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IB0010- INTERNATIONAL FINANCIAL MANAGEMENT

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ASSIGNMENT

 

DRIVE FALL 2014
PROGRAM MBADS – (SEM 4/SEM 6) / MBAN2 / MBAFLEX – (SEM 4) /

PGDFMN – (SEM 2)

SUBJECT CODE & NAME IB0010- INTERNATIONAL FINANCIAL MANAGEMENT
SEMESTER 4
BK ID B1759
CREDITS 4
MARKS 60

 

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme

 

1 Write short notes on:

  1. a) Measuring exchange rate movements

 

Answer : Measuring the exchange rate

Exchange rates are expressed in various ways:

 

Spot Exchange Rate - the spot rate is the rate for a currency at today’s market prices

 

Forward Exchange Rate - a forward rate involves the delivery of currency at a specified time in the future at an agreed rate. Companies wanting to reduce risks from exchange rate volatility can buy their currency ‘forward’ on the market

 

 

  1. b) Factors that influence exchange rates

 

Answer : Determinants of Exchange Rates

Numerous factors determine exchange rates, and all are related to the trading relationship between two countries. Remember, exchange rates are relative, and are expressed as a comparison of the currencies of two countries. The following are some of the principal determinants of the exchange rate between two countries. Note that these factors are in no particular order; like many aspects of economics, the relative importance of these factors is subject to much debate.

  1. Differentials in Inflation

 

 

 

2 The key component of the financial system is the money market that acts as a fulcrum of monetary operations.

Write down the important points under each category mentioned below.

 

  1. a) Functions performed by money market

Answer : There are two types of financial markets viz., the money market and the capital market. The money market in that part of a financial market which deals in the borrowing and lending of short term loans generally for a period of less than or equal to 365 days. It is a mechanism to clear short term monetary transactions in an economy.

 

Money market is an important part of the economy. It plays very significant functions. As mentioned above it is basically a market for short term monetary transactions. Thus it has to provide facility for adjusting liquidity to the banks, business corporations, non-banking financial institutions (NBFs) and other financial institutions along with investors.

 

The major functions of money market are given below:-

 

 

  1. b) International interest rates

Answer : In many industrial countries the domestic impact of interest rate developments abroad has become an increasingly sensitive question. Outside the United States the issue has centred on the possible influence of high or rising interest rates on a still fragile economic recovery. When inflation expectations are unknown, interest rate levels are, of course, difficult to interpret, and partly for this reason interest rates have come to play a smaller role as explicit objectives of monetary policy. In some – though not all – countries nominal interest rates are nevertheless felt to be uncomfortably high in relation to rates of inflation.

 

 

  1. c) Standardized Global Market regulations.

Answer : The financial crisis of 2007 revealed fundamental weaknesses in the structure of financial regulation. In response, policymakers and regulators have embarked on an ambitious regulatory reform agenda that aims to achieve as much global co-ordination and consistency between regional reform efforts as possible.

How successful attempts at international co-ordination and consistency have been deserves further examination. Despite most of the regulatory changes taking place under the auspices of the G20, variations in the approaches taken on both sides of the Atlantic and in Asia can be observed and are increasingly significant. The general objectives might be consistent, but the different regulatory paradigms in the US, Europe and Asia have become increasingly visible and the resulting changes are, many fear, becoming less co-ordinated

 

 

 

3 Thousands of years back the concept of bartering between parties was prevalent, when the concept of money had not evolved. Explain  counter trade with examples

 

Answer :  Trading between nations has been happening since time began. In ancient time nations traded silk, spices, cloth and animals of all kinds. Today nation trade food items, defense equipment, metals, electronics etc. The products might have changed but the basic concept is still the same as the underlining need which brings together two nations in a trade relationship still exists.

 

One such method of trading between nations is called counter trade. Counter trade is an import / export relationship between nations or large companies in which good and/or services are exchanged for goods and services instead of money. In some cases monetary evaluations are made for accounting purposes.

 

Types of counter trade

 

Barter: It is the exchange of goods and services for goods and services without any use of money. Like the trade relationship between China and

 

 

4 There are different techniques of exposure management. One is the Managing Transaction Exposure and the other one is the managing operating exposure So you have to explain on both Managing Transaction Exposure and Managing Operating Exposure.

 

Answer : ‘Transaction Exposure’ is a risk which is faced by the organizations which are involved in international trade especially when they enter into the financial obligations. The risk which is faced by the companies is about the changes occurring in the currency exchange rates after they have entered into trade obligations in the international market. Many companies which face such a situation adopt hedging strategy which allows them to get locked in an exchange rate by using forward rates to evade the exposure of companies to risk. ‘Transaction Exposure’ is also called ‘Contractual Exposure’ which is about the

 

 

5 Every firm is going on concern, whether domestic or MNC. Explain the techniques of capital budgeting and the steps to determine cash flows.

 

Answer : Capital investments are long-term investments in which the assets involved have useful lives of multiple years. For example, constructing a new production facility and investing in machinery and equipment are capital investments. Capital budgeting is a method of estimating the financial viability of a capital investment over the life of the investment.

 

A Explanation of techniques of capital budgeting:

 

There are several capital budgeting analysis methods that can be used to determine the economic feasibility of a capital investment. They include the Payback Period, Discounted Payment Period, Net Present Value, Profitability Index, Internal Rate of Return, and Modified Internal Rate of Return.

 

 

 

6 Write short note on:

 

American Depository Receipts(ADR)

Answer : An American Depository Receipt, or ADR, is a security issued by a U.S. depository bank to domestic buyers as a substitute for direct ownership of stock in foreign companies. An ADR can represent one or more shares, or a fraction of a share, of a non-U.S. company. Individual shares of a foreign corporation represented by an ADR are called American Depositary Shares (ADSs).

 

An ADR is a convenient way for companies whose stock is listed on a foreign exchange to cross-list their stock in the United States and make their stock available for purchase by U.S. investors, as these receipts can be traded on U.S. exchanges.

 

 

Global Depository Receipts(GDR)

Answer : Global Depositary Receipts (GDRs) are negotiable certificates issued by depositary banks which represent ownership of a given number of a company’s shares which can be listed and traded independently from the underlying shares. These instruments are typically used by companies from emerging markets and marketed to professional investors only.

 

GDRs can be listed on either the Main Market via a Standard Listing or on the Professional Securities Market. A GDR will be used to access two or more markets, usually London and the US. They are often launched for capital raising purposes, so

 

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IB0011– International Marketing

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ASSIGNMENT

 

DRIVE FALL 2014
PROGRAM MBADS – (SEM 3/SEM 5) / MBAN2 / MBAFLEX – (SEM 3) /

PGDIB – (SEM 1)

SUBJECT CODE & NAME IB0011– International Marketing
BK ID B1199
CREDITS 4
MARKS 60

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

 

Q.NO.1 Discuss the different management orientations of a company. How does it affect international marketing?

 

Answer : Marketing Concept

One of the five marketing management orientations is the marketing concept. The marketing concept is based on the belief that a company must create, deliver and market products more efficiently than the competition in order to turn a profit. To implement this concept, managers focus on researching the target market and customer’s needs along with marketing the product in an integrated manner.

 

Production Concept

The production concept, the oldest marketing concept, is based on a belief that consumers prefer low prices and product availability. To implement the production concept, managers concentrate on low costs, mass distribution and high production efficiency. The production concept is mostly useful in developing countries where

 

 

 

 

Q.2. Discuss how culture plays an important role in international marketing. Give some examples of advertisements which failed due to lack of cultural understanding.

 

Answer : How Culture Plays an Important Role in Global Marketing

When it comes to branding yourself to a domestic market, your ability to connect with your target audience is greatly enhanced by sharing a common language and culture with them. Conversely, branding to markets beyond your borders is another story and presents a unique set of linguistic and cultural challenges that must be addressed and overcome.

Lost in Translation                                                 

Perhaps the biggest obstacle to cross-cultural personal branding success is a lack of understanding of how people communicate in other cultures. In fact, one of the most common assumptions is that a straight translation of marketing, advertising and public relations materials are enough to conform to the unique needs and values of diverse

 

 

 

Q3.  Explain different types of cost based pricing.

 

Answer: Cost-based pricing involves calculating the cost of the product, and then adding a percentage mark-up to determine price.

 

Cost-plus pricing is the simplest pricing method. A firm calculates the cost of producing the product and adds on a percentage (profit) to that price to give the selling price. This appears in two forms: the first, full cost pricing, takes into consideration both variable and fixed costs and adds a % markup. The other is direct cost pricing, which is variable costs plus a % markup. The latter is only used in periods of high competition as this method usually leads to a loss in the long run.This method, although simple, does not take demand into account, and there is no way of determining if potential customers will purchase the product

 

 

 

Q4. Tobacco companies are targeting China as Chinese are heavy smokers. Which segmentation is this and what are the other international market segmentations?

 

Answer: INTERNATIONAL MARKET SEGMENTATION

Market segmentation is the process in marketing of dividing a market into distinct subsets (segments) that behave in the same way or have similar needs. Because each segment is fairly homogeneous in their needs and attitudes, they are likely to respond similarly to a given marketing strategy. That is, they are likely to have similar feelings and ideas about a marketing mix comprised of a given product or service, sold at a given price, distributed in a certain way, and promoted in a certain way. Broadly, markets can be divided

 

 

 

5 Write short notes on:

                                                        

  1. a) e Marketing

Answer : E-marketing refers to the use of the Internet and digital media capabilities to help sell your products or services. These digital technologies are a valuable addition to traditional marketing approaches regardless of the size and type of your business. E-marketing is also referred to as Internet marketing (i-marketing), online marketing or web-marketing.

 

As with conventional marketing, e-marketing is creating a strategy that helps businesses deliver the right messages and product/services to the right

 

 

  1. b) Spot and forward rates

Answer : Spot Rates

In finance, a spot contract, spot transaction, or simply “spot,” is a contract of buying or selling a commodity, security, or currency for settlement (payment and delivery) on the spot date, which is normally two business days after the trade date. The settlement price (or rate) is called a “spot price” or “spot rate. “

 

 

 

Q6. Discuss the role and activities of World Bank.

 

Answer: As a development institution, the World Bank supports two broad goals in South East Europe: (i) poverty reduction and (ii) economic and social development, the latter in support of the countries ambition to join the Europen Union. The central vehicle for supporting the national reform program of each country is the so-called Country Assistance Strategy (CAS). Based on an assessment of the country’s priorities, past portfolio performance and creditworthiness, the CAS sets strategic priorities and determines the level and composition of financial and technical assistance that the Bank seeks to provide the country. The fra

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IB0012 – Management of Multinational Corporations

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ASSIGNMENT

 

DRIVE FALL 2014
PROGRAM MBADS – (SEM 3/SEM 5) / MBAN2 / MBAFLEX – (SEM 3) /

PGDIB – (SEM 1)

SUBJECT CODE & NAME IB0012 – Management of Multinational Corporations
BK ID B1200
CREDITS 4
MARKS 60

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

 

1 Discuss the relationship between international business and international organizations. What could be the objectives of going international?

Answer : International business

Every major industry has been affected by international business trends, innovations and trade. Foster’s international business curriculum prepares students for careers in export and import firms, international banking, multinational business, government agencies, international organizations and more.

 

International business comprises all commercial transactions (private and governmental, sales, investments, logistics, and transportation) that take place between two or more regions, countries and nations beyond their political boundaries. Usually, private companies undertake such transactions for profit; governments undertake them for profit and for political reasons.[1] It refers to all those business activities which involve cross border transactions of goods, services, resources between two or more nations. Transaction

 

 

 

 

2 Discuss the following theories of international trade:

  1. a) Comparative cost advantage theory

 

Answer : According to Smith’s Theory trade would take place between countries only if the country enjoys an absolute cost advantage in production of a particular commodity over another.

 

However, it is seen in some cases that country A enjoys a produces all commodities at a cost lesser than country B. But, despite this country A ends up importing some commodities from country B. Ricardo explained this using his theory of Comparative Cost Advantage.

 

 

 

 

3 Many countries are apprehensive about permitting MNCs operations. What are the possible reasons for this?

Answer : In an attempt to cut costs, many multinational corporations (MNCs) export their polluting activities through subsidiaries established in less developed countries. This exporting of pollutants is a crucial environmental issue[i]. Environmental pollution does not necessarily need to cross a country’s borders in the form of a substance, it can also pass the frontier through a decision taken in one state leading to environmental consequences in another (Scovazzi, 1991: 395). To put it differently, environmental

 

 

 

4 Compare the management styles in USA and Japan.

 

Answer : Japanese management style probably holds a more important key for a successful company than the American one. However, there are some approaches in the Japanese management that have their own flaws which could be fixed by learning and adapting some

approaches from American companies.

When it comes to employees and their job responsibilities in Japan and America, the statement that American team leaders are the only ones responsible for the whole team and the project they work on is not supported properly. In American corporations, each employee is responsible for his/her job; the team leader is not the only taking

 

 

 

5 Explain the scope of comparative management.

 

Answer : Comparative management is the study of various management principles, and how they apply from one situation to another. Such as with international companies. How these principles relate from one country to another. Management of international corporations is not a one size fits all scenario. There are many factors that will need to be taken into account. Among those are customs and social norms that vary from country to country. In some countries, care must be taken to address certain religious customs of the workforce.

 

 

Comparative management analyzes the extent to which

 

 

 

6 Write short notes on:

  1. a) Ethical issues in international management

Answer :  There is an increasing emphasis on the corporate responsibility of large organisations from developed nations and the way they operate in third world countries. Many nations now impose their ethical standards on developing countries even though they themselves have been guilty of arguably unethical practices in the past. For example, the poor working conditions suffered in the third world were commonplace during the industrialisation of many western economies.

Some of the most common international ethical issues surround the environment, child labour, working standards and conditions,

 

 

 

  1. b) Social responsibility

Answer : Being Socially Responsible means that people and organisations must behave ethically and with sensitivity toward social, cultural, economic and environmental issues. Striving for social responsibility helps individuals, organisations and governments have a positive impact on development, business and society with a positive contribution to bottom-line results.

 

Social Responsibility can be “negative,” in that it is a responsibility to refrain from acting (resistance stance) or it can be “positive,” meaning there is a responsibility to act (proactive stance). Being socially responsible  not only requires participating in socially responsible activities like recycling, volunteering and mentoring, but to actually make it a lifestyle. Only through a commitment to embrace and embed social responsibility into your personal value and belief system can you truly become socially responsible in all you do.

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IB0013 –Export Import management

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ASSIGNMENT

 

DRIVE FALL  2014
PROGRAM MBADS – (SEM 3/SEM 5) / MBAN2 / MBAFLEX – (SEM 3) /

PGDIB – (SEM 1)

SUBJECT CODE & NAME IB0013 –Export Import management
BK ID B1201
CREDITS 4
MARKS 60

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

 

 

 

1 Describe in brief the export packaging and packing. Explain with examples the purpose of marking.

Answer : An important stage after manufacturing of goods or their procurement is their preparation for shipment which involves packaging and labelling of goods to be exported. Proper packaging and labelling not only makes the final product look attractive but also save a huge amount of money by saving the product from wrong handling the export process.

 

 

 

 

 

2 What are the various modes of payment by the importer? Discuss.

Modes of payment

 Answer : : Consignment Purchase

Consignment purchase terms can be the most beneficial method of payment for the importer. In this method of purchase, importer makes the payment only once the goods or imported items are sold to the end user. In case of no selling, the same item is returned to the foreign supplier. Consignment purchase is considered the most risky and time taking method of payment for the exporter.

 

 

 

3 List the Principal and auxiliary export documents. Explain any two auxiliary export documents.

Answer : Principal and auxiliary export documents:

 

Both principal and auxiliary documents comes under the category of commercial documents. Documents required for an international sale can vary significantly from transaction to transaction, depending on the destination and the product being shipped. At a minimum, there will be two documents: the invoice and the transport document. Out of 16 commercial documents , there are 8 principal and rest are auxiliary documents.

 

 

 

4 Discuss the objectives and components of Electronic data interchange.

Answer : The electronic data interchange process is the computer-to-computer exchange of business documents between companies. EDI replaces the faxing and mailing of paper documents.

 

EDI documents use specific computer record formats that are based on widely accepted standards. However, each company will use the flexibility allowed by the standards in a unique way that fits their business needs.

 

 

5 Explain the risks covered and not covered under credit risk insurance.

 

Answer : Risks covered by Standard Policies fall into two categories – Commercial Risks and Political Risks.

 

Commercial Risks which includes Insolvency of the buyer, Protracted default in payment ( Importer has to pay within four months of due date) and Under special circumstances specified in the policy, buyer’s failure to accept the goods though there is no fault on the part of exporter.

Political Risks

What are the clauses included in Political Risks under policies issued by ECGC?

 

 

6 Write short notes on:

 

  1. a) Pre shipment finance

 

Answer : Pre-shipment finance releases funding to accommodate the transit of goods before the exporter receives payment by providing up to 50% of the order value.

 

Pre-shipment / Packing Credit also known as ‘Packing credit’ is a loan/ advance granted to an exporter for financing the purchase, processing, manufacturing or packing of goods prior to shipment. Packing credit can also be extended as working capital assistance to meet expenses such as wages, utility payments, travel expenses etc;

 

 

 

  1. b) Post shipment finance

 

Answer : Post-shipment finance advances capital upon the shipment of goods, bridging the gap in the interim whilst awaiting payment.

 

‘Post-shipment Credit’ means any loan or advance granted or any other credit provided by a bank to an exporter of goods / services from India from

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HOSPITAL ADMINISTRATION 2

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AEREN FOUNDATION’S                                                                              Maharashtra Govt. Reg. No.: F-11724

 

AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL

 

 

 

 

 

 

Subject : HOSPITAL ADMINISTRATION

  1. 1. Any Four Questions(4X 10=40)
  2. Hospital waste causing environmental pollution and leadingto negative recycling with serious medical and healthconsequences- Discuss at length.

Answer:Hospital is a place of almighty, a place to serve the patient. Since beginning, the hospitals are known for the treatment of sick persons but we are unaware about the adverse effects of the garbage and filth generated by them on human body and environment. Now it is a well established fact that there are many adverse and harmful effects to the environment including human beings which are caused by the “Hospital waste” generated during the patient care. Hospital waste is a potential health hazard to the health care workers, public and flora and fauna of the area. Hospital acquired infection, transfusion transmitted diseases, rising incidence of Hepatitis B, and HIV, increasing land and water pollution lead to increasing possibility of catching many diseases. Air pollution due to emission of hazardous gases by incinerator such as Furan, Dioxin, Hydrochloric acid etc. have compelled the authorities to think seriously about hospital

 

  1. Keeping the Hospital staff equipped with latest knowledgein the new millennium in clinical, technical and managerialcompetence is the need of the hour. Identify some newmethods to achieve the objective.

Answer:

 

 

  1. List out the various areas of Hospital Administration. Reviewthem in your own style.

Answer: Hospital administration is the management of the hospital as a business. The administration is made up of medical and health services managers — sometimes called health care executives and health care administrators — and their assistants. Administrations range in size, and the duties of the administrator vary with the size and complexity of the hospital.

  • Range of Duties: Administrators are liaisons between hospital boards, other administrators and medical staff. They coordinate hospital activities and formulate its overall politices. Some administrators are in charge of hiring doctors and other staff, performing employee evaluations and directing staff meetings. They may also be responsible for the hospital’s public relations and fundraising programs. Because administrators develop programs for teaching and research hospitals, they must keep up with the latest advances in medicine.
  • Administration Sizes: Large hospitals have several administrators and assistant administrators managing different departments while one administrator is in charge overall. In smaller hospitals, one administrator may be in

 

  1. What do you understand by the term MBO? Apply theconcept to the Hospitals with appropriate examples.

Answer: Management by objectives (or MBO) is a personnel management technique where managers and employees work together to set, record and monitor goals for a specific period of time. Organizational goals and planning flow top-down through the organization and are translated into personal goals for organizational members. The technique was first championed by management expert Peter Drucker and became commonly used in the 1960s.

The core concept of MBO is planning, which means that an organization and its members are not merely reacting to events and problems but are instead being proactive. MBO requires that employees set measurable personal goals based upon the organizational goals. For example, a goal for a civil engineer may be to complete the infrastructure of a housing division within the next twelve months. The personal goal aligns with the organizational goal of completing

 

 

  1. Based on your study, establish certain Managementtechniques for the administrative Improvement andAdministrative Reforms of Hospitals.

Answer:Administration or to be very specific,the Bureaucracy from a traditional point of view has always been change resistant,opaque and rigid. Therefore,in today’s times,where the world is become a global village and the concept of Welfare State and Good Governance looms large it has become imperative to transform the administrative machinery and reform it for the best results in order for it to remain important and not become obsolete.Therefore, administrative improvement and reforms are a priority. So, today we will discuss this very important aspect of administration.

ADMINISTRATIVE IMPROVEMENT:

It is an artificial inducement of administrative transformation against resistance.A.F Leaman asserts that Administrative reforms are an effort to mitigate the gap between reality and what is desirable of the administration. And this transformation is for a

 

 

 

Case Studies(20X2=40)

Case No.1

Issues to be Discussed

 

  1. 1. Facts of the case.

Answer: The hospital’s employment specialist assists applicants in applying for appropriate jobs based on their qualifications and communicates with them throughout the application process. In several departments, applicants undergo a peer interview to ensure that the appropriate candidate is selected for the position.

Once hired, new employees attend an orientation where they learn the importance of organizational values, expectations of employees, customer service, etc. The hospital’s values play a crucial role in the culture of the organization, and employees are expected to continually exhibit these values and behaviors.

 

 

  1. 2. By making additional study, Analyse the means to achievethe major objectives as stated in the case.

Answer: Turnover in any company is normal. Exciting job offers or personal reasons cause many employees to turn in their resignations. However, when a high percentage of your employees choose to leave the company, you are faced with the consequences. High turnover rates result in your time spent finding a replacement and walking that individual through the training process. Additionally, your company’s productivity suffers as work is placed on hold until the new hire’s training is complete, or as the new person makes large errors while getting accustomed to the work. The hiring process and other productivity losses may also result in high, unnecessary costs.

  • Decrease turnover rate:When you create a job description for applicants, be accurate and truthful. Explain in detail what the job entails and do not be vague about the expectations of the position. Many employees accept job

 

  1. 3. How would you address the workforce problems as given inthe case effectively?

Answer: The organization’s culture has created a pleasing environment for both employees and patients. Employees are on a first name basis with one another, they acknowledge each other when passing in the hall, and they always take time to help their colleagues.

This program strives to open the lines of communication between administration and employees by holding monthly luncheons with administrators and employees. Each month, several employees are selected at random to attend the luncheon. The luncheons give employees the opportunity to share ideas and concerns with administrators; administration’s motto is “If you don’t say it, I can’t hear it.” This ethic allows employees to have ownership in the

 

 

 

Case No 2

Hospital Waste Management: A Case Study ofChandigarh Administration

Issues to be discussed

  1. 1. Facts of the Case.

Answer: Hospital waste is the term used to denote unwanted material produced by various medical processes carried out in medical treatment and other laboratory procedures. Hospital wastes comprise both infectious and non-infectious wastes generated in the different sections of a hospital, which if not properly collected, transported or disposed-off, may cause cross-infections in the hospital and pose a major public health hazard and environmental pollution.

The “City beautiful”, Chandigarh has made the implementation of the bio-medical waste rule, 1998 possible by installation of incinerators in PGI, Medical College & Hospital, Sector-32 and in the process of starting incinerator in General Hospital, Sector-16, Chandigarh.

Private Nursing Homes also produce almost equal amount of Solid Waste and bio-medical waste, but they don’t have any independent facility available

 

 

  1. 2. Analyze the different categories of waste as discussed inthe case in your style by making additional study.

Answer: Hospital waste is the term used to denote unwanted material produced by various medical processes carried out in medical treatment and other laboratory procedures. Hospital wastes comprise both infectious and non-infectious wastes generated in the different sections of a hospital, which if not properly collected, transported or disposed-off, may cause cross-infections in the hospital and pose a major public health hazard and environmental pollution.

The waste can be classified into the following categories

  1. General Waste:This includes domestic type of

 

  1. 3. Comment on the framed categories which are 10 innumber.

Answer:Ten numbers of categories have been framed:

(i) Human anatomical waste: All human anatomical wastes and all wastes that are human tissues, organs, or body parts removed by trauma, during surgery, autopsy, birth, research studies, or another hospital procedure, and which are intended for disposal. Pathological waste differs from anatomical waste in that these are typically samples of tissues that are examined in a laboratory setting to understand the nature of the disease or make a diagnosis. For the most part, pathological waste refers to very small tissues sections and body material derived from biopsies or surgical procedures that are then examined in the lab. Anatomical wastes are typically distinguished as recognizable human organs, tissue and body parts, and may require special treatment under some state regulations. Some states do not consider hair, teeth and nails to be pathological/anatomical waste.

(ii) Animal waste: Many facilities have

 

 

  1. 4. How would you deal with the problem of Hospital wastemanagement (Add on to the suggestions given in the case)

Answer: Proper management of various types of waste is essential for the upkeep of hospital sanitation. Segregation at source, safe transfer, requisite treatment and disposal through cost effective technologies can bring about significant changes. Infectious waste from hospital and health care Establishments contain pathological wastes, used disposable, semi-wet products (the used blood bags etc.) This waste is often thrown into the community bins instead of being properly treated and disposed-off.

Presently in most Government hospitals and Pvt. Nursing Homes there is no specialized system of handling, collection, transportation and disposal of

 

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Hospital Administration

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AEREN FOUNDATION’S                                                                              Maharashtra Govt. Reg. No.: F-11724

 

 

 

 

 

 

 

 

 

 

 

 

SUBJECT: Hospital Administration

 

TOTAL : 80 MARKS

 

10 marks each

 

  1. What is hospital and define Hospital Administration?

 

Answer : A hospital is a health care institution providing patient treatment with specialized staff and equipment. The best-known type of hospital is the general hospital, which has an emergency department. A district hospital typically is the major health care facility in its region, with large numbers of beds for intensive care and long-term care. Specialised hospitals include trauma centres, rehabilitation hospitals, children’s hospitals, seniors’ (geriatric) hospitals, and hospitals for dealing with specific medical needs such as psychiatric problems (see psychiatric hospital), certain disease categories. Specialised hospitals can help reduce health care costs compared to general hospitals. A teaching hospital combines assistance to people with teaching to medical students and nurses. The medical facility smaller than a hospital is generally called a clinic. Hospitals have a range of departments (e.g., surgery, and urgent care) and specialist units such as cardiology. Some hospitals will have outpatient departments and some will have chronic treatment units. Common support units include a pharmacy, pathology, and radiology.

 

 

 

 

 

  1. What do you mean by personnel administration in hospital?

 

Answer : A hospital is a bustling treatment center for patients, and a complex, interdisciplinary workplace for healthcare personnel. One person is responsible for keeping this symbiotic infrastructure running smoothly – the hospital administrator.

 

As the head of operations, a hospital administrator oversees clinical units, departments or an entire hospital. These professionals manage personnel, finances and facility practices according to a distinct set of policies and procedures established by trustees. They keep abreast of new laws and regulations in the industry and advances in medicine and medical technology. A hospital administrator also represents the institution she

 

 

 

  1. What is the difference between hospital management and hospital administration?

Answer : The field of healthcare is growing by leaps and bounds, and the healthcare industry is estimated to contribute around six million new jobs to the workforce over the next decade. This represents a nearly 30 percent growth in jobs from the healthcare field alone. There are many different career paths that a student can take, whether your interest ultimately lies in healthcare administration jobs, healthcare management jobs, or some other facet of the medical and healthcare field. A great place to start can be earning a healthcare administration or healthcare management degree online or offline, which can prepare you to climb to the heights of your chosen career path, regardless of where you may choose to specialize or focus your efforts once you graduate.

 

However, because some terminology used in healthcare can sound surprisingly similar, including terms such as “administration” and “management,” it can be helpful as well to learn before you enroll in an advanced degree program what the

 

 

  1. What is the scope of hospital administration for MBA students?

 

Answer : ALL labour that uplifts humanity has dignity and importance and should be undertaken with painstaking excellence, said Martin Luther King, Jr. The Master’s in Hospital Administration course is meant for those people who share these sentiments, because job responsibilities range from giving astute guidance in administration to managing the daily affairs of the hospital.

 

Efficient management can play a role in saving more lives. With the advent of medical tourism and rapid development in technologies the health sector is emerging as one of the fastest growing sectors in India. Several corporates and business organisations have forayed into the healthcare sector, thus resulting in the healthcare delivery system becoming more organised, systematic and efficient. Hence, the healthcare industry needs professionals who can handle these challenges.

 

The programmes enable individuals to take

 

.

 

 

  1. What is medical negligence ?

 

Answer : Medical negligence is improper, unskilled, or negligent treatment of a patient by a physician, dentist, nurse, pharmacist, or other health care professional.

 

Negligence is the predominant theory of liability concerning allegations of medical malpractice, making this type of litigation part of Tort Law. Since the 1970s, medical malpractice has been a controversial social issue. Physicians have complained about the large number of malpractice suits and have urged legal reforms to curb large damage awards, whereas tort attorneys have argued that negligence suits are an effective way of compensating victims of negligence and of policing the medical profession.

 

A person who alleges negligent medical malpractice must prove four elements:

(1) a duty of care was owed by the physician;

(2) the physician violated the applicable standard of care;

(3) the person suffered a compensable injury

 

 

 

 

  1. Explain the need for man power planning in hospital.

 

Answer : Manpower Planning is the primary function of the hospital human resource manager but before the stats filling individual jobs, he should consider the overall management problem of making the best use of available human resources. Just as the controller of finance budget for the best use of financial resources, the human resources manager is basically concerned with budget for the best use of human resources. Manpower planning call for the integration of information, formulation of policies and forecasting of future requirements of human resources so that the right personnel are available for the right job at the right time.

 

Manpower planning starts with the analysis of the future needs of the hospital and its objectives. It determines organization structure, decides what jobs have to be filled and what their requirements are.Short-term manpower planning –two year

 

 

 

 

 

  1. Classify hospitals with examples

 

Answer : 1.   (1)   Hospitals are classified as general hospitals, convalescent hospitals, hospitals for chronic patients, active treatment teaching psychiatric hospitals, active treatment hospitals for alcoholism and drug addiction and regional rehabilitation hospitals, and are graded as,

 

(a)   Group A hospitals, being general hospitals providing facilities for giving instruction to medical students of any university, as evidenced by a written agreement between the hospital and the university with which it is affiliated, and hospitals approved in writing by the Royal College of Physicians and Surgeons for providing

 

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HUMAN RESOURCE MANAGEMENT 2

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SUBJECT:-HUMAN RESOURCE MANAGEMENT

 

Q.1. Elaborate on the system of HR Planning. Outline the steps to be undertaken by organizations to effectively engage in HR Planning.

 

Answer : The human resources department is a critical component for employees in any business, regardless of its size. This support system is responsible for everything from payroll to hiring a new employee. Human resource planning is an extended part of this system, and is used to ultimately structure and meet organizational goals.

Background

While a traditional human resource role serves as an administrative control function, human resource planning develops strategies for matching the skills and size of the workforce to organizational needs. In other words, the planning system specifically recruits, trains and restructures the staff/personnel needed to meet business objectives and any changes within the external environment.

 

Responsibilities

Three main responsibilities are important to complete in order to prepare for the planning process. These responsibilities include forecasting the demand for labor, performing a supply analysis, and balancing supply and demand considerations.

 

 

 

Q.2. Discuss the various ways in which the commitment of errors in performance appraisal can be minimized.

Answer : Many managers handle performance appraisals quite poorly. And the result is not only an unpleasant meeting, but one where the manager and his or her staff member never quite understand each other, never quite appreciate the other’s point of view, and never quite settle on appropriate goals for the coming year.

 

It’s almost inevitable that the staff member will end up less happy and less productive than he or she was before!

 

In fact, there are five big mistakes that managers often make in conducting performance appraisals. Fortunately, these mistakes are easily avoided once you make a conscious effort to avoid them.

 

 

Mistake #1: Waiting For The Performance Appraisal To Give Feedback

This is the biggie, and all too common. It’s

 

 

 

 

Q.3. The nature and scope of the Human Resource Management Systems keeps on evolving with the changes in the external and internal environments of organizations. Elaborate on the same. { marks : 20 }

Answer : Human Resource Management (HRM) is the function within an organization that focuses on recruitment of, management of, and providing direction for the people who work in the organization. Human Resource Management can also be performed by line managers.

Human Resource Management is the organizational function that deals with issues related to people such as compensation, hiring, performance management, organization development, safety, wellness, benefits, employee motivation, communication, administration, and training.

Human resource management (HRM) is the strategic and coherent approach to the management of an organization’s most valued assets – the

 

 

 

Q.4. what are some of the traditional and current sources of recruitment used by organizations? What are their pros and cons?

Answer : The balanced selection of the recruitment sources to be used in the organization is a key success factor for the effective recruitment process. The organization can choose from many recruitment sources as it can optimize the recruitment process. The recruitment sources drive the costs, length and quality of the job candidates (including the number of job resumes needed to handle with).

 

The organization has to choose the recruitment sources, which work best for the industry. The organization has to find the unique recruitment sources for the key job positions as it attracts the best job candidates sooner than the competitors in

 

 

 

 

Q.5. How does HRM enable organizations to adapt to the dynamic changes in the environment? Illustrate with examples.

Answer : Human resource management is not a new concept is an adaptation and transforming of older ideas from the twentieth century about the management of people. As we know, people have been working as part of group for thousands of years. Huge numbers of workers were constructing ancient monuments, such as the pyramids or Great Wall of China. An appropriate management, motivate people, and the right strategic make the work effective and successful. In addition human resource management is defined ‘as a strategic and coherent approach to the management of an organization’s most valued assets- the people working there who individually and collectively contribute to the achievement of its objectives’ (Armstrong )

 

 

 

 

 

Q.6. As an HR executive, how would you go about devising HRIS for a mid – sized organization?

 

Answer : Once you’ve established which HRIS model of delivery works best for your business, you need to figure out just what kind of system you want to invest in. The easiest way to divide HRIS vendors is to split them into two categories: suite and niche. Vendors of suite systems offer brawny, many-faceted software applications comprised of multiple HR functions, each of which can be utilized as either an independent module or as part of a more universal package. Vendors of niche solutions, meanwhile, cater to one specific area of HR management, like time and attendance, payroll, or staffing.

 

Both niche and suite solutions have their advantages – it just depends which strategy best suits the needs of your company. A large HRIS suite

 

 

 

 

Q 7 . Discuss the various principles and purposes of promotion and types and purpose of transfers.

 

Answer : In simpler terms, promotion refers to upward movement in present job leading to greater responsibilities, higher status and better salary. Promotion may be temporary or permanent depending upon the organizational requirement. According to Clothier and Spriegel,

 

“promotion is the transfer of an employee to a job which pays more money or one that carries some preferred status.”

 

In the corporate sector employee promotions doesn’t make much difference as that of in government sector. In the government the word promotion is the ultimate desire for an employee for the service rendered by him in the organisation and this is the only way for an employee career development in the government sector. Promotion is the ultimate motivating factor for any employee because moves employee forward in hierarchy of concern organisation added with additional responsibility, higher respect, honour, with increase in grade pay and allowances.

 

 

 

In countries like India, employee promotions are withhold by employers if any enquiry is pending on concerned employee due to his disobedience of duties or misuse of his powers especially in government departments. Until clearance of enquiry pending before COMPETENT AUTHORITY on concerned employee promotion will not

 

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HUMAN RESOURCE MANAGEMENT

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AEREN FOUNDATION’S                                                                              Maharashtra Govt. Reg. No.: F-11724

 

 

 

 

 

 

 

 

 

 

 

SUBJECT:-HUMAN RESOURCE MANAGEMENT

 

Case –1 ( 20 Marks)

 

Questions

 

  1. If you were the programmer, would you want to work at Microsoft? Why or Why not?

Answer : If i were the programmer i would love to work at microsoft but not interested to work like BULL just to become a MILLIONAIRE

 

 

 

 

  1. How many activities in this case can you tie into specific motivation theories? List the

activities; list the motivation theories, and how they apply.

Answer : To my knowledge STOCK OPTION PROGRAM vs MASSAGES(what kind of)

They were applied i

 

 

 

 

 

  1. As Microsoft continues to get larger and its growth rate flattens do you think Management

will have to modify any of its motivation practices? Elaborate.

Answer :  MOTIVATION has a specific purpose but cannot be applied for everything. Management need to consider BITTER REALITIES that could help in making their employees understand what could be done proportional the

 

 

 

  1. Can money act as a motivator? Explain.

Answer : Motivation and performance are very complex issues affected by many factors. No one factor can guarantee motivation or performance in the absence of othercritical factors .Money cannot be effectively substituted for good management. Some people think that money can’t be used to motivate employees and that is truefor some employees, but for a large percentage of the workforce it does not have to be that way.

 

 

 

 

 

Case –2 ( 20 Marks)

 

 

 

Questions

 

  1. What should Atlantic Mutual Management do, if anything, to cope with the aftereffects of

9/11?

Answer:The Management can organize a seminar/ presentation with help from a professional counselor about the various disasters i.e man-made, natural calamity, terrorist attacks etc. with emphasis on how people

 

 

 

  1. How long would You expect employees to be adversely affected by 9/11 if a company

provides no formal assistance for dealing with anger and stress?

Answer :The span of time to decide on the effects of the trauma would be really difficult as it would wary according to each one’s

 

 

 

  1. What, if anything, should Management do about employees who appear to be suffering from

such kind or trauma and stress, but will neither admit it nor accept help from their employee?

Answer :The Management can propagate CSR initiatives with keeping community welfare as its theme. Voluntary Social work and Helping out

 

 

 

  1. Outline the role of HR specialist in providing a safe and healthy environment for employees

Answer : HR Specialist is the effective change agent for providing a safe and healthy environment to the employees. He needs to understand the emotions of individuals and their concerns as well as the group matrix within the organizations to which

 

 

 

Case –3( 20 Marks)

 

Questions

 

  1. Do you think the company has any orientation programme? If yes, discuss its effectiveness.

 

Answer : No according to me the company hasn’t provided any orientation program. Because when one join a new company often have lots of questions about the structureof their new company, its culture, and its goals. A good orientation program cananswer many of those questions and start off new employees working in the rightdirection.Orientation is a programs which can take place in-house or off-site, with audio-visual tools

 

 

 

 

  1. If employees were properly selected, there should be no need for an orientation programme”.

Comment on the statement.

 

Answer : I do not agree on the statement that if employees were properly selected there should be no need for an orientation programme this situation will not helpemployee how much good he is and also results in the poor results to the organisation because giving a proper orientation program can leads to:

 

To Reduce Start-up-Costs

Proper orientation can help the employee get “up to speed” much more quickly, thereby reducing the costs associated with learning the job.

 

  1. To Reduce Anxiety

 

 

  1. If You were Patil, how would you react to the above situation?

Answer : If I was Patil, I wouldn’t be angry because it was Patil’s mistake not to take consent before placing an order in his

 

 

  1. Discuss the purpose of orientation. What are various requisites of an effective programme?

 

Answer : Purposes of Orientation

 

Employers have to realize that orientation isn’t just a nice gesture put on by the organization. It serves as an important element of the recruitment and retention process. Some key purposes are:

 

  • To Reduce Startup Costs: Proper orientation can help the employee get up to speed much more quickly, thereby reducing the costs associated with learning the job.

 

  • To Reduce Anxiety: Any employee, when put into a new, strange situation, will experience anxiety that can impede his or her ability to learn to do the job. Proper orientation helps to reduce anxiety that results from entering into an unknown situation, and helps provide guidelines for

 

 

 

 

Case –4 ( 20 Marks)

 

Questions

 

  1. According to You, why did the Bs1110 Scheme succeed and the TQM Scheme failed in ABC

engineering? Define the term “workers” participation in management. Bring out the prerequisites for its success.

 

Answer : Bs1110 Scheme succeed because a total quality Management Scheme was introduced to increase efficiency and quality control. Throughout the 1990’s, more flexible arrangements had been introduced together with a breakdown of old work demarcation lines. Machines were now built by flexible teams of workers employing different skills like fitters, electricians, hydraulic engineers, etc.

 

TQM Scheme failed because team leaders had felt uncomfortable in their roles and there has been a lot of skepticism from some of the workers.

 

 

 

 

  1. Explain in your own words what empowerment means to You. Also discuss “A worker is a

worker, a Manager a Manager and never the two shall meet.” Do You agree? Why?

 

Answer : Empowerment means to gain knowledge and understanding. Self empowerment means to gain knowledge and understanding of the self. Think of it like this. If you knew absolutely nothing about a car and its inner workings, and the car broke down somewhere far from home. You would have no idea what to do to fix the car, so that you can go on. Yet if you had a good knowledge and understanding of the car and its inner workings then you could figure out what needs to be done, get the tools and spares to do it, and fix it. In this situation you would be empowered (feel empowered) for you would know what to do to get yourself going again. You would not just sit in the car and wait for someone to come and sort out the problem for you.

 

So self-empowerment means to gain

 

 

  1. What suggestions would You give to a similar company who were thinking of introducing

Total Quality Management to make it a success?

 

Answer : A core definition of total quality management (TQM) describes a management approach to long–term success through customer satisfaction. In a TQM effort, all members of an organization participate in improving processes, products, services, and the culture in which they work.

 

The Primary Elements of TQM

 

Total quality management can be summarized as a management system for a customer-focused organization that involves all employees in continual improvement. It uses strategy, data, and effective communications to integrate the quality discipline into the culture and activities of the organization.

 

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MU0013: HR AUDIT

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ASSIGNMENT

 

DRIVE WINTER FALL 2014
PROGRAM Master of Business Administration- MBA
SUBJECT CODE & NAME MU0013: HR AUDIT
SEMESTER 4
BK ID B1735
CREDITS 4
MARKS 60

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

 

 

1 Define Human Resource Planning (HRP).Discuss the objectives of Human Resource Planning.

 

Answer : Human resources planning includes strategic management of a department responsible for your work force. In the human resources professional community, one of the topics revisited over and over is getting involved in organizational objectives to make an impact on business success. Your company can attain its goals by including the human resources department in matters that affect the business overall. In the meantime, your human resources has its own objectives, which can be integrated into the organizational objectives.

 

Raising Level of Job Satisfaction

Human resources planning today has a number of timely issues leaders recognize as objectives that will improve the workforce. One of the goals is raising the level of job satisfaction. You can measure job satisfaction through employee opinion surveys,

 

 

 

Q.2 Suppose you have joined as an HR and you are asked to carry out the HR Audit process in your organization. What are the methods you will consider while implementing the HR Audit process?

 

Answer : Human resources audit tools help you conduct thorough evaluations of your human resources effectiveness. You can use these tools to help you identify HR processes that are functioning well and those that require improvements. Common HR areas you should audit include your compensation system, performance appraisal systems, policies and procedures and health and safety practices.

Interviews and Questionnaires

Interviews and questionnaires help you acquire feedback from all of your employees, including top management. These tools are ideal when you want to get a better understanding of the work your employees perform. You can find out about their

 

 

 

 

3 What are the areas of HR Audit? Explain any four of them

 

Answer : Areas of HR Audit

A regular human resources audit can improve the services your HR department renders to both employees and applicants. It can also determine whether your organization is in compliance with labor and employment laws. Auditing all of your HR practices and functions can take time and resources. Small businesses without enough staff to devote their full-time attention to an audit should consider hiring an external consultant to evaluate their HR systems. Whether you use in-house resources or an external consultant to conduct your HR audit, follow an outline to keep your audit focused.

Personnel Files

The starting point for an HR audit is up to the department lead; however, it’s reasonable to begin with an audit of your company’s personnel files. Review the department’s system for handling file materials, whether copies of employment actions are immediately filed in the appropriate folders and if the files containing health and

 

 

 

 

 

4 What do you mean by HR Scorecard? Explain the steps undertaken to approach a Human Resource Scorecard.

 

Answer : The HR Scorecard Approach

HR creates value by engaging in activities that produce the employee behaviors the company needs to achieve strategic goals. Managers use an HR Scorecard to measure the HR function’s effectives and efficiency in producing these employee behaviors and thus in achieving the company’s strategic goals. The HR Scorecard – shows the causal link between the HR activities, and the emergent employee behaviors, and the resulting firm-wide strategic outcomes and performance.

 

  1. Creating a HR Scorecard – Three types of information are needed to create a HR Scorecard.

 

 

 

 

Q.5 Write a brief note on the effectiveness of Human Resource Development Audit as an intervention.

 

Answer : Perhaps India is the first country to formally establish a totally dedicated HRD (Human Resources development) Department separated from the Personnel Department. This was designed in the year 1974 when the term HRD itself was not very popular in the USA. Two consultants from the Indian Institute of Management , Ahmadabad after reviewing the effectiveness of the performance appraisal system and training in Larsen & Toubro recommended an Integrated HR System to be established and the department dealing with development issues be separated out from the personnel department and be called the

 

 

 

 

6 Write a short note on the following:

a)Flanholtz model(Rewards evaluation model)

Answer : Why do some entrepreneurs succeed, while others with ventures that seem equally promising, experience difficulties and even failure?

 

Eric Flamholtz, Professor of Human Resource Management & Organizational Behaviour in the Anderson Graduate School of Management, suggests that firms that succeed in the long term have progressed successfully through six key tasks:

 

  • Identification and definition of a viable market niche

 

  • Development of products or services for the chosen market niche

 

  • Acquisition and development of

 

 

 

 

  1. b) Pekin Ogan model

Answer : Pekin, as he prefers to be called, teaches Managerial Accounting with flawless engagement, focusing on class discussion and endless whiteboard brainstorms as the primary source of learning. He sings, dances, loves his wife, hates the “word” incentivize (it should be motivate), and lives for teaching. Pekin indirectly teaches from a triple-bottom-line management perspective, where people, profits and planet have to play nice

 

 

 

 

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MU0012 – Employee Relations Management

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ASSIGNMENT

 

DRIVE WINTER Fall 2014
PROGRAM Master of Business Administration- MBA
SUBJECT CODE & NAME MU0012 – Employee Relations Management
SEMESTER 4
BK ID B1734
CREDITS 4
MARKS 60

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

 

1 Define Strategy. Describe the different strategy levels in an organization

 

Answer :  Strategy has been studied for years by business leaders and by business theorists. Yet, there is no definitive answer about what strategy really is.

 

One reason for this is that people think about strategy in different ways.

 

For instance, some people believe that you must analyze the present carefully, anticipate changes in your market or industry, and, from this, plan how you’ll succeed in the future. Meanwhile, others think that the future is just too difficult to predict, and they prefer to evolve their strategies organically.

 

 

 

 

4 What do you mean by Human Resource Information System (HRIS)? Describe the various modules of HRIS. Discuss some of the HRIS software.

 

Answer : HRIS, which is also known as a human resource information system or human resource management system (HRMS), is basically an intersection of human resources and information technology through HR software. This allows HR activities and processes to occur electronically.

 

To put it another way, a HRIS may be viewed as a way, through software, for businesses big and small to take care of a number of activities, including those related to human resources, accounting, management, and payroll. A HRIS allows a company to

 

 

 

 

Q.3 As an HR of a Company, you are asked to focus on the causes of Grievance and the Grievance handling procedure. What according to you are the reasons of Grievance? Explain the pre-requisites you will consider while addressing Grievance handling procedure

Answer : Causes of Grievance:

 

(i) Promotions; (ii) Amenities; (iii) Continuity of service; (iv) Compensation; (v) Disciplinary action; (vi) Fines; (vii) Increments (viii) Leave; (ix) Medical Benefits; (x) Nature of the job; (xi) Payment of wages; (xii) Acting promotion; (.xiii) Recovery of dues; (xiv) Safety appliance; (xv) Superannuation; (xvi) Supersession; (xvii) Transfer; (xviii) Victimization; and (xix) Conditions of work.

 

Pre-requisites of a Grievance Handling procedure:

 

According to Michael j. jucius, the term ‘grievances’ means “any discontent or dissatisfaction, whether expressed or not and whether valid or not,

 

 

4 Discuss the Collective Bargaining Process and its issues

 

 

Answer : Collective bargaining is a process whereby trade unions, representing workers, and employers through their representatives, treat and negotiate with a view to the conclusion of a collective agreement or renewal thereof or the resolution of disputes.

 

A collective agreement is usually an agreement in writing between an employer and a union, on behalf of workers employed by the employer. It contains provisions reflecting terms and conditions of employment of the workers, and conferring to them their rights, privileges and responsibilities.

 

Sometimes the terms “bargaining” and “negotiating” are used to describe the same process. Theoretically, the term bargaining is probably better used to describe the economic interaction between an employer and an employee which is finalized in the individual contract, whether written or unwritten. When an employer hires a worker,

 

 

5 What is a Trade Union and What are its activities? Explain the functions of Trade Unions.

 

Answer : A trade union or labor union is an organization of workers who have banded together to achieve common goals such as protecting the integrity of its trade, achieving higher pay, increasing the number of employees an employer hires, and better working conditions. The trade union, through its leadership, bargains with the employer on behalf of union members (rank and file members) and negotiates labour contracts (collective bargaining) with employers. The most common purpose of these associations or unions is “maintaining or improving the conditions of their employment”. This may include the negotiation of wages, work rules, complaint procedures, rules governing hiring, firing and promotion of workers

 

 

 

6 Write a brief note on the following:

  1. a) Trait theory

Answer : In 1936, psychologist Gordon Allport found that one English-language dictionary alone contained more than 4,000 words describing different personality traits. He categorized these traits into three levels:

 

  • Cardinal Traits: These are traits that dominate an individual’s whole life, often to the point that the person becomes known specifically for these traits. People with such personalities often become so known for these traits that their names are often synonymous with these qualities. Consider the origin and

 

 

 

b)ERG theory

Answer : Alderfer’s ERG Theory

ERG theory was developed by organizational behavior scholar Clayton Alderfer to everyone the problems with Maslow’s needs hierarchy theory. ERG theory groups human needs into three broad categories: existence, relatedness, and growth. (Notice that the theory’s name is based on the first letter of each need.) As Exhibit 5.1 illustrates, existence needs correspond to Maslow’s physiological and safety needs. Relatedness needs refer mainly to Maslow’s belongingness needs. Growth needs correspond to Maslow’s esteem and self-actualization needs.

 

Existence needs include a person’s physiological and

 

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