M.COM 3rd SEMESTER
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ASSIGNMENT SPRING DRIVE 2014
M.COM SEMESTER III
SUBJECT CODE & NAME MCC 301 & RESEARCH METHODOLOGY
1 What are the criteria of a good research? 10 Marks
Answer:- A good research follows logical methods, is systematic, and structured in accordance with well-defined sets of rules and practices to enable the researcher in arriving at dependable conclusions. Both, deductive reasoning and inductive reasoning should be followed for meaningful research.
Good research also implies obtaining reliable data which provides sound validity to the research findings.
The following principles underlie a good research criteria:
– The aim and objective of the research being conducted should be clearly specified.
– The research procedure should be replicable so that if the research needs to be continued or repeated, it can be done easily.
2 Discuss the steps in a sampling survey. 10 Marks
Answer:- The following points should be kept in mind before designing a sample
– Type of universe: Define the universe or set of objects to be studied.The universe can be finite or infinite. In the finite universe, the number of items is certain, while in the infinite universe, it is uncertain. An example of the former is the number of industrialists in a country, and the latter, the number of stars in the sky.
– Sampling unit: This is the group from which the sample is to be drawn. For example, a population unit can be in terms of people’s age, gender, etc and a housing unit like bungalow, flat, etc, or an educational unit like university, college, school, etc.
3 Evaluate some of the concepts used in experiments. 10 Marks
Answer:- Independent variables: Independent variables are also known as explanatory variables or treatments. The levels of these variables are manipulated (changed) by researchers to measure their effect on the dependent variable. In the case of our example, independent variable (treatment) consisted of the sales training programme.
– Test units: Test units are those entities on which treatments are applied. The researcher is often interested in measuring the effect of treatment on test units. The examples of test units include individuals, organizations and geographic areas. In the case of our example, test units were the sales personnel who were sent for the training programme.
– Dependent variables: These variables measures the effect of treatments(independent variable) on the test units. The examples of dependent variables can include sales, profits, market share and brand awareness. In the case of our example, dependent variable consisted of sales.
4 Discuss the various types of formal experimental designs by giving suitable examples. 10 Marks
Answer:- Experimental designs are the structures of an experiment, which are of two types– informal and formal. Informal designs have less sophistication and less control while the formal designs offer more control and lend themselves to the use of precise statistical procedures for analysis.
The informal experimental designs:
(i) Before-and-after without control design
(ii) After-only, with control design
(iii) Before-and-after with control design
The formal experimental designs:
5 Describe different types of interviews for qualitative research. 10 Marks
Answer:- The focused interview
First part: It has unstructured questions, like ‘What did you like most about’?
Second part: Semi-structured questions–they are left open-ended for being able to get a feel about a given rule.
Third part: Structured questions like ‘Was the lecture informative’?
Problem-centred interview
It involves asking questions like ‘How open do you show the allergy’?
6 List the precautions to be taken to ensure error-free interpretation. 10 Marks
Answer:- The task of interpreting the findings of a study are demanding and involve considerable skills acquired through exposure and practice. It is appropriate to seek expert advice as and when needed to interpret one’s findings. The techniques involved in the process of interpretation have several steps as follows:
– All relationships that have been found in the course of the study must be explained adequately. Any common link that ties the findings together must be clearly identified. This is the beginning of the process of generalization following a study;
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ASSIGNMENT SPRING DRIVE 2014
M.COM SEMESTER III
SUBJECT CODE & NAME MCC 302 & STRATEGIC MANAGEMENT
1 Discuss the dimensions and levels of strategic decisions 10 Marks
Answer:- There are six typical dimensions that are identifiable in strategic issues. They:
(i) Require decisions to be made by top management
(ii) Involve the allocation of a large amount of resources of the company
(iii) Have a significant impact on the prosperity of the firm in the long run
(iv) Are future-oriented
(v) Have multi-functional or multi-business consequences
(vi) Make it necessary to consider the external environment factors
The main hierarchical levels of strategy planning are:
(i) Corporate level
(ii) Business level
(iii) Functional level
2 Write a note on overall cost leadership. Discuss the possible pitfalls of an overall cost leadership strategy. 10 marks
Answer:- The first generic strategy is overall cost leadership. Cost leadership requires a set of interrelated tactics that include:
- Aggressive construction of efficient-scale facilities
- Vigorous pursuit of cost reductions from experience
- Tight cost and overhead control
- Avoidance of marginal customer accounts
- Cost minimization in all activities in the firm’s value chain, as R&D, service, sales force, and advertising
3 Describe different environmental scanning techniques. 10 Marks
Answer:- The monitoring process that identifies the opportunities and threats affecting the business is known as environmental scanning. When the environmental scanning process finishes, planners gather all the information related to the opportunity and threats of the organization. Following are the techniques used for environmental scanning:
– ETOP analysis: Environmental Threat and Opportunity is a device that considers environmental information and determines the relative impact of threats and opportunities for the systematic evaluation of the environmental scanning. This analysis divides the environment into different sectors and then analyses their effect on the organization. In this analysis, various environmental factors and their effect on future are depicted. For example, the environment analysis of Hindustan Aeronautics Limited (HAL) shows the opportunities and threats of the
4 Explain strategic alternatives. What are the factors that influence the growth of an organization? 10 marks
Answer:- Inadequate planning is one of the major factors hindering the growth and development of organizations. Therefore, it becomes essential for these organizations to determine a strategy which is conducive in achieving its goals and objectives. In order to achieve these goals and objectives, an organization needs to identify certain strategic alternatives which are at their disposal. After selecting an appropriate strategy, i.e., a strategy which has the highest probability of improving the organization’s competitiveness, the organization needs to effectively implement this strategy. A strategy is only deemed advantageous if the organization implements it effectively. Hence, more emphasis needs to be given to the effective implementation of the strategy. Some of the strategic alternatives and their focus have been mentioned as follow.
– Status quo: This alternative focusses on the internal aspects of the organization. It also stresses on issues of stability and the organizations presence in the market
5 Explain the two variations of divisional form of organizational structure. 10 Marks
Answer:- There are two variations of the divisional form of organizational structure:
1. Strategic business unit (SBU) structure
2. Holding company structure
1. Strategic business unit (SBU) structure
Corporations that are highly diversified, such as Unilever, may consist of dozens of different divisions. Now, if Unilever were to use a purely divisional structure, it would be nearly impossible for the corporate office to plan and coordinate activities as the span of control would be too large. Instead of attaining synergies, Unilever has put its diverse businesses into few primary SBUs. With an SBU structure, segments with corresponding markets congregate to .
6 What are the activities which are covered under the primary division of value chain analysis? 10 Marks
Answer:- Operations
Activities in this category are concerned with the efficiency of plant operations which will result in minimizing costs; use of appropriate level of automation in manufacturing; employment of production control systems of quality that will result in reducing costs and increasing quality; ensuring that the plant layout and workflow design is efficient.
Operations include all activities concerned with changing inputs into outputs, that is giving the final form to the product or service. The inputs here refer to activities such as machining, assembly, testing, printing, packaging and facility operations.
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ASSIGNMENT SPRING DRIVE 2014
M.COM SEMESTER III
SUBJECT CODE & NAME MCC 303 & SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT
1 Explain the internal business risk 10 Marks
Answer:- Internal business risk
Internal business risk is associated with the operational efficiency of the firm. The operational efficiency differs from company to company. The efficiency of operation is reflected on the company’s achievement of its pre-set goals and the fulfillment of the promises to its investors.
1. Fluctuations in sales: Sales level has to be maintained. It is common in business to lose customers abruptly because of competition. Loss of customers will lead to a loss in operational income. Hence, the company has to build a wide customer base through various distribution channels. Diversified sales force may help to tide over this problem. Big corporate bodies have long chain of distribution channel. Small firms often lack this diversified customer base.
2 How are multiple year holding stock prices estimated with the two-stage and three-stage growth models. 10 Marks
Answer:- Two-Stage Growth Model
The constant growth model is extended to two-stage growth model. Here, the growth stages are divided into two, namely, a period of extraordinary growth (or decline) and a constant growth period of infinite nature. The extra ordinary growthperiod will continue for some period followed by the constant growth rate. The information technology industry, for example, is at present experiencing an extraordinary growth rate. It may continue for sometime and afterwards it may maintain constant growth rate.
The present value of the stock or price = Present value of the dividend during the above normal growth period
Present value of stock price at the end of the above normal growth period
3 Describe the concepts of filter rule, runs test and serial correlation 10 Marks
Answer:- Filter rule
To earn returns technical trading strategies based on historical prices have been used. Filter rule is one among such strategies. According to this strategy, if a price of a security rises by atleast x per cent, investor should buy and hold the stock until its price declines by atleast x per cent from a subsequent high. Short sellers can use the filter to earn profits by liquidating their holdings when the price decreases from a peak level by x per cent. They can take up short position as the price declines till the price reaches a new low and then increases by ‘x’ percentage. Different filter rules are used by different traders. It ranges from as small as .5 per cent to as large as 50 per cent.
4 How would an investor select a portfolio based on asset mix objective? 10 Marks
Answer:- The selection of portfolio depends on the various objectives of the investor. The selection of portfolio under different objectives are dealt subsequently.
Objectives and asset mix
If the main objective is getting adequate amount of current income, sixty per cent of the investment is made on debts and 40 per cent on equities. The proportions of investments on debt and equity differ according to the individual’s preferences. Money is invested in short-term debt and fixed income securities.
5 Following are data for Anand Products (Rs. in lakhs) 10 Marks
| 1998 1998 |
| Assets 6000 Revenues 6600
Short term liabilities 450 Operating expenses 5950 EBIT 650 8% debenture 1250 Dividend 50 10% bonds 500 Interest 150 Common stock (Rs.10 par) 3500 EBT 500 Surplus 300 Taxes 200 |
a) Find out the following ratios:
i) Asset turnover
ii) Effective interest rate
iii) Effective tax rate
iv) Debt/equity ratio
v) Dividend payout rate
b) What growth rate of EBIT can be expected?
Solution: Asset turnover = 6600 =1.1
6000
Effective interest rate = 150 = 0.07
2200
6 Consider two situations, a young man X in his early twenties– and single another young man, Y, in his late thirties–married with responsibilities. X and Y earn the same amount of money. Y has a family, a house, a car and all the encumbrances associated with the marital status. Both of them like to invest in securities. What would be their constraints and objectives? 10 Marks
Answer:- In the given situation X can be identified responsibility free young man whereas Y is a middle aged responsibility clad man. So their investment behavior is bound to be different given their differences in current situation. Married man is less likely than single man to choose a riskier portfolio.
Attitude to risk depends on a wide variety of factors including age, income and wealth, gender, marital status, personality, educational attainment, and level of financial knowledge and experience.
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ASSIGNMENT SPRING DRIVE 2014
M.COM SEMESTER III
SUBJECT CODE & NAME MCC 304-MANAGEMENT ACCOUNTING
1 Identify the scope and role of management accounting 10 Marks
Answer:- Management accounting is concerned with presentation of accounting information in the most useful way for the management. Its scope is, therefore, quite vast and includes within its fold, almost all aspects of business operations. However, the following areas can rightly be identified as falling within the ambit of management accounting:
(i) Financial accounting: Management accounting is mainly concerned with the rearrangement of the information provided by financial accounting; hence management cannot obtain full control and coordination of operations without a properly designed financial accounting system.
2 Discuss the limitations of accounting ratios. 10 Marks
Answer:- Accounting ratios are subject to certain limitations. They are given below:
1. Comparative study required: Ratios are useful in judging the efficiency of the business only when they are compared with the past results of the business or with the results of a similar business. However, such a comparison only provides a glimpse of the past performance and forecasts or future may not prove correct since several other factors like market conditions, management policies, etc., may affect the future operations.
3 Explain the meaning and objectives of pricing. What are the different types of prices? 10 Marks
Answer:- Pricing is not a onetime affair. It may have to be revised from time to time. It, thus, requires dynamic decision-making, keeping in mind the market behaviour, management needs, legal restrictions and social environment. The price of a product may thus vary over time, classes of customers and places. However, while pricing, the basic premise of maximizing contribution towards meeting the fixed costs, does not change.
The objectives of pricing can be summarized as follows:
4 Define some of the indicators which can be used to measure the social costs and benefits associated with projects. 10 Marks
Answer:- 1. Employment potential: The impact of the proposed project on the employment situation is an important consideration in a developing country like India. A project having higher employed potential has to be preferred over a project having a lower employment potential.
2. Capital output ratio: This ratio measures the expected output in relation to the capital employed in the project. Since capital is a scarce resource, the desirability of a project can be judged on the basis of the return which the project is expected to give the on capital employed in the project. This criterion is particularly important in case of developing countries which suffer from a constraint of capital resources. According to this criterion, a project giving a higher output per unit of capital employed is to be preferred over a project giving a lower output.
5 The following figures relate to the trading activities of ABC Ltd. for the year ended as on 31 March 2012:
Sales Rs.10,00,000; Purchases Rs 7,00,000; Opening stock Rs 1,10,000; Closing stock Rs 1,40,000, Sales return Rs 40,000; Selling and distribution expenses: (a) Salaries Rs 18,000; (b) Advertising Rs 7,000; (c) Travelling Rs 5,000; Administrative expenses; (a) Salaries Rs 30,000; (b) Rent Rs 6,000; (c) Stationery, Postage etc., Rs 2,000; Depreciation Rs 10,000; Other Charges Rs 20,000; Provision Taxation Rs 70,000.
Non-operating Incomes: (a) Dividend Received Rs 12,000 (b) Profit on sale of fixed assets Rs 6,000. Non-operating expense: Loss on sale of shares Rs 3,000. You are required to rearrange the figures in a form suitable for analysis. 10 Marks
Solution: INCOME STATEMENT
|
2011 2012
Sales 1,00,000 2,00,000 Cost of Goods Sold 60% of Sales 70% of Sales Indirect Expenses 10% of Gross Profit Rate of Income Tax 50% of Net Profit before Tax
|
6 Prepare a comparative income statement of X Ltd., with the help of the following information10 Marks
Solution: X Ltd. COMPARATIVE INCOME STATEMENT
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