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Answer:-  The principal ingredients of a sound disciplinary system in organisations are:

1. Location of responsibility: The responsibility of creating awareness regarding discipline is entrusted with every individual in the organisation. In case of employee indiscipline, the line manager issues only verbal and written warnings. In serious cases, which warrant discharge or suspension, the Industrial Relations Officer and other independent legal consultants need to be consulted.

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Answer:- Explain the concept of HRIS

HRIS is a key management tool which collects, maintains, analyses and reports information on people and jobs. It is a system because it integrates all the relevant data, which otherwise might have been lying in a fragmented and scattered way at various points in the larger system, converts this data into meaningful conclusions or information and makes it accessible to the persons who need it for their decisions. Read the rest of this entry →

Answer:- Definition of Management Development

Management development is related to the development and growth of the employees in an organisation through a systematic process. This development is future-oriented and prepares managers for a career of valuable contribution to the organisation. It is concerned with the learning and development of the employees. It helps in the development of the intellectual, managerial and people management skills of managers. It trains managers to understand and analyse different situations, and to arrive at and implement the correct solutions. Read the rest of this entry →

Answer: – the impact of Globalization on HR

The tendency of firms is to extend their sales and/or manufacturing to new markets abroad, and for business everywhere. The one element that is unique about every nation or company is its workforce.

A workforce that is knowledgeable and skilled at doing complex things keeps a company competitive and attracts foreign investment. Well-trained workers attract global corporations, which invest and provide employment opportunities to the workers, which in turn generate additional training and experience.

Answer:-Definition of Managerial Economics

“Managerial economics is the integration of economic theory with business practice for the purpose of facilitating decision making and forward planning by the management”1. Mc Nair and Meriam say, “Managerial economics is the use of economic modes of thought to analyse business situation”

Scope of Managerial Economics

The scope helps in understanding the subject, area of

Answer: – Practical application of price elasticity 

1. The concepts of elasticity and optimization

Students seem to have great difficulty with understanding the concept of elasticity. In part this perhaps reflects a reliance on the visual concept, for example they have less trouble when get to partial elasticity’s (which of course are very difficult to visualize), but also because of lazy terminology by teachers and lecturers . Too often in their initial introduction to economics  students are shown linear demand function that have different slopes and are told that they are examples of elastic or inelastic demand. Hence they look at the slope of the linear demand function and use it to interpret elasticity. Read the rest of this entry →

Answer:- Define Inflation

Inflation is statistically measured in terms of percentage increase in the price index, as a rate (percent) per unit of time- usually a year or a month. The trend of price indices reveals the course of inflation in the economy. Usually, the Wholesale Price Index (WPI) numbers are used to measure inflation. Alternatively, the Consumer Price Index (CPI) or the cost of living index can be adopted to measure the rate of inflation. In order to measure the percentage rate of inflation, the following formula can be used:

Percentage rate of inflation, P[t] = Change in Pr ice[t] / Pr ice [t 1] x 100

Change in price [t] = P [t] – P [t-1]. Here, P = price level [t], [t-1] = periods of calendar time in which the observations are made. Read the rest of this entry →

Answer:- Hypothetical Cost Schedule

Answer: – Define Monopoly

Monopoly means existence of a single seller in the market. Monopoly is that market form in which a single producer controls the whole supply of a single commodity which has no close substitutes. Monopoly may be defined, as a condition of production in which a single firm has the power to fix the price of the commodity or the output of the commodity. It is a situation there exists a single control over the market producing a commodity having no substitutes with no possibilities for anyone to enter the industry to compete. Read the rest of this entry →

Answer:-

Production function

The entire theory of production centres revolves around the concept of production function. A “production function” expresses the technological or engineering relationship between physical quantity of inputs employed and physical quantity of outputs obtained by a firm. It specifies a flow of output resulting from a flow of inputs during a specified period of time. It may be in the form of a table, a graph or an equation specifying maximum output rate from a given amount of inputs used. As it relates inputs to outputs, it is also called “input-output relation.” The production is purely physical in nature and is determined by the quantum of technology, availability of equipments, labour, raw materials, etc. employed by a firm. Read the rest of this entry →

Answer:- Assumptions of marginal costing (all 7 points)

1. Segregation of cost into fixed and variable

The whole principle of marginal costing is based on the idea that some costs vary with production while some costs don’t. Therefore, it is assumed that a clear bifurcation between fixed and variable costs is possible. Even if some costs do not entirely qualify as fixed or as variable, it is still possible to separate such mixed cost with respect to the amount, which remains fixed and the amount which varies with production.

2. Volume is the only factor which influences the cost

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Answer:- Meaning of cash flow analysis

Cash flow analysis is an important tool of financial analysis. It is the process of understanding the change in position with respect to cash in the current year and the reasons responsible for such a change. Incidentally, the analysis also helps us to understand whether the investing and financing decision taken by the company during the year are appropriate are not. Read the rest of this entry →

Solution:- Infosys Technologies Ltd.

Trend Analysis

Comment: The Revenue and Operating Profit (PBIDT) have almost doubled in four years. The PAT from ordinary activities has increased by 77.26% in the same period.

Solutions:-

Dr.                              Ledger accounts Furniture and fittings a/c                                    Cr.                                                                 

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Solution:-

 Solution:-

Answer:- Analysis of Variance (ANOVA) is useful in such situations as comparing the mileage achieved by five different brands of gasoline, testing which of four different training methods produce the fastest learning record, or comparing the first-year earnings of the graduates of half a dozen different business schools. In each of these cases, we would compare the means of more than two samples. Hence, in most of the fields, such as agriculture, medical, finance, banking, insurance, education, etc., the concept of ANOVA is used.

In statistical terms, the difference between two statistical data is known as variance. When two data are compared for any practical purpose, their difference is studied through the techniques of ANOVA. With the analysis of variance technique, we can test the null hypothesis and the alternative hypothesis.

Null hypothesis, ‘H0’: All sample means are equal. Alternate Hypothesis, ‘H1’: All sample means are not equal or at least one of the samples means differ.

Assumptions for study of ANOVA

The underlying assumptions for the study of ANOVA are:

1. Each of the samples is a simple random sample
2. Population from which the samples are selected are normally distributed
3. Each of the samples is independent of the other samples
4. Each of the population has the same variation and identical means
5. The effect of various components are additive.
6. b) Three samples below have been obtained from normal populations with equal variances. Test the hypothesis at 5% level that the population means are equal.

[The table value of F at 5% level of significance for V1 = 2 and V2 = 12 is 3.88]

 Solution: – let Ho: there is no significant different in the means of three samples

T=Sum of all observations = 150

Correction Factor = T2/N = 150*2/15=1500

SST(Total sum of the Squares ) = sum of Squares of all observations – T2/N

=(8*2+7*2+12*2+10*2+…..+14*2) – 1500=1600-1500=100

Sum of the Square of error between the columns (samples):

Sum of the square of error between the columns (Samples);

SSE=SST-SSC=100-40=60

Variance between samples:

Variance within the samples:

The degree of freedom = (k-1, n-k) = (2.12)

[K is the number of columns and n is the total number of observations]

ANOVA Table

Answer:- a) Meaning, applications and conditions

The Chi-square test is one of the most commonly used non-parametric tests in statistical  work.  The  Greek  Letter  c2   is  used  to  denote  this  test.  c2   describe the magnitude  of  discrepancy  between  the  observed  and  the expected frequencies.

Applications   Read the rest of this entry →

Answer:- a) Hypothesis testing procedure

There are five steps involved in testing on hypothesis while are as follows:

1. Formulate a Hypothesis: The first step is to set up two hypothesis instead of one in such a way that if one hypothesis is true, the other is false. Alternatively; if one hypothesis is false or rejected then the other is true or accepted.
2. Set up a suitable significance level: After formulating the hypothesis, the next steps is to test its validity at a certain level of significance. The confidence with which a null hypothesis is rejected or accepted depends on the significance level used for the purpose.
3. Select test criterion: The next steps in hypothesis testing in the selection of an appropriate statistical technique as a test criterion. There are many techniques from which one is to be chosen. For example, when the hypothesis partners to a large of more than 30, the Z test implying normal distribution is used for population mean. If the sample is small (n<30) the t test will be more appropriate. The test criteria that are frequently used in hypothesis testing are Z, t, f and x2.

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Answer:- a) Explanation of the approaches to define probability

 There are four approaches to define Probability. They are as follows:

1) Classical / mathematical / priori approach

2) Statistical / relative frequency / empirical / posteriori approach

3) Subjective approach

4) Axiomatic approach

1) Classical / mathematical / priori approach Read the rest of this entry →

Answer;-Meaning of statistics

According to Horace Secrist, Statistics may be defined as “an aggregate of facts affected to a marked extent by multiplicity of causes, numerically expressed, enumerated or estimated according to a reasonable standard of accuracy, collected in a systematic manner for a predetermined purpose and placed in relation to each other”1. This definition is both comprehensive and exhaustive Read the rest of this entry →

Answer: Meaning of SQ3R :

SQ3R technique of reading was developed by Robinson in his book “Effective Study” (1970). SQ3R stands for the initial letters of the five steps ;

1. Survey – Survey refers to a quick glance through the title page, preface and chapter headings of a text. By surveying, you will be able to gauge the main ideas of the text. Besides, the author’s name, date, place of publication and title page can give you an idea of the general subject area. The table of contents, preface or foreword in a book would give you an idea of the themes and how they are organised. A survey of the index or bibliography tells you immediately whether the book contains what you need.

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Answer:- Aspects to be kept in mind during job interview

Once you have gone through the preparation stage, you are ready to face the actual interview. This is the most important stage of the job application process, during which attention should be paid to the following aspects:

• Opening formalities – Since it is important to create a good first impression, the way you greet and introduce yourself is important. Using the name of the interviewer correctly, giving a firm handshake, waiting till you are asked to be seated and sitting with an erect posture are common courtesies that should be observed to project a good image.

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Answer:  The most common type of persuasive letter is a sales letter addressed to customers, persuading them to buy your company’s product. A sales letter is similar to an advertisement and uses the same “AIDA” (Attention, Interest, Desire and Action) format. This means taking the consumers through different mental stages in a particular sequence – first getting their attention, creating interest by highlighting unique features of the product, inducing desire by convincing them that the product is better than others and then motivating them to try the product. Sales letters are used to sell industrial products such as machinery, consumer durable products and other high-value items. Read the rest of this entry →

Answer:  Internal business communication is the exchange of information within a company.

• Superiors
• Peers
• Subordinates
• Employees/Unions
• Shareholders

THE COMMUNICATION INVOLVED WITH THESE INTERNAL STAKEHOLDERS.

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Answer:  Kinesics is the most often studied and important area of non-verbal communication and refers to body movements of any kind. Different body movements can express inner states of emotion. The different body movements are:

• Facial expressions – Facial expressions can convey feelings of surprise, happiness, anger and sadness. If you meet a long lost friend and say “I am very happy to meet you again”, but with a sad facial expression, it conveys the exact opposite meaning.

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Answer:  The elements involved in communication are:

• Sender or encoder – This is the person who transmits a message. For example, a manager writing a letter to a consultant after a meeting or a sales manager making a presentation to the sales team. Here the manager is the sender
• Receiver or decoder – The person who notices and decodes, or attaches some meaning to a message. Decoding may not always be accurate and a wrong meaning may be attached to a message. For example, a friendly joke might be taken as an offence, or feedback given to a subordinate by a superior might be taken in the wrong sense.

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Answer:-

1. a) TOWS matrix – A modern tool for situation analysis

SWOT analysis, i.e., analysis of the company’s Strength, Weaknesses, Opportunities, and Threats, was a popular model. This, however, fails to look at it in a combined way. For example, how does the opportunity of not having a bakery similar to Sambhavi in other districts (an opportunity) combine with Sambhavi’s strength? To service the customers in these districts, you need to have good logistics which Sambhavi does not have (weakness). Combining these, we can say that Sambhavi can give up the opportunity because of the weakness or make up the deficiency and make use of the opportunity. So it can develop the logistic capability or collaborate with another company which has good logistic capability in food and serve the customers from other districts. This is what TOWS matrix does. T stands for Threat, O for opportunity, W for weakness and S for Strength. It starts with T because usually it is the threat that makes us sit back and plan (this is not to say that being reactive is ideal). Read the rest of this entry →

Answer:- Describe the stages of Stress

Stress is the perceived threat to one’s physical or psychological well being. Because of the silent nature of the perceived threat, stress is often called a ‘silent killer’. Read the rest of this entry →

Answer:- Explain the concept of Attitude

Attitudes are also known as “frames of reference.” They provide the background against which facts and events are viewed. It becomes necessary to know the attitudes of members of an organisation because they have to perceive specific aspects like pay, hours of work, promotion, etc. of their work life in the wider context of their generalised attitudes. Attitudes are also known as “frames of reference.” Read the rest of this entry →

Answer: Definition of Personality

Personality can be defined as a dynamic and organised set of characteristics possessed by a person which uniquely influences his/her knowledge, motivations and behaviour in various situations (Ryckman, 2004). According to Pervin, Cervone & John, (2005), personality refers to those characteristics of the person that account for consistent patterns of feelings, thinking and behaving Read the rest of this entry →

( Explain the pre-requisites of an effective control system )

Answer:-  All managers like to have controls because without them their plans would go awry. Let us now study the pre-requisites to have an effective control system. Read the rest of this entry →

Answer:-  14 Principles of management by Henri Fayol

There are fourteen principles of management which Henri Fayol enunciated. This has wide acceptance and let us discuss them in detail.

1. Division of labour

We saw in the case how everyone was doing their own job. For example, playing flute, selling rooms from the front office, massaging feet, etc. When the major tasks and activities of the organisation is divided and carried out by different people in the organisation it is called division of labour.  Read the rest of this entry →

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The brief explanation of the above stages of merger is given below:

Stage 1: Corporate strategy development

Corporate strategy is concerned with the ways of optimizing the portfolios of businesses that a firm currently owns and with how this portfolio can be changed to serve the interests of the corporation’s stake holders. Merger and acquisition can serve the objectives of both corporate and business strategies despite their being the only one of several instruments. Effectiveness of merger and acquisition in achieving these objectives depends on the conceptual and empirical validity of the models upon which the corporate strategy is based. Given an appropriate corporate strategy model, mergers and acquisition is likely to fail to deliver sustainable competitive advantage. Corporate strategy analysis involves has evolved in recent years through several paradigms-industry structure-driven strategy, competition among strategic group, competence or resource based competition etc.

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