MB0045 – FINANCIAL MANAGEMENT

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ASSIGNMENT

 

   
DRIVE SUMMER 2014
PROGRAM MBADS / MBAN2 / MBAHCSN3 / PGDBAN2 / MBAFLEX
SEMESTER II
SUBJECT CODE & NAME MB0045 FINANCIAL MANAGEMENT
BK ID MB0045
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. TCS has emerged as India’s most admired company ahead of Hindustan Unilever, ITC, and Infosys, says global management consultancy Hay Group. TCS replaced last year’s winner group company Tata Steel by scoring highest on parameters such as corporate governance, financial soundness, and talent management. Two criteria in particular, Leadership, and Creating Shareholder Value separated the winners.

How do you think effective interaction between HR and finance department of a firm helps in achieving its skills?

Do you think that TCS has preferred the profit maximization approach over the wealth maximization approach?

 

Answer : Interaction between HR and finance functions

Finance departments today are under enormous pressure to change. Much of the work they’ve traditionally done has been outsourced, commoditized or automated. Now they’re expected to partner with the business, helping their organizations achieve their strategic goals while using data in innovative ways to deliver more value-added services. Yet many finance leaders find themselves stuck, unable to draw in the type of talent they need and unsure of how to get there.

 

Does all this sound familiar?

 

Finance and HR are both finding that the roles they’ve traditionally played are becoming obsolete. Both functions need new skill sets and capabilities to meet the more strategic responsibilities that today’s companies are placing before them.

 

 

 

  1. A) The current price of an Ashok Leyland share is Rs. 30. The company is expected to pay a dividend of Rs. 2.50 per share which goes up annually at 6%. If an investor’s required rate of return is 11%, should he or she buy this share or not?

 

Answer :

Interest payable rate =  6%

Principal repayment is Rs. 30

Required rate of return is 11%.

P0 = D1/(1+Ke)

 

 

B) A bond with a face value of Rs. 100 provides an annual return of 8% and pays Rs. 125 at the time of maturity, which is 10 years from now. If the investor’s required rate of return is 12%, what should be the price of the bond?

 

Answer : Formula used to calculate desired amount is :

 

V0=I*PVIFA(kd, n) + F*PVIF(kd, n)

Here ,

I = interest payable

PVIFA = present value interest factor of annuity

PVIF = present value interest factor

kd = Required rate

 

 

 

  1. a) How do you think the trend of capital structure across the Indian corporates affect the economy as a whole?

 

Answer : The financing pattern of capital structure is becoming more and more important in the changing world of modern business. There are very strong pressures from the stakeholders to maximize their returns in the short-run and long-run. Thus the capital structure of company has emerged as a debatable global issue among the finance and accounting professionals and research scholars to fulfill the need of harmonization of corporate equity financing throughout the world. After the liberalization of Indian

 

 

b) What proportion of debt and equity should be taken up in the capital structure of a firm?

 

Answer : Modigliani and Miller’s Capital-Structure Irrelevance Proposition

The M&M capital-structure irrelevance proposition assumes no taxes and no bankruptcy costs. In this simplified view, the weighted average cost of capital (WACC) should remain constant with changes in the company’s capital structure. For example, no matter how the firm borrows, there will be no tax benefit from interest

 

 

 

c) Discuss the theories that are propounded to understand the relationship between financial leverage and value of the firm.

 

Answer :

Modigliani and Miller’s Trade off Theory of Leverage:

 

The trade off theory assumes that there are benefits to leverage within a capital structure up until the optimal capital structure is reached. The theory recognizes the tax benefit from interest payments – that is, because interest paid on debt is tax deductible, issuing bonds effectively reduces a company’s tax liability. Paying

 

 

 

 

  1. HPCL was established in 1952, operates from 500 different locations, including refineries, terminals, LPG plants, aviation service facilities, etc. They developed a Lotus Notes workflow tool and deployed it across the organisation so that any capital investment proposal from any operating location in the country can be routed to relevant reviewers and approving authorities. With the implementation of the new online system, the total cost savings as a result of reduced man-hours amounts to about Rs 25 lakh per annum.

 

  1. What do you think would have been the complexities involved in implementing this new project at HPCL?

 

Answer : The implementation of new projects like Lotus notes workflow tool has many advantages as it has helped in increasing the profit of the company. It has many complexities that hinder its implementation properly. An online venture may experience higher product returns because its customers did not get the product they wanted or there was damage during shipment. Product returns reduce net sales, which can

 

 

  1. What are the various phases in the capital budgeting process? To what extent do you believe that automation can ease out the process?

 

Answer :

 

1: Identification - Identify which types of capital expenditure projects are necessary to achieve the organization’s goals, objectives, and strategies.

 

2: Search - Explore several different capital expenditure investment alternatives that have the capacity to achieve the organizational objectives and strategies.

 

 

 

 

  1. A) Indicate whether the operating cycle in the following industries is short (less than 30 days), medium (less than 6 months) or long (more than 6 months)

Steel, rice, vegetables, fruits, jewellery, processed food, furniture, mining, flowers and textiles

 

Answer :  An operating cycle is the length of time between the acquisition of inventory and the sale of that inventory and subsequent generation of a profit. The shorter it is, the faster a business gets a return on investment (ROI) for the inventory it stocks.

Vegetables , fruits , flowers

 

 

b) Companies with the shortest working capital cycles have current ratios much lower

than the firms with longer cycles. What is your view on this statement? How do you think the operating cycle affects operating profit margins?

 

Answer :  When a business buys inventory, it ties up money in the inventory until it can be sold. This money may be borrowed or paid up front, but in either case, once the business has purchased inventory, those funds are not available for other uses. The business views this as an acceptable trade off because the inventory is an investment that will hopefully generate returns, but keeping the operating cycle short is still a goal for most businesses so they can keep their liquidity high.

There are cases where

 

 

c) Discuss the relationship between working capital management and market performance of a company? Do you think the kind of relationship varies depending on the type of industry?

 

Answer : WCM is among the most important decisions taken by the financial manger. It directly affects the profitability and is considered one of the most important parts of financial decision making . Net working capital is the excess of current assets over current liabilities of a firm. It determines the strength of the business and its liquidity position means more the working capital more the liquidity of the firm.

Implementing an effective working capital management system is an excellent way for many companies to improve their

 

 

 

  1. Nirma acquired Core Healthcare Ltd. in FY 2007. To bring about improvement in terms of liquidity in the script of the Company , it has gone for a stock split because it hasn’t had any buyback in the recent past. Nirma paid Interim dividend in 2007 to avoid the higher dividend tax announced in that year’s budget.

Henkel, on the other hand, has a very weak Dividend Policy. The major reason being that the company has weak operations and low margins. There is no record of Stock Splits and Buybacks by Henkel India in the past.

Discuss the dividend polices of these two companies.

 

Answer : Dividend is a payment made by a company to its shareholders usually as a distribution of profits. When a company makes profit it can either re-invest it in the business or it distribute it to its shareholders by way of dividends. The dividend payout ratio is the amount of dividends paid to shareholders relative to the amount of total net profit of a company.

 

Dividend policy of Nirma :

 

Nirma has had a healthy dividend policy (since 1994). In the last few years, Nirma has tried to maintain a Dividend/ Share of (arou

 

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MB0044 – PRODUCTION AND OPERATION MANAGEMENT

 

 

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Summer 2014

 

MBA II SEMESTER

 

MB 0044 – PRODUCTION AND OPERATION MANAGEMENT – 4 CREDITS

 

(BOOK ID B1627)

 

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. Explain the four basic varieties of layouts for manufacturing facilities.

(Process layout – 4 marks; Product layout- 3 marks; Group technology layout – 2 marks; Fixed position layout – 1 mark) 10 marks

 

Answer :  Basic varieties of layouts for manufacturing facilities:

 

Facility layout means planning for the location of all machines, utilities, employee workstations, customer service areas, material storage areas, aisles, rest rooms, lunch rooms, drinking fountains, internal walls, offices, and computer rooms, and for the flow patterns of materials and people around, into, and within buildings.

 

  1. Process layout :

 

  1. The major decision areas in supply chain management have both strategic and operational elements .Explain these decision areas in detail.

(Location decisions; Production decision; Inventory decisions; Transportation decisions- 10 marks, i.e 2.5 marks each)10 marks

 

Answer : The major decision areas in supply chain management:

 

Location decisions:

 

The geographic placement of production facilities, stocking points, and sourcing points is the natural first step in creating a supply chain. The location of facilities involves a commitment of resources to a long-term plan. Once the size, number, and location of these are determined, so are the possible paths by which the product flows through to the final customer. These decisions are of great significance to a firm since they represent the basic strategy for accessing customer markets, and will have a considerable impact on revenue, cost, and level of service.

 

  1. Business process is a total response that a business undertakes utilizing the resources and delivering the outputs that create a value for the customer. Business process modeling refers to a set of activities undertaken to optimize the business process. Business process modeling can be categorized into two parts – Logical processing modeling and physical process modeling. Explain in detail of the two processes of modeling.

(Logical processing modeling : Definition – 1 mark , Steps to be followed to make the work smoother – 2 marks, Explanation of logical process model including what it consists of , represents, improves and identifies; logical modeling formats ;ways of representing logical process modeling – 4 marks; physical process modeling including definition, what it deals with , why objects during physical modeling vary on the database software being used, outcomes- 3 marks) 10 marks

 

Answer : Logical processing modeling:

 

Logical Process Modeling is the representation of a business process, detailing all the activities in the process from gathering the initial data to reaching the desired outcome. Logical process modeling methods provide a description of the logical flow of data through a business process.

 

Steps to be followed to make the work smoother:

 

These are the kinds of activities described in a logical process model:

 

  1. In the recent times, operations are considered from end to end of value chain which means the operations that start from sourcing of materials and other inputs to successful delivery of products to customers or end users. Implementation is the process of executing the planned operations. When planning and controlling functions are put together, we call it as Implementation of Operations. Tools for implementation are a set of

specialized techniques which can be standardized for ease of implementation and control . Write a brief note on “implementation of operations” and tools for implementation.

(Explanation of planning , controlling – 1 mark; Implementation of operations :Estimating, Routing, Scheduling, Dispatching and Expediting – 5 marks, i.e. 1 mark each , Tools for implementation : Gantt charts – 1 mark, Line balancing and line of balance – 0.5 marks, Simulation models – 1 mark , Proper maintenance and analysis of records – 0.5 marks; software – 1 mark)

 

Answer : Planning and controlling functions of operation management :

 

Planning means looking ahead and chalking out future courses of action to be followed. It is a preparatory step. It is a systematic activity which determines when, how and who is going to perform a specific job. Planning is a detailed programme regarding future courses of action. While Controlling consists of verifying whether everything occurs in conformities with the plans adopted.

 

  1. It is possible to work according to the project plan only by careful monitoring of the project progress. There are various steps involved in monitoring and controlling a project from start to end. One of the steps is progress control of a project which can be achieved by completing certain steps. Explain the steps of progress control.

(Monitor performance, Update schedule, Update costs, Re-plan stage schedule, Conduct team status review, Create status report, Create flash report, Project status reports – 10 i.e. 1.25 marks each) 10 marks

 

Answer :  Steps of progress control:

 

 

The project progress depends on many factors. All the factors contribute equally in monitoring and controlling the project. The step of progress control is the important one. The progress control of a project can be achieved by considering the following:

 

  1. Monitor performance:

 

The first step for any project control mechanism is to monitor the progress. There are numerous ways to monitor and measure various project parameters.

 

 

  1. Value analysis is a methodology by which we try to minimize the cost and improve the revenue of a product or an operation. Value analysis looks at the manufacturing activities with a view to make the components simpler, processes faster, and the products better. Explain the process of value analysis.

(Explanation of steps : Data gathering, Analysis and valuation of functions, Idea generation and evaluation of substitutes, Implementation and regulation – 10 marks i.e.2.5 marks each )

 

Answer : Process of value analysis :

 

There are four steps involved in the process of value analysis.

 

  1. Data gathering:

 

All relevant information concerned with the product and the parts that go to make it are collected. The concerned at this stage are raw material used, its dimensions , characteristics, availability , lead time , storage and rate of consumption. All questions regarding each of them are asked. The available information is recorded and when information is not available , tags can be attached for information gathering at later date. No information should be considered irrelevant.

 

 

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SUBJECT : TOTAL QUALITY MANAGEMENT

 

Total Marks : 80

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Case Study -1

  1. Define the terms internal customer and external customer?

Answer: A customer is some person or organization that uses an output from a different person or organization. Customers are defined as internal and external to an organization. External customers are most common in sales where a company sells a product to a customer. Internal customers are persons or departments who rely on output from another department of the same organization to accomplish their own function. A typical example of an external customer is a grocery shopper who goes to a market to buy goods. This person is from outside

 

  1. Is the main concern of most consumers the price bf the product or service? Explain?

 

Answer: Resolving disputed invoices costs some industries (for example, the consumer packaged goods industry) a great deal of time and money. Customers deduct disputed invoices from payments and staff members spend valuable time investigating and researching the reasons for the disputed payment. In addition, prolonged disputes can endanger supplier-customer relations. The extended pricing functions introduced in Release 2.2 enable you to take into account the customer’s expected price. By entering the expected price during sales order

 

Case 2

 

Questions

1) List various techniques to sustain continuous improvement.

Answer: Some experts agree that successful and sustainable continuous improvement teams should be staffed with high potential individuals and the leaders of the organization. Both a position leader and more importantly the person who drives and inspires other people—they are the ones who other people listen to. Some think it’s neat to have a

 

 

2) Working as an individual or in a team of three or more people, evaluate one or more of the following organizations concerning their use of the Juran Trilogy.

(a) Large bank

(b) Health-care facility

(c) University academic department

(d) Ur1iversly academic department

(e) Large department store

(f) Grade school

(g) Manufacturing facility

(h) Large grocery store

Answer: Quality management for macro processes is carried out by use of the Juran Trilogy, which basically consists of three steps

 

Large department store

In most organizations there is a great focus on the Quality Control process, with little or no emphasis on the other two processes; however the well-established and customer focused organizations do have clearly defined and robust process for all

Quality Planning: The quality planning phase is the activity of developing products and processes to meet customers’ needs. It deals with setting goals and establishing the means required to reach the goals. The various steps in the quality

 

Quality Control: This process deals with the execution of plans and it includes monitoring operations so as to detect differences between actual performance and goals. It consists of three steps:

  • Evaluate actual quality

Quality Improvement: The process is for obtaining breakthrough in quality performance, and it consists of several steps:

  • Establish the infrastructure needed to secure annual quality improvement
  • Identify the specific needs for improvement- the improvement projects
  • Establish project teams

 

3) Using a product such as a house, machine, or car, give an example of the four improvement strategies.

Answer: Product strategy amounts to a strategic marketing plan based on price, product, placement and promotion. Each decision you make about the price, product, placement or promotion will affect the overall product strategy. If a product is not selling

4) Give an example of the use of the PDSA cycle in your personal life and in your work experiences.

Answer: In the business world, PDSA — Plan, Do, Study, Act — are steps toward continuous improvement of processes and products. The PDSA Cycle is also called the Deming Cycle, honoring the man who put together a smart plan for Total Quality Management, American statistician W. Edward Deming.

Deming believed in the value of making things better with constant effort over time, rather than churning out quick profits with cheaper materials,

 

5) Select a problem in one of the processes of your daily life and use the seven phases to solve it.

  • Answer: All of us are involved in some kind of problem solving everyday, both in our personal and professional lives. In our families and our work environments we are faced with a multitude of issues that require making decisions made with others. Some of these decisions are small and do not have a long term impact on our lives. Examples of these might be where we will go to dinner tonight, what program we will watch on television, or what movie we will see.  Other decisions are significant and require

 

Case 3

Questions

1) Working as ‘“. individual or in a team of two or three people, develop the to building a better supplier relationship with one of the following organizations

(a) Large bank

(b) Health-care facility

(c) University academic department

(d) University nonacademic department

(e) Large department store

(f) Grade school

(g) Manufacturing facility

(h) Large grocery store

Answer: Relationships between distributors and suppliers range from highly tactical to extremely strategic. A wise distributor constantly attempts to calibrate the relationship with each supplier and makes adjustments to the energy it applies to each relationship. Personnel at all levels of a distributor must be able to describe the current relationship with its suppliers and simultaneously understand how the distributor is attempting to reshape the relationship in

 

 

2) Working as an individual or in a team of two or three people, evaluate one or more of the organizations in Exercise 1 to determine if they are using do Ishikawa’s ten principles.

Answer: Merrill Lynch Credit Corporation (MLCC) offers real estate and securities-based consumer credit products-including home financing, personal credit, investment financing, and commercial real-estate financing-to primarily affluent individuals. About

 

Case 4

Questions

  1. Working in a team of three or more people. What performance measures would you recommend for the following organizations?

(a) Answer: Large bank: Successful bank operation requires managers to weigh complex trade-offs between growth, return, and risk. In recent years banks increasingly have adopted innovative performance metrics based on the concept of economic profit, rather than accounting earnings, to assist managers in making such difficult and complex decisions. Banks hope in this way to elicit better decision-making by managers and also to align

 

(b) Answer: Health-care facility: The quality of health care impacts patients in many ways. High-quality care can speed your recovery from illness or procedures, improve your ability to stay well, and improve your quality of life. Before choosing a healthcare provider, you should look for information about the provider’s performance, visit or call the facility, if possible, and ask your family and friends about their experiences.The Office of Facilities Regulation inspects healthcare facilities to ensure that they adhere to state and federal standards.

 

(c) Answer: University academic department: Measuring the performance of academic departments received little attention compared to other industries due to their complex nature and difficulty in measuring their outputs. However, measures of performance are needed to assess whether they meet their set objectives and foster an

 

(d) Answer: University nonacademic department: Ryerson University makes extensive use of performance indicators and statistics to gauge success in achieving goals and objectives and to foster improvement. Several sets of indicators have been

 

(e) Answer: Large department store: The luxury department stores are more sensitive to an economic cycle, and all department stores in this study demonstrated higher performance in recent years, except for one discount department store that

 

 

(f) Answer: Grade school: A significant accountability and support mechanism for any strategic plan is the identification of a set of coherent and connected data measures that are indicative of the organization’s ability to accomplish its stated goals

 

(g) Answer: Manufacturing facility: Effectively measuring, analyzing, and improving manufacturing metrics is not as simple as it may appear. While there are certain metrics that work well for specific job roles, it’s often the case that there are multiple combinations of metric indicators needed to ensure that a larger business objective is being met.

  • On-Time Delivery to Commit

(h) Answer: Large grocery store: A marketing strategy is a method by which a firm attempts to reach its target markets. Marketing strategy starts with market research, in which needs and attitudes and competitors’ products are assessed and continues through into advertising, promotion, distribution and where applicable, customer servicing,

 

 

  1. Working as an individual or in a team of three or more people. Evaluate the strategy used by one of the organizations listed in Exercise 1.

 

Answer: As part of the Business Planning Process, each July senior managers translate the strategic imperatives into the company’s Critical Few Objectives, key performance measures for their CFOs, and Specific targets for the next one and three years. For example, a CFO to increase process productivity with an aim of increasing shareholder value is measured by the number of days to approve applications, with specific, ambitious, and measurable goals. In turn, these CFOs provide the basis for determining partner performance management plans.

 

Case 5

 

Questions

1) Briefly describe the purpose of an ISO 9000 quality system.

 

Answer: The International Organization for Standardization is the world’s leading organization for standards development. The organization developed the 9000 standard to set the bar for quality management. According to the ISO website, the ISO

2) What is a quality policy statement?

Answer: It is the Policy of the Company to provide services of a consistently high quality to our customers and to establish objectives and processes necessary to deliver results in accordance with customer and legal requirements.
 

3) Describe the four tiers of quality documentation.

Answer:A quality system is the method used to ensure that the quality level of a product or service is maintained.All documentation moves from one level to the next in a descending order. If the system is properly structured, changes at one level will seldom affect the level above it, but may affect those below.

 

4) Determine which element of ISO 9001 is referenced in each of the following situations:

(a) An audit found that no supplier reviews were being performed.

Answer: Perception: The ISO 9001 system is a quality system (belongs in the quality department or is the responsibility of the quality manager), or many organizations feel they need to hire somebody full time to manage the ISO 9001 system (for example, internal audit coordinator, corrective action coordinator, ISO coordinator).

Third-party auditors are there to perform an audit to measure conformance to the company’s documented management system and to the requirements of ISO 9001. It does not matter if they agree or disagree with how a company decides to

 

5) What are the basic differences among the quality systems discussed in the text?

 

Answer: Quality assuarance is process oriented and it refers to all the planned and systematic activities implemented within the quality system that can be demonstrated to provide confidence that a product will fulfill requirements for quality while quality control is product oriented and is the operational tecnics and activities used to fulfill requirements for quality

ISO 9000 quality management (QM) standards have

6) Why is it important to have element owners?

 

Answer:In the earliest stages of business model development, it’s often most helpful to start with the first four elements at the heart of most businesses.

Using the Customer Development process along with the business model canvas first developed by Alexander Osterwalder, it’s possible to assemble a far more detailed version of your “vision” that includes the nine most important elements of any successful business (we’ll get to what those are below). With that in hand, you can validate your

 

7) Why is documentation the most common reason for noncompliance?

 

Answer:When a patient misses (unplanned) three or more consecutive scheduled sessions or has not been to a session in a month (whichever comes first), and you have not been able to contact him/her, consider sending a formal note to the patient acknowledging his/her apparent decision not to attend or resume MM treatment sessions and/or take medication. Your note should encourage the patient to return to MM treatment and/or to resume

 

8) Prepare a list of internal audit questions for three elements.

 

Answer:The internal audit function plays a key role in assessing and reporting on an organization’s risk management, internal controls and management information systems. Directors of companies that have an internal audit function should have a general understanding of its role and contribution. In addition, the audit committee should confirm that the

 

9) Working as an individual or in a team of three or more people. perform an internal audit and write a report on three elements at a local organization.

 

Answer: The role of internal audit is to provide independent assurance that an organisation’s risk management, governance and internal control processes are operating effectively. Internal auditors deal with issues that are fundamentally important to the survival and prosperity of any organisation. Unlike external auditors, they look beyond financial risks and statements to consider wider issues such as the organisation’s reputation, growth, its impact

 

 

10) Describe how a two-party audit system works.

 

Answer: ISO 9000 is not a product registration standard; it in no way measures or recognizes the quality of a company’s product, nor does it mean that two companies with ISO 9000 registrations are equivalent.

 

 

Case 6

 

 

 

Questions

  1. Working individually or in a team, list four or more primary customer requirements for one or more of the following production items or service industries.

Also, refine the primary customer requirements to a second level.

 

Answer: Customers’ needs for accommodation change because of many factors. The main factors are changes in new technology, demands of health and safety, stricter legislation and the need to respond to different working patterns. Businesses have to find solutions quickly to keep up to date. They also need to allow for further changes in the future.

(c) Pizza

 

  1. Working individually or in a team, list six or more primary technical descriptors for one or more of the selections used in Exercise 1. Make an attempt to address all the customer requirements from Exercise 1 and refine the secondary technical descriptors to a second level.

 

Answer: The needs of External Customers are – To receive good quality customer service. – To receive useful and professional advice. – To be kept up-to-date with recent promotions & Products The needs of internal customers are – To have a good

  1. Working individually or in a team, form an L-shaped matrix and complete the relationship matrix, including weights, for one or more of the selections used in Exercises I and 2.

 

Answer:Relationship matrix is a new business development analysis matrix used to analyze the market to find new business opportunity in difficult times.

The matrix operation is very simple like traditional excel

 

Case 7

Quesstions

  1. Briefly describe the difference between sequential engineering and quality by design (or concurrent) engineering.

 

Answer: Sequential engineering is the term used to describe the method of production in a linear format. The different steps are done one after another, with all attention and resources focused on that one task. After it is completed it is left alone and

 

 

  1. List 15 general attributes that a quality’ by design team should consider during the product design phase of product development.

 

Answer: Central to the concept of “employability” is the acquisition of the right attributes, knowledge, skills, attitudes, and competencies in order to increase the likelihood of graduates successfully gaining meaningful employment and fulfilling their potential in their chosen occupations. In the past employability was narrowly defined as the proportion of graduates from an institution that were employed after graduation. But clearly employability is not just a quality of the graduates, or the outcome of their training and education, but also

 

  1. Select members of a quality by design team for the development and production of two or more of the following products. If possible the team should be limited to ten members of different disciplines.

(a) Ballpoint pen

(b) Car windshield sunscreen

(c) Manual can opener

(d) Computer keyboard

(e) Clothes iron

 

  1. Design the workspace for two or more of the items you used in Exercise 3.

 

Answer: The concept of service design has been evolving through the past decade. Service design is a truly interdisciplinary field. With one foot planted in the realm of management consulting and process design, service design takes its other cues from software development, risk management and supply chain management, to name only a few fields that

 

  1. Using trade journals and professional society magazines, list three or more commercially-available software packages for two of the following quality by design tools. Also, try to compare the software packages on the basis of cost, attributes, and performance.

 

Answer:

(b) Computer—aided drafting: Seeing your imaginings materialize and take actual form, now that’s what it’s all about, right? And if you can command your PC to perform all the gory drudgeries of that undertaking, so much the better. Luckily, others have been thinking along that same vein for decades, so today you can enjoy the culmination of all their toil and sweat. It’s called Computer Aided Design. Keep in mind of course that this sort of software tends

 

Case 8

 

Questions

1) Write a warning label or operating instructions for the following products:

 

Answer:

a) Trampoline:

  • Be sure the Trampoline and enclosure is on a level surface before each use.
  • Be sure there is enough clearance above the Trampoline before using it. It is necessary to have at least 24 feet of clear space above the ground. This includes, but is not limited to, wires, tree limbs, and/or any other possible hazards.
  • Lateral (sideways) clearance is imperative. Place the Trampoline a minimum of 6 feet away from walls, buildings, fences, sidewalks, and other

b) In-line skates:

  • Bicyclists, in-line skaters, and non-motorized scooter operators under the age of 14 are required by law to wear an approved safety helmet.
  • Bicyclists and in-line skaters must obey all traffic signals, signs and pavement markings. Bicyclists must also signal for turns

c) Cars:

  1. The Warn Recovery Strap stretches when pulled then retracts to help free a stuck vehicle.
  2. Line up the rescue vehicle as directly as possible in front of, or behind the stuck vehicle.
  3. Fully uncoil the strap and attach it to the rescue and stuck vehicles. Heavy-duty receiver hitches and tow hooks are preferred attaching points.

 

d) Power-save:

  • Turn off electrical / heat producing equipments when not in use: lights, TVs, computers etc.
  • Check and clean the Air conditioner filter every month. This will improve cooling, reduce compressor running time and save energy.
  • Keep the doors and windows closed, while using
  •  

e) Fire works:

  • The best way to enjoy fireworks is to visit public fireworks displays put on by professionals who know how to safely handle fireworks.
  • If you plan to use fireworks, make sure they are legal in your area.
  • Never light fireworks indoors or near dry grass.
  • Always have a bucket of water

 

f) A book of a diet drink:

  • Manufacturers and distributors of dietary supplements and dietary ingredients are prohibited from marketing products that are adulterated or misbranded.  That means that these firms are responsible for evaluating the

 

g) Electric Curlers:

  • Switch the tong on using the power button, the digital screen will light up blue.
  • Adjust the temperature using the + and – buttons. The temperature selected will flash until the tong has reached the selected temperature.

 

h) Swimming pool:

  • Children, especially children younger than five years, are at high risk of drowning.
  • Drowning occurs silently and quickly and can occur in as little as 2 in. (5 cm) of water.
  • Keep children in your direct sight, stay close,

 

 

2) Should the products given alone be marketed, or are they unreasonably dangerous?

 

Answer: Because of product liability lawsuits, many manufacturers have made improvements in the safety of their products. In the last 2-3 decades, many unreasonably dangerous products have either been removed from the market, or their designs or warnings have been greatly improved. However, even today, many defective and unsafe products still

 

3) Do those who smoke cigarettes or drink alcohol assume the risk of getting lung or lever disease?

 

Answer:Alcohol and tobacco are among the top causes of preventable deaths in the United States. Moreover, these substances often are used together: Studies have found that people who smoke are much more likely to drink, and people who drink are much more likely to smoke. Dependence on alcohol and tobacco also is correlated: People who are dependent on alcohol are three times more likely then those in the general population to be smokers, and people who are dependent on tobacco are four times more likely than the general population to be

 

 

4) How can the products given in exercise-1 of this case be designed to prevent or to minimize customer misuse of the products?

Answer:Product liability refers to a manufacturer or seller being held liable for placing a defective product into the hands of a consumer. Responsibility for a product defect that causes injury lies with all sellers of the product who are in the distribution chain. Potentially liable parties include: the product manufacturer; a manufacturer of component parts; the wholesaler, and the retail store that sold the product to the consumer.

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TOTAL QUALITY MANAGEMENT

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

AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL

                                                         

 

                                                        

 

 

SUBJECT: TOTAL QUALITY MANAGEMENT

                                                                                                                                            Marks: 80

 

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SUB: TOTAL QUALITY MANAGEMENT

 

  1. B.: 1) All questions carries equal marks.

 

 

  1. 1 which of the gurus would be the father of quality control? Which had the

Greatest impact on management? Which is noted for robust design?

  1. Ans. Which of the gurus would be the father of quality control à A core of quality pioneers shaped current thinking and practice. This section describes some of their key contributions to the field.

Walter Shewhart:-

 

Q 2. Write your personal philosophy or creed?

  1. personal philosophy or creed àPersonal creeds are a little bit like affirmations, with one crucial difference. A creed is more spiritual, what you already strongly believe in rather than what you’d like to become.

 

‘Creed’ is a derivative of the Latin word ‘

 

Q 3. List and explain the six most important factors that influence consumer purchases?

  1. Do you know why your customers are buying from you? Is it your products—the style and quality of your handmade work? Look deeper and you will find that there are many other factors in making a sale that you can use in building your sales volume.

 

It’s no secret that emotions are powerful factors that move people into action and cause them to make a purchase. To increase your sales, you must understand and appeal to them emotionally. There are many other artists and craftspeople out there with wonderful offerings.

 

Q 4. What conditions are necessary for empowerment?

  1. An empowered workplace often makes for a successful workplace. Empowered employees are highly motivated and typically perform at a higher level than employees who feel hopeless or stuck. Creating an empowered work environment requires you to put forth a consistent effort to make employees feel as though they are an important piece of the company. From enabling your staff to make decisions to setting realistic goals, empowerment is created by management.

Q 5. Describe how empowerment, work groups, and multifunctional teams would

Or would not affect the five types of problems?

  1. A many organizations begin restructuring their corporate cultures with empowered employee teams, employees across the organization will be involved in the decision-making process. Truly empowered employee teams can help those organizations improve customer satisfaction, increase employee productivity, increase quality and lower costs.

So what should be expected of empowered employee

  1. 6. Working as an individual or in a team of two or three people, develop a

Supplier selection plan for one of the organizations.

  1. Choosing the right supplier involves much more than scanning a series of price lists. Your choice will depend on a wide range of factors such as value for money, quality, reliability and service. How you weigh up the importance of these different factors will be based on your business’ priorities and strategy.

 

  1. What is a critical success factor? How is it important in benchmarking?
  2. What is a critical success factorà So many important matters can compete for your attention in business that it’s often difficult to see the “wood for the trees”. What’s more, it can be extremely difficult to get everyone in the team pulling in the same direction and focusing on the true essentials. That’s where Critical Success Factors (CSFs) can help.

CSFs, also known as Key Results Areas (KRAs

Q 9. What are the advantages and disadvantages of wireless communication?

  1. Advantages of wireless communicationà

Convenience – The wireless nature of such networks allows users to access network resources from nearly any convenient location within their primary networking environment

Mobility – With the emergence of public wireless networks, users can access the internet even outside their normal work environment. Most chain coffee shops, for example, offer their customers a wireless connection to the

Q 10. What can be accomplished by the addition of a third party registering a quality system?

Ans. For purchasing organizations: Third-party certification to ISO 9001 is not a guarantee that a supplier will provide the quality of service or product specified by customers.

Third-party certification to ISO 9001

Q 11. Visit an organization in your community and determine if their accident and emergency preparedness plan meets the ISO 14001 criteria.

 

  1. This Guide is intended to support and facilitate the development o environmental management systems (EMS) among small and

Q 12. Briefly describe the difference between sequential engineering and quality by design (or concurrent) engineering.

  1. Sequential engineering is the term used to describe the method of production in a linear format. The different steps are done one after another, with all attention and resources focused on that one task. After it is completed it is left alone and everything is concentrated on the next task.

 

 

Q 13. Devise a compensation plan for injured users where the product defect manifests itself in the second or third generation, such as when a man or woman takes a prescribed drug that injures their future children.

  1. The pharmaceutical industry makes sky-high profits that allow them to move quickly from one faulty drug to the next. From 2004 to 2008, Pfizer, one major pharmaceutical company, took in $245 billion. During that same time period, another company, Eli Lilly, made $36 billion from just one of its drugs (Zyprexa).

Q 14. Form a project team of six or seven people, elect a leader, and construct a cause-and-effect diagram for bad coffee from a 22 cup coffee maker used in the office.

  1. Create bar charts for business management problem solving and data comparison using the Concept Draw PRO diagramming and vector drawing software extended with the Bar Graphs Solution from the Graphs and Charts

 

Q 15. Formulate a full factorial experiment to determine what factors affect the

Retention rate in college. Identify four factors each at two levels that you feel

Influence retention rate. For example, one factor could be external work

With two levels, 20 and 40 hours per week.

  1. Retention of an administered antiemetic oral dose and its subsequent absorption during therapy is critically affected by recurrent emesis, a process coordinated by the vomiting centre in the lateral reticular formation of the medulla

Q 16. Given three two-level factors and three suspected two – factor interactions;

Determine the degrees of freedom and the OA.

  1. statistics, the number of degrees of freedom is the number of values in the final calculation of a statistic that are free to vary.

The number of independent ways by which a dynamic system can move without violating any constraint imposed on it, is called degree of freedom. In other words, the degree of freedom can be defined as the minimum number of independent coordinates that can specify the position of the system completely.

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STRATEGIC MANAGEMENT

 

 

 

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

 

AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL

 

 

 

 

 

 

 

SUBJECT : STRATEGIC MANAGEMENT

 

 

COURSE :  MBA 3rd Semester                                   Total Marks : 80

 

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CASE STUDY -1

 

  1. Explain the term strategic decision making?

Answer:- Strategic decision making, or strategic planning, describes the process of creating a company’s mission and

  1. Explain the process of decision making?

Answer:–Strategic decision making is an ongoing process that involves creating strategies to achieve goals and altering strategies based on observed outcomes. For example, the managers of a pizza restaurant might have the

Q3) what is the basic thrust of strategic decision making?

Answer:- “Strategy is the determination of the basic long-term goals of an enterprise, and the adoption of courses of actions and the allocation of resources necessary to carry out these goals.” “Strategy is the basic goals and objectives of the organization, the major programs of action chosen to reach these goals and objectives, and the major

 

Q4) Explain in detail the issues in strategic decision making?

Answer: – STRATEGIC ISSUES

  • Improving CUSTOMER service
  • Building customer relationships
  • Hiring qualified people

CASE STUDY-2

 

  1. Define vision? And explain the benefits of a vision?

Vision

Members of the organization often have some image in their minds about how the organization should be working, how it should appear when things are going well.  An aspirational description of what an organization would like to achieve or accomplish in the mid-term or long-term future. It is intended to serves as a clear guide for choosing current and future courses of action.

Benefits of a Vision Statement

 

  1. What do you mean by mission?

Answer:-Mission Statement:-A mission statement sets out the business vision and values that enables employees, managers, customers and even suppliers to understand the underlying basis for the actions of the business You should think of a mission statement as a cross between a slogan and an executive summary. Just as slogans and

 

  1. How are Mission statements formulated and communicated?
  • Who our team serves:
  • Why we serve these people:
  • The specific client needs our team strives to meet:
  • The specific ways in which we serve our

 

Q4) Explain in detail the characteristics of a Mission statement?

Answer:-

  1. Make it as succinct as possible. A mission statement should be as short and snappy as possible – preferably brief enough to be printed on the back of a business card. The detail which underpins it should be mapped out elsewhere (see Vision and Values)
  2. Make it memorable. Obviously partially

 

 

CASE STUDY-3

 

Q1) Explain the concept of Environment?

Intuitively, the notion of “the environment”   refers to the relatively enduring and stable set of circumstances that surround some given individual.  . The environment is where agents live, and it determines the effects of their actions. The environment is thus a matter of importance in computational modeling; only if we

 

Q2) Explain in detail the characteristics of Environment?

Environment Characteristic

  1. Atmosphere
  • none
  • methane gas
  • carbon dioxide gas
  • sulfur dioxide gas

 

Q3) Explain Internal Environment?

Answer:- Internal Environment:-  It consists of conditions and forces within an organization. It is located within the organization. It provides strengthens and weaknesses to the organization. It is controllable by the organization.

  Forces in the internal environmental

 

Q4) Explain External Environment?

Answer:- External Environment :-  The second level of the management system involves the organization’s external environment. It consists of all the outside institutions and forces that have an actual or potential interest or impact on the organization’s ability to achieve its objectives: economic, social, political, legal, technological and international forces.

“According to James Stoner,”

CASE STUDY-4

Q1) Explain the term mergers and acquisitions?

Merger:- Merger is defined as combination of two or more companies into a single company where one survives and the others lose their corporate existence. The survivor acquires all the assets as well as liabilities of the merged company or companies. Generally, the surviving company is the buyer, which retains its identity, and the extinguished

 

Q2) What are the types of mergers and acquisitions?

There are many types of mergers and acquisitions that redefine the business world with new strategic alliances and improved corporate philosophies. From the business structure perspective, some of the most common and significant types of mergers and acquisitions are listed below:

Horizontal Merger :-This kind of merger exists between

Q3) Explain in detail the reasons for mergers and acquisitions?

Answer:-The purpose for an offer or company for acquiring another company shall be reflected in the corporate objectives. It has to decide the specific objectives to be achieved through acquisition. The basic purpose of merger or business combination is to achieve faster growth of the corporate business. Faster growth may be had through product

 

Q4) What are the important issues in mergers and acquisitions?

When negotiating an M&A transaction, there are many issues that should be addressed up front (preferably at the letter of intent stage or as soon as possible after the execution of a letter of intent). The target company and the acquiring company should consider the following issues when contemplating a transaction. Click on any item to jump down to more detail.

Top 10 Merger and Acquisition Transaction Issues

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Quantitative Methods

 

 

 

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SUBJECT : Quantitative Methods 

 

 

COURSE :  MBA 4th Semester                                   Total Marks : 80

 

 

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CASE STUDY: 1

 

The bulbs manufactured by a company gave a mean life of 3000 hours with standard deviation of 400 hours. If a bulb is selected at random, what is the probability it will have a mean life less than 2000 hours?

  • Calculate the probability.
  1. P(x < 2000) =?

 

In what situation does one need probability theory?

  1. Probability theory is applied to situations where uncertainty exists. These situations include

 

  1. The characterization of traffic at the intersection US 460 and Peppers Ferry Road (i.e., the number of cars that cross the intersection as a function of time).

 

  1. The prediction of the weather in Blacksburg.

 

  1. The number of

 

 

 

 

  • Define the concept of sample space, sample points and events in context of probability theory.
  1. sample spaceà Definition: The sample space of an experiment is the set of all possible outcomes of that experiment.

 

 

 

  • What is the difference between objective and subjective probability?
  1. Objective probabilityis where I know that if I toss a fair coin enough times, it’ll turn up heads 50% of the time. Subjective probability is where I think there’s a 10% chance it’ll rain tomorrow, and I don’t care to repeat the event. The former is an informed statement about a system. The latter is our best guess about an event. The former number is a constant, if we’ve done the calculations right.

 

 

 

CASE STUDY: 2

The price P per unit at which a company can sell all that it produces is given by the function P(x) = 300 — 4x. The cost function is c(x) = 500 + 28x where x is the number of units produced. Find x so that the profit is maximum.

  • Find the value of x.
  1. profit = sales-cost
    sales=quantity*price = x (300-4x)
    cost = 500+28x

 

 

 

  • In using regression analysis for making predictions what are the assumptions involved.
  1. I computed a simple linear regression model from my experiment measures in order to make predictions. I have read that you should not calculate predictions for points that depart too far from the available data. However, I could not find any

 

.

 

  • What is a simple linear regression model?
  1. simple linear regressionis theleast squares estimator of a linear regression model with a single explanatory variable. In other words, simple linear regression fits a straight line through the set of n points in such a way that makes the sum of squared residuals of the model (that is,

 

 

  • What is a scatter diagram method?
  1. Scatter graph method is a graphical technique of separating fixed and variable components of mixed cost by plotting activity level along x-axis and corresponding total cost (mixed cost) along y-axis. A regression line is then drawn on the graph by visual inspection. The line thus drawn is used to estimate the total fixed cost and variable cost per unit. The point where the line intercepts y-axis is the estimated fixed cost and the slope of the line is the average variable

 

CASE STUDY: 3

 

 

  1. Sehwag invests Rs 2000 every year with a company, which pays interest at 10% p.a. He allows his deposit to accumulate at C.I. Find the amount to the credit of the person at the end of 5th year.
  • What is the Time Value of Money concept?
  1. Thetime value of moneyis the principle that the purchasing power of money can vary over time; money today might have a different purchasing power than money a decade later. The value of money at a future point in time might be

 

 

  • What do you mean by present value of money?
  1. The current worth of a future sum of money or stream of cash flows given a specified rate of return. Future cash flows are discounted at the discount rate, and the higher the discount rate, the lower the present value of the future cash flows.

 

  • What is the Future Value of money?
  1. The value of an asset or cash at a specified date in the future that is equivalent in value to a specified sum today. There are two ways to calculate FV:

 

1) For an asset with simple

 

 

 

4) What the amount to be credited at the end of 5th year.

 

 

 

 

 

 

CASE STUDY: 4

 

The cost of fuel in running of an engine is proportional to the square of the speed and is Rs 48 per hour for speed of 16 kilometers per hour. Other expenses amount to Rs 300 per hour. What is the most economical speed?

  • What is most economical speed?

 

  1. Based on the above statement, the formula for cost is
    C = k*v2 + 300.
    So, for 48 rs per hour cost at 16 per hour

 

 

  • What is a chi-square test?
  1. A chi-squared test, also referred to as chi-square test or χ² test, is any statistical hypothesis test in which the sampling distribution of the test statistic is a chi-squared distribution when the null hypothesis is true. Also considered a chi-squared test is a test in which this is asymptotically true, meaning that the sampling distribution (if

 

 

  • What is sampling and what are its uses.
  1. A process used in statistical analysis in which a predetermined number of observations will be taken from a larger population. The methodology used to sample from a larger population will depend on the type of analysis being performed, but will include simple random sampling, systematic sampling and observational sampling.

    The sample sho

 

4)Is there any alternative formula to find the value of Chi-square?

 

  1. The Formula for Chi-Square Statistic

 

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PROJECT MANAGEMENT

 

 

 

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

 

AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL

 

 

 

 

 

 

 

SUBJECT : PROJECT MANAGEMENT

 

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Case Study 1

 

 

Q1) Using the payback period, which project is better from a cash flow stand point?

 

Answer:The project that has

Q2) Why explain in detail?

 

Answer: The project that has a better cash flow standpoint using the payback period would be the Alpha project. According to the Payback

 

Q3) Describe the major components of the strategic management process?

 

Answer:The strategic management process is more than just a set of rules to follow. It is a philosophical approach to business. Upper management must think strategically first, then apply that thought to a process. The strategic management process is

Q4) Explain the role projects play in the strategic management process?

 

Answer: Because of projects’ limited scope and short execution time, senior managers can use them to analyze operational issues, solve problems and explore new possibilities without disrupting tactical operations. Strategic management operates on long-term plans and applies information gained from projects to set the

 

Case Study 2

 

 

Q1) What kind of project management structure would you recommend they use for the KYSO project?

 

Answer: A project organization is a structure that facilitates the coordination and implementation of project activities. Its main reason is to create an

 

 

Q2) Explain in detail why?

 

Answer: Project management seems like a classic chicken-and-egg career conundrum: How do you prove you’re adept at managing projects if you haven’t worked as a project manager? Beyond that, what does project management really entail, and how is it different from, you know, being a manager? And what tools do the pros actually use, since there seem to be a new one released every week?

Everybody has projects now. Lots of people have

 

Q3) What information would you like to have to make this recommenddation?

 

Answer: The current types of organizational structure of project management are:

  • Functional organizational structure
  • Project-based organizational
  • Q4) Explain in detail why?

 

Answer: The most important decision in any project is what project to undertake. Project initiation explains the factors that should be considered to give the best chance of a successful outcome. It also discusses the life cycle of typical projects and the need for project management.  Risks, estimates and contracts: Before too much money is committed to a project, estimates are needed to determine how much it will cost, how long it

 

Case Study 3

 

 

Q1) What should you do?

 

Answer: Go deep in the project and check all the possibilities. Search in detail and go deeper. Project manager has the responsibility of it so

 

 

Q2) Explain in detail why?

 

Answer: Following case will involve ethical dilemmas associated with project management. Identify an important relationship for example co-worker, boss, friend etc. in which you are having trouble gaining cooperation. Access this relationship in your

Q3) What is a difference between leading managing project?

 

Answer: Project management is critical for the success of conveyor and other material handling systems – it is where a project can succeed or fail. That’s why we dedicate significant talent and resources into developing the finest project management teams possible to help execute your project correctly, on time, and to your specifications.  Our

 

 

Q4) Is it important to build a relationship before you need it?

 

Answer: It’s always better to build relationships before you need them or before a conflict arises. If you already have a good relationship with the grocery store owner in your neighborhood, you will be in a better position to help solve a dicey conflict between him and some neighborhood teens. If you have already established a relationship with your school

Case Study 4

 

Q1) Would you sign the document?

Answer: I would not

 

Q2) If yes explain in detail why?

Answer: I would not

Q3) If no give reasons and why not?

Answer: I would go to management and ask them about the changes; maybe there is a cost that I don’t know about. If I find out this

 

Q4) Why is a trust a function of both character and competence?

 

Answer: Both character and competence are necessary for trust in the context of church leadership and ministry. By placing these in a matrix, some

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PRINCIPLE & PRACTICE OF MANAGEMENT

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

                                                         

 

                                                         

 

 

SUBJECT: PRINCIPLE & PRACTICE OF MANAGEMENT

 

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                                                                                                                                            Marks: 80

CASE STUDY : 1

 

International Case :   Carrefour — Which Way to Go?

 

Wal-Mart’s biggest global competitor is the big French retailer Carretour, a firm that has hypermarkets, big stores offering a variety of goods. It has made large investments around the globe in Latin America and China. But not all is well as competitors taking market share its home market, for instance. There has been even speculation of a takeover by Wal-Mart or Tesco, an English chain. Mr. Barnard has been ousted after heading the company for 12 years; he was replaced by Jose Luis Durant who is of German-Spanish descent. Although the global expansion is cited by some as success, it may be even a big mistake. It withdrew from Japan and sold 29 hypermarkets in Mexico. Carrefour also had problems competing with Tesco in Slovakia and the Czech Republic. In Germany, the company faced tough competition from Aldi and Lidle, two successful discounters. On the other hand, it bought stores in Poland, Italy, Turkey, and opened new stores in China, South Korea, and Columbia. Carrefour has become more careful in selecting markets. But. the company is eager to enter the Indian market, but found out in late 2006 that Wal-Mart will do so as well.

 

In France, where Carrefour is well established, the company made the big mistake in its pricing policy. It probably started with the 1999 merger with Promodes, the French discount chain. Carrefour confused the French clientele by losing its low-cost image; whether the image can be changed remains to be seen. Mr. Durant, the new CEO since 2005, embarked            on the new strategy by offering 15 percent new products in its hypermarkets and 10 percent in its supermarkets. Moreover, he wants to employ more staff, extend the operating hours in certain hypermarkets, cutting prices, trying small stores, and pushing down decision making. Mr. Durant aims to stay only in countries where Carrefour is among the top retailers.

 

 

Questions:

  1. How should Mr. Durant assess the opportunities in various countries around the world?
  2. Should Carrefour adopt Wal-Mart’s strategy of “low prices everyday”? What would be the advantage or disadvantage of such a strategy?
  3. How could Carrefour differentiate itself from Wal-Mart?
  4. Identify cultures in selected countries that need to be considered in order to be successful?

 

 

Introduction of the Case:

 

 

Abstract: 
Carrefour was the second largest retailer of consumer goods and groceries worldwide, after Wal-mart. The company pioneered the concept of hypermarket in their home country, France, as early as 1960’s.However, towards late 1990’s; Carrefour saw a decline in their French hypermarkets owing to certain unfavorable government regulations and competition from hard discount stores. Carrefour introduced a series of

 

 

 

  1. How should Mr. Durant assess the opportunities in various countries around the world?

 

Answer : Mr. Durant, the new CEO since 2005, embarked   on the new strategy by offering 15 percent new products in its

 

 

  1. Should Carrefour adopt Wal-Mart’s strategy of “low prices everyday”? What would be the advantage or disadvantage of such a strategy?

 

Answer : Yes Certainly they have to adopt the strategy of low pricing every day, In France, where Carrefour is well established, the company

 

 

  1. How could Carrefour differentiate itself from Wal-Mart?

 

Answer : Wal-Mart is more than just the world’s largest retailer. It is an economic force, a cultural phenomenon and a lightning rod for controversy. It

 

 

  1. Identify cultures in selected countries that need to be considered in order to be successful?

 

Answer : Carrefour operates in 29 countries around the world. World population is rising, geographic distribution of populations is shifting, world population isaging rapidly, ethnic mixes in developed countries are changing

 

 

CASE STUDY : 2

 

International Case :  Reengineering the Business Process at Procter & Gamble

 

Procter & Gamble (P&G), a multinational corporation known for products such as diapers, shampoo, soap, and toothpaste, was committed to improving value to the customer. Its products were sold through various channels, such as grocery retailers, wholesalers, mass merchandisers, and club stores. The flow of goods in the retail grocery channel was from the factory’s warehouse to the distributors’ warehouses before going to the grocery stores where customers selected the merchandise from the shelves.

 

The improvement-driven company was not satisfied with its performance and developed a variety of programs to improve its service and the efficiency of its operation. One such program was electronic data interchange, which provided daily information from the retail stores to P&G. The installation of the system resulted in better service, reduced inventory levels, and labor-cost savings. Another approach, the continuous replenishment program, provided additional benefits for P&G as well as for its retailer customers. Eventually, the entire ordering system was redesigned, with the result of dramatic performance improvements. The reengineering efforts also required restructuring of the organization. P&G had been known for its brand management for more than 50 years. But in the late 1980s and early 1990s, the brand management approach pioneered by the company in the 1930s required rethinking and restructuring. In a drive to improve efficiency and coordination, several brands were combined with authority and responsibility given to category managers. Such a manager would determine overall pricing and product policies. Moreover, the category managers had the authority to withdraw weak brands, thus avoiding conflict between similar brands. They were also held responsible for the profit of the product category they were managing. The switch to category management required not only new skills but also a new attitude.

 

Questions:

1)  The reengineering efforts of P&G focused on the business process system. Do you think other processes, such as the human system, or other managerial policies need to be considered in a process redesign?

2)  What do you think was the reaction of the brand managers, who may have worked under the old system for many years, when the category management structure was installed?

3) As a consultant, would you have recommended a top-down or a bottom-up approach, or both, to process redesign and organizational change?

4)  What are the advantages and disadvantages of each approach.

 

 

 

Introduction of the Case:

 

 

Abstract: 
Business process re-engineering (BPR) began as a private sector technique to help organizations fundamentally rethink how they do their work in order to dramatically improve customer service, cut operational, and become world-class competitors. A key stimulus for re-engineering has been the

 

 

 

1)  The reengineering efforts of P&G focused on the business process system. Do you think other processes, such as the human system, or other managerial policies need to be considered in a process redesign?

 

Answer : The reengineering efforts also required restructuring of the organization. P&G had been known for its brand management for more than 50 years. But in the late 1980s and early 1990s, the brand management approach pioneered by the company in the 1930s required rethinking and restructuring. In a drive to improve efficiency and

 

2)  What do you think was the reaction of the brand managers, who may have worked under the old system for many years, when the category management structure was installed?

 

Answer :The category managers had the authority to withdraw weak brands, thus avoiding conflict between similar brands. They were also

 

 

3) As a consultant, would you have recommended a top-down or a bottom-up approach, or both, to process redesign and organizational change?

 

Answer : A top-down approach (also known as stepwise design) is essentially the breaking down of a system to gain insight into its compositional sub-systems. In a top-down approach an overview of the system is formulated, specifying but not detailing

 

 

4)  What are the advantages and disadvantages of each approach?

Answer :

 

Bottom-up approach Top-down approach
Summary

 

 

 

 

 

 

 

 

CASE STUDY : 3

 

International Case :  The Restructuring of Daimler-Benz

 

In a 1996 address to stockholders and friends of Daimler-Benz, CEO Jurgen Schrempp reviewed the position of the diversified company. He started by saying “1995 was a dramatic year in the history of Daimler-Benz.” It was also a year that the board of management made a major break with the past.

 

Daimler-Benz, with more than 300,000 employees worldwide, consisted of four major groups: The first, by far the biggest and most successful group, was Mercedes-Benz with about 200,000 employees. It is best known for its passenger cars and commercial vehicles. The second was the AEG Daimler-Benz industries in the business of rail systems, microelectronics, heavy diesel engines, energy systems technology, and automation. The third was the Aerospace Group in the business of aircraft (the company has a more than one-third interest in the Airbus consortium), space systems, defense and civil systems, and propulsion systems. Finally, there was the Inter Services Group consisting of systemshaus, financial services, insurance brokerage, trading, marketing services, mobile communications services, and real

estate management.

 

Daimler-Benz went through various development phases. From 1985 to 1990, it diversified into aerospace and electrical engineering. The aim was to become an integrated high-tech group. This diversification was further consolidated in the next phase that extended from 1990 to 1995. Under the leadership of Schrempp, the core business was redefined and the strategy refocused.

 

A 1995-96 portfolio review showed the need for refocusing on what the company could do best. Top management reevaluated its strategies and its core businesses based on economic criteria and the strategic fit of the various activities. It became clear that the company’s strengths were in car manufacturing, the truck business, and the railroad sector. Mercedes Benz, for example, had a strong competitive position with its cars and trucks in Europe, North America, and Latin America. Vans were also relatively strong in Europe, and buses had a good competitive position in Latin America. Based on this analysis, the strategies for potential growth were through globalization and the development of new product segments.

 

In 1996, top management reassessed the company’s position and its 1995 unsatisfactory results from its operations. It was discovered that the company was exposed to currency fluctuations that affected profitability. The company’s image was also blurred because of the ventures into many different kinds of industries. The management board decided to cut its losses and chart a new direction for the company, with greater emphasis on profitability. The organization structure was tightened and certain businesses were divested. In fact, policy decision from an earlier period were reversed.  The unprofitable AEG Group and the Dutch aircraft manufacturer Fokker did not receive financial support. Since both the Dutch government and Daimler-Benz withdrew support, Fokker filed for bankruptcy. Although these and other drastic decisions helped reduce the 1995 financial losses, the company’s goal was not to emphasize maximizing short-term profitability but to work toward medium- and long-term profitability.

 

A number of other managerial decisions were made to achieve the ambitious goals of reducing costs and improving profitability. Employees close to the operations were empowered to make decisions necessary to carry out their tasks. The organization structure was simplified and decentralized so that organizational units could respond faster to environmental changes. Moreover, the new organization structure was designed to promote an entrepreneurial spirit. Control was exercised through a goal-driven, performance-based reward system. At the same time, the new structure was designed to promote cooperation. In 1997, the board of management restructured and integrated the Mercedes-Benz Group into            Daimler-Benz. Consequently, Mercedes-Benz’s chief, Helmut Werner, who had been given credit for a successful model policy, resigned from the company.

 

 

 

Questions:

 

 

1)  What is your assessment of Daimler-Benz’s operations in many different fields?

 

Answer : Daimler-Benz was a German manufacturer of automobiles, motorvehicles, and internal combustion engines; founded in 1926. Although Daimler-Benz is best known for its Mercedes-Benz automobile brand, during World War Idiot also created a notable series of aircraft, tank, and submarine engines. Daimler also produced parts for German arms, most notably barrels for the Mauserrifle. Daimler-Benz, as a business unit, had four major wings in diversified business, namely, Mercedes-Benz, AEG Daimler Benz Industries manufacturing rail systems, microelectronics, heavy diesel engines, another automations,

 

 

2) Should the various groups operate autonomously? What kinds of activities should be centralized?

Answer : Daimler-Benz realized its mistakes, and they merged certain businesses. The management even went ahead and introduced dies-investment policies. It seemed to them that one unit of higher management could not keep control over its mixture of various business units in different parts of the world. They introduced de-centralization, where every unit will work on their own, will behave as Daimler-Benz and not its branch.

3) Daimler-Benz is best known for its Mercedes-Benz cars. Why do you think Daimler bought AEG in the first place and why did it venture into the Aerospace and Inter Services businesses?

 

Answer : AEG was a German producer of electrical equipment founded in1883 by Emil Ruthenium. In 1985 AEG was bought by Daimler-Benz, later being wholly integrated intoDaimler Chrysler forming part of Adtranz. The company policies, in its earlier days, lead it to diverse investments, starting from cars, railroads, automation, heavy diesel engines, propulsion systems and others.

 

 

 

4)  Given the apparent mistakes in acquiring non-automotive businesses, what should Jurgen Schrempp do now?

Answer : Jurgen Erich Schrempp, was until December 31, 2005, thereof DaimlerChrysler. During his tenure,Daimler-Benzmade the acquisition of theChrysler Corporationto become DaimlerChrysler. In addition to theacquisition of Chrysler, Schrempp pursued the acquisition of Mitsubishi Motorsas part of his ‘Three Pillars’ strategy to expand the reach of Daimler-Benz into the major markets of the USA and Asia. The various decisions that Mr. Schrempp will have to take now after facing collage of failures in the non-automotive business are:

 

CASE STUDY : 4

 

International Case :  Global Car Industry

 

How the Lexus Was Born-and Continued Its Success in the United States, but will Lexus Succeed in Japan?

 

One of the best examples of global competition is in the car industry. As the Japanese gained market share in America, U.S. car makers required the Japanese to self-impose quotas on cars exported to the United States. This encouraged Japanese firms not only to establish their plants in the United States but also to build bigger and more luxurious cars to compete against the higher-priced U.S. cars- and the expensive European cars such as the Mercedes and the BMW.

 

One such Japanese car is the Lexus, by Toyota. This car is aimed at customers who would like to buy a Mercedes or BMW but cannot afford either. With a sticker price of $35,000, the Lexus is substantially less expensive than comparable European imports. In 1983, Toyota set out to develop the best car in the world-measured against the Mercedes and the BMW. The aim was to produce a quiet, comfortable, and safe car that could travel at 150 miles per hour and still avoid the gas guzzler tax imposed on cars getting less than        22.5 miles per gallon. This seemed to be an idea of conflicting goals: cars being fast seemed irreconcilable with cars being at the same time fuel-efficient. To meet these conflicting goals, each subsystem of the car had to be carefully scrutinized, improved whenever possible, and integrated with the total design. The first version of the 32-valve V-8 engine did not meet the fuel economy requirement. The engineers applied a problem-solving technique called “thoroughgoing countermeasures at the source.” This means an attempt to improve every component until the design objectives are achieved. Not only the engine but also the transmission and other parts underwent close scrutiny to make the car meet U.S. fuel requirements.

 

Toyota’s approach to achieving quality is different from that of German car manufacturers. The latter use relatively labor-intensive production processes. In contrast, Toyota’s advanced manufacturing technology aims at high quality through automation requiring only a fraction of the work force used by German car makers. Indeed, this strategy, if successful, may be the secret weapon to gain market share in the luxury car market.

 

 

 

 

 

 

 

 

 

 

 

Questions:

1)  Prepare a profile of the potential buyer of the Lexus.

Answer :  Target Customer Description

The target customer with Lexus flagship hybrid design is seeking to present a bold image to others. Price is therefore a secondary factor to the message their car portrays in their purchasing decisions. Potential customers are born within ten years of the “baby boomer” generation aged forty-five and up. As a wealthy and image-

 

2)  What should Mercedes and BMW do to counteract the Japanese threat in the United States and Europe?

Answer :   [BOTH   MERC / BMW

 

3)  Why has the Lexus model been very successful in the U.S.  but has not been marketed in Japan?  (Suggestion:  Review the frequency of repair records of luxury cars.  Also talk to Lexus dealers or Lexus owners).

Answer :   [ IN  THE  US  CAR MARKET , THERE  WAS A  GAP  BETWEEN   MERC/BMW   AND   THE   LOCAL  BRANDS.

4)  Do you think Lexus will succeed in Japan?  Why or why not?

Answer :  LEXUS  CAN  SUCCEED  IN  JAPAN,

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MARKETING MANAGEMENT

 

 

 

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AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL

 

 

 

 

 

 

 

SUBJECT : MARKETING MANAGEMENT

 

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COURSE :  MBA 4th Semester                                     Total Marks : 80

 

  1. 1. Describe what is meant by a business being ‘consumer led’.

Answer:-consumer-led is responding to the needs of consumers in the market. Example: NIVEA is a consumer-led business which made it one of the largest skin care brands in the world. In a broad sense it’s a guiding philosophy, whereby a ‘known customer’ is placed at the heart of every decision a company takes. The principle of a known customer is crucial, as Chris Lindsay, general manager Broadband, VoIP and Software Services Propositions, BT Business, explains: ‘By this we mean a type of customer you regard as valued. The key

 

  1. 2 What are the key parts of the marketing mix? Explain how each works with the others.

Answer:-Marketing Mix:-

Description The Marketing Mix model (also known as the 4 P’s) can be used by marketers as a tool to assist in implementing the marketing strategy. Marketing managers use this method to attempt to generate the optimal response in the target market by blending 4 (or 5, or 7) variables in an optimal way. It is important to understand that the Marketing Mix principles are controllable variables. The Marketing Mix can be adjusted on a frequent basis to meet the changing needs of the target group and the other dynamics of the marketing environment.

 

  1. Explain why the balance of the marketing mix is as important as any single element. marketing objective and marketing mix vary across the PRODUCT TYPE and  Product Life Cycle

Answer : PRODUCT LIFE CYCLE:- Products pass through a series of stages. Successful products progress through four basic stages: (1) Introduction; (2) Growth; (3) Maturity; and (4) Decline.

The product life cycle concept provides important insights about developments at the various stages of the product’s life. Knowledge that profits assume a predictable pattern through the stages and that promotional emphasis should shift from product

 

  1. Analyse the marketing mix for NIVEA VISAGE Young. What are its strongest points? Explain why you think this is so

Answer : Product

The first stage in building an effective mix is to understand the market. NIVEA uses market research to target key market segments which identifies groups of people with the same characteristics such as age/gender/attitude/lifestyle. The knowledge and understanding from the research helps in the development of new products. NIVEA carries out its market research with consumers in a number of different ways. These include:

 

 

Case Study -2

SWOT Analysis in action at SKODA

  1. What was the key weakness that Skoda was able to identify?

Answer :  The SWOT analysis was used by Skoda to identify its weaknesses. One of the greatest weakness identified, which affect the success of the company is its small market share. Skoda only holds 1.7 percent market share. Because of this, Skoda remains a small player in the car manufacturing market. Through the SWOT analysis, management was able to identify this weakness and also the causes of this weakness. Skoda’s small market share, is

 


  1. What strength did Skoda use to turn its brand weakness into an opportunity?

Answer : The strengths of Skoda were identified and assessed by conducting a SWOT analysis. The company conducted a research involving consumers in order to find out the strengths of its products and brand. Surveys were also used. The strength of the company and its products lie in its focus on experience rather than on sales. Meaning, the company makes sure that there is “human touch” in the production and manufacture of its cars and make sure that the consumers feel it. Because of this strength, Skoda was listed as one of

 

 

  1. How has Skoda strategically addressed external threats?

Answer : Through the SWOT analysis, the company was able to identify the external threats that may affect the company’s standing in the market and success. One of the biggest threats to Skoda is intense competition in the European car

 

 

  1. What in your view are the important benefits of using aSWOT analysis?

Answer : It is clear from the case study, the SWOT analysis have been helpful in creating and formulating strategies for the company. The company relied on SWOT analysis in getting a clear picture of where the company is now and where

 

 

Case-3 : Marketing strategy for growth

Answer the following questions

  1. What is the difference between primary and secondary research? Identify one example of primary and research carried out by Wilkinson.

Answer : Market research is vital for collecting data on which to base the strategy. Market research takes one of two main forms primary research and secondary

 

  1. Explain why Wilkinson needed a marketing strategy to help them to grow.

Answer : To grow, a business needs to give consumers what they want, at a price they are satisfied with, when they want it and make a profit for the company. Wilkinson commissioned market research which identified key potential for growth in the student sector. It had to develop a strategy for growth that not only covered the specific requirements of this target group, but also linked closely with the company’s overall aims and objectives.

 

  1. Evaluate the benefits of the marketing campaign to Wilkinson.

Answer : The campaign showed that:

  • awareness of Wilkinson brand had significantly risen from 77% to 95% of those interviewed. This brought it in line with Morrison supermarkets, a key competitor.
  • 17% of students who received a goody bag at freshers” fairs used the 15% discount voucher. A further 58% intended to use the voucher. The campaign had either got students to enter the Wilkinson stores or increase their intention to visit the store.

 

  1. Analyse how effective the marketing campaign was in helping

Answer : The campaign showed significant increase in students’ levels of awareness about Wilkinson and its products.

 

 

Case-4 : Extending the product life cycle

 

Answer the following questions:

  1. Using current products familiar to you, draw and label a product life cycle diagram, showing which stage each product is at.

Answer : A          B          C

PRODUCT   A—SRIL  SEDAN HATCHBACK—CHEVROLET

THIS  VEHICLE  IS  AT  THE  INTRODUCTORY  STAGE.

 

  1. Suggest appropriate aims and objectives for a small, medium and large business.

Answer : Aims and objectives for a small business.

Aim for a small business can “

 

OBJECTIVE  –IS  TO  MAKE  15%  RETURN  ON  INVESTMENT,

Aims and objectives for a  medium  business.

Aim for a medium sized business would be to maximize their profits and growth to expand their current business operations and increase market share.

 

  1. Consider the decision taken by Kellogg to opt for product development. Suggest a way in which itcould have diversified instead. Justify your answer.

Answer : THE  STRENGTH  OF

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