IIBM MBA EXAM 2020 ANSWER SHEETS
Business Communication
Section A: Objective Type & Short Questions (30 marks)
Part one:
Multiple choice:
I.The most important goal of business communication is_________. (1)
a) favorable relationship between sender and receiver
b) organizational goodwill
c) receiver response
d) receiver understanding
Ans: d) receiver understanding
II. Down ward communication flows from_________ to_________. (1)
e) Upper to lower
f) Lower to upper
g) Horizontal
h) Diagonal
Ans: e) Upper to lower
III. Horizontal communication takes place
between_________. (1)
a. superior to subordinate
b. subordinate to superior
c. employees with same status
d. none of these
Ans: c. employees with same status
IV. The study of communication through touch is_________. (1)
a. chronemics
b. haptics
c. proxemics
d. Semantic
Ans: b. Haptics
V._____________ channel of communication is known as grapevine (1)
a. Formal
b. Informal
c. Horizontal
d. Vertical
Ans: b. Informal
VI. The following is (are) the most effective ways of communication.
a.
Verbal b.
Non verbal c. Written d. All of the above
Ans c. Written
VII. The handshake that conveys confidence is (1)
a. Limp
b. Firm
c. Loose
d. Double
Ans: b. firm
VIII. ________ of the letter consists of main message. (1)
a. Heading
b. Body
c. Greeting
d. Closing
Ans: b. body
IX. Body of a letter is divided into ________
parts. (1)
a. 1
b. 2
c. 3
d. 4
Ans: c. 3
X. A persuasive message will fail if_____ (1)
a. it does not focus on what is in it for the reader
b. it only lists facts
c. it moves too slowly
d. all of the above
Ans: d. all of the above
Part Two:
1. Brief Grapevine communication? (5)
Grapevine is an
unofficial communication within the organisation, where the information is
passed through word of mouth at informal gatherings, for example, during
lunchtime, at tea breaks, or even at water-coolers. It is basically an office gossip,
which one comes to know through friends and acquaintances in a confidential
way. Generally gossip is considered to be damaging and is also unwelcome, but
office gossip is something that can be used for personal benefits and gains.
Grapevine can be
tactfully used by the employee for his professional growth. It can be
used as an effective agent for job search. Many a times, people get to know
about openings in different companies through such unofficial lunchtime
discussions. It is also helpful for those who are looking for a change as well
as promotion within an organisation. People interacting from different
departments can pass on useful information about possible openings in a
department within an organisation, which otherwise is difficult to get.
Those looking for
promotion can assess their capabilities based on these discussions that
generally take place on personal and sometimes official matters, and
preparedness of others competing for the same position. This platform can also
be used by bosses, who are trying to make some judgment about their
subordinates, and can get to know through trusted sources the information they
would find difficult to get otherwise, but which may help in the employee’s
assessment.
Office grapevine can be
used to promote a personal agenda by employees. To climb the ladder of success,
individuals must make everyone around them aware of their abilities. People
around him should know what he is capable of apart from his assigned job. It
can be used effectively if one is trying to make a move in terms of nature of
job by passing on information about his strengths, potentials and achievements,
which is likely to be captured through some complicated route by those who are
responsible for making appropriate decisions in such cases.
Sometimes through office
grapevine some useful inside information may be passed on that can be used to
one’s advantage. However, it should be kept in mind that people should not
over-react to information they get unofficially from such sources. They should
appropriately react only after ascertaining the truth behind such information.
For example, if one hears that he may be laid off because of the closure of a
department or some policy change in the organisation, spontaneous action to
this should be avoided. It is definitely a useful information for the employee
and can help him adjust to the shock that would otherwise come if the same
information were announced to him one fine morning by the management.
But, instead of getting
panicky and getting ready to look for a change straightaway, this information
can be shared with one’s bosses and if some element of truth is found, one can
negotiate his position through alternative means, either by a transfer of
department or some other possible solutions.
Grapevine discussions
sometimes revolve around the behaviour of a new person joining the
organisation. It is always a good option to know in detail about any new person
in the organisation, especially with whom or under whom one is likely to work.
This can help in dealing appropriately with the person. If one is acquainted
with the likes and dislikes, principles, style of working of the new person
with whom he is going to work, then a good working relation can develop among
them. It may also be a helpful tool for a manager or a leader who is going to
head a new group. Information regarding the team members, as to whether they
are happy with the change of guard or not, what type of relationship they
shared with the previous boss etc, can be of great help, as he can plan an
appropriate staff management strategy and
decide how to get the best out of them, based on such information.
Human
Resource Management
I.
The
following is (are) concerned with developing a pool of candidates in line with
the human resources plan
a)
Development
b)
Training
c)
Recruitment
d) All of
the above
Ans: d)
All of the above
II. The
following is (are) the key components of a business process Re-engineering
program? (1)
a) Product
development
b) Service
delivery
c)
Customer satisfaction
d) All of
the above
Ans: d)
All of the above
III. The
actual achievements compared with the objectives of the job is
a)
Job performance
b)
Job evaluation
c)
Job description
d) None of
the above
Ans:
a) Job performance
IV.
Performance development plan is set for the employee by his immediate
boss.
a)
Employer
b)
Department Head
c)
Immediate boss
d) Any of
the above
Ans: d)
Any of the above
V. The
following type of recruitment process is said to be a costly affair.
a)
Internal recruitment
b)
External recruitment
c) Cost
remains same for both types
Ans: b)
External recruitment
VI. The
following is (are) the objective(s) of inspection.
a)
Quality product
b)
Defect free products
c)
Customer satisfaction
d) All of
the above
Ans: d)
All of the above
VII.
Which of the following is an assumption of rationality to rationale decision
making?
a.
Preferences are clear
b.
Final choice will maximize payoff
c.
The problem is clear and unambiguous
d. All of
the above
Ans: d.
All of the above
VIII. ___________
is accepting solutions that are "good enough".
a.
Bounded rationality
b.
Satisficing
c.
Escalation of commitment
d. None of
the above
Ans:
b. Satisficing
IX. The three important
components in aligning business strategy with HR practice:
a) Business Strategy, Human Resource Practices,
Organizational Capabilities
b) Marketing Strategy, Human Resource Practices,
Organizational Capabilities
c) Business Strategy, Human
Resource Practices, Organizational structure
d) Marketing Strategy, Human
Resource Practices, Organizational structure
Ans: a) Business Strategy, Human Resource Practices,
Organizational Capabilities
X. The basic managerial
skill(s) is(are)
a) To supervise
b) To stimulate
c) To motivate
d) All of the above
Ans: d) All of the above
Part
Two:
1. What
is the nature of Human Resource Management?
Nature of Human
Resource Management are:
1. A part of Management
Discipline:
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.
2. Universal Existence:
HRM
is pervasive in nature. It is present in all enterprises. It permeates all
levels of management in an organisation.
3. Concerned with People:
HRM
is all about people at work, both as individuals and groups. It tries to put
people on assigned job in order to produce goods results. The resultant gains
are used to reward people and motivate them towards further improvement is
productivity.
4. Action oriented:
HRM
focuses attention on action, rather than on record keeping, written procedures
or rules. The problems of employees are solved through rational policies.
5. Directed towards
Achievement of Objectives:
HRM
is directed towards achievement of organisational objectives by providing tools
and techniques of managing people in the organisation effectively.
6. Integrating Mechanism:
HRM
tries to build and maintain cordial relation between people working at
different levels in the organisation. It tries to integrate human assets in the
best possible manner for achieving organisational goals.
7. Development Oriented:
HRM
intends to develop the full potential of employees. The reward structure is
turned to the needs of employees. Training is provided to improve the skill of
employees. Every attempt is made to use their talents fully in the service of
organisational goals.
8. Continuous Process:
HRM
is not a one short deal. It cannot be practised only one hour each day or one
day a week. It requires constant alertness and awareness of human relations and
their importance in every day operations.
9. Comprehensive Function:
HRM
is concerned with managing people at work. It covers all types of people at all
levels in the organisation. It applies to workers, supervisors, officers,
manager and other types of personnel.
2. What
is Human Resource Development (HRD)
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 been developed in
recent years to perform the above task based on certain principles. This unit
provides an understanding of the concept of HRD system, related mechanisms and
the changing boundaries of HRD.
The focus of all aspects of Human Resource
Development is on developing the most superior workforce so that the
organization and individual employees can accomplish their work goals in
service to customers.
Human Resource Development can be formal such as in classroom training, a college course, or an organizational planned change effort. Or, Human Resource Development can be informal as in employee coaching by a manager. Healthy organizations believe in Human Resource Development and cover all of these bases.
Human resource development in the organisation
context is a process by which the employees of an organisation are helped, in a
continuous and planned way to:
- Acquire
or sharpen capabilities required to perform various functions associated
with their present or expected future roles;
- Develop
their general capabilities as individuals and discover and exploit their
own inner potentials for their own and/or organisational development
purposes; and
- Develop
an organisational culture in which supervisor-subordinate relationships,
teamwork and collaboration among sub-units are strong and contribute to
the professional well being, motivation and pride of employees.
This definition of HRD is limited
to the organisational context. In the context of a state or nation it would
differ.
HRD is a process, not merely a set of mechanisms and techniques. The mechanisms and techniques such as performance appraisal, counselling, training, and organization development interventions are used to initiate, facilitate, and promote this process in a continuous way. Because the process has no limit, the mechanisms may need to be examined periodically to see whether they are promoting or hindering the process. Organisations can facilitate this process of development by planning for it, by allocating organisational resources for the purpose, and by exemplifying an HRD philosophy that values human beings and promotes their development.
3. Discuss the
future trends and challenges of HRM?
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. The emotional health of employees
is more important than ever before and this may be continual challenge for HR
managers. The days of staying at one company are over, mobility is the new
norm. And with that, employees progressively make job choices based on family
considerations and a desire to have a life outside of work. The challenges of
managing talent, improving leadership development, and managing work-life
balance are considered to be major future challenges for human resource
department.
Another key challenge for future
is anticipating Change. It includes managing demographics, managing change and
cultural transformation, and managing globalization.
Other future challenge for human
resource managers in global companies is enabling the Organization. This
category consists of becoming a learning organization and transforming HR into
a strategic partner.
Presently, human resource
managers use social media websites, such as Facebook and LinkedIn, to recruit
best suited candidates for different department of organization to enhance
productivity and gain monetary benefit. It is a big challenge for
professionals. HR will need to use social media for the organization's benefit
in an extremely competitive job market for both candidates and hiring
companies. HR professionals need to be prepared to hire suitable candidates before
the competitor, and this could mean beginning the discussion even before the
candidate applies. Social media participants often set their profile settings
to private, so human resource staff need to develop thorough knowledge of the
social media tools and online search engines to uncover the information they
need.
Globalization is continued to be
major challenge for human resource staff to retain good position in
marketplace. The Internet has opened up the job market, extending the talent
pool to almost every corner of the world. Today, HR professionals hire
candidates from various countries who speak different languages and practice
customs that may be dissimilar to those of the company's local employees. This
brings about changes to usual HR policies as the staff must address to concerns
such as cultural and ethnic sensitivity. Human resource team must be attentive
to wage disparities between local employees and their counterparts in other
countries.
Political and legal environment of nations are
highly volatile therefore changes in political parties and rules regulations
create new laws and HR professionals have to follow all laws while doing
business. It is the duty of human resource and industrial relations executives
to
Management Information Systems
Section A: Objective Type & Short Questions (30 marks)
Part one:
Multiple choice:
I.A person machine-system and a highly integrated grouping of information-processing functions designed to provide management with a comprehensive picture of specific operation is called (1)
a) DSSB
b) MISC
c) IISD
d) All
the above
Ans: b)
MISC
II. Which one of the following is not an important characteristic of useful and effective information? (1)
a) Accuracy
b) Timelines
c) Completeness
d) Economy
Ans: d) Economy
III. The most important reason for failure of MIS is (1)
a) Use of improper tools for design
b) Noninvolvement of end-user
c) Improper specification
d) None of the above
Ans: b)
Non involvement of end-user
IV. Top level Managers use (1)
a) Strategic information
b) Tactical information
c) Operational information
d) None of these
Ans: a)
Strategic information
V.System is an important factor of MIS. There are various types of systems. Which one of the following is not a system? (1)
a) Physical system
b) Integrated system
c) Open system
d) Open system
Ans: b)
Integrated system
VI. Which one of the following is not an approach for development of MIS? (1)
a)
Hierarchical approach
b)
Integrative approach
c) Modular approach
d)
Elective approach
Ans: b) Integrative approach
VII. Management is linked to information by (1)
a. Decisions
b. Data
c. Both [A] And [B]
d. None Of The Above
Ans: c.
Both [A] And [B]
VIII. Which pattern reflects a pure executive form of management?
(1)
a. Functional
b. Line
c. Line and Staff
d. Committee
Ans: a.
Functional
IX. The term financial engineering is related to (1)
a) Cost of production
b) Financial restructuring
c) Product planning
d) Capital issue
Ans: b)
Financial restructuring
X. The goal of financial management is to (1)
a) Maximize the wealth of preference share holders
b) Maximize the wealth of debenture holders
c) Maximize the wealth of equity share holders
d) All of the above
Ans: d)
All of the above
Part Two:
1. What is purpose of information system from a business perspective? (5)
Using feedback completes the information-processing loop.
To be a good Information Systems manager, however, you must bring into that
loop far more than just the computer data. For instance, your information
system reports that you produced 100,000 widgets last week with a “throwback”
rate of 10%. The feedback loop tells you that the throwback rate has fallen 2%
in the last month. By putting that information into a broader context you
will establish that it will cost the organization a huge sum of money because
each percentage point on the throwback rate averages $10,000. And when you
bring in available external environmental information, your company is 5% above
the industry norm. Now that’s information you can use to your advantage.
If you, as a manager, can then take other information
from the internal and external environments to come up with a solution to this
problem, you can consider yourself “information literate.”
Porter’s value chain is a framework for thinking
strategically about the activities involved in any business and assessing their
relative cost and role in differentiation. Value can be created by
differentiation along every step of the value chain, through activities
resulting in products and services that lower buyers’ costs or raise buyers’
performance. The sources of value creation come from policy choices, linkages,
timing, location, sharing of activities among business units, integration,
learning and institutional factors.
Value chain is the viewing of a business
firm as a series of basic activities that add value to the firm’s products or
services. The concept of the value chain can be used to identify
opportunities to use strategic impact systems. The value chain views the firm
as a chain of basic activities that add value to a firm’s products or services.
These activities can be categorized as either primary activities or support
activities.
Primary activities include inbound logistics, operations,
outbound logistics, sales and marketing, and service.
The service activity involves maintenance and repair of
the firm’s goods and services. Support activities make the delivery of the
primary activities possible and consist of administration and management, human
resources, technology, and procurement.
An information system could provide strategic impact if
it helped the firm perform its value activities at a lower cost than
competitors or if it provided the firm’s customer with added value or service.
2. What are Enterprise System? How do they benefit businesses? (5)
Earlier, in large organizations,
different information systems were used to serve different business functions
like sales, marketing, production, manufacturing, etc., separately. The
business processes in each business function were disparate and not capable of
sharing information with each other. It was difficult for the managers to
assemble the data fragmented into separate systems in order to present an
overall picture of the organization’s operations and take firm-wide decisions.
At the time a customer places an
order, for example, the sales personnel might not be able to tell him whether
the desired items are in inventory or are to be produced. To overcome such
difficulties, in recent years, many organizations have opted to replace the
several distinct information systems with a single integrated system that can
support the business activities for different business functions. Such systems
are called enterprise systems.
An enterprise system, also known as
enterprise resource planning (ERP) system, is a cross- functional information
system that provides organization-wide coordination and integration of the key
business processes and helps in planning the resources of an organization. With
the help of enterprise resource planning systems, information can flow
seamlessly across the firm. Also, different business processes from sales,
production, manufacturing, logistics, and human resources,can be integrated
into organization-wide business processes.
An ERP system is driven by the ERP
software suite-a set of integrated software modules–and a common centralized
database. The software modules support the basic business processes under
different functional areas, and the database stores data from and feeds the
data to various applications supporting the internal business activities.
Marketing Management
Section A: Objective Type & Short Questions
Part one:
Multiple choice:
I.“Image building” objectives
are common in _____ type of market structure.
a)
Competition
b)
Oligopoly
c)
Monopoly
d) Monopsony
Ans: b) Oligopoly
II. The concept of marketing
mix was developed by______
a) N.H Borden
b) Philip Katter
c) Satanton
d) W.Anderson
Ans: a) N.H Borden
III. Marketing mix consists of
___
a)
Production recognition
b)
Price structure
c)
Distribution planning
d) All of these
Ans: d) All of these
IV. The concept of marketing
mix involves a deliberate and careful choice of organization, product, price
promotion, place strategies and___
a)
Policies
b)
Concept
c)
Planning
d) All of these
Ans: d) All of these
V. Operating cost for new
system is added into implementation cost and is then divided by gains by
improvements in productivity is called
a)
Economic Value Added
b)
Analysis Of Benefits
c)
Return On Investment
d) Return On Public Offering
Ans: c) Return On Investment
VI. Pricing strategy used to
set prices of products that are must be used with main product is called
a)
Optional Product Pricing
b)
Product Line Pricing
c)
Competitive Pricing
d) Captive Product Pricing
Ans: d) Captive Product Pricing
VII. New product pricing
strategy through which companies set lower prices to gain large market share is
classified as
a.
Optional Product Pricing
b.
Skimming Pricing
c.
Penetration Pricing
d. Captive Product Pricing
Ans:
c. Penetration Pricing
VIII. Company marketing mix
that target market segments very broadly is called (1)
a.
Mass Marketing
b.
Segmented Marketing
c.
Niche Marketing
d. Micromarketing
IX. What does the term PLC
stands for?
a)
Product life cycle
b)
Production life cycle
c)
Product long cycle
d) Production long cycle
Ans:
a) Product life cycle
X. Which of the following is
not a characteristic of “Market Introduction Stage” in PLC?
a)
Demands has to be created
b)
Costs are low
c)
Makes no money at this stage
d)
Slow sales volume to start
e) There is little or no
competition
Ans:
b) Costs are low
Part Two:
1.
Name and define the four Ps of the marketing mix?
The use of
a marketing mix is an excellent way to help ensure that ‘putting the right
product in the right place,…’ will happen. The marketing mix is a crucial tool to help understand what the product or service can offer and
how to plan for a successful product offering. The marketing mix is most
commonly executed through the 4 P’s of marketing: Price, Product, Promotion,
and Place.
These
have been extensively added to and expanded through additional P’s and even a
4C concept. But the 4Ps serve as a great place to start planning for the
product or even to evaluate an existing product offering.
THE FOUR P’S
Product
The product is either a tangible good or an intangible
service that is seem to meet a specific customer need or demand. All products
follow a logical product life cycle and it is vital for marketers to
understand and plan for the various stages and their unique challenges. It is
key to understand those problems that the product is attempting to solve. The
benefits offered by the product and all its features need to be understood and
the unique selling proposition of the product need to be studied. In addition,
the potential buyers of the product need to be identified and understood.
Price
Price
covers the actual amount the end user is expected to pay for a product.
How a product is priced will directly affect how it sells. This is linked to
what the perceived value of the product is to the customer rather than an
objective costing of the product on offer. If a product is priced higher or
lower than its perceived value, then it will not sell. This is why it is
imperative to understand how a customer sees what you are selling. If there is
a positive customer value, than a product may be successfully priced higher
than its objective monetary value. Conversely, if a product has little value in
the eyes of the consumer, then it may need to be underpriced to sell. Price may
also be affected by distribution plans, value chain costs and markups and how
competitors price a rival product.
Promotion
The
marketing communication strategies and techniques all fall under the
promotion heading. These may include advertising, sales promotions, special
offers and public relations. Whatever the channel used, it is necessary for it
to be suitable for the product, the price and the end user it is being marketed
to. It is important to differentiate between marketing and promotion. Promotion
is just the communication aspect of the entire marketing function.
Place
Place or
placement has to do with how the product will be provided to the customer.
Distribution is a key element of placement. The placement strategy will help
assess what channel is the most suited to a product. How a product is accessed
by the end user also needs to compliment the rest of the product strategy.
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