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1.
List out the exemptions under which information can be denied under the Right
to Information Act, 2005.
Answer: Right
to information is a part of fundamental rights of an Indian citizen
under Article 19 (1) of the Constitution. Article 19 (1) states that every
citizen has freedom of speech and expression. Until 1976, the Supreme Court
ruled that people cannot express themselves unless they know. India is
a democratic country where people are the masters and have the right to know the
method of functioning of the Government of India, which is meant to serve
them.In the Indian democratic system, the right to information for every
citizen is are volutionary step. Officials, in the name of administrative
secrecy, hesitated to disclose information and kept the general public in
darkness about important decisions of the Government and other administrative
bodies. This has, in turn, led to the increase of corruption, under the cloak of
secrecy.
A citizen can
ask government officials reasons for delay in government service requested for.
For example, if you have applied for passport and it has not been delivered.
Then one can apply RTI with the following questions:
•
Please provide daily progress done on my
passport application.
•
Please provide names of officers with
whom my application has been lying during this period.
•
Please inform as per your citizen’s
charter in how many days I should have got my
2.
Explain two (2) instances in which the consumer courts in India have given
directions/orders awarding reliefs in respect to defect of goods/deficiency of
service.Each instance should in detail explain (i) facts of the case and (ii)
what relief and damages the consumer courts has granted.
Answer: The
Consumer Protection Act, 1986 is the most important and comprehensive Act for
the protection of consumer rights. It was amended in 1989 and since then has
been amended five times to keep pace with the changing times and increased
awareness about consumer rights.
According
to the Consumer protection act, 1986, following are the Rights of consumers
Ø Right to safety: The
right to be protected against the marketing of goods and services that are
hazardous to life and property.
Ø Right to be informed: The
right to be informed about the quality, quantity, potency, purity, standard and
price of goods or services, as the case may be, to protect the consumer against
unfair trade practices.
Ø Right to choose: The
right to be assured, wherever possible, access to a variety of goods and
services at competitive prices. In case of monopolies, say, railways,
telephones, etc., it means right to be assured of satisfactory quality and
service at a fair price.
Ø Right to be heard: The
consumers’ interests will receive due consideration at appropriate forums. It
also includes right to be represented in various forums formed to consider the
3.
Karan and Arjun had entered into a contract where Karan was to supply 50,000
phones to Arjun within 2 months from the date of signing of contract. Karan was
to procure the phones from China and deliver the same to Arjun. The rate of the
phone was Rs. 5000/- a piece (inclusive of all taxes and duties). At the time
of the execution of the contract, the duty was at 5% (five percent).
Immediately after the execution of the Agreement, India had increased the
duties to 1000% (one thousand percent). Therefore, Karan was finding it
difficult to sell the phones at the price agreed earlier. In the circumstances,
kindly advice:
a.
How can Karan discharge such a contract?
b.
How can Arjun enforce such a contract?
Answer: a) Discharge
refers to the termination of contractual relationship between the parties. The
contract ceases to operate, i.e., when the rights and obligations under the
contract ends. According to Sections 73-75 of the Contracts Act, a contract may
be discharged in several modes.
Performance
or tender
The obvious mode
of discharge of a contract is by performance, where the parties have done
whatever was contemplated under the contract. Thus, where A contracts to sell
his/her car to B for Rs. 1,85,000, as soon as the car is delivered to B and B
pays the agreed price for it, the contract comesto an end by performance.
Mutual
consent
Section 62 of
the Act states that if the parties to a contract agree to substitute a new
contract for the old or rescind or alter the terms, the original contract is
discharged. A contract may be terminated by mutual consent in any of the six
ways, viz., novation, rescission, alteration and remission, waiver and
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1.
The Stock Price details of TATA TELESERVICES (MAHARASHTRA) LTD. are given below
|
Date
|
Close
|
No. of shares
|
No. of trades
|
Total turnover
|
|
1-3-2019
|
3.09
|
69242
|
100
|
214257
|
|
5-3-2019
|
3.35
|
197344
|
251
|
651621
|
|
6-3-2019
|
3.41
|
158205
|
160
|
547942
|
|
7-3-2019
|
3.55
|
400183
|
433
|
1399537
|
|
8-3-2019
|
3.49
|
273890
|
503
|
942944
|
|
11-3-2019
|
3.5
|
146178
|
145
|
512714
|
|
12-3-2019
|
3.52
|
80672
|
109
|
283868
|
|
13-3-2019
|
3.46
|
149428
|
116
|
514536
|
|
14-3-2019
|
3.4
|
72539
|
183
|
244876
|
For
the above sample, determine the following measures:
a.
The mean closing price
b.
The standard deviation of total number of shares
c.
The median value of number of trades
d.
The 75th percentile value of total turnover
Analyze
the above data using descriptive statistics and comment on the relationship
between the various variables
Answer:a)Mean:The mean is
also known as the average. Most of us look at an average as a way of smoothing
over the variations in data and obtaining a single representative number. For
example, we speak of an individual being an “average” student or of average
intelligence. We always talk about average family size or average family
earnings or average percentage of marks for students, etc. There are many
situations where this is not the case, and we must look at other estimates of
central tendency to understand what is really going on with our data.
|
Date
|
Close
|
|
1-3-2019
|
3.09
|
|
5-3-2019
|
3.35
|
|
6-3-2019
|
3.41
|
|
7-3-2019
|
3.55
|
|
8-3-2019
|
3.49
|
|
11-3-2019
|
3.5
|
|
12-3-2019
|
3.52
|
|
13-3-2019
|
3.46
|
|
14-3-2019
|
3.4
|
Total of
2.
Let’s assume that you have gathered the following information on the prices for
different management books and the number of pages that each book contains.
|
BOOK
|
PAGES (X)
|
PRICE (Y)
|
|
A
|
500
|
700
|
|
B
|
700
|
750
|
|
C
|
750
|
900
|
|
D
|
590
|
650
|
|
E
|
540
|
750
|
|
F
|
650
|
700
|
|
G
|
480
|
450
|
a.
Develop a least-squares estimated regression line.
b.
Compute the coefficient of determination and explain its meaning.
Answer:a)
Data required for calculation of regression coefficient
|
BOOK
|
PAGES (X)
|
PRICE (Y)
|
XY
|
X^2
|
Y^2
|
|
A
|
500
|
700
|
350000
|
250000
|
490000
|
|
B
|
700
|
750
|
525000
|
490000
|
562500
|
|
C
|
750
|
900
|
675000
|
562500
|
810000
|
|
D
|
590
|
650
|
383500
|
348100
|
422500
|
|
E
|
540
|
750
|
405000
|
291600
|
562500
|
|
F
|
650
|
700
|
455000
|
422500
|
490000
|
|
G
|
480
|
450
|
216000
|
230400
|
202500
|
|
|
4210
|
4900
|
3009500
|
2595100
|
3540000
|
Mean of X = ∑X/N
= 4210/7 = 601.43
Mean of Y = ∑Y/N
= 4900/7 = 700
∑XY = 3009500
∑X^2 = 2595100
∑Y^2 = 3540000
byx = ∑XY –
1/N * ∑X*∑Y
∑X^2 – 1/N * (∑X)^2
= 3009500 –
1/7 * 4210*4900
3.
The OECD cut forecasts again for the global economy in 2019 and 2020, following
on from previous downgrades in November, as it warned that trade disputes and
uncertainty over Brexit would hit world commerce and businesses. The
Organization for Economic Co- Operation & Development forecast in its
interim outlook report that the world economy would grow 3.3 percent in 2019
and 3.4 percent in 2020. Those forecasts represented cuts of 0.2 percentage
points for 2019 and 0.1 percentage points for 2020, compared to the OECD’s last
set of forecasts in November. “High policy uncertainty, ongoing trade tensions,
and a further erosion of business and consumer confidence are all contributing
to the slowdown,” said the OECD in its report. “Substantial policy uncertainty
remains in Europe, including over Brexit. A disorderly exit would raise the
costs for European economies substantially,” added the OECD. Europe remains
impacted by uncertainty over Britain’s plans to exit the European Union, the
U.S. - China trade spat and other weak spots, such as signs of a recession in
Italy. For Germany, Europe’s largest economy, the OECD more than halved its
2019 GDP growth forecast to 0.7 percent from 1.6 percent previously. It
predicted a light recovery to 1.1 percent growth in 2020. Germany’s
export-reliant economy is particularly affected by weaker global demand and
rising trade barriers.
(Source:
https://www.reuters.com/article/us-oecd-economy/global-economic-growthforecasts-cut-again-by-oecd-idUSKCN1QN13N)
a.
In your opinion what forecasting tools are used in the above case for
forecasting the global economy? Justify.
b.
Are the forecasts accurate? Comment. What all errors are possible in the
forecasts and how to deal with such errors?
Answer:a) Economic
growth is an increase in the production of goods and services over a specific
period. To be most accurate, the measurement must remove the effects of
inflation. Economic growth creates more profit for businesses. As a result,
stock prices rise. That gives companies capital to invest and hire more
employees. As more jobs are created, incomes rise. Consumers have more money to
buy additional products and services. Purchases drive higher economic growth.
For this reason, all countries want positive economic growth.
Economic forecasting
is the process of attempting to predict the future condition of the economy
using a combination of important and widely followed indicators. Economic
forecasting typically tries to come up with a future gross domestic product
(GDP) growth rate, involving the building of statistical models with inputs of
several key variables, or indicators. Some of the primary economic indicators
include inflation, interest rates, industrial production, consumer confidence,
worker productivity, retail sales and unemployment rates, to name several.
Forecasting
tools used by
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1.
Mazbooti Pvt Ltd is a civil engineering firm doing projects in buildings,
roads, bridges, Flyovers etc. Recently they have bagged a lot of projects for
which they require Graduate Trainee Engineers as well as Diploma Trainee
Engineers in huge numbers. What could be the method of recruitment in such
scenario? Discuss any two methods of recruitment for such high numbers also
conclude by choosing the best method.
Answer: According
to Yoder, “Recruitment is a process to discover the sources ofmanpower to meet
the requirements of the staffing schedule and to employeffective measures
forattracting that manpower in adequate numbers tofacilitate effective selection
of an efficient working force.” In this definitionmore emphasis is given on
sources of recruitment so that we can geteffective and efficient work force to
meet job requirements.A firm must adopt a recruitment process so that they can
get pool ofapplicants in a cost effective manner. Through recruitment the firm
makesthe first contact with the potential candidates. The recruitment policy of
anyorganisation is derived from its personnel policy. In other words, we can
saythat personnel policy provides guidelines for making recruitment plans.
There are many
factors that affect the recruitment programme. These factors can be classified
as organisational or internal factors, and environmental or external factors.
Organisational
factors include the following:
ü Reputation
of the organisation-an organisational reputation depends on its size, area of
business, profitability, management,
2.
As per various researches it is reported that simulations are one of the most
effective way of training. Discuss this statement with the help of strong
supporting justifications and examples. Also conclude by suggesting any other
form of training which can be considered to be as strong as simulations.
Answer: Training
helps people in choosing, utilising and evaluating their experiences.Different
people have defined training in different ways. According to H.John Bernardin,
“Training is any attempt to improve employee performanceon a currently held job
or one related to it.” In other words, we can say thattraining focuses on
current jobs and it is concerned with specific job skillsand behavior.
Flippo defines
training as the act of increasing the knowledge and skills ofan employee for
doing a particular job. Taylor defined training as a means tobring about a
continuous improvement in the quality of work performed; toequip them with
necessary knowledge, skill, abilities and attitude to performtheir work.
Training offersthe skills and
in-depth knowledge.The term training means acquisition of knowledge, skills,
and competenciesas a result of teaching practical skills and knowledge that
relate to specificuseful tasks. Training is an educational process. People can
learn newinformation, re-learn
3.
Kaira is working as an Assistant Manager –Marketing from past five years in an
FMCG company. She is a very hard working and dedicated employee. Her
performance has also been good consistently. She is one of the deserving
employee who never got her fair share of success. From past five years she has
not got a single promotion because of which she is contemplating to resign. She
communicated the same to Mohit who is her reporting authority. Mohit apprises
this to the top management and even gives cues that because of lack of career
planning their organisation is in a verge of losing an important talent.
Sanjay, the Operations Head on the other hand is totally against the idea of
Career planning.
a.
Mohit is asked to prepare a list of merits of Career planning. Help him prepare
the same.
b.
Sanjay opposes Mohit with his list of demerits on the career planning. Mention
all the pros and cons of career planning and highlight who is right, Mohit or
Sanjay?
Answer: a) As
mentioned in the question, Kaira is not satisfied with her current job
position. From the past five years she has been a consistent performer, even
though she holds good designation but there hasn’t been much progress as far as
her career is concerned. She is still holding the same designation since the
time she joined the organisation. This is the case for most of the employees
now a days so there must be some issue with the management. As per my view,
there is no proper career planning for the employees in the company and most of
the employees feel that there is no progress in their career graph.
Career planning offers various benefits and those are
mentioned below:
Ø Ensures availability of resources for the
future:
Career development in an organisation should be in alignment with the HRP. HRP
determines the changing requirements of an organisation and career development
helps in meeting the resource requirements.
Ø Enhances organisational ability to attract
and retain talent: In a competitive market environment,
talented employees have career opportunities. Therefore, an organisation that
shows concern for the employees’ future by providing them the best
opportunities can attract and retain talented people.
Ø Ensures growth opportunities
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1.
An investor wants to tests the financial position of Asian Paints Ltd. Thus, he
wants to assess the short term liquidity as well as long term solvency. Discuss
the four relevant ratio’s which he will definitely look into.
Answer: Investments
may be defined as a commitment of one’s money in one or more of asset classes
in anticipation of some gains while simultaneously bearing risk of uncertainty.
To the economist, investment is the net addition made to the nation’s capital
stock that consists of goods and services that are used in the production process.
A net addition to the capital stock means an increase in the buildings,
equipment or inventories. These capital stocks are used to produce other goods
and services. Financial investment is the allocation of money to assets that
are expected to yield some gain over a period of time. It is an exchange of
financial claims such as stocks and bonds for money. They are expected to yield
returns and experience capital growth over the years.
One of the major
aspects while taking a right investment decision is to analyze the financial
statements of any company. Financial Statement analysis is a process to select,
evaluate and interpret financial data
2.
Discuss the components of Other Income under the statement of Profit and Loss
accounts of any Indian Corporate. How other income is different from revenue
from normal operations under the vertical format.
Answer: Profit
and loss account is an important account that reveals the net result of the
business in the form of net profit or net loss. All revenue receipts are
received regularly out of day to day activities of the business. Revenue
payments that are incurred are recorded in profit and loss account. The capital
receipts and capital payments are not considered while preparing profit and
loss account as theydo not form a part of this account.
Components
of the profit and loss account
Ø Revenue: Revenue is the
total amount of money received by a business entity after selling its products
or services. Generally, revenue is also known as sales revenue or net sales and
it can be calculated by deducting sales return, discounts and allowances from
total sales. It is recorded at the top of the income statement and because of
this it is also known as ‘top line’.
Ø Cost of goods sold
(COGS): COGS includes all direct costs involved in the process of production.
For example, raw material, labour, factory overheads, depreciation on plant and
machinery, etc.
Ø Gross profit or gross loss: It
is the difference between the revenue received and cost of goods sold for a
particular
3.
The following information is provided by a dealer in computer chips. The dealer
follows FIFO method for valuing stock, calculate from the following figures –
Date particulars
April
1, 2019 Opening stock 750
chips @Rs1550 per chip
Purchases
April
10, 2019 1000 chips @Rs1750 per
chip
April
20, 2019 1650 chips @ Rs1875
per chip
Sales
April
15, 2019 900 chips @Rs3000 per
chip
April
16, 2019 1950 chips @ Rs 3250
per chip
a)
Cost of goods available for sale
b)
Gross profit
Answer: FIFO METHOD
|
Date
|
Purchases
|
Sales
|
Inventory
|
||||||
|
Units
|
Price
|
Total
|
Units
|
Price
|
Total
|
Units
|
Price
|
Total
|
|
|
1/4/2019
|
|
|
|
|
|
|
750
|
1550
|
1162500
|
|
10/4/2019
|
1000
|
1750
|
1750000
|
|
|
|
750
|
1550
|
1162500
|
|
|
|
|
|
|
|
|
1000
|
1750
|
1750000
|
|
20/4/2019
|
1650
|
1875
|
3093750
|
|
|
|
750
|
1550
|
1162500
|
|
|
|
|
|
|
|
|
1000
|
1750
|
1750000
|
|
|
|
|
|
|
|
|
1650
|
1875
|
3093750
|
|
15/4/2019
|
|
|
|
750
|
1550
|
1162500
|
850
|
1750
|
1487500
|
|
|
|
|
|
150
|
1750
|
262500
|
1650
|
1875
|
3093750
|
|
16/4/2019
|
|
|
|
850
|
1750
|
1487500
|
550
|
1875
|
1031250
|
|
|
|
|
|
1100
|
1875
|
2062500
|
|
|
|
A)
Cost
of goods available for sale: The cost of goods available for sale
equals the beginning value of inventory plus the cost of goods purchased. The
cost of goods sold equals the cost of goods available for sale less
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1.
Assume you plan to purchase a new car for personal use. This will be the first
car that you will be purchasing. Discuss various steps of consumer buying
process that will be involved in purchasing a car.
Answer: Consumer
buying decision process includes a number of stages and is influenced by one’s
psychological framework comprising the individual’s personality, learning
process, levels of motivation, perception towards products and brands, and
formation of positive attitude towards the brand.
Factors
affecting buying behavior of a person
•
Age
and Life Cycle Stage: People change the goods and services
they buy over their lifetimes. Tastes in food, clothes, furniture, and
recreation are often age related. Buying is also shaped by the stage of the
family life cycle.
•
Occupation: A
person’s occupation also affects the goods and services bought. For example, a
security guard or a peon would usually buy more rugged work clothes, while the
managers and the CEOs would buy more business suits. A company can even
specialize in making products needed by a given occupational group. Thus,
computer software companies will design different products for brand managers,
accountants, engineers, lawyers, and doctors.
•
Economic
Situation:
A person’s economic situation will affect product choice.
•
Life
Style:
Life Style is a person’s pattern of living, understanding these forces involves
measuring consumer’s major AIO dimensions, i.e. activities (Work, hobbies,
shopping, support etc.)
2.
M/s Furnideas wishes to sell furniture in the Indian Market. The company is
known for their innovative ideas in furniture. The company has a global
presence in selling furniture. The company sells to High, Middle and Lower
Income group in different countries based on the segmentation. Furnideas
appoints you as a consultant to guide them on types of segmentation that they
should use for their furniture.
Answer: A market
segment is a portion of a larger market in which the individuals,groups, or
organisations share one or more characteristics that cause themto have
relatively similar product needs.
Five
conditions must exist for segmentation to be meaningful:
1. A marketer must determine
whether the market is heterogeneous. If the consumers‟ product needs are
homogeneous, then it is senseless tosegment the market.
2. There must be some logical
basis to identify and divide the population in relatively distinct homogeneous
groups, having common needs or characteristics and who will respond to a
marketing programme.
3. The total market should be
divided in such a manner that comparison of estimated sales potential, costs
and profits of each segment can be estimated.
4. One or more segments must
have enough profit potential that wouldjustify developing and maintaining a
marketing
3.
M/s Furnideas (as given in question 2) wants to promote its brand and products
to create awareness and increase the sale of its products
a.
Explain various promotion mix tools that you will use for M/s Furnideas to
create awareness about the brand and products.
b.
Explain any three online marketing tools that you will use to increase the sale
for M/s Furnideas.
Answer: a) The
importance of promotion has increased because of the widening of markets. The
physical distance between the producers and the consumers, the increase in the
number of buyers and the desire of the seller to capture a major share of the
market have made it absolutely necessary for every producer to undertake the
activity of promotion.
Ways
to promote the brand
Social
media:
The social media on the Internet has become crucial in the marketing arena
asmore and more people are joining social Websites like Facebook and Twitter.In
recent years, the popularity of social networking sites has shot up in a phenomenal
way, attracting millions of visitors who stay logged in for hours, in many
cases, all day. This has made these sites important for e-marketing, especially
given the fact that a large number of tech savvy customers obtain updates about
products and services from social networking sites such as Facebook, Twitter
and LinkedIn.Rather than seeing your company as "trying to sell"
something, the social network can see a company that is in touch with people on
a more personal level. This can help lessen the divide between the company and
the buyer, which in turn presents a more appealing
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1.
Assume you plan to purchase a new car for personal use. This will be the first
car that you will be purchasing. Discuss various steps of consumer buying
process that will be involved in purchasing a car.
Answer: Consumer
buying decision process includes a number of stages and is influenced by one’s
psychological framework comprising the individual’s personality, learning
process, levels of motivation, perception towards products and brands, and
formation of positive attitude towards the brand.
Factors
affecting buying behavior of a person
•
Age
and Life Cycle Stage: People change the goods and services
they buy over their lifetimes. Tastes in food, clothes, furniture, and
recreation are often age related. Buying is also shaped by the stage of the
family life cycle.
•
Occupation: A
person’s occupation also affects the goods and services bought. For example, a
security guard or a peon would usually buy more rugged work clothes, while the
managers and the CEOs would buy more business suits. A company can even
specialize in making products needed by a given occupational group. Thus,
computer software companies will design different products for brand managers,
accountants, engineers, lawyers, and doctors.
•
Economic
Situation:
A person’s economic situation will affect product choice.
•
Life
Style:
Life Style is a person’s pattern of living, understanding these forces involves
measuring consumer’s major AIO dimensions, i.e. activities (Work, hobbies,
shopping, support etc.)
2.
M/s Furnideas wishes to sell furniture in the Indian Market. The company is
known for their innovative ideas in furniture. The company has a global
presence in selling furniture. The company sells to High, Middle and Lower
Income group in different countries based on the segmentation. Furnideas
appoints you as a consultant to guide them on types of segmentation that they
should use for their furniture.
Answer: A market
segment is a portion of a larger market in which the individuals,groups, or
organisations share one or more characteristics that cause themto have
relatively similar product needs.
Five
conditions must exist for segmentation to be meaningful:
1. A marketer must determine
whether the market is heterogeneous. If the consumers‟ product needs are
homogeneous, then it is senseless tosegment the market.
2. There must be some logical
basis to identify and divide the population in relatively distinct homogeneous
groups, having common needs or characteristics and who will respond to a
marketing programme.
3. The total market should be
divided in such a manner that comparison of estimated sales potential, costs
and profits of each segment can be estimated.
4. One or more segments must
have enough profit potential that wouldjustify developing and maintaining a
marketing
3.
M/s Furnideas (as given in question 2) wants to promote its brand and products
to create awareness and increase the sale of its products
a.
Explain various promotion mix tools that you will use for M/s Furnideas to
create awareness about the brand and products.
b.
Explain any three online marketing tools that you will use to increase the sale
for M/s Furnideas.
Answer: a) The
importance of promotion has increased because of the widening of markets. The
physical distance between the producers and the consumers, the increase in the
number of buyers and the desire of the seller to capture a major share of the
market have made it absolutely necessary for every producer to undertake the
activity of promotion.
Ways
to promote the brand
Social
media:
The social media on the Internet has become crucial in the marketing arena
asmore and more people are joining social Websites like Facebook and Twitter.In
recent years, the popularity of social networking sites has shot up in a phenomenal
way, attracting millions of visitors who stay logged in for hours, in many
cases, all day. This has made these sites important for e-marketing, especially
given the fact that a large number of tech savvy customers obtain updates about
products and services from social networking sites such as Facebook, Twitter
and LinkedIn.Rather than seeing your company as "trying to sell"
something, the social network can see a company that is in touch with people on
a more personal level. This can help lessen the divide between the company and
the buyer, which in turn presents a more appealing
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