Assignment no # 02
“Suppose you are the assistant customer services manager of a home appliances company. Your product model, details and designs are available on your company’s website. Due to the increasing importance of “ Electronic CRM” , your country services manager assign you a task of preparing a proposal regarding how can our company provide competitive customer services trough company’s website. He wants to use company’s website as a tool of developing good customer relationship.
You are required to give five best suggestions by which your company can offer best customer services through company’s website.”
Solution:
You can provide the best customer services through your website by applying the following points:
• Online Purchasing
• Online order tracking system
• Online updated Inventory Information
• Online Cash Payment
• Online Complaint and suggestions box
• Special Demos how to use the products
• Chat facility with Experts
• Complete booklet available on the web so that customers can come to know about some technical parts of the product in order to understand the usage of the home appliances
• Complete info about your sales outlets i.e. addresses ,contact numbers ,emails and their locations through maps
Monday, September 13, 2010
MKT610 Assignment # 1 Solution
Assignment # 1 CRM
Scenario: Being a customer relationship manager of a computer hardware company, you
are receiving greater number of complaints about the warranted claims of spare parts,
they say that your process is very complex and time consuming, presently a customer fills
out a form, attaches proof of purchase and sends that from with spare part to your
customer care office located in Karachi, after receiving and examining, you inform to the
customer through courier service about the decision with in 5 days that warranty claim is
true or not, if it is true a new warranted spare part reaches with in 3 days to the customer
mail address. This long and complex process is frustrating to your customers.
Q 1 Give the critical analysis of this scenario? 10 points
Q 2 Being a CR manager, how do you propose the appropriate changes in existing
customer care to provide better care? (Keep in mind TCCP). 10 points
Solution:
Answer 1: In the above scenario, there are certain weaknesses,
• Only one office located in Karachi is operating to cover the whole country.
• Visibility of customer service is very low.
• After receiving from courier, examining and verifying process is too long.
• Also if warranted claim is true, delivering the spare part is taking three days,
which is also not acceptable for customers.
Answer 2: Lots of improvements can be made,
• There is great need to divide the whole market into two or three regions, so that
customer feel closer to your customer care, burden of complaints can also be
shared.
• Verifying and examining process time can be minimized by hiring more
technicians and staff.
• Speedy work can be made with in the department by introducing latest technology
and soft wares for customer care handling.
• To facilitate customers, complaint tracking should be provided through
company’s website or even through SMS.
• There is a need of hiring a speedy courier to deliver spare part within next 24
hours rather in 72 hours.
Scenario: Being a customer relationship manager of a computer hardware company, you
are receiving greater number of complaints about the warranted claims of spare parts,
they say that your process is very complex and time consuming, presently a customer fills
out a form, attaches proof of purchase and sends that from with spare part to your
customer care office located in Karachi, after receiving and examining, you inform to the
customer through courier service about the decision with in 5 days that warranty claim is
true or not, if it is true a new warranted spare part reaches with in 3 days to the customer
mail address. This long and complex process is frustrating to your customers.
Q 1 Give the critical analysis of this scenario? 10 points
Q 2 Being a CR manager, how do you propose the appropriate changes in existing
customer care to provide better care? (Keep in mind TCCP). 10 points
Solution:
Answer 1: In the above scenario, there are certain weaknesses,
• Only one office located in Karachi is operating to cover the whole country.
• Visibility of customer service is very low.
• After receiving from courier, examining and verifying process is too long.
• Also if warranted claim is true, delivering the spare part is taking three days,
which is also not acceptable for customers.
Answer 2: Lots of improvements can be made,
• There is great need to divide the whole market into two or three regions, so that
customer feel closer to your customer care, burden of complaints can also be
shared.
• Verifying and examining process time can be minimized by hiring more
technicians and staff.
• Speedy work can be made with in the department by introducing latest technology
and soft wares for customer care handling.
• To facilitate customers, complaint tracking should be provided through
company’s website or even through SMS.
• There is a need of hiring a speedy courier to deliver spare part within next 24
hours rather in 72 hours.
MKT621 Assignment # 2 Solution
Semester “Spring 2010”
“Advertising & Promotion (MKT621)”
Assignment No. 02 Marks: 10
“Sales Promotion”
1: Develop a market share winning sales promotion campaign for the brand called
“Rawayat”. (4)
Sales promotion tools have become an important part of new brand introduction. The
level of initial trial of brand “Rawayat” can be increased through techniques such as
sampling, couponing and refund offers.
In-store sampling would be helpful for “Rawayat” to induce the purchase of brand in
which demonstrators set up a table or booth and customer taste the item. Promotional
incentives such as coupon or refund offers can also be included with a sample to
encourage repeat purchase after trial.
2: Develop a mode of advertising which could support the above sales promotion
campaign. (3)
Broadcast media (TV, Radio) and print media (Newspaper) can be used for “Rawayat” to
cover the mass market.
1. Television: TV commercial can be used to convey an image of the brand “Rawayat” as
well as develop emotional or entertaining appeals that help make a product interesting.
Television advertising makes it possible to reach large audience cost efficiently. Nearly
everyone regardless of age, sex, income or educational level watches TV. Because of its
ability to reach large audiences in cost-efficient manner, TV is popular medium among
companies selling mass consumption products.
2. Radio: “Rawayat” can be introduced via radio that is an inexpensive advertising
medium to produce. Radio requires only a script of the commercial to be ready by the
announcer or copy of a prerecorded message that can be broadcast by the station. The
cost for radio time is also very low. Reach of the message can be broaden by
broadcasting it on different stations.
3. Newspaper: Newspaper advertising remains the largest advertising medium in terms
of total advertising volume. Newspaper’s image strength is that it can be used efficiently
by advertisers on continual basis and newspapers have been redesigned to be more
interesting, easier and faster to read. News paper can cover a mass market.
3: Develop promotion budget by specifying the budgeting method for the above
campaign. (3)
A renowned FMCG (Fast Moving Consumer Goods) Company can use the following
methods to develop its promotional budget:
1) Percentage of Sales Method: The most commonly used method for setting
budget (particularly in large firms) is percentage-of-sales method in which
advertising and promotion budget is based on sales of the product. As “Rawayat”
is a new brand so its sales histories are not available, its promotional budget will
be set on the basis of estimated sales.
2) Objective & Task method: In this method budget is set driven by the objective
to be attained. This approach consists of three steps:
FMCG Company wants to create awareness among its target market
Specific tasks will be determined to achieve objectives like Advertise on
TV, Newspaper and Radio
Costs will be estimated associated with tasks:
o Television advertisement = Rs. 4000
o Newspaper advertisements = Rs. 3000
o Radio advertisement = Rs. 2000
o Sampling= Rs. 1000
The both methods can be used in conjunction. Many firms now start the budgeting
process by establishing the objectives they need to accomplish and then limit the budget
by applying percent of sales method.
Note:
Sales promotion techniques and budgeting methods can vary from student to
student but a strong justification is required with each method.
Promotional Budget as a Percent of Estimated Sales
Expected Gross Revenue Rs.100,000
Percent of Gross Revenue for Promotion 10%
Total amount allocated to promotion Rs.10,000
Promotional Activities Cost Balance
Newspaper advertisements Rs. 3000 Rs. 7000
Television advertisement Rs. 4000 Rs. 3000
Radio advertisement Rs. 2000 Rs. 1000
Sampling Rs. 1000 -0-
Total promotional expenditures/balance
10,000 -0-
“Advertising & Promotion (MKT621)”
Assignment No. 02 Marks: 10
“Sales Promotion”
1: Develop a market share winning sales promotion campaign for the brand called
“Rawayat”. (4)
Sales promotion tools have become an important part of new brand introduction. The
level of initial trial of brand “Rawayat” can be increased through techniques such as
sampling, couponing and refund offers.
In-store sampling would be helpful for “Rawayat” to induce the purchase of brand in
which demonstrators set up a table or booth and customer taste the item. Promotional
incentives such as coupon or refund offers can also be included with a sample to
encourage repeat purchase after trial.
2: Develop a mode of advertising which could support the above sales promotion
campaign. (3)
Broadcast media (TV, Radio) and print media (Newspaper) can be used for “Rawayat” to
cover the mass market.
1. Television: TV commercial can be used to convey an image of the brand “Rawayat” as
well as develop emotional or entertaining appeals that help make a product interesting.
Television advertising makes it possible to reach large audience cost efficiently. Nearly
everyone regardless of age, sex, income or educational level watches TV. Because of its
ability to reach large audiences in cost-efficient manner, TV is popular medium among
companies selling mass consumption products.
2. Radio: “Rawayat” can be introduced via radio that is an inexpensive advertising
medium to produce. Radio requires only a script of the commercial to be ready by the
announcer or copy of a prerecorded message that can be broadcast by the station. The
cost for radio time is also very low. Reach of the message can be broaden by
broadcasting it on different stations.
3. Newspaper: Newspaper advertising remains the largest advertising medium in terms
of total advertising volume. Newspaper’s image strength is that it can be used efficiently
by advertisers on continual basis and newspapers have been redesigned to be more
interesting, easier and faster to read. News paper can cover a mass market.
3: Develop promotion budget by specifying the budgeting method for the above
campaign. (3)
A renowned FMCG (Fast Moving Consumer Goods) Company can use the following
methods to develop its promotional budget:
1) Percentage of Sales Method: The most commonly used method for setting
budget (particularly in large firms) is percentage-of-sales method in which
advertising and promotion budget is based on sales of the product. As “Rawayat”
is a new brand so its sales histories are not available, its promotional budget will
be set on the basis of estimated sales.
2) Objective & Task method: In this method budget is set driven by the objective
to be attained. This approach consists of three steps:
FMCG Company wants to create awareness among its target market
Specific tasks will be determined to achieve objectives like Advertise on
TV, Newspaper and Radio
Costs will be estimated associated with tasks:
o Television advertisement = Rs. 4000
o Newspaper advertisements = Rs. 3000
o Radio advertisement = Rs. 2000
o Sampling= Rs. 1000
The both methods can be used in conjunction. Many firms now start the budgeting
process by establishing the objectives they need to accomplish and then limit the budget
by applying percent of sales method.
Note:
Sales promotion techniques and budgeting methods can vary from student to
student but a strong justification is required with each method.
Promotional Budget as a Percent of Estimated Sales
Expected Gross Revenue Rs.100,000
Percent of Gross Revenue for Promotion 10%
Total amount allocated to promotion Rs.10,000
Promotional Activities Cost Balance
Newspaper advertisements Rs. 3000 Rs. 7000
Television advertisement Rs. 4000 Rs. 3000
Radio advertisement Rs. 2000 Rs. 1000
Sampling Rs. 1000 -0-
Total promotional expenditures/balance
10,000 -0-
MKT621 Assignment # 1 Solution
Semester “Spring 2010”
Advertising & Promotion (MKT621)”
Assignment No. 01 Marks: 20
“Case Study Solution”
Question # 01: Suggest a suitable Brand Name for Irfan’s business which should have a
potential to be a National and ultimately Multinational brand. (2)
Answer # 01: They following names are suggested as per requirements:
Taza Doodh or The Fresh Milk
Desi Doodh or Domestic Milk
The Mother
Question # 02: Suggest which Promotional Mix (Tool) Irfan should use to market his
business in local market after keeping the nature of his market segment. (10)
Answer # 02: Following promotion mix is suggested:
Public Relations
Sampling of milk (Sale Promotion)
Out door advertising (Banners, Broachers and hoardings)
Cable network advertising
Question # 03: Design the following Promotion Tools for Irfan’s business: (6)
a. Broachers/ Leaflets/ Pamphlet
b. Banners (Along with their hanging according to your own city)
c. Billboards (Along with their locations according to your own city)
Answer # 03: Answer of this question is subjective and it will vary from student to
student.
Question # 04: Give General Comments about his business idea that does it have
potential to succeed? (2)
Answer # 04: Generally Irfan’s business idea is rational and has potential as milk is
multi functional daily use product (basic necessity) on one hand and on the other hand
people are going back to the fresh milk instead of packed milk.
Advertising & Promotion (MKT621)”
Assignment No. 01 Marks: 20
“Case Study Solution”
Question # 01: Suggest a suitable Brand Name for Irfan’s business which should have a
potential to be a National and ultimately Multinational brand. (2)
Answer # 01: They following names are suggested as per requirements:
Taza Doodh or The Fresh Milk
Desi Doodh or Domestic Milk
The Mother
Question # 02: Suggest which Promotional Mix (Tool) Irfan should use to market his
business in local market after keeping the nature of his market segment. (10)
Answer # 02: Following promotion mix is suggested:
Public Relations
Sampling of milk (Sale Promotion)
Out door advertising (Banners, Broachers and hoardings)
Cable network advertising
Question # 03: Design the following Promotion Tools for Irfan’s business: (6)
a. Broachers/ Leaflets/ Pamphlet
b. Banners (Along with their hanging according to your own city)
c. Billboards (Along with their locations according to your own city)
Answer # 03: Answer of this question is subjective and it will vary from student to
student.
Question # 04: Give General Comments about his business idea that does it have
potential to succeed? (2)
Answer # 04: Generally Irfan’s business idea is rational and has potential as milk is
multi functional daily use product (basic necessity) on one hand and on the other hand
people are going back to the fresh milk instead of packed milk.
CS507 Assignment # 3 Solution
Information System (CS507)
Spring 2010
Assignment No. 3
Due Date:
Your assignment must be uploaded/submitted before or on 20th May 2010.
Max Marks: 20
Uploading instructions:
Please view the Assignment Submission Process document provided to you by the Virtual University for uploading assignments.
The assignment should be in .doc format.
Save your assignment with your ID (e.g. bx020200786.doc).
The assignment submission through email is highly discouraged.
Rules for Marking:
It should be clear that your assignment will not get any credit if:
The assignment is submitted after due date.
The submitted assignment file is corrupted.
The assignment is copied.
The assignment material is directly copied from internet.
Note:
Your answer must follow the below given specifications. You will be assigned no marks if you do not follow these instructions.
Font style: "Times New Roman"
Font color: "Black"
Font size: "12"
Bold for heading only.
Font in Italic is not allowed at all.
Q. 1: How can you describe the factors which will ensure the successful implementation of SDLC? Explain at least three.
(Marks: 10)
Answer :( 3.33+3.33+3.33)
Management Support
Developers/system designers need to have the support of the management as much as possible since the management will dictate whether they need the product or not.
Technical and Business Expertise
There are regular programmers and there are really smart programmers who just know what to do even when the software’s objective is presented for the first time. These programmers know what SDLC model to use together with the languages or toolkits that need to be learn to ensure this program is a success. On the other hand, business expertise is also important in software development cycle since they will dictate the demand for particular software. Business expertise is also important in SDLC since they will determine whether the software will eventually be a factor in time and money saving.
Proper Documentation/ Deliverables for Maintenance
Granting the results of the software development is a success; it’s time to place them in all in papers. Success in building software will only be gauged once they are released to the pubic with ease. Although there will be problems, it’s up to the developers to maintain these programs until these are decommissioned. If worst comes to worst and it has to go back to the drawing board, documentation will tell the developers where they might have done it wrong.
Security
Security should be the number priority of any developers. The ability to handle information and protect them from attack will tell how professional the business is. It’s important to look for these defects before they are actually released to the public.
Q. 2: List down the pros and cons of Incremental Model? Also mention when to use the Incremental Model?
(Marks: 10)
Answer :( 3.33+3.33+3.33)
Incremental Model Pros
Working functionality is produced earlier – computation of value to cost ratio
Reduces risks of change in user requirements
Provides clients flexibility in decision making.
Risk management is incremental
Smaller scope for change in user requirements
Develop high-risk or major functions first
Each release delivers an operational product
Customer can respond to each build
Lowers initial delivery cost
Initial product delivery is faster
Customers get important functionality early
Risk of changing requirements is reduced
Incremental Model Cons
Larger picture cannot be seen until the entire system is built
Difficult to break down the total system at early stage of product development to determine reasonable increments
Requires good planning and design
Total cost of the complete system is not lower
When to use the Incremental Model
Need to reduces risks of change in user requirements and reduce program complexity.
Provides clients flexibility in decision making
A need to get basic functionality to the market early
On projects which have lengthy development schedules
Spring 2010
Assignment No. 3
Due Date:
Your assignment must be uploaded/submitted before or on 20th May 2010.
Max Marks: 20
Uploading instructions:
Please view the Assignment Submission Process document provided to you by the Virtual University for uploading assignments.
The assignment should be in .doc format.
Save your assignment with your ID (e.g. bx020200786.doc).
The assignment submission through email is highly discouraged.
Rules for Marking:
It should be clear that your assignment will not get any credit if:
The assignment is submitted after due date.
The submitted assignment file is corrupted.
The assignment is copied.
The assignment material is directly copied from internet.
Note:
Your answer must follow the below given specifications. You will be assigned no marks if you do not follow these instructions.
Font style: "Times New Roman"
Font color: "Black"
Font size: "12"
Bold for heading only.
Font in Italic is not allowed at all.
Q. 1: How can you describe the factors which will ensure the successful implementation of SDLC? Explain at least three.
(Marks: 10)
Answer :( 3.33+3.33+3.33)
Management Support
Developers/system designers need to have the support of the management as much as possible since the management will dictate whether they need the product or not.
Technical and Business Expertise
There are regular programmers and there are really smart programmers who just know what to do even when the software’s objective is presented for the first time. These programmers know what SDLC model to use together with the languages or toolkits that need to be learn to ensure this program is a success. On the other hand, business expertise is also important in software development cycle since they will dictate the demand for particular software. Business expertise is also important in SDLC since they will determine whether the software will eventually be a factor in time and money saving.
Proper Documentation/ Deliverables for Maintenance
Granting the results of the software development is a success; it’s time to place them in all in papers. Success in building software will only be gauged once they are released to the pubic with ease. Although there will be problems, it’s up to the developers to maintain these programs until these are decommissioned. If worst comes to worst and it has to go back to the drawing board, documentation will tell the developers where they might have done it wrong.
Security
Security should be the number priority of any developers. The ability to handle information and protect them from attack will tell how professional the business is. It’s important to look for these defects before they are actually released to the public.
Q. 2: List down the pros and cons of Incremental Model? Also mention when to use the Incremental Model?
(Marks: 10)
Answer :( 3.33+3.33+3.33)
Incremental Model Pros
Working functionality is produced earlier – computation of value to cost ratio
Reduces risks of change in user requirements
Provides clients flexibility in decision making.
Risk management is incremental
Smaller scope for change in user requirements
Develop high-risk or major functions first
Each release delivers an operational product
Customer can respond to each build
Lowers initial delivery cost
Initial product delivery is faster
Customers get important functionality early
Risk of changing requirements is reduced
Incremental Model Cons
Larger picture cannot be seen until the entire system is built
Difficult to break down the total system at early stage of product development to determine reasonable increments
Requires good planning and design
Total cost of the complete system is not lower
When to use the Incremental Model
Need to reduces risks of change in user requirements and reduce program complexity.
Provides clients flexibility in decision making
A need to get basic functionality to the market early
On projects which have lengthy development schedules
Thursday, September 2, 2010
MGT201 Assignment # 1 Solution
SSeemmeesstteerr ““SSpprriinngg 22001100””
FFiinnaanncciiaall MMaannaaggeemmeenntt ((MMGGTT220011))
AAssssiiggnnmmeenntt ## 0011 MMaarrkkss:: 2200
“Capital Budgeting Techniques”
OOPPEENNIINNGG AA NNEEWW BBRRAANNCCHH…………AA CCAAPPIITTAALL IINNVVEESSTTMMEENNTT
The Premier National Bank has just a single banking office located in a small city Chitral. As per the changing style of population and emerging trends in the banking sector, Premier National Bank has seen its share of both local banking deposits and profits decline. Two of the bank’s vice presidents have proposed that Premier National Bank should try to reverse the trend by building a branch in a new location of this small city. They have presented the following information to the Bank’s executive committee.
The initial cost of the bank building and equipment is Rs.1 million. This facility is expected to have a useful life of 10 years. Also, in 10 years at the end of the project, the branch building and its equipment are expected to be sold for Rs.200,000 salvage value. The branch building and equipment will be depreciated over their 10-years life using straight-line depreciation. Moreover, the bank’s building is to be constructed on land leased for Rs.20,000 per year.
Based on customer survey, population trends, the location of competitors, and the experience other area banks have had with their branches, it is estimated that the annual revenues from the new branch will be:
Year 1-6
Rs. 510,000 each year
Year 7
410,000
Year 8
450,000
Year 9
500,000
Year 10
400,000
In addition to Rs.20,000 annual expenses for the land lease, the new branch will incur about Rs.230,000 per year in other expenses including personnel costs, utilities and interest paid on accounts. Both expenses and revenues are expected to remain approximately constant over the branch’s 10-year life. The bank’s cost of capital is 9% after taxes.
Based on the information contained in the case, use Net Present Value decision criteria to suggest whether it is feasible for Premier National Bank to start the new branch in such a small city.
SSoolluuttiioonn::
Initial investment = 1 million
Salvage value = Rs.200,000
PV of Salvage value = 200,000 (PVIF 9%, 10) OR 200,000 / (1 + 0.09) 10
As it is to be received after 10 years
PV of Salvage value = 200,000 (0.422)
PV of Salvage value = Rs.84,400
PV of lease payments = CCF [1-1/(1+i)n]
i
= 20,000 [1-1/(1+0.09)10] OR 20,000 (PVIFA 9%, 10)
0.09
= 20,000 (6.418)
= Rs.128,360
Depreciation of building and equipment = Cost – Salvage value/ Useful life
Depreciation of building and equipment = 1 million – 200,000/10
Depreciation of building and equipment = Rs.80,000 per year
Since depreciation is a non-cash expense so Depreciation is to be deducted from expenses. As only cash items or cash flows are considered in NPV calculations. So, other expenses are Rs.150,000 (230,000- 80,000).
PV of other expenses = 150,000 [1-1/(1+0.09)10] OR 150,000 (PVIFA 9%, 10)
0.09
= 150,000 (6.418)
= Rs.962,700
Present value of cash inflows of 1st six years:
PV of 1-6 Year Cash Inflows = 510,000 [1-1/(1+0.09)6] OR 510,000 (PVIFA 9%, 6)
0.09
= 510,000 (4.486)
= Rs.22,87,860
PV of Year 7 Cash Inflow = 410,000 (PVIF 9%, 7) OR 410,000 / (1 + 0.09) 7
= 410,000 (0.547)
= Rs.224,270
PV of Year 8 Cash Inflow = 450,000 (PVIF 9%, 8) OR 450,000 / (1 + 0.09) 8
= 450,000 (0.502)
= Rs.225,900
PV of Year 9 Cash Inflow = 500,000 (PVIF 9%, 9) OR 500,000 / (1 + 0.09) 9
= 410,000 (0.460)
= Rs.230,000
PV of Year10 Cash Inflow = 400,000 (PVIF 9%, 10) OR 400,000 / (1 + 0.09) 10
= 400,000 (0.422)
= Rs.168,800
NPV = -IO + ΣCF t / (1+i) t
= – initial investment + PV of all Cash flows
= -1 Million + 22,87,860 + 224,270 + 225,900 + 230,000 + 168,800 + 84,400 - 128,360 - 962,700
= Rs.1,130,170
(Negative sign with some cash flows shows that these are cash outflows and cash outflows are subtracted from cash inflows)
As NPV is Positive, so it is feasible for Premier National Bank to start the new branch in Chitral city.
Best of Luck!!!!!!!
FFiinnaanncciiaall MMaannaaggeemmeenntt ((MMGGTT220011))
AAssssiiggnnmmeenntt ## 0011 MMaarrkkss:: 2200
“Capital Budgeting Techniques”
OOPPEENNIINNGG AA NNEEWW BBRRAANNCCHH…………AA CCAAPPIITTAALL IINNVVEESSTTMMEENNTT
The Premier National Bank has just a single banking office located in a small city Chitral. As per the changing style of population and emerging trends in the banking sector, Premier National Bank has seen its share of both local banking deposits and profits decline. Two of the bank’s vice presidents have proposed that Premier National Bank should try to reverse the trend by building a branch in a new location of this small city. They have presented the following information to the Bank’s executive committee.
The initial cost of the bank building and equipment is Rs.1 million. This facility is expected to have a useful life of 10 years. Also, in 10 years at the end of the project, the branch building and its equipment are expected to be sold for Rs.200,000 salvage value. The branch building and equipment will be depreciated over their 10-years life using straight-line depreciation. Moreover, the bank’s building is to be constructed on land leased for Rs.20,000 per year.
Based on customer survey, population trends, the location of competitors, and the experience other area banks have had with their branches, it is estimated that the annual revenues from the new branch will be:
Year 1-6
Rs. 510,000 each year
Year 7
410,000
Year 8
450,000
Year 9
500,000
Year 10
400,000
In addition to Rs.20,000 annual expenses for the land lease, the new branch will incur about Rs.230,000 per year in other expenses including personnel costs, utilities and interest paid on accounts. Both expenses and revenues are expected to remain approximately constant over the branch’s 10-year life. The bank’s cost of capital is 9% after taxes.
Based on the information contained in the case, use Net Present Value decision criteria to suggest whether it is feasible for Premier National Bank to start the new branch in such a small city.
SSoolluuttiioonn::
Initial investment = 1 million
Salvage value = Rs.200,000
PV of Salvage value = 200,000 (PVIF 9%, 10) OR 200,000 / (1 + 0.09) 10
As it is to be received after 10 years
PV of Salvage value = 200,000 (0.422)
PV of Salvage value = Rs.84,400
PV of lease payments = CCF [1-1/(1+i)n]
i
= 20,000 [1-1/(1+0.09)10] OR 20,000 (PVIFA 9%, 10)
0.09
= 20,000 (6.418)
= Rs.128,360
Depreciation of building and equipment = Cost – Salvage value/ Useful life
Depreciation of building and equipment = 1 million – 200,000/10
Depreciation of building and equipment = Rs.80,000 per year
Since depreciation is a non-cash expense so Depreciation is to be deducted from expenses. As only cash items or cash flows are considered in NPV calculations. So, other expenses are Rs.150,000 (230,000- 80,000).
PV of other expenses = 150,000 [1-1/(1+0.09)10] OR 150,000 (PVIFA 9%, 10)
0.09
= 150,000 (6.418)
= Rs.962,700
Present value of cash inflows of 1st six years:
PV of 1-6 Year Cash Inflows = 510,000 [1-1/(1+0.09)6] OR 510,000 (PVIFA 9%, 6)
0.09
= 510,000 (4.486)
= Rs.22,87,860
PV of Year 7 Cash Inflow = 410,000 (PVIF 9%, 7) OR 410,000 / (1 + 0.09) 7
= 410,000 (0.547)
= Rs.224,270
PV of Year 8 Cash Inflow = 450,000 (PVIF 9%, 8) OR 450,000 / (1 + 0.09) 8
= 450,000 (0.502)
= Rs.225,900
PV of Year 9 Cash Inflow = 500,000 (PVIF 9%, 9) OR 500,000 / (1 + 0.09) 9
= 410,000 (0.460)
= Rs.230,000
PV of Year10 Cash Inflow = 400,000 (PVIF 9%, 10) OR 400,000 / (1 + 0.09) 10
= 400,000 (0.422)
= Rs.168,800
NPV = -IO + ΣCF t / (1+i) t
= – initial investment + PV of all Cash flows
= -1 Million + 22,87,860 + 224,270 + 225,900 + 230,000 + 168,800 + 84,400 - 128,360 - 962,700
= Rs.1,130,170
(Negative sign with some cash flows shows that these are cash outflows and cash outflows are subtracted from cash inflows)
As NPV is Positive, so it is feasible for Premier National Bank to start the new branch in Chitral city.
Best of Luck!!!!!!!
FINI619 Intership Report Format
VIRTUAL UNIVERSITY OF PAKISTAN
FORMAT OF THE INTERNSHIP REPORT
Masters of Business Administration (Finance)
1. Title page
The title page of the report will include:
a. Name of the organization
b. Name of the internee, Student ID and session
c. Submission date of the internship report
d. Name of the University
e. VU logo
2. Letter of Undertaking
You are required to fill in the Letter of Undertaking provided in the ‘Download’
section of the course VULMS and attach here the scanned copy after signing it.
3. Scanned copy of the internship certificate (provided by the organization)
Attach the scanned copy of your (original) Internship Completion certificate provided
by the organization.
4. Dedication (Optional)
If you want to dedicate your work to someone, you may write the dedication note
under this section of your internship report.
5. Acknowledgement
In this section you should acknowledge the help and support of all the people who
helped you in the compilation of your internship and internship report e.g. the library
staff, instructor, family, or any other person.
6. Executive summary
An executive summary previews the main points of an in-depth report. It helps the
reader to get a quick glance at the report before reading it in detail. It can be called as
micro image of the report. Every thing important that you have done, discovered and
concluded should be mentioned but briefly and concisely.
7. Table of contents
i. List the important headings and sub headings in the report with their respective
page numbers.
ii. Also make a separate list of tables and figures in the table of contents if you have
used any.
8. Brief introduction of the organization’s business sector (minimum word limit:
400-500 words)
Describe overview of the complete sector in which the organization falls according to
current scenario.
"Brief introduction of the business sector" refers to the main area which the
organization deals in i.e. consumer consumable, consumer durable or services, e.g.
Textile, Dairy or Telecom etc. But you should discuss the main sector and NOT the
organization under consideration.
9. Overview of the organization (minimum word limit: 800-1000 words)
a. Brief history
b. Nature of the organization
c. Business volume (Total number of stock, shares, bonds/ commodities, future
contracts planned for a particular period etc).
d. Product lines (A complete range of products/ services of the organization)
e. Competitors
10. Organizational structure (minimum word limit: 700-900 words)
a. Organizational Hierarchy chart
b. Number of employees
c. Main offices
d. Introduction of all the departments
e. Comments on the organizational structure (You would have to comment or
give your opinion on the structure of the organization as a whole that whether the
adopted structure and practices fulfill the requirements of the organization or
not.)
Note:
In section # 8-10, students are expected to collect information from various sources
such as within the organization (managers, internship supervisor and other concerned
persons) and company’s website, documents, brochures etc. but it is necessary to
mention the sources of information in APA format.
11. Plan of your internship program (minimum word limit: 200-300 words)
a. A brief introduction of the branch where you did your internship
b. Starting and ending dates of your internship
c. Names of the departments in which you got training and the duration of your
training
12. Training program (minimum word limit: 2000-2200 words)
a. Detailed description of the operations/activities performed by the department(s)
you worked in.
b. Detailed description of the tasks assigned to you.
OR
Detailed description of the project (s) assigned to you.
13. Structure of the Finance Department (minimum word limit: 150-200 words)
a. Departmental hierarchy
b. Number of employees working in the finance department
c. Finance & accounting operations
14. Functions of the Finance Department (minimum word limit: 600-700 words)
a. Accounting system of the organization
b. Finance system of the organization
c. Use of electronic data in decision making
d. Sources of funds
e. Allocation of funds
15. Critical analysis (minimum word limit: 2500-3500 words)
Relate the theoretical concepts with your practical experience during your internship
with the finance department.
a. Financial analysis
A document "Essentials for Financial Statement Analysis" is available under the
ICON of "DOWNLOADS" on VULMS of this course. You are required to
provide the critical analysis of most recent three years. Critical analysis based on
the financial data older than recent three years will NOT be considered.
i) Ratio Analysis
ii) Horizontal Analysis
iii) Vertical Analysis
iv) Industry Analysis (comparison with its industry or with its
competitors)
v) Trend Analysis
b. Future prospects of the organization.
16. SWOT analysis of organization (in bullets) (minimum word limit: 300-400
words)
SWOT analysis clearly describes the strengths, weaknesses, opportunities and threats
to the organization in which you have done internship. Remember that strengths and
weaknesses are internal to the organization and represent its culture while
opportunities and threats correspond to the environment outside the organization.
It is required to be discussed in bullets.
17. Conclusion (minimum word limit: 150-200 words)
In this section, you are required to describe the organization according to your
evaluation/assessment in the light of critical and SWOT analyses.
18. Recommendations for improvement (minimum word limit: 200-250 words)
In this section, you are required to suggest solutions for all the problems or
discrepancies (you have pointed out in critical and SWOT analysis) found in the
organization.
Note:
Section # 11-18 are NOT expected to be copied from anywhere, the student must
provide information in these sections based on his/her personal observation, learning
and experience gained during the internship. Cheating or copying in these sections is
NOT acceptable and hence the entire internship report can be completely rejected as
per ZERO TOLERANCE POLICY of the university. The university may also take
a legal action according to plagiarism policy as defined by HEC (Higher Education
Commission).
19. Reference & Sources used
In this section, provide all the references and sources in APA format that you have
used for data collection in your internship Report.
20. Annexes
At the end of your report, attach all of the supportive material you have used for the
preparation of your report, like brochures, forms, newsletters, interviews,
questionnaires etc.
You must provide scanned copies of all the financial statements used for financial
analysis. (If you have downloaded the financial statements from internet then its
source or web link should be provided. Scanned copies are not required in such case).
Your work will not be considered or accepted in case you do not provide scanned
copies or source of original financial statements.
Note:
• Complete all the required parts as mentioned in the format of Internship Report.
Remember, each part is essential, therefore, DO NOT skip any part as every part is
included in evaluation criteria.
• Minimum words required for internship report are 8000 – 10,000.
• There should be harmony among the ideas that you describe in the Critical analysis,
SWOT analysis, Conclusions and Recommendations.
• Internship Report should be submitted within the due date as mentioned in the
‘Semester Calendar’. Submissions made after due date shall not be considered.
• Students are required to upload their Internship Reports on VULMS of the course
against the relevant assignment. Internship Reports submitted via e-mail will not be
accepted. Students can upload their Internship Reports only once that will be
considered as their final submission and will not be replaced in any case.
FORMAT OF THE INTERNSHIP REPORT
Masters of Business Administration (Finance)
1. Title page
The title page of the report will include:
a. Name of the organization
b. Name of the internee, Student ID and session
c. Submission date of the internship report
d. Name of the University
e. VU logo
2. Letter of Undertaking
You are required to fill in the Letter of Undertaking provided in the ‘Download’
section of the course VULMS and attach here the scanned copy after signing it.
3. Scanned copy of the internship certificate (provided by the organization)
Attach the scanned copy of your (original) Internship Completion certificate provided
by the organization.
4. Dedication (Optional)
If you want to dedicate your work to someone, you may write the dedication note
under this section of your internship report.
5. Acknowledgement
In this section you should acknowledge the help and support of all the people who
helped you in the compilation of your internship and internship report e.g. the library
staff, instructor, family, or any other person.
6. Executive summary
An executive summary previews the main points of an in-depth report. It helps the
reader to get a quick glance at the report before reading it in detail. It can be called as
micro image of the report. Every thing important that you have done, discovered and
concluded should be mentioned but briefly and concisely.
7. Table of contents
i. List the important headings and sub headings in the report with their respective
page numbers.
ii. Also make a separate list of tables and figures in the table of contents if you have
used any.
8. Brief introduction of the organization’s business sector (minimum word limit:
400-500 words)
Describe overview of the complete sector in which the organization falls according to
current scenario.
"Brief introduction of the business sector" refers to the main area which the
organization deals in i.e. consumer consumable, consumer durable or services, e.g.
Textile, Dairy or Telecom etc. But you should discuss the main sector and NOT the
organization under consideration.
9. Overview of the organization (minimum word limit: 800-1000 words)
a. Brief history
b. Nature of the organization
c. Business volume (Total number of stock, shares, bonds/ commodities, future
contracts planned for a particular period etc).
d. Product lines (A complete range of products/ services of the organization)
e. Competitors
10. Organizational structure (minimum word limit: 700-900 words)
a. Organizational Hierarchy chart
b. Number of employees
c. Main offices
d. Introduction of all the departments
e. Comments on the organizational structure (You would have to comment or
give your opinion on the structure of the organization as a whole that whether the
adopted structure and practices fulfill the requirements of the organization or
not.)
Note:
In section # 8-10, students are expected to collect information from various sources
such as within the organization (managers, internship supervisor and other concerned
persons) and company’s website, documents, brochures etc. but it is necessary to
mention the sources of information in APA format.
11. Plan of your internship program (minimum word limit: 200-300 words)
a. A brief introduction of the branch where you did your internship
b. Starting and ending dates of your internship
c. Names of the departments in which you got training and the duration of your
training
12. Training program (minimum word limit: 2000-2200 words)
a. Detailed description of the operations/activities performed by the department(s)
you worked in.
b. Detailed description of the tasks assigned to you.
OR
Detailed description of the project (s) assigned to you.
13. Structure of the Finance Department (minimum word limit: 150-200 words)
a. Departmental hierarchy
b. Number of employees working in the finance department
c. Finance & accounting operations
14. Functions of the Finance Department (minimum word limit: 600-700 words)
a. Accounting system of the organization
b. Finance system of the organization
c. Use of electronic data in decision making
d. Sources of funds
e. Allocation of funds
15. Critical analysis (minimum word limit: 2500-3500 words)
Relate the theoretical concepts with your practical experience during your internship
with the finance department.
a. Financial analysis
A document "Essentials for Financial Statement Analysis" is available under the
ICON of "DOWNLOADS" on VULMS of this course. You are required to
provide the critical analysis of most recent three years. Critical analysis based on
the financial data older than recent three years will NOT be considered.
i) Ratio Analysis
ii) Horizontal Analysis
iii) Vertical Analysis
iv) Industry Analysis (comparison with its industry or with its
competitors)
v) Trend Analysis
b. Future prospects of the organization.
16. SWOT analysis of organization (in bullets) (minimum word limit: 300-400
words)
SWOT analysis clearly describes the strengths, weaknesses, opportunities and threats
to the organization in which you have done internship. Remember that strengths and
weaknesses are internal to the organization and represent its culture while
opportunities and threats correspond to the environment outside the organization.
It is required to be discussed in bullets.
17. Conclusion (minimum word limit: 150-200 words)
In this section, you are required to describe the organization according to your
evaluation/assessment in the light of critical and SWOT analyses.
18. Recommendations for improvement (minimum word limit: 200-250 words)
In this section, you are required to suggest solutions for all the problems or
discrepancies (you have pointed out in critical and SWOT analysis) found in the
organization.
Note:
Section # 11-18 are NOT expected to be copied from anywhere, the student must
provide information in these sections based on his/her personal observation, learning
and experience gained during the internship. Cheating or copying in these sections is
NOT acceptable and hence the entire internship report can be completely rejected as
per ZERO TOLERANCE POLICY of the university. The university may also take
a legal action according to plagiarism policy as defined by HEC (Higher Education
Commission).
19. Reference & Sources used
In this section, provide all the references and sources in APA format that you have
used for data collection in your internship Report.
20. Annexes
At the end of your report, attach all of the supportive material you have used for the
preparation of your report, like brochures, forms, newsletters, interviews,
questionnaires etc.
You must provide scanned copies of all the financial statements used for financial
analysis. (If you have downloaded the financial statements from internet then its
source or web link should be provided. Scanned copies are not required in such case).
Your work will not be considered or accepted in case you do not provide scanned
copies or source of original financial statements.
Note:
• Complete all the required parts as mentioned in the format of Internship Report.
Remember, each part is essential, therefore, DO NOT skip any part as every part is
included in evaluation criteria.
• Minimum words required for internship report are 8000 – 10,000.
• There should be harmony among the ideas that you describe in the Critical analysis,
SWOT analysis, Conclusions and Recommendations.
• Internship Report should be submitted within the due date as mentioned in the
‘Semester Calendar’. Submissions made after due date shall not be considered.
• Students are required to upload their Internship Reports on VULMS of the course
against the relevant assignment. Internship Reports submitted via e-mail will not be
accepted. Students can upload their Internship Reports only once that will be
considered as their final submission and will not be replaced in any case.
Wednesday, September 1, 2010
MGT502 Assignment # 2 Solution
Transition to Leadership:
Mr. Fahad, Imran and Ibrahim were promoted within their organizations into management
positions. Each one of them found the transition as a challenge.
Mr. Fahad was promoted as director of catering for the Decent group of restaurants. With the
promotion, he realized that things would never be the same again. As a matter of fact he would no
longer to able to participate in gossips and chit-chat with colleagues. He explains his new role as
director as demoralizing. “At first I was very harsh, making statement like you can either work my
way or take the highway to home. In all this I was forgetting that my friends and colleagues were
also in transition”. He admitted that his style alienated about everyone with whom he worked.
Mr. Imran was promoted to technical manager from being a junior programmer. He talks about the
uncertainty he felt: “It was challenging to be suddenly giving orders to your peers, when just the
day before you were one of them. You always try to be careful not to offend anyone. It’s really
strange when you walk into a room and suddenly the whole conversation changes. People don’t
want to be open when you are a boss”.
Mr. Ibrahim is promoted as the president of Adamjee Insurance Company. He started as a customer
relation officer in the company and then left behind his colleagues in number of promotions to the
present position. It is his quick rise which created problems. He says “colleagues would say
different things and only God knows what they talked about behind my back.”
These are some issues which need to be solved. At this condition,
Solution:
Q.1: What will you suggest for these three persons? What leadership style they should adopt for the
smooth transition. Please explain in your own wards with valid reasons and points. (Marks: 15)
Answer:
Adopting a specific leadership style requires vigorous and in-depth initial analysis of the
subordinates under command. It is very important to choose style incongruence with the
atmosphere and nature of the subordinates.
Mr.Fahad’s example suggests that he can adopt participative and supportive style. Most of the
subordinates now are his friends, so he can achieve goals more effectively and efficiently if he uses
participative and supportive styles. He should avoid directive and autocrative approach, which has
alienated him.
In case of Mr. Imran, the employees are not open to communicate their new boss, rather they
hesitate. Here it is very important for Mr.Imran to implement participative/Democratic style of
leadership with achievement-oriented style. He must take all on board while making any decision
so that they can feel themselves part of the organization.
Mr.Ibrahim quotation suggests that his subordinates are hard-to-handle and are involved in back
biting. He needs to adopt autocrative style to deal with them. He is required to deal them
autocratively to keep them on track.
Q.2: Explain the advantages and disadvantages associated with promoting internally to a leadership
position. (Marks: 15)
Answer:
Advantages:
Source of motivation
Less risky and less costly
Familiarity with organizational culture
In depth understanding of strengths and weaknesses of organization
Know how of organizational issues
Less time consuming
Rapport with employees
Internal promotion vacant other post to fill
Disadvantages:
De-motivation within existing staff
New leadership acceptance issues
Coworkers may resent promotion
Small pool of candidates to consider
Internal promoter may lack the required skills and experience
Mr. Fahad, Imran and Ibrahim were promoted within their organizations into management
positions. Each one of them found the transition as a challenge.
Mr. Fahad was promoted as director of catering for the Decent group of restaurants. With the
promotion, he realized that things would never be the same again. As a matter of fact he would no
longer to able to participate in gossips and chit-chat with colleagues. He explains his new role as
director as demoralizing. “At first I was very harsh, making statement like you can either work my
way or take the highway to home. In all this I was forgetting that my friends and colleagues were
also in transition”. He admitted that his style alienated about everyone with whom he worked.
Mr. Imran was promoted to technical manager from being a junior programmer. He talks about the
uncertainty he felt: “It was challenging to be suddenly giving orders to your peers, when just the
day before you were one of them. You always try to be careful not to offend anyone. It’s really
strange when you walk into a room and suddenly the whole conversation changes. People don’t
want to be open when you are a boss”.
Mr. Ibrahim is promoted as the president of Adamjee Insurance Company. He started as a customer
relation officer in the company and then left behind his colleagues in number of promotions to the
present position. It is his quick rise which created problems. He says “colleagues would say
different things and only God knows what they talked about behind my back.”
These are some issues which need to be solved. At this condition,
Solution:
Q.1: What will you suggest for these three persons? What leadership style they should adopt for the
smooth transition. Please explain in your own wards with valid reasons and points. (Marks: 15)
Answer:
Adopting a specific leadership style requires vigorous and in-depth initial analysis of the
subordinates under command. It is very important to choose style incongruence with the
atmosphere and nature of the subordinates.
Mr.Fahad’s example suggests that he can adopt participative and supportive style. Most of the
subordinates now are his friends, so he can achieve goals more effectively and efficiently if he uses
participative and supportive styles. He should avoid directive and autocrative approach, which has
alienated him.
In case of Mr. Imran, the employees are not open to communicate their new boss, rather they
hesitate. Here it is very important for Mr.Imran to implement participative/Democratic style of
leadership with achievement-oriented style. He must take all on board while making any decision
so that they can feel themselves part of the organization.
Mr.Ibrahim quotation suggests that his subordinates are hard-to-handle and are involved in back
biting. He needs to adopt autocrative style to deal with them. He is required to deal them
autocratively to keep them on track.
Q.2: Explain the advantages and disadvantages associated with promoting internally to a leadership
position. (Marks: 15)
Answer:
Advantages:
Source of motivation
Less risky and less costly
Familiarity with organizational culture
In depth understanding of strengths and weaknesses of organization
Know how of organizational issues
Less time consuming
Rapport with employees
Internal promotion vacant other post to fill
Disadvantages:
De-motivation within existing staff
New leadership acceptance issues
Coworkers may resent promotion
Small pool of candidates to consider
Internal promoter may lack the required skills and experience
MGT502 Assignment # 1 Solution
Solution
Assignment No.1
ORGANZIATIONAL BEHAVIOR MGT-502
Cultural differences
Culturally speaking west believes more on working and achieving goals individually.
They feel proud and happy for their achievements independently.
Mr. Ahmad is working as a “Manager” in a Multinational Software development
Company “Softronix” in USA. He uses to distribute all the tasks amongst the employees
individually. Everyone was happy to work for the goals attainment of the organization
and personal fulfillments. The organization was one of the leading profit generators in
USA. All the employees were happy working with the organization under Mr. Ahmad’s
supervision.
With this mind set and experience of USA, he was transferred to Japan, where emphasis
is given to working collectively. Collectivism is the main feature of eastern culture. Mr.
Ahmad adopted the same strategy in Japan and distributed the tasks individually. It was
the point where problems begin to create for the company. Gradually the productivity of
the employees decreased, resulting in low profits and difficulties in achieving the goals
effectively and efficiently. The employees were dissatisfied with the job and gradually
turnover increased.
The top management of “Softronix” decided to find out the causes of bad performance
despite of being a successful manager in USA.
Q.1: As CEO of the “Softronix” what reasons do you see for the poor performance in
Japan? (10)
Q.2: Keeping in view the GLOBE framework for assessing the cultures, what other
considerations should Mr. Ahmad look at in order to assess the two totally different
cultures? (10)
Answer Q.1:
As CEO of “Softronix”, I’ve come to conclusion that Mr. Ahmad is no doubt a good
manager but he missed few tricks to be successful in Japan. The following are the main
reasons for his poor performance in Japan
• Non-compliance to local culture.
• Not understanding the difference in culture.
• Applying wrong strategies
• Lack of cultural knowledge
• Lack of adaptation to the cultures differently.
(2 Marks for each point with elaboration)
Answer Q.2
As matter of fact the manger must have been given proper training and briefing before
leaving for Japan. Apart from Collectivism and Individualism he also has to consider the
following points:
• Power distance
• Uncertainty avoidance
• Assertiveness
• Future orientation
• Gender differentiation
• Power distance
• Humane orientation
(2 marks for each point with application to the scenario)
Assignment No.1
ORGANZIATIONAL BEHAVIOR MGT-502
Cultural differences
Culturally speaking west believes more on working and achieving goals individually.
They feel proud and happy for their achievements independently.
Mr. Ahmad is working as a “Manager” in a Multinational Software development
Company “Softronix” in USA. He uses to distribute all the tasks amongst the employees
individually. Everyone was happy to work for the goals attainment of the organization
and personal fulfillments. The organization was one of the leading profit generators in
USA. All the employees were happy working with the organization under Mr. Ahmad’s
supervision.
With this mind set and experience of USA, he was transferred to Japan, where emphasis
is given to working collectively. Collectivism is the main feature of eastern culture. Mr.
Ahmad adopted the same strategy in Japan and distributed the tasks individually. It was
the point where problems begin to create for the company. Gradually the productivity of
the employees decreased, resulting in low profits and difficulties in achieving the goals
effectively and efficiently. The employees were dissatisfied with the job and gradually
turnover increased.
The top management of “Softronix” decided to find out the causes of bad performance
despite of being a successful manager in USA.
Q.1: As CEO of the “Softronix” what reasons do you see for the poor performance in
Japan? (10)
Q.2: Keeping in view the GLOBE framework for assessing the cultures, what other
considerations should Mr. Ahmad look at in order to assess the two totally different
cultures? (10)
Answer Q.1:
As CEO of “Softronix”, I’ve come to conclusion that Mr. Ahmad is no doubt a good
manager but he missed few tricks to be successful in Japan. The following are the main
reasons for his poor performance in Japan
• Non-compliance to local culture.
• Not understanding the difference in culture.
• Applying wrong strategies
• Lack of cultural knowledge
• Lack of adaptation to the cultures differently.
(2 Marks for each point with elaboration)
Answer Q.2
As matter of fact the manger must have been given proper training and briefing before
leaving for Japan. Apart from Collectivism and Individualism he also has to consider the
following points:
• Power distance
• Uncertainty avoidance
• Assertiveness
• Future orientation
• Gender differentiation
• Power distance
• Humane orientation
(2 marks for each point with application to the scenario)
MGT503 Assignment # 2 Solution
SOLUTION FILE
ASSIGNMENT # 2
MGT503
LECTURE 18 TO 24
IMPORTANCE OF PLANNING
As the news of influenza pandemic broke out, it was witnessed that the government and
health officials rushed to purchasing medicines, conducting disaster drills and taking such
initiatives that would limit the spread of these diseases.
However, one survey indicated that 72% companies had not even begun to prepare for
the bird flu pandemic. Most of the business officials in United States stated that they had
nobody in charge of a plan that could identify the severity of the issue and its impact on
operations. On the contrary, Asian and particularly Southeast Asian countries had
planned for this situation, as they previously had to deal with the SARS outbreak in 2003
which brought the regions’ commerce to a standstill. But they were well prepared this
time. A survey of 80 corporate officials held by American Chamber of Commerce in
Hong Kong found that nearly every company had someone incharge of such catastrophic
situations and 60 percent stated that they had clearly mapped out plans that could be
implemented immediately in such a crisis situation. For instance, HSBC, a global bank
took steps to help and prepare its employees work from home and also prepared to divide
work among multiple sites. Even FedEx said it had prepared contingency plans down to
every district or market in Asia Pacific.
But what about those businesses that had not yet prepared for a potential outbreak? A
report on the outbreak of such a deadly flu reported. “In a world where the global supply
chain and real-time inventories determine almost everything we do, down to the food
available for purchase in our grocery stores, the importance of advanced planning can not
be overstated.”
1. What role do you think goals might play in a company’s planning for any possible
pandemic outbreak? List down some goals that you might will be important 10
2. What type of plans might companies need for this situation ( for instance short
term, long term or both) Explain why you think these plans are important in this
situation 10
3. Being a manager what planning tools would you recommend to deal with this
type of situation effectively? 10
KEY
1. Goals and measures required to achieve them must be outlined in phases to
deal with each progressive phase of a pandemic outbreak effectively. Some
of the key goals for such a situation would be:
• Efficient global pandemic inspection by special committee with
allocated budget
• Revisions in company policies on health care facilities, infrastructure
• Trainings for personal hygiene, quarantine initiatives
• Contingency plan for changes in staff availability, morale and core
functions.
2. Combination of short-term plans that lead progressively to long term
capacity development. This is because incase the disease does not transmit to
humans then it is not pandemic and would not require execution of longterm
plans. However, incase the disease is endemic in some or all regions, it
would require long-term plans.
3. Quantitative forecasting of Time series and Explanatory models would be
effective to develop forecast for the future.
Explanatory Model would help to identify major causal factors which, if
changed, can be used to predict future circumstances. This would help
managers to identify and take necessary action to change those factors
appropriately.
Time Series would be beneficial as it predicts broad environmental factors
and possibly some of the factors in the past leading to pandemic outbreaks
would resemble those in the future.
ASSIGNMENT # 2
MGT503
LECTURE 18 TO 24
IMPORTANCE OF PLANNING
As the news of influenza pandemic broke out, it was witnessed that the government and
health officials rushed to purchasing medicines, conducting disaster drills and taking such
initiatives that would limit the spread of these diseases.
However, one survey indicated that 72% companies had not even begun to prepare for
the bird flu pandemic. Most of the business officials in United States stated that they had
nobody in charge of a plan that could identify the severity of the issue and its impact on
operations. On the contrary, Asian and particularly Southeast Asian countries had
planned for this situation, as they previously had to deal with the SARS outbreak in 2003
which brought the regions’ commerce to a standstill. But they were well prepared this
time. A survey of 80 corporate officials held by American Chamber of Commerce in
Hong Kong found that nearly every company had someone incharge of such catastrophic
situations and 60 percent stated that they had clearly mapped out plans that could be
implemented immediately in such a crisis situation. For instance, HSBC, a global bank
took steps to help and prepare its employees work from home and also prepared to divide
work among multiple sites. Even FedEx said it had prepared contingency plans down to
every district or market in Asia Pacific.
But what about those businesses that had not yet prepared for a potential outbreak? A
report on the outbreak of such a deadly flu reported. “In a world where the global supply
chain and real-time inventories determine almost everything we do, down to the food
available for purchase in our grocery stores, the importance of advanced planning can not
be overstated.”
1. What role do you think goals might play in a company’s planning for any possible
pandemic outbreak? List down some goals that you might will be important 10
2. What type of plans might companies need for this situation ( for instance short
term, long term or both) Explain why you think these plans are important in this
situation 10
3. Being a manager what planning tools would you recommend to deal with this
type of situation effectively? 10
KEY
1. Goals and measures required to achieve them must be outlined in phases to
deal with each progressive phase of a pandemic outbreak effectively. Some
of the key goals for such a situation would be:
• Efficient global pandemic inspection by special committee with
allocated budget
• Revisions in company policies on health care facilities, infrastructure
• Trainings for personal hygiene, quarantine initiatives
• Contingency plan for changes in staff availability, morale and core
functions.
2. Combination of short-term plans that lead progressively to long term
capacity development. This is because incase the disease does not transmit to
humans then it is not pandemic and would not require execution of longterm
plans. However, incase the disease is endemic in some or all regions, it
would require long-term plans.
3. Quantitative forecasting of Time series and Explanatory models would be
effective to develop forecast for the future.
Explanatory Model would help to identify major causal factors which, if
changed, can be used to predict future circumstances. This would help
managers to identify and take necessary action to change those factors
appropriately.
Time Series would be beneficial as it predicts broad environmental factors
and possibly some of the factors in the past leading to pandemic outbreaks
would resemble those in the future.
MGT603 Assignment # 1 Solution
Solution File of
ASSIGNEMENT # 1
MGT503
Lecture 1 to 17
Subway is the worlds’ second largest restaurant chain in the world (behind no.1 Mc
Donalds) with 27,189 restaurants in 85 countries including over 600 international stores.
Every year it adds more than 500 restaurants to the chain.
Many firms prefer customizing their products but subway requires each franchisee
regardless of location to include the same items. Local stores are allowed a mere 6 local
items on the menu. Ingredients such as meat, cheese and bread are standardized.
Exceptions are made only in the case of strict cultural or religious requirements. For
example many Subway franchises in India do not offer beef sandwiches while those in
Muslim countries don’t offer pork.
Although these restrictions might seem harsh on the business but Subway is ahead of its
competitors in encouraging and supporting international franchises. For example, the
company’s website features investment information in French, German and Spanish in
addition to English.
Subways’ internal development agents assist the company and internal investors in
developing stores in a certain geographic location. These efforts and others ensure that
Subway does not lose touch with its local markets. The firm has developed a winning
internal strategy: combining standardization and customization.
1. How does Subway’s decision to enter foreign markets through franchising help it
to develop its business? What are some of the potential problems with this
choice?
2. How do the religious & cultural factors affect the working of subway in its
franchises located in over 85 countries?
3. While expanding on the international level what are the various management
challenges which subway has to face, including challenges in POLCA
KEY
1. Advantages & disadvantages of choice of an alternative:
• Successfully managing diversity issues helps the business grow
• Combining standardization & customization in each franchise gives it a
competitive edge
• Decision-making rests with the franchisors thereby creating hindrance in control
of franchisee
• Issues in implementing and monitoring terms & conditions across all
franchisees
• Brand management ability of franchisee
2. Impact of Cultural, Religious Differences (Mega environmental issues)
• Training staff to ensure blend of franchisors’ organizational culture with local
cultures
• Implementation of policies and rules keeping in mind the cultural & religious
differences
• Menu is standardized and same regardless of the location. Exceptions are
made only in case of strict cultural and religious requirement. Like they don’t
offer beef in India and pork meat in Muslim countries.
3. Challenges in POLCA
• Planning: Determining how to achieve overall organizational goals
through international franchise stores. Formulating the action plans to
implement the winning strategy which is the blend of standardization and
customization.
• Organizing: Resource management, deciding where decisions will be
made.
• Leading: Balancing how to inspire and motivate workers in different
geographical locations with different preferences.
• Controlling: Monitoring progress towards achieving goals and taking
corrective actions.
• Assurance: Ensuring prior management support and POLC functions are
in place. Ensure the successful implementation of the winning strategy
which is a combination of standardization and customization.
ASSIGNEMENT # 1
MGT503
Lecture 1 to 17
Subway is the worlds’ second largest restaurant chain in the world (behind no.1 Mc
Donalds) with 27,189 restaurants in 85 countries including over 600 international stores.
Every year it adds more than 500 restaurants to the chain.
Many firms prefer customizing their products but subway requires each franchisee
regardless of location to include the same items. Local stores are allowed a mere 6 local
items on the menu. Ingredients such as meat, cheese and bread are standardized.
Exceptions are made only in the case of strict cultural or religious requirements. For
example many Subway franchises in India do not offer beef sandwiches while those in
Muslim countries don’t offer pork.
Although these restrictions might seem harsh on the business but Subway is ahead of its
competitors in encouraging and supporting international franchises. For example, the
company’s website features investment information in French, German and Spanish in
addition to English.
Subways’ internal development agents assist the company and internal investors in
developing stores in a certain geographic location. These efforts and others ensure that
Subway does not lose touch with its local markets. The firm has developed a winning
internal strategy: combining standardization and customization.
1. How does Subway’s decision to enter foreign markets through franchising help it
to develop its business? What are some of the potential problems with this
choice?
2. How do the religious & cultural factors affect the working of subway in its
franchises located in over 85 countries?
3. While expanding on the international level what are the various management
challenges which subway has to face, including challenges in POLCA
KEY
1. Advantages & disadvantages of choice of an alternative:
• Successfully managing diversity issues helps the business grow
• Combining standardization & customization in each franchise gives it a
competitive edge
• Decision-making rests with the franchisors thereby creating hindrance in control
of franchisee
• Issues in implementing and monitoring terms & conditions across all
franchisees
• Brand management ability of franchisee
2. Impact of Cultural, Religious Differences (Mega environmental issues)
• Training staff to ensure blend of franchisors’ organizational culture with local
cultures
• Implementation of policies and rules keeping in mind the cultural & religious
differences
• Menu is standardized and same regardless of the location. Exceptions are
made only in case of strict cultural and religious requirement. Like they don’t
offer beef in India and pork meat in Muslim countries.
3. Challenges in POLCA
• Planning: Determining how to achieve overall organizational goals
through international franchise stores. Formulating the action plans to
implement the winning strategy which is the blend of standardization and
customization.
• Organizing: Resource management, deciding where decisions will be
made.
• Leading: Balancing how to inspire and motivate workers in different
geographical locations with different preferences.
• Controlling: Monitoring progress towards achieving goals and taking
corrective actions.
• Assurance: Ensuring prior management support and POLC functions are
in place. Ensure the successful implementation of the winning strategy
which is a combination of standardization and customization.
Important Question For Finance Intership Report
Question: If I have already completed my Internship but could not pass the internship report/course in the previous semester, am I required to do internship again?
Answer: Your internship will be acceptable IF your Internship Completion Certificate & Evaluation Form are accepted by the Documents Evaluation Committee previously. In that case you are required to complete the course work only (internship report and presentation & viva voce).
Question: What are the requirements of an internship program?
Answer: Internship must be done according to the mentioned requirements: • In between 6-8 weeks internship duration in an organization • The organization must be recognized/ registered having proper departmentalization • Preferably according to area of specialization • Must be done during regular working hours of the organization
Question: May I submit the same internship report as submitted by me in current semester if I enroll the same course in next semester?
Answer: Yes, you may submit the same internship report in next semester if you had been passed in written work in previous semester. In such case, you are required to upload the same evaluated report on course VULMS against relevant assignment within due date. However, it is advised to submit the updated report in accordance with the latest format and instructions.
Question: What is the mode of presentation & viva voce for overseas students?
Answer: The presentation & viva voce of overseas students will be arranged via Web Cam Conferencing.
Question: What are the Evaluation Criteria of the course?
Answer: Evaluation of the course FINI619: Internship Report is based on pass/fail criteria. Marks have NOT been allocated to any submission or activity and no grade point of this course will be added to the CGPA. However, as it is a compulsory course, therefore, it is necessary to pass this course to fulfill the requirements of the degree program.
Question: What are the criteria for passing the written work?
Answer: The criteria for passing the written work are as follows: • Following the specified format, guidelines and instructions as uploaded on the VULMS as well as given by the Instructor • Providing relevant and accurate information • Providing complete and pertinent analysis of the data collected • Fulfilling justified requirements of internship report
Question: What are the criteria for passing the presentation & viva voce?
Answer: The evaluation of presentation & viva voce will be based on the following: • Defense of the written work • Power Point Slides (contents, formatting etc.) • Presentation and communication skills
Question: Have I selected the correct course option for myself?
Answer: We have divided our students into two categories i.e. On Job Students and Regular students (who are not on job) On Job Students: are required to select the course "Final Project" Regular Students: are required to select the course "Internship Report".
Question: If I have selected a wrong option then what am I supposed to do?
Answer: If you have mistakenly selected the wrong option, change your course immediately by sending an e-mail at course_selection@vu.edu.pk.
Question: Is Internship compulsory for all students?
Answer: Yes, Internship is compulsory for all students, although it is a non credit activity.
Question: What is the objective of doing internship?
Answer: Internship helps students in developing the skills to apply theoretical concepts onto practical work situations. Moreover, it provides an opportunity to test their aptitude in a particular field prior to starting a job on permanent basis.
Question: How many credit hours this course has?
Answer: This course carries 3 credit hours.
Question: What is the duration required for internship?
Answer: The acceptable duration for internship is 6-8 weeks.
Question: Is it necessary that Internship should be according to my area of specialization?
Answer: Yes, it is necessary that you must do your internship according to your area of specialization.
Question: If I have already completed my Internship, am I required to do it again?
Answer: As per rule, your internship will be considered valid if it fulfills the following requirements: • It is done after 3rd semester. • It is done after selection of area of specialization • It covers the time span of 6-8 weeks • Relevant to area of specialization
Question: How can I get the Internship Reference Letter (IRL)?
Answer: Once you find the organization willing to offer you internship, you may send the request for the issuance of Internship Reference Letter (IRL), only if it is required by the organization. You are required to download the Request Form for the issuance of IRL, fill in the required information and send it to your course instructor at Fini619@vu.edu.pk. Make sure to provide accurate information against ALL the required fields as per instructions because incomplete and/or incorrect request forms will NOT be processed. The Request Form for the issuance of IRL is available in Announcement as well as in the Downloads section of the course VULMS.
Question: Can the internship reference letter be issued after the due date mentioned in semester calendar?
Answer: The internship reference letters be issued after the due date as per semester calendar. However, in such a case the student may not be able to meet the next deadline given for submission of internship completion certificate and evaluation form as well as internship report. Thus the students will be required to enroll the course (fini619) in next semester for the submission of internship completion certificate, evaluation form and internship report only. Their internship program will be accepted subject to the acceptance of the relevant above mentioned documents by the Documents Evaluation Committee.
Question: What is the purpose of internship Evaluation Form? How is it distinguished from internship certificate?
Answer: Evaluation form reflects the feedback of the internship supervisor about your performance during the internship period. You may download it from VULMS; take a print of it and get it filled by the internship supervisor in the organization. The completed evaluation form is required to be dispatched directly to VU by the internship supervisor, duly signed and stamped, in a sealed envelope. Internship certificate is a separate document that the organization (where you do the internship) awards you at the completion of the internship period. It is evidence that you have done the internship with the particular organization.
Question: What is a Job Leaving Certificate?
Answer: It is a certificate to be issued, duly signed and stamped by your previous employer, stating that you have left the organization w.e.f. the mentioned date.
Question: What information a Job Leaving Certificate must include?
Answer: The Job leaving certificate must include the following information: • It must be on original letter head of the organization. • The issuance date of the letter must be mentioned • Your date of leaving the organization • Last position held. • Signed and stamped by the last employer/person authorized • Name and designation of the person issuing the letter
Question: Who is required to provide a Job Leaving Certificate?
Answer: Only those students are required to provide their Job Leaving Certificates who were on job and had submitted their Job Confirmation Letter in the previous semester. Now they have left their jobs and are required to do internship.
Question: What is Internship Completion Certificate?
Answer: It is a certificate to be issued, duly signed and stamped by the organization’s authority, stating that you have completed your internship in the organization.
Question: What information an Internship Completion Certificate must include?
Answer: The Internship Completion Certificate must include following information: • It must be on original letter head of the organization. • The issuance date of the letter must be mentioned • Your date of joining and completion of internship in the organization • Signed and stamped by the authorized person. • Name and designation of the person issuing the letter
Question: At what address should I dispatch my Internship Completion Certificate?
Answer: You are required to send us your Internship Completion Certificate at the address; Instructor Fini619, Department of Management Sciences, Virtual University of Pakistan, M.A. Jinnah campus, Defence road off Raiwind road, Lahore. UAN:(042 111-880-880
Question: What information should be mentioned on the envelope?
Answer: You must provide following information on the envelope so that your letter reaches the right person: • Your name and VU ID • Semester
Question: How can an overseas student submit his/her internship completion certificate?
Answer: Overseas student’s internship completion certificate is required to be submitted in soft copy (scanned) sent directly at the course ID (fini619@vu.edu.pk) from the official e-mail ID of the current employer or the authorized person.
Question: Shall I get any credit of Internship Completion Certificate?
Answer: You will Not be given any credit for providing Internship Completion Certificate.
Question: What if I fail to submit a valid internship certificate as per due date?
Answer: If you do not submit a valid internship completion certificate as per due date, your presentation shall NOT be called in current semester; thus your result will be declared as F (Absent) and eventually you will have to re-enroll this course in next semester.
Question: What kind of organization should I choose for internship?
Answer: You must select a recognized and registered organization for internship having proper structure i.e. proper division of departments and operations etc. You can select any bank, business firm or any type of organization in which you can utilize your management skills according to your area of specialization.
Question: What should be considered while selecting an organization for internship?
Answer: It would be better to select an organization where you could learn something related to your area of specialization. This eventually will help you in learning and especially while writing the internship report
Question: Will I search the organization for Internship myself, or university will provide any assistance in this regard?
Answer: You are required to select the organization yourself; University will only provide the reference letter to you in the name of concerned person in the organization.
Question: When will the Internship program start?
Answer: You can start your Internship program any time during the semester but you must complete it before the deadlines displayed on semester calendar uploaded on VULMS. It is advised to start searching for internship immediately after commencement of your semester so that you can complete internship and submit your written work before the due date.
Question: What if I have failed the written work (internship report) in current semester?
Answer: You are required to re-enroll this course in next semester and re-submit the written work (internship report) after making improvements according to the Instructor’s comments on the evaluated and uploaded file.
Question: Should I do internship again in next semester after failure in the current course?
Answer: No, you are NOT required to do internship again unless your internship program has been rejected for any reason.
Question: What will be the format of internship report?
Answer: The format of Internship report is uploaded on VULMS of FINI619.
Question: Will any sample internship report be provided to us?
Answer: No. Sample Internship report will not be provided to the students. You are required to follow the format uploaded on VULMS to write your Internship report.
Question: Can you specify the length of the internship report?
Answer: An internship report should consist of at least 8,000-10,000 words.
Question: How can I count the number of words of my internship report in a Word Document?
Answer: Select Properties from menu, in Statistics you can see the number of words your file has.
Question: Can I submit internship report, which has already been submitted by another student?
Answer: No, you cannot submit any Internship report which has already been submitted by anyone else. If you do so, your internship report will be rejected and your result will be declared as ‘Fail’.
Question: What if two or more students get internship in the same organization at a same time?
Answer: It does not matter. Two or more than two students can simultaneously do internship in the same organization.
Question: What if more than one student doing internship at the same time in the same organization jointly write internship report?
Answer: Such reports will be declared copied and hence will be rejected. However, in such cases, every student will be expected to produce his/her own work and make sure that reports are not the same/identical.
Question: Can I provide the material copied from websites, books, journals or any other sources?
Answer: No, you cannot provide copied material from any source. Copied work will be rejected without any consideration and your result will be declared as ‘Fail’.
Question: What is plagiarism?
Answer: Plagiarism is a crime against intellectual property. It means to provide other authors’ work by your own name which is against research ethics and comes under the act of plagiarism. The university reserves the right to cancel the degree of such students even if it is found out afterwards.
Question: When and where am I required to submit my Internship report?
Answer: You are required to submit your Internship report at the completion of your internship. You are required to submit the soft copy of your internship report to your concerned Instructor through VULMS against the link of Assignment by the due date as per semester calendar
Question: Who will be called for presentation & viva voce?
Answer: Only those students will be called for presentation & viva voce who will pass the written work.
Question: Where would I be called for presentation & viva voce?
Answer: Students can be called at Lahore for presentation and viva voce. However, the students living in other cities will be scheduled at designated centers near to their residential addresses provided to the university.
Question: How would I get call for presentation & viva-voce?
Answer: Call for presentation & viva-voce will be sent at your VU e-mail ID. It will include date, time and venue of presentation & viva-voce.
Question: What is the confirmation e-mail for presentation & viva voce and what information should it include?
Answer: Confirmation e-mail for presentation & viva voce is required to be sent at the course e-mail ID (Fini619@vu.edu.pk) in response to the call for presentation & viva voce prior to the date of presentation. The purpose is to assure your presence in the presentation & viva voce on the scheduled date, time and venue. You are required to provide your postal address along with contact number in the confirmation e-mail for the receipt of job confirmation letter or any other document by post.
Question: How should I prepare myself for viva voce session?
Answer: Basically, you are required to defend your work during the viva voce session. Make sure that you should have: • Full grasp over your internship report • A sound knowledge of your area of specialization.
Question: What should be the medium of communication in presentation & viva voce?
Answer: Medium of communication should be English.
Question: How can I carry my data (PPTs) for presentation & viva-voce to the venue of presentation?
Answer: You are required to bring your PPTs in the USB/Flash drive. You are also required to upload your PPTs on VULMS against the relevant assignment as well as send the same to the concerned Instructor at fini619@vu.edu.pk.
Question: Is it possible to re-schedule the presentation & viva voce if I am unable to come on the scheduled date?
Answer: No. Presentation & viva voce shall NOT be re-scheduled in any case.
Question: What if I do not appear in the presentation & viva voce without prior intimation to the Instructor?
Answer: In this case, your result will be declared as F (Absent) and eventually you will have to re-enroll this course in next semester.
Question: Will there be any lectures of this course on Channels of VU?
Answer: Lectures of this course will neither be broadcasted on TV nor they will be available on CDs.
Question: Are there any handouts of this course?
Answer: No, there would NOT be any handouts, instead students will be required to follow the instructions/ guidelines, formats (templates), provided on VULMS.
Question: Will there be any MDBs for this course?
Answer: Yes, MDB will be opened for this course where you can send your course related queries there.
Answer: Your internship will be acceptable IF your Internship Completion Certificate & Evaluation Form are accepted by the Documents Evaluation Committee previously. In that case you are required to complete the course work only (internship report and presentation & viva voce).
Question: What are the requirements of an internship program?
Answer: Internship must be done according to the mentioned requirements: • In between 6-8 weeks internship duration in an organization • The organization must be recognized/ registered having proper departmentalization • Preferably according to area of specialization • Must be done during regular working hours of the organization
Question: May I submit the same internship report as submitted by me in current semester if I enroll the same course in next semester?
Answer: Yes, you may submit the same internship report in next semester if you had been passed in written work in previous semester. In such case, you are required to upload the same evaluated report on course VULMS against relevant assignment within due date. However, it is advised to submit the updated report in accordance with the latest format and instructions.
Question: What is the mode of presentation & viva voce for overseas students?
Answer: The presentation & viva voce of overseas students will be arranged via Web Cam Conferencing.
Question: What are the Evaluation Criteria of the course?
Answer: Evaluation of the course FINI619: Internship Report is based on pass/fail criteria. Marks have NOT been allocated to any submission or activity and no grade point of this course will be added to the CGPA. However, as it is a compulsory course, therefore, it is necessary to pass this course to fulfill the requirements of the degree program.
Question: What are the criteria for passing the written work?
Answer: The criteria for passing the written work are as follows: • Following the specified format, guidelines and instructions as uploaded on the VULMS as well as given by the Instructor • Providing relevant and accurate information • Providing complete and pertinent analysis of the data collected • Fulfilling justified requirements of internship report
Question: What are the criteria for passing the presentation & viva voce?
Answer: The evaluation of presentation & viva voce will be based on the following: • Defense of the written work • Power Point Slides (contents, formatting etc.) • Presentation and communication skills
Question: Have I selected the correct course option for myself?
Answer: We have divided our students into two categories i.e. On Job Students and Regular students (who are not on job) On Job Students: are required to select the course "Final Project" Regular Students: are required to select the course "Internship Report".
Question: If I have selected a wrong option then what am I supposed to do?
Answer: If you have mistakenly selected the wrong option, change your course immediately by sending an e-mail at course_selection@vu.edu.pk.
Question: Is Internship compulsory for all students?
Answer: Yes, Internship is compulsory for all students, although it is a non credit activity.
Question: What is the objective of doing internship?
Answer: Internship helps students in developing the skills to apply theoretical concepts onto practical work situations. Moreover, it provides an opportunity to test their aptitude in a particular field prior to starting a job on permanent basis.
Question: How many credit hours this course has?
Answer: This course carries 3 credit hours.
Question: What is the duration required for internship?
Answer: The acceptable duration for internship is 6-8 weeks.
Question: Is it necessary that Internship should be according to my area of specialization?
Answer: Yes, it is necessary that you must do your internship according to your area of specialization.
Question: If I have already completed my Internship, am I required to do it again?
Answer: As per rule, your internship will be considered valid if it fulfills the following requirements: • It is done after 3rd semester. • It is done after selection of area of specialization • It covers the time span of 6-8 weeks • Relevant to area of specialization
Question: How can I get the Internship Reference Letter (IRL)?
Answer: Once you find the organization willing to offer you internship, you may send the request for the issuance of Internship Reference Letter (IRL), only if it is required by the organization. You are required to download the Request Form for the issuance of IRL, fill in the required information and send it to your course instructor at Fini619@vu.edu.pk. Make sure to provide accurate information against ALL the required fields as per instructions because incomplete and/or incorrect request forms will NOT be processed. The Request Form for the issuance of IRL is available in Announcement as well as in the Downloads section of the course VULMS.
Question: Can the internship reference letter be issued after the due date mentioned in semester calendar?
Answer: The internship reference letters be issued after the due date as per semester calendar. However, in such a case the student may not be able to meet the next deadline given for submission of internship completion certificate and evaluation form as well as internship report. Thus the students will be required to enroll the course (fini619) in next semester for the submission of internship completion certificate, evaluation form and internship report only. Their internship program will be accepted subject to the acceptance of the relevant above mentioned documents by the Documents Evaluation Committee.
Question: What is the purpose of internship Evaluation Form? How is it distinguished from internship certificate?
Answer: Evaluation form reflects the feedback of the internship supervisor about your performance during the internship period. You may download it from VULMS; take a print of it and get it filled by the internship supervisor in the organization. The completed evaluation form is required to be dispatched directly to VU by the internship supervisor, duly signed and stamped, in a sealed envelope. Internship certificate is a separate document that the organization (where you do the internship) awards you at the completion of the internship period. It is evidence that you have done the internship with the particular organization.
Question: What is a Job Leaving Certificate?
Answer: It is a certificate to be issued, duly signed and stamped by your previous employer, stating that you have left the organization w.e.f. the mentioned date.
Question: What information a Job Leaving Certificate must include?
Answer: The Job leaving certificate must include the following information: • It must be on original letter head of the organization. • The issuance date of the letter must be mentioned • Your date of leaving the organization • Last position held. • Signed and stamped by the last employer/person authorized • Name and designation of the person issuing the letter
Question: Who is required to provide a Job Leaving Certificate?
Answer: Only those students are required to provide their Job Leaving Certificates who were on job and had submitted their Job Confirmation Letter in the previous semester. Now they have left their jobs and are required to do internship.
Question: What is Internship Completion Certificate?
Answer: It is a certificate to be issued, duly signed and stamped by the organization’s authority, stating that you have completed your internship in the organization.
Question: What information an Internship Completion Certificate must include?
Answer: The Internship Completion Certificate must include following information: • It must be on original letter head of the organization. • The issuance date of the letter must be mentioned • Your date of joining and completion of internship in the organization • Signed and stamped by the authorized person. • Name and designation of the person issuing the letter
Question: At what address should I dispatch my Internship Completion Certificate?
Answer: You are required to send us your Internship Completion Certificate at the address; Instructor Fini619, Department of Management Sciences, Virtual University of Pakistan, M.A. Jinnah campus, Defence road off Raiwind road, Lahore. UAN:(042 111-880-880
Question: What information should be mentioned on the envelope?
Answer: You must provide following information on the envelope so that your letter reaches the right person: • Your name and VU ID • Semester
Question: How can an overseas student submit his/her internship completion certificate?
Answer: Overseas student’s internship completion certificate is required to be submitted in soft copy (scanned) sent directly at the course ID (fini619@vu.edu.pk) from the official e-mail ID of the current employer or the authorized person.
Question: Shall I get any credit of Internship Completion Certificate?
Answer: You will Not be given any credit for providing Internship Completion Certificate.
Question: What if I fail to submit a valid internship certificate as per due date?
Answer: If you do not submit a valid internship completion certificate as per due date, your presentation shall NOT be called in current semester; thus your result will be declared as F (Absent) and eventually you will have to re-enroll this course in next semester.
Question: What kind of organization should I choose for internship?
Answer: You must select a recognized and registered organization for internship having proper structure i.e. proper division of departments and operations etc. You can select any bank, business firm or any type of organization in which you can utilize your management skills according to your area of specialization.
Question: What should be considered while selecting an organization for internship?
Answer: It would be better to select an organization where you could learn something related to your area of specialization. This eventually will help you in learning and especially while writing the internship report
Question: Will I search the organization for Internship myself, or university will provide any assistance in this regard?
Answer: You are required to select the organization yourself; University will only provide the reference letter to you in the name of concerned person in the organization.
Question: When will the Internship program start?
Answer: You can start your Internship program any time during the semester but you must complete it before the deadlines displayed on semester calendar uploaded on VULMS. It is advised to start searching for internship immediately after commencement of your semester so that you can complete internship and submit your written work before the due date.
Question: What if I have failed the written work (internship report) in current semester?
Answer: You are required to re-enroll this course in next semester and re-submit the written work (internship report) after making improvements according to the Instructor’s comments on the evaluated and uploaded file.
Question: Should I do internship again in next semester after failure in the current course?
Answer: No, you are NOT required to do internship again unless your internship program has been rejected for any reason.
Question: What will be the format of internship report?
Answer: The format of Internship report is uploaded on VULMS of FINI619.
Question: Will any sample internship report be provided to us?
Answer: No. Sample Internship report will not be provided to the students. You are required to follow the format uploaded on VULMS to write your Internship report.
Question: Can you specify the length of the internship report?
Answer: An internship report should consist of at least 8,000-10,000 words.
Question: How can I count the number of words of my internship report in a Word Document?
Answer: Select Properties from menu, in Statistics you can see the number of words your file has.
Question: Can I submit internship report, which has already been submitted by another student?
Answer: No, you cannot submit any Internship report which has already been submitted by anyone else. If you do so, your internship report will be rejected and your result will be declared as ‘Fail’.
Question: What if two or more students get internship in the same organization at a same time?
Answer: It does not matter. Two or more than two students can simultaneously do internship in the same organization.
Question: What if more than one student doing internship at the same time in the same organization jointly write internship report?
Answer: Such reports will be declared copied and hence will be rejected. However, in such cases, every student will be expected to produce his/her own work and make sure that reports are not the same/identical.
Question: Can I provide the material copied from websites, books, journals or any other sources?
Answer: No, you cannot provide copied material from any source. Copied work will be rejected without any consideration and your result will be declared as ‘Fail’.
Question: What is plagiarism?
Answer: Plagiarism is a crime against intellectual property. It means to provide other authors’ work by your own name which is against research ethics and comes under the act of plagiarism. The university reserves the right to cancel the degree of such students even if it is found out afterwards.
Question: When and where am I required to submit my Internship report?
Answer: You are required to submit your Internship report at the completion of your internship. You are required to submit the soft copy of your internship report to your concerned Instructor through VULMS against the link of Assignment by the due date as per semester calendar
Question: Who will be called for presentation & viva voce?
Answer: Only those students will be called for presentation & viva voce who will pass the written work.
Question: Where would I be called for presentation & viva voce?
Answer: Students can be called at Lahore for presentation and viva voce. However, the students living in other cities will be scheduled at designated centers near to their residential addresses provided to the university.
Question: How would I get call for presentation & viva-voce?
Answer: Call for presentation & viva-voce will be sent at your VU e-mail ID. It will include date, time and venue of presentation & viva-voce.
Question: What is the confirmation e-mail for presentation & viva voce and what information should it include?
Answer: Confirmation e-mail for presentation & viva voce is required to be sent at the course e-mail ID (Fini619@vu.edu.pk) in response to the call for presentation & viva voce prior to the date of presentation. The purpose is to assure your presence in the presentation & viva voce on the scheduled date, time and venue. You are required to provide your postal address along with contact number in the confirmation e-mail for the receipt of job confirmation letter or any other document by post.
Question: How should I prepare myself for viva voce session?
Answer: Basically, you are required to defend your work during the viva voce session. Make sure that you should have: • Full grasp over your internship report • A sound knowledge of your area of specialization.
Question: What should be the medium of communication in presentation & viva voce?
Answer: Medium of communication should be English.
Question: How can I carry my data (PPTs) for presentation & viva-voce to the venue of presentation?
Answer: You are required to bring your PPTs in the USB/Flash drive. You are also required to upload your PPTs on VULMS against the relevant assignment as well as send the same to the concerned Instructor at fini619@vu.edu.pk.
Question: Is it possible to re-schedule the presentation & viva voce if I am unable to come on the scheduled date?
Answer: No. Presentation & viva voce shall NOT be re-scheduled in any case.
Question: What if I do not appear in the presentation & viva voce without prior intimation to the Instructor?
Answer: In this case, your result will be declared as F (Absent) and eventually you will have to re-enroll this course in next semester.
Question: Will there be any lectures of this course on Channels of VU?
Answer: Lectures of this course will neither be broadcasted on TV nor they will be available on CDs.
Question: Are there any handouts of this course?
Answer: No, there would NOT be any handouts, instead students will be required to follow the instructions/ guidelines, formats (templates), provided on VULMS.
Question: Will there be any MDBs for this course?
Answer: Yes, MDB will be opened for this course where you can send your course related queries there.
Friday, August 27, 2010
MGMT628 GDB # 1 Solution
Change management process of brining permanent change and making it part of origination. They are such reason of this cause:-
Improve process performance and eliminate causes of mistakes in manufacturing and business processes by focusing on process outputs that are critically important to customers.
It is the process of managing change or incorporating the turbulent environment. Where organization adopt changes to its processes, structure, even sometime into their statements.
An infrastructure of management systems and permanent change agents is created to lead, deploy, and implement improvement projects
Improve process performance and eliminate causes of mistakes in manufacturing and business processes by focusing on process outputs that are critically important to customers.
It is the process of managing change or incorporating the turbulent environment. Where organization adopt changes to its processes, structure, even sometime into their statements.
An infrastructure of management systems and permanent change agents is created to lead, deploy, and implement improvement projects
Monday, August 23, 2010
MGT613 Assignment # 2 Solution
TENTATIVE SOLUTION OF ASSIGNMENT # 2
MGT613 (PRODUCTION & OPERATIONS MANAGEMENT)
Question:
HiStars a manufacturing company deals in manufacturing computers. Marketing,
Finance and Operations are three important departments of the Company. The
functions of these departments are interrelated and can’t carry without each other in
maintaining their production process.
1: Describe the importance of each department to the other.
2: Describe why it is necessary for an Operations Manager to have the knowledge of
Marketing and Finance.
SOLUTION
For Question # 1
Organizational goals are achieved more efficiently by the concerted efforts different
departments and functions. A business organization has three basic functions: finance,
marketing, and production/operations. These three functions perform different but
related activities necessary for the operations of the organization and each makes an
important contribution. For instance, unless production and marketing work together,
marketing may promote goods and services that production cannot profitably deliver, or
production may turn out goods or services for which there is no demand. Marketing
division is the front end of any because it gathers information about customer’s
requirement, creates demand forecast for the product or service in order to plan
production. The basic function of finance is allocation of resources, so, unless finance
and production people work closely, funds for expansion or new equipment may not be
available when needed.
For Question # 2
Operations Manager needs to have knowledge of budgeting, budgets are periodically
prepared to plan financial requirements. Budgets are sometimes adjusted and
performance relative to a budget must be evaluated. Moreover, evaluation of
alternative investments in plant and equipment requires inputs from both operations
and finance people.
Operations manager needs to have the information about demand of a specific product
in the market so that it can plan for the material to be purchased and work to be
scheduled. Business organizations compete with one another in a variety of ways like
price, quality, product or service differentiation, flexibility and time to perform certain
activities, so, it is important for an operations manager to have knowledge about all of
these areas in order to know “what do the customers want” .And “how we are going to
deliver that to them”.
MGT613 (PRODUCTION & OPERATIONS MANAGEMENT)
Question:
HiStars a manufacturing company deals in manufacturing computers. Marketing,
Finance and Operations are three important departments of the Company. The
functions of these departments are interrelated and can’t carry without each other in
maintaining their production process.
1: Describe the importance of each department to the other.
2: Describe why it is necessary for an Operations Manager to have the knowledge of
Marketing and Finance.
SOLUTION
For Question # 1
Organizational goals are achieved more efficiently by the concerted efforts different
departments and functions. A business organization has three basic functions: finance,
marketing, and production/operations. These three functions perform different but
related activities necessary for the operations of the organization and each makes an
important contribution. For instance, unless production and marketing work together,
marketing may promote goods and services that production cannot profitably deliver, or
production may turn out goods or services for which there is no demand. Marketing
division is the front end of any because it gathers information about customer’s
requirement, creates demand forecast for the product or service in order to plan
production. The basic function of finance is allocation of resources, so, unless finance
and production people work closely, funds for expansion or new equipment may not be
available when needed.
For Question # 2
Operations Manager needs to have knowledge of budgeting, budgets are periodically
prepared to plan financial requirements. Budgets are sometimes adjusted and
performance relative to a budget must be evaluated. Moreover, evaluation of
alternative investments in plant and equipment requires inputs from both operations
and finance people.
Operations manager needs to have the information about demand of a specific product
in the market so that it can plan for the material to be purchased and work to be
scheduled. Business organizations compete with one another in a variety of ways like
price, quality, product or service differentiation, flexibility and time to perform certain
activities, so, it is important for an operations manager to have knowledge about all of
these areas in order to know “what do the customers want” .And “how we are going to
deliver that to them”.
MGT613 Assignment # 1 Slution
SOLUTION OF ASSIGNMENT # 1
MGT613 PRODUCTION & OPERATIONS MANAGEMENT
Requirement:
Select a product of your own choice and:
1. Describe the major factors you will consider in the design strategy of
that specified product.
2. Being an Operations Manger what would be your major objective
while designing that specified product?
Solution
Ans. Q. 01
As an operations Manger I will consider the following major factors in the
design strategy of beauty soap.
· Cost:
I will emphasize on minimizing the cost of ingredients and raw material in
the process of making soap and using an easy recipe so that the cost should
not increase much.
· Quality:
Quality can not be compromised so I will focus on maintaining the quality
while keeping the cost minimum. My main focus will be that customers
should have a good feeling while using the soap, its fragrance, packing and
a good impact on skin by using the soap for a long time.
· Time-to-market:
I will ensure that the soap is readily available in the market so that
customers may find it every time when they visit to different stores to buy
it.
· Customer Satisfaction:
I will focus heavily on customer satisfaction so that I may sustain them. The
usage of the soap and its price along with quality will provide maximum
satisfaction to the customers.
· Competitive Advantage:
The formula, recipe, cost, price, and quality will make the soap a superior
one to the competitor’s product.
Ans. Q. 02
Following objectives will be considered while designing the soap:
· To satisfy the customer while making a reasonable profit
· To produce quality soap as quality is typically high on the list of
priorities in the design strategy.
· Design for Operations: I will take into account the capabilities of my
company in designing quality product.
MGT613 PRODUCTION & OPERATIONS MANAGEMENT
Requirement:
Select a product of your own choice and:
1. Describe the major factors you will consider in the design strategy of
that specified product.
2. Being an Operations Manger what would be your major objective
while designing that specified product?
Solution
Ans. Q. 01
As an operations Manger I will consider the following major factors in the
design strategy of beauty soap.
· Cost:
I will emphasize on minimizing the cost of ingredients and raw material in
the process of making soap and using an easy recipe so that the cost should
not increase much.
· Quality:
Quality can not be compromised so I will focus on maintaining the quality
while keeping the cost minimum. My main focus will be that customers
should have a good feeling while using the soap, its fragrance, packing and
a good impact on skin by using the soap for a long time.
· Time-to-market:
I will ensure that the soap is readily available in the market so that
customers may find it every time when they visit to different stores to buy
it.
· Customer Satisfaction:
I will focus heavily on customer satisfaction so that I may sustain them. The
usage of the soap and its price along with quality will provide maximum
satisfaction to the customers.
· Competitive Advantage:
The formula, recipe, cost, price, and quality will make the soap a superior
one to the competitor’s product.
Ans. Q. 02
Following objectives will be considered while designing the soap:
· To satisfy the customer while making a reasonable profit
· To produce quality soap as quality is typically high on the list of
priorities in the design strategy.
· Design for Operations: I will take into account the capabilities of my
company in designing quality product.
MGT603 Assignment # 2 Solution
ANALYSIS OF CASE STUDY
Here is a suggested solution of case study; however analysis of the case study is different
by different people.
Do you agree with Mr. Saleem that “such luxuries are for big companies, but not for
us”? Why or why not?
I would not agree. The implementation of new systems and procedures must be
considered from the viewpoint of the organization as a whole. Mr. Saleem has a narrow
view; he is evaluating the implementation by whether or not it will help him directly.
Large companies evolve from smaller ones and this transitional process always involves
change. Sooner or later, new ideas and concepts implemented to adapt business strategy
to a changing environment.
How should Mr. Mahmood handle the current situation?
He should include Mr. Saleem as soon as possible to the entrance of his work. It should
be Mr. Saleem believe that his ideas are very important and ultimately affect the final
decision on the application of these systems and processes.
Here is a suggested solution of case study; however analysis of the case study is different
by different people.
Do you agree with Mr. Saleem that “such luxuries are for big companies, but not for
us”? Why or why not?
I would not agree. The implementation of new systems and procedures must be
considered from the viewpoint of the organization as a whole. Mr. Saleem has a narrow
view; he is evaluating the implementation by whether or not it will help him directly.
Large companies evolve from smaller ones and this transitional process always involves
change. Sooner or later, new ideas and concepts implemented to adapt business strategy
to a changing environment.
How should Mr. Mahmood handle the current situation?
He should include Mr. Saleem as soon as possible to the entrance of his work. It should
be Mr. Saleem believe that his ideas are very important and ultimately affect the final
decision on the application of these systems and processes.
MGT603 Assignment # 1 Solution
SOLUTION OF ASSIGNMENT:
OPPORTUNITIES:
• VU can introduce more programs/ degrees at Master and MPhil level.
• Development in IT Sector can increases the accessibility of education.
• Video Conferencing and Voice calling with Students can reduce the communication gap.
• VU can increase revenue on the bases of large enrollments of students.
• VU can start providing DSL as students are using PTCL or Wateen.
• VU can start split degree programs.
• VU can expand its network by using the public-private partnership.
• VU can target the whole professional class.
• VU can arrange workshops trainings.
THREATS:
• Political instability is the major threat for the organization.
• Electricity shortage is a great threat for VU because its system is nothing without electricity.
• Lack of communication skills of students due to distance learning gives bad image of VU in the market.
• Status of private campuses is very poor.
• Rapid Change in Technology can be a threat in the future.
• Passing ratio of VU students is very poor.
NOTE:
The above is a general solution of this assignment as the solution of students may vary with each others because of having different experience and perception. Students will be remarked on their hard work and the effort which they did while making this assignment.
Good Luck!!!
OPPORTUNITIES:
• VU can introduce more programs/ degrees at Master and MPhil level.
• Development in IT Sector can increases the accessibility of education.
• Video Conferencing and Voice calling with Students can reduce the communication gap.
• VU can increase revenue on the bases of large enrollments of students.
• VU can start providing DSL as students are using PTCL or Wateen.
• VU can start split degree programs.
• VU can expand its network by using the public-private partnership.
• VU can target the whole professional class.
• VU can arrange workshops trainings.
THREATS:
• Political instability is the major threat for the organization.
• Electricity shortage is a great threat for VU because its system is nothing without electricity.
• Lack of communication skills of students due to distance learning gives bad image of VU in the market.
• Status of private campuses is very poor.
• Rapid Change in Technology can be a threat in the future.
• Passing ratio of VU students is very poor.
NOTE:
The above is a general solution of this assignment as the solution of students may vary with each others because of having different experience and perception. Students will be remarked on their hard work and the effort which they did while making this assignment.
Good Luck!!!
FIN630 Assignment # 2 Solution
Solution Assignment 02
FIN 630
Marks=10
What will be the relationship among coupon rate, current yield, and yield to
maturity for bonds selling at discounts from par?
Illustrate using the 8% (semiannual payment) coupon, 30-year maturity bond with
par value of Rs. 1,000 paying 60 semiannual payments of Rs 40 each assuming it is
selling at a yield to maturity of 10%.
Yield to maturity exceeds current yield, which exceeds coupon rate.
Take as an example the 8% coupon bond with a yield to maturity of 10% per year (5%
per half year). Its price is Rs. 810.71.
Po=Σ Ct/ (1+r)t + Par/(1+r)n
= Rs. 40 X Annuity factor (5%, 60) + Rs. 1,000 X PV factor (5%, 60)
= Rs. 757.17 + Rs. 53.54
= Rs. 810.71
and therefore its current yield is 80/810.71 = 0.0987 or 9.87%, which is higher than the
coupon rate but lower than the yield to maturity.
FIN 630
Marks=10
What will be the relationship among coupon rate, current yield, and yield to
maturity for bonds selling at discounts from par?
Illustrate using the 8% (semiannual payment) coupon, 30-year maturity bond with
par value of Rs. 1,000 paying 60 semiannual payments of Rs 40 each assuming it is
selling at a yield to maturity of 10%.
Yield to maturity exceeds current yield, which exceeds coupon rate.
Take as an example the 8% coupon bond with a yield to maturity of 10% per year (5%
per half year). Its price is Rs. 810.71.
Po=Σ Ct/ (1+r)t + Par/(1+r)n
= Rs. 40 X Annuity factor (5%, 60) + Rs. 1,000 X PV factor (5%, 60)
= Rs. 757.17 + Rs. 53.54
= Rs. 810.71
and therefore its current yield is 80/810.71 = 0.0987 or 9.87%, which is higher than the
coupon rate but lower than the yield to maturity.
FIN630 Assignment # 1 Solution
Solution Assignment 01
FIN 630
Marks=20
In the following graph at each highlighted point of the Elliott wave theory you are
required to:
1. State the stock trend, and
2. Suggest the possible decision of the investor regarding buying, selling or
retaining of shares. (Marks=10+10)
Solution
Each highlighted point carries 2 marks
Wave 1
1. The stock makes its initial move upwards (stock trend)
2. This is usually caused by a relatively small number of people that all of the sudden
(for a variety of reasons real or imagined) feel that the price of the stock is cheap so
it’s a perfect time to buy (investor’s decision)
3. This causes the price to rise.
Wave 2
1. At this point enough people who were in the original wave consider the stock
overvalued and take profits (retention/sell) (investor’s decision)
2. This causes the stock to go down (stock trend)
3. However, the stock will not make it to its previous lows before the stock is considered
a bargain again.
Wave 3
1. This is usually the longest and strongest wave.
2. The stock has caught the attention of the mass public. More people find out about the
stock and want to buy it. (investor’s decision)
3. This causes the stock’s price to go higher and higher. (stock trend)
4. This wave usually exceeds the high created at the end of wave 1.
Wave 4
1. People take profits because the stock is considered expensive again. (retention/sell)
(investor’s decision)
2. The stock will go down (stock trend)
3. This wave tends to be weak because there are usually more people that are still
bullish on the stock and are waiting to “buy on the dips”.
Wave 5
1. This is the point that most people get on the stock, and is most driven by hysteria.
2. People start coming up with ridiculous reasons to buy the stock.(investor’s decision)
3. This is when the stock becomes the most overpriced.
4. The stock will go up (stock trend)
5. Contrarians start shorting the stock which starts the ABC pattern.
FIN 630
Marks=20
In the following graph at each highlighted point of the Elliott wave theory you are
required to:
1. State the stock trend, and
2. Suggest the possible decision of the investor regarding buying, selling or
retaining of shares. (Marks=10+10)
Solution
Each highlighted point carries 2 marks
Wave 1
1. The stock makes its initial move upwards (stock trend)
2. This is usually caused by a relatively small number of people that all of the sudden
(for a variety of reasons real or imagined) feel that the price of the stock is cheap so
it’s a perfect time to buy (investor’s decision)
3. This causes the price to rise.
Wave 2
1. At this point enough people who were in the original wave consider the stock
overvalued and take profits (retention/sell) (investor’s decision)
2. This causes the stock to go down (stock trend)
3. However, the stock will not make it to its previous lows before the stock is considered
a bargain again.
Wave 3
1. This is usually the longest and strongest wave.
2. The stock has caught the attention of the mass public. More people find out about the
stock and want to buy it. (investor’s decision)
3. This causes the stock’s price to go higher and higher. (stock trend)
4. This wave usually exceeds the high created at the end of wave 1.
Wave 4
1. People take profits because the stock is considered expensive again. (retention/sell)
(investor’s decision)
2. The stock will go down (stock trend)
3. This wave tends to be weak because there are usually more people that are still
bullish on the stock and are waiting to “buy on the dips”.
Wave 5
1. This is the point that most people get on the stock, and is most driven by hysteria.
2. People start coming up with ridiculous reasons to buy the stock.(investor’s decision)
3. This is when the stock becomes the most overpriced.
4. The stock will go up (stock trend)
5. Contrarians start shorting the stock which starts the ABC pattern.
FIN623 Assignment # 2 Solution
Taxation Management (FIN623)
Assignment # 02
Solution:
Name of Taxpayer : Hamid
National Tax No : XXX
Tax year : 200A
Personal Status : Individual-Salaried
Residential Status : Resident
Computation of Taxable Income & Tax Liability
Salary Income: Rs.
Basic salary 120,000
House rent allowance (N-1) 57,000
Utilities allowance (N-2) 15,000
Conveyance allowance (N-3) 18,000 210,000
Taxable income 210,000
Computation of Tax Liability:
Tax on Rs. 210,000 @ 0.5% 1,050
Add: Tax on property income (N-4) 1,000
Total tax 2,050
Less: Tax deducted at sources from salary (1,000)
Net tax payable 1,050
Notes:
N-1 House rent allowance is totally taxable
N-2 Utilities allowance is totally taxable
N-3 Conveyance allowance is fully taxable
N-4 Income from property:
Rent chargeable to tax (Rs. 10,000 x 12) 120,000
Add: 1/10th of non-refundable deposit (500,000/10) 50,000
Total rent 170,000
Tax is computed as below:
Tax on Rs. 150,000 Nil
Tax on Rs. 20,000 @ 5% 1,000
1,000
Assignment # 02
Solution:
Name of Taxpayer : Hamid
National Tax No : XXX
Tax year : 200A
Personal Status : Individual-Salaried
Residential Status : Resident
Computation of Taxable Income & Tax Liability
Salary Income: Rs.
Basic salary 120,000
House rent allowance (N-1) 57,000
Utilities allowance (N-2) 15,000
Conveyance allowance (N-3) 18,000 210,000
Taxable income 210,000
Computation of Tax Liability:
Tax on Rs. 210,000 @ 0.5% 1,050
Add: Tax on property income (N-4) 1,000
Total tax 2,050
Less: Tax deducted at sources from salary (1,000)
Net tax payable 1,050
Notes:
N-1 House rent allowance is totally taxable
N-2 Utilities allowance is totally taxable
N-3 Conveyance allowance is fully taxable
N-4 Income from property:
Rent chargeable to tax (Rs. 10,000 x 12) 120,000
Add: 1/10th of non-refundable deposit (500,000/10) 50,000
Total rent 170,000
Tax is computed as below:
Tax on Rs. 150,000 Nil
Tax on Rs. 20,000 @ 5% 1,000
1,000
FIN623 Assignment # 1 Solution
Semester “Spring 2010”
“Taxation Management (FIN623)”
Assignment No. 01 Marks: 20
“LEGAL STATUS”
Question:
Identify the legal status of the following persons according to the Income Tax
Ordinance 2001;
a.
b.
c.
d.
e.
f.
g.
h.
i.
j.
Virtual University of Pakistan
Bank Al-Falah Ltd.
WAPDA Town Employees Housing Society
Mr. Akhter Ali Sheikh serving as a Manager in Chenab Textile Mills.
Mrs. Batool serving as a Director in ABC Private Ltd. Company
Haji Murad Trust Eye Hospital.
Ali Ibrahim’s an unregistered firm of Mr. Ali Ahmad and Mr. Ibrahim
Butt.
Mr. Vikaas Bhalla (a Hindu), his sons and Mr. Veer and Mr. Raj
Ansaar Barni Welfare Trust
Askari Islamic Bank Ltd.
(20 Marks)
Solution:
Sr. No.
Question
Answer
1
2
3
4
5
6
7
8
9
10
Virtual University of Pakistan
Bank Al-Falah Ltd.
WAPDA Town Employees Housing Society
Mr. Akhter Ali Sheikh serving as a Manager in Chenab
Textile Mills
Mrs. Batool serving as a Director in ABC Private Ltd.
Company
Haji Murad Trust Eye Hospital
Ali Ibrahim’s an unregistered firm of Mr. Ali Ahmad
and Mr. Ibrahim Butt
Mr. Vikaas Bhalla (a Hindu), his sons and Mr. Veer and
Mr. Raj
Ansaar Barni Welfare Trust
Askari Islamic Bank Ltd.
Company
Banking Company
Company
Individual
Individual
Company
Firm
A Hindu undivided family
Company
Banking Company
“Taxation Management (FIN623)”
Assignment No. 01 Marks: 20
“LEGAL STATUS”
Question:
Identify the legal status of the following persons according to the Income Tax
Ordinance 2001;
a.
b.
c.
d.
e.
f.
g.
h.
i.
j.
Virtual University of Pakistan
Bank Al-Falah Ltd.
WAPDA Town Employees Housing Society
Mr. Akhter Ali Sheikh serving as a Manager in Chenab Textile Mills.
Mrs. Batool serving as a Director in ABC Private Ltd. Company
Haji Murad Trust Eye Hospital.
Ali Ibrahim’s an unregistered firm of Mr. Ali Ahmad and Mr. Ibrahim
Butt.
Mr. Vikaas Bhalla (a Hindu), his sons and Mr. Veer and Mr. Raj
Ansaar Barni Welfare Trust
Askari Islamic Bank Ltd.
(20 Marks)
Solution:
Sr. No.
Question
Answer
1
2
3
4
5
6
7
8
9
10
Virtual University of Pakistan
Bank Al-Falah Ltd.
WAPDA Town Employees Housing Society
Mr. Akhter Ali Sheikh serving as a Manager in Chenab
Textile Mills
Mrs. Batool serving as a Director in ABC Private Ltd.
Company
Haji Murad Trust Eye Hospital
Ali Ibrahim’s an unregistered firm of Mr. Ali Ahmad
and Mr. Ibrahim Butt
Mr. Vikaas Bhalla (a Hindu), his sons and Mr. Veer and
Mr. Raj
Ansaar Barni Welfare Trust
Askari Islamic Bank Ltd.
Company
Banking Company
Company
Individual
Individual
Company
Firm
A Hindu undivided family
Company
Banking Company
FIN622 Assignment # 2 Solution
Corporate Finance “FIN622”
Assignment No.2
Solution:
A)
March
April
May
June
Forecast sales
Rs. 50000
Rs. 60000
Rs. 40000
Rs. 20000
Cash sales
12000
6000
Collections of A/c receivable
Lagged 1 Month
29400
19600
Lagged 2 Month
10500
12600
Total cash receipts
51900
38200
Less: Cash disbursements
60,000
45,000
Net cash flow
(8,100)
(6,800)
Add: Beginning cash
11,500
3400
Ending cash
3,400
(3,400)
Less: Minimum cash balance
3,000
3,000
Required finances
-----
6,400
Excess cash balance
400
-----
B)
May: We have an Excess amount of Rs. 400
June: We will require additional finance of Rs. 6,400 to meet our expenses.
Assignment No.2
Solution:
A)
March
April
May
June
Forecast sales
Rs. 50000
Rs. 60000
Rs. 40000
Rs. 20000
Cash sales
12000
6000
Collections of A/c receivable
Lagged 1 Month
29400
19600
Lagged 2 Month
10500
12600
Total cash receipts
51900
38200
Less: Cash disbursements
60,000
45,000
Net cash flow
(8,100)
(6,800)
Add: Beginning cash
11,500
3400
Ending cash
3,400
(3,400)
Less: Minimum cash balance
3,000
3,000
Required finances
-----
6,400
Excess cash balance
400
-----
B)
May: We have an Excess amount of Rs. 400
June: We will require additional finance of Rs. 6,400 to meet our expenses.
FIN622 Assignment # 1 Solution
Corporate Finance “Fin622”
Assignment No.1
Solution:
Part (A)
We know that for a project with equal annual receipts:
For project A:
PPA = I0 / Ct
= 57,000 / 20,000
= 2.85 Years
For project B:
Year
Cash inflow (CFi)
Cumulative cash inflow
1
Rs. 22,000
22,000
2
20,000
42,000
3
18,000
60,000
4
16,000
76,000
The pay back would be between second and third year.
The amount of money recovered the end of second year
= 42,000 (22,000 + 20,000)
Sum of money to be recovered at the end of third year
= 54,000 – 42,000
= 12,000
PPB = 2 + 12,000
18,000
= 2.67 Years
Part (B)
NPV for project A:
NPVA = − Io +PV (CF1) + PV (CF2) + PV (CF3) + PV (CF4) + ...+ ∞
= - 57,000 + (20,000 x PVIFA14%,4years)
= -57,000 + (20,000 x 2.914)
= -57,000 + 58280
= 1280
NPV for project B:
NPVB will be calculated as shown in following table.
Year
Cash inflows(CFi)
PVIF14%,i
Present value
1
Rs. 22,000
0.877
19294
2
20,000
0.769
15380
3
18,000
0.675
12150
4
16,000
0.592
9472
Present value of all cash inflows
56296
Less: Initial investment
54,000
Net present value (NPV)
2,296
Part (C)
Summarizing the information from above calculations in following table.
Approach
A
B
Pay back period
2.85
2.67
Net present value
1,280
2,296
The Project B should be selected.
Reasons:
• The project B possess a lesser payback period as compared to Project A.
• NPV for project B is greater than Project A.
Assignment No.1
Solution:
Part (A)
We know that for a project with equal annual receipts:
For project A:
PPA = I0 / Ct
= 57,000 / 20,000
= 2.85 Years
For project B:
Year
Cash inflow (CFi)
Cumulative cash inflow
1
Rs. 22,000
22,000
2
20,000
42,000
3
18,000
60,000
4
16,000
76,000
The pay back would be between second and third year.
The amount of money recovered the end of second year
= 42,000 (22,000 + 20,000)
Sum of money to be recovered at the end of third year
= 54,000 – 42,000
= 12,000
PPB = 2 + 12,000
18,000
= 2.67 Years
Part (B)
NPV for project A:
NPVA = − Io +PV (CF1) + PV (CF2) + PV (CF3) + PV (CF4) + ...+ ∞
= - 57,000 + (20,000 x PVIFA14%,4years)
= -57,000 + (20,000 x 2.914)
= -57,000 + 58280
= 1280
NPV for project B:
NPVB will be calculated as shown in following table.
Year
Cash inflows(CFi)
PVIF14%,i
Present value
1
Rs. 22,000
0.877
19294
2
20,000
0.769
15380
3
18,000
0.675
12150
4
16,000
0.592
9472
Present value of all cash inflows
56296
Less: Initial investment
54,000
Net present value (NPV)
2,296
Part (C)
Summarizing the information from above calculations in following table.
Approach
A
B
Pay back period
2.85
2.67
Net present value
1,280
2,296
The Project B should be selected.
Reasons:
• The project B possess a lesser payback period as compared to Project A.
• NPV for project B is greater than Project A.
MKT501 Assignment # 2 Solution
T ENTATIVE SOLUTION OF A SSIGNMENT # 02
M KT-501 (MARKETING MANAGEMENT )
Total Marks (3x10) = 30
Assignment Question
You are working as a Marketing Manager of a soft drink production & selling
company. Your firm is going to sale one segment of their products through
“personal selling”. In your opinion, what will be its expected contribution for
customers, business firms and Society individually?
Tentative Solution
Personal selling and customers
Personal selling can contribute in this case as under:
a. Through personal selling our company can build trust with customers and can
emphasis on establishing and maintaining long term relationships.
b. Sales people can also be able to demonstrate knowledge of their products and
services, especially while comparing competitive offerings of our firm.
c. Customers always expect salesmen to be knowledgeable about every aspect of
the product so if our company will be selling through personal selling, very
specialized & trained people will be there to inform customers about full range
of benefits associated with our products.
Personal selling and Business firm
Sales people are in direct contact with business firms so they can make the value able
contribution for the organization as under:
a. If our company’s staff will be in direct contact with business firms, (like
restaurants) they we will be able to maintain very up to date sales record of our
products which can be used as future prospect.
b. We will be able to rightly judge the customers perception about our product & it
will be really easy for us to determine the mind share of our products.
c. Since firms will be in close contact with our sales staff, so if decline of demand
will occur, sales persons will be able to research & judge the reasons behind this
decline so our company will may able to resolve those on immediate basis.
Personal selling and Society
Personal selling of our products can also contribute for society in following manners:
a. Our sales division will use personal selling as tool of searching potential
customers from society, through specialized sales persons, we will provide useful
information to potential consumers who then purchase our products from lower
cost outlets
b. During personal selling, our sales staff will come in direct contact with the people
so people will be able to judge our company’s culture from appearance, attitude
& dealing of the sales staff & company’s image will become very strong in the
minds of the people.
c. Since most of the end users of soft drink products are house hold ladies, so
during personal selling our sales staff can better trained them about how to
discard the empty & useless bottles without harming the cleanliness of their
surroundings.
M KT-501 (MARKETING MANAGEMENT )
Total Marks (3x10) = 30
Assignment Question
You are working as a Marketing Manager of a soft drink production & selling
company. Your firm is going to sale one segment of their products through
“personal selling”. In your opinion, what will be its expected contribution for
customers, business firms and Society individually?
Tentative Solution
Personal selling and customers
Personal selling can contribute in this case as under:
a. Through personal selling our company can build trust with customers and can
emphasis on establishing and maintaining long term relationships.
b. Sales people can also be able to demonstrate knowledge of their products and
services, especially while comparing competitive offerings of our firm.
c. Customers always expect salesmen to be knowledgeable about every aspect of
the product so if our company will be selling through personal selling, very
specialized & trained people will be there to inform customers about full range
of benefits associated with our products.
Personal selling and Business firm
Sales people are in direct contact with business firms so they can make the value able
contribution for the organization as under:
a. If our company’s staff will be in direct contact with business firms, (like
restaurants) they we will be able to maintain very up to date sales record of our
products which can be used as future prospect.
b. We will be able to rightly judge the customers perception about our product & it
will be really easy for us to determine the mind share of our products.
c. Since firms will be in close contact with our sales staff, so if decline of demand
will occur, sales persons will be able to research & judge the reasons behind this
decline so our company will may able to resolve those on immediate basis.
Personal selling and Society
Personal selling of our products can also contribute for society in following manners:
a. Our sales division will use personal selling as tool of searching potential
customers from society, through specialized sales persons, we will provide useful
information to potential consumers who then purchase our products from lower
cost outlets
b. During personal selling, our sales staff will come in direct contact with the people
so people will be able to judge our company’s culture from appearance, attitude
& dealing of the sales staff & company’s image will become very strong in the
minds of the people.
c. Since most of the end users of soft drink products are house hold ladies, so
during personal selling our sales staff can better trained them about how to
discard the empty & useless bottles without harming the cleanliness of their
surroundings.
MKT501 Assignment # 1 Solution
TENTATIVE SOLUTION FOR ASSIGNMENT‐01
COURSE: MARKETING MANAGEMENT (MKT‐501)
Requirement
Supposed you have been hired as a Marketing manager in a Food Supplement Company. Your company is planning to introduce Packed Branded Fresh Vegetables in the market. Selected target market for your company is Lahore. Now you are required to prepare an analyses based report based on all 4 Ps before launching this new product in the market shoing suggested strategic decisions for all 4 Ps.
Based on your marketing Mix analysis, how will you fix following decisions?
Product Decisions
Pricing Decisions
Placement Decisions
Promotion Decisions
Solution
(Student answer can vary but concept should clear)
As a marketing manager I’ll take the decision of market mix as follows.
Product Decision
1) I will introduce all the seasonal and non seasonal vegetables. There will be wide variety of vegetables.
2) I will never compromise on quality. Quality assurance will be my main emphasis.
3) I will introduce the brand of my company’s vegetables.
4) Packaging of my products will be attractive, appealing and transparent; clearly mentioning the expiry date.
5) There will be different sizes as per usage of vegetables e.g. ½ kg, 1kg and so on.
6) Hopefully customer will never return our products due to good quality but in case of any damage, rotten etc. we will change our vegetables.
Pricing Decision
1) I will use the skimming pricing strategy.
2) I will give the discounts at large quantities of vegetables.
3) I will use the psychological pricing strategy.
4) After analyzing one quarter of my business, I’ll set the segmented prices for different locations of Lahore.
5) I will give the allowances to our most loyal customers.
Placement Decision
1) We will directly purchase from producer.
2) Our vegetables will be available at all big areas of Lahore.
3) Our distribution team will deliver the vegetables at all of our outlets.
4) We will use our own transport; due to on time delivery.
5) We will not emphasis on stock/inventory but purchase the fresh vegetables from producer.
Promotion Decision
1) I will use billboards in Lahore, Radio and local news papers because our target market is only one city.
2) I will make the sales promotion team.
3) I will also focus on publicity.
4) I will only emphasis first 3 months for heavy promotion; after that our brand will be its own recognition and customers will purchase due to good word of mouth.
COURSE: MARKETING MANAGEMENT (MKT‐501)
Requirement
Supposed you have been hired as a Marketing manager in a Food Supplement Company. Your company is planning to introduce Packed Branded Fresh Vegetables in the market. Selected target market for your company is Lahore. Now you are required to prepare an analyses based report based on all 4 Ps before launching this new product in the market shoing suggested strategic decisions for all 4 Ps.
Based on your marketing Mix analysis, how will you fix following decisions?
Product Decisions
Pricing Decisions
Placement Decisions
Promotion Decisions
Solution
(Student answer can vary but concept should clear)
As a marketing manager I’ll take the decision of market mix as follows.
Product Decision
1) I will introduce all the seasonal and non seasonal vegetables. There will be wide variety of vegetables.
2) I will never compromise on quality. Quality assurance will be my main emphasis.
3) I will introduce the brand of my company’s vegetables.
4) Packaging of my products will be attractive, appealing and transparent; clearly mentioning the expiry date.
5) There will be different sizes as per usage of vegetables e.g. ½ kg, 1kg and so on.
6) Hopefully customer will never return our products due to good quality but in case of any damage, rotten etc. we will change our vegetables.
Pricing Decision
1) I will use the skimming pricing strategy.
2) I will give the discounts at large quantities of vegetables.
3) I will use the psychological pricing strategy.
4) After analyzing one quarter of my business, I’ll set the segmented prices for different locations of Lahore.
5) I will give the allowances to our most loyal customers.
Placement Decision
1) We will directly purchase from producer.
2) Our vegetables will be available at all big areas of Lahore.
3) Our distribution team will deliver the vegetables at all of our outlets.
4) We will use our own transport; due to on time delivery.
5) We will not emphasis on stock/inventory but purchase the fresh vegetables from producer.
Promotion Decision
1) I will use billboards in Lahore, Radio and local news papers because our target market is only one city.
2) I will make the sales promotion team.
3) I will also focus on publicity.
4) I will only emphasis first 3 months for heavy promotion; after that our brand will be its own recognition and customers will purchase due to good word of mouth.
MGT602 Assignment # 2 Solution
ENTREPRENEURSHIP (MGT602)
SEMESTER SPRING (2010)
ASSIGNMENT NO. 2
DUE DATE: JULY 01ST, 2010
TOTAL MARKS: 20
Solution of Case Study
A: It seems that Partaab Singh misappropriated and misused business resources because
of weak control or carelessness or blind trust of Mr Tanveer. Mr Tanveer could have
avoided this situation by exercising careful control over business transactions and
resources. It is rightly said that no one takes care for any ones interest in business so
according to this statement Tanveer could have assured transparency in business by being
vigilant.
B: Tanveer after the fact has two options:
1. If he wants to keep Partaab as his partner then he should ask Partaab to return
whatever loss he has caused to business by misusing the funds and warn him to be
careful and honest in future. In this case he must also be more vigilant in future.
This is not very desirable solution as in partnership after such type of issues it is
difficult to regain confidence and rebuild trust.
2. Second, which is considered more desirable, option is that Tanveer give option to
Partaab that either he buys his share or sell his share to him as in between option
seems less suitable.
SEMESTER SPRING (2010)
ASSIGNMENT NO. 2
DUE DATE: JULY 01ST, 2010
TOTAL MARKS: 20
Solution of Case Study
A: It seems that Partaab Singh misappropriated and misused business resources because
of weak control or carelessness or blind trust of Mr Tanveer. Mr Tanveer could have
avoided this situation by exercising careful control over business transactions and
resources. It is rightly said that no one takes care for any ones interest in business so
according to this statement Tanveer could have assured transparency in business by being
vigilant.
B: Tanveer after the fact has two options:
1. If he wants to keep Partaab as his partner then he should ask Partaab to return
whatever loss he has caused to business by misusing the funds and warn him to be
careful and honest in future. In this case he must also be more vigilant in future.
This is not very desirable solution as in partnership after such type of issues it is
difficult to regain confidence and rebuild trust.
2. Second, which is considered more desirable, option is that Tanveer give option to
Partaab that either he buys his share or sell his share to him as in between option
seems less suitable.
MGT602 Assignment # 1 Solution
Suggested Solution of 1st Assignment of MGT602:
Answer # 1:
No this is not an entrepreneurial venture rather it is traditional business
because an entrepreneurial venture is always growth oriented.
And the entrepreneur is not a true entrepreneur rather a traditional or artisan
entrepreneur.
Answer # 2:
No I don’t agree with the philosophy and he/she is doing good for his family
in the short run but at the cost of long run benefits of his/her family. As
without the pace of time a business does not grow so its survival becomes
difficult.
Answer # 3:
Owner is avoiding following problems/challenges:
a. Investment of time
b. Risk taking (Financial, Social and Psychological) Troubles he/she
may have to face in case of loss
c. Investment of more efforts required to manage the expanding business
Answer # 1:
No this is not an entrepreneurial venture rather it is traditional business
because an entrepreneurial venture is always growth oriented.
And the entrepreneur is not a true entrepreneur rather a traditional or artisan
entrepreneur.
Answer # 2:
No I don’t agree with the philosophy and he/she is doing good for his family
in the short run but at the cost of long run benefits of his/her family. As
without the pace of time a business does not grow so its survival becomes
difficult.
Answer # 3:
Owner is avoiding following problems/challenges:
a. Investment of time
b. Risk taking (Financial, Social and Psychological) Troubles he/she
may have to face in case of loss
c. Investment of more efforts required to manage the expanding business
MGT501 Assignment # 1 Solution
Question:
Loss of intellectual property is a debatable issue faced by organizations in developing Countries. Give any ten reasons of brain drain in Pakistan .What Policies HR consultants should develop for helping the organizations to cope with the brain drain issue?
Countries are facing brain drain problem. Specialists in their respective fields are migrating from developing countries to protect their future. Usually doctors, Engineers, software developer’s .scholars, research professionals are the part of Brain drain pool. This outflow of intellectual property has spelled murkiness for the development of the countries.
There are many reasons for the brain drain in Pakistan.
• When people go abroad for higher education do not return to their resident country
• Redundancy rate is high in Pakistan.
• Wage rates are very nominal in Pakistan
• Lack of inadequate training and developmental facilities for the students and professionals.
• Discrimination in employment at every level from recruitment to selection.
• Low quality of work life in Pakistan.
• Political instability and corruption
• Weak economic position.
• Industrial decline.
• Personal influence of spouse ,family and friends
(b)
What Policies and procedures HR consultants should develop for coping with the brain drain issue?
Brain drain is additional development challenge and coherent policies are needed to cope with the issue .Human resource consultant can assist the organizations for dealing with the dilemma of brain drain.
Accommodation of workers needs
Devise policies to have room for the needs of workers with the organizational goals. People have hierarchies of needs .The Hr consultant should plan the strategies to accommodate the physiological needs to self actualization needs of workers. It will keep the People motivated and develop the organization citizenship behavior.
Development of policies for ethical recruitment.
Recruitment process is not transparent. It is compelling reason for migration of Intellectual property .Hr professionals should make translucent recruitment system So that skilled people find compatible jobs and remain satisfied in their own country.
Design the compensation system to attract the intellectual people.
Hr policy makers should design the Wage rates system which should compensates the workers according to the qualification and experience. Intrinsic and extrinsic rewards should be the part of basic pay scale system
Propose the frame work for improving quality of work life
HR consultants should Shape the frame work by which employees can enhance their Personal lives through their work environment and experiences .High quality of
Work life will create the job satisfaction among the human resource.
Draw the skeleton for development and training needs of professionals
Hr consultants should arrange donors who should provide funds for the training and developmental needs of Professional’s .So they can fulfill their needs and strengthen their knowledge. They would be more satisfied and less likely to migrate.
Loss of intellectual property is a debatable issue faced by organizations in developing Countries. Give any ten reasons of brain drain in Pakistan .What Policies HR consultants should develop for helping the organizations to cope with the brain drain issue?
Countries are facing brain drain problem. Specialists in their respective fields are migrating from developing countries to protect their future. Usually doctors, Engineers, software developer’s .scholars, research professionals are the part of Brain drain pool. This outflow of intellectual property has spelled murkiness for the development of the countries.
There are many reasons for the brain drain in Pakistan.
• When people go abroad for higher education do not return to their resident country
• Redundancy rate is high in Pakistan.
• Wage rates are very nominal in Pakistan
• Lack of inadequate training and developmental facilities for the students and professionals.
• Discrimination in employment at every level from recruitment to selection.
• Low quality of work life in Pakistan.
• Political instability and corruption
• Weak economic position.
• Industrial decline.
• Personal influence of spouse ,family and friends
(b)
What Policies and procedures HR consultants should develop for coping with the brain drain issue?
Brain drain is additional development challenge and coherent policies are needed to cope with the issue .Human resource consultant can assist the organizations for dealing with the dilemma of brain drain.
Accommodation of workers needs
Devise policies to have room for the needs of workers with the organizational goals. People have hierarchies of needs .The Hr consultant should plan the strategies to accommodate the physiological needs to self actualization needs of workers. It will keep the People motivated and develop the organization citizenship behavior.
Development of policies for ethical recruitment.
Recruitment process is not transparent. It is compelling reason for migration of Intellectual property .Hr professionals should make translucent recruitment system So that skilled people find compatible jobs and remain satisfied in their own country.
Design the compensation system to attract the intellectual people.
Hr policy makers should design the Wage rates system which should compensates the workers according to the qualification and experience. Intrinsic and extrinsic rewards should be the part of basic pay scale system
Propose the frame work for improving quality of work life
HR consultants should Shape the frame work by which employees can enhance their Personal lives through their work environment and experiences .High quality of
Work life will create the job satisfaction among the human resource.
Draw the skeleton for development and training needs of professionals
Hr consultants should arrange donors who should provide funds for the training and developmental needs of Professional’s .So they can fulfill their needs and strengthen their knowledge. They would be more satisfied and less likely to migrate.
MGT501 Assignment # 2 Solution
A. Questionnaire for conducting job analysis.
Job analysis questionnaire
Personal data
Name of employee:
Division: ___________________
Employee ID:
Department: ___________________
Job of employee: ___________________
Telephone Number:
Immediate Supervisor's Name:
General duties of position
Minimum Education
Tick one box
F.A Bachelor's Degree
Master's Degree
Type of experience needed
2-3
4-5
WHO IS YOUR SUPERVISIOR
LIST THE REQUIRED SKILLS
Employee’s Signature: _______________
Date: _______________
B
JOB DESCRIPTION
C
Performance Evaluation
Satisfactory
S
1
Performance in this area meets job requirements
Good
G
2
Performance in this area meets all job requirements
Excellent
E
3
Performance in this area fully exceeds job requirements
Unsatisfactory
U
4
Performance fails to meet the minimum requirements of the job and employee deficiencies will require more attention and training
ATTRIBUTE TO BE EVALUATED
S
G
E
U
Punctuality
Quality of work
Quantity of work
Knowledge of job
Communication
Cooperation with others
Initiative and creativity
Judgment
Planning and organizing
Supervisory ability (if applicable)
Reliability and dependability
Behavior at work place
Evaluator Signature/Date: __________________________________________________
Authorized Unit Administrator Signature/Date __________________________________
Job analysis questionnaire
Personal data
Name of employee:
Division: ___________________
Employee ID:
Department: ___________________
Job of employee: ___________________
Telephone Number:
Immediate Supervisor's Name:
General duties of position
Minimum Education
Tick one box
F.A Bachelor's Degree
Master's Degree
Type of experience needed
2-3
4-5
WHO IS YOUR SUPERVISIOR
LIST THE REQUIRED SKILLS
Employee’s Signature: _______________
Date: _______________
B
JOB DESCRIPTION
C
Performance Evaluation
Satisfactory
S
1
Performance in this area meets job requirements
Good
G
2
Performance in this area meets all job requirements
Excellent
E
3
Performance in this area fully exceeds job requirements
Unsatisfactory
U
4
Performance fails to meet the minimum requirements of the job and employee deficiencies will require more attention and training
ATTRIBUTE TO BE EVALUATED
S
G
E
U
Punctuality
Quality of work
Quantity of work
Knowledge of job
Communication
Cooperation with others
Initiative and creativity
Judgment
Planning and organizing
Supervisory ability (if applicable)
Reliability and dependability
Behavior at work place
Evaluator Signature/Date: __________________________________________________
Authorized Unit Administrator Signature/Date __________________________________
MGT301 Assignemnt # 1 Solution
Q: You are the marketing manager of a company. You are going to introduce a new product in the market. You have to perform a marketing research in order to analyze the consumer demand. Explain any four methods by which you can collect the data necessary for conducting your research? Also explain the advantages associated with using these methods? (5*4 = 20 Marks)
Research Method = 1 Mark
Advantages = 4 Marks
The marketing manager can utilize various methods to collect information from its target market. Some of these methods are as follows:
1. Mail questionnaires are used to collect large amounts of information at a low cost.
Advantages:
The responses are gathered in a standardized way, so questionnaires are more objective, certainly more than interviews.
Generally it is relatively quick to collect information using a questionnaire. However in some situations they can take a long time not only to design but also to apply and analyze.
Potentially information can be collected from a large portion of a group. This potential is not often realized, as returns from questionnaires are usually low. However return rates can be dramatically improved if the questionnaire is delivered and responded to in class time.
2. Telephone interviewing is good method for collecting information quickly.
Advantages:
High speed
Saves cost
Callbacks
Can use computerized random digit dialing
Expanded geographic area coverage without increasing the cost
Use fewer but highly skilled interviewers
Reduced interviewer bias
Better access to hard-to-reach respondents through repeated callbacks
Use computer assisted telephone interviewing (CATI)
3. Personal interviewing (Individual or group interviewing).
A form of personal interviewing is "focus group interviewing". Focus-group interviewing consists of inviting six to ten people to gather for a few hours with a trained interviewer to talk about a product, service, or organization. The interviewer "focuses" the group discussion on important issues.
Advantages:
The opportunity for feedback
Probing complex questions
Length of interview
High completion rate
Visual aids
High participation rate
Observation of the non-verbal behavior
Non-literates can participate in study
Interviewer can prescreen respondent
4. Online (Internet) Research can consist of internet surveys or online focus groups. Many experts predict that online research will soon be the primary tool of marketing researchers.
Advantages:
Speed and cost effectiveness
Visual appeal and interactivity
Accurate real-time data capture
Callbacks
Personalized and flexible questioning
Respondent anonymity
Research Method = 1 Mark
Advantages = 4 Marks
The marketing manager can utilize various methods to collect information from its target market. Some of these methods are as follows:
1. Mail questionnaires are used to collect large amounts of information at a low cost.
Advantages:
The responses are gathered in a standardized way, so questionnaires are more objective, certainly more than interviews.
Generally it is relatively quick to collect information using a questionnaire. However in some situations they can take a long time not only to design but also to apply and analyze.
Potentially information can be collected from a large portion of a group. This potential is not often realized, as returns from questionnaires are usually low. However return rates can be dramatically improved if the questionnaire is delivered and responded to in class time.
2. Telephone interviewing is good method for collecting information quickly.
Advantages:
High speed
Saves cost
Callbacks
Can use computerized random digit dialing
Expanded geographic area coverage without increasing the cost
Use fewer but highly skilled interviewers
Reduced interviewer bias
Better access to hard-to-reach respondents through repeated callbacks
Use computer assisted telephone interviewing (CATI)
3. Personal interviewing (Individual or group interviewing).
A form of personal interviewing is "focus group interviewing". Focus-group interviewing consists of inviting six to ten people to gather for a few hours with a trained interviewer to talk about a product, service, or organization. The interviewer "focuses" the group discussion on important issues.
Advantages:
The opportunity for feedback
Probing complex questions
Length of interview
High completion rate
Visual aids
High participation rate
Observation of the non-verbal behavior
Non-literates can participate in study
Interviewer can prescreen respondent
4. Online (Internet) Research can consist of internet surveys or online focus groups. Many experts predict that online research will soon be the primary tool of marketing researchers.
Advantages:
Speed and cost effectiveness
Visual appeal and interactivity
Accurate real-time data capture
Callbacks
Personalized and flexible questioning
Respondent anonymity
CS507 Assignment # 3 Solution
Information System (CS507)
Spring 2010
Assignment No. 3
Due Date:
Your assignment must be uploaded/submitted before or on 20th May 2010.
Max Marks: 20
Uploading instructions:
Please view the Assignment Submission Process document provided to you by the Virtual University for uploading assignments.
The assignment should be in .doc format.
Save your assignment with your ID (e.g. bx020200786.doc).
The assignment submission through email is highly discouraged.
Rules for Marking:
It should be clear that your assignment will not get any credit if:
The assignment is submitted after due date.
The submitted assignment file is corrupted.
The assignment is copied.
The assignment material is directly copied from internet.
Note:
Your answer must follow the below given specifications. You will be assigned no marks if you do not follow these instructions.
Font style: "Times New Roman"
Font color: "Black"
Font size: "12"
Bold for heading only.
Font in Italic is not allowed at all.
Q. 1: How can you describe the factors which will ensure the successful implementation of SDLC? Explain at least three.
(Marks: 10)
Answer :( 3.33+3.33+3.33)
Management Support
Developers/system designers need to have the support of the management as much as possible since the management will dictate whether they need the product or not.
Technical and Business Expertise
There are regular programmers and there are really smart programmers who just know what to do even when the software’s objective is presented for the first time. These programmers know what SDLC model to use together with the languages or toolkits that need to be learn to ensure this program is a success. On the other hand, business expertise is also important in software development cycle since they will dictate the demand for particular software. Business expertise is also important in SDLC since they will determine whether the software will eventually be a factor in time and money saving.
Proper Documentation/ Deliverables for Maintenance
Granting the results of the software development is a success; it’s time to place them in all in papers. Success in building software will only be gauged once they are released to the pubic with ease. Although there will be problems, it’s up to the developers to maintain these programs until these are decommissioned. If worst comes to worst and it has to go back to the drawing board, documentation will tell the developers where they might have done it wrong.
Security
Security should be the number priority of any developers. The ability to handle information and protect them from attack will tell how professional the business is. It’s important to look for these defects before they are actually released to the public.
Q. 2: List down the pros and cons of Incremental Model? Also mention when to use the Incremental Model?
(Marks: 10)
Answer :( 3.33+3.33+3.33)
Incremental Model Pros
Working functionality is produced earlier – computation of value to cost ratio
Reduces risks of change in user requirements
Provides clients flexibility in decision making.
Risk management is incremental
Smaller scope for change in user requirements
Develop high-risk or major functions first
Each release delivers an operational product
Customer can respond to each build
Lowers initial delivery cost
Initial product delivery is faster
Customers get important functionality early
Risk of changing requirements is reduced
Incremental Model Cons
Larger picture cannot be seen until the entire system is built
Difficult to break down the total system at early stage of product development to determine reasonable increments
Requires good planning and design
Total cost of the complete system is not lower
When to use the Incremental Model
Need to reduces risks of change in user requirements and reduce program complexity.
Provides clients flexibility in decision making
A need to get basic functionality to the market early
On projects which have lengthy development schedules
Spring 2010
Assignment No. 3
Due Date:
Your assignment must be uploaded/submitted before or on 20th May 2010.
Max Marks: 20
Uploading instructions:
Please view the Assignment Submission Process document provided to you by the Virtual University for uploading assignments.
The assignment should be in .doc format.
Save your assignment with your ID (e.g. bx020200786.doc).
The assignment submission through email is highly discouraged.
Rules for Marking:
It should be clear that your assignment will not get any credit if:
The assignment is submitted after due date.
The submitted assignment file is corrupted.
The assignment is copied.
The assignment material is directly copied from internet.
Note:
Your answer must follow the below given specifications. You will be assigned no marks if you do not follow these instructions.
Font style: "Times New Roman"
Font color: "Black"
Font size: "12"
Bold for heading only.
Font in Italic is not allowed at all.
Q. 1: How can you describe the factors which will ensure the successful implementation of SDLC? Explain at least three.
(Marks: 10)
Answer :( 3.33+3.33+3.33)
Management Support
Developers/system designers need to have the support of the management as much as possible since the management will dictate whether they need the product or not.
Technical and Business Expertise
There are regular programmers and there are really smart programmers who just know what to do even when the software’s objective is presented for the first time. These programmers know what SDLC model to use together with the languages or toolkits that need to be learn to ensure this program is a success. On the other hand, business expertise is also important in software development cycle since they will dictate the demand for particular software. Business expertise is also important in SDLC since they will determine whether the software will eventually be a factor in time and money saving.
Proper Documentation/ Deliverables for Maintenance
Granting the results of the software development is a success; it’s time to place them in all in papers. Success in building software will only be gauged once they are released to the pubic with ease. Although there will be problems, it’s up to the developers to maintain these programs until these are decommissioned. If worst comes to worst and it has to go back to the drawing board, documentation will tell the developers where they might have done it wrong.
Security
Security should be the number priority of any developers. The ability to handle information and protect them from attack will tell how professional the business is. It’s important to look for these defects before they are actually released to the public.
Q. 2: List down the pros and cons of Incremental Model? Also mention when to use the Incremental Model?
(Marks: 10)
Answer :( 3.33+3.33+3.33)
Incremental Model Pros
Working functionality is produced earlier – computation of value to cost ratio
Reduces risks of change in user requirements
Provides clients flexibility in decision making.
Risk management is incremental
Smaller scope for change in user requirements
Develop high-risk or major functions first
Each release delivers an operational product
Customer can respond to each build
Lowers initial delivery cost
Initial product delivery is faster
Customers get important functionality early
Risk of changing requirements is reduced
Incremental Model Cons
Larger picture cannot be seen until the entire system is built
Difficult to break down the total system at early stage of product development to determine reasonable increments
Requires good planning and design
Total cost of the complete system is not lower
When to use the Incremental Model
Need to reduces risks of change in user requirements and reduce program complexity.
Provides clients flexibility in decision making
A need to get basic functionality to the market early
On projects which have lengthy development schedules
CS507 Assignment # 2 Solution
Information System (CS507)
Spring 2010
Assignment No. 2
Due Date:
Your assignment must be uploaded/submitted before or on 08th May 2010.
Max Marks: 20
Uploading instructions:
Please view the Assignment Submission Process document provided to you by the Virtual University for uploading assignments.
The assignment should be in .doc format.
Save your assignment with your ID (e.g. bx020200786.doc).
The assignment submission through email is highly discouraged.
Rules for Marking:
It should be clear that your assignment will not get any credit if:
The assignment is submitted after due date.
The submitted assignment file is corrupted.
The assignment is copied.
The assignment material is directly copied from internet.
Note:
Your answer must follow the below given specifications. You will be assigned no marks if you do not follow these instructions.
Font style: "Times New Roman"
Font color: "Black"
Font size: "12"
Bold for heading only.
Font in Italic is not allowed at all.
No formatting or bullets are allowed to use.
Q. 1: What is the role of CRM in challenging economy?
(Marks: 10)
Answer:
CRM in challenging economy?
In today’s economy organizations can’t rely on brute strength t s and tools. CRM is a technology that allows organizations to track and leverage every customer o maximizes the value of their customer relationships; rather, they need enabling technology interaction to maximize revenue opportunities and improve customer loyalty.
But CRM does much more than just track customer interactions. It also helps organizations optimize their operations by automating routine tasks and standardizing best practices. Ultimately, CRM allows organizations to better acquire, manage, serve, and extract value from their customers while improving operational efficiency something that is critical in today’s economy.
While there are surely many approaches being espoused in the market today, we believe there are five main strategies that companies can employ to survive and thrive during uncertain economic conditions:
1. Focus on existing customers
2. Maximize revenue opportunities
3. Do more with less
4. Reduce operational costs
5. Optimize existing IT assets
Q. 2 Why Many CRM initiatives, however, fail to deliver the expected benefits?
Marks (10)
Answer:
Many CRM initiatives, however, fail to deliver the expected benefits. This is largely due to the same set of issues:
Customer privacy is an important issue in CRM. CRM deals with large amounts of customer data through various touch points and communication channels. The individual firm is thus caught in an ethical dilemma – collecting as much information as possible but still respecting limits for personal privacy. . Poor quality customer data and information. CRM being primarily about information it is vital that this aspect is considered before the initiative commences.
Software issues: There are little standardized technologies and protocols for CRM implementation in the market. Vendors publish new versions of CRM software as frequently as they can thus adding to client’s expenses. CRM software requires highly integrated environment for high productivity, which is rarely available.
Business support was lacking - poor buy-in from the business was obtained or no buy-in from the business was sought. This resulted in little ownership within the business and therefore failed implementation or poor usage.
The planning had insufficient detail or depth - introducing CRM into an organization is a major initiative and if it is not planned adequately then it will fail. Usually the scale and nature of the operational change (as opposed to the systems change) was underestimated. It is easy to install a system. It is much harder to change people's work practices.
It was poorly implemented - which usually means that staff were not trained adequately and neither were the right changes put in place to introduce a new culture
The Executive had little customer/CRM understanding or involvement. Too often it was seen as a tactical issue and therefore insufficiently senior sponsorship is sought
Spring 2010
Assignment No. 2
Due Date:
Your assignment must be uploaded/submitted before or on 08th May 2010.
Max Marks: 20
Uploading instructions:
Please view the Assignment Submission Process document provided to you by the Virtual University for uploading assignments.
The assignment should be in .doc format.
Save your assignment with your ID (e.g. bx020200786.doc).
The assignment submission through email is highly discouraged.
Rules for Marking:
It should be clear that your assignment will not get any credit if:
The assignment is submitted after due date.
The submitted assignment file is corrupted.
The assignment is copied.
The assignment material is directly copied from internet.
Note:
Your answer must follow the below given specifications. You will be assigned no marks if you do not follow these instructions.
Font style: "Times New Roman"
Font color: "Black"
Font size: "12"
Bold for heading only.
Font in Italic is not allowed at all.
No formatting or bullets are allowed to use.
Q. 1: What is the role of CRM in challenging economy?
(Marks: 10)
Answer:
CRM in challenging economy?
In today’s economy organizations can’t rely on brute strength t s and tools. CRM is a technology that allows organizations to track and leverage every customer o maximizes the value of their customer relationships; rather, they need enabling technology interaction to maximize revenue opportunities and improve customer loyalty.
But CRM does much more than just track customer interactions. It also helps organizations optimize their operations by automating routine tasks and standardizing best practices. Ultimately, CRM allows organizations to better acquire, manage, serve, and extract value from their customers while improving operational efficiency something that is critical in today’s economy.
While there are surely many approaches being espoused in the market today, we believe there are five main strategies that companies can employ to survive and thrive during uncertain economic conditions:
1. Focus on existing customers
2. Maximize revenue opportunities
3. Do more with less
4. Reduce operational costs
5. Optimize existing IT assets
Q. 2 Why Many CRM initiatives, however, fail to deliver the expected benefits?
Marks (10)
Answer:
Many CRM initiatives, however, fail to deliver the expected benefits. This is largely due to the same set of issues:
Customer privacy is an important issue in CRM. CRM deals with large amounts of customer data through various touch points and communication channels. The individual firm is thus caught in an ethical dilemma – collecting as much information as possible but still respecting limits for personal privacy. . Poor quality customer data and information. CRM being primarily about information it is vital that this aspect is considered before the initiative commences.
Software issues: There are little standardized technologies and protocols for CRM implementation in the market. Vendors publish new versions of CRM software as frequently as they can thus adding to client’s expenses. CRM software requires highly integrated environment for high productivity, which is rarely available.
Business support was lacking - poor buy-in from the business was obtained or no buy-in from the business was sought. This resulted in little ownership within the business and therefore failed implementation or poor usage.
The planning had insufficient detail or depth - introducing CRM into an organization is a major initiative and if it is not planned adequately then it will fail. Usually the scale and nature of the operational change (as opposed to the systems change) was underestimated. It is easy to install a system. It is much harder to change people's work practices.
It was poorly implemented - which usually means that staff were not trained adequately and neither were the right changes put in place to introduce a new culture
The Executive had little customer/CRM understanding or involvement. Too often it was seen as a tactical issue and therefore insufficiently senior sponsorship is sought
CS507 Assignment # 1 Solution
Information System (CS507)
Spring 2010
Assignment No. 1
Due Date:
Your assignment must be uploaded/submitted before or on 27th April 2010.
Max Marks: 20
Uploading instructions:
Please view the Assignment Submission Process document provided to you by the Virtual University for uploading assignments.
The assignment should be in .doc format.
Save your assignment with your ID (e.g. bx020200786.doc).
The assignment submission through email is highly discouraged.
Rules for Marking:
It should be clear that your assignment will not get any credit if:
The assignment is submitted after due date.
The submitted assignment file is corrupted.
The assignment is copied.
The assignment material is directly copied from internet.
Note:
Your answer must follow the below given specifications. You will be assigned no marks if you do not follow these instructions.
Font style: "Times New Roman"
Font color: "Black"
Font size: "12"
Bold for heading only.
Font in Italic is not allowed at all.
Q. 1: How can you describe information in its ideal form? Moreover how ideal information would help us regarding decision making in our routine activities?
(Marks: 10) Answer:
Ideal Information:
Information is said to be in its ideal form if it is:
1- Periodically/ continuously updated:
The information should be updated from time to time so that whenever accessed, the user should get the most recent information and be fully informed.
2- Efficient Processing:
Data should not be kept unprocessed for a long period of time; rather it should be processed at regular intervals which help in effective decision making.
3- Value driven:
The information gathered from a certain environment in our computerized systems should add value to the user’s knowledge.
4- Audience Centered:
The information to be in its ideal form should exhibit the characteristic of being audience centered, so that everyone receives his relevant part of information out of the aggregate.
Ideal information and decision making:
In the absence of an accurate, reliable and well-timed information people and organizations will be unable to make decisions effectively; they will be unable to help or persuade others to make better decisions and no one will be able to ascertain whether the decisions made by particular individuals or organizations were the best ones that could have been made at that time.
Therefore information in its ideal form (being accurate and reliable) is vital for the effective decision making in almost every aspect of business whether it is undertaken by individuals, community organizations or governments. It is an essential component of any effort to persuade businesses to make better and optimal decisions from the ones which they might have made in the absence of such information.
Q. 2: Identify and explain different decision making approaches.
(Marks: 10)
Answer:
Following are the different decision making approaches:
a. Structured
b. Unstructured and
c. Semi structured
Structured decision making approach:
Structured decision making is a general term for carefully organized analysis of problems in order to reach decisions which are focused clearly on achieving fundamental objectives.
In structured decision making, procedures are predefined for solving routine repetitive problems. These decisions are made under the established situations and are preplanned which is possible only when we have fully understood the situation.
Unstructured decision making approach:
We use to make unstructured decisions when the situation is complex and no standard solutions exist for resolving the situation; when some or all of the structural elements of the decision situation are undefined, ill-defined or unknown. For example:
Goals may be poorly defined, alternatives may be incomplete or non-comparable, choice criteria may be hard to measure or difficult to link to goals.
The unstructured decisions are basically the non-programmed decisions which are happening for the first time and therefore require individual judgment, evaluation and insight varying on case-to-case basis. That’s why such types of decisions are creative and are not preplanned.
Semi-structured decision making approach:
We follow semi-structured decision making approach where some aspects of the problem are structured and others are unstructured.
Such decisions lie in the middle of structured and unstructured approaches and this is where most of our true decision support systems are focused on. Decisions of this type are characterized of having some agreement on the data, process, and evaluation to be used but are also typified by efforts to retain some level of human judgment in the decision making process.
Spring 2010
Assignment No. 1
Due Date:
Your assignment must be uploaded/submitted before or on 27th April 2010.
Max Marks: 20
Uploading instructions:
Please view the Assignment Submission Process document provided to you by the Virtual University for uploading assignments.
The assignment should be in .doc format.
Save your assignment with your ID (e.g. bx020200786.doc).
The assignment submission through email is highly discouraged.
Rules for Marking:
It should be clear that your assignment will not get any credit if:
The assignment is submitted after due date.
The submitted assignment file is corrupted.
The assignment is copied.
The assignment material is directly copied from internet.
Note:
Your answer must follow the below given specifications. You will be assigned no marks if you do not follow these instructions.
Font style: "Times New Roman"
Font color: "Black"
Font size: "12"
Bold for heading only.
Font in Italic is not allowed at all.
Q. 1: How can you describe information in its ideal form? Moreover how ideal information would help us regarding decision making in our routine activities?
(Marks: 10) Answer:
Ideal Information:
Information is said to be in its ideal form if it is:
1- Periodically/ continuously updated:
The information should be updated from time to time so that whenever accessed, the user should get the most recent information and be fully informed.
2- Efficient Processing:
Data should not be kept unprocessed for a long period of time; rather it should be processed at regular intervals which help in effective decision making.
3- Value driven:
The information gathered from a certain environment in our computerized systems should add value to the user’s knowledge.
4- Audience Centered:
The information to be in its ideal form should exhibit the characteristic of being audience centered, so that everyone receives his relevant part of information out of the aggregate.
Ideal information and decision making:
In the absence of an accurate, reliable and well-timed information people and organizations will be unable to make decisions effectively; they will be unable to help or persuade others to make better decisions and no one will be able to ascertain whether the decisions made by particular individuals or organizations were the best ones that could have been made at that time.
Therefore information in its ideal form (being accurate and reliable) is vital for the effective decision making in almost every aspect of business whether it is undertaken by individuals, community organizations or governments. It is an essential component of any effort to persuade businesses to make better and optimal decisions from the ones which they might have made in the absence of such information.
Q. 2: Identify and explain different decision making approaches.
(Marks: 10)
Answer:
Following are the different decision making approaches:
a. Structured
b. Unstructured and
c. Semi structured
Structured decision making approach:
Structured decision making is a general term for carefully organized analysis of problems in order to reach decisions which are focused clearly on achieving fundamental objectives.
In structured decision making, procedures are predefined for solving routine repetitive problems. These decisions are made under the established situations and are preplanned which is possible only when we have fully understood the situation.
Unstructured decision making approach:
We use to make unstructured decisions when the situation is complex and no standard solutions exist for resolving the situation; when some or all of the structural elements of the decision situation are undefined, ill-defined or unknown. For example:
Goals may be poorly defined, alternatives may be incomplete or non-comparable, choice criteria may be hard to measure or difficult to link to goals.
The unstructured decisions are basically the non-programmed decisions which are happening for the first time and therefore require individual judgment, evaluation and insight varying on case-to-case basis. That’s why such types of decisions are creative and are not preplanned.
Semi-structured decision making approach:
We follow semi-structured decision making approach where some aspects of the problem are structured and others are unstructured.
Such decisions lie in the middle of structured and unstructured approaches and this is where most of our true decision support systems are focused on. Decisions of this type are characterized of having some agreement on the data, process, and evaluation to be used but are also typified by efforts to retain some level of human judgment in the decision making process.
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