ANNAMALAI UNIVERSITY MBA FIRST YEAR ASSIGNMENT ANSWERS
ANNAMALAI UNIVERSITY MBA FIRST YEAR ASSIGNMENT 2019-20 ANSWERS
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1.1 PRINCIPLES OF MANAGEMENT
Q1. Management is said to have universal application. How do you justify the
Universality of Management? Give examples to illustrate your arguments.
ANSWER
Managing is necessary whenever one needs to get things done.
It may be called the practice of consciously and continually shaping organizations.
Every organization has people who are assigned the responsibility of serving the organization to achieve its goals.
Management is a universal phenomenon in the sense that it is a common and essential element in all enterprises. Every group effort requires setting objectives, making plans, handling people, co-coordinating and controlling activities, achieving goals and evaluating performance directed towards organizational goals.
Q2. “The importance of strategic planning is now fully realized by the Indian
corporate sector than before”- Discuss
ANSWER
Strategic planning means planning for making and implementing strategies to achieve organisational goals. It starts by asking oneself simple questions like : What are we doing, should we continue to do it or change our product line or the way of working, what is the impact of social, political, technological and other environmental factors on our operations, are we prepared to accept these changes etc.
1.2 MARKETING MANAGEMENT
- What is market segmentation? What are the different ways of segmentation?
Suggest the segmentation strategy for the following products: Edible oil, Table
top wet grinder and Business magazine.
ANSWER
Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics. The segments created are composed of consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs, or locations.
- What are the objectives of pricing strategies? Discuss the merits of different
pricing techniques that you would recommend for the following products.
Laptop, Sports utility vehicle, designer tiles.
ANSWER
Pricing can be defined as the process of determining an appropriate price for the product, or it is an act of setting price for the product. Pricing involves a number of decisions related to setting price of product. Pricing policies are aimed at achieving various objectives. Company has several objectives to be achieved by the sound pricing policies and strategies. Pricing decisions are based on the objectives to be achieved. Objectives are related to sales volume, profitability, market shares, or competition
1.3 FINANCIAL MANAGEMENT
- It is usual to declare good dividends when the company is making good
profit. It is profitable for companies not to declare any dividend even when
they are making good profits. What will be the reaction of the shareholders?
– Discuss.
ANSWER
Dividend refers to a reward, cash or otherwise, that a company gives to its shareholders. Dividends can be issued in various forms, such as cash payment, stocks or any other form. A company’s dividend is decided by its board of directors and it requires the shareholders’ approval. However, it is not obligatory for a company to pay dividend. Dividend is usually a part of the profit that the company shares with its shareholders.
- “In managing working capital the finance manager faces the problem of
compromising the conflicting goals of liquidity and profitability”. –
Comment. What strategy should the finance manager develop to solve this
problem?
ANSWER
Working capital management is a significant part of business decisions and is of major concern to the finance manager in as much as accomplishment of value maximisation goal depends essentially on prudent working capital decisions. Maintaining optimal level of working capital is crux of the problem with which a finance manager is seriously concerned because problem of trade-off between risk and return is involved.
1.4 DATABASE MANAGEMENT SYSTEM
Q2. Explain various levels of Data abstraction in database system?
ANSWER
Database systems comprise of complex data-structures. In order to make the system efficient in terms of retrieval of data, and reduce complexity in terms of usability of users, developers use abstraction i.e. hide irrelevant details from the users. This approach simplifies database design.
There are mainly 3 levels of data abstraction:
Q4. Construct an ER diagram for Bank transactions.
ANSWER
An ER diagram helps you visualize the information stored in a database. This bank ER diagram illustrates key information on bank customers, including entities such as banker, credit card, account and loans. It allows you to understand the relationships between entities.
An Entity–relationship model (ER model) describes the structure of a database with the help of a diagram, which is known as Entity Relationship Diagram (ER Diagram). An ER model is a design or blueprint of a database that can later be implemented as a database. The main components of E-R model are: entity set and relationship set.
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1.5 HUMAN RESOURCE MANAGEMENT
Q1. “Human resource planning is a pre-requisite for effective management of
human resources”. In the light of this statement, analyse the significance of
human resource planning.
ANSWER
Human resources undoubtedly play the most important part in the functioning of an organization. The term ‘resource’ or ‘human resource’ signifies potentials, abilities, capacities, and skills, which can be developed through continuous interaction in an organizational setting.
Q4. Performance Appraisal System helps employees to identify the areas in which
they need to improve – Do You agree or disagree? Justify with the suitable
methods.
ANSWER
Yes I agree with it
Successful businesses understand the value of investing in a robust performance appraisal system. That’s because they reap the benefits of employees who have regular and fruitful performance conversations with their line manager, understand their strengths and opportunities for improvement, and are more effective and motivated in their roles
1.6 MANAGEMENT INFORMATION SYSTEM
Q2. Explain a hierarchical database organisation. Give an example of data that has
a ‘natural’ Hierarchical order. What are the limitations of a network
organisation?
ANSWER
A hierarchical model represents the data in a tree-like structure in which there is a single parent for each record. To maintain order there is a sort field which keeps sibling nodes into a recorded manner. These types of models are designed basically for the early mainframe database management systems, like the Information Management System (IMS) by IBM.
Q4. Discuss the role of MIS in the fields of education.
ANSWER
Data is the lifeline of every educational institution. Right from the student turnover rate to the financial records, every piece of data that is/was ever associated with the college paves way for its development. The bigger the institution, the greater the volume of data, which makes it challenging to manage on paper or even with excel files.
1.7 SOFTWARE PROJECT MANAGEMENT
Q1. A public library is considering the implementation of a computer-based system
to help administer book loan at libraries. Identify the stakeholders in such a
project. What might be the objectives of such a project and how might the
success of the project be measured in practical terms?
ANSWER
Although computer systems have been employed since the 1970s in significant applications military, civil, government, finance, business and so on, unlike any other engineering discipline the success rate of ICT projects remains unacceptably low. Describe and discuss why ICT projects fail and what measures can be taken to improve the chance of success.
Q2. Assume that a company has decided on a COTS solution that will replace the
whole of the existing maintenance accounting system rather than simply
plugging in additional modules to deal with group accounts. Write a
memorandum to the company’s legal department outlining the important
provisions that a contract to supply this system should have.
ANSWER
MEMORANDUM
Dated 19th December 2019
As the name suggests this is software that is sold 'off the shelf.' The 'shelf' normally means the shelf of products in any store, accessible to anyone who walks into the store. Commercial off-the shelf software is therefore defined as the software that is commercially produced and sold in a retail store or online, ready to use without any form of modification by the user, accessible to everyone.
1.8 FINANCIAL AND MANAGEMENT ACCOUNTING
ANSWER
Q2. “Depreciation is a process of allocation and not of valuation.” – Comment.
In accounting, the term depreciation refers to the allocation of cost of a tangible asset to expense to the periods in which the asset is expected to be used to obtain the economic benefit. For example, a company purchases a piece of equipment for $20,000 and estimates that the equipment will be used for a period of 10 years. The cost of the equipment (i.e., $20,000) will be allocated to each of 10 years using some systematic and rational allocation method.
Q4. It is said, “cost accounting is a system of foresight and not post-mortem
examination; it turns losses into profit, speeds up activities and eliminates
wastes”. Discuss in detail this statement
ANSWER
Cost Accounting is a conscious and rational procedure by Accountants for accumulating costs and relating such costs to specific products or departments for effective management action.
Cost Accounting establishes budgets, standard costs and actual costs. Cost Accounting is a set of procedures used in refining raw data into usable information for management decision making, for ascertainment of cost of products and services and its profitability.
1.3 FINANCIAL MANAGEMENT
- It is usual to declare good dividends when the company is making good
profit. It is profitable for companies not to declare any dividend even when
they are making good profits. What will be the reaction of the shareholders?
– Discuss.
ANSWER
Dividend refers to a reward, cash or otherwise, that a company gives to its shareholders. Dividends can be issued in various forms, such as cash payment, stocks or any other form. A company’s dividend is decided by its board of directors and it requires the shareholders’ approval. However, it is not obligatory for a company to pay dividend. Dividend is usually a part of the profit that the company shares with its shareholders.
- “In managing working capital the finance manager faces the problem of
compromising the conflicting goals of liquidity and profitability”. –
Comment. What strategy should the finance manager develop to solve this
problem?
ANSWER
Working capital management is a significant part of business decisions and is of major concern to the finance manager in as much as accomplishment of value maximisation goal depends essentially on prudent working capital decisions. Maintaining optimal level of working capital is crux of the problem with which a finance manager is seriously concerned because problem of trade-off between risk and return is involved
1.4OPERATIONS MANAGEMENT
Q1. Elaborate the role of SAP software applications on supply chain management.
ANSWER
Supply chain management (SCM) is the management of a network of interconnected businesses involved in the provision of product and service packages required by the end customers in a supply chain. Supply chain management spans all movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption.
There are myriad reasons for improving your supply chain (see below) but it is widely acknowledged that a tighter integration between a principal wholesaler and its (global) distributors can only improve the overall success of an organisation which is reliant on excellent service to the consumer.
Q4. Describe the steps in ISO quality certification process by any Agency in India
ANSWER
ISO refers to International Organization for Standardisation. It is an independent organisation that provides standards in terms of quality, safety, and efficiency of products and services provided by businesses. With the increasing competition among the business, it is important to deliver high quality of goods & services in order to sustain in the market. ISO certification helps to improve your business credibility as well as overall efficiency of the business.
1.6 STATISTICS FOR MANAGERS
Q2. A Statistical survey is a scientific process of collection and analysis of
numerical data. Explain the stages of statistical survey. Describe the various
methods for collecting data in a statistical survey.
ANSWER
A statistical survey is any structured inquiry designed to obtain aggregated data, which may be qualitative or quantitative where the individual or corporate identities of the respondents are in themselves of little significance.
Statistical surveys in scope are not limited to those conducted by statistics divisions and do not necessarily involve completion of a form; telephone and personal interview surveys are also included.
Q4. A panel of two judges P and Q graded seven dramatic performance by
independently awarding marks as follows
Performance: 1 2 3 4 5 6 7
Marks by P: 46 42 44 40 43 41 45
Marks by Q 40 38 36 35 39 37 41
The eighth performance, for which judge Q could not attend, was awarded 37
marks by judge P. If judge Q has also been present, how many marks would be
expected to have been awarded by him to the eighth performance?
ANSWER
1.7 MANAGERIAL COMMUNICATION
Q2. Design an Agenda and Minutes of an annual general body meeting. (Assume your
own choice of company)
ANSWER
Minutes of Annual General Body Meeting held on 24-Nov-2019
Agenda
- Welcome Speech
- Summary of Activities
- Presenting and Passing the Balance Sheet
Q3. Explain the process of designing and developing oral presentation. Also, prepare a
five minutes presentation to address your managers on any matter of your choice.
ANSWER
Preparing a presentation can be an overwhelming experience if you allow it to be one. The strategies and steps below are provided to help you break down what you might view as a large job into smaller, more manageable tasks.
Step 1: Analyze your audience
The first step in preparing a presentation is to learn more about the audience to whom you'll be speaking. It's a good idea to obtain some information on the backgrounds, values, and interests of your audience so that you understand what the audience members might expect from your presentation.
1.8 ADVERTISING AND SALES PROMOTION
Q1. It is not imperative that consumers always go through the strides in the
'Hierarchy of effects model'. Defend.
ANSWER
The hierarchy of effects model is a model which tells advertisers to make an advertisement in such a way that the customer goes through all these six stages namely awareness, knowledge, liking, preference, conviction and purchase. It is created by Robert J Lavidge and Gary A Steiner in 1961, the hierarchy of effects model suggests six steps to consumer buying behaviour.
Q2. Do 'Persuasion advertising form’ benefit company if the competition increases –
Justify.
ANSWER
Advertising is a communication strategy designed to convince consumers to buy a company's products. Persuasive communication involves getting attention, generating interest, creating a desire for change and encouraging action. Advertising is important for driving revenue and profit growth. Small businesses can use persuasive advertising in one-on-one settings and through traditional media channels, including print, television and the Internet.
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