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 Examination Paper of Managerial Economics

IIBM Institute of Business Management

IIBM Institute of Business Management

Subject Code-B106

Examination Paper

Managerial Economics

MM.100

Section A: Objective Type & Short Questions (30 marks)

Part one:

Multiple choice:

I.Demand is determined by

(1)

a) Price of the product

b) Relative prices of other goods

c) Tastes and habits

d) All of the above

II. When a firm’s average revenue is equal to its average cost, it gets (1)

a) Super profit

b) Normal profit

c) Sub normal profit

d) None of the above

III. Managerial economics generally refers to the integration of economic theory with business

(1)

a) Ethics

b) Management

c) Practice

d) All of the above

IV. Which of the following was not immediate cause of 1991 economic crisis (1)

a) Rapid growth of population

b) Severe inflation

c) Expanding Fiscal deficit

d) Rising current account deficit

V.Money functions refers to : (1)

a) Store of value

b) Medium of Exchange

c) Standard of deferred payments

d) All of the above VI. Given the price, if the cost of production increases because of higher price of raw materials, the supply (1) a) Decreases b) Increases c) Remains same d) Any of the above

 This section consists of multiple choices and Short Notes type questions.

 Answer all the questions.

 Part one questions carry 1 mark each & Part two questions carry 5 marks each.

Examination Paper of Managerial Economics

IIBM Institute of Business Management

VII. Total Utility is maximum when (1)

a. Marginal Utility is maximum

b. Marginal Utility is Zero

c. Both of the above

d. None Of The Above

VIII. Cardinal approach is related to (1)

a. Equimarginal Curve

b. Law of diminishing returns

c. Indifference Curve

d. All of the above

IX. Marginal Utility curve of a consumer is also his (1)

a) Supply Curve

b) Demand Curve

c) Both of above

d) None of above

X. Government of India has replaced FERA by (1)

a) The competition Act

b) FRBMA

c) MRTP Act

d) FEMA

Part Two:

1. What is Managerial Economics? What is its relevance to Engineers/Managers? (5)

2. “Managerial Economics is economics that is applied in decision making” Explain? (5)

3. Differentiate b/w, Micro economics vs. macroeconomics? (5)

4. Factors Affecting Price Elasticity of Demand? (5)

Section B: Caselets (40 marks)

END OF SECTION A

 This section consists of Caselets.

 Answer all the questions.

 Each Caselet carries 20marks.

 Detailed information should form the part of your answer (Word limit 150 to 200 words).

IIBM Institute of Business Management

Examination Paper of Managerial Economics

Caselet1

Dabur is among the top five FMCG companies in India and is positioned successfully on the specialist herbal platform. Dabur has proven its expertise in the fields of health care, personal care, home care and foods. The company was founded by Dr. S. K. Burman in 1884 as small pharmacy in Calcutta (now Kolkata), India. And is now led by his great grandson Vivek C. Burman, who is the Chairman of Dabur India Limited and the senior most representative of the Burman family in the company. The company headquarter is in Ghaziabad, India, near the Indian capital New Delhi, where it is registered. The company has over 12 manufacturing units in India and abroad. The international facilities are located in Nepal, Dubai, Bangladesh, Egypt and Nigeria. S.K. Burman, the founder of Dabur, was trained as a physician. His mission was to provide effective and affordable cure for ordinary people in far-flung villages. Soon, he started preparing natural remedies based on Ayurveda for diseases such as Cholera, Plague and Malaria. Due to his cheap and effective remedies, he became to be known as ‘Daktar’ (Indian izedversion of ‘doctor’). And that is how his venture Dabur got its name—derived from Daktar Burman. The company faces stiff competition from many multinational and domestic companies. In the Branded and Packaged Food and Beverages segment major companies that are active include Hindustan Lever, Nestle, Cadbury and Dabur. In case of Ayurvedic medicines and products, the major competitors are Baidyanath, Vicco, Jhandu, Himani and other pharmaceutical companies.

Vision statement of Dabur says that the company is “dedicated to the health and wellbeing of every household”. The objective is to “significantly accelerate profitable growth by providing comfort to others”. For achieving this objective Dabur aims to:

 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 synthesizing deep knowledge of Ayurveda and herbs with modern science.

 Be a professionally managed employer of choice, attracting, developing and retaining quality personnel.

 Be responsible citizen with a commitment to environmental protection.

 Provide superior returns, relative to our peer group, to our shareholders.

Chairman of the company

Vivek C. Burman joined Dabur in 1954 after completing his graduation in Business Administration from the USA. In 1986 he was appointed as the Managing Director of Dabur and in 1998 he took over as Chairman of the Company.

IIBM Institute of Business Management

Examination Paper of Managerial Economics

Under Vivek Burman’s leadership, Dabur has grown and evolved as a multi-crore business house with a diverse product portfolio and a marketing network that traverses the whole of India and more than 50 countries across the world. As a strong and positive leader, Vivek C. Burman had motivated employees of Dabur to “do better than their best”—a credo that gives Dabur its status as India’s most trusted nature-based products company.

Leading brands

More than 300 diverse products in the FMCG, Healthcare and Ayurveda segments are in the product line of Dabur. List of products of the company include very successful brands like Vatika, Anmol, Hajmola, Dabur Amla Chyawanprash, Dabur Honey and Lal Dant Manjan with turnover of Rs.100 crores each.

Strategic positioning of Dabur Honey as food product, lead to market leadership with over 40% market share in branded honey market; Dabur Chyawanprash is the largest selling Ayurvedic medicine with over 65% market share. Dabur is a leader in herbal digestives with 90% market share. Hajmola tablets are in command with 75% market share of digestive tablets category. Dabur Lal Tail tops baby massage oil market with 35% of total share.

CHD (Consumer Health Division), dealing with classical Ayurvedic medicines, has more than 250 products sold through prescription as well as over the counter. Proprietary Ayurvedic medicines developed by Dabur include Nature Care Isabgol, Madhuvaani and Trifgol.

However, some of the subsidiary units of Dabur have proved to be low margin business; like Dabur Finance Limited. The international units are also operating on low profit margin. The company also produces several “me – too” products. At the same time the company is very popular in the rural segment.

Questions

1. What is the objective of Dabur? Is it profit maximisation of growth maximisation? (10)

2. 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 the proprietorship form? Elaborate. (10)

Caselet2

The Regina Company„ one of the largest inakets of vacuum cleaners recent') had scv cfc ptollkins with the quality of its products. The market responsc to this 1ak of quality caused financial problems for Ow company. in late 1995. Regina began having return rates as high as 30 to 50 percent on some of its Housekeeper and Housekeeper Plus models. These models were sold primarily through discount stores. Further, Regina's Spectrum vacuum cleaner, an upgraded version sold in specialty stores, was introduced in 1995 with many quality problems. ef The specific problems identified for the Housekeeper and Housekeeper Plus models were associated with faulty belts and weak suction. In the Spectrum model, the agitator was melting; and making a loud noise, the foot pedals were breaking, and the steel-encased motor (which had been advertised as the

IIBM Institute of Business Management

Examination Paper of Managerial Economics

power source for the vacuum cleaner) had been replaced with a less desirable. less reliable motor.

As a result of these problems, Target stores discontinued Regina's Housekeeper Plus model after reporting that "at least half of those sold were returned." At Starmart, which accounts for about a quarter of the Housekeeper sales, I. out of every 5 machines sold was returned. To help service customer complaints, Regina set up an 800 telephone number for customers to contact the firm. directly. The sales returns caused Regina's shareholders to question the 1995 fiscal earnings report. Furthermore, both inventories and accounts receivable doubled during the 1995 fiscal year. At the end of that period, Regina's chairman and 40 percent stockholders

Resigned. The chairman’s resignation was closely followed by a company announcement stating that the financial results reported for the 1995 fiscal year were materially incorrect and had been withdrawn. This announcement brought a suit from shareholders who had bought Reoina stock on the basis of the 1995 camings report. It also prompted an audit of the 1995 results and a request to another accounting organization to work on Regina's business and accounting controls. A few months later, Regina 'agreed to be acquired by a unit of Magnum, a vacuum cleaner and Water-purification Company. Under Magnum, Regina shut down production while engineers worked to solve the problems inherent in the Housekeeper and Housekeeper Plus vacuums, particularly the suction difficulties. In September 1998, Magnum and Regina decided to separate the two companies again. Since then, Regina has been regaining market share with its Housekeeper models. The 'vacuums are popular because they carry on-board tools.

Questions:

1. What type of controls would you have established to preclude the major returns experienced by Regina? (10)

2. How would you have controlled the finished-goods -inventory to avoid its growing to twice the size that it was in the previous year. (10)

Section C: Applied Theory (30 marks)

1. What is the importance of demand analysis in business decision? (15)

2. Explain individual demand function and market demand function. (15)

S-2-010619

 This section consists of Applied Theory Questions.

 Answer all the questions.

 Each question carries 15marks.

 Detailed information should form the part of your answer (Word limit 200 to 250 words).

END OF SECTION C

END OF SECTION B

Examination Paper of Business Communication

IIBM Institute of Business Management

• This section consists of multiple choices and Short Notes type questions.

• Answer all the questions.

• Part one questions carry 1 mark each & Part two questions carry 5 marks each.

IIBM Institute of Business Management

Subject Code-B109

Examination Paper Business Communication

MM.100

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

II. Down ward communication flows from_________ to_________. (1)

e) Upper to lower

f) Lower to upper

g) Horizontal

h) Diagonal

III. Horizontal communication takes place

between_________. (1)

a. superior to subordinate

b. subordinate to superior

c. employees with same status

d. none of these

IV. The study of communication through touch is_________. (1)

a. chronemics

b. haptics

c. proxemics

d. semantic

V._____________ channel of communication is known as grapevine (1)

a. Formal

b. Informal

c. Horizontal

d. Vertical

VI. The following is (are) the most effective ways of communication. (1) a. Verbal b. Non verbal c. Written d. All of the above

Examination Paper of Business Communication

IIBM Institute of Business Management

END OF SECTION A

• This section consists of Caselets.

• Answer all the questions.

• Each Caselet carries 20marks.

• Detailed information should form the part of your answer (Word limit 150 to 200 words).

VII. The handshake that conveys confidence is (1)

a. Limp

b. Firm

c. Loose

d. Double

VIII. ________ of the letter consists of main message. (1)

a. Heading

b. Body

c. Greeting

d. Closing

IX. Body of a letter is divided into ________

parts. (1)

a. 1

b. 2

c. 3

d. 4

X. 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

Part Two:

1. Brief Grapevine communication? (5)

2. List the 7 C’s of Communication? (5)

3. Describe the various barriers of communication? (5)

4. Write the negotiation process. (5)

Section B: Caselets (40 marks)

Caselet 1

Barry and Communication Barriers Effective Communication as a Motivator One common complaint employees voice about supervisors is inconsistent messages – meaning one supervisor tells them one thing and another tells them something different. Imagine you are the supervisor/manager for each of the employees described below. As you read their case, give

Examination Paper of Business Communication

IIBM Institute of Business Management

consideration to how you might help communicate with the employee to remedy the conflict. Answer the critical thinking questions at the end of the case then compare your answers to the Notes to Supplement Answers section. Barry is a 27-year old who is a foodservice manager at a casual dining restaurant. Barry is responsible for supervising and managing all employees in the back of the house. Employees working in the back of the house range in age from 16 years old to 55 years old. In addition, the employees come from diverse cultural and ethnic backgrounds. For many, English is not their primary language. Barry is Serv Safe® certified and tries his best to keep up with food safety issues in the kitchen but he admits it’s not easy. Employees receive “on the job training” about food safety basics (for example, appropriate hygiene and hand washing, time/temperature, and cleaning and sanitizing). But with high turnover of employees, training is often rushed and some new employees are put right into the job without training if it is a busy day. Eventually, most employees get some kind of food safety training. The owners of the restaurant are supportive of Barry in his food safety efforts because they know if a food safety outbreak were ever linked to their restaurant; it would likely put them out of business. Still, the owners note there are additional costs for training and making sure food is handled safely. One day Barry comes to work and is rather upset even before he steps into the restaurant. Things haven’t been going well at home and he was lucky to rummage through some of the dirty laundry and find a relatively clean outfit to wear for work. He admits he needs a haircut and a good hand scrubbing, especially after working on his car last evening. When he walks into the kitchen he notices several trays of uncooked meat sitting out in the kitchen area. It appears these have been sitting at room temperature for quite some time. Barry is frustrated and doesn’t know what to do. He feels like he is beating his head against a brick wall when it comes to getting employees to practice food safety. Barry has taken many efforts to get employees to be safe in how they handle food. He has huge signs posted all over the kitchen with these words: KEEP HOT FOOD HOT AND COLD FOOD COLD and WASH YOUR HANDS ALWAYS AND OFTEN. All employees are given a thermometer when they start so that they can temp food. Hand sinks, soap, and paper towels are available for employees so that they are encouraged to wash their hands frequently.

Questions

1. What are the communication challenges and barriers Barry faces? (10)

2. What solutions might Barry consider in addressing each of these challenges and barriers? (10)

Caselet 2

Mr. Dutta, newly appointed president of century Airlines, knew the company’s survival depended on customer service, which in turn depended on motivated employees. So he created the Century Spirit program to build team spirit by encouraging employee participation, individual initiative, and open communication. Among the program’s early successes was newspaper started by a group of flight attendants. The plane truth published information about benefits and work conditions as well as feature stories and humorous articles. It quickly became popular not only with flight attendant but with pilot, machinists, and baggage handlers.

As time went on, though, the plane truth began to run articles critical of the company. When management cut back worker’s hours, the, newspaper questioned what sacrifices the executive were making. When the technical services department releases figures showing long turnaround times, the paper questioned the machinist’s work ethic. Worried that customer might see the newspaper; Mr. Dutta wanted to cancel it. The president of the flight attendants union also wanted to see it was stirring up trouble with the machinists.

Examination Paper of Business Communication

IIBM Institute of Business Management

• This section consists of Applied Theory Questions.

• Answer all the questions.

• Each question carries 15marks.

• Detailed information should form the part of your answer (Word limit 200 to 250 words).

END OF SECTION C

Ms. Rachel, Century’s human resource director, was asked to stop the publication. But she hesitated. She knew the employee morale was on the brink, but she did not know whether the newspaper was venting worker’s frustrations and reinforcing team spirit or stirring up old animosities and bringing the whole company down. Was it creating more tension than unity or vice-versa?

Questions

1. What Communication issues are involved at Century Airlines? (10)

2. What Communication Channels are being Utilized (10)

Section C: Applied Theory (30 marks)

1. Explain the various non verbal communications with an example in business

Scenario? (15)

2. Delineate the types of parts of business report writing? (15)

S-2-010619

Examination Paper of Management Information Systems

IIBM Institute of Business Management

IIBM Institute of Business Management

SubjectCode-B110

Examination Paper

Management Information Systems

MM.100

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

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

d) All of the above

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

IV. Top level Managers use (1)

a) Strategic information

b) Tactical information

c) Operational information

d) None of these

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

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

 This section consists of multiple choices and Short Notes type questions.

 Answer all the questions.

 Part one questions carry 1 mark each & Part two questions carry 5 marks each.

Examination Paper of Management Information Systems

IIBM Institute of Business Management

VII. Management is linked to information by (1)

a. Decisions

b. Data

c. Both [A] And [B]

d. None Of The Above

VIII. Which pattern reflects a pure executive form of management?

(1)

a. Functional

b. Line

c. Line and Staff

d. Committee

IX. The term financial engineering is related to (1)

a) Cost of production

b) Financial restructuring

c) Product planning

d) Capital issue

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

Part Two:

1. What is purpose of information system from a business perspective? (5)

2. What are Enterprise System? How do they benefit businesses? (5)

3. Differentiate DSS from MIS. (5)

4. What do you mean by Data visualizations? (5)

Section B: Caselets (40 marks)

END OF SECTION A

 This section consists of Caselets.

 Answer all the questions.

 Each Caselet carries 20marks.

 Detailed information should form the part of your answer (Word limit 150 to 200 words).

IIBM Institute of Business Management

Examination Paper of Management Information System

Caselet -1

A waiter takes an order at a table, and then enters it online via one of the six terminals located in the restaurant dining room. The order is routed to a printer in the appropriate preparation area: the cold item printer if it is a salad, the hot-item printer if it is a hot sandwich or the bar printer if it is a drink. A customer’s meal check-listing (bill) the items ordered and the respective prices are automatically generated. This ordering system eliminates the old three-carbon-copy guest check system as well as any problems caused by a waiter’s handwriting. When the kitchen runs out of a food item, the cooks send out an ‘out of stock’ message, which will be displayed on the dining room terminals when waiters try to order that item. This gives the waiters faster feedback, enabling them to give better service to the customers. Other system features aid management in the planning and control of their restaurant business. The system provides up-to-the-minute information on the food items ordered and breaks out percentages showing sales of each item versus total sales. This helps management plan menus according to customers’ tastes. The system also compares the weekly sales totals versus food costs, allowing planning for tighter cost controls. In addition, whenever an order is voided, the reasons for the void are keyed in. This may help later in management decisions, especially if the voids consistently related to food or service. Acceptance of the system by the users is exceptionally high since the waiters and waitresses were involved in the selection and design process. All potential users were asked to give their impressions and ideas about the various systems available before one was chosen.

Questions

1. What would make the system a more complete MIS rather than just doing transaction processing? (10)

2. Explain the probable effects that making the system more formal would have on the customers and the management? (10)

Caselet 2

The Company is considered to be a leader in the design and production of industrial and commercial air-conditioning equipment. While most of the products were standard items, a considerable number involving large sales volume were specially designed for installation in big office buildings and factories. Besides being an innovator in product design and having an exceptionally good customer service department, the company is well known for its high-quality products and its ability to satisfy the customer requirements promptly.

Because of its rapid growth, the company had to be careful with its cash requirements, especially for accounts receivable and for inventories. For many years, the company had kept inventories under close control at a level equal to 1.7 times the monthly sales, or a turnover of nearly 6 times per year. But, all of a sudden, inventories soared to triple monthly sales, and the company found itself with Rs.30 crores of inventories above a normal level. Calculating a cost of carrying inventory at 30 percent of the value of

IIBM Institute of Business Management

Examination Paper of Management Information System

inventories (including the cost of money, storage and handling, and obsolescence), it was estimated that this excess inventory was costing the company Rs.9 crores per year in profits before taxes. In addition, it forced the to call on its bank for more loans than had company been expected.

Mr. Dcepak Mehra, president of Connair, was understandably worried and incensed when this matter came to his attention. He was told that the primary reasons for this rise in inventory were excessive buying of raw materials in advance because of anticipated shortages and the failure of a new computer software, with the result the people in the production and purchasing departments were not having complete information as to what was happening to inventory for several months.

Mr. Mehra, taking the stand that no company should let something like this surplus inventory occur without advance notice and that no manager can be expected to control a business on the basis of history, instructed his vice-president for finance to come up with a program to get better control of inventories in the future.

Questions for Discussion:

1. What do you find wrong with Connair's controls? (10)

2. Are there any other techniques or approaches to control that you would suggest? (10)

Section C: Applied Theory (30 marks)

1. List and describe the information systems serving each of the major functional areas of business? (15)

2. What are the characteristics of MIS? How MIS do differs from TPS? (15)

S-2-010619

 This section consists of Applied Theory Questions.

 Answer all the questions.

 Each question carries 15marks.

 Detailed information should form the part of your answer (Word limit 200 to 250 words).

END OF SECTION C

END OF SECTION B