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Business Communication
Answer the following question.
Q1. What does good business behavior includes
ANSWER
Good business behaviour includes
Respect:
As an entrepreneur building a business, you need to respect yourself and surround yourself with people you can respect. Remember, strong respect doesn't mean you can fly on auto-pilot. While you can assume your people will do their job as well as they can, they do need coaching, training and direction, but respect and trust make it easier for you to avoid micro-managing them.
Do not hire or do business with people you don't respect, or who don't respect you. These are the types of people who ultimately don't respect their colleagues, customers, vendors, or themselves. When existing relationships weaken, take action. Do your best to rebuild mutual respect, but it can no longer be rebuilt, let the person go.
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Q2. Explain in Short the 3 written documents related to meeting
ANSWER
Three written documents related to meeting are
Notice of a Meeting:
When a meeting is to be convened, a notice is required to be sent to all who are to attend it.
It should satisfy these conditions:
- It should be under proper authority
- It should state the name of the organisation
- It should state the day, date, time, and place. Also, sometimes, how to reach the place
- It should be well in advance. Some require seven days’ notice, some 48 hours’
- It should state the purpose and, if possible, the agenda
- It should carry the date of circulation and convener’s/secretary’s signature
Business Ethics
Answer the following question.
Q1. What is code of conduct for citizens.
ANSWER
A code of conduct is a set of rules outlining the social norms and religious rules and responsibilities of, or proper practices for, an individual, party or organization. Related concepts include ethical, honor, moral codes and religious laws.
- Patriotism: Our Motherland should be our first and highest consideration. Welfare of the nation is our own welfare. Therefore, let us willingly be ready to offer up even our own life for our country. Let us inculcate in our children and members of our family love for our country, the spirit of patriotism and service to our country and our fellow citizens.
- Duty: Our first and foremost duty is to God and to Righteousness. Leading a righteous life is the best and most valuable service of our Nation.
- Character: Character is the greatest wealth. A pure, incorruptible citizen is the greatest asset of our Nation. This is vital and indispensable. Therefore, good character is to be given top priority value; upon this depends our nation's welfare and its future stability.
Q2. Write a short note on environment.
ANSWER
“Business Environment encompasses the -climate’ or set of conditions, economic, social, political or institutional in which business operations are Conducted.
Business Environment refers to the “Sum total of conditions which surround man at a given point in space and time. In the past, the environment of man consisted of only the physical aspects of the planet Earth (air, water and land) and the biotic communities. But in due course of time and advancement of society, man extended his environment through his social, economic and political function.”
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Corporate Law
Answer the following question.
Q1. What are the liability of Members
ANSWER
An association is a formal organization of people who have joined for a common purpose. An association has no power to enter or ratify a contract in the absence of a statute that provides an unincorporated association with the power to contract or the power to sue and be sued. Therefore, a contract that is entered by officers or agents on behalf of an association is not binding. There are certain liabilities for the association and its members. Liability can mainly be civil, criminal, personal and tortuous in nature.
Q2. What are the duties and rights of a pledgor?
ANSWER
Rights and duties of a Pledgor
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- The pledgor has a right to claim back the security pledged on repayment of the debt with interest and other charges.
- The pledgor has a right to receive a reasonable notice in case the pledgee intends to sell the goods and in case he does not receive the notice he has a right to claim any damages that may result.
- In case of sale, the pledgor is entitled to receive from the pledgee any surplus that may remain with him after the debt is completely paid off.
Financial and Cost Accounting
Answer the following question.
Q1. Explain the role of Accountant in the present day Economy?
ANSWER
Most important role of accountancy are listed below.
- Appraisal of investments
An economy is not able to grow or develop without investments being made. Investment appraisal is a process of evaluation. Factors to be considered include financial, as well as non-financial aspects of a possible investments. Accountants are able to perform this evaluation with minimum expenditure on resources.
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Q2. A good costing system is an involvable aid to management.” Discuss.
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.
General Management
Answer the following question.
Q1. What are the components of MIS?
ANSWER
Components of MIS are:
- Internal records: The first component of MIS is ‘Internal Record’. Marketing managers get lots of information from the internal-records of the company. These records provide current information about sales, costs, inventories, cash flows and account receivable and payable. Many companies maintain their computerized internal records. Inside records help marketing managers to gain faster access to reliable information.
- Marketing intelligence:
- The second component of MIS is ‘Marketing Intelligence’. It collects information from external sources. It provides information about current marketing-environment and changing conditions in the market. This information can be easily gathered from external sources like; magazines, trade journals, commercial press, so on. This information cannot be collected from the Annual Reports of the Trade Association and Chambers of Commerce, Annual Report of Companies, etc. The salesmen’s report also contains information about market trends.
- Q2. Define budgetary control system. What are the prerequisites for effective budgetary system?Budgetary control refers to how well managers utilize budgets to monitor and control costs and operations in a given accounting period. In other words, budgetary control is a process for managers to set financial and performance goals with budgets, compare the actual results, and adjust performance, as it is needed.
Q3. Explain Herzberg’s model
ANSWER
Herzberg had close links with Maslow and believed in a two-factor theory of motivation. He argued that there were certain factors that a business could introduce that would directly motivate employees to work harder (motivators). However there were also factors that would de-motivate an employee if not present but would not in themselves actually motivate employees to work harder (hygiene factors)
International Business
Answer the following question.
Q1. Define international pricing.
ANSWER
Price may be defined as the exchange of goods or services in terms of money. Without price there is no marketing, in the society. To a manufacturer, price represents quantity of money (or goods and services in a barter trade) received by the firm or seller. To a customer, it represents sacrifice and hence his perception of the value of the product. Conceptually, it is:
Price = Quantity of money received by the seller/Quantity of goods and services rendered received by the buyer
Q2. What is International Business Risk ?
ANSWER
Just as there are reasons to get into global markets, and benefits from global markets, there are also risks involved in locating companies in certain countries. Each country may have its potentials; it also has its woes that are associated with doing business with major companies. Some of the rogue countries may have all the natural minerals but the risks involved in doing business in those countries exceed the benefits. Some of the risks in international business are:
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Marketing Management
Answer the following question.
Q1. What is Inventory Management?
ANSWER
Inventory management is the practice overseeing and controlling of the ordering, storage and use of components that a company uses in the production of the items it sells. Inventory management is also the practice of overseeing and controlling of quantities of finished products for sale. A business's inventory is one of its major assets and represents an investment that is tied up until the item sells.
Businesses incur costs to store, track and insure inventory. Inventories that are mismanaged can create significant financial problems for a business
Q2. Explain PortFolio Analysis.
ANSWER
Portfolio level analysis is an important part of managing a derivatives portfolio. The common types of portfolio analysis are Total Value, Aggregated Cash Flows, Risk Sensitivity, Stress testing, and Value-at-Risk.
Operations Management
Answer the following question.
Q1. What is the logic of Taguchi methods?
ANSWER
The use of fuzzy logic in the Taguchi method to optimise the submerged arc welding process with multiple performance characteristics is reported in this paper. An orthogonal array, the signal-to-noise ratio, multi response performance index, and analysis of variance are employed to study the performance characteristics in the submerged arc welding process. The process parameters, namely arc current, arc voltage, welding speed, electrode protrusion, and preheat temperature are optimised with considerations of the performance characteristics, including deposition rate and dilution. Experimental results are provided to confirm the effectiveness of this approach.
Q2. What is continuous improvement (CI)? What are the major tools for this philosophy?
ANSWER
Continuous improvement is an ongoing effort to improve products, services or processes. These efforts can seek “incremental” improvement over time or “breakthrough” improvement all at once.
Organization Behavior
Answer the following question.
Q1. Explain the uses of job analysis.
ANSWER
Job analysis refers to the process of collecting information about a job. In other words, it refers to the anatomy of the job. Job analysis is performed upon ongoing jobs only. It contains job contents. For example, what are the duties of a supervisor, grade II, what minimal knowledge, skills and abilities are necessary to be able to adequately perform this job? How do the requirements for a supervisor, grade II, compare with those for a supervisor, grade I?
Q2. Describe wolfang kohler.
answer
Wolfgang Köhler was a German psychologist and phenomenologist who, like Max Wertheimer and Kurt Koffkat contributed to the creation of Gestalt psycology.
Q3. What is the reality of politics?
ANSWER
It is very important to care about politics because you should know what is going on around you. Also, it is important to have a say in what is going on around you. The political decisions people make will affect many lives. Many people see politics as the government and the laws being made, and that is true, but it is way more complicated than that. Every law that is made will impact many. Sometimes the decisions will affect people in a bad way. Every vote that you make will either break people or make people.
One reason you should care about politics is because you should always know what is going on around you. For example, if a new law is made is made in your area, you might want to make sure that you and the people around you know that a new law has been made so that no one breaks the law without even knowing it. Also, if something dangerous is happening around you or someone you know, you want to be aware if someone is breaking the law. It is very important to know what is happening around you.
Personnel Management
Answer the following question.
Q1. How approaches differ as per the environment?
ANSWER
The best approach to environmental management is an integrated approach in which all the components of the environment are taken into consideration and its proper management, as a whole, is done.
The ecosystem concept has become a widely used conceptual tool for research after 1945. Nowadays, ecologists often adopt an ecosystem approach when seeking to understand and monitor a given situation. The ecosystem concept allows the environmental managers to look at portions of complex nature as an integrated system. It may be applied to cities or agriculture (urban ecosystems and agro-ecosystems respectively).
Q2. write a note on quality center?
ANSWER
Quality center is a web based tool that helps organizations to manage the application lifecycle right from project planning, requirements gathering, until Testing & deployment, which otherwise is a time-consuming task.
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Principles and Practice of Management
Answer the following question.
Q1. What is span of control? Identify the factors determining span of control
ANSWER
The concept of "span of control," also known as management ratio, refers to the number of subordinates controlled directly by a superior. It is a particularly important concept for small business owners to understand because small businesses often get into trouble when the founder ends up with too wide a span of control. Span of control is a topic taught in management schools and widely employed............................
Q2. What are the steps in planning? And explain.
ANSWER
Planning is the process of assessing an organization's goals and creating a realistic, detailed plan of action for meeting those goals. Much like writing a business plan, a management plan takes into consideration short- and long-term corporate strategies. The basic steps in the management planning process involve creating a road map that outlines each task the company must accomplish to meet its overall objectives
Total Safety Management
Answer the following question.
Q1. What is First Aid explain the legal requirement of first aid box under Factory Act, 1948.
ANSWER
(1) There shall in every factory be provided and maintained so as to be readily accessible during all working hours first-aid boxes or cupboards, equipped with the prescribed contents, and the number of such boxes or cupboards to be provided and maintained shall not be less than one for every one hundred and fifty workers ordinarily employed [at any one time] in the factory.
Q2. Explain in brief the sources of Stress at Work.
ANSWER
Stress is actually a normal part of life. At times, it serves a useful purpose. Stress can motivate you to get that promotion at work, or run the last mile of a marathon. But if you don't get a handle on your stress and it becomes long-term, it can seriously interfere with your job, family life, and health. More than half of Americans say they fight with friends and loved ones because of stress, and more than 70% say they experience real physical and emotional symptoms from it.
TRANSPORT MANAGEMENT
Answer the following question.
ANSWER
Q1. Write short note on Rail and Road Transportation
ANSWER
Rail transport is also known as train transport. It is a means of transport, on vehicles which run on tracks (rails or railroads). It is one of the most important, commonly used and very cost effective modes of commuting and goods carriage over long, as well as, short distances. Since this system runs on metal (usually steel) rails and wheels, it has an inherent benefit of lesser frictional resistance which helps attach more load in terms of wagons or carriages. This system is known as a train. Usually, trains are powered by an engine locomotive running on electricity or on diesel. Complex signaling systems are utilised if there are multiple route networks. Rail transport is also one of the fastest modes of land transport.
Q2. Write short note on Logistics
ANSWER
Logistics refer to the overall process of managing how resources are acquired, stored, and transported to their final destination. Logistics management involves identifying prospective distributors and suppliers and determining their effectiveness and accessibility. Logistics managers are referred to as logisticians.
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