SMU Spring 2015 2nd Semester solved assignments

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SMU Spring 2015 1st Semester solved assignments

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PM0018-Contracts Management in Projects

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Master of Business Administration- MBA Semester 4

PM0018-Contracts Management in Projects-4 Credits

(Book ID: B2014)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60.

Q1. Explain the importance of project parties in project completion.

Answer. Importance of the project parties in terms of their functions –

Parties Involved In The Project Completion Construction Essay

In a construction project there are several parties involved in the completion of the project. These parties can be from either the public sector or the private sector. The key parties are the owner/client, the architect/engineer and the

Q2. What is bidding? Describe the bidding process from the buyer’s perspective

Answer. A bidding system in contract bridge is the set of agreements and understandings assigned to calls and sequences of calls used by a partnership, and include a full description of the meaning of each treatment and convention.

Purpose of bidding

1. Specifications

The first step in the bidding process deals with coming up with the specifications for the job. The company or customer looking for bids has to develop specifications for the bidding process. For example, if the customer needs a building

Q3. Explain the structure of a contract.

Answer. List the elements of the contract structure Explain the elements by Cheryl Withrow, Demand Media

As an employer, you want an employment contract that protects you and your business, while ensuring a suitable work environment for your employee. When both interests are equitably served, your company and your employee reap benefits. Providing an employment contract essentially replaces the standard hiring understanding between you and your employee. With a contract, the employer-employee relationship gets spelled out in detail, and contains significantly more elements than a standard employment agreement.

Q4. Explain Co-operative Benchmarking Process (COBAP)

Answer. Reasons Why Retail Is Booming

Primary reasons

The prime reasons that fuelled this boom include favourable demographics, rising consumer incomes, real estate developments, especially the emergence of new shopping malls, availability of better sourcing options - both from within India and overseas -

Q5. Explain any 5 ways that contracts may be terminated or discharged.

 Answer. 5 Ways to Terminate a Contract by Rose Johnson, Demand Media

Impossibility of Performance

A contract typically requires one or more parties to do something, which is called performance. For example, a company may hire and sign a contract to have a public speaker talk at a company event. Once the public speaker fulfills his duties agreed upon in the contract, it is called performance. If for some reason it is impossible for the public speaker to fulfill his duties, it is called impossibility of performance. The company has the right to terminate the contract in

Q6. What are the different contract forms of PPP (Public Private Partnership).

Answer. In a PPP of a purely contractual nature, the partnership between the public and the private sector is based solely on contractual links, whereas in a PPP of an institutional nature there is cooperation between the public and the private sectors within a distinct entity. Both arrangements involve delegated management of the traditional public sector activities to the private sector. In the first type of PPP, the rights and obligations are regulated by an

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PM0017–Project Quality Management

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Master of Business Administration- MBA Semester 4

PM0017–Project Quality Management-4 Credits

(Book ID: B2013)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60.

Q1. What is the need for quality management? Explain the significance of customer focus in quality management.

Answer. 4 reasons why organizations need to implement quality management –

1. A Quality Management System Improves Organizational Effectiveness

Every organization has certain

Q2. Explain the major project management standards and frameworks.

Answer. PMBOK is the fundamental knowledge you need for managing a project, categorized into 8 knowledge areas:

1. Managing integration: Projects have all types of activities going on and there is a need to keep the “whole” thing moving collectively – integrating all of the dynamics that take place. Managing integration is about developing the project charter, scope statement, and plan to direct,

Q3. What are the benefits of quality metrics? Explain the 3 categories of quality metrics.

Answer. List any 4 benefits of quality metrics –

It is often said that, "What gets measured gets done." Measurements communicate values and priorities to an organization. Time and resources devoted to measurement demonstrate management commitment that the object of the measurement is important. Therefore, the selection of appropriate metrics is an essential starting point for process improvement.

Q4. Discuss the major barriers to project quality improvement.

Answer.  List and discuss the 8 major barriers to project quality improvement.

1. LACK OF CLARITY

One of the barriers to project implementation is lack of clarity. Some or all employees don’t know or don’t understand the project goals, objectives,

Q5. What is SIPOC (Suppliers, Inputs, Process, Outputs, and Customers)? Which 3 factors should you focus on developing SIPOC? Explain.

Answer. Define SIPOC - In process improvement, a SIPOC (sometimes COPIS) is a tool that summarizes the inputs and outputs of one or more processes in table form. The acronym SIPOC stands for suppliers, inputs, process, outputs, and customers which form the columns of the table.

3 factors you would focus on developing SIPOC –

Approach for Process Mapping – SIPOC

The purpose of mapping an organization’s current process is to position the organization to quickly define, document, analyze,

Q6. Write short notes on the following problem solving methodologies:

1.  Brainstorming

2.  Nominal Group Technique (NGT)

Answer. 1. Brainstorming is a group or individual creativity technique by which efforts are made to find a conclusion for a specific problem by gathering a list of ideas spontaneously contributed by its member(s). The term was popularized by Alex Faickney Osborn in the 1953 book Applied Imagination. Osborn claimed that brainstorming was more effective than individuals working alone in generating

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PM0016–Project Risk Management

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Master of Business Administration- MBA Semester 4

PM0016–Project Risk Management-4 Credits

(Book ID: B2012)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60.

Q1. What are the different risk categories? What is Risk Breakdown Structure (RBS)?

Answer. Explain the 4 different risk categories –

• Market Risk: The risk that the value of your investment will decline as a result of market conditions. This type of risk is primarily associated with stocks. You might buy the stock of a promising or successful company only to have its market

Q2. What is Risk Opportunity and Management System (ROMS)? What are its benefits?

Answer. ROMS is a decision-optimization tool underpinned by a rigorous risk and opportunity management methodology which harnesses the knowledge and experience of your key staff and stakeholders to help you make the best decision in a wide range of business contexts.

The most important benefits in our opportunity and risk management process are:

1. Identify and assess:

Q3. List the mitigation strategies/ideas for scope risks, schedule risks and resource.

Answer. Scope risks:

A risk is defined as an uncertain event or condition that, if occurs, has a negative effect or a Positive outcome on a project’s objectives. In this reference, a scope risk can be defined as the uncertainty regarding the delivery of in-scope or

Q4. What are the sources of resource risks?

Answer. People risks Risks

People risks Risks related to people represent the most numerous resource risks, comprising almost 20 percent of the entire database and nearly two thirds of the resource category. People risks are subdivided into five subcategories:

• Loss: Permanent staff member loss to

Q5. What are different types of scope risks?

Answer. Scope Risk

Defining what is required is not always easy. However, so as to ensure that scope risk is minimized, the deliverables, the objectives, the project charter, and of course, the scope needs to be clearly defined.

All scope risks, be they quantifiable or not, needs to recognized. Scope creep, hardware defects, software defects, an insufficiently defined scope, unexpected changes in the legal or regulatory framework and integration defects

Q6. Explain the three point estimates used in quantitative risk analysis.

Answer. The three-point estimation technique is used in management and information systems applications for the construction of an approximate probability distribution representing the outcome of future events, based on very limited information. While the distribution used for the approximation might be a normal distribution, this is not always so and, for example a triangular distribution might be used, depending on the

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PM0015–Quantitaive Methods in Project Management

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Master of Business Administration- MBA Semester 4

PM0015–Quantitaive Methods in Project Management-4 Credits

(Book ID: B2011)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60.

Q1. Write short notes on:-

a. Tracy-wiersema model

b. Central limit theorem

Answer. Tracy-wiersema model.

According to Treacy and Wiersema, there are three different value discipline strategies that organisations can implement in order to create added value and distinctive character relative to its competitors. They distinguish the following strategies:

•

Q2. What is parametric estimating? Explain the steps involved in the development of a parametric model.

Answer. Parametric Estimating - An estimating technique that uses a statistical relationship between historical data and other variables (for example, square footage in construction, lines of code in software development) to calculate an estimate for activity parameters, such as scope, cost, budget, and duration.

Steps involved in the development of a parametric model -

The development of a parametric estimating model can appear to be a daunting task; however, the use of modern computer technology (

Q3. 1. What aspects of capital budgeting must be considered while selecting a project?

2. Suppose an investment requires an initial outlay of $5 million and has expected the cash flow of $1 million, $3.5 million, and $2 million for the first three years.

a. Calculate:

• The net present value using a 10% required rate of return

• Profitability Index using a 10% required rate of return

b. Also suggest if the project must be accepted.

Answer. 1. • Develop and formulate long-term strategic goals – the ability to set long-term goals is essential to the growth and prosperity of any business. The ability to appraise/value investment projects via capital budgeting creates a framework for businesses to plan out future long-term direction.

• Seek out new investment projects – knowing how to evaluate investment projects gives a business the model to seek and evaluate new projects, an important function for all businesses as they seek to compete and profit in their industry

Q5. What are the major steps in time management process? What is rolling wave planning?

Answer. The Steps of the Time Management Process

1. Defining Activities

When it comes to a project, there are a few levels for identifying activities. First of all, the high-level requirements are broken down into high-level tasks or deliverables.

Then, based on the task granularity, the high-

Q6. What are the steps that should be followed to construct a “house of quality”?

Answer. The Voice of the Customers

The initial steps in forming the House of Quality include determining, clarifying, and specifying the customers’ needs. These steps lay the foundation for a clearly defined venture and will ensure a project or process is well thought out prior to any further development. Clarifying Customer Needs Customers buy benefits and producers offer features. This seems like a relatively simple notion, however, unless customers and producers are perfectly in tune with one another, it may be very difficult to anticipate these features, or each underlying benefit from

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OM0018–Technology Management

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Master of Business Administration- MBA Semester 4

OM0018–Technology Management-4 Credits

(Book ID: B1979)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60.

Q1. a. What do you mean by S&T policies of organisations?

b. What is the role of innovation in S&T?

Answer. a. SCIENCE & TECHNOLOGY ORGANIZATIONS& CENTERS

1. AAAS Directorate for Science and Technology Policy Programs

The Directorate for Science and Policy Programs (SPP) serve society, government, and the research community through a diverse set

Q2. a. Write about the changing trends in the industry.

b. Explain the methods for Strategic Analysis and Decision Making.

Answer. a. 1. 'SMAC Stack' adoption to gain speed.

A manufacturing comeback is being driven by SMAC — social, mobile, analytics and cloud. The SMAC Stack is becoming an essential technology tool kit for enterprises and represents the next wave for driving higher customer engagement and growth opportunities. The need to innovate is forcing cultural change within a historically conservative "if it's not broke don't fix it" industry, and SMAC is helping early adopters in the manufacturing market increase

Q3. a. Explain about the concept of strategic planning.

b. Describe the concept of technology maps.

c. What is technology forecasting?

Answer. a. Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy. Strategic planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. It is executed by strategic planners or strategists, who involve many parties and research sources in their analysis of the organization and its relationship to the

Q4. What is the impact of the technology change on the following?

a. Organisational productivity

b. Quality of work life

Answer. a. Technology and Productivity Growth

"The strong performance of productivity growth in the second half of the 1990s was in fact attributable to accelerating technical change, not to poor measurement or to temporary factors."

Productivity is one of the most closely watched indicators of long-term economic prospects. Rising productivity is the key to making possible permanent increases in the standard of living. In Productivity Growth in the 1990s: Technology, Utilization, or Adjustment (NBER Working Paper No. 8359), authors Susanto Basu, John Fernald, and Matthew Shapiro

Q5. Demonstrate Global Information System.

Answer. A global information system (GIS) is any information system which attempts to deliver the totality of measurable data worldwide within a defined context.

The Global Information System (GIS) is a global-coverage, core current strategic intelligence service for use only by governments. It is not available to non-governmental subscribers. GIS represents a base of more than 250,000 pages of data and images on 255+ countries and territories, updated daily, along with a constantly-growing database of special reports on a wide range of specialist topics and regional studies.

GIS includes the Defense &

Q6. Explain the conceptual framework of Management of Technology.

Answer. Technology management is set of management disciplines that allow organizations to manage their technological fundamentals to create competitive advantage. Typical concepts used in technology management are: technology strategy (a logic or role of technology in organization), technology forecasting (identification of possible relevant technologies for the organization, possibly through technology scouting), technology roadmap

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OM0017–Advanced Production and Planning Control

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Master of Business Administration- MBA Semester 4

OM0017–Advanced Production and Planning Control-4 Credits

(Book ID: B2010)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60.

Q1. What are the different line balancing methods?

Answer. Various line balancing methods are as listed below:

1. Largest Candidate Rule.

2. Ranked Positional Weighted Method.

3. Kilbridge and

Q2. What are the various techniques of costing?

Answer: 1. Marginal Costing

Marginal costing is a technique of costing in which allocation of expenditure to production is restricted to those expenses which arise as a result of production, e.g., materials, labor, direct expenses and variable overheads. Fixed overheads are excluded in cases where

Q3. What are the different approaches to sales and operations planning?

Answer: A strategic approach to sales and operational planning uses the major activities of the company to support overall company goals in an integrated fashion. Sales and operations coordinate initiatives to ensure that sales results transfer to operational efforts in a way that supports company objectives. You can achieve better overall company performance through

Q4. What are the rules for scheduling Kanban production?

Answer:  The most common form of Kanban is a card with data printed on it. The card can vary in shape, size and content, and it’s sometimes replaced by other devices, such as golf balls. Over the years, the Kanban concept has developed into more modern forms like e-mails, sensors, electronic dashboards and so on. At its simplest, kanban is a card with an inventory number that’s attached to a part. Right before the part is installed, the kanban card is detached and sent up the supply chain as a request for another part. A part is only manufactured (or ordered) if there is a kanban card for it.

Let’s imagine that you are

Q5. What are factors must be considered while implementing a production planning and control system?

Answer: There are many factors in an application implementation-related project that over time have proved to be key contributors to the success of such projects.  This includes items that may seem obvious, such as solid testing, communication, and involvement by key staff members, but these are often underutilized in favor of saving time.  When projects skimp on these key items, it is likely to result in:-

1. Delays in meeting project dates,

2. Disagreements on what the project is expected to deliver,

3. Difficulty solving issues,

4. Confusion on direction

Q6. Mention the reasons why manufacturing organizations choose Excel and Visual Basic prototype as planning and scheduling tools.

Answer. Using Excel for Bill of Materials (BOM) Management

Most small and mid-size businesses (SMBs) start with their product bill of materials (BOM) in Excel spreadsheets — why should you be any different? Excel is a well-known, flexible application that everyone has — It is easy and it is essentially free. Small companies can make it through the first release of a new product just fine using Excel to manage product data.

But when companies release more products, grow internally or add more manufacturing and outsourcing partners, the act of managing an Excel

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OM0016–Quality Management

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Master of Business Administration- MBA Semester 4

OM0016–Quality Management-4 Credits

(Book ID: B2009)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60.

Q1. Discuss the various dimensions of quality given by Garvin.

Answer. Garvin's eight dimensions can be summarized as follows:-

1. Performance

Performance refers to a product's primary operating characteristics. This dimension of quality involves measurable attributes, so brands can usually be ranked objectively on individual aspects of performance. Overall performance rankings, however, are more difficult to develop, especially when they involve benefits that not every consumer

Q2. What are the benefits of applying ISO standards in you organisation?

Answer. Benefits of standards: the ISO Materials

ISO has developed materials describing the economic and social benefits of standards, the ISO Materials. They are intended to be shared with decision makers and stakeholders as concrete examples of the value of standards.

For business

International Standards are strategic tools and guidelines to help companies tackle some of the most demanding challenges of

Q3. What do you understand by Management by Walking around (MBWA), a strategy that may be adopted by the top management to lead an organisation towards TQM.

Answer. MBWA...

To get connected and stay connected, you need to walk around and talk to your team, work alongside them, ask questions, and be there to help when needed. This practice has been called Management By Wandering Around (or Management By Walking About) – MBWA for short.

William Hewlett and David Packard, founders of Hewlett Packard (HP), famously used this approach in their company. Tom Peters, in his wildly

Q4. What are the major differences between Total Quality Management (TQM) and Six Sigma? Explain the steps involved in identifying customer requirements for product development.

Answer. TQM, total quality management, and Six Sigma are time tested tools to enhance quality of products as well as services. While there are numerous similarities, the subtleties within these systems are different. Traditionally, these systems have been utilized by large corporations.

Six Sigma and TQM are both quality-improvement systems and attempt to reduce defective products or poor service in an organization, while improving customer satisfaction. Both approaches first and foremost attempt to identify the fundamental

Q5. Write short notes on:

1. Fault Tree Analysis (FTA)

2. Failure Mode Effect Analysis (FMEA)

Answer. 1. Fault Tree Analysis

Fault Tree Analysis (FTA) is another technique for reliability and safety analysis. Fault tree analysis is one of many symbolic "analytical logic techniques" found in operations research and in system reliability. Other techniques include Reliability Block Diagrams (RBDs).

What is a Fault Tree Diagram (FTD)?

Fault tree diagrams (or negative analytical trees) are logic block diagrams that display the state of a system (top event) in terms of the states of its components (basic events). Like reliability block diagrams (RBDs), fault tree diagrams are also a

Q6.  Explain the concept of Knowledge Support System (KSS). Explain its types.

Answer.  Knowledge management systems refer to any kind of IT system that stores and retrieves knowledge, improves collaboration, locates knowledge sources, mines repositories for hidden knowledge, captures and uses knowledge, or in some other way enhances the KM process. If my explanation above makes the definition of these systems seem vague, that is because there is no consensus as to what constitutes a knowledge management system, much like there is no consensus regarding KM. Furthermore, since KM is involved in all areas of the firm, drawing a line is very difficult.

The Different Types of Knowledge

Understanding the different forms that knowledge can exist in, and thereby being able to distinguish between various types of knowledge, is an essential

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OM0015–Maintenance Management

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Master of Business Administration- MBA Semester 4

OM0015–Maintenance Management-4 Credits

(Book ID: B2008)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60.

Q1. What are the different techniques of proactive maintenance?

Answer. Some Techniques:-

Q2. What are the steps involved in organizing maintenance activities?

Answer. 1. Early Morning

Field inspections – Next, armed with an inspection schedule, Job Inspection forms, and a camera, the planner will begin making his/her inspection of all of the job sites.  The planner has established a logical route to minimize travel time and will make notes of the specific needs of the request, any ancillary work that should be completed by the mechanic while at the job site and all of the other applicable information required for a well-planned

Q3. Write short notes on: (3, 3, 4)

1. Maintenance optimization

2. Maintenance key performance indicators

3. Maintenance documentation

Answer: 1. Maintenance optimization: Maintenance Optimization is a analytical approach used to critique alternative maintenance strategies and asset configurations to arrive at an optimized solution.  The approach makes use of advanced analytical tools to model asset performance and simulate alternatives.

The Right Approach. A modern and cost-effective approach to preventive maintenance shows that there is no maintenance cost optimum. Instead, maintenance

Q4. Explain the factors that must be considered while selecting condition monitoring techniques in an organisation.

Answer. 1. The need to predict equipment failures

The key thing to note from this chart is the different focus of maintenance at each of the stages on the journey. When in the Reactive mode, the motivator for improvement is the need to avoid failures. In terms of Condition Monitoring, this means that the primary use for Condition Monitoring is to predict (and therefore assist in avoiding) unplanned equipment failures. The benefits of using Condition Monitoring in this way are significant, when you are predominantly operating in a reactive maintenance mode (or even predominantly in a traditional "fixed-interval, time-based" mode of preventive maintenance).

2. The need for a holistic view of

Q5. Suppose you are the head of the maintenance department of your organization which preventive maintenance tasks would you perform.

Answer. Here is the five step preventative maintenance program West Bend uses to ensure everything is working at an optimal level. These same steps can easily be adapted to fit the needs of any sized home or business.

1. Identify Equipment Requiring Preventative Maintenance

The first step in an effective preventative maintenance program is identifying the equipment being used by your facility. Every organization is going to rely on different mechanical systems, which means a one-size-fits-all approach isn’t going to work.

Take time to think about all of the

Q.6: Answer the following questions:

1. What are the types of maintenance budget?

2. What are the types of maintenance audits?

3. Give the important objectives of maintenance benchmarking.

Answer. 1. MANPOWER

Personnel costs are the sum of five concepts: The annual fixed gross amount received by each department workers Bonuses, overtime and amounts collected availability to work or receive calls (checkpoints)Staff costs associated with labour, as staff transport to the plant (in some countries and areas that cost is paid by the employer) the allowances and expenses displaced staff, seals and overtime, etc..

Training costs. This section, for companies with excellent management and concerned about the performance and motivation of its staff is a

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MB0053–International Business Management

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Master of Business Administration- MBA Semester 4

MB0053–International Business Management-4 Credits

(Book ID: B1724)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60.

Q1.  “The world economy is globalizing at an accelerating pace”. Discuss this statement and list the benefits of globalization.

Answer. The world economy – globalizing at an accelerating pace:-

The world economy is globalizing at an accelerating pace as countries previously closed to foreign companies have opened up their markets. Geographic distance is shrinking because of the Internet, as the ambitious companies aim for

Q2. Discuss the role of demographic environment in international business

Answer.  Demographic Environment and Its Importance to Business

The demographic environment differs from country to country and from place to place within the same country or region. Further it may change significantly over time. Peter Dracker, who emphasizes the tremendous economic and business implications of demographic changes, suggests that any strategy, that is any commitment of present resources to the future expectations, has to start out with demographics. It is conventionally said that Management is

Q3. Regional integration is helping the countries in growing their trade. Discuss this statement. Describe in brief the various types of regional integrations.

Answer. Regional economic integration has enabled countries to focus on issues that are relevant to their stage of development as well as encourage trade between neighbors.

There are more than one hundred

Q4.  Write short note on:

a) Foreign currency derivatives

b) Bases of international tax systems

Answer. a. Foreign exchange derivative. A foreign exchange derivative is a financial derivative whose payoff depends on the foreign exchange rate(s) of two (or more) currencies. These instruments are commonly used for currency speculation and arbitrage or for hedging foreign exchange risk. Specific foreign exchange derivatives and related concepts include:-

, a subsidiary of EUREX, a European derivative exchange; OTC: over-the-counter.

Q5. Strategic planning involves allocation of resources to firms to fulfill their long term goals. What are the types of strategic planning? Compare Top-down Vs Bottom-up planning.

Answer. Specific Types of Plans

Following the generation of a vision and mission statement, and the subsequent operations that will allow these to be achieved, smaller facets of the planning process begin to come into play. These include five general planning frames, which can be applied to different aspects of the operational process:

Short-range plans: Short-range plans generally apply to a specific time frame in which a specific series of operations will be carried out, assessed, and measured. The standard short-range plan will represent annual or semiannual operations with a

Q6.  Discuss the various payment terms in international trade. Which is the safest method and why?

Answer.  To succeed in today’s global marketplace and win sales against foreign competitors, exporters must offer their customers attractive sales terms supported by the appropriate payment methods. Because getting paid in full and on time is the ultimate goal for each export sale, an appropriate payment method must be chosen

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MB0052–Strategic Management and Business Policy

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Master of Business Administration- MBA Semester 4

MB0052–Strategic Management and Business Policy-4 Credits

(Book ID: B1699)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60.

Q1. What is strategy? Explain some of the major reasons for lack of strategic management in some companies?

Answer. 1.) Meaning of strategy- Strategy art of troop leader; office of general, command, generalship" is a high level plan to achieve one or more goals under conditions of uncertainty. Strategy is important because the resources available to achieve these goals are usually limited. Strategy generally involves setting goals, determining

Q2. Explain the following:

(a) Core competence

(b) Value chain analysis

Answer.  a) A core competency is a concept in management theory introduced by, C. K. Prahalad and Gary Hamel. It can be defined as "a harmonized combination of multiple resources and skills that distinguish a firm in the marketplace".

Core competencies fulfill three criteria:-

1. Provides potential access to a

Q3. Describe in brief the following environmental factors which a business strategist considers:-

(a) Political factors

(b) Technology

Answer. (a) Political factors: Political factors, in the context of the external environment in which a business functions, are a type of external constraint acting upon a business and are related to actions of governments and political conditions in the location where the business conducts business or seeks to conduct business.

The political factors affecting business are often given a lot of importance. Several aspects of government policy can affect business. All firms must follow the law. Managers must find how upcoming legislations can affect their

Q4. Write a brief note on Turnaround strategy?

Answer. Turnaround management is a process dedicated to corporate renewal. It uses analysis and planning to save troubled companies and returns them to solvency, and to identify the reasons for failing performance (or decreasing presence and position) in the market, and rectify them. Turnaround management involves management review, activity based costing, root failure causes analysis, and SWOT analysis to determine why the company is failing. Once analysis is completed, a long term strategic plan and restructuring plan are created. These plans may or may not involve a bankruptcy filing. Once approved, turnaround professionals begin to

Q5. Define the term ‘strategic alliance’. What are its characteristics and objectives?

Answer. A strategic alliance is an agreement between two or more parties to pursue a set of agreed upon objectives needed while remaining independent organizations. This form of cooperation lies between mergers and acquisitions and organic growth. Partners may provide the strategic alliance with resources such as products, distribution channels, manufacturing capability, project funding, capital equipment, knowledge, expertise, or intellectual property.

Q6. Write short notes on the following:

a) Competitive advantage

b) Porter’s Competitive threat model

Answer. a. Competitive advantage is a business concept describing attributes that allows an organization to outperform its competitors. These attributes may include access to natural resources, such as high grade ores or inexpensive power, highly skilled personnel, geographic location, high entry barriers, etc. New technologies, such as robotics and information technology, can also provide competitive advantage, whether as a part of the product itself

Spring-2015

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