Decision science
September 2022 Examination
Q1. Avantika Mattoo working as an analyst in reputed pharmaceutical company wants to invest her money in stocks. Her friends having expertise in stock market investments, suggested her to invest money into ‘Reliance’ and ‘Maruti’ shares. Avantika’s economist on Avantika’s investments. The figures of return on investment as per four different scenarios presented in the table below.
| Payoff (profit within one month on one unit of share in INR) | Scenario 1 | Scenario 2 | Scenario 3 | Scenario 4 |
| Reliance Industry ltd. | 55 | 43 | 29 | 15 |
| Maruti | 26 | 38 | 43 | 51 |
1) Set up the opportunity loss table.
2) Draw the decision tree (Note: You may use any software for making tree diagram, but snapshot of handwritten tree will be unacceptable)
3) According to Niharika’s latest research, she has assigned the following probabilities to
the four scenarios (states of nature), determine the EMV decision; P(s1) = 0.4 P(s2) = 0.1 P(s3) = 0.3 P(s4) = 0.2.
(Note: Do mention the decision based on the analysis clearly in few sentences.)
(10 Marks)
Ans 1.
Introduction:
The gap between the maximum conceivable revenue for a state of nature and the exact revenue realized for the specific action chosen is characterized as an opportunity loss. In a nutshell, opportunity loss is the loss suffered as a result of failing to take the greatest potential course of action or plan. Opportunity losses are computed independently for each possible condition of nature. Therefore, for any state of nature, compute opportunity loss for the specified plan of events and determine the differential amongst the maximum payoff and payout for every plan of action for that state of nature. The conditional opportunity loss is
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Q2. From the following data, check the correlation of ‘Migrants person’ (Migration form Urban areas of J & K to another urban areas of J &K) with the below given variables. Write your conclusion with respect to the correlation coefficient and Scatter Diagram
Draw the scatter plot (you may use EXCEL, SPSS, Python, R etc.)
| Perform the correlation for the following pairs of variables |
| Migrant person numbers V/s ‘Number of Factory/Workshop/Work shed etc.’ |
| Migrant person number V/s ‘Number of commercial establishments’ |
| Migrant person number V/s ‘Number of towns’ |
| Migrant person number V/s ‘Population per sq. km.’ |
(Note: no need to calculate correlation coefficient manually, use EXCEL formula, or any other software)
(Note regarding the data access: You can copy the data from this pdf document and paste it into your EXCEL workbook; you may have to work on alignment if it is distorted in Excel.)
Data for the analysis
| Districts | Migrant person numbers | Number of Factory/ Workshop/ Workshed etc. | Number of commercial establishments | Number of towns | Population per sq. km. |
| Kupwara | 2667 | 188 | 6571 | 10 | 2212 |
| Badgam | 5370 | 273 | 5552 | 9 | 1996 |
| Leh(Ladakh) | 2621 | 176 | 3898 | 3 | 1902 |
| Kargil | 650 | 61 | 1711 | 1 | 7635 |
| Punch | 2038 | 67 | 3605 | 3 | 1604 |
| Rajouri | 4011 | 236 | 4656 | 4 | 2390 |
| Kathua | 11306 | 504 | 6952 | 6 | 2079 |
| Baramula | 19382 | 663 | 12171 | 7 | 2871 |
| Bandipore | 4866 | 156 | 3258 | 3 | 1317 |
| Srinagar | 94844 | 3575 | 47986 | 5 | 4141 |
| Ganderbal | 3041 | 231 | 2418 | 3 | 1852 |
| Pulwama | 7939 | 257 | 4885 | 5 | 2087 |
| Shupiyan | 1700 | 30 | 1673 | 1 | 3007 |
| Anantnag | 13545 | 919 | 14079 | 12 | 2880 |
| Kulgam | 2621 | 243 | 3902 | 7 | 1619 |
| Doda | 2297 | 76 | 3016 | 2 | 1655 |
| Ramban | 1171 | 41 | 1768 | 3 | 783 |
| Kishtwar | 569 | 45 | 1765 | 1 | 23595 |
| Udhampur | 10873 | 549 | 6795 | 6 | 2475 |
| Reasi | 2085 | 28 | 3677 | 5 | 692 |
| Jammu | 139422 | 2410 | 46539 | 20 | 3034 |
| Samba | 5349 | 685 | 5162 | 6 | 1383 |
Ans 2.
Introduction:
Correlation coefficients are being used to assess the strength of an association between two variables. The correlation coefficient is a statistical term that aids in the establishment of a relationship among predicted and actual values acquired in a statistical sum. The estimated correlation coefficient shows the closeness of the expected and actual values.
A correlation value of 1 indicates that for every positive rise in one variable, there is a fixed corresponding increment in the other. A correlation coefficient of -1 shows that for every
Q3a. The number of customers who enter a ‘German’ supermarket-Gandhinagar each hour is ‘normally’ distributed with a mean of 600 and a standard deviation of 200. The supermarket is open 16 hours per day. What is the probability that the total number of customers who enter the supermarket in one day is greater than 10,000? (Note: Show the stepwise calculation and write the interpretation based on the final answer) (5 Marks)
Ans. 3(a)
Introduction:
Probability is synonymous with possibility. It also refers to a mathematical branch that deals with the occurrence of a random event. The value ranges from zero to one. It basically indicates the likelihood of anything happening. It expresses the possibility of an event occurring. The probability of all events in a sample space equals to the value one. A probability technique can be used to
Q 3b. Shree Ganga Taploo University bookstore claims that 50% of its customers are satisfied with the service and prices.
If this claim is true, what is the probability that in a random sample of 600 customers less than 45% are satisfied with services and price?
(Note: Show the stepwise calculation and write the interpretation based on the final answer) (5 Marks)
Ans 3b.
Introduction:
The term “probability” refers to the likelihood of a specific event (or group of events) occurring, represented on a linear scale from 0 (impossibility) to 1 (certainty), as well as as a percentage between 0 and 100 percent. Statistics is the study of occurrences guided by probability. The more common understanding of probability is that it is merely a measure of
Business Communication
September 2022 Examination
Q1. You are the team leader at TCS. You have been given the job of enhancing the presentation skills of your team members. Suggest them ways in which they can appear more confident. Also, suggest steps for giving effective online presentations.(10 Marks)
Ans 1.
Introduction
As a team leader at TCS and directing my team to enhance their presentation skills, I would like to enlist a few points here:-
Deconstructing What Great Speakers Practice — The internet gives us the opportunities to learn from countless videos of the greatest speakers. One should deconstruct their speech by highlighting their tactics, approach, and styles of execution. We should identify each of the demonstrated speaking skills, study them, and thereafter model it from the video. You need to repeat, speak, and track until it’s mastered.
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Q2. A software company buys a lot of 10 laptops from ACER. But they find that the model does not solve their programming needs. You receive a letter from the company to refund the payment for a lot of 10 Laptops they had bought 8 days ago. As the Sales in charge of ACER, you decide to refuse the refund. What points will you keep in mind when drafting the refusal letter? Which type of buffer can you use to convey the news.
(10 Marks)
Ans 2.
Introduction
As Sales incharge of ACER, my return policy should never be excessively technical in text. I need to cover every detail not only in an informative way but also in a direct way is important. Instead, I should avoid a complicated return policy by inserting specialized language and poor formatting at all lengths. It’s also best to avoid confusion and ambiguities when discussing my company’s return policy’s limitations. This is especially critical in respect of the restrictions on item(s) for return.
Tips for Writing a Good Return, (rather a no return) Policy
Q3. You are completing your MBA in March 2022. While scanning through LinkedIn, you find a job opportunity:
Job Description:
This is a remote position.
Responsibilities: Managing the Credit Appraisal teams and coordinating regarding day to day activities and task work.
Experience: 1–2 years of relevant experience
Location: Navi Mumbai, India (Remote for the foreseeable future)
Requirement– Good interpersonal and analytical skills.
MBAs in Finance and Accounting are preferred.
- What are the 3 types of a resume? Explain each type briefly. (5 Marks)
Ans 3a.
Introduction
The first big decision in making any great resume is determining the format or the structure. There are three main or common types of resumes, which are as below-
- Functional
- Chronological
- Combination
The most common type is Functional Resumes — These documents have nothing to do with the
Q 3b. Draft a suitable application letter responding to the job description shared above.
(5 Marks)
Ans 3b.
Introduction
To draft a suitable application where both Functional Resume and Chronological Resume are combined in a unified way is a Combination Resume. The format of a combination resume template is also known as a chrono-functional resume, a hybrid resume or a work experience choice, or a break of the usual skills. They can do both: present your work history and creatively highlight
Business Law
September 2022 Examination
Q1. Arun is protesting the enforcement of a contract executed for the sale of his flat. He claims that this is a voidable contract. Please explain under which instances Arun can protest the agreement as a voidable agreement. (10 Marks)
Ans 1.
Introduction:
Under certain legal situations, a voidable contract can be canceled or amended. Due to the fact not all contracts are voidable; a felony precedent ought to exist to discharge an obligation. The phrase ‘voidable’ way ‘having the potential to be invalidated.’ A voidable contract appears lawful and enforceable at first glance, but one party could reject it if flaws are determined. If a party with authority to reject the contract decides not to reject it despite the fault, the agreement Its sample only
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Q2. Please give two (2) real-life instances where individuals or entities are prosecuted for violating the Information Technology Act, 2000. (10 Marks)
Ans 2.
Introduction:
There exist a complete 13 chapters and 90 provisions in the act. The revisions to the IPC 1860, the IEA 1872, and the Bankers’ Books evidence Act 1891, and the Reserve bank of India Act 1934 are dealt with in sections 91 to 94. The act includes chapters on electronic record authentication, digital signatures, and other subjects.
There are targeted techniques for certifying authorities and electronic signatures. The civil offense of robbery and the adjudication and appeals methods have been defined. The act then
3. Namesh wants to obtain the details of regulatory approvals and other formulation details of a cosmetic product manufactured by an FMCG company in India. These approvals and details were filed with the Indian government by the FMCG Company at the time of the cosmetic product launch. The details provided to the Indian government gave the FMCG Company a competitive position in the market. Please advise Namesh on the requisition of the information from the government:
a. Under which law can Namesh obtain the details and information of the regulatory approval and formulation of the said cosmetic product? (5 Marks)
Ans 3a.
Introduction:
The correct data turned into a proper that the constitution impliedly guaranteed. But, to establish a realistic framework for ensuring records security and openness, the Indian Parliament mounted the proper information Act, 2005, which gave Indian residents a powerful weapon to obtain information from the government often. The RTI Act of 2005 is a comprehensive law that
b. Can Namesh’s request be declined? If yes, please give reasons? (5 Marks)
Ans 3b.
Introduction:
The RTI Act of 2005 is a comprehensive law that encompasses practically all components of government and has the broadest workable software, as it applies to all stages of government, inclusive of the federal, nation, and nearby governments, in addition to beneficiaries of government finances. It additionally
Essentials of HRM
September 2022 Examination
Q1. Explain how managers can improve the effectiveness of external recruitment? (10 Marks)
Ans 1.
Introduction:
The best of an organization’s most essential asset, its human resource, determines whether it succeeds or fails. Without the contributions of its employees, a corporation can’t make development. As a result, the organization must have personnel with the essential skills, features, and understanding to carry out its operations and achieve its objectives. Recruitment is the technique of selecting the great and brightest individuals for a task from a vast pool of applicants. Recruitment aims to pique people’s interest using requiring them to use for positions, Its sample only
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Q2. Describe some of the actions that a firm might take to implement a human resource plan when it has a strategy of growth, stability, and reduction respectively (10 Marks)
Ans 2.
Introduction:
Human Resource Planning (HRP) is a methodical technique for determining an organization’s future workforce needs. Those specifications consist of the quantity of personnel required to do a specific assignment and the abilities and talents of possible employees. HRP’s key goals are to fill open positions, meet organizational goals on the agenda, and reach an appropriate overall performance stage. Moreover, HRP allows a company to verify that people with the proper skills
Q3. Jayram’s Dilemma
Jayram, GM (Sales), is finding it difficult to decide whom to choose for the position of sales executive in the Agro Business Division (ABD) of the steel company out of the following three candidates. Jayram recently interviewed Varsha, who happens to be a close relative of Jayram. She has worked for four years in the Cosmetics Sales Division of a retail outlet. The only concern from Jayram’s side is that Varsha is extremely ambitious, and she can come out as too sophisticated and arrogant for the dealers of ABD. Ritika has been working in the AB division as a non-managerial staff for the last seven years. She is now 26 years old. She entered the company when she was just 19 years through a policy of extending employment to employees’ wards. She pursued her study along with her job and completed both her graduation and MBA. Last year she got a double increment as an acknowledgment of her good work for the division. Jayaram’s concern about Ritika is that she might be too shy for the job, which requires an aggressive selling attitude. Jayram recently met with Abhishek at the marriage party of his colleague. Jayaram’s concern about Abhishek is that he does not have any work experience currently.
a. Jayram can hire only one person for ABD. Whom should he hire and why? (5 Marks)
Ans 3a.
Introduction:
Selection is choosing folks with the vital expertise and skills to do a specific activity. This technique is usually accomplished on a large variety of feasible job candidates. Selection is filtering through applications for a vacant position and eliminating people who no longer meet the activity’s and
b. How will he manage the issue of internal candidate Ritika? Will she be promoted, and if not promoted, how should Jayram communicate it to her? (5 Marks)
Ans 3b.
Introduction:
Employers generally employ a mix of inner and external recruitment strategies. Each technique shares critical fundamentals: A stable foundation in process evaluation, well-written task descriptions, and adherence to applicable legislation, including the same employment opportunity guidelines. Inner recruiting usually involves one or greater of the following: internal
Operations Management
September 2022 Examination
Q1. What are various decision criteria for deciding a location for a business setup? Explain these decision criteria with reference to a location decision for setting up a textile manufacturing plant. (10 Marks)
Ans 1.
Introduction:
Location decision: For setting up a corporation, one wishes proper vicinity to open the plant for production. Deciding the location of a business is a vital factor of facility planning as it affects the cost, achievement, and profitability of a corporation. Searching out a place for the business is a critical selection and needs to be taken with keen attention. Consequently, vicinity choice means finding an excellent region for installing a plant or facility for manufacturing goods or services. Other names for place decisions are web page location and Facility location. Usually, Its sample only
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Q2. Define and explain the term ‘Operations Management’. Explain the role of Operations Managers in their interface with other functions in an organization. Give relevant examples from a Retail Store Operation. (10 Marks)
Ans 2.
Introduction:
Operation management: an area of control through which an employer can oversee, design, and control the production system and redesign business operations inside the manufacturing of goods or offerings is known as operations control. In other words, operations management directs and controls the process of a company that facilitates reworking the firm’s inputs into services and products. As each business pastime of an employer consists of a system, operations management is determined in all functional areas. The five operation management selections for
Q3. Many business organizations have operations in which inventory management is a daily and constant process. Managing a production setup (say an automobile manufacturing or service shop) is one such business, wherein the procurement and managing various inventory is a very strategic process. Explain the following concepts (with atleast one example) in the Operations of the business, and conclude how relevant is it in the business?
a. Economic Ordered Quantity (EOQ) (5 Marks)
Ans 3a.
Introduction:
Economic order quantity (EOQ): Every organization that purchases and holds stock has to area orders in the amount that suits first-rate in line with their wishes. Having too massive orders and too much fewer orders, each isn’t an item for a business, as the former results in high storage costs, and the latter does now not allow the firm to satisfy a customer’s desires. To remedy such
b. Define Quality and list and discuss in brief the various dimensions of quality in operations (5 Marks)
Ans 3b.
Introduction:
Quality: The definition of quality changes with the perspective of the individual explaining it. In terms of operations control, an excellent method is the degree of excellence of a product or service. A quality product or service fulfills the expectations of the customers. Each
Strategic Management
September 2022 Examination
Q1. A business enterprise takes major critical decisions like expansion, curtailing down production lines or continuing the operations, diversifying the activities or looking into the current industry only, mergers, acquisitions, or strategic alliances. Orientation towards growth is one of the influential factors deciding the long-term performance of a corporation. Discuss with reference to the corporation’s directional strategy the three other grand strategies which need to be designed and implemented for the overall success of the corporation’s directional strategy. Conclude, by reflecting on the importance of directional strategy (10 Marks)
Ans 1.
Introduction
A company’s directional strategy includes the main scheme, project, or mandate it chooses and implements to amplify, boom earnings, and meet its desires and objectives. Any company seeking to increase income needs to begin with a directional plan. A directional strategy enables a corporation to outline the values it wants to uphold and the targets it aspires to gain. Directional strategies are seen as a paradigm for teaching operational choices and procedures of any Its sample only
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Q2. A business model is an outline of how a company plans to make money with its product and customer base in a specific market. At its core, a business model explains four things:
– What product or service will a company sell?
– How it intends to market that product or service.
– What kind of expenses will it face?
– How it expects to turn a profit.
Business models are constantly changing — there is no one-size-fits-all model that can be applied to every business. (Source: https://bit.ly/3remL7l)
Discuss the term business model and mention the key features of possible business models observed in companies like IBM, HP, Amazon.com, KIA Motors, Walt Disney, and LinkedIn. (Student can specify any four possible business models,) (10 Marks) –
Ans 2.
Introduction
A business model defines how a firm will generate income. in the end, it boils all the way down to an employer’s ability to its essence. A business version addresses fundamental questions on the hassle you will resolve, how you will remedy it, and the market growth opportunity. Whether or not you are setting up a new company, increasing into a new place, or changing your move-to-market strategy, developing a successful business model is critical. You could use a business
Q3. Businesses have social responsibilities. They should try to help ease societal ills—by providing employment to the long-term unemployed, for instance, or fighting discrimination or avoiding pollution—in addition to generating profits for their shareholders.
Maximization of profits is like maximizing food, as contended by Byron.
However, Friedman propounded all together differently the responsibilities of strategic decision-makers. “Businessmen who talk this way are unwitting puppets of the intellectual forces that have been undermining the basis of a free society these past decades.” (Source-https://bit.ly/3Hha0OU)
In the light of the above two statements, discuss according to you what are the responsibilities of strategic business decision-maker
a. Responsibilities of business, according to Carroll. (5 Marks)
Ans 3a.
Introduction
The notion of company social responsibility requires groups to help with issues linked to public welfare. Philanthropic activities are non-obligatory due to the fact corporations bear no number one responsibility for these undesirable conditions. But, it’s miles anticipated from the
b. Friedman’s traditional view. (5 Marks)
Conclude highlighting the two above mentioned, which one is prevalent now in the current scenario.
Ans 3b.
Introduction
Friedman’s theory believes that shareholders are the corporation’s backbone and must be dealt with the highest care. Profit maximization necessitates the organization to discover new earnings streams via value addition and introduce new products and services while keeping prices low. Friedman also cautioned that essential decisions