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Directorate of Online Education

SET – I

Q1. What  is  project  management?  Explain  the  phases  of  project management life cycle. 4+6     

Ans:

Project management: Project management is a valuable means to administer and develop any kind of infrastructure which is required to meet the growing requirements of Indian economy across various sectors like Power, Roads, Ports, IT and so on. In current scenario, it a method vital to the success of both public and private sector projects in India.

• Project: A project is

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Q2. What do you mean by work breakdown structure? Explain with the help of suitable format.  4+6

Ans:

Work Breakdown Structure (WBS): The entire project may be considered to be made up of a number of tasks and sub-tasks placed in different stages called the Work Breakdown Structure (WBS).The format for WBS design is used differently by different organizatiions. Mostly graphics is used to display the project components as a hierarchical tree structure or diagram. Figure depicts the WBS

Q3. Differentiate between PERT and CPM.          10       

Ans:

Differences Between PERT and CPM:

The two fundamental network techniques are: PERT and CPM. PERT, an acronym for Programme Evaluation Review Technique was originally developed to facilitate  the planning  and scheduling  of  the  Polaris  Fleet Ballistic Missile Project of the US government. Designed to handle risk and uncertainty, PERT is quite suitable for research and development programmes, aerospace projects, and other projects relating to new technology. In such projects, there exists variability

SET – II

Q4. Explain the tools and techniques of quality planning along with its outcome.  5+5

Ans:

Quality  planning  is  the  process  of  identifying  the quality standards that are related to the project and determining how to these standards can be achieved. It  is  one  of  the  significant  processes  of  project planning and should be performed on a continuous basis and in parallel with the other project planning processes.

A good quality planning process starts with a clear definition of the goals of the project. What is the product or deliverable likely to achieve? What does the product look like? What functions will it perform? How do you

Q5. What is contract management? What are its Phases?            3+7     

Ans:

Contract management: Contract management is the management of contracts which is entered with clients, sellers, partners,  or  employees.  It  comprises  of negotiating the terms and conditions and ensuring the  compliance  with  the  terms  and  conditions,with documenting and approving on any changes or amendments that may  occur  during  its  implementation  or  execution.  As  we  discussed  in  the previous section, a purchase order becomes a legal contract

Q6. Project termination has negative impact, how can we avoid it?        10       

Ans:

Project termination is one of the most serious decisions of a project management team and its control board. The decision of project termination affects all the stakeholders of the project and can put some negative impact on the organisation’s growth. So it is important to critically evaluate all the aspects before taking the decision. The project manager and his or her team members will feel that they personally failed. It can also put a negative impact on the team member’s motivation level and their productivity.

The following are the key

Directorate of Online Education

Set – I

Q 1 a. What are Information Systems? Distinguish between Information Technology and Information Systems with the help of an example.

b. Explain evolution of computing over decades with diagram. How does the internet and web differ? 5+5

Ans a.

Information Systems: Information systems are collections of computers, networks, software, and people who create, store, modify, and distribute data and information in any organisation. Computers and information technology (IT) are key ingredients of modern information systems (IS). Information technology includes comput- ing devices such as personal computers, notebook computers, personal digital assistants, mobile phones, and various types of networks that allow the comput- ing devices to connect and to communicate.

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Q2. Discuss IT Interaction model with diagram. How Information Systems are proved to be a positive outcome for organizations? 3+7         

Ans:

The IT interaction model:

Managing IS in organisations is a highly challenging and complex task. One reason for this complexity is that neither organisations nor the IS they use remain static over time – both change continuously, and it is the job of management to ensure that the systems remain useful and relevant for their organizational goals at all times. Organisations change to respond to the needs of the business and economic environment in which they thrive. They may have to change their services, their products, their internal structure, and the manner in which they do their business to

Q3. What are the three components of a modern information technology infrastructure of an organization? Explain with the help of diagram. 3+7       

Ans:

Types of Information Technology

Historically, information systems were created for specific functions in the organisation and for particular levels of personnel in the hierarchy. Systems for accounting, operations, marketing, and other functions were largely designed, built, and maintained independently with little sharing of data among them. Each system supported the function for which it was designed. It was in this function that the data for the systems originated and the information and reports originat- ing

Set – II

Q4. Discuss the following management systems:

a. Supply chain management systems (SCM)

b. Customer Relationship Management Systems (CRM)  5+5     

Ans:

Supply Chain Management Systems

Supply chain management (SCM) systems evolved alongside MRP and ERP. The basic purpose of such systems is to integrate suppliers and vendors of the host organisation that will allow processes to be integrated across organ- isational boundaries. A supply chain of an organisation consists of the vendors and suppliers who provide materials, parts, and services to the organisation. In a

Q5. What is E-Commerce and Mobile Commerce? Explain Electronic Data Interchange (EDI) with an example. 5+5 

Ans:

E-commerce: Electronic commerce, or e-commerce for short, is a phrase that was coined to designate businesses that were created to use the Internet technologies as a basis for transactions. The first

Q6. Discuss the major goals of database systems, emphasizing the need and challenges of data management. 10           

Ans:

Goals of Database Management System

(1) To remove problem of data redundancy and inconsistency- Different programmers create files and application programs over a long period and these files are likely to have different format and programs are written in different languages. Same information may be duplicated in various files. E.g. address and telephone number of a particular customer may appear in a file that consist of savings- account record and in a file that consist of checking account records,

Directorate of Online Education

Set – I

Q 1. What are the various marketing concepts? Explain. 5+5     

Ans 1.

A marketing manager must formulate strategies that can build profitable relationships with the target consumers. Things are continuously changing in terms of business and social changes, customer-related changes, and changes in manufacturing and marketing organisations. Therefore, the organisations should select their marketing orientation Its Half solved only

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Q 2. What is Marketing Information Systems? Write down the characteristics of MIS. 5+5   

Ans 2.

Marketing Information Systems: The importance of marketing information is particularly evident as the economy continues to accentuate services as a primary source of value.

Services depend on information to a great extent. Information is speedily becoming a service in its own right. Mass customisation, often depicted as “one-to-one” marketing or the customising of products and services for individual customers, is heavily dependent on compre

Q 3. Discuss various buying motives. What are the influences of these motives on the purchase process? 4+6

Ans:

Buying Motives: To begin with, let us understand the different motives that consumers pursue while initiating their decision process. Consumers have different kinds of needs and they do not pursue all their needs at all points of time. Whenever a need gets a direction or goal and all the energies of consumer are targeted towards achieving the goal, it takes the shape of a buying motive

Set – II

Q 4. Define Brand Equity. Elaborate its components. 4+6          

Ans:

Brand Equity    

Brand equity is the added value that the consumer assigns to the products and services. It is an arrangement of brand assets and liabilities linked to a brand, its name, and symbol that put in or subtract the value provided by a product or service to an organisation and/or to that

Q 5. Discuss the various types of advertisement. 10          

Ans:

Types of advertisements:

Advertising can be classified into various forms as mentioned below.

Brand advertising – This is the most popular form of advertising. All possible media including television is flooded with brand advertising. Brands like Surf Excel, Pepsi, and Coke in India are shown more frequently on Indian televisions.

National advertising –These advertisements are uniform across the nation and are released through

Q 6. Describe any four international market entry strategies. 10

Ans:

International Market Entry Strategies: There are two methods to entry into foreign markets. They are indirect exporting and direct exporting. In the first method, the manufacturers take the help of merchant exporters to get products exported to foreign markets. Indirect exporting, the manufacturers decide to export themselves. Thus, the

Directorate of Online Education

ASSIGNMENT

SET – I

Q 1. Is there a difference between the terms “production management” and “operations management”? If yes, what is it?        2+8   

Ans:

Production management:

Production management encompasses all those activities that enable conversion of a set of inputs into outputs which are useful to meet the human needs. It is also important to have a feedback loop connecting the information from output to input stages to ensure that the desired type of output has been produced. This also ensures the right quantity and the right quality.

Production management involves the Its Half solved only

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Q 2. Write a note on (a) Delphi technique of demand forecasting (b) Moving Averages Method of demand forecasting. 4+6        

Ans:

Delphi method:

In the Delphi method, the experts give their opinions which are collected by the coordinator and several rounds of discussion may be held before a consensus is reached. This forms the basis for forecasting.

In a Delphi technique, the group facilitator or the change agent aggregates all the anonymous opinions received through the questionnaires, sent two or three times to the same set of experts. The experts are required to give justification for the answers given in the first questionnaire and on the basis of it

Q 3. What is the Deming approach to the Total Quality Management? 10

Ans:

Total quality management is viewed from many angles – as a philosophy, as an approach and as a journey towards excellence. The main thrust is to achieve customer satisfaction by involving everybody in the organisation, across all functions with continuous improvement driving all

SET – II

Q 4. Differentiate between logical and physical database modelling. 10

Ans:

Logical vs. Physical Database Modelling:  

Models are constructed to represent the proposed database in the visual form, so that, business requirements can be easily associated with database objects. Diagrams are produced to illustrate business processes, organisational units, rules, and entities. An Entity Relationship Diagram (ERD) represents the entities or clusters of information and their relationships maintained for the business. Process flow diagrams represent various processes and the flow of information, within and between different processes and entities. These are called database

Q 5. What is Just-In-Time production? What are its aims and advantages?      5+5     

Ans:

Just-In-Time production:

Toyota Motor Corporation, with annual sales of over 9 million cars and trucks, is the largest vehicle manufacturer in the world. Two techniques, just-In-Time (JIT) and the Toyota Production System (TPS), have been instrumental in this post-world war II growth. Toyota, with a wide range of vehicles, competes head-to-head with successful and long-established companies in

Q 3. Explain the factors which should be considered before scheduling an operation. How could you schedule a service? 5+5

Ans:   

Scheduling is basically a day-to-day planning of operations with details of a) which work centre will do which Job, b) When should an operation/job be started and ended, c) On which equipment should it be done and by whom, and d) What is the sequence in which job operations need to be

Q1. Explain the difference between financial accounting & management accounting. (Any five)

Ans-

Managerial accounting and Financial accounting are two of the four prime branches of the accounting systems. The remaining two are  auditing and tax accounting. In spite of number of similarities in usage and approach, there are noteworthy differences between managerial and financial accounting. These differences primarily center around compliance,

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Q.2                                    

Ms. Torna Hawkins was interested in controlling her company’s inventory because she knew that excess inventories were expensive in that they tied up funds. On the other hand, insufficient inventory levels could result in lost sales. Ms. Hawkins obtained the following inventory information from her trade association, which reported average figures for companies similar to hers:

Ms. Hawkins had the following information from last year, which she considered to be a typical year for her company:

Required:

1. a) How does Ms. Hawkins company’s inventory compare with other similar companies?
2. b) If required, provide suitable suggestions to Ms. Hawkins. (Any two)

Q3. The following information is from Solid Rock’s financial records:

Collections from customers are normally 70 percent in the month of sale, 20 percent in the month following the sale, and 9 percent in the second month following the sale. The balance is expected to be uncollectible. All purchases are on account. Management takes full advantage of the 2 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for November are budgeted at $150,000, and sales for November are forecasted at $165,000. Cash disbursements for expenses are expected to be $36,000 for the month of November. The company’s cash balance on November 1 was $55,000.

Required: Prepare the following schedules.

1. Expected cash collections during November.
2. Expected cash disbursements during November.
3. Expected cash balance on November 30.

3. (1) Cash collections (Nov)

$ 195000 X 20%  = $ 39000

Directorate of Online Education

INTERNAL ASSIGNMENT SET-II

Question 1  Explain the term ‘Job Evaluation’. Explain the advantages and limitations of Job Evaluation.

Answer- Job evaluation is a systematic process of analysing and evaluating jobs to determine the relative worth of jobs in an organisation. Job evaluation is the evaluation or rating of jobs to determine their position in the job hierarchy. The evaluation may be achieved through assignment of points or use of some other systematic method for essential job requirements such

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Question 2  Explain the theories of wage determination.

Answer- The word ‘salary’ is defined in the Oxford Dictionary as ‘fixed periodical payment to a person doing other than manual or mechanical work.’ The payment towards manual or mechanical work is referred to as wages. The word pay refers to the payment for services done which would include salary as well as wages.

Wages are commonly understood as price of labour. In ordinary parlance, any remuneration paid

Question 3  Define ‘Job Analysis’. Elaborate the process of job analysis.

Answer- Job analysis is the process of determining and recording all the pertinent information about a specific job, including the tasks involved, the knowledge and skill set required to perform the job, the responsibilities attached to the job and abilities required to perform the job

Directorate of Online Education

INTERNAL ASSIGNMENT SET-II

Question 1  Explain different phases of trade cycle.

Answer- Phases of trade cycle

Basically, a business cycle has only two parts – expansion and contraction or prosperity and depression. Peaks and troughs are the two main mark-off points of a business cycle. The expansion phase starts from revival and

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Question  2 Explain different objectives of pricing policies.

Answer- The following objectives are to be considered while fixing the prices of the product:

1. Profit maximisation in the short term – The primary objective of the firm is to maximise its profits. Pricing policy as an instrument to achieve this objective should be formulated in such a way as to maximise the sales revenue and profit. Maximum profit refers to the highest possible

Question 3 Explain causes of inflation in detail.

Answer- Causes of inflation

1. Demand side

Increase in aggregative effective demand is responsible for inflation. In this case, aggregate demand exceeds aggregate supply of goods and services. Demand rises much faster than supply.

 Increase in money supply – Supply of money in circulation increases on account of the following reasons: deficit financing by the government, expansion in public expenditure,

Directorate of Online Education

INTERNAL ASSIGNMENT SET-II

Question 1 Describe main steps in construction of index numbers.

Answer- Main steps in the construction of index numbers To follow the steps many problems are encountered which are to be discussed carefully. There are many difficulties in following the steps involved in the construction of index numbers. The following steps are discussed in detail.

1. Purpose of index number

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Question 2 Explain advantages and disadvantages of business forecasting.

Answer- Advantages of business forecasting

 Helpful in increasing profit and reducing losses

Every business is carried out with the purpose of earning maximum profits. So, by forecasting the future price of the product and its demand, the businessman can predetermine the production

Question 3 Describe utility and components of time series analysis.

Answer-  Utility of the Time Series

The following are the possible uses of the time series:

1. The comparative study of behaviour of the variable over different periods of time can be done. The variable may be export figures, quantity of industrial production etc.
2. Forecasting can be done using the time series. By studying the variations and other behaviour

Directorate of Online Education

INTERNAL ASSIGNMENT SET-II

Question 1. Discuss various types of Meetings and guidelines to be followed for the conduction of meetings.

Answer1.  According to Deborah Tannen, “A meeting is any focused conversation that has a specific agenda, especially but not only if it has been set up in advance.”1 This definition implies that meetings are not aimless discussions, but they require careful planning and revolve around a

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Question 2. Explain the salient features of Memo, Circular, and Notices that are used in an organizational workplace.

Answer2.  A memo is a letter from one person to another or others within an organization. It can be sent on a document or by electronic mail. It often reports briefly on an action, raises a question, or asks for agreement to follow a course of action.

The business memorandum, or memo, is used mainly as a formal, substantial means of

Question 3. Explain the effectiveness of Communication in the organizations through advertisement.

Answer3.  Advertisements in the mass media such as magazines, newspapers, and television are used by organizations to communicate with prospective customers, both about the organization, as well as its products. As depicted in the figure, advertising may therefore be categorized into two broad

INTERNAL ASSIGNMENT SET-II

Question 1. What is motivation? Define & explain its importance for business. Further, explain theories of motivation – Maslow, theory X & Y, Herzberg’s 2 factor theory.

Answer-  Leading helps in achievement of goals. A manager makes use of the element of motivation to improve the performances of subordinates. This can be done by providing incentives or compensation, whether monetary or non-monetary, which serves as a “morale

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Question 2. Explain the concept of leadership. Are leaders born or made? Critically comment. Explain leadership styles as per managerial grid

Answer- One question that would come into our mind when we want to learn about leadership is whether it can be taught? The Greek general and historian, Xenophon, argued that leadership can be developed. Aristotle, on the other hand, asserted that men are destined the way they are born. William Shakespeare, “some are born great, some achieve greatness, and some have greatness thrust upon them”. You can see that there are already three views, i.e., positive, negative, and

Question 3 What is change? Define. Explain Kotter’s 8 steps of change process. Support your answer with relevant examples.

Answer- Change is a part of life and provides opportunity for growth. It is a conscious decision by the management of organisation.

In any organisation, we have people engaged in production, research, development, administration, etc. The organisation in order to change should prepare a stock of the situation