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Business Communication and Etiquette
1. Give examples of the following types of Biases in a
sentence: Gender bias, Racial bias, Age bias, Disability bias. How can they be
avoided? (10 Marks)
Answer:
INTRODUCTION
Bias is a tendency to lean in a
certain direction, often to the detriment of an open mind. Those who are biased
tend to believe what they want to believe, refusing to take into consideration
the opinions of others. Sprouting from cultural contexts, biases tend to take
root within an ethnic group, social class, or religion.
Bias, prejudice, and discrimination all live under the same roof.
Bias is an inclination toward one way of thinking, often based on how you were
raised.
Prejudice is a feeling toward a person
based solely on their affiliation with a group. It often casts an unfavorable
light on someone simply because they're a member of some family, church, or
organization. Discrimination comes into play when one
starts acting upon an inherent prejudice
2. FashionStation.com is an online apparel store. You are the
Online Customer Service Manager. A disgruntled customer has written a rude
email complaining that the chiffon blouse she purchased a month ago has torn
and shrunk, after just machine-washing it once. Your website clearly mentions
that delicate materials like chiffon can only be hand-washed. She is asking for
a replacement or a complete refund of Rs. 2000. How would you respond to this
complaint? Draft an email. (10 Marks)
Answer:
Dear Customer,
Thank you for your recent purchase with us. I am so sorry to hear
that you have had a such a poor experience. I completely understand how upset
you must feel about the torn
3. a. You’ve just finished the first document draft of a
crucial proposal you are to send out next week. Explain the different tactics
you may use to proofread it. (5 Marks)
Answer:
INTRODUCTION
As the writer of a document, it’s harder to spot any errors in it.
You know what you meant to say, and so your brain will conveniently skip over
missing words, typos and jumbled sentences. For this reason, it’s always best
to get someone else to proofread your work. But even then, if your colleague
doesn’t have a toolkit of proofreading techniques, they can wade through your
words without really improving your work.
SEVEN WAYS TO PROOFREADING SUCCESS
1.
Print out a hard copy while proofreading on screen. Arm
yourself with two copies. It’s likely that errors
b. You’ve been shortlisted for an
interview at your dream company. What are the different common types of
Interviews you should mentally prepare yourself for? (5 Marks)
Answer:
Panel Interview
Companies that conduct panel interviews will typically bring in a
variety of representatives (perhaps someone from human resources, a manager from the pertinent
department, and an employee) to get a group consensus on candidates. Each
person will ask questions and
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Business Economics
1. What is Demand
forecasting? Explain different qualitative methods of demand forecasting. State
which of the methods described is most suitable for forecasting the demand for
“newspaper” and why?
Answer:
Demand forecasting seeks to investigate and measure the forces
that determine sales for existing and new products. Generally companies plan
their business - production or sales in anticipation of future demand. Hence,
forecasting future demand becomes important. The art of successful business
lies in avoiding or minimizing the risks involved as far as possible and facing
the uncertainties in a most befitting manner. Thus, demand forecasting refers
to an estimation of most likely future demand for a product, under given
conditions.
Demand forecasting is generally associated with forecasting sales.
A firm can make use of the sales forecasts made by the industry as a powerful
tool for formulating sales policy and sales strategy. They can become action
guides to select the course of action which will maximise the firm’s earnings.
To use demand forecasting in an active rather than a passive way, management
must recognise the degree to
2. Complete the
hypothetical table below and explain in brief, the law of variable proportions.
Quantity
|
Total Product
|
Average Product
|
Marginal Product
|
1
|
10
|
|
|
2
|
30
|
|
|
3
|
48
|
|
|
4
|
56
|
|
|
5
|
56
|
|
|
6
|
52
|
|
|
Answer:
Quantity
|
Total Product
|
Average Product
|
Marginal Product
|
1
|
10
|
10
|
10
|
2
|
30
|
15
|
20
|
3
|
48
|
16
|
18
|
4
|
56
|
14
|
8
|
5
|
56
|
11.2
|
0
|
6
|
52
|
8.67
|
-4
|
Total
product or output (TP): It is the output derived from all units of
factors, both, fixed & variable, employed by the producer. It is also the
sum of marginal output.
Average
product or output (AP): It can be obtained by dividing total output
by the number of variable factors employed.
Marginal
product or output (MP): It is the output derived from the
employment of an additional unit of a variable factor.
Trends
in output
From table , one can
observe the following tendencies in the TP, AP, & MP:
1. Total output goes on
increasing as long as MP is positive. It is the highest when MP is zero and TP
declines when MP becomes negative.
2. MP increases in the
beginning, reaches the highest point and diminishes at the end.
3. AP will
3. a. Explain the types
of elasticity of demand. Calculate elasticity of demand for the following data.
Price of Apple (Rs.)
|
Quantity demanded
(KGs)
|
20
|
100
|
21
|
96
|
Answer:
Kinds
of elasticity of demand
Broadly speaking there are five
kinds of elasticity of demand. They are Price Elasticity, Income Elasticity,
Cross Elasticity, Promotional Elasticity and Substitution Elasticity. We shall
discuss each one of them in some detail.
Price
Elasticity of Demand
In the words of Prof. Stonier and
Hague, price elasticity of demand is a technical term used by economists to
3. b. Distinguish
between the features of perfect competition and monopolistic competition. Give
real world examples of each of these types of markets.
Answer:
Perfect competition is a
comprehensive term which includes pure competition also. A perfectly competitive
market is one in which the number of buyers and sellers are very large, all
engaged in buying and selling a homogeneous product without any artificial
restriction and possessing perfect knowledge of market at a time. According to
Bilas, “the perfect competition is characterized by the presence of many firms:
They all sell identically the same product. The seller is the price - taker”.
According to Prof. F. Knight perfect competition entails “Rational conduct on
the part of buyers and sellers, full knowledge, absence of friction, perfect
mobility and perfect divisibility of factors of production and completely
static conditions”.
Example:
In the modern world,
stock markets are commonly quoted as an example of a scenario where perfect
competition conditions exist. For a given stock, various bidders quote their
prices and a market price
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Corporate Social Responsibility
1. Pick &
choose a Sustainability report of an Indian company in the Services domain only
& choose any one Water Management initiative & any one Rural Management
initiative being undertaken by the organisation. Analyse and explain the
initiative’s qualitative and quantitative data in the form of a case, such that
it showcases all the benefits, financial and non-financial that accrue to the
company. (10 Marks)
Answer:
INTRODUCTION
Sustainability Reporting is a process for publicly disclosing
an organization’s economic, environmental and social performance and the
impacts caused by its everyday activities. It also presents the organization’s
values and governance model,and demonstrates the link between its strategy and
its commitment to a sustainable global economy. It combines the analysis of
financial and non-financial performance.
I went through the Sustainability Report of Larsen &
Toubro Limited for the year 2017-2018 and the company has a water saving
initiative that intrigued me the most i.e. Water Conservation: More than 450
billion litres of potential created.
Water
Management Initiatives:
• All 24 L&T Campuses in India are now Water Positive; a
result of our painstaking efforts in constructing water storage structures,
zero wastewater, discharge and rain-water harvesting facilities across
2.
ChhatrapatiShivajiMaharaj International Airport, Mumbai (CSIA) has offered a
job role to you in the capacity of a CSR Head. The Airport has created this
position recently & has no previous experience in CSR. Describe in brief at
least 10 innovative initiatives that you will implement & drive in this new
organization of yours. (10 Marks)
Answer: as a CSR Head of ChhatrapatiShivajiMaharajInternational
Airport, I will implement following CSR Initiatives:
1.
Provision of Motorized Tricycles For Physically Challenged
Persons
Arrangement of
Motorized Tricycles for passengers that are physically challenged and for old
age people. This would make convenient to travel without hassle within the
Airport Premises.
2.
Relief and Rehabilitation - Uttarakhand Flood
Airports Authority of
India extended round-the-clock operations facility at Jolly Grant Airport in an
excellent coordination between AAI, State Government of Uttarakhand and the
Indian Air
3. One of United
Nations Sustainable Development Goal is ‘Zero Hunger’. The primary objective
behind this goal is to ensure availability & sustainable management of food
for all.
a. What according
to you are five compelling reasons behind the existence of Hunger issues in
India? (5 Marks)
Answer:
INTRODUCTION
Food insecurity and hunger cause many children to
become stunted (if not worse) due to malnutrition. As part of the
United Nations’ Sustainable Development Goals, Concern is working to eliminate
hunger and malnutrition by 2050. This would mean nearly 3 million lives changed
for the better.
India has a significant proportion of women and children who
are malnourished – the causes are manifold. From women being the last to eat in
the families (or not eating at all), to children having low birth weights when
they are born, to lack of knowledge on good feeding practices, to widespread
diarrhea which causes children to wither away, to poor sanitation that causes
disease and death.
While some of these can be addressed by NGOs, much of it has
to do with traditional norms and practices that we
b. Suggest five
strategies/action plan that can be adopted by businesses to make Zero Hunger an
achievable target in India in the coming years.
Answer:
INTRODUCTION
India is committed to inclusive growth and we cannot take
pride in inclusive growth if we cannot eliminate hunger. We have enough surplus
food, enough capacity to grow more food; at the same time many of our people in
the country go hungry due to inadequate logistics, information, knowledge, and
delivery systems. In eliminating hunger, Information Communication Technology
Infrastructure (ICT) can play a significant role. It is time to really use
technology in a very different way to handle problems related to hunger and
food waste. Expertise
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NMIMS September 2019
Information Systems for Managers
1. The Government of India has
planned to harness the benefits of the cloud and has undertaken the ambitious
initiative "GI Cloud" which has been named as "MeghRaj".
The aim of this initiative is to facilitate quick delivery of e-services in the
country to the citizens while optimizing ICT spending of the Government. This
will ensure optimum utilization of the infrastructure and speed up the
development and deployment of eGov applications. Meghraj will provide services
to the government departments, citizens and businesses through internet as well
as mobile connectivity. What are the expected benefits from this initiative to
the citizens? What could be the challenges in this initiative?
Answer: The name cloud computing was inspired by the cloud symbol
that's often used to represent the Internet in flowcharts and diagrams. A cloud
service has three distinct characteristics that differentiate it from
traditional hosting. It is sold on demand, “typically by the minute or the
hour; it is elastic -- a user can have as much or as little of a service as
they want at any given time;” and the service is fully managed by the provider
(the consumer needs nothing but a personal computer and an Internet access).
Significant innovations in virtualization and distributed computing, as well as
improved access to high-speed Internet and a weak economy, have accelerated
interest in cloud computing.
The Cloud in terms of computer networks and its associated
technology supports delivering resources such as computing and storage to
customers on demand. Rather than being a new technology in itself, the cloud is
a new business model wrapped around new technologies such as server
virtualization that take advantage of economies of scale and multi-tenancy to
reduce the cost of using information technology resources. One of the primary
uses of cloud computing is for data storage. With cloud storage, data is stored
on multiple third-party servers, rather than on the dedicated servers
2. The Indian Banking scenario has
undergone a radical change in the last two decades. While it was once necessary
to visit the branch to carry out various transactions, customers today have an
access to multiple platforms to conduct various transactions. Royal Bank of
India, a leading bank in India is facing several challenges with their existing
approach of systematically engaging with their customers and making the correct
product offering. As a result, it is failing to boost its revenues. In order to
address this challenge, the bank plans to use analytics to analyze customer
requirements and journey better. How in your opinion can Royal Bank of India
use analytics to engage better with customers by predicting their behaviour?
Answer: As banks face increasing pressure to stay profitable,
understanding customer needs and preferences becomes a critical success factor.
Modern organisations are rich with data. Owing to large-scale computerisation
efforts, almost all processes, activities, and interactions within the
organisation are available in accessible databases. This rich data environment
has spawned a variety of software applications that rely on the principles of
decision support systems (DSS) and enable organisations to change their competitive
strategy. Insights about these banking behavior can be uncovered through
multivariate descriptive analytics, as well as through predictive analytics,
such as the assignment of credit score. Banking analytics, or applications of
data mining in banking, can help improve how banks segment, target, acquire and
retain customers. Additionally,
3. A food-tech start-up plans to use
Enterprise Resource Planning (ERP) software to help automate all the tasks
within the organization. As the Chief Technology Officer (CTO) to this
start-up,
a. What factors will you consider
when you select the right ERP vendor for your start-up?
b. Would you select an open source
ERP software or an on premise solution for your implementation? Give
justification for your answer.
Answer: a) Once you obtain the list of potential vendors that
serve your requirement, perform the following process to select one from the
list of potential vendors:
• Find a good
reseller
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Management Theory and Practice
Internal Assignment Applicable for September 2019
Examination
1.
Mr. Rathi, a Tax consultant has
advised you to invest in property to save money in taxes. You have been paying
a lot of money through taxes, so you take his advice and now plan to buy a new
house for investment purpose. Explain various steps that you will go through in
making a decision for purchasing a new house. (10 Marks)
Answer:
INTRODUCTION
Buying and owning real estate is an exciting
investment strategy that can be both satisfying and lucrative. Unlike stock and
bond investors, prospective real estate owners can use leverage to buy a property by paying a portion of the total cost up front,
then paying off the balance, plus interest, over time. While a traditional
mortgage generally requires a 20% to 25% down payment, in some cases, a 5% down
payment is all it takes to purchase an entire property. This ability to control
the asset the moment papers are signed emboldens both real estate flippers and
landlords, who can in turn take out second
2. There are three models of decision making, explain the model
that will apt for purchasing a house. Explain the same with reason. Also,
suggest the reason for not accepting the remaining models for purchase of the
house. (10 Marks)
Answer:
INTRODUCTION
You will possibly agree that decision making is a
part of everyday life. Whether you are at a board meeting or in the
playground, you are almost constantly making decisions. Making decisions has
been identified as one of the primary responsibilities of any leader. Decisions
may involve allocating resources, appointing people, investing capital or
introducing new products. If resources like men, money, machines,
materials, time and. space were abundant, clearly any planning would be
unnecessary. But, typically, resources are scarce and so there is a need for
planning. Decision making is at the core of all planned activities. We can ill
afford to waste scarce resources by making too many wrong decisions or by
remaining indecisive for too long a time.
1.
Rational/
Classical
3.
a. As per Maslow’s need of hierarchy
model where do you stand in the model if you are:
Situation A: Purchasing the house for your personal stay and
usage. Situation B: Purchasing the house for investment purpose.
Explain the above given points with detail reasons.
Answer:
INTRODUCTION
The theory is that these needs follow each other in
succession and priority. The pyramid’s base is upon basic, physiological needs,
with the need to procure food and shelter on the bottom. Moving up the pyramid,
the next level is safety and security, followed by love and belonging and
self-esteem, topped with the pinnacle of self-actualization. The theory is that
once a person satisfies the initial needs, they move up the
pyramid to the next, in a bid for self-actualization.
Situation A: Obviously,
housing physically provides shelter, but it also satisfies the basic
psychological need for shelter. At the outset, this is what may spur a Buyer
into action initially. When you look at a Buyer’s housing wish list, it’s
unlikely to read “roof over my head” as item one,
b. As per Alderfer’s ERG Model where do you stand in the
model if you are:
Situation A: Purchasing the house for your personal stay and
usage. Situation B: Purchasing the house for investment purpose.
Explain the above given points with detail reasons.
Answer:
INTRODUCTION
The ERG theory is an extension of Maslow's hierarchy
of needs. Alderfer identified three categories of needs. Alderfer suggested
that needs could be classified into three categories, rather than five. These
three types of needs are existence, relatedness, and growth.
Existence needs
are the desires for material and physical well-being. These needs are satisfied
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NMIMS September 2019
Organisational behaviour
1. Rajesh and Karan are peers and
they are working as sales executive in a pharma company. While Rajesh loves his
work and find it very interesting but under same circumstances Karan detests
his job, also finds it to be very taxing. Select the best school of thought on
stress to explain that with the same working condition and same treatment why
Rajesh and Karan are feeling so differently.
Answer: Stress has been defined as a physical, mental or emotional
response to events which cause mental or bodily tension. In the modern day life
stress is a part and parcel of our lives. At the same time, it should not
exceed the capacity of an individual to handle it. If it exceeds in proportion
to a person’s abilities to cope with it, it would cause mental and physical
imbalance in the person. Therefore, a major challenge for every one today is to
make stress work for you as a productive force rather than as a deterrent which
can cause imbalance in an individual.
While handling a stressful situation, the brain signals the
release of stress hormones. These chemical substances in turn trigger a set of
responses that provides the body with extra energy: blood-sugar levels rise,
the heartbeat speeds up and blood pressure increases. The muscles tense for
action. The blood supply is diverted away from the gut to the extremities to
help the body deal with the situation at hand.
According to J. C Quick and J.D Quick "Stress, or the
stress response, is the unconscious preparation to fight or flee a person
experiences when faced with any demand".
According to Mikhail A "Stress refers to a
psychological and physiological state that results when certain
2. Sana is finding it very difficult
to make friends at her workplace. She stays aloof and does not bond with
anyone. Her performance is also not great. She proactively met a psychologist
to understand herself better. The facts which unraveled were associated with
her young age that she was raised by a caretaker who used to beat her from
infancy. Also no one supported her for the decisions she took. Sana’s family
never understood her and also her childhood friend betrayed. Imagine you are
Sana’s psychologist and hence need to explain her the Freudian Stages of
personality development and how it had impacted her. Conclude by giving your
suggestion to Sana to overcome this issue.
Answer: The word “personality‟ has been derived from the Latin
word per sona that means to speak through. The concept goes back
to the people of ancient Greece and Rome. During those days the public of Greece
and Rome entertained themselves through stage shows. The actors of the show
used to wear huge masks for representing their ideas very sharply. Thus, it was
treated as a way to influence people. From there the term personality got
evolved. Personality refers to individuals‟ personal traits that can be both
external and internal. It helps in differentiating between two individuals as
the individuals are unique, personal and a major determinant of
3. Sameer is working as Vice
President (IT) and Jatin is Advisor to the CEO. Sameer never arrives for any
meeting on time and also delays the work given to his team. He likes to make
people wait for him as he knows with the input of IT head the meeting would
never be successful.
Jatin on the other hand is very friendly
with the people and also makes ally with other heads and influential people in
order to get things done from Sameer. Whenever he discusses any topic with
Sameer he makes minutes of it and marks a copy to the CEO. All these activities
done makes sure that Sameer completes his work on time
Based on the above scenario, answer
these
a. What is the source of power for
Sameer? Discuss the same.
b. What are the power tactics being
used by Jatin? Explain
Answer: Sources of power:
Reward power: An individual who controls the
reward or rewarding system also has lot of influence on others. People are
willing to follow him because they expect to be rewarded. Rewards in
organizations may include pay rise, bonuses, promotions etc., although an
appreciative smile from Mother Theresa would outdo any such rewards! Reward
power is linked to the number and quality of rewards under the control of an
individual. Reward power can be used effectively by making feasible, ethical
and reasonable requests and also by offering only credible rewards.
Coercive power: This power is derived from the
ability to punish others. Such a power is legitimate and is needed by managers
to deal with unproductive, disturbing and anti-social elements in the
organization. In the movie Chak de India, Kabir Khan uses coercive power to
deal with players
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