Thursday 11 July 2013

MB0043–Human Resource Management


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Summer-2013
Master of Business Administration- MBA Semester 1
MB0043–Human Resource Management-4 Credits
(Book ID: B1626)
Assignment (60 Marks)
Note: Answer all questions (with 300 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60
Q1. Define Human resource planning (HRP). Explain the objectives and process of HRP.
Answer. Human Resource Planning:
Human resource or manpower planning is 'the process by which a management determines how an organization should move from its current manpower position to its desired manpower position. Through planning, a management strives to have the right number and the right kind of people at the right places, at the right time, to do things which result in both the organization and the individual receiving the maximum long-range benefit".

Q2. What are the factors affecting recruitment? What are the sources of recruitment?
Answer. The process of finding and hiring the best-qualified candidate (from within or outside of an organization) for a job opening, in a timely and cost effective manner. The recruitment process includes analyzing the requirements of a job, attracting employees to that job, screening and selecting applicants, hiring, and integrating the new employee to the organization.

Q3. What are the main objectives of training? Explain on-the job and off the job training.
Answer. Training is an organized planned effort by a company in order to facilitate employees learning regarding job related competencies. These competencies include knowledge, skills and behaviors important for successful job performance.
Objectives:
Employees will definitely learn best when objectives of the training program were clearly stated to them, objective means the purpose and expected outcome of training activities.
Ø  To impart basic knowledge and skill to new entrants required for intelligent performance of definite task in order to induct them without much loss of time.

Q4. Define performance management. Write a brief note on 360 degree appraisal.
Answer. Performance management is a continuous process in this unit we will discuss the cycle of performance management. A system is basically a set of interacting components. The components or parts of effective performance management system are:
Performance planning: This is the process of identifying employee objectives and setting job expectations and goals for each position in the company. Each department in the company usually has different expectations for its employees based on the requirements of the positions in the department. Clearly defined expectations and goals give employees the greatest

Q5. What is meant by job analysis? Explain its purpose and methods.
Answer. Job Analysis: Detailed examination of the (1) tasks (performance elements) that make up a job (employee role), (2) conditions under which they are performed, and (3) what the job requires in terms of aptitudes (potential for achievement), attitudes (behavior characteristics), knowledge, skills, and the physical condition of the employee.
Its objectives include (a) determination of the most efficient methods of doing a job, (b) enhancement of the employee's job satisfaction, (c) improvement in training methods, (d)

Q6. What are the benefits and objectives of employee welfare measures?
Answer. Employee welfare means “the efforts to make life worth living for workmen.” According to Todd “employee welfare means anything done for the comfort and improvement, intellectual or social, of the employees over and above the wages paid which is not a necessity of the industry.”
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MB0042–Managerial Economics


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Summer-2013
Master of Business Administration- MBA Semester 1
MB0042–Managerial Economics-4 Credits
(Book ID: B1625)
Assignment (60 Marks)
Note: Answer all questions (with 300 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60
Q1. Discuss the practical application of Price elasticity and Income elasticity of demand.
Answer. Price Elasticity is the degree to which customers respond to price changes. Price Elasticity is if a small change in price is accompanied by a large change in quantity demanded, the product is said to be elastic (or responsive to price changes). A product is inelastic if a large change in price is accompanied by a small amount of change in demand.

Q2. Explain the profit maximization model in detail.
Answer. A process that companies undergo to determine the best output and price levels in order to maximize its return. The company will usually adjust influential factors such as production costs, sale prices, and output levels as a way of reaching its profit goal. There are two main profit maximization methods used, and they are Marginal Cost-Marginal Revenue Method and Total Cost-Total Revenue Method. Profit maximization is a good thing for a company, but can be a bad thing for consumers if the company starts to use cheaper products or decides to raise prices.

Q3. Describe the objectives of pricing Policies.
Answer. Pricing Policies
A detailed study of the market structure gives us information about the way in which prices are determined under different market conditions. However, in reality, a firm adopts different policies and methods to fix the price of its products. Pricing policy refers to the policy of setting the price of the product or products and services by the management after taking into account of various internal and external factors, forces and its own business objectives. Pricing is considered as one of the basic and central problems of economic theory in a modern economy.

Q4. Define Fiscal Policy and the instruments of Fiscal policy.
Answer. Fiscal Policy:
Government's revenue (taxation) and spending policy designed to (1) counter economic cycles in order to achieve lower unemployment, (2) achieve low or no inflation, and (3) achieve sustained but controllable economic growth. In a recession, governments stimulate the economy with deficit spending (expenditure exceeds revenue). During period of expansion, they restrain a fast growing economy with higher taxes and aim for a surplus (revenue exceeds expenditure). Fiscal policies are based on the concepts of the UK economist John Maynard

Q5. Explain the kinds and the basis of Price discrimination under monopoly.
Answer. Price discrimination
A monopolist may be able to engage in a policy of price discrimination. This occurs when a firm charges a different price to different groups of consumers for an identical good or service, for reasons not associated with the costs of production.
The practice on the part of the monopolist to sell the identical goods at the same time to different buyers at different prices when the price difference is not justified by difference in costs in called price discrimination. In the words of Mrs. Joan Robinson, “Price discrimination is

Q6. Define the term Business Cycle and also explain the phases of business or trade cycle in brief.
Answer. The business cycle is the periodic but irregular up-and-down movements in economic activity, measured by fluctuations in real GDP and other macroeconomic variables. If you're looking for information on how various economic indicators and their relationship to the business cycle, please see A Beginner's Guide to Economic Indicators. Perkin and Bade goes on to explain: A business cycle is not a regular, predictable, or repeating phenomenon like the swing of the pendulum of a clock. Its timing is random and, to a large degrees, unpredictable.
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MB0041–Financial and Management Accounting


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Summer-2013
Master of Business Administration- MBA Semester 1
MB0041–Financial and Management Accounting-4 Credits
(Book ID: B1624)
Assignment (60 Marks)
Note: Answer all questions (with 300 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60
Q1. Accounting is one of the oldest, structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting?
Answer. Accounting:-The system recording, reporting and analyzing of financial transactions of a business. The person in charge of accounting is known as an accountant & this individual is typically required to follow a set of rules & regulations such as the Generally Accepted Accounting Principle (GAAP). Accounting allows a company to analyze the financial performance of the business, look at statistics such as net profit.
Book keeping: - It is the task of recording, classifying and summarizing (up to trial balance) of

Q2. Explain GAAP and write down the relationship between accounting principles, accounting concepts, and accounting conventions. Explain all the five accounting concepts with an example.
Answer. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) :- The common set of accounting principles, standards and procedures that company uses to compile their financial statements. GAAP are a combination of authorities’ standards and simply the commonly accepted ways of recording and reporting accounting information.
ACCOUNTING PRINCIPLES:-  
Q3. List down the classification of accounts according to accounting equation approach. Give the meaning and examples for all the types of accounts.
Answer. ACCOUNTING EQUATION:-
ASSETS = LIABILITIES + OWNERS EQUITY
Basic accounting group covers all finance related things into 5 fundamental types of accounts. That is, everything that accounting deals with can be placed into one of these 5 accounts:-

Q4. What is cash book? Differentiate between other subsidiary books and cash book.
Answer. CASH BOOK: -   Journal in which all cash receipts and payments (including bank deposits and with drawls) are recorded first, in chronological order, for posting to journal ledger, termed as cash book. Cash book is regularly reconciled with the bank statements as an internal auditing measure. In large firms cash book is of two types:-
1. Cash disbursement: Journal in which all cash payments are recorded.

Q6. What is management accounting? Explain the roles of management accounting and write down about any 2 functions of management accounting.
Answer. MANAGEMENT ACCOUNTING:-It combines accounting, finance and management with the leading edge techniques needed to drive successful business. it is concerned with the provisions and use of accounting information to managers with in organizations, to provide them with the basis to make informed business decisions that will allow them to be better equipped in their management and control functions.
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MB0040–Statistics for Management


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Summer-2013
Master of Business Administration- MBA Semester 1
MB0040–Statistics for Management-4 Credits
(Book ID: B1731)
Assignment (60 Marks)
Note: Answer all questions (with 300 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60
Q1. Statistics plays a vital role in almost every facet of human life. Describe the functions of Statistics. Explain the applications of statistics.
Answer. Statistics is the study of the collection, organization, analysis, interpretation and presentation of data. It deals with all aspects of data, including the planning of data collection in terms of the design of surveys and experiments. Statisticians improve data quality by developing specific experiment designs and survey samples. Statistics itself also provides tools for prediction and forecasting the use of data and statistical models.

Q2. A. Explain the various measures of Dispersion.
B. Obtain the values of the median and the two Quartiles.
391        
384
591
407
672
522
777
733
2488
1490

Answer. A. The following are the various measures of dispersion:
(a) Range (b) Interquartile Range and Quartile Deviation (c) Mean Deviation (d) Standard Deviation and Variance (e) Coefficient of variation. While measures (a), (b), (c) and (d) are called absolute measures, measure (e) is called a relative measure of dispersion. An absolute
B. Arranging in order:
384
391
407
522
591
672
733
777
1490
2488


Q3. A. What is correlation? Distinguish between positive and negative correlation.
B. Calculate coefficient of correlation from the following data.
X
1
2
3
4
5
6
7
8
9
Y
9
8
10
12
11
13
14
16
15

Answer. A. Correlation:
Degree and type of relationship between any two or more quantities (variables) in which they vary together over a period; for example, variation in the level of expenditure or savings with variation in the level of income. A positive correlation exists where the high values of one variable are associated with the high values of the other variable(s). A 'negative correlation'

Q4. Index number acts as a barometer for measuring the value of money. What are the characteristics of an index number? State its utility.
Answer. Index number:
A number indicating change in magnitude, as of price, wage, employment, or production shifts, relative to the magnitude at a specified point usually taken as 100. A statistic indicating the relative change occurring in each successive period of time in the price, volume, or value of a commodity or in a general economic variable, such as the price level, national income, or gross output, with reference to a previous base period conventionally given the number 100.

Q5. Business forecasting acquires an important place in every field of the economy. Explain the objectives and theories of Business forecasting.
Answer. Business forecasting provides a guide to long-term strategic planning and helps to inform decisions about scheduling of production, personnel and distribution. These are common statistical tasks in business that are often done poorly and frequently confused with planning and setting of goals. This unique programme is designed to provide a balanced mix of theory and practice with the aim of equipping participants to become operational forecasters, capable of designing, implementing and evaluating their own forecasting projects. The theories discussed will be cemented by hands-on sessions in the computer laboratory using industry-

Q6. The weekly wages of 1000 workers are normally distributed around a mean of Rs. 70 and a standard deviation of Rs. 5. Estimate the number of workers whose weekly wages will be:
A. Between 70 and 72
B. Between 69 and 72
C. More than 75
D. Less than 63
Answer. A. Let x be a random variable.
Given µ = 70, σ = 5
Let Z = (x-µ)/σ, When x = 70, Z = (70-70)/5 = 0
D. x = 63
Z = (x-x1)/σ = (63-75)/12 = -12/5 = -2.4
P (x<63
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MB0039–Business Communication


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Master of Business Administration- MBA Semester 1
MB0039–Business Communication - 4 Credits
(Book ID: B1622)
Assignment (60 Marks)
Note: Answer all questions (with 300 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60
Q1. Communication skills are of utmost importance in managing information and technology in any organization. List the characteristics of communication and discuss the seven barriers to effective communication.
Answer. Communication is the meaningful interaction with people in such a manner that the ideal that the ideal thought is same and getting the feedback also. Communication is commonly defined as "the exchange of thoughts, ideas, feelings, information, opinions, and knowledge". Definitions of Communication:
·         Communication is meaningful interaction.
·         Communication is information sharing.

Q2. Non-verbal communication can have a greater impact than verbal communication and is ambiguous. List and explain the various types of non-verbal communication in brief.
Answer. Non-verbal communications include facial expressions, the tone and pitch of the voice, gestures displayed through body language (kinesics) and the physical distance between communicators. These non-verbal signals can give clues and additional information and meaning over and above spoken (verbal) communication.
These include:
1. Body Language and Posture (Kinesics)
2. Gestures
3. Eye Contact

Q3. Written messages must be as readable as possible. Discuss the two broad principles of writing. Explain the three stages of writing methodology in detail.
Answer. PRINCIPLES:
Whether one is speaking informally to a colleague, addressing a conference or meeting, writing a newsletter article or formal report, the following basic principles apply:
1. Know your audience.
2. Know your purpose.
3. Know your topic.
4. Anticipate objections.

Q4. There are various techniques of reading out of which SQ3R is most popular. How will you apply it while reading and research?
Answer. SQ3R or SQRRR is a reading comprehension method named for its five steps: survey, question, read, recall, and review.
Steps of SQ3R techniques of reading:
1. Survey
Survey refers to a quick glance through the title page, preface and chapter headings of a text. By surveying, you will be able to gauge the main ideas of the text. Besides, the author’s name, date, place of publication and title page can give you an idea of the general subject

Q5. Advertisements are used by the organizations to communicate with prospective customers. What is the meaning and objectives of corporate advertising? Discuss with examples.
Answer. Meaning:
Advertising is the best way to communicate to the customers. Advertising helps informs the customers about the brands available in the market and the variety of products useful to them. Advertising is for everybody including kids, young and old. It is done using various media types, with different techniques and methods most suited. Corporate advertising whose purpose is to promote the image of a corporation rather than the sale of a product or

Q6. In order to get a job you need to approach an organization with a resume. How does a resume affect your employability? What are the components of resume?
Answer. There are plenty of opportunities to present you well in the application or resume short listing process.
Application and CV
This is your first chance to show your written communication and presentation skills.
1. Make sure that your application looks good – clear, concise and with no spelling mistakes. Always get it in before the closing date in a format to suit the employer. Read the articles about application and CVs on jobs.ac.uk for more information.
2. Making sure that your CV is tailored to the position you are applying for shows that you have an understanding of what the employer is looking for, demonstrating commercial

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MB0038–Management Process and Organizational Behaviour


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Summer-2013
Master of Business Administration- MBA Semester 1
MB0038–Management Process and Organizational Behaviour-4 Credits
(Book ID: B1621)
Assignment (60 Marks)
Note: Answer all questions (with 300 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60
Q1. Describe the concept of vision in an organization with an example. How is it different from mission statement?
Answer. Vision statements reflect the ideal image of the organization in the future. They create a focal point for strategic planning and are time bound, with most vision statements projected for a period of 5 to 10 years.  The vision statement communicates both the purpose and values of the organization. For employees, it gives direction about how they are expected to behave and inspires them to give their best. Shared with customers, it shapes customers’ understanding of why they should work with the organization.

Q2. Define the term ‘management’. Explain the scientific management theory proposed by Taylor
Answer. The organization and coordination of the activities of a business in order to achieve defined objectives.
Management is often included as a factor of production along with‚ machines, materials, and money. Management consists of the interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization's resources in order to achieve the objectives of that policy.

Q3. Give the definition and importance of planning in an organization and explain the steps in planning.
Answer. Planning:
1. A basic management function involving formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources. The planning process (1) identifies the goals or objectives to be achieved, (2) formulates strategies to achieve them, (3) arranges or creates the means required, and (4) implements, directs, and monitors all steps in their proper sequence.
2. The control of development by a local authority, through regulation and licensing for land use changes and building.

Q4. What is meant by leading? Describe the characteristics of leading.
Answer. Leading – A continuous process of setting objectives and trying to achieve them through the efforts of other People
1.  This definition of leading defines any leading, not necessarily good (successful) leading.
2.  A definition of good leading would delete “trying to achieve” and substitute “achieving”. Thus good leading means – a continuous process of setting objectives and achieving them through the efforts of other people.

Q5. What are ‘attitudes’? Explain the components and functions of attitude.
Answer. A predisposition or a tendency to respond positively or negatively towards a certain idea, object, person, or situation. Attitude influences an individual's choice of action, and responses to challenges, incentives, and rewards (together called stimuli).
Three major components of attitude are (1) Affective (2) Cognitive (3) Evaluative
Attitudes are evaluative statement favorable or unfavorable related to person, object or event. They reflect that how one feel about something. For example if someone says that I like my job.

Q6. Define leadership. Differentiate between authoritarian and democratic leadership style.
Answer. The activity of leading a group of people or an organization or the ability to do this.
Leadership involves:
(1) Establishing a clear vision,
(2) Sharing that vision with others so that they will follow willingly,
(3) Providing the information, knowledge and methods to realize that vision, and
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MK0013–Marketing Research


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Summer-2013
Master of Business Administration- MBA Semester 1
MK0013–Marketing Research-4 Credits
(Book ID: B1711)
Assignment (60 Marks)
Note: Answer all questions (with 300 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60
Q1. Write a short note on:
A. Various types of Research (any five)
B. Characteristics of Research.
Answer. A. 1.  Pure research
Ø  Also called as the fundamental or the theoretical research.
Ø  Is basic and original.
Ø  Can lead to the discovery of a new theory.
B. Characteristics of Research:
Ø  Reliability is a subjective term which cannot be measured precisely but today there are instruments which can estimate the reliability of any research. Reliability is the repeatability of any research, research instrument, tool or procedure.

Q2. Explain the process of sampling and classification of non-probability sampling techniques.
Answer.  Sampling - Statistical method of obtaining representative data or observations from a group (lot, batch, population, or universe). A process used in statistical analysis in which a predetermined number of observations will be taken from a larger population. The methodology used to sample from a larger population will depend on the type of analysis being

Q3. Discuss the types of Research Design in brief.
Answer. A research design encompasses the methodology and procedures employed to conduct scientific research. The design of a study defines the study type (descriptive, correlation, semi-experimental, experimental, review, meta-analytic) and sub-type (e.g., descriptive-longitudinal case study), research question, hypotheses, independent and dependent variables, experimental design, and, if applicable, data collection methods and a statistical analysis plan.

Q4. Explain the various types of Consumer and Business to Business (B2B) market research.
Answer. Types of Consumer:
1. Loyal Consumers- These types of customers are less in numbers but promote more sales and profit as compared to other customers as these are the ones which are completely satisfied. These customers revisit the organization over times hence it is crucial to interact and keep in touch with them on a regular basis and invest much time and effort with them. Loyal customers want individual attention and that demands polite and respectful responses from supplier.

Q5. Explain the various methods used to collect primary data in brief.
Answer. Primary data is a type of information that is obtained directly from first-hand sources by means of surveys, observation or experimentation. It is data that has not been previously published and is derived from a new or original research study and collected at the source such as in marketing. Primary data is the raw information before the processing is done. It mainly consists of numerical collections of raw information to be analyzed and evaluated. The term

Q6. Explain various methods of central tendency with formula and example for each.
Answer. In statistics, a central tendency (or, more commonly, a measure of central tendency) is a central value or a typical value for a probability distribution. It is occasionally called an average or just the center of the distribution. The most common measures of central tendency are the arithmetic mean, the median and the mode. A central tendency can be calculated for either a finite set of values or for a theoretical distribution, such as the normal distribution.
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MK0012–Retail Marketing


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Summer-2013
Master of Business Administration- MBA Semester 1
MK0012–Retail Marketing-4 Credits
(Book ID: B1723)
Assignment (60 Marks)
Note: Answer all questions (with 300 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60
Q1. Define e-tailing. Explain the future of electronic retailing.
Answer. E-tailing is the selling of retail goods on the Internet. Short for "electronic retailing," and used in Internet discussions as early as 1995, the term seems an almost inevitable addition to e-mail, e-business, and e-commerce. E-tailing is synonymous with business-to-consumer (B2C) transaction. Electronic retailing (e-tailing) is a buzzword for any business-to-consumer (B2C) transactions that take place over the Internet. Simply put, e-tailing is the sale of goods online. Companies like Amazon and Dell created the online retail industry by putting the entire

Q2. Explain the factors which are leading to the growth of retail sector.
Answer. Factors Affecting Growth of Retail Sector in India:
1.      Increase in per capita income: Per capita Income means how much an individual earns, of the yearly income that is generated in the country through productive activities. India has marked growth in per capita income by 10.5% which shows tremendous increase in GNP (Gross National Product) of the country. Increase in per capita income reflects hike in income of

Q3. Describe the tools of integrated marketing communication.
Answer. An approach to achieving the objectives of a marketing campaign, through a well coordinated use of different promotional methods that are intended to reinforce each other.
As defined by the American Association of Advertising Agencies, integrated marketing communications "recognizes the value of a comprehensive plan that evaluates the strategic roles of a variety of communication disciplines advertising, public relations, personal selling,

Q4. Discuss the Retail pricing strategies.
Answer. Pricing of a product is vital for a retailer. It determines the profit and is one of the major marketing mix tools. Therefore retailers have to be very careful while choosing the pricing strategy to achieve profit goal. They need to design good pricing strategy for particular brands, categories, stores and markets. Two key elements in factoring product cost are the cost of goods and operating expenses. The costs of goods include the price paid for the product, plus

Q5. Write short notes on:
A. Types of retail store location with examples (any five)
B. Factors affecting retail store location (any five)
Answer. A. Types of Retail Store:
1. Shopping Center
Strip malls and other attached, adjoining retail locations will also have guidelines or rules for how they prefer their tenants to do business. These rules are probably more lenient than a mall, but make sure you can live with them before signing a lease.
B. Factors Affecting:
 1. Demographic Characteristics
Demography is the study of population characteristics that are used to describe consumers. Retailers can obtain information about the consumer’s age, gender, income, education, family characteristics, occupation, and many other items.

Q6. Write short notes on:
A. Classification of retail consumers based on shopping.
B. Types of buying behavior
Answer. A. To face the challenge of building customer loyalty, we need to break down shoppers into five main types:
Ø  Loyal Customers: They represent no more than 20 percent of our customer base, but make up more than 50 percent of our sales.
Ø  Discount Customers: They shop our stores frequently, but make their decisions based on the size of our markdowns.

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MK0011–Consumer Behaviour


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Summer-2013
Master of Business Administration- MBA Semester 1
MK0011–Consumer Behaviour-4 Credits
(Book ID: B1722)
Assignment (60 Marks)
Note: Answer all questions (with 300 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60
Q1. Explain the components of learning and also classical conditioning theory in brief.
Answer. Learning aimed at the three domains of learning: knowledge, skills and attitudes. These are also termed the cognitive, psychomotor and affective domains of learning.
Cognitive Domain - This domain includes content knowledge and the development of intellectual skills. This includes the recall or recognition of specific facts and concepts that serve

Q2. Briefly discuss the decision-making models (any three).
Answer. There are three basic models used to describe the decision making process; the rational model, Simon's normative model and Administrative Model.
1. The rational model proposes that people follow a rational, four step sequence when making decisions. The four steps are:
Ø  Indentifying the problem
Ø  Generating solutions
Ø  Selecting a solution
Ø  Implementing and evaluating the solution

Q3. Write short notes on the following:
A. Forms of Motivational conflict.
B. Forms of Defense mechanisms.
Answer. A. Sometimes the urge to do something worthy or good or pleasurable is directly opposed by the fact that it involves pain or inconvenience or hard work. Then the organism is in conflict between two opposite motives. That is one form of motivational conflict called an approach/avoidance conflict. One may also feel torn between two different pleasures. Or one
B. Defense mechanisms:
1. Denial
Denial is the refusal to accept reality or fact, acting as if a painful event, thought or feeling did not exist. It is considered one of the most primitive of the defense mechanisms because it is characteristic of early childhood development.

Q4. Describe the levels of consumer decision making while buying.
Answer. The consumer purchase decision process is generally viewed as consisting of sequential steps or stages through which the buyer passes in purchasing a product or service. The various steps in this process as well as the relevant internal psychological processes that occur at each stage such as motivation, perception, attitude formation, integration and learning.

Q5. Discuss the influences of the reference group and Applications of reference group in a company.
Answer. A reference group is one that the individual tends to use as the anchor point for evaluating his/her own beliefs and attitudes. One may or may not be a member and may or may not aspire to membership in a reference group; nevertheless, it can have great influence on one's values, opinions, attitudes, and behavior patterns. A reference group may be positive; that is, the individual patterns his or her own beliefs and behavior to be congruent with those of the group.

Q6. Explain the five categories of Adopters in innovation process.
Answer. 1.  Innovator: Venturesome
Observers have noted that venturesomeness is almost an obsession with innovators. They are very eager to try new ideas. This interest leads them out of a local circle of peer networks and into more cosmopolite social relationships. Communication patterns and friendships among a clique of innovators are common, even though the geographical distance between the innovators may be considerable. The innovator must be able to cope with the high degree of uncertainty about an innovation at the time that the innovator adopts.
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