Saturday 18 January 2020

IIBM MBA EXAM ANSWER SHEETS

IIBM MBA EXAM ANSWER SHEETS
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Financial Management

  1. Investment is the…

  1. a) Net additions made to the nation’s capital stocks
  2. b) Person’s commitment to buy a flat or house
  3. c) Employment of funds on assets to earn returns
  4. d) Employment of funds on goods and services that are used in production process

Ans: c) Employment of funds on assets to earn returns



  1. Financial Management is mainly concerned with...
  2. a) All aspects of acquiring and utilizing financial resources for firms activities
  3. b) Arrangement of funds
  4. c) Efficient Management of every business
  5. d) Profit maximization
Ans: a) All aspects of acquiring and utilizing financial resources for firms activities


III. The Primary goal of the financial management is….. 

  1. To maximize the return
  2. To minimize the risk
  3. To maximize the wealth of owners
  4. To maximize profit

Ans: c. To maximize the wealth of owners

Part Two:

  1. What Is The Financial Management Reform?
Answer
Financial management reform is an essential part of the development process. Sound PFM supports aggregate control, prioritization, accountability and efficiency in the management of public resources and delivery of services, which are critical to the achievement of public policy objectives, including achievement of the Millennium Development Goals (MDGs). In addition, sound public financial management systems are fundamental to the appropriate use and effectiveness of donor assistance since aid is increasingly provided through modalities that rely on well-functioning systems for budget development, execution and control.

  1. Why Was The FMR Introduced?

 Answer
The framework has been introduced following public concern over Government's in efficiencies and wastage as reflected in numerous Auditor-General Reports as well as reports by international agencies on public expenditure practices in Fiji.

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CASELET

Caselet 1

Your employer, a mid-sized human resources management company, is considering expansion into related fields, including the acquisition of Temp Force Company, an employment agency that supplies word processor operators and computer programmers to businesses with temporary heavy workloads. Your employer is also considering the purchase of a bigger staff & McDonald (B&M), a privately held company owned by two friends, each with 5 million shares of stock. B&M currently has free cash flow of $24 million, which is expected to grow at a constant rate of 5%. B&M’s financial statements report marketable securities of $100 million, debt of $200 million, and preferred stock of $50 million. B&M’s weighted average cost of capital (WACC) is 11%. Answer the following questions

Questions

  1. Describe briefly the legal rights and privileges of common stockholders.
ANSWER
The common stockholders are the real owners of the company, and as such they have certain rights and privileges. These rights and privileges of common stockholders are established by the term of  the charter and laws of the state in which the company is registered. Common stockholders have some specific rights as individual owners. Some important rights are as follows:

Caselet 2

Casino is a large electrical construction company having a turnover of Rs.100 crores per annum. Since a few years the company has not been doing well in terms of profits. In order to find out the reason, a group of independent auditors were deployed to examine the operations of the company. The item they felt that needed closer attention was the budget control of new construction work. The audit showed that most electrical designs for new construction were carried out at the headquarters of the company by a project manager. In preparing a budget for a new project, he checked the expenses for similar jobs in the past, then simply multiplied them by various factors. The auditors found that during the past two years, most budgets were greatly overestimated. Incidentally, it was about two years ago that the project manager was given the primary responsibility for budgeting. In this role, he would submit his budget to the Expenditure Control Committee, consisting of higher-level managers who had only a limited interest in budgeting. It was to this committee that the project manager submitted requests for additional money whenever needed. Most of the requests were approved.
The chief auditor felt that the project team tended to "expand" the time needed to complete the task whenever the members thought the budget made it possible. In other words, they "adjusted" their productivity to match the money allocated to the project.
The auditors noted that other contractors could do similar jobs for 20% less money. They concluded that a new control procedure was needed.

Questions
ANSWER
  1. What do you think of the budgeting process?


Budgeting is a process whereby future income and expenditure are decided in order to streamline the expenditure process. Budgeting is done in order to keep track of the expenditures and income. It serves as a monitoring and controlling method in order to manage the finances of a business. It begins by deciding upon the financial goals according to which the budget will be made. Other important activities in the budgeting process include things such as forecasting, monitoring, controlling and evaluating the financial goals.

Section C: Applied Theory


  1. Differentiate Between the Financial Management and Financial Accounting?
ANSWER

  1. Explain Briefly The Limitations of Financial Ratios?

Some of the limitations of financial ratios are as follows:
Financial statement analysis through ratios is useful because they highlight relationships between items in the financial statements. However, they have a number of limitations which should be kept in mind while preparing or using them.
(1) Ratios are based on accounting figures given in the financial statements. However, ac­counting figures are themselves subject to deficiencies, approximations, diversity in practice or even manipulation to some extent. Therefore, ratios are not very helpful in drawing reliable conclusions.

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Human Resource Management



  1. The following is (are) concerned with developing a pool of candidates in line with the human resources plan

  1. a) Development
  2. b) Training
  3. c) Recruitment
  4. d) All of the above

Ans: d) All of the above



  1. The following is (are) the key components of a business process Re-engineering program? (1)
  2. a) Product development
  3. b) Service delivery
  4. c) Customer satisfaction
  5. d) All of the above

Ans: d) All of the above



III. The actual achievements compared with the objectives of the job is 

  1. a) Job performance
  2. b) Job evaluation
  3. c) Job description
  4. d) None of the above

Ans: a) Job performance


Part Two:

  1. What is the nature of Human Resource Management?
Nature of Human Resource Management are:
  1. A part of Management Discipline:
ANSWER
HRM is a part of management discipline. It is not a discipline in itself but is only a field of study. HRM, being a part of management process, draws heavily from management concepts, principles and techniques and apply these in the management of human resources.




  1. What is Human Resource Development (HRD)
 ANSWER
Development of human resources is essential for any organisation that would like to be dynamic and growth-oriented. Unlike other resources, human resources have rather unlimited potential capabilities. The potential can be used only by creating a climate that can continuously identify, bring to surface, nurture and use the capabilities of people. Human Resrouce Development (HRD) system aims at creating such a climate. A number of HRD techniques have
  1. Discuss the future trends and challenges of HRM?
 ANSWER
Multinational companies are operating in tough competitive environment and human resource managers are continually facing business challenges because of the development of Internet-enabled technologies and the eruption of the global economy. It is assumed that companies will face many serious human resource issues. Human resource has major challenge in future to develop and retain capable employees. HR professionals have probable challenges in managing workforce such as talent and leadership are becoming even scarcer resources than earlier organizational environment, the work force, on average, is growing older. More companies are becoming world-wide organizations as they try to recruit overseas, incorporate diverse cultures and retain external talent.

  1. What is manpower planning?
 ANSWER
Manpower Planning which is also called as Human Resource Planning consists of putting right number of people, right kind of people at the right place, right time, doing the right things for which they are suited for the achievement of goals of the organization. Human Resource Planning has got an important place in the arena of industrialization. Human Resource Planning has to be a systems approach and is carried out in a set procedure. The procedure is as follows:

CASELET

CASE STUDY 1

Sanjay Nagpal is a new recruit from a reputed management institute. He is recruited as a 
sales trainee in a sales office of a large computer hardware firm located in Chennai.
Raghvan is the zonal sales manager responsible for overseeing the work of sales officer, field 
executives and trainee salesmen numbering over 50 of three areas namely Chennai, 
Bangalore, and Trivandrum.
The sales growth of the products in his area was highly satisfactory owing to the 
developmental initiatives taken by respective State Governments in spreading computer 
education.
Raghvan had collected several sales reports, catalogues and pamphlets detailing the types of 
office equipment sold by the company for Sanjay’s reference.
 After short chat with Sanjay, Raghvan assisted him to his assigned desk and provided 
 him with the material collected. Thereafter Raghvan excused himself and did not return. 
 Meanwhile, Sanjay scanned through the material given to him till 5:00pmbefore leaving 
 office.

Questions

  1. What do you think about Raghavan’s training program? (10)

 ANSWER
Mr. Raghavan has to give Mr. Sanjay an induction training program. The way of Mr. Raghavan’s approach of training is totally wrong.

CASE STUDY 2

Preeti was promoted three months ago from reservations supervisor to front-desk manager for 
Regency Hotel, an independent, 330-room hostelry. She enjoys her new management 
responsibilities and is pleased that the occupancy rate averaged 94 percent last month, way 
above the industry average. But at times she feels stressed by the confusion of managing all 
front-end operations of the hotel, from reservations and cashiering to the bell desk and 
concierge. She feels most at home handling the reservation function, a task she always enjoyed 
as a trainee because she likes to help people. About once a week the staff in the reservation 
function overbooks rooms, usually because of incomplete scans of conference sales files. 
Customers with reservations w,0110 arrive late are upset when they have to be referred 1, 
nearby hotels. Whenever overbooking occurs, Ms. eti takes over direct control of the 
reservations operation herself, often personally handling reservations for two or three days 
until order seems to return. 
But sometimes while Ms. Preeti is off focusing on the reservations task, other problems arise. 
On five days last month, clerks at the reception desk checked in every "walk-in" who appeared 
without reservations. They assumed there would be ample no-shows among those holding 
reservations. On one occasion, Regency ended up oversold by 24 rooms. Mr. Alex, the hotel 
general manager, is concerned about Ms. Preeti's development into her new management 
position. He knows Ms. Preeti is proud of the high occupancy levels (which mean greater 
profits) and doesn't want to destroy that pride. However, he sees her as more interested in individual staff tasks (such as making reservations) than in the complexities of managing, 
training, and motivating her staff. He has talked with Ms. Preeti about balancing her activities 
as a manager. Alex emphasized that she needs to make sure her staff knows the systems and 
guidelines and be firm with employees who continue to check in guests when the hotel 
obviously will be overbooked. He plans to meet with her in a three-month performance review 
to see if he can shift her motivational expectations about the job. 




Question: 
 ANSWER
  1. Do Ms. Preeti's problems seem to be the result of her lack of motivational immaturity or of her lack of motivational attention to her people? 

Yes. It will lead to lack of motivational immaturity for Ms. Preeti.

A drop in staff motivation can become contagious if the cause is not identified and addressed. Management needs to be conscious of employee motivation, and that means being able to identify the factors that cause a lack of motivation in the workplace. Become familiar with the factors that can degrade staff motivation and design plans to combat these productivity killers.

Section C: Applied Theory

  1. What are the future challenges before managers?
ANSWER
Future Challenges before Managers

Because of continuous changing socio-economic, technological and political conditions, the human resource managers of the future shall have to face more problems in the management of labour. The human resource managers of today may find themselves obsolete in the future due to changes in environment if they do not update themselves some of the important challenges which might be faced by the managers in the management of people in business and industry are discussed below :

  1. What is the process of HRP?
ANSWER
The Human Resource Planning is a process of forecasting the organization’s demand for and supply of manpower needs in the near future.

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Managerial Economics



I.Demand is determined by
(1)
  1. a) Price of the product
  2. b) Relative prices of other goods
  3. c) Tastes and habits
  4. d) All of the above

Ans : d) All of the above


  1. When a firm’s average revenue is equal to its average cost, it gets
  2. a) Super profit
  3. b) Normal profit
  4. c) Sub normal profit
  5. d) None of the above
Ans: b) Normal profit



III. Managerial economics generally refers to the integration of economic theory with business
(1)
  1. a) Ethics
  2. b) Management
  3. c) Practice
  4. d) All of the above
Ans: c) Practice

Part Two:

  1. What is Managerial Economics? What is its relevance to Engineers/Managers?
 answer

“Managerial economics is concerned with the application of economic concepts and economic analysis to the problems of formulating rational managerial decisions.
Spencer and Siegelman have defined the subject as “the integration of economic theory with business practice for the purpose of facilitating decision making and forward planning by management.”

  1. “Managerial Economics is economics that is applied in decision making” Explain?
 ANSWER
Business decisions made by the managers are very important for the success and failure of a firm. Complexity in the business world continuously grows making the role of a manager or a decision maker of an organisation more challenging! The impact of goods production, marketing, and technological changes highly contribute to the complexity of the business environment.

  1. Factors Affecting Price Elasticity of Demand?
 ANSWER
Factors affecting price elasticity of demand
  1. The number of close substitutes – the more close substitutes there are in the market, the more elastic is demand because consumers find it easy to switch. E.g. Air travel and train travel are weak substitutes for inter-continental flights but closer substitutes for journeys of around 200-400km e.g. between major cities in a large country.
Caselet1
Questions


Questions

  1. What is the objective of Dabur? Is it profit maximisation or growth maximisation? Discuss.
 ANSWER
Objectives are:
  • Focus on growing core brands across categories, reaching out to new geographies, within and outside India, and improve operational efficiencies by leveraging technology.
  • Be the preferred company to meet the health and personal grooming needs of target consumers with safe, efficacious, natural solutions by synthesising deep knowledge of ayurveda and herbs with modern science.
  1. Do you think the growth of Dabur from a small pharmacy to a large multinational company is an indicator of the advantages of joint stock company against proprietorship form? Elaborate.
ANSWER
Yes I think the growth of Dabur from a small pharmacy to a large multinational company is an indicator of the following advantages of joint stock company.
(1) Huge resources:
A company can raise large amount of resources from the genera public by issuing shares. Since, there is no maximum limit of the number of shareholders ii case of public company, fresh shares can be issued to meet the financial requirement. Capita can also be obtained by issuing debentures and accepting public deposits.

Caselet2
Questions:

  1. What type of controls would you have established to preclude the major returns experienced by Regina?
 ANSWER
Type of controls I would established to preclude the major returns experience by Regina are:

  1. How would you have controlled the finished-goods -inventory to avoid its growing to twice the size that it was in the previous year.
ANSWER
I have controlled the finished goods inventory in the following ways

  1. Prioritize your inventory.
Categorizing your inventory into priority groups can help you understand which you need to order more of and more frequently, and which are important to your business but may be costly and move more slowly. Experts typically suggest segregating your inventory into A, B and C groups. Items in the A group are higher-ticket items that you need fewer of. Items in the C category are lower-cost items whose inventory turns over quickly. The B group is what's left – those items that are moderately priced and move out the door more slowly than C items but more quickly than A items.

Section C


  1. What is the importance of demand analysis in business decision?
 ANSWER
The demand analysis and the demand theory are of crucial importance to the business enterprises. They are the source of many useful insights for business decision making. The success of failure of business firms depend primarily on its ability to generate resources by satisfying the demand of consumers. The firms unable to attract consumers are soon forced out from the market. The importance of demand analysis in business decisions can be explained under following headings:

  1. Explain individual demand function and market demand function.
 ANSWER
Individual demand function refers to the functional relationship between individual demand and the factors affecting individual demand. It is expressed as: Dx = f (Px, Pr, Y, T, F) Where,
Dx = Demand for Commodity x; Px = Price of the given Commodity x;
Pr = Prices of Related Goods; Y = Income of the Consumer;
T = Tastes and Preferences; F = Expectation of Change in Price in future.

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