PROGRAM - MBA -
SEMESTER II
SUBJECT CODE & NAME MB 0044 - PRODUCTION AND OPERATION MANAGEMENT
1. People's productivity
key to Indian
manufacturing
competitiveness: Boston
Consulting Group
Namrata Singh, TNN | Mar 14, 2013, 09.34PM IST
MUMBAI: People productivity is the key to Indian manufacturing
competitiveness, says a report by the Boston Consulting Group (BCG).
In most global people productivity surveys, not only does people
productivity of Indian manufacturing sector lags developed nations such as US
and Japan, but also lags in most manufacturing sectors to China. While earlier,
many explained this to differences in technology, level of automation, etc.,
the report suggests such differences are not only rapidly shrinking,
but they do
not fully explain
the significant gaps
in productivity that exists.
Skill gap and
engagement gap are
the two critical
factors that explain
lower people productivity. Under
gap in skill, Indian manufacturing sector faces significant challenges in attracting
quality manpower that
is 'right' skilled
prior to entering
the workforce. In addition, continuous skill development
efforts are required for the work force, throughout their careers, as processes
and technologies evolve.
On the other
hand, many manufacturing
studies have indicated
a direct correlation between workforce
engagement and productivity.
For most Indian
manufacturing companies, the level of engagement and alignment with
corporate vision, amongst their union work force and contract labour is
extremely low, when compared to their global peers.
"An improvement in
people productivity can
be beneficial across
all levels of an
organization. At the
employee level, it
results in higher
wages and enhanced
job satisfaction. At company
level, the direct
correlation between profits
and resource productivity has
been established through research multiple times. And at industry level,
increased people productivity leads to improved skills and better working
environment — thus paving the way for higher investments and faster economic
growth. Therefore, it is critical for the Indian manufacturing sector to work
toward enhancing people productivity to achieve the goals it has set for
itself," the report says.
The subject gains
importance in the
backdrop of a
slowdown in western
economic countries and China,
as well as
cost increases in
China. Indian manufacturing
sector stands at the cusp of a tremendous opportunity.
After reading the case study answer the following questions:
a. What do you think are the
reasons for low people productivity in India?
There are two reasons
which I think for low people productivity in India:-
1. Skill
gap
2. Engagement gap
1. Skill gap
Under gap in skill, Indian manufacturing sector faces significant
challenges in attracting quality
manpower that is
'right' skilled prior
to entering the
workforce. In addition,
continuous skill development efforts are required for the work force,
throughout their careers, as processes and technologies evolve.
2. Engagement gap
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2. List the elements of
operations strategy. Explain any TWO elements of operations strategy.
Elements or Components of Operations Strategy
The six elements of
operations strategy are:
1) Designing of the production system
2) Facilities for production and services
3) Product or service design and development
4) Technology selection, development, and
process development
5) Allocation of resources
6) Focus on facilities planning
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3. What are the basic capacity
(production) options a company can choose?
A company can choose from the following basic capacity (production)
options:
a) Changing inventory levels: Under this option
the inventory is increased during periods of low demand to meet high demand in
future periods. If this strategy is
selected, costs associated
with storage, insurance, handling, obsolescence, pilferage, and capital invested increase. These costs typically
range from 15 percent
to 40 percent
of the value
of an item annually.
On the other
hand, when the
firm enters a
period of increasing demand, shortages
can result in sales loss due to inability to produce quickly
by assembling all
the resources resulting
in poorer customer service.
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4. Write short notes on:
a. Qualitative methods of
forecasting
b. Taguchi’s quality loss function
a. Qualitative methods of
forecasting
Qualitative Methods of
Forecasting
The different qualitative
methods of forecasting are as follows:
·
Market surveys
·
Nominal group
testing
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5. Describe the process of value analysis.
Process of Value Analysis
The process of value
analysis can be divided into the following four steps:
1. Data gathering
2. Analysis and valuation of functions
3. Idea generation and evaluation of substitutes
4. Implementation and regulation
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6. Write short notes on
a. Tools for implementation of
operations
b. Fixed position layout
6. a. Implementation of operations
Implementation is the process of executing the planned
operations. When planning and controlling
functions are put
together, we call
it as Implementation of
Operations.
The planning
is the process
of estimating, routing,
and scheduling. The controlling functions are conducted while
the manufacturing is going on, like dispatching
and expediting.
·
Estimating –
Estimating gives the
quantities to be
made at each workstation depending on
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PROGRAM - MBA -
SEMESTER II
SUBJECT CODE & NAME - MB0045 - FINANCIAL
MANAGEMENT
1. Explain the liquidity decisions
and its important elements. Write complete information on dividend decisions.
Liquidity decisions
The liquidity
decision is concerned
with the management
of the current assets, which is a pre-requisite to
long-term success of any business firm. This
is also called
as working capital
decision. The main
objective of the current
assets management is
the trade-off between
profitability and liquidity, and
there is a conflict between these two concepts. If a firm does not have
adequate working capital, it may become illiquid and consequently fail to meet
its current obligations thus inviting the risk of bankruptcy. On the contrary,
if the current assets are too enormous, the profitability is adversely
affected. Hence, the major objective of
the liquidity decision is to ensure
a trade-off between
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2. Explain about the doubling period and present value. Solve the below
given problem:
Under the ABC
Bank’s Cash Multiplier
Scheme, deposits can
be made for
periods ranging from 3
months to 5
years and for
every quarter, interest
is added to the
principal. The applicable rate of interest is 9% for deposits less than 23
months and 10% for periods more than 24 months. What will be the amount of Rs.
1000 after 2 years?
Doubling period
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3. Write short notes on:
a) Operating Leverage
b) Financial leverage
c) Combined leverage
Operating Leverage
Operating leverage
arises due to the presence of fixed operating expenses in the
firm’s income flows.
It has a
close relationship to
business risk. Operating leverage
affects business risk
factors, which can
be viewed as the uncertainty inherent in estimates of
future operating income.
The operating leverage
takes place when a change in revenue produces a greater change
in Earnings Before
Interest and Taxes
(EBIT). It indicates the
impact of changes
in sales on
operating income. A
firm with a high
operating leverage has a relatively greater effect on EBIT for small changes
in sales. A
small rise in
sales may enhance
profits considerably, while
a small decline in sales may reduce and even wipe out the EBIT.
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4. Explain the factors affecting Capital Structure. Solve the below given
problem:
Given below are two firms, A and B, which are identical in all aspects
except the degree of leverage employed by them. What is the average cost of
capital of both firms?
|
|
Firm
A
|
Firm
B
|
|
Net operating income EBIT
|
Rs.1,00,000
|
Rs.1,00,000
|
|
Interest on debentures I
|
Nil
|
Rs. 25,000
|
|
Equity earnings E
|
Rs.1,00,000
|
Rs. 75,000
|
|
Cost of equity Ke
|
15%
|
15%
|
|
Cost of debentures Kd
|
10%
|
10%
|
|
Market value of equity S = E/Ke
|
Rs.6,66,667
|
Rs.5,00,000
|
|
Market value of debt B
|
Nil
|
Rs.2,50,000
|
|
Total value of firm V
|
Rs.6,66,667
|
Rs.7,50,000
|
Factors affecting Capital Structure as follows: -
The major
factor affecting the capital structure is leverage. There
are also a few other factors affecting them. All the
factors are explained briefly here.
Leverage
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Solution for the problem
Solution:
Average cost of capital of firm A is:
10% * 0/Rs. 666667 +
15% * 666667/666667 = 0 + 15 = 15%
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5. Explain all the sources of risk
in capital budgeting with examples.
Solve the below given problem:
An investment will have an initial outlay of Rs 100,000. It is expected
to generate cash inflows. Cash inflow for four years.
|
Year
|
Cash inflow
|
|
1
|
40000
|
|
2
|
50000
|
|
3
|
15000
|
|
4
|
30000
|
If the risk free rate and the risk premium is 10%,
a) Compute the NPV using the
risk free rate
b) Compute NPV using
risk-adjusted discount rate
Sources of risk
The five different
sources of risk are:
·
Project-specific
risk
·
Competitive or
competition risk
·
Industry-specific
risk
·
International risk
·
Market risk
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Solution for the problem with interpretation
a) NPV can be computed using
risk free rate. Below table shows NPV calculation using the risk free rate.
PV Using Risk Free Rate
|
Year
|
Cash
flows
(inflows) Rs. |
PV
factor
at 10% |
PV of
cash
flows (inflows) |
|
1
|
40000
|
0.909
|
36,360
|
|
2
|
50000
|
0.826
|
41,300
|
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6. Explain the objectives of Cash
Management. Write about the Baumol model with their assumptions.
Objectives of Cash Management
The major objectives of
cash management in a firm are:
·
Meeting payments
schedule
·
Minimising funds
held in the form of cash balances
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PROGRAM - MBA -
SEMESTER 2
SUBJECT CODE & NAME MB0046- Marketing Management
1. Explain the classification of market based on nature of Competition
and area.
Definition of market
Earlier, a
market was defined
as a place
where buyers, sellers,
resellers, and
intermediaries met for
exchange of goods
and services. But
with the changing landscape,
modern day marketing has witnessed drastic changes. Globalisation and
technological advances like the Internet
and e-commerce
empowers the marketer
to overcome geographical boundaries. The market has become
a virtual world
and marketing comes
off in space
than in a geographical place. Thus, market may be
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2. A brand is a composite set of beliefs and associations in the mind of
consumers. In brand development, as a part of
branding strategy decision,
the brand manager
can decide to
create new brand elements for the new products, apply some of the
existing brand elements to the new product, or use a combination of existing
and new brand elements to the existing and new products. Explain the different
branding strategies used by the companies for their range of products.
Definition of Brand:
A traditional
definition of brand
stands as a
name, word, mark,
symbol, device, or a combination thereof, used to identify some product
or service of one seller and to differentiate
them from those
of the competitors.
The definition clearly focuses
on the function
of a brand,
that is, to
identify, irrespective of the specific means employed for the identif
ication. A modern definition talks about the brand as a vehicle for delivering
a certain value to the consumers. Hence, a brand is a mental patent and set of
associations that delivers a set of functional and emotional value to the
consumer in a unique way as compared to others in the business.
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3. Describe the international market entry strategies in brief.
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. In direct exporting, the
manufacturers decide to export themselves. Thus, the manufacturers have to
decide, whether they will go directly for exports or take the help of merchant
exporters who are very often recognised as export houses, trading houses, etc.
Some government trading organisations
like State Trading Corporation, MMTC, and National Small Industries
Corporations also act as trading houses.
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4. Personal selling focuses in on ‘personal’ or ‘one to one’ selling. It
involves an individual salesman or a sales team establishing and building a
profitable relationship with customers over a period of time through a series
of steps. Explain the steps in the personal selling process which helps in the
successful sales.
Personal Selling
Personal selling is an
activity which involves a face-to-face interaction with the customers
wherein there is
a quick response
and personal confrontation. This
allows for more
specific adjustment of
the message. Here, the
communication message can be adjusted as per the customer’s specific needs or
wants. It offers you the opportunity to develop long-term familiarity and
relationship.
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5. Describe the stages in consumer decision making process.
Explanation of the stages in consumer decision :
1. Problem recognition
A buying
process starts when a consumer
recognises that there
is a substantial discrepancy
between his/her current
state of satisfaction
and expectations in a consumption situation.
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6. Do you think the argument of some theorists that the traditional Ps
are not enough for services marketing? Give suitable examples to prove your
point.
Services Marketing
Service sector
is one of the key
contributing factors for the
growth of our economy and
civilisation. Though marketing
literature is dominated
by manufacturing and product-centric business
practices, service marketing constitutes a
strategic area, which
has propelled growth
and success for many organisations. Pure services and
products are hypothetical extremes as
every product today
is associated with
some level of
service.
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SEMESTER II
SUBJECT CODE & NAME - MB0047 – MANAGEMENT
INFORMATION SYSTEM
1. In the current e-world any
organisation’s massive operations are managed by various types of information
systems that help them to achieve their goals of servicing their clients. This
can be done by the growth of modern organization. Discuss some of the essential
features of modern organisation.
Essential Features of Modern Organisations
1. IT-Enabled
organisation
2. Networked
organisation
3. Dispersed
organisation
4. Knowledge
organization
1. IT-Enabled organisation
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2. Marketing managers are keener
to look for a least cost route that also allow a sales person to meet all his
customers. Identifying a least cost route with this features is slightly
complicated. Therefore, managers depend on decision support tools to find the
most cost effective routes to
cover the market. The travelling salesman problem is one of such tool.
Describe the tool with a diagram.
The travelling salesman problem:
Below figure depicts
the travelling salesman problem which is an example of an operational decision.
The salesman has to cover all the cities in one tour at the lowest possible
cost.
Fig :
Travelling salesman problem (the figure shows the distances between
seven cities in India)
The salesman can start
from Bangalore and then follow any sequence, such as Chennai–Mumbai–Bhopal–New
Delhi–Kolkata–Ranchi or Kolkata–Ranchi–New Delhi–Mumbai–Bhopal–Chennai. If all
the combinations of cities are counted, there are 720 ways in which the
salesman can cover all the cities after starting from Bangalore. Each of these
is called a tour. For the lowest cost tour the salesman would have to calculate
the distance covered for each possible tour and take the shortest one.
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3. There are many examples of
digital goods. Companies such as Amazon.com are selling digital versions of
books over their site. These digital books can be read on special readers that
display the pages on a screen.
a. List the important properties
of information goods
b. Explain positive feedback with
diagrams
A a. Important Properties of Information Goods
Many argue that the
life of the physical, paper-based book is about to decline with the advent of
the digital book readers. Book buyers can now buy books directly over the
Internet and have them instantly available on their digital readers. The
digital readers have massive capacities; one such device can store thousands of
books. Besides, some of them provide access through wireless networks to a huge
library of free and paid books that the readers can access instantly.
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4. Decision support systems (DSS)
are used extensively across organisations to assist managers with making
decisions. Decision making by managers involves the phases of intelligence,
design, and choice, and DSS help mainly with the choice part as they support
structured and unstructured types of decisions.
a. What is it that managers do
when they make decisions?
b. Explain the different types of
decisions
Decision Making Process:
Herbert Simon, the
Nobel Prize winning researcher, showed that humans went through three essential
stages in the act of problem solving. He called these the Intelligence, Design,
and Choice stages. Decision making can also be considered as a type of problem
solving. When making a decision, humans tend to follow Simon’s
Intelligence-Design-Choice Model. Below figure depicts this model. In the first
stage, that of intelligence, they collect information about the issue from the
environment and the surrounding context. For example, if a person is faced with
the problem of travelling from Bangalore to New Delhi, a distance of about 2000
km, then in the intelligence stage the person will seek all possible
information of how to travel – by air, by train, by bus, or by a personal
vehicle. This inquiry is open-ended and will involve searching for
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5. What is crowdsourcing? How does
the site Galaxy Zoo manage crowdsourcing?
Crowdsourcing
The phrase
crowdsourcing is often used to describe projects that encourage collaboration.
The term refers to the idea that a ‘crowd’ of people, not necessarily known to
each other, participate in working on a project.
Fig. :
Image of galaxy classified on Galaxy Zoo. The grey object in the bottom
is an unclassified element that prompted further research
Many critics have
argued that crowdsourcing works for some kinds of tasks, but for others it is
not effective. For instance, it was initially argued that the quality of
articles on Wikipedia was not as good as that available in a traditional
encyclopaedia like Encyclopaedia Britannica. However, this turned out to be
only partially true. In a comparison conducted by the Nature magazine, a
well-respected science journal from UK, some experts were asked to rate 42
articles on scientific topics from both Wikipedia and Encyclopaedia Britannica.
The results were that the
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6. Data and information relating
to individuals could be of sensitive nature. Give some examples of such kind of
data
Data and information
relating to individuals could be of sensitive nature. Some examples of such
kind of data are as follows:
1. Employees, who work extensively with
computers, log in every morning when they come to work and log out in the
evening when they leave. During the working day, every time they leave
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PROGRAM - MBA
SEMESTER II
SUBJECT CODE & NAME - MB0048 - OPERATIONS RESEARCH
1. Explain the
types of Operations
Research Models. Briefly
explain the phases
of Operations Research.
Types of Operations Research Models
A model is an idealised
representation or abstraction of a real-life system.
The objective of a
model is to identify significant factors that affect the reallife
system and their
interrelationships. A model
aids the decision-making process as it
provides a simplified
description of complexities
and uncertainties of a
problem in a
logical structure. The
most significant advantage of a
model is that it does not interfere with the real-life system.
A broad classification of OR models
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2. a. Explain the graphical method
of solving Linear Programming Problem.
Graphical Methods to Solve LPP
While obtaining the
optimal solution to an LPP by the graphical method, the statement of the
following theorems of linear programming is used:
·
The collection of
all feasible solutions to an LPP constitutes a convex set whose extreme
points correspond to the basic feasible solutions.
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2. b. A paper
mill produces two
grades of paper
viz., X and
Y. Because of
raw material restrictions, it
cannot produce more than 400 tons of
grade X paper and 300 tons of grade Y paper in a week. There are 160 production
hours in a week. It requires 0.20 and 0.40 hours to produce a ton of grade X
and Y papers. The mill earns a profit of Rs. 200 and Rs. 500 per ton of grade X
and Y paper respectively. Formulate this as a Linear Programming Problem.
Answer:
Let x1 and x2 be the
quantity of two product x and y produced per week.
So they can produce
x1+x2<=400+300 due to restrictions of raw material.
Now there is another
restriction that is of time. so
0.20 x1+0.40x2<=160
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3 a. Explain how to solve the
degeneracy in transportation problems.
Degeneracy in transportation problem: A basic
solution to an
m-origin, n destination
transportation problem can have at the most m+n-1 positive basic
variables (non-zero), otherwise the basic
solution degenerates. It
follows that whenever
the number of
basic cells is less than m + n – 1, the transportation problem is a
degenerate one.
The degeneracy can develop in two
ways:
Case 1 - The degeneracy develops while determining an
initial assignment via any one of the initial assignment methods discussed
earlier. To resolve degeneracy,
you must augment
the positive variables
by as many
zero-valued variables as
is necessary to
complete the required m + n – 1 basic variable. These
zero-valued variables are selected in such a manner that
the resulting m + n – 1
variable constitutes a
basic solution. The selected
zero valued variables
are designated by
allocating an extremely small
positive value ε to each one of them. The cells containing these extremely
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3. b. Explain the procedure of MODI method of finding solution through
optimality test.
MODI METHOD: - A feasible
solution has to be found always. Rather
than determining a first approximation
by a direct application of the simplex method, it is more efficient to work
with the transportation table. The transportation algorithm is the simplex
method specialised to the format of table involving the following steps:
i) Finding an initial basic feasible solution
ii) Testing the solution for optimality
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4. a. Explain the steps involved
in Hungarian method of solving Assignment problems.
Hungarian Method Algorithm: Hungarian method algorithm is based on
the concept of opportunity cost and is
more efficient in solving assignment problems.
The following steps are adopted
to solve an AP using the Hungarian method algorithm.
Step 1: Prepare row ruled matrix
by selecting the minimum values for each
row and subtract it from the other elements of the row.
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4. b. What do you mean by unbalanced assignment problem? How do you
overcome it?
Unbalanced AP
Unbalanced assignment
problem is an
assignment where the
number of rows is not equal to
the number of columns and vice versa. For example, the number
of machines may
be more than
the number of
jobs or thenumber
of jobs may
be more than
the number of
machines. In such a
situation, you have to introduce dummy rows or
columns in the matrix. The dummy
rows or columns
will contain all
cost elements as
zero. This balances the problem
and then you can use Hungarian
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5. a. Write a short note on Monte
Carlo Simulation.
Explanation of Monte Carlo Simulation method: The Monte-Carlo
method is a
simulation technique in
which statistical distribution
functions are created by using a series of random numbers. This approach has
the ability to
develop many months
or years of
data in a matter of few minutes on a digital
computer.
The method
is generally used
to solve the
problems that cannot
be adequately represented by
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5. b. A Company produces 150 cars. But the production rate varies with
the distribution.
At present the track will hold 150
cars. Using the following random numbers determine the average number of cars
waiting for shipment in the company
and average number of empty space in the truck. Random Numbers 82, 54, 50, 96, 85, 34, 30, 02, 64, 47.
Solution:
Below Table depicts the production
rate and probability.
Production Rate and Probability
|
Production
rate |
Probability
|
Cumulative
Probability |
Random
No.
Assigned |
|
147
|
0.05
|
0.05
|
00 –
04
|
|
148
|
0.1
|
0.15
|
05 -
14
|
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Below Table depicts the simulation
worksheet.
6 a. Explain the dominance
principle in game theory.
Dominance principle in game
theory
In a
rectangular game, the
pay-off matrix of player A
is pay-off in one
specific row (row rth ) exceeding the
corresponding pay-off in
another specific row ( row sth)
. This
means that whatever course
of action is adopted by player B, for A, the course of
action Ar yields greater gains than the
course of action As. Therefore, Ar is a
better strategy than As irrespective of B’s
strategy. Hence, you can say that Ar dominates As .
Alternatively, if
each pay-off in a specific column
(pth column) is less than the
corresponding pay-off in another specific column (qth column) , it means strategy Bp offers minor loss than strategy Bq irrespective of A’s strategy. Hence, you can say that Bp
dominates Bq . Therefore, you can say that:
a) In the
pay-off
matrix, if each
pay-off in row rth is greater
than (or equal to) the corresponding pay-off in the row sth , Ar
dominates As .
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PROGRAM - MBA -
SEMESTER II
SUBJECT CODE & NAME MB 0049 - PROJECT MANAGEMENT
1. Describe the CPM model.
The main focus of CPM and how is it different from PERT :
For projects considered
uncertain, the PERT model was developed and for projects which are
comparatively risk-free the CPM model was developed. Both the approaches start
with the development of the network and a focal point on
the critical path.
Tthe PERT approach
is 'probabilistic' while
the CPM approach is 'deterministic'. This does not, however, mean that
in CPM analysis we work with
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2. Write short notes on:
i) The Shewhart Cycle
ii) Project procurement process
iii) Role of Risk Management in
Overall Project Management
iv) Design of PMIS(Project
Management Information System)
i) The Shewhart Cycle
The Shewhart Cycle
PDCA (plan–do–check–act) is
an iterative four-step
management method used by the
companies to control and continually improve their processes and products.
PDCA is also
referred to as the Deming
circle/cycle/wheel, Shewhart
cycle, control circle/cycle,
or plan–do– study–act
(PDSA).
Below figure depicts
the Shewhart cycle.
Fig. : Shewhart Cycle
These steps in detail
as follows:
(i) Plan:
Establish the objectives and processes essential to deliver results
in agreement with
the
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3. As an investor, how will you
choose the projects to invest in? List the cash flow techniques you will use.
A project
should earn sufficient
return on the investment. The very
idea of promoting
a project by an
entrepreneur is to
earn attractive returns
on investment on the
project. Projects sponsored/undertaken by the government may
take into account social cost benefits
of the proposed
project and in such
cases, financial return
alone need not
be the criterion.
But for such government projects,
all other projects
have the prime
motive of getting maximum return on investment.
If there are many
alternative projects, all of which, at first sight, appear to be more or
less equal in
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4. Write a note on Earned Value
Method (EVM).
The Earned Value Method (EVM) is a useful tool that allows the
calculations of cost and
schedule performance measures
including cost variance, schedule variance,
cost and time
over-runs for a
project. EVM uses
the following parameters to calculate these measures:
• Budgeted Cost of Work Schedule
(BCWS): This is the budgeted cost of
work scheduled up to status date and calculated as:
BCWS = ∑
(Budgeted cost of work/day × Scheduled days of work up to status date
for each activity)
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5. Discuss the various methods of conflict resolution.
Generally, there are five methods of conflict resolution. They are:
·
Forcing
·
Smoothing
·
Compromise
·
Problem solving
·
Withdrawal
These five
methods have different
results; some temporary
and others permanent. They also
have different effects
on the attitude
of the conflicting parties.
1. Forcing : One way of
resolving a conflict
is when one
party pressurises the other party to agree.
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6. Answer the following questions:
a. What are the advantages of
using PM software package?
b. What are the types of project
performance evaluation techniques?
a. Advantages of Using
Project Management Software
The following
are the key
advantages of using
project management software:
• Speed, effort, and accuracy: For a large project, manually carrying out
activities like drawing
a network, carrying
out time analysis,
reporting project progress, generation
of various types
of reports, updating network, and
maintaining records is
quite time and
effort consuming.
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