BBA303 - QUALITY MANAGEMENT

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ASSIGNMENT

DRIVE	WINTER 2017
PROGRAM	BACHELOR OF BUSINESS ADMINISTRATION (BBA)
SEMESTER	III
SUBJECT CODE & NAME	BBA303 - QUALITY MANAGEMENT
BK ID	B1597
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Question. 1. Discuss Deming’s 14 points for management.

Answer: We know now that quality needs to be built into every level of a company, and become part of everything the organization does. From answering the phone to assembling products and serving the end customer, quality is key to organizational success.

This idea is very much a part of modern management philosophy. But where did this idea originate? Before things like globalization and technological advances became so important, competitive pressures were typically much lower, and companies

Question. 2. How is the McKinsey 7S model used for carrying out strategic planning and implementation?

Answer: McKinsey 7s model was developed in 1980s by McKinsey consultants Tom Peters, Robert Waterman and Julien Philips with a help from Richard Pascale and Anthony G. Athos. Since the introduction, the model has been widely used by academics and practitioners and remains one of the most popular strategic planning tools. It sought to

Question. 3. What is cost of quality? Why is it important to measure? List common costs of poor quality.

Answer: Cost of poor quality (COPQ): The costs associated with providing poor quality products or services. There are four categories: internal failure costs (costs associated with defects found before the customer receives the product or service), external failure costs (costs associated with defects found after the customer receives the product or service), appraisal costs (costs incurred to determine the degree of conformance to quality requirements) and prevention costs (costs incurred to keep failure and appraisal costs to a minimum).

Question. 4. What is meant by Quality Audit? What is its purpose?

Answer: Auditing is the on-site verification activity, such as inspection or examination, of a process or quality system, to ensure compliance to requirements. An audit can apply to an entire organization or might be specific to a function, process, or production step.

As defined in ISO 19011:2011—Guidelines for auditing management systems, an audit is a “systematic, independent and documented

Question. 5. Write short notes on:

a) Recognition and rewards

Answer: In a competitive business climate, more business owners are looking at improvements in quality while reducing costs. Meanwhile, a strong economy has resulted in a tight job market. So while small businesses need to get more from their employees, their employees are looking for more out of them. Employee reward and recognition programs are one method of motivating employees to change work habits and key behaviors to benefit a small business.

REWARD VS. RECOGNITION

b) Suggestion systems

Answer: Suggestion systems are a form of employee-to-management communication that benefit employees as well as employers. They provide a two-way channel of communication between employees and management, with management accepting or rejecting employee suggestions and in some cases commenting on them. Suggestion systems give employees a voice and a role in determining company policies and operating procedures.

Question. 6. Discuss about IMC Ramakrishna Bajaj National Quality Award.

Answer: Started in 1995, the IMC Ramkrishna Bajaj National Quality Award enjoys the stature of being one of India's most prestigious quality awards. The eponymous award symbolizes the values of the man who ardently promoted the importance of quality and ethics in our economic and social development. The award was instituted with the objectives of:

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BBA301 - Legal and Regulatory Framework

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ASSIGNMENT

DRIVE	WINTER 2017
PROGRAM	BACHELOR OF BUSINESS ADMINISTRATION (BBA)
SEMESTER	III
SUBJECT CODE & NAME	BBA301 - Legal and Regulatory Framework
BK ID	B1595
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Question. 1. Describe the Essentials of a Contract in detail

Answer: According to Section 10, “All agreements are contracts if they are made by the free consent of the parties competent to contract, for a lawful consideration and with a lawful object and are not hereby expressly declared to be void.”

The analysis of the provisions of Section 10 shows that a valid contract musthave the following essential elements:

1. Proper Offer and Acceptance: There must be at least two parties­- one making the offer and the other accepting it. Such offer any acceptance must

Question. 2. According to the Sale of Goods Act, what are the Rights and Duties of Buyers?

Answer: DUTIES OF SELLER AND BUYER

It is the duty of the seller to deliver the goods and the buyer to accept and pay for them, in accordance with terms of contract of sale.

Unless otherwise agreed delivery of the goods and payment of price are concurrent conditions; that is to say that seller shall be ready and willing to give possession of the goods to the buyer in exchange of the price and the buyer shall be ready and willing to pay the price in exchange of possession of the goods.

The seller of goods has a duty of giving delivery according to the terms of the contract and according to rules contained in the Sale of Goods Act.

Question. 3. What are the important Features of Partnership?

Answer: The proprietorship form of ownership suffers from certain limitations such as limited resources, limited skill and unlimited liability. Expansion in business requires more capital and managerial skills and also involves more risk. A proprietor finds him unable to fulfill these requirements. This call for more persons come together, with different edges and start business. For example, a person who lacks managerial skills but may have capital.

Another person who is a good manager but may not have capital. When these persons come together, pool their capital and skills and organise a business, it is called partnership. Partnership grows essentially because of the limitations or disadvantages

Question. 4. Describe the structure & objectives of The Central Consumer Protection Council

Answer: The Consumer Protection Act, 1986 sought to provide better protection to the interests of the consumers and for that purpose made provisions for the establishment of Consumer Protection Councils and other authorities for resolving consumers’ disputes. The Consumer Protection Councils would be set up at national and state levels (Section 6 of Consumer Protection Act)

The objects of the Central Consumers Protection

Question. 5. Define Salient Features of Competition Act

Answer: The Competition Act, 2002 was enacted by the Parliament of India and governs Indian competition law. It replaced the archaic The Monopolies and Restrictive Trade Practices Act, 1969. Under this legislation, the Competition Commission of India was established to prevent the activities that have an adverse effect on competition in India. This act extends to whole of India except the State of Jammu and Kashmir.

Question. 6. Discuss salient features of Trade Mark Act, 19990

Answer: The Trade Mark bill 1999 was passed and the bill received the accent of the President of India on the 30th Dec 1999 and became an Act. The Draft Trademark Rules were notified on 18th May, 2001 and approved Rules were notified on 26th February, 2002. The new Act has been brought into force on 15th September 2003 after considerable lapse of time. 

The Salient features of the Trade Marks Act, 1999, are as follows: 

Registration of Trade Mark for Services [Sec. 2(2)(z)]

The new law provides for registration of trade marks for services

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Case Study Project - Elective – Fire and Safety Management

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Case Study Project

Total Marks: 100

Elective – Fire and Safety Management

Question. 1) Maintaining a facility and conducting yourself in accordance with the provisions of the fire code. This is based on the occupants and operators of the building being aware of the applicable regulations and advice. How will you make your building fire safe.

Question. 2) Location of a fire extinguisher-where should it be installed? How will you strategically position fire extinguishers in an area you think is likely a fire hazard area.

Answer: Fire safety refers to precautions that are taken to prevent or reduce the likelihood of a fire that may result in death, injury, or property damage, alert those in a structure to the presence of a fire in the event one occurs, better enable those threatened by a fire to survive, or to reduce the damage caused by a fire. Fire safety measures include those that are planned during the construction of a

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Case Study Project - Shared Decision Making

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Case Study Project

Total Marks: 100

Shared Decision Making

Question. 1. The school has just won the state football championship. The community, school staff and students are high with success. But it is important to keep in mind that the parents and teachers generally respect academic pursuits equally if not more with athletic ones.

The school has the right balance between curricular and extracurricular activities but academic accomplishment is clearly valued by the school and community. What had been an occasional request from the coaching staff to excuse students from their last period has precipitated some conflict among the faculty especially the science and math teachers.

Clearly the principal has the authority to establish a policy that can end the practice of student athletes leaving class early. But the principal has always involved the teachers in important decision making and they have responded well. Develop a strategy of action to deal with the situation. Is this matter for shared decision making or is quick unilateral action most appropriate? Why?

Answer: Today’s school leaders are challenged to ensure their schools are effective—providing a quality education for every student—but they must do that with fewer resources than in the past. They need an action plan that ensures success for all students.

In the past 15 years, research studies have identified the characteristics of effective schools. Those characteristics that seem to show up in all the findings include high expectations for students, a safe and orderly school climate, frequent assessment of student progress, parental involvement, collaboration among faculty and staff members, and focused and sustained professional development.

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Case Study Project - Elective – Training & Development

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Case Study Project

Total Marks: 100

Elective – Training & Development

Question. Attracting the right candidates to apply for a job can be an expensive process. It is even more expensive when done badly because when unsuitable candidates apply for a job, then the post may need to be re-advertised. Write a detailed case study to overcome the problem.

Answer: Some large blue chip recruiters spend thousands of pounds on campus marketing rights, sponsorships, access to students' email addresses and personal information, as well as nationwide on-campus promotional tours. An assortment of businesses are aggressively seeking to take advantage of students' yet-to-be-formed employer brand loyalties. They are seeking to build brand preference among this valuable market in order to capture talented individuals at an early stage.

While these recruiters have been successful at creating innovative methods of student outreach, directly onto university campuses and getting their message out, they are unable to grasp the unique culture of students - what students value, their attitudes, needs and behaviours.

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MS - 11 - Strategic Management

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ASSIGNMENT

Course Code                                                 :                            MS - 11

Course Title                                                  :                            Strategic Management

Assignment Code                                        :                            MS-11/TMA/SEM - II/2018

Coverage                                                       :                            All Blocks

Note: Attempt all the questions and submit this assignment on or before 31st October, 2018 to the coordinator of your study centre.

Question. 1. What is a ‘mission statement’? Explain why is it necessary to formulate a mission statement initially in the process of formulating a strategy?

Answer: “What is our business and what are we trying to accomplish on behalf of our customers?” (Direction, umbrella statement, purpose statement, scope of operation)

Purpose Statement

What a company is currently seeking to do for its customers is often termed the company’s mission. It answers the question “What is the company’s reason for existing?” A mission statement is a statement of the company’s purpose. A mission

Question. 2. Write a brief case study showing the strategic development and its current strategic position of the company of your choice. Use the published information about the company.

Answer: Strategic Positioning of a firm is one of the hottest concepts in all industries. Driven by pressures such as increased competition, the need to improve quality products and services, the need for innovation firms are increasingly investing on the positioning strategies with the aim of developing competitive advantage over their competitors. This 21st century has seen more services and products increasingly becoming competitive and similar in terms of product features, capabilities and prices. This has brought about

Question. 3. How is Cost Leadership helpful in determining the success of a business organization? Explain with the help of an example.

Answer: It is tempting to think of cost leaders as companies that sell inferior, poor-quality goods and services for rock-bottom prices. The Yugo, for example, was an extremely unreliable car that was made in Eastern Europe and sold in the United States for about $4,000 in the 1980s. Despite its attractive price tag, the Yugo was a dismal failure because the car was so poorly made that drivers simply could not depend on the car for transportation. Yugo exited North America in the early 1990s and closed down entirely in 2008.

Question. 4. Choose two companies from a specific sector which are following diversification strategies. Compare and contrast the diversification strategies followed by these companies.

Answer: Diversification is a form of corporate strategy to increase profitability of a company through greater sales volume obtained from new products and new markets. It occurs either at the business unit level or at the corporate level. It is a risk management technique that mixes a wide variety of investments within a portfolio. It attempts to smooth out unmethodical risk events in a group so that the positive performance of some investments will

Question. 5. Identify a company which is on the verge of closing. Analyze the reasons for the decline of the company.

Answer: While the likes of pie franchise Pie Face and jewellery chain Bevilles have come out the other side, these examples are in the minority.

According to Cliff Sanderson, chief executive of corporate recovery firm Dissolve, voluntary administration will only save around 10% of

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MS-9 - Managerial Economics

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ASSIGNMENT

Course Code                                                 :                                          MS-9

Course Title                                                  :                                          Managerial Economics

Assignment Code                                        :                                          MS-9/TMA/SEM-II/2018

Coverage                                                       :                                          All Blocks

Note: Attempt all the questions and submit this assignment on or before 31st October, 2018 to the coordinator of your study centre.

Question. 1. What is the scope of Managerial Economics? How does the study of Managerial Economics involves the analysis of certain major subjects? Explain citing examples.

Answer: A close interrelationship between management and economics had led to the development of managerial economics. Economic analysis is required for various concepts such as demand, profit, cost, and competition. In this way, managerial economics is considered as economics applied to “problems of choice’’ or alternatives and allocation

Question. 2. What is the Law of Demand? Explain increase and decrease of demand with the help of any example of your choice.

Answer: The law of demand states that quantity purchased varies inversely with price. In other words, the higher the price, the lower the quantity demanded. The reason for this phenomenon is that consumers' opportunity cost increases, so they must give something else up or switch to a substitute product.

The Law of Demand in Practice

The "curve" above is simplified as a straight line, but in fact

Question. 3. What is Short- Run Cost Functions? Explain how Total Cost (TC), Total Fixed Cost (TFC) and Total Variable Cost (TVC) are calculated? Discuss with the help of a table and graph.

Answer: Conceptually, in the short run, the quantity of at least one input is fixed and the quantities of the other inputs can be varied.

In the short-run period, factors, such as land and machinery, remain the same.

On the other hand, factors, such as labor and

Question. 4. Differentiate between First Degree and Second Degree Price Discrimination. Why is Second Degree Price Discrimination described as multipart pricing?

Answer: Price discrimination refers to the charging of different prices by the monopolist for the same product.

The difference in the product may be on the basis of brand, wrapper etc. This policy of the monopolist is called price discrimination.

Types of Discriminating Monopoly:

Price discrimination is of following three types:

Question. 5. Examine the kink demand curve for oligopolists? Explain the reasons for price rigidity.

Answer: There is no single theory of oligopoly. The two that are most frequently discussed, however, are the kinked‐demand theory and the cartel theory. The kinked‐demand theory is illustrated in Figure and applies to oligopolistic markets where each firm sells a differentiated product. According to the kinked‐demand theory, each firm will face two market demand curves for its product. At high prices, the firm faces the relatively elastic market demand curve, labeled MD1 in Figure.

Question. 6. Write short notes on any two of the following:-

(a) Regression Equation

Answer: Linear regression attempts to model the relationship between two variables by fitting a linear equation to observed data. One variable is considered to be an explanatory variable, and the other is considered to be a dependent variable. For example, a modeler might want to relate the weights of individuals to their heights using a linear regression model.

Before attempting to fit a linear model to observed data, a modeler should first determine whether or not there is a relationship between the variables of interest. This does not necessarily imply that one variable causes the other (for example, higher SAT scores do not cause higher college grades), but

(b) Exponential Smoothing

Answer: This is a very popular scheme to produce a smoothed Time Series. Whereas in Single Moving Averages the past observations are weighted equally, Exponential Smoothing assigns exponentially decreasing weights as the

(c) Functional Forms of Cost Functions

Answer: The principles of production theory discussed in Unit 7 are fundamental in understanding economics and provide an important conceptual framework for analysing managerial problems. However, short run output decisions and long run planning often require more than just this conceptual framework. That is, quantitative

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MS-04 - Accounting and Finance for Managers

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ASSIGNMENT

Course Code                                   :                            MS-04

Course Title                                    :                            Accounting and Finance for Managers

Assignment Code                          :                            MS-04/TMA/SEM-I/2018

Coverage                                         :                            All Blocks

Note : Attempt all the questions and submit this assignment on or before 30th April, 2018 to the coordinator of your study center.

Question. 1. How is ‘Financial Accounting’ different form ‘Management Accounting’? Discuss the role and activities of an Accountant.

Answer: Financial and management accounting are both important tools for a business, but serve different purposes. A business uses accounting to determine operational plans in the future, to review past performance and to check current business functions. Management and financial accounting have different audiences, as investors are not usually involved in the day-to-day operations of the business but are concerned about their investment, whereas managers need information quickly to make daily business decisions

Question. 2. The Balance Sheets of XYZ Ltd as on 31st December, 2016 and 2017 are as given below:

Liabilities	2016	2017	Assets	2016	2017
Share Capital	2,00,000	2,00,000	Goodwill	24,000	24,000
General Reserve	28,000	36,000	Buildings	80,000	72,000
Profit and Loss Account	32,000	26,000	Plant	74,000	72,000
Creditors	16,000	10,800	Investments	20,000	22,000
Bills Payable	2,400	1,600	Stock	60,000	46,800
Provision for Taxation	32,000	36,000	Bills Receivable	4,000	6,400
Provision for doubtful debts	800	1,200	Debtors	36,000	38,000
			Cash and bank balance	13,200	30,400
	3,11,200	3,11,600		3,11,200	3,11,600

Additional Information:-

(i) Depreciation provided on plant was 8,000 and on building was Rs. 8,000.

(ii) Provision for taxation made during the year is Rs. 38,000.

(iii) Interim dividend paid during the year is Rs. 16,000.

From the above information, you are required to prepare Schedule of changes in Working Capital and Funds Flow Statement.

Answer: A Balance Sheet is a statement of the financial position of a business which states the assets, liabilities, and owners' equity at a particular point in time. In other words, the balance sheet illustrates your business's net worth.

Question. 3. What do you understand by CVP Analysis. Explain the effect of Price and Volume on the Net Profit, with the help of a suitable illustration.

Answer: Cost-volume-profit (CVP) analysis is used to determine how changes in costs and volume affect a company's operating income and net income. In performing this analysis, there are several assumptions made, including:

·       Sales price per unit is constant.

·      Variable costs per unit are constant.

·       

Question. 4. The Management of ABC Ltd. is considering a proposal to purchase an improved model of a machine which gives increased output. Its existing machine which has been in operation for 2 years has current market value of Rs. 1,00,000, its remaining estimated useful life is 10 years, with no salvage value at the end.

The relevant particulars are as follows:

	Existing Machine	New Machine
Purchase price	Rs.2,40,000	Rs.4,00,000
Estimated life	12 years	10 years
Salvage value	-	-
Annual Operating hours	2,000	2,000
Selling price per unit	Rs.10	Rs.10
Output per hour	15 units	20 units
Material cost per unit	Rs.2	Rs.2
Labour cost per unit	20	40
Consumable stores per year	2,000	5,000
Repairs and Maintenance per year	9,000	6,000
Working Capital	25,000	40,000

The company follows the straight-line method of depreciation and is subject to 50% tax. Should the existing machine be replaced? Assume that the company’s required rate of return is 15% and that the loss on sale of Assets is tax deductible.

Answer: There are two possible treatments about the provision for taxation:

1. Provision for taxation can be treated as a current liability and it will decrease the working capital in the schedule of changes in working capital. However, payment of tax does not affect working capital because it involves both current asset and current liability account, i.e., payment decreases cash or bank balance on the one hand and decreases the current liability (tax provision) by the equivalent amount on the other hand.

Question. 5. As a Finance Manager how would you determine the Optimal Cash balance that would be required by your Organisation? What measures you would take to ensure the smooth and efficient Management of Cashflows in the Orgnisation?

Answer: Business analysts report that poor management is the main reason for business failure. Poor cash management is probably the most frequent stumbling block for entrepreneurs. Understanding the basic concepts of cash flow will help you plan for the unforeseen eventualities that nearly every business faces. Below, you will find useful information regarding the importance of cash management for your small business.

Cash vs. Cash Flow

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