assignment-sem1-nibm.doc
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nibm 1st sem assignmentsTRANSCRIPT
National Institute of Business ManagementIst Floor, Swathandrya Samara Smrithi Bhavan, Nandavanam Road
Palayam P.O. Trivandrum – 695 033E-mail: [email protected]
0471- 4014294, 4014298Assignments of Two Year MBA
Semester - I
1. Students are requested to go through the instructions carefully.2. The Assignment is a part of the internal assessment.3. Marks will be awarded for each Assignment, which will be added to the total marks.
Assignments carry equal marks.4. Assignments should submit in your 'portal' on/before the 'completion date' mentioned.
1. Principles and Practices of Management
How will you influence people to strive willingly for group objectives in your
organization (target based industry)? Apply your interpersonal influence through
communication process towards attaining your specialized goals?
2. Human Resources Management
The present state of recession in the IT Industry - as a Human Resource Manager how
are you going to undertake Human Resource Planning at Macro Level to tide over this
crisis?
3. Financial Management
What will your outlook towards maintenance of liquid assets to ensure that the firm has
adequate cash in hand to meet its obligations at all times?
4. Marketing Management
If you are working in a super market, what techniques/ tools you will use in data
collection. How are you going to analysis the data and make inferences? How will you
finally apply your market research to improve sales and win over customers?
5. Organizational Behaviour
If you are made the campaign leader for a particular political party. How will you use
your leadership skills to motivate your party men to ensure success of the party
nominee in the elections? (Focus on the individual, motivate and apply leadership
style).
6. Principles of Economics
Suppose the price elasticity of demand for text books is two and the price of the text
book is increased by 10%. By how much does the quantity demand fall?
1. Principles and Practices of Management
Question: How will you influence people to strive willingly for group objectives
in your organization (target based industry)? Apply your interpersonal
influence through communication process towards attaining your specialised
goals?
Answer:
To influence people for group objective several organisational factors must be kept
mind to achieve target:
Goal must be common and consistent throughout project and accepted by all
members of group and discussed properly before implementation, So that error
should be corrected and mental capability of team member can be judged.
Team concept must be supported by top management and commitment towards
objective is required by all team members. For that active participation if self is
desired.
To give responsibility in well-defined manner, after judging each member’s ability
and work efficiency.
Both real and perceived power delegated to the teams.
Mutual accountability for team performance.
To recognise and establish reward system for higher target.
Majority team members designated as Manager or Dy. Manager in their
respective role, as mental theory suggest that leadership feeling in individual
improves work efficiency and his will to work hard increases. The leadership
responsibility may be given to team member for specific objective or goal of the
team’s mission. In some cases, leadership may shift to different team members
on a rotating basis.
Proper team building:
Right qualified members
Clear direction to members
Member must be connected and have access to all department of
organisation.
Everyone must agree to basic concept and goal of team.
Everyone must adhere to basic policies.1
Every member has proper training
Every member must be positive for allocated target.
Team or group of people is not always best structure to get desired target effectively.
Manager must decide about work efficiency as a group of employee before making
team structure for particular target. Hence proper communication among team is
must.
Good employee communication is essential to good team work, but few employees
may have “communication anxiety.” To overcome this, proper training, repeated
meeting and communication sessions are require simultaneously with team building
process.
Goal is something which needs to be approached, achieved and moved forward to.
Communication is the passing on the ideas and information. Communication
provides bonding element among team members. Proper and clear communication
at all level of management is must. We can influence our people very much by way
of communication.
Communication is indispensable in any work place. That can be done by face to
face, written, email, voice mail, text messaging and instant messaging. Each
requires involvement by the sender and receiver to be effective. To set up good
communication model in team is prerequisite to maintain team unity. Model must be
easy, precise and language used must be known by everyone. Communication must
flow bi-directional. Higher authority’s message must be reach to root worker and root
worker’s problems, activity and work information must reach to higher authority to
maintain integrity of team and solve any problem quickly. Communication must serve
a purpose related to planning, decision making and evaluation. Communication must
flow to the end without by passing any member. Repetition of message improves the
effectiveness of communication.
To maintain the communication cycle, repeated meeting with team member about
i. Input
ii. Processing
iii. Output target achieved, is required.
By this, we can know any surprising element from process, take an action in further
choice and make better effective change in plan. In meeting, effective group
discussion, suggestion or feedback by members, seminar by member who has
achieved good target will influence final target in positive way.
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2. Human Resources Management
Question: The present state of recession in the IT Industry - as a Human
Resource Manager how are you going to undertake Human Resource Planning
at Macro Level to tide over this crisis?
Answer:
In concepts of management, there are many “M”s i.e. Men, Material, Machines,
Methods, Money, Motive. Most important is MEN (HUMAN) as rest of “M”s are
moves around humans. Human is prime asset of organisation to work uniformly and
to achieve high target. Hence, human as a resource of organisation must be
managed.
Today is the phase of global economic crisis. Hence there is a recession period in
the major field. This recession affects almost all the fields especially IT field. To
overcome this situation, we should plan and to undertake an effective human
resource policy at macro level.
Focussing on IT industry:
We should plan human resources to overcome the crisis
1) To decide objective and goal:
For IT organisation, we should plan long term objectives and goal.
We should match employee’s salary with estimated income.
To expand the market with encouraging the employee to launch new product to
increase income from extended market coverage.
We should recruit quality employees by short out process, this will help rapid
growth of company.
2) Estimate the future man power requirement:
This is the most important step, we must estimate future requirement of man
power roughly to over employment as this will lead to investment unnecessary
and lead to recession in future. Proper balance between investment and outcome
is must to gain profit without affecting quality of product.
Forecasting also based on factor of economic cycle such as inflation, raw
material cost etc.
It should be done periodically.
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3) Auditing human resources:
We must gather data about present employee’s skills, experiences, qualification,
salary, work.
This will help to analyse the future requirement, unskilled employee, and
unqualified employee as IT industry need updated employee.
4) Job analysis:
After gathering all data of current employee, we do their job analysis.
What they are doing? What work they have given for organisation’s growth?
What wages they are paid? Anyone require to be trained? How many are burden
to company?
From this we can plan future requirement and present up gradation for new
vacancies.
We can judge which particular skill or qualification is lacking and to be recruited
on priority basis like software maintenance, software development, antivirus,
cyber security, hardware maintenance, service delivery to customer etc.
5) Develop final HR plan:
Final step is to develop effective human resource plan to recruit new employee or
to train existing employee.
Utilise local man power to reduced high pay burden for service delivery to
customer for particular product.
Check availability of part time labour.
Plan good recruitment process to get best and deserving candidate.
The economic crisis has touched every industry and profession, thoroughly
altering the hiring setting. Increased unemployment, and lowered profits have
change the way workers are hired, and considerably demand the need of human
resource planning.
We can conduct primary research among HR and recruitment professionals to
come out with a picture of how companies have acted and reacted, as well as
recommendation on how leaders can take a proactive approach to staffing for the
future.4
3. Financial Management
Question: What will your outlook towards maintenance of liquid assets to
ensure that the firm has adequate cash in hand to meet its obligations at all
times?
Answer:
Liquidity means that:
1) Firm has adequate cash to pay for the expenses.
2) Firm has enough cash to purchase unexpected large purchases.
3) Firm has cash reserve to meet emergencies at all times.
For this, regular cash flow is must and it can be done by maintaining ratio between
expenses and profit.
Determine the source of finance:
Long term finance in the form of shares is good option, it can be sold and buy
back as and when required without much loss.
Short term finance must be used for emergency and for higher profit expected
project.
Plan some of regular profit amount in safe way in the form of deposit, company
infrastructure, property which can be a future source of cash.
Manufacturing cycle must be faster so that final furnished product can be sold early
and get working cash back to reduced debt interest.
Estimation of working capital to optimum level as it balances risk and returns. For
this Working Capital Policy Index (WCPI) can be calculated by the ratio of current
assets to fixed asset. Higher ratio indicates conservative policy and low ratio indicate
aggressive policy. Conservative policy gives greater liquidity and lower risk and
returns and opposite for aggressive policy. Current ratio should be at least 2:1.
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CASH MANAGEMENT:
Controlling level of cash balance by preparing cash budget monthly basis, finding
alternate source of cash, for seen situation like strike, recession, flood while
preparing cash budget.
Controlling the inflow of cash by using techniques which helps in speedier
collection of cash.
Controlling outflow of cash by creating centralised system for disbursement,
effective payments only on the due dates, float system for cheque payment.
Optimum investment of surplus cash in short deposits.
The higher short term assets and the less your short term debt: make your ability
better to pay the debt (short term liquidity ratio / liquidity ratio help you determine
this). The short term creditors of a company like supplies of good of credit and
commercial banks providing short term loans are primarily interested in knowing the
companies’ ability to meet its current or short term obligation of a firm can be met
only when there are sufficient liquid assets.
Therefore, a firm must ensure that it has sufficient liquidity or the capacity to pay its
current obligation due to good liquidity position. The current asset should either be
liquid or near liquidity. These should be exchangeable in to cash for paying
obligations of short term nature. If current assets can pay off current liabilities, then
liquidity position will be satisfactory.
The ideal current ratio is 2:1 means if company’s current assets are reduced to half,
then also the creditor will also be able to get their payment in full. The firm has to
maintain core current assets which is easily realisable at all times. The laid down
bench mark ratio to maintain the ratio of core current assets to current liabilities is
1:1.
The ideal liquidity ratio is1. This indicate short term solvency of company.
Hence, adequate cash planning, cash budgeting, financial fore casting is required to
maintain liquidity.
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4. Marketing Management
Question: If you are working in a super market, what techniques/ tools you will
use in data collection. How are you going to analysis the data and make
inferences? How will you finally apply your market research to improve sales
and win over customers?
Answer:
In super market, we are selling different product of different brand to
customer/consumer. We are basically dealing with consumer goods. So consumers
satisfaction is must to increase sales.
In data collection, we should focus on various factors affecting consumer behaviour.
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Study of above factors, output and finding out the buyer’s demand and requirement
leads to growth. After deciding about above factors, input, output and process for
supermarket, we do randomised control trial by selecting random consumer residing
nearby store, coming to the store as per decided sample size.
After selecting sample (group of random people/consumers), we ask them different
question related to above model. For example:
1) Religion, way of festival celebration, tradition, culture, social class, economic
status.
2) Age, sex, occupation, income.
3) Family members, role in society, role in company, group activity.
4) Product choice, brand choice, important of branded product, quality assurance,
price affordability, mode of delivery from shop or home, technological equipment
in store, store design, product arrangement etc.
After collecting data from group of people, we short out them accordingly age group,
sex, and income groups. We then prepare excel sheet to fill data, prepare charts.
From that we analyse the mind set of consumers, their sense about brand, their
requirement of product category, service requirement, and technology up-gradation
requirement by statistical interpretation,
1) Multiple regression.
2) Cluster analysis.
3) Factor analysis.
After interpretation, we make effective marketing strategy and build a plan according
to consumer response. But research does not end here. We will start experiment of
the new ideas. We do continuous observation on strategy. Study goes on.
Consumer friendly environment, consumer friendly services and consumer friendly
products in super market let consumers to make regular entry. Proper advertisement
as per research interpretation leads to good outcome.
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5. Organizational Behaviour
Question: If you are made the campaign leader for a particular political party.
How will you use your leadership skills to motivate your party men to ensure
success of the party nominee in the elections? (Focus on the individual,
motivate and apply leadership style).
Answer:
Leadership skill is something that influences other member of group/party/people
towards a goal decided by a leader. Manager tries to set effective planning and
policy, but leadership quality required to implement policies and to be adopted by
employee or follower.
If I am a campaign leader of particular party, then my goal to ensure success of that
particular party and to motivate their party nominee for effective strategy for success.
To be a good leader,
I have to adapt myself to situation and local condition.
I have to adjust myself to any condition for local campaign.
I have to give dominant and assertive speech.
I must be aggressive towards goal.
I have to control my emotion.
Decision power
My speech should be to the point and fluency in speech.
Self-confidence.
I have to boost my intelligence level by reading history and latest books and
novels.
Social participation.
First I have to set up a meeting with party nominee, give them effective, confident,
motivating speech and good discussion about current situation. Then I have to
suggest them which topic should be used in which way to get attention of people. My
body language will remain strong in every speech that will make my image stronger.
I have to connect with people in their traditional way, so that they will feel homely
with me. I have to find out local problem by interacting with the society. I have to
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assure them about their problem that they will look after. I have gather information
about weaker side of opponent strictly related to public life only.
Then I have to direct my party nominee to raise the point of local issue, connect with
them, stick to your decision and not change frequently. I have to find out local
problem and one common problem for country for each nominee and ask them to
spread effectively and this will bring their win definitely. I have to adjust myself to
local culture for local nominee campaign.
In modern era, there are few new concepts in leader ship those are branding,
technology and rough decision.
Branding means I have to make my image popular by my work, showing my good
work to people by constant advertisement, by local conference, seminars-in which I
have to show my activity and goal for future.
Technology is one by which people connected easily as a human. I can’t reach each
and every place frequently, but by technology I can connect many human beings
simultaneously. That will also show my intelligence level in understanding of
technology.
Rapid decision making ability in any situation makes the leader powerful and popular
among the people.
I can use branding and technology simultaneously to show my intelligence level as
well as to ensure my party men that I am strongly working for campaign. That will
create belief in them that if they work as I suggested, they will surely wins the battle
of election. I can connect to each party nominee by means of conference call
frequently and guide them for local problem.
In short, an energetic, intelligent, fluent, highly technical and motivational speech
among party nominee electrifies their working capacity and ensures them win.
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6. Principles of economics
Question: Suppose the price elasticity of demand for text books is two and the
price of the text book is increased by 10%. By how much does the quantity
demand fall?
Answer:
Price elasticity of demand (Ep) = Percentage change in demand
Percentage change in price
Hence here,
2 = Percentage of change in demand
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Percentage change in demand is 20 as per formula.
So, quantity demands fall by 20%.
Here, quantity demand falls, because text books are the things which are not used
for life long and there are many substitutes available for text books. If price
increases, some may use old book instead of newer to save money. People might
copy it to use, though it is illegal. Many text books alternative also available online.
For example, ABC Company has made some text book production about social
science. His text books in market now in demands. But if he increases cost, then
consumer ask about low cost alternative for same book which was easily available
as so many companies doing the social science text book related publication.
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