Wednesday, April 30, 2014

MS - 51 Operations Research


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ASSIGNMENT
Course Code                      :               MS - 51
Course Title                       :               Operations Research    
Assignment Code            :               MS-51/TMA/SEM - I /2014
Coverage                             :               All Blocks

Note : Attempt all the questions and submit this assignment on or before 30th April, 2014 to the coordinator of your study center.


1. Explain computational aspect of simplex method for solving Linear Programming Problems (LPP). Take a problem and apply M- method for solving the LPP.

Answer : Simplex method is one of the techniques to solve linear programming problem. Decision making is the most important aspect of any business or industry.

Standard Form of Linear Programming
The main reason for using linear programming is to achieve the best allocation of some company resources. The allocation process involves assigning resources like manpower, money, machines, material etc., to specific activities in order to optimize the objectives. Linear programming helps in attaining the

2. Five employees of a company are to be assigned to five jobs, which can be done by any of them. The workers get different wages per hour. These are: Rs 5 per hour for A, B, and C each, and Rs 3 per hour for D and E each. The amount of time taken by each employee to do a given job is given in the following table. Determine the assignment pattern that (a) minimizes the total time taken, and (b) minimizes the total cost, of getting five units of work done.

Answer Step 1:  The given matrix is a square matrix and it is not necessary to add a dummy row/coloumn.

Step2: Reduce the matrix by selecting the smallest value in each row and subtracting from other values in that corresponding row. The

3. What is the importance of integer programming models in supporting managerial decisions? Describe the rationale behind Cutting Plane Method used for solving integer programming models. 

Answer :  Integer Programming
A linear programming problem in which all or some of the decision variables are constraint to assume non-negative integer values is called an integer programming problem. In integer programming some of the decision variables are required to take on integer values. An Integer Linear Programming Model, or Integer Optimization Model (notation: ILP-model) is a linear programming


4 . (a) Minicomputer Company purchases a component for which it has a steady usage of 1,000 units per year. The ordering cost is Rs. 50 per order. The estimated cost of money invested in inventory is 25 per cent per year. The unit cost of the component is Rs 40. Calculate the optimal ordering policy and total cost of the inventory system, including purchase cost of the components.           

(b) If, in this, the component supplier agrees to offer price discounts of minimum lot supplies as per schedule given, reassess the decision on the optimal ordering policy and the total cost as before.      

Lot size (Units)
Price per unit
Up to 149
Rs. 40
150-499
Rs. 39
500 or more
Rs. 38

Solution:
(a)   Here Demand
Ordering cost


5.  Explain why simulation may be the only method in situations where it will be extremely difficult to observe actual environment.

Answer : In certain cases, it might not be possible to formulate the entire problem or solve it through mathematical models. In such cases, simulation proves to be the most suitable method, which offers a near-optimal solution. Simulation is a reflection of a real system, representing the characteristics and behaviour within a given set of conditions. In simulation, the problem must be defined first. Secondly, the variables of the model are introduced with logical relationship among


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MS - 423 Marketing of Financial Services


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ASSIGNMENT
Course Code                      :               MS - 423
Course Title                       :               Marketing of Financial Services
Assignment Code            :               MS-423/TMA/SEM-I/2014
Coverage                             :               All Blocks

Note : Attempt all the questions and submit this assignment on or before 30th April , 2014  to   the coordinator of your study centre.


1. Describe the essential characteristics of financial services and explain how the differences between products and services affect the design of financial services?

Ans :  Essential characteristics of financial services :

Financial services refer to any transaction provided by financial institutions like banks. Financial services include loans, bank deposits, mutual funds, and stocks. The characteristics of financial services are that it should be customer-oriented and it should be adaptive to the changing economy.

With the advances in technology of the past two decades, the lives of people, including their financial lives, have evolved. The pace of living is faster, and so are the financial transactions that people make. Investments have become more

2. Explain the Marshallian and the Pavlovian, behavioural models and discuss the marketing applications of these models. 

Ans :  Marshallian Model :

This theory was first advanced by the economists. They gave formal explanation of buyer behaviour. According to this theory the consumers are assumed to be rational and conscious about economic calculations. They follow the law of marginal utility. An individual buyer seeks to spend his money on such goods which give maximum satisfaction (utility) according to his interests and at relative cost. The buying behaviour is determined by the income – its distribution and level - affects the purchasing power. The economic factors which affect the buyers behaviour are:




3.a) What is the concept of Product Life Cycle ?Discuss the application of this concept to marketing of banking products.

Ans : Concept of product life cycle :

The product life cycle is an important concept in marketing.  It describes the stages a product goes through from when it was first thought of until it finally is removed from the market. Not all products reach this final stage.  Some continue to grow and others rise and fall. All products, including financial ones, go through a lifecycle; however, the stages of a financial product lifecycle are slightly longer because they mirror the life stages of their users. Each investor tries to achieve the right mix of products in his



b) What are unique features related to delivery of banking services? Describe the various distribution channels for banking products.

Ans : Starting with the ’90s, retails banks have faced several challenges. One of them is how to
efficiently deliver their products and services to the customers. In fact, the most important  challenge of a bank is how to efficiently reach the customer, with the right product or service, at
the right time. Today, they can choose between branches, contact centers, ATMs, online channels, portals and web banks. Multichannel banking is,

4. a) Explain what do you understand by factoring ?Explain its mechanism and distinguish it from discounting of bills and forfaiting.

Ans : Factoring :

Factoring is a financial transaction in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount.

In "advance" factoring, the business owner sells his receivables in the form of invoice to the factor, who makes an advance of 70-85% of the purchase price of the receivable amount. The factor collects the full amount from the customer in due


b) Explain in detail the process of project appraisal. What are the new financial instruments used for project financing? Discuss.

Ans : Project appraisal :

Project appraisal is the process of assessing and questioning proposals before resources are committed. It is an essential tool for effective action in community renewal.  It’s a means by which partnerships can choose the best projects to

5.  a) Describe the various constituents of a mutual fund. Explain the working mechanism of an Asset Management Company.

Ans : Various constituents of a mutual fund :

Knowledge of the basic structure of a mutual fund helps investors in understanding their rights as well as the obligations of the fund. The legal structure of Indian mutual fund is unique and differs from that in the US and the UK. In the US, funds are set up as investment companies which could be a corporation, partnership or unit


b) What are pension funds? Explain how is fund management done in pension funds?

Ans : Pension funds :

A fund established by an employer to facilitate and organize the investment of employees' retirement funds contributed by the employer and employees. The pension fund is a common asset pool meant to generate stable growth over the long term, and provide pensions for employees when they reach the end of their working years and commence retirement.
Pooled-contributions from pension plans set up by employers, unions, or other organizations to provide for the employees' or members' retirement benefits. Pension funds are the largest investment blocks in most countries and
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MS – 05 Management of Machines and Materials


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MS – 05: Management of Machines and Materials



1. Explain in detail the framework of planning, organizing and controlling the decisions in production systems.  Give suitable examples to explain the framework.

Answer : A manager’s primary challenge is to solve problems creatively. While drawing from a variety of academic disciplines, and to help managers respond to the challenge of creative problem solving, principles of management have long been categorized into the four major functions of planning, organizing, leading, and controlling (the P-O-L-C framework). The four functions, summarized in the P-O-L-C figure, are actually highly integrated when carried out in the day-to-day realities of running an organization. Therefore, you should not get caught up in trying to analyze and understand a complete, clear rationale for


2.  Explain key issues that govern the selection of process in a manufacturing set up.

Answer : When a manufacturing company begins production of a new material, it has a choice as to the manufacturing process it uses. The type of process depends on the facility, the staff, and the information systems available. Each process has its advantages and some are best at certain tasks, for example, large batches of finished goods, or small numbers of custom items. When the decision is being considered of which manufacturing process to use, there are a number of questions that should be asked; what are the volumes to be


3.   What are the major techniques of work measurement? Discuss two important techniques with suitable examples.
Answer : Work Measurement Techniques

Image depicts different work measurement techniques, methods or types.

work measurement techniques


Work measurement techniques are listed below:


4.  Under what circumstances would you use PERT as opposed to CPM in project management? Give some example of projects where each would be more applicable than the other.

Answer : Project management has evolved as a new field with the development of two analytic techniques for planning, scheduling and controlling projects. These are the Critical Path Method (CPM) and the Project Evaluation and Review Technique (PERT). PERT and CPM are basically time-oriented methods in the sense that they both lead to the determination of a time schedule.



5.   Explain the basic concept of value engineering. Choose any product, system or procedure that you are conversant with and apply the value tests to find out if there is a scope for value improvement in it.

Answer : Value engineering is also known as value analysis. Value engineering is a systematic examination of factors affecting the cost of a product or a service in order to devise means of achieving the specified purpose at the required standard of quality and reliability of the target cost. The main aim of value engineering is to achieve a product's target cost,by:

* Identifying improved product designs that reduce the product's cost without sacrificing its functionality


6. Explain the following:

(i)  Wastivity Indices
Answer:





(ii) Taxonomy of waste   

Answer : Waste is classified by its source and by its properties. To further complicate matters, there are a number of terms in use which have no legal definition (e.g. difficult waste) and some which, although they are legally defined, are often used in a broader context (e.g. hazardous waste).

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Thursday, April 24, 2014

MS - 92 Management of Public Enterprises




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ASSIGNMENT
Course Code                      :               MS - 92
Course Title                       :               Management of Public Enterprises   
Assignment Code            :               MS-92/TMA/SEM - I/2014
Coverage                             :               All Blocks


Note : Attempt all the questions and submit this assignment on or before 30th April, 2014 to the coordinator of your study center.

1.            Briefly explain the rationale for the establishment of Public Enterprises in India with special reference to its development objectives.

Answer : Rational of Public Enterprises

Role and Rationale of Public Enterprises

The public sector has been playing a vital role in the economic development of the country. In fact the public sector has come to occupy such an important place in our economy that on its effective performance depends largely the achievement of the country's economic and social goals.

Public sector is considered a powerful engine of economic development and an important instrument of self-reliance.

The main contributions of public enterprises to the country's economy and the need for the establishment of public enterprises arises on account of the following reasons :

1. Planned economic development: The modern economy has inevitably to be a planned economy. The national responsibility of planning cannot be entrusted to any authority other than the Government. Need for planned development of the country has made it essential for the Government to establish and control business



2.            Discuss the various heads under which Public Enterprises audit is conducted by the Comptroller and Auditor - General of India.

Answer : As the most important instrument of accountability, the Comptroller and Auditor General of India has a dual role to perform as an agency to function on behalf of the Legislature to ensure that the executive complies with the various laws passed by the Legislature in letter and spirit, and secondly, on behalf of the Executive to ensure compliance by subordinate authorities with the rules and orders issued by it. The Comptroller and Auditor General of India, as the head of the Indian Audit and Accounts Department, is thus neither a part of the Legislature nor the Executive but is an officer created by the Constitution to see that diverse authorities act in regard to all financial matters in accordance with the Constitution and the laws and rules framed there under.




3.            What are the various causes of industrial sickness faced by public enterprises? Discuss taking example of any sick public enterprise of your choice.

 Answer : Industrial sickness especially in small-scale Industry has been always a demerit for the Indian economy, because more and more industries like – cotton, Jute, Sugar, Textile small steel and engineering industries are being affected by this sickness problem. Loss making industries, both in the private sector and public sector are contributing for the downfall of industrial economy.

There has been an increase in industrial sickness, both in the large and small sectors, in India. By consoling that this is, to some extent, a corollary of industrial growth, one shall not belittle the seriousness of the problem. Industrial sickness

4.            “A successful project requires a thorough control mechanism.” Discuss this statement using illustrations.

 Answer : The successful performance of a project depends on appropriate planning. The execution of a project is based on a robust project plan and can only be achieved through an effective schedule control methodology.  The development of a suitable Project Control system is an important part of the project management effort . Furthermore, it is widely recognised that planning and monitoring plays a major role as the cause of project failures. Despite the continuous evolution in the project management field, it appears evident that the traditional approach still shows a lack of utilisation of Project Controls and there have been a number of articles published to support the importance of control in the achievement of project objectives. It has been proved time and again that Project performance can be improved if dedicated Project Controls systems are in place.



5.            List out the strategic issues which arise out of disinvestment of public enterprises.

Answer : What is Disinvestment

Investment refers to conversion of money or cash into securities, debentures, bonds or any other claims on money. At the same time, disinvestment involves the conversion of money claims or securities into money or cash.

Disinvestment of Public sector undertakings

Disinvestment is a wider term extending from dilution of the stake of the government to a level where there is no change in the control to dilution that results in the transfer of management. The transfer of ownership may occur when in an



6.            Write short notes on the following:

a)            Navratna Dispensation

Answer : Navratna was the title given originally to 9 Public Sector Enterprises (PSEs) identified by the Government of India in 1997 as "public sector companies that have comparative advantages", giving them greater autonomy to compete in the global market so as to "support [them] in their drive to become global giants".




b)            Corporate Governance
Answer : Corporate governance refers to the system by which corporations are directed and controlled. The governance structure specifies the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders) and specifies the rules and procedures for making decisions in corporate affairs. Governance provides the structure through which corporations set and pursue their objectives, while reflecting the context of the social, regulatory and market environment. Governance is a mechanism for monitoring the actions, policies and decisions of corporations. Governance involves



c)            Collective Bargaining
Answer :  Collective bargaining is the process in which working people, through their unions, negotiate contracts with their employers to determine their terms of employment, including pay, benefits, hours, leave, job health and safety policies, ways to balance work and family and more. Collective bargaining is a way to solve workplace problems.

After the rights of public employees to collectively bargain for a middle-class life came under attack in 2010, working people in all kinds of jobs as well as students, community supporters, faith leaders and others united to defend this basic right.

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MS - 91 Advanced Strategic Management


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ASSIGNMENT

Course Code                      :               MS - 91
Course Title                       :             Advanced Strategic Management
Assignment Code            :               MS-91/TMA/SEM-I/2014
Coverage                             :               All Blocks

Note : Attempt all the questions and submit this assignment on or before 30th April , 2014  to   the coordinator of your study centre.    


Q1. What is the role of strategists in Corporate Management? Discuss with the help of some
real life examples.

Answer : Role of strategists in Corporate Management :

There are nine Strategists (TOP MANAGEMENT), who, as individuals or in groups are concerned with and play a role in strategic management their role in strategic management is explained below:-

(1) Role of Board of Directors :

The ultimate legal authority of an organisation vests in the board of directors. The owners of the organisation – shareholders, controlling agencies, government, financial institutions, holding company or the parent company-elect and appoint the directors on the board. The board is responsible to them for the governance of the organisation. As directors, the members of the board, are responsible for providing guidance and establishing the directives according to which the managers of the organisation can operate. The board exercises its authority according to the memorandum of association and articles of association of the company. Legally, they have to conform to the various provisions of the Companies Act, 1956. Apart from the legal framework, the board acts according to the policies, rules



Q2. Collect the material related to Starbucks. Analyze its strategies for global markets.

Answer : Starbucks :

Starbucks is a coffee chain company which started its business in Seattle which is situated in Washington, United States. Now, Starbucks is recognised as an International Organisation which is famous all over the world for its quality coffee. It has almost 16,120 stores in 49 different countries which makes it the largest coffee company in the world. Apart from coffee Starbucks serves snacks with soft drinks and also espresso based hot drinks. It has also started supplying some fancy items like coffee mugs with Starbucks logo on it. Later on with the brand name of Hear Music Starbucks entered into music division. It has also started


Q3. Discuss the recent development with respect to the code and laws of Corporate Governance in markets other than India.

Answer : Corporate governance refers to the system by which corporations are directed and controlled. The governance structure specifies the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders) and specifies the rules and procedures for making decisions in corporate affairs. Governance provides the structure through which corporations set and pursue their objectives, while reflecting the context of the social, regulatory and market environment. Governance is a mechanism for monitoring the actions, policies and decisions of corporations. Governance


Q4. Enlist the steps involved in developing R&D strategy and explain each one of them with the help of examples.

Answer : Perhaps no single issue today is higher on the agenda of senior management than improving innovation performance. Whether you operate in a technology intensive business like
pharmaceuticals or electronics, or a more traditional manufacturing sector like automobiles, company growth in a highly competitive world hinges on superior R&D performance. An R&D organization is like any other system: performance hinges on the coherence between the components. And, like any other system

Q5. ‘The new Companies Act 2013 urges the organizations to actively take up social causes, by making corporate social responsibility (CSR) statutory’. Elucidate the statement and its implications on the business integrated view of CSR.

Answer : Corporate Social Responsibility (CSR):

For a business to take responsibility for its actions, that business must be fully accountable. Social accounting, a concept describing the communication of social and environmental effects of a company's economic actions to particular interest groups within society and to society at large, is thus an important element of CSR.

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MS - 21 Social Processes and Behavioral Issues


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ASSIGNMENT
Course Code              :           MS - 21
Course Title               :           Social Processes and Behavioral Issues
Assignment Code      :           MS-21/TMA/SEM - 01 /2014
Coverage                    :           All Blocks



Note : Attempt all the questions and submit this assignment on or before 30th April, 2014 to the coordinator of your study center.

1.         Briefly discuss the challenges faced by organizations because of globalization and the strategies to deal with it. Give examples.
Answer : Challenges of globalization


Globalization poses four major challenges that will have to be addressed by governments, civil society, and other policy actors.

One is to ensure that the benefits of globalization extend to all countries. That will certainly not happen automatically.

The second is to deal with the fear that globalization leads to instability, which is particularly marked in the developing world.




2.         Describe the importance of understanding human behavior in organizations. Describe and discuss the characteristics of type A and B personalities and their impact on organizations performance with relevant examples.

Answer : importance of understanding human behavior in organizations.

“Some people have suggested that understanding human behavior is the single most important requirement for managerial success.”

Understanding human behavior, while one of the vital components of successfully managing an organization, is not the single most important requirement for managerial success. While it leads to better relationships, better collaboration among staff and other people in the organization, building a team that breeds creativity and productivity, there are other variables within and outside the organization that every manager must be technically equip to deal with.


3.         What are the salient features of counseling? Briefly discuss the process of counseling in organizations and its importance.

Answer : Characteristics of Effective Counseling

Effective counseling is a two way street. It takes a cooperative effort by both the person receiving counseling and the counselor. And it takes a commitment to make sometimes difficult changes in behavior or thinking patterns.

What you expect to achieve with your counselor should be clearly defined as you begin your counseling. You and your counselor should discuss realistic time frames for reaching your goals and agree on how you will measure your


4.         Describe the growing role of Teams in organizations and how leader plays an important role in Teams. Discuss the effectiveness and sustenance of Teams.

Answer : Henry Ford once said: “Coming together is a beginning. Keeping together is progress. Working together is success." The same holds true in the 21st century. In a constantly changing, interconnected, global economy, teams and teamwork play a critical role in organizational success. Companies that value and understand teamwork can accomplish more than a single person, no matter how educated, experienced or trained he may be.


5.         Describe and discuss different attributes of work culture and their significance. Discuss how culture plays on important role in the performance of organization. Give relevant examples.  
Answer : Attributes of work culture

People Shape the Culture. Personalities and experiences of employees create the culture of an organization. For example, if most of the people in an organization are very outgoing, the culture is likely to be open and sociable. If many artifacts depicting the company’s history and values are in evidence throughout the company, people value their history and culture.

If doors are open, and few closed door meetings are held, the culture is unguarded. If negativity about supervision and the company is widespread and complained about by employees, a culture of negativity, that is
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