant HRM practices are evolved in the present situation.

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Essential of Management


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INDIAN SCHOOL OF BUSINESS MANAGEMENT AND ADMINISTRATION
 

AN ISO 9001:2015 CERTIFIED INTERNATIONAL B-SCHOOL
 

Name :                                                                                                                         Marks : 80
Course :Masters in Business Administration (MBA 4 Sem)
Subject : Essential of Management
 


Answer the following question.

Q1. Name the factors deterring departmentation. Also mention the bases of departmentation and give examples.
Answer : Factor # 1. Work and Process:
Departments should be created on the basis of work performed in the organisation and the processes involved in carrying out that work. If the work is simple, functional structure can be the basis of departmentation. However, if the work involves a number of processes, process departments is the suitable form of departmentation.

Factor # 2. Specialisation:


Q2. Discuss objectives of co-ordination.
Answer : Objectives of Co-Ordination:
The important objectives of co-ordination are as following:

1.       Harmony of Goals:
There is always a danger of conflicts of goals in the minds of the managers and workers because the perceptions vary from man to man. Therefore, the most important objective of co-ordination is to create harmony of objectives in the minds of the employees.
2. Total Accomplishment:
The other main objective of the co-ordination is to achieve total accomplishment rather than individual effort. It has been proved beyond doubt that total accomplishment is always much more than the sum of the individual efforts. Two plus two can be five or one + one can be eleven when applied to human resources of an


Q3. Give suggestions for making committee organization more effective.
Answer : A committee can be one of the most productive tools that an association has for goal achievement. But committees are also indispensable to the work of an association, enabling work to get done in the most efficient manner. But committees can also be incredible time sucks, eating up countless hours while not accomplishing much. According to Bain and Company, “At their best, committees are an efficient way of assembling people. They facilitate debate on important issues, and the can be effective forums for decision making. So the challenge is to manage committeees well; to get the most out of them while


Q4. Discuss steps of planning.

Answer : Planning is the first primary function of management that precedes all other functions. The planning function involves the decision of what to do and how it is to be done? So managers focus a lot of their attention on planning and the planning process
Planning Process
The planning function of management is one of the

Q5. Explain modern organizational theory (An appraisal)
Answer : The Modern Organisation Theory is of recent origin having developed in sixties and flourished in seventies. The source of inspiration for modern theory is the Systems Analysis. The modern theory has an analytical base, it relies on empirical research and above all has, integrating nature. It is highly constructive. The theory views the organisation as a system and studies it in its totality as a complex system of human interrelationships. The theory gives answers of many complex questions ignored by classical or neo-classical theorists.


Q6. Describe on the part of the subordinate difficulty in weakness of delegation.
Answer : Although delegation appears to be a simple process, yet in practice, many difficulties come in the way of effective delegation. These difficulties may be grouped into three categories which are discussed below:

A. On the part of the superior:

Managerial failure in delegation may be on account of the following factors:

(i) Feeling of perfectionism:

Some managers think that they can do the job better and for this reason, do not delegate authority. “I can do it better myself” fallacy hinders delegation of


Q7. Explain process of delegation

Answer : Delegation is a management practice that involves disbursement of duties and responsibilities among subordinates to ease down the work pressure at the top.
Delegation is effective when handled methodically, following all the steps involved in the process. The process of delegation is best understood, when explained in the form of a flowchart. So before reading further about how the delegation process works, it’s advisable that the readers download the sample delegation flowchart from the above given link and use it for reference.
Steps Involved in a Delegation Flowchart
  1. The process of delegation begins with


Q8. What is management? & its three distinct aspects.
Answer : Management refers to both an art and a science of attaining goals via people. Management involves supervising i.e. looking over what other people do and ensuring that they do what they should be doing. In a deeper sense, management can also refer to the process of creating and keeping an environment in which people work and achieve the stipulated goals. So basically, managers need to be very agile in their tactics of handling people with the changing business world. (Gomez, 26)

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Subject : Business Communication


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INDIAN SCHOOL OF BUSINESS MANAGEMENT AND ADMINISTRATION
 

AN ISO 9001:2015 CERTIFIED INTERNATIONAL B-SCHOOL
 

Name :                                                                                                                       Marks : 80
Course :Masters in Business Administration (MBA 4 Sem)
Subject : Business Communication
 


Answer the following question.

Q1. Write Short notes on Hand Shake (10 marks)

Answer : A good handshake not only makes you look more professional, but it could influence an important business decision, such as whether you strike a big deal or get a new job. The proper grip and hand position are essential to good handshake etiquette, but so is the rest of the body. Do not forget global etiquette--other cultures may add something like a kiss on the cheek or have a different way of shaking.
Function
Business etiquette refers to the practice of observing social norms designed to show courtesy to other people in a professional setting. Handshakes are a standard greeting, and create one of the first impressions you make on a stranger.


Q2. What is the time honored conventions for conducting Interviews? (10 marks)

Answer : The personal interview is your chance to really get to know your prospective employees. You’ll be delving deeper into the skills and requirements you’ve noted on the resumé and phone screening. Mostly, the interview allows you to get a sense of the intangibles, such as passion, initiative, goals, cultural fit, attitudes, and communication skills.

The world of job search has changed dramatically over the years. It’s rare to find your next position in a newspaper wanted ad, and social media is an indispensable tool for both identifying opportunities and establishing credibility with




Q3. Explain the process of Conduct of meeting (10 marks)
Answer : Communicating in a meeting is an essential part of effective communication. Some meetings are not conducted in an efficient manner due to which they fail in accomplishing the sole objective of the meeting. It may be because:
  • They do not involve participation of all, or
  • They may be too long, or
  • They may be unsystematic, or
  • They may lack a clear agenda, or
  • They may not begin on the planned



Q4. State some Strategies to overcome Stage fear (10 marks)

Answer : Even the most confident performers can suffer from stage fright. Stage fright is common for everyone from Broadway actors to professional presenters. If you have stage fright, then you may start to feel nervous, shaky, or even completely debilitated at the thought of performing in front of an audience. But don't worry -- you can overcome your stage fright by training your body and mind to relax and trying a few tricks. If you want to know how to overcome stage fright, just follow these steps. Before you read, make sure that you know it helps if you have somebody perform with you. Or it also helps if you have a lot of your close friends in the audience.





Q5. Why do listening barriers succeed? (10 marks)

Answer : 1.We receive no formal training in listening

Sure, we have a lifetime of listening to draw upon as a learning experience, but there are no formal training classes for listening. At school, we learn how to read and write and even speak, but listening is a skill we are just expected to pick up.
Consider that we take reading in one form or another as a class in elementary, middle and high schools, either called Basic Language or English Composition. We learn to write in the beginning of our elementary school career and then have writing throughout middle and high school and even college.




Q6. Write notes on Listeners Related Barriers (10 marks)

Answer : There are many things that get in the way of listening and you should be aware of these barriers, many of which are bad habits, in order to become a more effective listener.  Barriers and bad habits to effective listening can include:

Trying to listen to more than one conversation at a time, this includes having the television or radio on while attempting to listen to somebody talk; being on the phone to one person and talking to another person in the same room and also being distracted by some dominant noise in the immediate environment.





Q7. List the measures to overcome Communication barriers. (10 marks)

Answer : Measures to overcome the barriers to effective communication are: 1. Clarify the Ideas before Communication 2. Communicate According to the Need of Receiver 3. Consult others before Communicating 4. Be aware of Language, Tone and Content of Message 5. Convey Things of Help and Value to Listeners 6. Ensure Proper Feedback 7. Communicate for Present as well as Future 8. Follow up Communications 9. Be a Good Listener!





Q8. Explain two way process of Communication with diagrammatical representation (10 marks)
Answer : Two-way communication occurs when the receiver sends response or feedback to sender’s message. In two-way communication process, the sender first transmits the message to the receiver. After receiving a message, the receiver decodes it and then sends back his or her reaction to the sender.

In two-way communication, information flows in two-ways: information form sender to receiver and response from receiver to sender. So it is regarded as the complete communication process.
Two-way communication may occur


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