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Thread: Mgt603 solved paper fall 2010 on 17-02-2011

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    Mgt603 solved paper fall 2010 on 17-02-2011

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    There were 56 MCQs out of 64 questions. The descriptive questions were as follows:

    Question no. 57 (Marks 3)

    What are opportunities and threats? explain briefly with the help of two examples of each
    Strengths are attributes of the organization that are helpful to the achievement of the objective.
    Weaknesses are attributes of the organization that are harmful to the achievement of the objective.
    Opportunities are external conditions that are helpful to the achievement of the objective.
    Threats are external conditions that are harmful to the achievement of the objective.
    Strengths and weaknesses are internal factors. For example, strength could be your specialist marketing expertise. A weakness could be the lack of a new product.
    Opportunities and threats are external factors. For example, an opportunity could be a developing distribution channel such as the Internet, or changing consumer lifestyles that potentially increase demand for a company's products. A threat could be a new competitor in an important existing market or a technological change that makes existing products potentially obsolete.

    Question no. 58 (Marks 3)
    what are the best strategy The firm falling in Quadrant IV of Grand Strategy Matrix?
    Qurdant-4 contains that company’s strong competitive situation and slow market growth. Finally,
    Quadrant IV businesses have a strong competitive position but are in a slow-growth industry. These
    firms have the strength to launch diversified programs into more promising growth areas. Quadrant IV firms have characteristically high cash flow levels and limited internal growth needs and often can
    pursue concentric, horizontal, or conglomerate diversification successfully. Quadrant IV firms also may pursue joint ventures
    Concentric diversification
    Horizontal diversification
    Conglomerate diversification
    Joint ventures

    Question no. 59 (Marks 3)
    What is the stock ownership of employees ?
    The responsibilities for human resource managers may include establishing and administering an employee stock ownership plan (ESOP), are corporations owned in whole or in part by their employees. Employees are usually given a share of the corporation after a certain length of employment or they can buy shares at any time. A corporation owned entirely by its employees (a worker cooperative) will not, therefore, have its shares sold on public stock markets. Employee-owned corporations often adopt profit sharing where the profits of the corporation are shared with the employees. These types of corporations also often have boards of directors elected directly by the employees.

    Question no. 60 (Marks 3)
    Define contingency plans?
    Contingency Planning
    Contingency plans can be defined as alternative plans that can be put into effect if certain key events do not occur as expected. Only high-priority areas require the insurance of contingency plans. Strategists cannot and should not try to cover all bases by planning for all possible contingencies. But in any case, contingency plans should be as simple as possible.

    Question no. 61 (Marks 5)
    what is the role of financial ratios in internal audit?
    Financial Ratio Analysis:
    Financial ratio analysis exemplifies the complexity of relationships among the functional areas of business. A declining return on investment or profit margin ratio could be the result of ineffective marketing, poor management policies, research and development errors, or a weak computer information system. The effectiveness of strategy formulation, implementation, and evaluation activities hinges upon a clear understanding of how major business functions affect one another. For strategies to succeed, a coordinated effort among all the functional areas of business is needed.

    Question no. 62 (Marks 5)
    What is the SMART criteria in annual objectives?
    The SMART criteria
    Specific - the objective should state exactly what is to be achieved.
    Measurable - an objective should be capable of measurement – so that it is possible to determine whether (or how far) it has been achieved
    Achievable - the objective should be realistic given the circumstances in which it is set and the resources available to the business.
    Relevant - objectives should be relevant to the people responsible for achieving them
    Time Bound - objectives should be set with a time-frame in mind. These deadlines also need to be

    Question no. 64 (Marks 5)
    Discuss the activities that can help an organization to reduce cost.
    Cost Leadership Strategies
    This strategy emphasizes efficiency. By producing high volumes of standardized products, the firm
    hopes to take advantage of economies of scale and experience curve effects. The product is often a
    basic no-frills product that is produced at a relatively low cost and made available to a very large
    customer base. Maintaining this strategy requires a continuous search for cost reductions in all aspects of the business. The associated distribution strategy is to obtain the most extensive distribution possible. Promotional strategy often involves trying to make a virtue out of low cost product features.
    To be successful, this strategy usually requires a considerable market share advantage or preferential
    access to raw materials, components, labour, or some other important input. Without one or more of
    these advantages, the strategy can easily be mimicked by competitors. Successful implementation also
    benefits from:
    􀂾Process engineering skills
    􀂾Products designed for ease of manufacture
    􀂾Sustained access to inexpensive capital
    􀂾Close supervision of labour
    􀂾Tight cost control
    􀂾Incentives based on quantitative targets
    􀂾Market of many price-sensitive buyers
    􀂾Few ways of achieving product differentiation
    􀂾Buyers not sensitive to brand differences
    􀂾Large number of buyers with bargaining power
    􀂾Pursued in conjunction with differentiation
    􀂾Economies or diseconomies of scale
    􀂾Capacity utilization achieved
    􀂾Linkages with suppliers and distributors

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