Internal Assignment Applicable for April
2020 (last date 28 March 2020) Examination
1. Explain the types of Alternate
Dispute Resolution Mechanisms and differentiate between them?
Answer: Dispute involves the struggle of a person with another
person, or a thing or a situation. It is a problem or disagreement, a situation
that needs resolution. Every employee faces an issue of conflict at work.
Disputes can be resolved if dealt the right way. Dispute resolution is the
process of finding a solution to a Dispute. Resolving disputes effectively
creates more understanding among those involved in dispute, increases team
work, as members develop stronger bonds., It also increases mutual respect, and
improves self-knowledge as conflict is a testing time, when the members can
examine themselves. On the other hand, if disputes are not effectively
resolved, its results will be damaging. If team members have conflicting goals
and no solution is attained, it can break the team. Employees with conflicting
goals ultimately start disliking one another on a personal level. Disputes
within the workplace that are not effectively and timely resolved, affect the
organisation in
2. Explain in details two (2) real-life
instances where the consumer courts in India have granted compensation due to
medical negligence. Please explain the facts of the case and respective
decision of the consumer courts.
Answer: As a consumer, we spend our hard earned money wisely according
to our needs. As a common man we cannot do much about our exploitation or if
some unethical activities are there. Just to protect consumer against any wrong
doings, Government introduced Consumer protection act in 1986.
According to the Consumer protection
act, 1986, following are the Rights of consumers
⮚
Right to safety: The right to be
protected against the marketing of goods and services that are hazardous to
life and property.
⮚
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.
⮚
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
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2. Spring Meadows Hospital and
another v Harjol Ahluwalia through K.S. Ahluwalia and Another [(1998) 4 SCC 39]
In this complaint of the minor child through his parents
before the National Commission, it was contended that the child was admitted to
the appellant hospital as in-patient with diagnosis of typhoid. The nurse asked
the child's father to purchase the injection Inj. Lariago recommended by the
Senior Paediatrician to be administered intravenously. When the nurse
administered the injection, the child collapsed immediately. The resident
doctor found that the child had suffered cardiac arrest and he attempted to
resuscitate the child by manual pumping. After half an hour, the Anaesthetist
also reached the scene and started the procedure of manual respiration and the
Senior Paediatrician also followed but here was no improvement in the child'
condition.
On advice, the child was shifted to the All India Institute
of Medical sciences (AIIMS). The doctors at the AIIMS informed the parents that
the child was in a critical condition and even if he survived he would live
only in a vegetative state having suffered irreparable damage to the brain.
Sometime later, the child was discharged and again admitted to the appellant
hospital. Based on the evidence, the commission
3. Ria and Mia are two adult
sisters. Ria is the elder sister and Mia the younger one. Both the sisters were
orphan but had huge properties bequeathed to them by their now deceased
parents. Mia first got married to Ravi whereupon Ria started living in the same
residence with Ravi and Mia together. Ria met with an accident and lost both
her legs, Ravi and Mia started taking great care of her even using their
savings to bear medical expenses of Ria. Ria after 2 years thereon decided to
gift all her share of the properties to Mia. After 5 years, Mia then conceived
a child and found it difficult to take care of Ria. She requested Ria to go to
a hospice, where she could be taken care of. Ria angered by this refused to do
so and started living separately with a maid, she demanded that the gift of the
properties made by her to Mia should be cancelled. Mia refused to do so. Assuming
you are the judge of the civil court hearing the matter, can you decide on the
following questions:
a. Whether the gift of properties by
Ria to Mia is valid? Whether Ria can oppose and seek for cancellation of the
gift? If yes on what grounds under Contract Act, 1872?
b. Can Mia claim from Ria the
expenses undertaken by her for Ria’s medical expenses? Explain with legal
provisions in Contract Act, 1872?
Answer: a) Indian Contract Act really codifies the way we enter
into a contract, carry out a contract, and put into practice the requirements
of a contract and the consequences of breaking a contract. Essentially, a
person is free to get into a contract on any terms he/she chooses. The Contract
Act consists of restraining factors subject to which contract may be entered
into, executed and breach enforced. It only provides a skeleton of set of laws
and regulations, which govern formation, and performance of contract. The
contracting parties themselves determine the rights and duties of parties and
terms of agreement. The court of law acts as a watchdog to enforce agreement,
in case of non-
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Course: Business Statistics
Internal Assignment Applicable for April
2020 (last date 28 March 2020)
Examination
|
Mfr 1 - life of bulf
(in hrs)
|
Mfr 2 - life of bulf
(in hrs)
|
|
684
|
819
|
|
831
|
907
|
|
859
|
952
|
|
893
|
994
|
|
922
|
1016
|
|
939
|
1038
|
|
972
|
1096
|
|
1016
|
1153
|
|
697
|
836
|
|
835
|
912
|
|
860
|
959
|
|
899
|
1004
|
|
924
|
1018
|
|
943
|
1072
|
|
977
|
1100
|
|
1041
|
1154
|
|
720
|
888
|
|
848
|
918
|
|
868
|
962
|
|
905
|
1005
|
1. A sample of 20 bulbs each was
picked from the manufacturing facility of two bulb manufacturers – Mfr 1 and
Mfr 2. The table above provides the life of bulbs for the two manufacturers.
You are a quality testing person and are presented with this data:
i. Which manufacturer has better
performance on the life of bulbs? What are the different measures you can
consider to calculate performance?
ii. How would you assess the
variability in performance of the two bulb manufacturers?
iii. Would your answer to the first
question change based on your assessment of the variability in performance of
bulb manufacturers?
Answer: (i) To measure the performance of bulbs in terms of life,
we need to calculate the arithmetic mean and median and decide accordingly.
Calculation of mean
Mean:
|
Mfr 1 - life of bulf
(in hrs)
|
Mfr 2 - life of bulf
(in hrs)
|
|
684
|
819
|
|
831
|
907
|
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2. For the data in the table below:
i. What do the correlation
coefficients of 1, shaded in yellow, indicate?
ii. The highest correlation
coefficient is 0.84, shaded in green. What can you infer from that score about
the relationship between the two variables?
iii. The two lowest correlation
coefficients are 0.06 and -0.06. What can you infer from that score about the
relationship between the two variables?
|
r correlation
coefficient
|
Assets
|
Expense
Ratio
|
Return
2006
|
3-Year
Return
|
5-Year
Return
|
|
Assets
|
1
|
|
|
|
|
|
Expense Ratio
|
-0.29
|
1.00
|
|
|
|
|
Return
|
0.08
|
-0.13
|
1.00
|
|
|
|
3-Year Return
|
0.07
|
-0.11
|
0.70
|
1.00
|
|
|
5-Year Return
|
0.06
|
-0.06
|
0.59
|
0.84
|
1.00
|
Answer: Correlation
When two or more variables move in sympathy with other, then
they are said to be correlated. If both variables move in the same direction
then they are said to be positively correlated. If the variables move in
opposite direction then they are said to be negatively correlated. If they move
haphazardly then there is no correlation between them. Correlation analysis
deals with the following.
●
Measuring the relationship between variables.
●
Testing the relationship for its significance.
●
Giving confidence interval for population correlation measure.
Causation and
3. The Indian cricket team is
visiting New Zealand to play a test series comprising five matches. In each
match, assume that the Indian team has a 70% chance of winning. Further,
assuming that the matches are independent of each other, what is the
probability that:
a. The Indian team will win the
series?
b. The team will win all five
matches, and that the team will lose all?
Answer: There are 5 matches
Therefore, n = 5
Probability of winning of Indian team = 0.70
Therefore, p = 0.70
Let X be the
Course: Financial accounting and
analysis
Internal Assignment Applicable for April
2020 (last date 28 March 2020)
Examination
1. Ind AS norms are converged with
the International Financial Reporting Standards, but these are not equivalent
to IFRS. Further, there are key differences between the requirements of INDIAN
GAAP, IFRS and Ind AS. Discuss five key differences among these reporting standards.
Answer: IND-AS
It is a selected set of accounting policies or broad
guidelines regarding the principles and methods to be chosen out of several
alternatives. Standards adhere to certain laws, customs, usage and business
environment in which it operates. The basic purpose of accounting standards is
to harmonize the diverse accounting policies and practices that are currently
used in India. The adoption of accounting standards ensures uniformity,
comparability and qualitative improvement in the preparation and presentation
of financial statement. Accounting standards facilitates more disclosure of
financial information that is beyond the statutory limits.
IND AS stands for Indian Accounting standards and is
converged standards for International Financial Reporting standards (IFRS). In
simple terms, Indian accounting standards came into existence to meet the
requirements of IFRS. The Government of India in consultation with ICAI decided
to converge and not to adopt IFRS issued by the International Accounting
standards Board (IASB). Indian Accounting Standards (IND AS) were issued by
Central Government of India
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2. Mehra & Sons purchased a
second hand light motor Vehicle at a cost of Rs 2 lacs. Additionally, various
accessories costing Rs50000 were also purchased along with the Vehicles which
are required to be replaced on a yearly basis. Mr. Mehra wants to write off the
overall outflow in Income statement Discuss, whether he is correct or not?
Discuss the need to differentiate between the capital and revenue items? How
these items are to be treated in the financials of the company? Give reasons
supporting the same
Answer: Definition of
Capital Expenditure
When any company buy any long term asset so amount spent on
that asset is called capital expenditure. The purpose is to enhance the working
capacity of any existing capital asset, or to increase its lifespan to generate
future cash flows or to decrease the cost of production. As a huge amount is
spent on it, the expenditure is capitalised, i.e. the amount of expenditure is
spread over the remaining useful life of the asset.
In a nutshell, the expenditure which is done for initiate
current, as well as the future economic benefit, is capital expenditure. It is
a long-term investment done by the entity, in the name of assets, to create
financial gain for the years to come. For example – Purchase of Machinery or
installation of
3. a. All India Insurance Company
received an insurance premium of Rs 50 lacs on an insurance policy whose
coverage extends till the mid of the next accounting year.
3. b. Additionally, the company has
a monthly salary expense of Rs 25 lacs. For the accounting year ended on March
31, 2019 the company paid 275 lacs on account of salary. The salary for the
month end is paid in the first week of April 2019.
Discuss the treatment of both of
these payments in the books and disclosures in the financial statements, as on
31st March 2020
Answer: a) Unearned revenue is money received from a customer for
work that has not yet been performed. This is advantageous from a cash flow
perspective for the seller, who now has the cash to perform the required
services. Unearned revenue is a liability for the recipient of the payment, so
the initial entry is a debit to the cash account and a credit to the unearned
revenue account.
As a company earns the revenue, it reduces the balance in
the unearned revenue account (with a debit) and increases the balance in the
revenue account (with a credit). The unearned revenue account is usually
classified as a current liability on the balance sheet.
If a company were not to deal with unearned revenue in this
manner, and instead recognize it all at once, revenues and profits would
initially be overstated, and then understated for the additional periods during
which the revenues and profits should have been recognized. This is also a
violation of the matching principle, since revenues are being recognized at
once, while related expenses are not being
Course: MARKETING MANAGEMENT
Internal Assignment Applicable for April
2020 (last date 28 March 2020) Examination
Dolls, Cars, activity kits, board
games are toys liked by kids. M/s Wonderkids, a company that has multiple
businesses has been eying the opportunity to target kids with various toys. The
company has launched a doll with the name “Pari” and a car with the name
“Speedy”. The company plans to distribute the products across the country. The
doll “Pari” is available in the range of Rupees 400 – 600 whereas the speedy
car is available in the range of Rupees 350 -550. The company plans to target
B2B customers by selling bulk quantity to kids based park, play groups. The
company has just launched the product and it has hired you to handle the
marketing activities of the new launched products.
1. Explain various ways to segment
consumer market.
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 them to 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 to segment 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 would justify developing and maintaining a marketing programme.
5. It must be possible to reach the target segment
effectively. For instance, in some rural areas in India, there are no media
that can be used to reach the targeted groups. It is also possible that paucity
of funds prohibits
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2. What is the distribution channel
that you will use to distribute the product across Indian market? Explain the
same with reason.
Answer: Every marketing activity starts and ends with the
customer. The customer is the ultimate target for a marketer. The availability
of the product in the market depends on the efficacy of the distribution
channel. Therefore, the distribution channel plays a significant role in the
marketing activities. The success of a company’s marketing effort depends upon
its command on the distribution network. The company can reach customers either
directly through its own sales force (called direct marketing) or through a set
of intermediaries and channel members (called indirect marketing).
The channels of distribution perform
the following functions:
a. They facilitate the physical movement of goods from the
point of production to the point of consumption.
b. They undertake storage of goods.
c. They transfer or help in the transfer of title
3. a. Who will you select as a brand
ambassador for “Pari” and “Speedy”? Explain the same with reason.
3. b. Explain various types of
consumer products and state which type of consumer product is “Pari” and
“Speedy”?
Answer: a) Brand ambassadors play a major role in the marketing of
a particular brand, service or product. Brand ambassadors are the main reasons
for many people to buy the endorsed products. Brand ambassador is the first
person who believes in your brand and agrees to endorse it using his/her
expertise, experience, knowledge, skills etc. If they don’t believe in the
brand, there is very little they can do at the core and cry of being authentic
in this age. Brand ambassadors represent the brand whenever they can and wherever
they find themselves. It is the duty of brand ambassadors to make the product
likeable, more interesting and different from others. They convince the
consumers to trust the brand.
There are two products offered by the company i.
Course: Strategic Management
Internal Assignment Applicable for April
2020 (last date 28 March 2020) Examination
1. You are the owner of a
multi-million-dollar Retail business in India. Since the past 5 years, your
financial reports are showcasing a consistent drop in revenues & have
entered into a loss-making position. Your market share is also falling &
your organization is now believed to be in a weak market position. Which set of
corporate strategies will you explore? Finalize the corporate strategy you
would finally choose & how will you execute the plan?
Answer: Corporate strategy can be defined as the efforts of an
organization, in terms of scope and direction and the functioning of different
processes within an organization in order to achieve certain goals and objectives.
In simple terms, corporate strategy can be explained by the Johnson, Scholes
and Whittington model where strategic options are analyzed through three
criteria, namely:
Suitability: Would it work?
Feasibility: Can it be made to work?
Acceptability: Will they make it work?
Johnson and Scholes define
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2. As the Chief Strategy Officer of
Kia Motors & having entered India recently, you have to decide on a
Strategy Implementation tactic to take on the fiercely contested automobile car
market space in India. Which Market Location tactic would you plan to choose to
take on other automotive rivals in this space? Justify with reasons?
Answer: Strategic management is an important part of a business.
It helps an organization in attaining desired goals. It involves
identification, selection and implementation of those activities that can
enhance the long-term performance of an organization. Strategic management
comprises activities aimed at efficient and effective utilization of resources
so that desired goals are achieved.
While deciding the future plan of action for the
organization, managers have a variety of options open before them. So, their
decisions give direction to the organization and an identity to its future
prospects. Strategic management involves identification, selection and
implementation of such activities that enhance the long-term performance of an
organization. This is done by setting the direction of the organization for the
future and by creating a continuous process of compatibility between the
3. You are the Head-Manufacturing of
Godrej Industries. You are planning to set up a brand-new Manufacturing plant
at a village in rural Maharashtra.
a. Perform a Stakeholder analysis
& suggest which all stakeholders will be taken into confidence & also
what would be your communications approach plan to bring them into your point
of view?
b. Highlight some of the creative
& innovative initiatives that you would undertake to convince the
stakeholders that you mean good for all the stakeholders.
Answer: a) The organization is influenced by a number of factors
including the stakeholders’ expectations. Some strategies designed by the
management may not be approved by the stakeholders. If the stakeholders are
more powerful, they will influence the management’s strategy and even modify it
to suit them. In case the management is more powerful, their strategy will
ultimately be accepted by one and all. Another factor that influences the
organization strategy is the culture followed within the organization as well
as by the world outside. The strategic position of an organization can be
evaluated and determined by the combined influence of its own capability as
well as the political,
Course: Essentials of HRM
Internal Assignment Applicable for April
2020 (last date 28 March 2020)
Examination
1. There is a lot of prominence
given to the fact that the processes like HR audit and HR accounting can only
be successful if accurate HR information is available. Throw light to
authenticate this statement with proper explanation on needs and application of
HRIS in relation to retention strategy & performance appraisal. Also,
conclude by emphasizing the significance of HRIS in today’s era.
Answer: I do agree with the statement that HR audit and HR
accounting can only be successful if accurate HR information is available.
Human resource information system will be helpful in this respect and solve the
said purpose. An information system especially developed for the human resource
management function is called an HRIS–Human Resource Information System. HRIS
has become one of the most important tools for many businesses. Even a small,
20-person office needs to realise the benefits of using HRIS to be more
efficient. Many firms do not realise how much time and money they are spending
on manual Human Resource Management (HRM) tasks until they sit down and take
inventory of their time. HRIS is advancing using Information Technology (IT).
It allows companies to cut costs and offer more information to employees in a
faster and more efficient way. Especially in difficult economic times, it is
critical for companies to become more efficient in every sector of their
business and Human Resource (HR) is no exception.
HRIS refers to software packages
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2. Often it is noticed that
employees do not find their performance evaluation quite a progressive
experience. Adding to the misery is a fact that most managers will avoid
discussing performance issues related to behaviour. It’s more about discussing
concrete job responsibilities, skills and goals. There may be a grave concern
that is never brought up because the manager is afraid of the reaction or may
lack the ability to translate it into the right words. Keeping in view the
above scenario/ situation discuss any two performance appraisal methods where
feedback to the employee is essential and can help resolve such problems.
Answer: Performance appraisal is the process of obtaining,
analysing and recording information about the relative worth of an employee.
The focus of the performance appraisal is measuring and improving the actual
performance and also the future potential of the employee. Its aim is to
measure what an employee does. According to E. B. Flippo, "performance
appraisal is the systematic, periodic and an impartial rating of an employee’s
excellence in the matters pertaining to his present job and his potential for a
better job." Performance appraisal is a systematic way of reviewing and
assessing the performance of an employee during a given period of time and
planning for the future as well.
It is a method of evaluating the behaviour of employees in a
work place in both quantitative and qualitative aspects of job performance. It
is a process which involves determining and communicating to an employee how
their performance has been and ideally, establishing a plan for further
improvement. In other
3. Rachel joined Shimmer Net a
software company as program developer. On the very first day of her joining she
was handed over some literature and asked to take notes as well as cues from it
which can be utilized at her work. Learning the job role and responsibilities
by herself was becoming quite a task so she went to her peers for help when
needed. It was seen that her peers started avoiding her as they had their own
work and Rachel’s queries were disturbing them. Rachel was in crossroads and
sad hence resigned from her work within two months of joining. The HR
department analyzed and came to a conclusion that the prominent reason is lack
of induction.
a. What innovative approach should
the HR department come up with in terms of Induction? Discuss
b. Explain the purpose of induction
that how things could have been different for Rachel if the organisation followed
a proper induction pattern.
Answer: a) An induction program is a very important step when new
employees join an organisation. It provides an introduction to the working
environment and the role of the employee in the organisation. Induction covers
the employer and employee rights and, the terms and conditions of employment.
An induction program definitely covers any legal and compliance requirements of
the organization. Also it definitely tells employees about the health and
safety precautions to be taken in certain situations.
Innovative approach for induction
The duration of the induction program differs from
organisation to organisation and depends on the type of position of the new
employee. Most induction programs take about a week. However, the training can
go up to a month or three also. The essential thing to remember is not to
create ‘information overload’. If possible some background information about
the organisation should be conveyed to the employee prior to the
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