OPERATIONS MANAGEMENT

 

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

 

AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL

 

 

 

 

 

 

 

SUBJECT: OPERATIONS MANAGEMENT

 

Q1) Explain the concept Six Sigma. Bring out the significance of Six Sigma in Quality Management?

Answer: - Six Sigma at many organizations simply means a measure of quality that strives for near perfection. Six Sigma is a disciplined, data-driven approach and methodology for eliminating defects (driving toward six standard deviations between the mean and the nearest specification limit) in any process – from manufacturing to transactional and from product to service.

Significance of Six Sigma in Quality Management

Quality Management System

Six Sigma approach is a quality management system which is increasingly used in various industries nowadays. No one can deny the

 

 

Q2) Define Project Management and explain its nature and features?

Answer:- Project management is the process and activity of planning, organizing, motivating, and controlling resources, procedures and protocols to achieve specific goals in scientific or daily problems. A project is a temporary endeavor designed to produce a unique product, service or result  with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables), undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value. The temporary nature of projects stands in contrast with business as usual (or operations),[4] which are repetitive, permanent, or semi-

 

Q3) What is Process Analysis? Explain the steps in Manufacturing Process Selection and Design?

Answer: – A step-by-step breakdown of the phases of a process, used to convey the inputs, outputs, and operations that take place during each phase. A process analysis can be used to improve understanding of how the process operates, and to determine potential targets for process improvement through removing waste and increasing efficiency.

Explain the steps in Manufacturing Process

 

Q4) Enumerate and explain the Theory of Constraints?

Answer: - The theory of constraints (TOC) is a management paradigm that views any manageable system as being limited in achieving more of its goals by a very small number of constraints. There is always at least one constraint, and TOC uses a focusing process to identify the constraint and restructure the rest of the organization around it.

TOC adopts the common idiom “a chain is no

Q5) Write short notes (any two)

  1. a) Inventory Control
  2. b) Operations Scheduling
  3. c) Aggregate Sales and Operations Planning

Answer: - Inventory Control:- Inventory Control is the supervision of supply, storage and accessibility of items in order to ensure an adequate supply without excessive oversupply. It can also be referred as internal control – an accounting procedure or system designed to promote efficiency or assure the implementation of a policy or safeguard assets or avoid fraud and error etc.

Inventory control may refer to:

In economics, the inventory control problem, which aims to reduce overhead cost without hurting sales In the field of loss prevention,

 

  1. b) Operations Scheduling:- In the operations management or the production management, this technique of operations scheduling forms a very important part and acts as the back – bone for the performance of the manufacturing or the service organizations. With the help of the operations scheduling, two very important factors or the aspects of the resources within an organization that can be pertained are as follows –
  • Allocating the resources within an organization.
  • Setting up the time – table.

In today’s competitive world, the orders that are placed either from the side of the customer or from the side of the assembly benches – are to be

 

 

Q6) Explain the following concept (any two)

1) Product Design

2) Strategic Capacity Management

3) Lean Productions

Answer:-

Product Design:- Product design is the process of creating a new product to be sold by a business to its customers. A very broad concept, it is essentially the efficient and effective generation and development of ideas through a process that leads to new products.

In a systematic approach, product designers

 

Q7) Define Material Requirements Planning. Discuss its various components?

Answer:- Material requirements planning (MRP) is a production planning, scheduling, and inventory control system used to manage manufacturing processes. Most MRP systems are software-based, while it is possible to conduct MRP by hand as well.

An MRP system is intended to simultaneously meet three objectives:

  • Ensure materials are available for production and products are available for delivery to customers.

Q8) What is Supply Chain Strategy? Discuss its characteristics?

Answer: - Supply chain management (SCM) is the management of the flow of goods, flow of cash, and flow of information internally and externally of a company or a group of companies that share the same value chain. It includes the movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption; cash or credit in purchasing or selling of products or services; as well as the information that conducts those activities, such as orders, demand forecast, or even picking lists. Interconnected or interlinked networks, channels and node businesses are involved in the provision of products and services required by end customers in a supply chain.[2] Supply chain management has been defined as the “design

 

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OPERATION MANAGEMENT

 

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

 

 

 

 

 

 

 

SUB: OPERATION MANAGEMENT

N.B.: 1) Attempt any Eight Questions

2) All questions carries equal marks.

 

Operations Management

Q1 How would operations strategy for a service industry be different if any from that for a manufacturing industry ?  (Its an example & explain)

 

Answer : Consider that any manufacturer could incorporate (bring inside) any service endeavor and add that service to it’s portfolio, either for internal use or for sale. Alternatively, another manufacturing model is to outsource all work efforts to design and build product where ultimately the holding company merely owns the rights and the profits of the venture. The manufacturing model must provide a horizontal spectrum of work efforts in support of the product-life-cycle within the company community.
 

 

Q2 Consider the following two mutually exclusive projects.  The net cash flows are given below If the desired rate of return is 10% which project should be chosen ?

Answer :  If we apply the NPV criterion, and risk adjusted discount rates, we have

 

Some definitions:

 

Net Present Value:

 

CF1           CF2             CF3            CF4

NPV =   – CFo + ——— + ———- + ———- + ———-

(1 + r)^1     (1 + r) ^2     (1 + r) ^3   (1 + r) ^4

 

 

 

 

 

Q3 What are the levels of aggregation in forecasting for a manufacturing organization?  How should this hierarchy of forecasts be linked and used ?

Answer :  In demand planning terminology, Forecast Reconciliation is also referred to as Bottom-up and Top-down Forecasting or Proportional Forecasting. Forecast Reconciliation, however, could also stand for reconciling the demand forecast with a modeled forecast vs. a judgmental forecast or a financial forecast.

 

we can reconcile a top-down forecast and Bottom-up forecast through aggregation and disaggregation methodology. The second title is more direct in

 

 

Q4 How would forecasting be useful for operations in a BPO (Business processes outsourcing) unit ?  What factors may be important for this industry ?  Discuss .

 

Answer :  Forecasting would be very important for operations in a BPO unit. Forecasting, in essence, makes for the ability to be proactive, intuitive and strategic, and it may very well be the differentiating factor between success and failure. You can have cash-flow forecasts, operating budget forecasts, call/e-mail/chat volume forecasts, forecasts for attrition and absenteeism of

 

 

Q5 A good work study should be followed by good supervision for getting good results.  Explain with an example.

 

Answer :  In fact changing the order of the question can make that more of the answer — i.e. Good supervision leads a good work study to get good results. I’ll relate a personal experience.

In one of the companies try to identifying the major problems, it was discovered that one of the biggest problems was determining from the individual

 

 

Q6 What is job evaluation ? Can it be alternatively used as job ranking ?  How does one ensure that job evaluation evaluates the job and not the man ?Explain with examples ?

Answer :  Job evaluation, in my experience, is used to measure the relative ‘size’ of jobs – which would indeed then enable them to be ranked within a pay and grading structure. It is a good way for an organization to minimize risk of equal pay claims as it is able to

 

 

Q7 What is the impact of technology on jobs ?  What are the similarities between job enlargement  & job rotation ?  Discuss the importance of training in the content of job redesign ?  Explain with examples ?

Answer :  Technology’s hold on the modern workplace cannot be seriously disputed. Since work stands at the core of vocationalism, few issues are as important to vocational educators as technology. As indicated earlier, technology might be a unifying theme in the

 

Q8 What is an internet connectivity ?  How is it important in to days business would with respect to materials requirement planning & purchasing.  Explain with examples ?

 

Answer : “Internet connectivity” in the simplest terms means connection to the internet; having a live website, being able to access/surf the web.

The internet has a global reach and millions of businesses around the world take advantage of that by maintaining and advertising their own little space on it — their website. A website can be an informational tool, a marketing tool, an order processing tool, investor

 

Q9 Would a project management organization be different from an organization for regular manufacturing in what ways.  Examples.

Answer :  A project management organization starts with the projects and ends with the project. Maybe the same people will start another project, maybe some of them will be different, but they do not belong to the original project because it’s finished.

A manufacturing organization works normally with programs, tasks that never end. Let me put you an example: Suppose you are going to manufacture T-shirts,

 

 

 

Q 10 How project evaluation different from project appraisal?  Explain with examples.

 

Answer :  Appraisal and evaluation are essential parts of good financial management. The general principles should apply to any proposal – whether project, programme or policy related – with implications for expenditure / use of resources.

The effort that should go into appraisals and evaluations and the detail to be considered is a matter of judgment.

Appraisal involves the preparation of Pre-Expenditure Assessments (PEAs). PEAs must be undertaken for any proposal with significant resource implications.

 

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INTERNATIONAL BUSINESS

 

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

 

AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL

 

 

 

 

 

 

 

 

SUBJECT : INTERNATIONAL BUSINESS

PART A

Q.1 What is meant by Technology? What is its influence on business?

Answer: - Technology is the collection of tools, including machinery, modifications, arrangements and procedures used by humans. Engineering is the discipline that seeks to study and design new technologies. Technologies significantly affect human as well as other animal species’ ability to control and adapt to their natural environments. The term can either be applied generally or to specific areas: examples include construction technology, medical technology and information technology.

The human species’ use of technology began with the conversion of natural resources into simple tools. The prehistoric discovery of how to control fire increased the available sources of food and the invention of the wheel helped humans in travelling in

 

Q.2 What are the functions of WTO?

Answer: - The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on 1 January 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948.The organization deals with regulation of trade between participating countries by providing a framework for negotiating and formalizing trade agreements and a dispute resolution process aimed at enforcing participant’s adherence to WTO agreements, which are signed by representatives of member governments[6]:fol.9–10 and ratified by their parliaments.Most of the issues that the WTO focuses on derive from previous

 

Q.3 What is international business environment?

Answer:-

  • The international business environment can be defined as the environment in different sovereign countries, with factors exogenous to the home environment of the organization, influencing decision-making on resource use and capabilities.
  • The political environment in a country influences the legislation and government rules and regulations under which a foreign firm

Q.4 How cultural factors do influences international business?

Answer:- As a result of the globalization, the increasingly close interaction between firms which are from different cultures has been booming. Therefore, culture, which is manifest in behavioral norms, hidden assumptions, and human nature, each occurring at a different level of depth, has profound influences on international business. (Kilmann, Sfixton, Serpa 1986) Under this circumstance, in order to negotiate and deal with foreign partners more efficiently, and to enter new markets successfully as well, we should explore the exotic cultures and in what manners those magical cultures will affect the way we trade

Generally speaking, culture is consisted of

 

Q.5 State the importance of business ethics.

Answer: - Working as an ethical business has many benefits, not least of which is the ability to attract and keep investors, employees and customers.  Knowing that the company they deal with has stated their morals and made a promise to work in an ethical and responsible manner allows investors peace of mind that their money is being used in a way that aligns with their own moral standing. When working for a company with strong Business Ethics, employees are comfortable in the knowledge that they are not by their own action or inaction allowing unethical practices to continue.  Customers are at ease buying products or services from a company

 

 

PART B

2) Discuss in detail the environmental factors that affect a business.

Answer: - Meaning: The location of an industrial enterprise is an important problem which its promoters have to deal with. It is the responsibility of promoters to search out that location at which the enterprise will have easy access to raw materials, labour, power, markets and certain services like banking, transportation, communication, insurance and warehousing. As far as possible, the location must be optimum so that the costs of production and distribution are the lowest. If the location of a plant is not suitable, it may cause many types of problems. For instance, transportation cost may be higher and right type of labour may not be available. It may also restrict the growth of the firm. The problem of location is faced not only by new

 

3) What is privatization? What are its merits and limitations?

Answer: - Privatization is the process of transferring ownership of a business, enterprise, agency, public service or property from the public sector (government) to the private sector or to private non-profit organizations. The term is also used in a quite different sense, to mean government out-sourcing of services to private firms.

Government takes this step whenever any government enterprise does loss continuously or if the enterprise decreases profit alarmingly or if the

 

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General Management

 

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

 

AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL

 

 

 

 

 

 

 

 

SUBJECT: General Management

 

 

Q.1 What is Input & Output model?

Answer: - An input–output model is a quantitative economic technique that represents the interdependencies between different branches of a national economy or different regional economies.Wassily Leontief (1905–1999) is credited with developing this type of analysis and took the Nobel Prize in Economics for his development of this model.

The International Input-Output Association is dedicated to advancing knowledge in the field of input–output study, which includes “improvements in basic data, theoretical insights and modelling, and applications, both traditional and novel, of input-output

 

Q.2 Describe some major kinds of strategies/policies & the hierarchy of strategies?

Answer: - The ‘hierarchical strategy’ advocated here involves a combination of group letter writing and face-to-face dialogue and learning support, focusing on one major local organization or branch. The aim is to inform and raise the understanding of the people at the top of hierarchies, eventually seeking to influence the president or prime minister of a nation.

An individual, but preferably a small local group attempts to influence the personnel in a significant and relevant local organization. Retired people may be offer substantial effort here. Getting to the top can achieved by letter writing to obtain appointments with relatively high level staff, offering learning support on climate change, and trying then to

 

  1. What do you mean by reengineering organization & Explain key aspects?

Answer:- Reengineering an organization is simply the process of reviewing all the different levels of an organization’s way of doing business and considering how to improve things. The goals of reengineering include increased company profits, improved competitive advantage in the marketplace and enhanced public image. Reengineering requires an organization to look closely at its strengths and weaknesses, ask difficult questions where necessary and make changes for the better of the organization.

The idea of reengineering an organization is

 

  1. What is departmentation & Types of departmentation?

Answer:- Departmentation means division of work into smaller units and their re-grouping into bigger units (departments) on the basis of similarity of features. Each department is headed by a person known as departmental manager.

Types of Departmentation

  • Functions, e.g., sales, production, personnel, planning, transport, etc.
  • Products, e.g., air-conditioners, accounting machines, electronic calculators, etc.
  • Territory, region, or geographical area, e.g., Northern Railway, Western Railway, N.E. Railway, etc.

 

  1. Distinguish strength of appraisal against verifiable objectives?

Answer: - The strengths of appraising against accomplishment of objectives are almost the same as those of managing by objectives. Both are part of the same process, basic to effective managing and are means of improving the quality of managing.

In the area of appraising, there are special and important strengths. Appraising on the basis of performance against verifiable has the great advantage of being operational. Appraisals are not apart from the job that mangers do but are a review of what they actually did as managers.

There are always questions of how well a person did; of whether goals were missed or accomplished, and for what reasons; and of how much in the way of goal attainment should be expected. But information about what a person has done,

 

  1. Explain Maslow hierarchy of needs theory?

Answer:- Maslow’s hierarchy of needs is a theory in psychology proposed by Abraham Maslow in his 1943 paper “A Theory of Human Motivation” in Psychological Review.[2] Maslow subsequently extended the idea to include his observations of humans’ innate curiosity. His theories parallel many other theories of human developmental psychology, some of which focus on describing the stages of growth in humans. Maslow used the terms Physiological, Safety, Belongingness and Love, Esteem, Self-Actualization and Self-Transcendence needs to

 

  1. Define Leadership with examples?

Answer:- Define leadership is just the first step for someone who how wants to be a standout leader. So, what is leadership? Leadership is when an individual chooses to be the one in charge, someone who can provide answers and not be afraid to ruffle a few feathers. They are willing to travel down the road that others fear. A good leader is not scared off and is willing to make tough decisions during tough situations.

  1. How Southwest Handled 9/11

 

  1. Explain communication flow in the organization?

Answer: - In an organization, communication flows in 5 main directions-

  • Downward
  • Upward
  • Lateral
  • Diagonal
  • External
  1. Downward Flow of Communication: Communication that flows from a higher level in an organization to a lower level is a downward communication. In other words, communication from superiors to subordinates in a chain of command is a downward

 

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Financial & Cost Accounting

 

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

 

AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL

 

 

 

 

 

 

 

SUBJECT: Financial & Cost Accounting

 

Q1. Differentiate between idle cost and standard cost?

Answer: - Normal costing is used to value manufactured products with the actual materials costs, the actual direct labor costs, and manufacturing overhead based on a predetermined manufacturing overhead rate. These three costs are referred to as product costs and are used for the cost of goods sold and for inventory valuation. If there is a difference between 1) the overhead costs assigned or applied to products, and 2) the overhead costs

 

Q2. What is a trial balance? Explain its objective.

Answer: - Trial Balance is a list of closing balances of ledger accounts on a certain date and is the first step towards the preparation of financial statements. It is usually prepared at the end of an accounting period to assist in the drafting of financial statements. Ledger balances are segregated into debit balances and credit balances. Asset and expense accounts appear on the debit side of the trial balance whereas liabilities, capital and income

 

Q3. Distinguish between Accrual basis of accounting and cash basis of accounting.

Answer:- Accrual accounting does not consider cash when recording revenue; in most cases, goods must be transferred to the buyer in order to recognize earnings on the sale. An accrual journal entry is made to record the revenue on the transferred goods as long as collection of payment is expected.

  • In accrual accounting, expenses incurred in the same period that revenues are earned are also accrued for with a journal entry. Same as revenues, the recording of the expense is unrelated to the payment of cash.
  • For a seller using the cash method

 

Q4. Standard costing is a valuable aid to management discuss. State in brief limitation of standard costing?

Answer: - Standard costing is an important subtopic of cost accounting. Standard costs are usually associated with a manufacturing company’s costs of direct material, direct labor, and manufacturing overhead.

Rather than assigning the actual costs of direct material, direct labor, and manufacturing overhead to a product, many manufacturers assign the expected or standard cost. This means that a manufacturer’s inventories and cost of goods sold will begin with

 

Q5. Define Budgetary Control and explain the pre-requisites for its successful introduction and implementation?

Answer:- Budgetary Control:- Budgetary control is the process of developing a spending plan and periodically comparing actual expenditures against that plan to determine if it or the spending patterns need adjustment to stay on track. This process is necessary to control spending and meet various financial goals. Governments rely heavily on budgetary control to manage their spending activities, and this technique is also used by companies as well as

 

Q6. How the total cost, variable cost and marginal cost differ from each other?

Answer:-Total Cost: is what it costs to operate at some particular rate of output.

Total cost can be divided into two portions: Fixed Cost and Variable Cost.

Fixed Cost: Fixed Cost is the part of the budget that stays the same regardless of whether you produce a lot, a little bit, or even if you produce zero. Overhead

 

Q7. What are the advantages of cost audit?

Answer:-

  • Cost audit provides reliable cost data for managerial decisions.
  • Cost audit helps management to regulate production.
  • Cost audit acts as an effective managerial tool for the detection of errors, frauds and irregularities so that reliable and smooth functioning of the system is continued.
  • Cost audit reduces the cost of

Q8. Which are the different ways by which the cost can be analyzed?

Answer:-

THREE TYPES OF COST ANALYSIS IN EVALUATION:

Cost allocation, cost-effectiveness analysis, and cost-benefit analysis represent a continuum of types of cost analysis which can have a place in program evaluation. They range from fairly simple program-level methods to highly technical and specialized methods. However, all have specialized and technical aspects. If you are not already familiar with these methods and the language used, you should plan to work with a consultant or read some more in-depth texts (see some suggested references at the end of this discussion) before deciding to attempt them.

 

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CORPORATE LAW

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

 

 

 

 

 

 

                                               

 

 

 

 

SUBJECT – CORPORATE LAW

 

Q1) Write short notes (any two) (10 Marks)

 

  1. a) Void Contracts and Void able Contracts

Answer: When dealing with contracts, the terms “void” and “voidable” are often confused. Even though these two contract types seem similar, they are actually completely different.

 

A contract that is “void” cannot be enforced by either party., The law treats a void contract as if it had never been formed. A contract will be considered void, for example, when it requires one party to perform an act that is impossible or illegal.

 

A “voidable” contract, on the other hand, is a valid contract and can be enforced. Usually only one party is bound to the contract terms in a voidable contract. The unbound party is allowed to cancel the contract, which makes the contract void.

 

 

  1. b) Standard Terms and Freedom of Contract

 

Answer: Employers will be keen to see reasons behind the ruling on a dispute about which business trading terms apply after each party has sent the other its standard terms, but they then argue over the contract. Employers should take note of the recommendation to avoid court cases by making sure that your procedures do not allow for uncertainty over whose standard terms will apply, and that your staff are trained in those procedures.

 

 

  1. c) Banking Law

Answer: Banking Law refers to the legal aspects of the duties of the bank and legal aspects related to various banking instruments.

Business aspects of Banking

  • Opening of new account
  • Kinds of accounts: current account, savings account, deposit account, joint account
  • Accounts of special customers :Minor, partnership, company, trust, married women etc.
  • Pass book
  • Over-over

 

  1. d) Negotiable Instruments

Answer: A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time with the payer named on the negotiable instrument.

Negotiable instruments are written orders or unconditional promises to pay a fixed sum of money on demand or at a certain time. Promissory notes, bills of exchange, checks, drafts, and certificates of deposit are all examples of negotiable instruments. Negotiable instruments may be transferred from one person to another, who is known as a

 

 

 

Q2) Explain the procedure of Incorporation of Companies, issuance of Prospectus and Rising of Capital? (10 Marks)

Answer: a company is nothing but an association of persons incorporated under Companies Act, having legal separate existence from its members. A company is formed under three stages, as –

  1. Promotion of a company
  2. Registration, incorporation and commencement of a company and
  3. Raising of capital

 

  1. Promotion of a company:

An idea has to come in the mind of certain persons to form a company. These persons are called promoter. He takes all necessary steps to form the company. The promoter may be an individual, association of persons, partners etc who originate the scheme for formation of the company; get together the subscribers to the

 

 

 

Q3) Explain the law of Contract and discuss the term Offer, Acceptance and Agreement ? (10 Marks)

 

Answer: Offer and acceptance analysis is a traditional approach in contract law used to determine whether an agreement exists between two parties. An offer is an indication by one person to another of their willingness to contract on certain terms without further negotiations. A contract is then formed if there is express or implied agreement. A contract is said to come into existence when acceptance of an offer has been communicated to the offeror by the offeree.

 

The offer and acceptance formula, developed in

 

 

Q4) Discuss the Fundamental Rights of the Business? (10 Marks)

Answer: Do businesses have any fundamental rights? Should businesses have any fundamental rights? Strange as these questions may seem, it is important to pose them at this point of our economic development.

 

Fundamental rights are important because they guarantee certain basics that are needed for realising the full potential of the individual. Though India became an independent nation on 15 August 1947, it was not until 26 January 1950 that its citizens — at least the educated ones — came to know about the exact fundamental rights that were being guaranteed to them by the Constitution.

 

Q5) Discuss the aims and objectives Indian Sale of Goods Act, 1930?(10 Marks)

Answer: Sale of Goods Act is one of very old mercantile law. Sale of Goods is one of the special types of Contract. Initially, this was part of Indian Contract Act itself in chapter VII (sections 76 to 123). Later these sections in Contract Act were deleted, and separate Sale of Goods Act was passed in 1930.

 

The Sale of Goods Act is complimentary to Contract Act. Basic provisions of Contract Act apply to contract of Sale of Goods also. Basic requirements of contract i.e. offer and acceptance, legally enforceable agreement, mutual consent, parties competent to contract, free consent, lawful object, consideration etc. apply to contract of Sale of

 

 

Q6) What is the Intellectual Property Rights Law. Discuss its relevance to liberalization and Globalization? (10 Marks )

Answer: Intellectual property(IP) is the creation of human intellect. It refers to the ideas, knowledge, invention, innovation, creativity, research etc, all being the product of human mind and is similar to any property, whether movable or immovable, wherein the proprietor or the owner may exclusively use his property at will and has the right to prevent others from using it, without his permission. The rights relating to intellectual property are known as ‘Intellectual Property Rights’.

Intellectual Property Rights, by providing exclusive

 

 

Q7) What is the aims and objectives of the Standards of Weights and Measures Act, 1976? (10 Marks)

Answer: The Act is another piece of consumer welfare legislation.  The Standard of weights and measures Act, 1976, aims at introducing standard in relation to weights and measures used in trade and commerce. The ultimate objective is to subserve the interests of the consumers.  The purpose of this Act is to:-

  1. i) Replace the bewildering varieties of weights and measures in use in the country by standards based on the metric system
  2. ii) Provide better protection to consumers by

 

Q8) Discuss in brief the Consumer Protection Act 1986?

Answer: This is a Central Govt. Act applicable in all states of India, to provide for the protectionof the interests of consumers and for that purpose to make provision for the establishment of consumer councils and other authorities for the settlement of consumers’ disputes and for matters connected therewith.

Definitions: -
“Complaint” means any allegation in writing made by a complaint that : -

as a result of any unfair trade practice adopted by any trader, the complainant has suffered loss or damage;

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BUSINESS ADMINISTRATION

 

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

 

AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL

 

 

 

 

 

                                               

 

Subject: BUSINESS ADMINISTRATION

Name of the Programme: Doctoral Programme in Management

Questions:

Case 1: Remains of Dream

  1. Identify and analyse the environmental factors in this case.

Ans 1:

  • Political-: Priority changes with the change in the ruling party.
  • Legal-: Strict law and order
  1. Who were all responsible for this tragic end?

Ans 2: The organizations responsible for the tragic end are:

  1. a) Uttar Pradesh government: UP government should have analysed the complete situation before hand. They should have made sure that all the necessary facilities to run a industry was in place.
  2. b) Power Ministry: Power ministry

 

 

  1. It is right on the part of the government and promotional agencies to woo entrepreneurs by promising facilities and incentives which they are not sure of being able to provide?

Ans 3:

  • Diluting political image of the nation.
  • Spoiling name of the ruling government.
  • Creating problems for entrepreneurs.

 

  1. Should there be legislation to compensate entrepreneurs for the loss suffered due to the irresponsibility of public agencies? What problems are likely to beloved and created by such legislation?

Ans 4:

  • Problems likely to be solved
  • Increase confidence

 

  1. What are the lessons of this case for an entrepreneur and government and promotional agencies?

Ans 5: Lessons for-: Entrepreneur

  • Proper environmental analysis is necessary for success.
  • Always refer for past

 

Case 2: Costs of Delay:

  1. Discuss internal, domestic and global environments of business revealed by this case.

Ans 1:

Internal/domestic environments

  1. a) The business decision making process in Indian govt. sector is pretty slow which leads to unnecessary loss of time and money. In this case, the slow process lead to loss of opportunity to buy a firm (premier Oil)
  2. b) There are much more than required levels of clearances that needs to be taken to acquire a company abroad. Application is reviewed by
  3. Discuss whether it is the domestic or global environment that hinders the globalization of Indian business.

Ans: - It’s the domestic environment which hinders the globalization of Indian business. The policies were not in place at the time the markets were opened to foreign players. It’s a misconception that in India policies cannot

 

  1. Even if Elf had not acquired Premier Oil, what would have been the impact of the delay in the clearance on IOC?

Ans: - Since the oil prices rose to $24 fro

 

 

  1. What would have been the significance of the foreign acquisition to IOC?

Ans:-

  1. a) Supply of oil to India: – this would have eased off much pressure off the Bombay high refinery which is currently producing 80%

 

  1. What are the lessons of this case?

Ans: - Strike while the iron is hot. The decision making process should be fast or you will lose the opportunity to the

 

Case 3- The Natural Thrust:

  1. Explain the environmental factors which Balsara used to its advantage.

Ans 1:

BALSARA USED ITS ADVANTAGE IN INDIA with clove oil (which has been traditionally regarded in India as an effective deterrent to tooth decay and tooth ache) as a unique selling proposition

IN MALAYSIA

 

  1. What is the strength of AAII to market ayurvedic toothpaste in USA?

Ans 2: Following are the strength of AAII to ayurvedic toothpaste market in USA. The company used the natural and herbal integrants in

 

 

 

 

 

 

Case No. 6

Different for Gamble

QUESTIONS

  1. Discuss the reasons for the initial failure of P & G in Japan.

Ans 1: P & G entered Japanese market in year 1973.P & G entered Japanese market with American products, American strategy, American managers and American sales method. This was the major reason of their failure in

 

  1. Where did P & G go wrong (if it did) in the evaluation of the Indian market and its strategy?

Ans 2: P&G entered the Indian detergent market in the early nineties with the Ariel brand through P&G India. P&G also introduced products like shampoo, medical products and personal products of men and women. The Indian detergent market was dominated by Hindustan lever Ltd from Past many centuries. So this was one of the

 

  1. Discuss the reasons for the difference in the performance of P & G in India and China.

Ans 3: The difference was because, china’s business worth several times than in India in less than 12 years, has emerged as highly promising market for P&G. When the Chinese market opened P&G was the first MNCS to enter china. The

 

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