MS - 07 Information Systems for Managers

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ASSIGNMENT

Course Code                      :               MS - 07

Course Title                       :               Information Systems for Managers   

Assignment Code            :               MS-07/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.

Q.1. What is the purpose of a computer aided decision support system? What are the major components of such a system? How does it help the decision making process?

Ans : Purpose of a computer aided decision support system :

A Decision Support System (DSS) is a computer-based information system that supports business or organizational decision-making activities. DSSs serve the management, operations, and planning levels of an organization (usually mid and higher management) and help to make decisions, which may be rapidly changing and not easily specified in advance (Unstructured and Semi-Structured decision problems). Decision support systems can be either fully computerized, human or a combination of both. While academics have perceived DSS as a tool to support decision making process, DSS users see DSS as a tool to facilitate organizational processes. Some authors have extended the definition of DSS to include any system that might support decision making. Sprague (1980) defines DSS by its characteristics:

1. DSS tends to be aimed at the less well structured, underspecified problem that upper level managers typically face;
2. DSS attempts to combine the use of models or analytic techniques with traditional data access and retrieval functions;

Q.2. What are the determinants of MIS design according to Zani? Explain the following statement, “there is a two way relationship between organization and Information Systems”.

Ans :  Determinants of MIS design :

An MIS should not automate the existing procedures. MIS should act as a catalyst of change in the processes of an organization. For instance, a private bank sanctions loans by using a sequential process. An applicant applies for a loan, the details provided by him are verified, and his application details are entered into the bank application format along with his credit limit. The computer application is then passed on to the loan sanctioning authority. The process takes two weeks time even though the staff spends about thirty minutes on the application. A workflow system should not automate the existing process. It should aim to reduce the application processing time to less than a week. The present workflow systems let everyone look at the application simultaneously and each concerned person adds his feedback. The sequential process has been changed to a parallel process. The total time has comedown to less than a week.

According to Zani, the important determinants of MIS design are:

1)Opportunities and risks

2)Company strategy

3)Company structure

Q.3.What is computerized maintenance management? Explain the conceptual model through which the maintenance function can achieve its objectives on a sustained .

Ans : Computerized Maintenance Management System (CMMS) – Maintenance 4000 Maintenance4000 from Real Asset Management International (RAMI) is a   (CMMS) used to track maintenance and repairs for all asset types. Designed to manage planned and preventative maintenance and reduce equipment downtime, Maintenance4000 increases productivity and controls and reports on all planned and unplanned maintenance related to fixed assets and inventory items.

Q.4. In which phase of system life cycle the following are performed? Defining the problem, indentifying its causes, specifying the solution, and identifying the information requirements.

Ans :

The system lifecycle in systems engineering is an examination of a system or proposed system that addresses all phases of its existence to include system conception, design and development, production and/or construction, distribution, operation, maintenance and support, retirement, phase-out and disposal.

A systems development life cycle is composed of a number of clearly defined and distinct work phases which are used by systems engineers and systems developers to plan for, design, build, test, and deliver information systems. Like anything that is manufactured on an assembly line, an SDLC aims to produce high quality systems that meet

Q. 5. What are expert systems? Mention the working principles of expert systems. Also discuss how knowledge can be represented in expert systems.

Ans : Expert systems :

In artificial intelligence, an expert system is a computer system that emulates the decision-making ability of a human expert. Expert systems are designed to solve complex problems by reasoning about knowledge, represented primarily as IF-THEN rules rather than through conventional procedural code. The first expert systems were created in the 1970s and then proliferated in the 1980s. Expert systems were among the first truly successful forms of AI software.

An expert system is divided into two sub-systems: the inference engine and the knowledge base. The knowledge base represents facts and rules. The inference engine applies the rules to the known facts to deduce new facts. Inference engines can also include explanation and debugging capabilities.

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MS - 04 Accounting and Finance for Managers

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ASSIGNMENT

Course Code                      :               MS - 04

Course Title                       :               Accounting and Finance for Managers

Assignment Code            :               MS-10/TMA/SEM - II/2013

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.

Q.1. a) Distinguish between Revenue expenditure and Capital expenditure. How are they

treated while preparing the final accounts? If by mistake the accountant of a firm treats a capital expenditure as revenue expenditure, how will it affect the final accounts of the firm? Give an example.

Ans :  Revenue expenditure and Capital expenditure :

Capital Expenditure

Capital expenditure includes costs incurred on the acquisition of a fixed asset and any subsequent expenditure that increases the earning capacity of an existing fixed asset.

The cost of acquisition not only includes the cost of purchases but also any additional costs incurred in bringing the fixed asset into its present location and condition (e.g. delivery costs).

Capital expenditure, as opposed to revenue expenditure, is generally of a one-off kind and its benefit is derived over several accounting periods. Capital Expenditure may include the following:

• Purchase costs (less any discount received)
• Delivery costs
• Legal charges
• Installation costs

b) Why is depreciation charged? Explain the two methods of charging depreciation. In which method the value of the asset is reduced to zero earlier. Which one is more rational? Explain why?

Ans :  The Need for depreciation arises for the following reasons:

1. Ascertainment of True Profit or Loss:

Depreciation is a loss. So Unless it is considered like all other expenses and losses, true profit or loss cannot be ascertained. In other words, depreciation must be considered in order to into out true profit or loss of a business.

2. Ascertainment of True Cost of Production:

Goods are produced with the help of plant and machinery which incurs depreciation in the process of production.

3. True Valuation of Assets:

Q.2. What is meant by appropriate capital structure? Discuss the determinants and features of an appropriate capital structure for a corporate body.

Ans : Appropriate Capital structure:

It represents the total long-term investment in a business firm. It includes funds raised through ordinary and preference shares, bonds, debentures, term loans from financial institutions, etc. Any earned revenue and capital surpluses are included.

Capital Structure Planning and features :

Decision regarding what type of capital structure a company should have is of critical importance because of its potential impact on profitability and solvency. The small companies often do not plan their capital structure. The capital structure is allowed to develop without any formal planning. These companies may do well in the short-run, however, sooner or later they face considerable difficulties. The unplanned capital structure does not permit an economical use of funds for the company. A company should therefore plan

Q.3. Explain the important determinants of the Working Capital needs of a firm. Can two firms with different Working Capital achieve the same amount of sales? If so, explain how.

Ans : Determinants of working capital :

1. Small or Large Business

It is the first determinant of working capital that it is affected with the nature of business. Business may be small or large. In small business, company need high working capital because, small business is relating to trading of goods, for starting small business, you need very small fixed capital but need high working capital for paying day to day expenses. But in large business, we require more fixed capital than working capital for purchasing fixed asset.

2. Small or Large Demand

Nature of demand also absolutely affects the working capital need. Some product can be easily sold by businessman, in that business; you need small

Q.4.  a) What do you understand by Budgetary Control? How is it exercised? What steps should be taken for installing a Budgetary Control System in an organization? Discuss.

Ans : Budgetary control system:

No system of planning can be successful without having an effective and efficient system of control. Budgeting is closely connected with control. The exercise of control in the organisation with the help of budgets is known as budgetary control. The process of budgetary control includes

(i) Preparation of various budgets

(ii) Continuous comparison of actual performance with budgetary performance and

(iii) Revision of budgets in the light of changed circumstances.

A system of budgetary control should not become rigid. There should be enough scope for flexibility to provide for individual initiative and drive.

Installing A Budgetary Control System:

b) What is Rolling Budget? How does it differ from flexible Budget? What purpose do these budgets serve?

Ans : Rolling budget :

A rolling budget is also known as a continuous budget, a perpetual budget, or a rolling horizon budget. We will use the following example to explain the meaning of a rolling budget. Let's assume that a company's accounting year ends on each December 31. Prior to the start of the year 2013, the company prepares its annual budget which is detailed by month for January through December 2013. This budget could become a rolling budget if after January 2013 the company drops the budget for January 2013 and adds the budget for January 2014. This rolling budget now covers the one year, or 12-month, period of February 1, 2013 through January 31, 2014. At the end of February 2013, the rolling budget will drop February 2013 and will add February 2014. At this point the rolling budget will cover the one year period of March 1, 2013 through February 29, 2014.

                                                                                   

Flexible budget:

A budget may be defined as a quantitative expression of a business plan for a specified future period, usually a year. It is simply a financial forecast for a future period. A budget is a short-term financial plan. It is an action plan to guide managers in achieving the objectives of a firm. A budget is a comprehensive and coordinate plan, expressed in financial terms, for the operations and resources of an enterprise for some specific period in the future.

The Flexible budget is designed to change in accordance with the level of activity attained. Thus, when a budget is prepared in such a manner that the budgeted cost for any level of activity is available, it is termed as flexible budget.

Purpose of rolling budget :

1. Flexibility:

The rolling budget incorporates changes from the previous period into the next, overlapping period, increasing continuity and oversight. Rolling budgets, therefore, are more up-to-date than a static budget, which does not consider the changes taking place during a forecast period.

2. Responsiveness :

Rolling budgets help you to be more responsive to unexpected changes in your circumstances and allow you to make adjustments for those changes in coming periods. You won't have to wait until the entire budget period ends to take account of changes.

3. Administration :

A disadvantage of a rolling budget is that it is similar to preparing a new budget again and again. Such a budget requires you to regularly gather the facts from the previous period. Furthermore, rolling budgets require robust information systems and skilled personnel to extract accurate information for the various subcategories.

4. Justification :

Preparation of rolling budgets is not advisable when the circumstances or conditions are not constantly changing. It may be a waste of your time and resources to prepare rolling budgets in unvarying environments. If your business is not exposed to extremely varying elements of commerce or the greater economy, a rolling budget will be an unwise choice.

Purpose of flexible budget :

1. Adjustment for Predictions :

When you prepare a static or fixed budget, you assume that you can predetermine sales and production quantities. Because of various factors beyond your control, however, these numbers hardly turn out to be as predicted.

2. Adapting Change :

The business environment around you changes rapidly; therefore, you must adapt to these changes to make your business a success story.

3. Control and Evaluation :

If you find a change in your sales or production volume, you can reorganize your fund allocation based on changed circumstances.

4. Inflation and Variance :

It’s likely that you’ll face variations in the cost of materials, selling price, wages and production overhead. You need to take care of these variations and make necessary adjustments.

Q,5. Following are the balance sheets of a limited company as on 31st December, 2000 and 2001.

Liabilities	2000 rs	2001 rs	Assests	2000 rs	2001 rs
Share Capital	54000	74000	Goodwill	3000	2520
Reserves	13000	15500	Buildings	50950	48000
P. & L. A/c	8600	8800	Plant	35000	43000
Bank Loan (Long-term)	25000	-	Stock	25500	18800
Creditors	28000	24000	Debtors	22000	16200
Bills Payable	8000	8500	Cash	150	180
			Bank	-	2100
	1,36,600	1,30,800		1,36,600	1,30,800

Taking into account the following additional information, you are required to prepare funds flow statement and statement of change in working capital.

(a) Dividend paid was Rs. 6,000.

(b) Rs. 3,600 was written off as depreciation on plant and Rs. 2,950 on buildings.

(c) Profit on sale of plant was Rs. 3,000.

Ans :    Profit and loss adjustment account :

To transfer to general reserve        (15500 – 13000)	2500	By bal b/d	8600
To Dividend	6000	By profit on sale of plant	3000

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MS - 01Management Functions and Behaviour

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ASSIGNMENT

Course Code                      :               MS - 01

Course Title                       :               Management Functions and Behaviour

Assignment Code            :               MS- 01/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.    

Q.1.“Hiring good people is still a relatively simple task as compared to the task of retaining them. People may join a company because of its favorable image but will stay on only if they find appreciation for, and satisfaction from, their work.”

Elaborate this statement underlying the role of a manager in the process. Explain with example from you own experience or the one you are familiar with. Briefly describe the organization/s and the situation/s you are referring to.

Ans :  Role of manager in Retaining Talent:

Hiring good people is still a relatively simple task as compared to the task of retaining them; people may join a company because of its favorable image but will stay on only if they find appreciation for, and satisfaction from, their work.

1. To retain talented people the manager should provide a comfortable working environment which is conducive to work. More important than the physical environment is the degree of freedom which a worker enjoys in making decisions within the defined parameters of his job. When a worker knows that it is his responsibility to produce results and he is accountable for them, he will put in his best effort. On the other hand, if the worker is always ordered to do every single act, and nothing is left for him to decide, whatever little potential

Q.2. ‘Policies, Programmes, and Procedures play as main stay of organizational growth and sustainability’. Do you agree?

Substantiate your answer with suitable examples from your organizational experiences or the ones you have come across. Suitably describe the organizational history and events while supporting your point of view.

Ans : Yes, i m agreed with the statement that Policies, Programmes, and Procedures play as main stay of organizational growth and sustainability.

Necessity of policies, programmes and procedures for growth and sustainability:

Every organization needs to distinguish and market its organizational identity. The organization’s identity is made up of its vision, mission, and values. It tells the “story” of the organization and why it exists. Organizational identity can also be distinguished by the organization’s look (branding) and message. Finally, an organization is often identified with its leadership. A charismatic, smart executive director or CEO can help distinguish an organization and set it apart. Following is a description of the components of organizational identity.

1.The vision is the overarching dream for which your organization aims – for example some organizations envision a time when “every child is healthy and wanted,”

2. The mission is the action statement that tells others how the organization works towards realizing its vision.

3. The values of the organization tell the world how the organization operates – its philosophy and the core principles that underpin its work.

Q. 3.Why is socialization an important process both for the individual employee and also for the organization? Enumerate the discuss the significance of its stages and their role in shaping the culture and ethos of the organization.

Discuss with examples you are aware of. Briefly describe the organization /organizational situations you are referring to.

Ans : Importance of socialisation for individual employee and for organisation :

Organizational socialization is a powerful process that affects an individual's behavior and helps shape and maintain an organization's culture. It usually is the first behavioral process a person experiences after joining an organization. Part of the socialization process happens before joining an organization. Other parts happen after joining.

Organizations ask employees to take on specific roles that have behavioral requirements. The three types of role behavior are pivotal (required), relevant (desired), and peripheral (tolerated). Those role behaviors are learned in a series of role episodes that unfold during socialization. The socialization process is continuous throughout a person's association with an organization, but it is most intense before and after boundary

Q.4. What are the types of power? Do you see any relationship between ‘Power concept’ and ‘Successful versus effecting leadership’? Explain the concepts with the help of experiences you have /had in your organization or the organization you are familiar with. Rationally describe the leadership situation and Power type along with organizational background to support your response.   

Ans :  Types of powers :

Power means many different things to different people. For some, power is seen as corrupt. For others, the more power they have, the more successful they feel. For even others, power is of no interest at all. The five bases of power were identified by John French and Bertram Raven in the early 1960’s through a study they had conducted on power in leadership roles. The study showed how different types of power affected one’s leadership ability and success in a leadership role.

The five bases of power are divided in two categories:

Formal Power

1. Coercive

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MS – 612 - Retail Management

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MS – 612 - Retail Management

1. (a) What do you understand by the term Retailing? Discuss the major activities performed by a retailer in the Indian Context.   

Answer : Retail is the sale of something in general.

Retailing is a distribution channel function, where one organisation buys products from supplying firms or manufactures products themselves, and then sells these directly to consumers.

In majority of retail situations, the organisation, from whom a consumer buys, is a reseller of products obtained from others, and not the product manufacturer. However, some manufacturers do operate their own retail outlets in a corporate channel arrangement.

Retailers offer many benefits to suppliers and customers as resellers. Consumers, for instance, are able to purchase small quantities of an assortment of products at a reasonably affordable price. Similarly, suppliers get an opportunity to

     (b)  Explain “Wheel of Retailing” with suitable illustrations

Answer : Most of the retail businesses start on low cost, low price and low margins but as their sales start increasing they quickly shift to a high cost, high revenue model.

Example

A restaurant started in a temporary location would be offering a limited number of items at low price. It looks to develop its client base but as soon as the construction is completed or final, it starts providing a lot more variety and introduces a number of new services (free home deliver y, boarding , and lodging )  it also starts increasing its prices on its earlier items. This is done to recover its fixed cost quickly and have an early breakeven

2. (a)  Who is an retail customer? Briefly list out the characteristics of a retail customer and the various consumer behavior patterns that you are familiar with 

Answer : A person most likely to be waiting for a partner or on a lunch break, quickly passing through the store, had the least probability of buying something, and was also the least likely to be converted into a buyer. The pleasure Seeker : It is the most important consumer, as he/she is the easiest to influence. They spend the longest time in store, slowly move through the department, and touch more than 40 products compared to

     (b) Explain the process of choosing a store location and elaborate the various criteria for evaluating location aspects in the following situation

Answer : A poor location or a poorly negotiated lease can cripple a wonderful business. Every business has its own location criteria. In this session you will define your criteria, learn how to select the right location, create a site model, and recognize the important aspects of a lease agreement.

Process of choosing a store location:

Population and Your Customer

If you are choosing a city or state to locate your retail store, research the area thoroughly before making a final decision. Read local papers and speak to other small businesses in the area. Obtain location demographics from the local library

(a) a chain of hair dressing salon for the elite.                    

Answer : various criteria for evaluating location aspects in a chain of hair dressing salon for the elite:

Each retail and commercial business has its own criteria. For example, a donut shop should be located on the "going-to-work" side of the street. On the other hand, a liquor store should be on the side of the street with traffic going home from work.

(b) Multi brand footwear retailer

Answer : Visibility and signage: Customers must know you are there. They should be able to see your store. Usually the end or corner location is better, which is why the rent for those spaces is higher. Get the biggest sign you can. Tell the public clearly what you are selling. Examples: Travel, Gifts, Pets, tell the products. Both your

(c) PDS for lower income group by the government

Answer : Public Distribution System (PDS) providing foodgrains at affordable prices is one of the key elements of the Government's Food Security system. In spite of obvious limitations PDS did play a role improving in regional food security specially in drought prone areas. In an attempt to improve availability of food to population living in most vulnerable areas (remote, tribal and drought-prone regions) the revamped public distribution

3.  (a) What constitute Retail Mix? Discuss various considerations to be kept in mind which planning for store merchandise

Answer : Retailing mix refers to the various features of retail strategy planning. Also often called "the 6 Ps," retailing mix details a retail business' approach to its products, promotion efforts, personnel, presentation, place and price. Retailing mix helps a business define its strategy and carry out operations according to its goals.

Various considerations to be kept in mind which planning for store merchandise :

Ask a dozen retailers "What is merchandise planning?" and you will get at least a dozen different definitions. This is because it can be

      (b) Explain the term sourcing and discuss the challenges associated in sourcing merchandise by the following retailers

In business, the term word sourcing refers to a number of procurement practices, aimed at finding, evaluating and engaging suppliers of goods and services.

1.       Grocery Retailer

Despite the economic downturn, the internationalization of the grocery retailing industry remains in an early stage of development and most leading players have considerable scope to expand their international operations through various untapped channels.

Global retailers are expected to

4.   (a) Enumerate and discuss the various issues that impact retail business in India.

Answer : The organised retail sector in India has been witnessing various issues and challenges which are proving to be a hurdle for its fast-paced growth. Even though the organised retail sector is in a very nascent stage in India, it provides ample opportunities for retailers, and mitigation of a few challenges will help the sector attain higher economies of scale and growth. Elucidated below are the challenges and risks that the sector faces:

·         Global economic slowdown

·         Competition from the unorganised

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